Latest Developments

Asia
The Hindu BusinessLine

ICICI Prudential Flexicap: Conviction behind the flexibility

Indian equities still benefit from healthy domestic growth and improving earnings, but valuations and prospects vary sharply across large, mid and small companies. Flexi-cap funds can shift between these segments as opportunities change, giving investors diversification, professional stock selection and a more adaptable route through today’s uneven and volatile market. We recommend ICICI Prudential Flexicap Fund for investors who can remain invested for at least five years. It suits those willing to accept sizeable equity swings for better long-term return potential. Since its July 2021 launch, the fund has built a credible performance record and a distinct portfolio. We covered the fund during its new fund offer and reviewed it again in August 2024. Since then, it has grown in size further (₹22,500-crore AUM now) and sharpened its choices. The fund now combines a large-cap base with a sizeable small-cap allocation. It also carries strong positions in automobiles, retail and other consumer-facing businesses. Note, this is not a fund that closely follows the market. It takes meaningful stock, sector and market-cap positions. That can lift returns when its calls work. It can also create periods of sharp underperformance. Here is the fund review. The fund is the seventh-largest scheme among 45 flexi-cap funds in the market. Size provides operating stability and research depth. It also makes liquidity important, especially in smaller companies. Large-caps formed 62.59 per cent of the portfolio. Mid-caps accounted for 9.71 per cent, while small-caps made up 24.47 per cent. Other assets formed the balance. The flexi-cap category portfolio had around 64 per cent in large-caps and 15 per cent in mid-caps. Its small-cap exposure was about 11 per cent. ICICI Prudential Flexicap, therefore, held more than twice the category’s aggregate small-cap allocation. Its mid-cap exposure was notably lower. This positioning was built gradually. In June 2023, large-caps formed 76.99 per cent of the fund. Small-caps accounted for only 9.70 per cent. By June 2026, large-caps had fallen by over 14 percentage points. Small-caps had risen by almost 15 points. The allocation barely changed during the latest year. The fund’s “dynamic” approach has, therefore, meant a measured three-year shift. It has not meant constant movement between market segments. The fund uses wider economic and valuation signals mainly for large-cap choices. It relies more on company-level research in mid-caps and small-caps. Around 60-65 per cent is intended as a core growth portfolio. The rest can include cyclical and contrarian opportunities. The current portfolio is built heavily around domestic demand. Automobiles formed 18.41 per cent in June 2026. Banks accounted for 16.99 per cent. Retailing made up 10.75 per cent. Consumer durables and auto components added another 14.40 per cent. By a broad grouping, mobility and consumption-linked businesses formed nearly half the portfolio. The fund held much more in automobiles, retail and consumer durables than the category. It held less in banks, pharmaceuticals and software services.

ICICI Prudential Flexicap: Conviction behind the flexibility
Asia
The Economic Times

10 largecap stocks with upside potential up to 37%. Do you own any?

Analyst forecasts offer more than just numbers-- they provide a strategic view of future market potential. For investors seeking the next big opportunity, a closer look at BSE large-cap stocks reveals several promising contenders.Based on consensus estimates from Trendlyne, several large-cap stocks are projected to deliver strong returns over the next 12 months. This anticipated “upside” represents the average expected gain over the coming year, offering a data-driven benchmark for investors targeting high-potential opportunities. In this analysis, we highlighted 10 standout large-cap stocks expected to deliver gains in the 25% to 37% range over the year ahead. The stock is currently trading at Rs 748, with an average analyst target price of Rs 1,025, implying a potential upside of 37%. The stock is covered by 40 analysts, with a consensus rating of Strong Buy. The stock is currently trading at Rs 548, with an average analyst target price of Rs 749, implying a potential upside of 37%. The stock is covered by 34 analysts, with a consensus rating of Strong Buy. The stock is currently trading at Rs 515, with an average analyst target price of Rs 676, implying a potential upside of 31%. The stock is covered by 32 analysts, with a consensus rating of Buy. The stock is currently trading at Rs 1,229, with an average analyst target price of Rs 1,587, implying a potential upside of 29%. The stock is covered by 39 analysts, with a consensus rating of Strong Buy. The stock is currently trading at Rs 1,307, with an average analyst target price of Rs 1,682, implying a potential upside of 29%. The stock is covered by 31 analysts, with a consensus rating of Strong Buy. The stock is currently trading at Rs 284, with an average analyst target price of Rs 365, implying a potential upside of 28%. The stock is covered by 27 analysts, with a consensus rating of Buy. The stock is currently trading at Rs 2,680, with an average analyst target price of Rs 3,387, implying a potential upside of 26%. The stock is covered by 15 analysts, with a consensus rating of Buy. The stock is currently trading at Rs 387, with an average analyst target price of Rs 490, implying a potential upside of 26%. The stock is covered by 31 analysts, with a consensus rating of Buy. The stock is currently trading at Rs 242, with an average analyst target price of Rs 305, implying a potential upside of 26%. The stock is covered by 30 analysts, with a consensus rating of Buy. The stock is currently trading at Rs 347, with an average analyst target price of Rs 433, implying a potential upside of 25%. The stock is covered by 27 analysts, with a consensus rating of Strong Buy.

