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LK Advani’s ‘gift’ makes its way to State Department exhibition hall

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WASHINGTON: An elephant figurine, made up of artificial pearls and semi-precious stones, which was gifted by the then Indian Home Minister Lal Krishna Advani to US Secretary of State Colin Powell in 2002, has made its way to the State Department exhibition hall.

“Secretary Colin Powell received this gift from Indian Minister of Home Affairs Lal Krishna Advani,” the State Department said in its remarks written at the bottom of the elephant figurine.

In fact, it is one of the less than 50 gifts among the hundreds of those received by the Secretary of State over the year by foreign dignitaries that have been selected for display at the Exhibit Hall, in the centre of Henry S Truman Building, headquarters of the State Department, official sources said.

Describing the gift, the State Department said, “with royal aplomb, the great man rides in the howdah, or canopied seat, as the mahout or guide in front leads the elephant”.

“This colourful cloisonne figurine harks back to times when elephants were an indispensable part of Indian life – for transportation, fighting battles, protecting land and traversing forests,” it said.

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The elephant figurine was made by Neeru Goel, an Indian artist from Bengal, who specialises in enamelware sculptures.
The Department officials, while explaining the reason for the selection of this particular gift from India to be displayed at the exhibition hall, said that elephants are a cultural icon of the country, which over centuries have become a status symbol representing wealth, wisdom, and strength.

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AGNC: This 8.75% Yielding Preferred Share Isn’t The Highest, But My Favorite (NASDAQ:AGNC)

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AGNC: This 8.75% Yielding Preferred Share Isn't The Highest, But My Favorite (NASDAQ:AGNC)

This article was written by

Other writing on Substack: https://yieldstrategies.substack.com/I am currently focused on income investing through either common shares, preferred shares, or bonds. I will occasionally break away and write about the economy at large or a special situation involving a company I’ve been researching in. I target two articles per week for publication on Monday and Tuesday.About My Background: Bachelors in history/political science, Masters in Business Administration with a specialization in Finance and Economics. I enjoy numbers. I have been investing since 2000. Professionally, I am the CEO of an independent living retirement community in Illinois.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Bleak outlook for national economy if Iran war drags on

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Bleak outlook for national economy if Iran war drags on

Lingering conflict in the Middle East could cause Australia’s economy to contract and unemployment to spike to pre-pandemic levels, Treasury warns in the nation’s fiscal blueprint.

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EBay Rejects GameStop’s $56 Billion Bid. What Happens Next.

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EBay Rejects GameStop’s $56 Billion Bid. What Happens Next.

EBay Rejects GameStop’s $56 Billion Bid. What Happens Next.

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LENZ Therapeutics stock price target lowered to $38 by H.C. Wainwright

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LENZ Therapeutics stock price target lowered to $38 by H.C. Wainwright

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Ralliant shares rise nearly 6% on raised guidance despite earnings miss

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Ralliant shares rise nearly 6% on raised guidance despite earnings miss

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UK borrowing costs jump as uncertainty over PM's future continues

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UK borrowing costs jump as uncertainty over PM's future continues

The possibility of a change of leadership in the UK has unsettled some investors and sent bond yields higher.

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JSW Energy shares plummet 8%; Q4 net profit rises 38% to Rs 574 crore, revenue up 41%

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JSW Energy shares plummet 8%; Q4 net profit rises 38% to Rs 574 crore, revenue up 41%
Shares of JSW Energy plunged as much as 8% to their day’s low of Rs 512 on the BSE on Tuesday after it reported a consolidated net profit of Rs 574 crore for the March quarter, marking a 38% increase from Rs 414 crore recorded in the same period last year.

Revenue from operations rose sharply by 41% year-on-year to Rs 4,499 crore in Q4FY26, compared with Rs 3,189 crore in the corresponding quarter of the previous financial year. The company’s board has recommended a dividend of Rs 2 per equity share and fixed Friday, June 5, as the record date to identify shareholders eligible for the payout.

On a sequential basis, profit after tax grew 8% from Rs 529 crore