10 largecap stocks with upside potential up to 37%. Do you own any?
Europe
The Guardian

US trade chief defends tariffs as Democrats say Trump ‘in denial’ over price hikes

Jamieson Greer, the US trade representative, before senators on Wednesday. Photograph: Michael Brochstein/Zuma/ShutterstockView image in fullscreenJamieson Greer, the US trade representative, before senators on Wednesday. Photograph: Michael Brochstein/Zuma/ShutterstockTrump tariffsUS trade chief defends tariffs as Democrats say Trump ‘in denial’ over price hikesJamieson Greer denies tariffs have pushed up prices during grilling from lawmakers over cost-of-living concerns Donald Trump’s chief trade official denied the president’s sweeping tariffs have increased prices for US families, as lawmakers challenged him over cost-of-living concerns across much of the country. US inflation surged to a three-year high earlier this year. During a heated exchange before US senators on Wednesday, however, US trade representative Jamieson Greer appeared to claim Trump’s controversial economic agenda had not driven prices higher. Asked by the Democratic senator Elizabeth Warren if the tariffs had increased prices for American families, Greer said: “No.” “Core inflation fell to 2.6% year on year, much better than in January 2025,” Greer said. Core inflation excludes food and energy. Overall inflation is slightly higher than it was when Joe Biden left office. Warren said an estimate produced by Democrats and based on the nonpartisan congressional budget office and the treasury department’s own numbers, showed families were paying an average of $1,700 more in tariff costs since Trump’s return to office. It comes at a critical time for Trump’s tariffs policy, which suffered a damaging blow in February when the US supreme court ruled that many of those tariffs were illegal. The US replaced those tariffs with a 10% tariff regime on much of the world, but this is due to expire on Friday – and Trump officials, including Greer, have indicated they will replace it with a new wave of duties on imports from overseas. During Greer’s appearance before the Senate finance committee on Wednesday, Senator Raphael Warnock said Trump had “made life more expensive for everybody” before the US-Israel war on Iran sent “energy prices through the roof”. “Despite this mountain of evidence, you and the president still seem to be in denial that tariffs have raised prices,” Warnock told Greer, “a fact that study after study confirms, and is just basic common sense – everybody sees it, we’re feeling it.” Warnock asked if Greer had “ever produced any rigorous peer-evaluated study refuting the fact that the tariffs have contributed to inflation, or is your rebuttal to these conclusion just based on vibes, people’s feelings, politics … ?”

US trade chief defends tariffs as Democrats say Trump ‘in denial’ over price hikes
Asia
The Economic Times

Mutual fund NFOs: 7 new funds will open for subscription this week. Check dates

Around seven new funds will open for subscription this week. Fund houses launch new funds to complete their bouquet of offerings. Here is a detailed breakup of NFO period, minimum investment amount, according to Value Research. Kotak Nifty Bank Index Fund will open for subscription on August 3 and will close on August 17. The minimum investment amount will be Rs 1,000. Motilal Oswal Nifty Metal ETF and Motilal Oswal Nifty Oil & Gas ETF will open and close for subscription on August 3. The minimum investment amount will be Rs 10. AlphaGrep Liquid Omni FoF will open for subscription on August 4 and will close on August 6. The minimum investment amount will be Rs 500. JioBlackRock Nifty 50 ETF will open for subscription on August 4 and will close on August 11. The minimum investment amount will be Rs 500. Edelweiss Nifty REITs & Realty Index Fund will open for subscription on August 5 and will close on August 19. The minimum investment amount will be Rs 100. Franklin India Short Term Fund will open for subscription on August 5 and will close on August 11. The minimum investment amount will be Rs 5,000.

Mutual fund NFOs: 7 new funds will open for subscription this week. Check dates
Asia
The Economic Times

11 penny stocks surged up to 198% in 6 months. Do you own any?

Over the past six months, 11 penny stocks delivered returns ranging from 19% to 198%. The stocks were screened using the following criteria: market capitalisation below Rs 1,000 crore, share price under Rs 20, and a minimum latest trading volume of 5 lakh shares. The screen highlights actively traded low-priced micro-cap stocks that have generated strong gains.While penny stocks can offer significant upside potential, they also carry substantial risks, including low liquidity, sharp price volatility, and limited financial transparency. Investors should conduct thorough due diligence and follow prudent risk management before investing in this segment. (Source: ACE Equity)

11 penny stocks surged up to 198% in 6 months. Do you own any?
Asia
The Hindu BusinessLine

From weather forecasts to climate resilience: The future of farming in India

The South-West monsoon is testing India’s preparedness yet again. In the third week of July 2026, flash floods and landslides across Jammu & Kashmir, Nagaland and Assam claimed more than two dozen lives, displaced over 57,000 people, and damaged more than 3,900 hectares of standing crops in Assam alone within days. When water rises, rural India and its food systems absorb the first shock. India’s forecasting capability has never been stronger. IMD’s Mausamgram portal delivers village-level forecasts at hourly to six-hourly intervals for up to ten days ahead. The Ministry of Panchayati Raj’s Gram Manchitra platform gives Gram Panchayats a single-window geospatial planning system spanning 29 sectors. They are public goods. Yet a forecast, however precise, informs farmers about weather, not how water will affect their trade and livelihood once it reaches the ground. There is a distinction between information, intelligence, and actionable decisions. Early warning systems alert villages about weather, while risk and vulnerability assessments using climate indicators, geospatial (GIS) maps and community surveys guide statutory budget allocation. Both are necessary, but neither guarantees the right decisions. A farmer who knows heavy rainfall is approaching in 72 hours needs to know which plot to protect, where to move the harvest, which fields will waterlog, which godown sits in the flood path, and which road fails first. Flood losses extend beyond farm plots. Grain in low-lying godowns is lost to inundation, damaged roads prevent farmers from reaching mandis, perishables crash locally while urban prices spike, and smallholders sell distressed produce when cash needs are highest. Yet mandis, warehouses and procurement centres remain absent from planning datasets, even as banks, schools and PDS outlets are mapped. Climate resilience cannot stop at the farm plot. Flood-resilient warehousing, hazard-informed siting of procurement centres, and pre-positioned logistics planning must become standard practice. The intersection of information, intelligence, and actionable decisions is climate resilience. A platform approach is needed to bridge forecasts and preparedness decisions across the food value chain, from farmland to warehouses, food godowns, transport corridors and procurement centres. Risk exposure must be assessed dynamically as climate and land development evolve. Static snapshots mislead decisions. The platform should integrate early warnings with climate risk and socio-economic vulnerability to enable timely, targeted, plot-level decisions throughout the year. Resilience is built or broken at the village level. Farmer Producer Organisations (FPOs) can aggregate produce before forecast flood windows, negotiate safe storage, and help members document losses for crop insurance. Panchayat-level risk maps can guide community grain banks, shelters and raised livestock platforms. Climate adaptation finance remains the missing piece. Who pays for a decision platform across the food value chain is yet to be established. Expecting farmers to fund such systems ignores low digital adoption and post-disaster incentive dependence. A study of 5,709 farmers across Sub-Saharan Africa found that while Weather and Climate Information Services strengthen resilience, willingness to pay remains too low to sustain business models relying solely on farmers. India already possesses highly capable forecasting institutions, a maturing geospatial ecosystem, and an unmatched network of rural collectives. The future of farming depends on connecting them faster so the next red alert triggers not only evacuation but coordinated protection of crops, stocks, markets and incomes. A commercially sustainable decision system, used by authorities, Farmer Producer Organisations and food value chain operators, can enable decisions at every plot and storage unit. A single platform-observed flood, heatwave, landslide or drought can replace slow field surveys, putting money in farmers’ hands within days instead of seasons. It should not stop at forecasting the weather, but decide what the weather is allowed to take from us. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

From weather forecasts to climate resilience: The future of farming in India
Asia
The Hindu BusinessLine

Singapore Good Soil Foundation Hosts Third Next Generation Philanthropy Leadership Program at the University of Hong Kong, Empowering the Next Generation of Global Changemakers

HONG KONG , Aug. 2, 2026 /PRNewswire/ -- The Singapore Good Soil Foundation successfully concluded the third edition of its Next Generation Philanthropy Leadership Program at The University of Hong Kong, marking the program's first international edition since its launch. Centered on the theme "Art + AI for Social Good," the five-day immersive program brought together 58 in-person Student Fellows and 45 online participants from Singapore, Mainland China, Hong Kong SAR, the United States, the United Kingdom, Thailand, and Kenya. Through interdisciplinary learning in artificial intelligence, leadership, social innovation, and the arts, Student Fellows explored how technology and creativity can be harnessed to address real-world challenges and create lasting social impact. Following two successful editions at the National University of Singapore and Nanyang Technological University, the program continues to grow into an international platform connecting young people who aspire to lead with purpose and create positive change in their communities. The Singapore Good Soil Foundation believes that education is not simply about transferring knowledge. It is about empowering young people to use knowledge, technology, and creativity in service of humanity. Philanthropy is not merely about giving. It is about expanding human possibility. This year's program welcomed three scholarship recipients from remote rural communities in China. Coming from under-resourced communities, they received full scholarships covering travel, accommodation, and program expenses, enabling them to learn alongside outstanding students from around the world. Beyond learning about artificial intelligence, leadership, and social innovation, the Next Generation Philanthropy Leadership Program aims to equip Student Fellows to become future philanthropic leaders who will one day return to their communities and create opportunities for others. For the Singapore Good Soil Foundation, philanthropy is about more than transforming individual lives. It is about empowering individuals to become catalysts for positive change within their communities and beyond. Nine alumni from previous cohorts returned as Teaching Assistants, mentoring student teams throughout the program. Outstanding university students from Nanyang Technological University, Yale University, and Xiamen University also returned to share their experiences of university life, leadership, and community engagement. The Singapore Good Soil Foundation believes that some of the most meaningful learning happens when young people inspire one another. The program featured speakers from the fields of philanthropy, artificial intelligence, entrepreneurship, design, and communication.

Singapore Good Soil Foundation Hosts Third Next Generation Philanthropy Leadership Program at the University of Hong Kong, Empowering the Next Generation of Global Changemakers
Asia
The Hindu BusinessLine

Q1 Results Today Live: Divis Laboratories, Muthoot Finance, APL Apollo Tubes, Gujarat Ambuja Exports, Clean Science & Technology to announce Q1 results

(PTI) GHCL Ltd, India’s largest single-location soda ash maker, on Saturday reported a 32 per cent rise in first-quarter profit to Rs 191.18 crore, helped by lower expenses, even as total income fell. The Gujarat-based chemical maker had posted a net profit of Rs 144.78 crore a year earlier, it said in a regulatory filing. Total income fell 3.06 per cent to Rs 798.01 crore from Rs 823.19 crore a year earlier, while total expenses declined to Rs 594.10 crore from Rs 627.96 crore. Muthoot Finance posted a 25% rise in Q1 FY27 profit to ₹2,550 crore as gold loan AUM jumped 44%, driven by strong demand and record loan growth. APL Apollo Tubes Limited board approved participation in the proposed incorporation of a Group Shared Services Company (SSC), with an investment of up to 20 per cent of its equity share capital for an amount not exceeding ₹1 crore. Upon incorporation, the SSC is expected to qualify as an Associate Company of APL Apollo Tubes. The proposed entity will provide common corporate support services to participating group companies through a centralised shared services model. The Finance Committee of the Board was authorised to execute all necessary steps to operationalise the proposal. The board also took note of a separate decision by Apollo Metalex Limited (AML), a material subsidiary of the company, to rationalise its manufacturing operations. AML plans to consolidate production from its A-25 unit at Sikandrabad, Uttar Pradesh, into other group manufacturing facilities, and will consequently dispose of the land and building at that unit. The company stated the move is aimed at improving capacity utilisation, reducing operating costs, and freeing up capital for core manufacturing and growth. APL Apollo said the consolidation will be phased and is not expected to affect overall production volumes or customer commitments. On the financial front, consolidated revenue from operations for the June 2026 quarter stood at ₹5,606.71 crore, compared to ₹5,169.77 crore in the same quarter last year. Net profit for the quarter came in at ₹263.11 crore against ₹237.17 crore a year ago. Sarda Energy & Minerals Ltd reported a standalone net profit of ₹318.57 crore for the first quarter ended June 30, 2026, a decline of roughly 17.5 per cent compared to ₹386.05 crore in the same quarter last year. Standalone total income fell to ₹1,232.55 crore from ₹1,377.47 crore in Q1 FY26, while revenue from operations came in at ₹1,162.54 crore against ₹1,307.09 crore a year ago. Total expenses declined to ₹808.45 crore from ₹866.93 crore. Basic earnings per share stood at ₹9.04, down from ₹10.96 in the year-ago period. On a consolidated basis, the company fared better. Net profit attributable to the owner stood at ₹458.25 crore, up from ₹434.36 crore in Q1 FY26, aided partly by ₹110.21 crore in net positive impact from recognition of additional revenue and interest income related to the Sikkim Hydropower project following regulatory approval of its final project cost. Among segments, the Power division was the standout performer on a standalone basis, with segment profit of ₹312.92 crore, up sharply from ₹173.55 crore in the previous quarter ended March 2026, though lower than ₹377.44 crore in Q1 FY26. Steel and Ferro Alloys segments both saw year-on-year profit declines. The board also approved seeking shareholder consent to raise funds up to ₹1,000 crore through debt instruments. The record date for dividend payment for FY 2025-26 has been fixed at August 14, 2026.

Q1 Results Today Live: Divis Laboratories, Muthoot Finance, APL Apollo Tubes, Gujarat Ambuja Exports, Clean Science & Technology to announce Q1 results
Asia-Pacific
The Straits Times

US Federal Reserve expected to hold rates steady as inflation swirls

Most investors expect the Fed to hold rates steady at 3.5 per cent to 3.75 per cent for the fifth straight meeting, according to CME’s FedWatch monitoring tool. WASHINGTON – The US Federal Reserve is set to hold its second meeting under new chairman Kevin Warsh starting July 28, with markets expecting policymakers to keep interest rates steady amid inflation concerns that could be exacerbated by US President Donald Trump’s renewed war on Iran. Warsh was chosen to lead the US central bank by Trump, who has made his demand for lower interest rates clear as he has exerted unprecedented pressure on the independent monetary policymaking body. After two days of closed-door sessions, the Federal Open Market Committee (FOMC) will announce its decision on July 29 at 2pm (2am on July 30, Singapore time), followed by a press conference by Warsh. Most investors expect the Fed to hold rates steady at 3.5 per cent to 3.75 per cent for the fifth straight meeting, according to CME’s FedWatch monitoring tool. US consumer inflation eased to 3.5 per cent year on year in June, but remains far higher than the Fed’s long-term 2 per cent target, which it has not achieved for more than five years. Since last week, a ramping up of hostilities has seen intense US strikes and Tehran’s retaliatory action targeting Washington’s allies across the region, while Yemen’s Houthi rebels have threatened to blockade the Red Sea oil trading route. The fighting has sent energy prices soaring once more, with the benchmark oil futures contract breaching US$100 per barrel for the first time since late May, when energy prices were on their way down. At the Fed, policymakers have been losing patience with persistent inflation, indicating that a rate hike may be near. The Fed “has to be ready to tighten monetary policy to prevent a repeat of the 2021-to-2022 inflation episode”, Fed Governor Chris Waller said last week. “Sternly staring at inflation until it melts before our withering gaze is not an option.” Since taking office, Warsh has vowed to reduce or eliminate the amount of forward guidance the Fed provides on its decision-making process, a move that has received mixed reactions.

US Federal Reserve expected to hold rates steady as inflation swirls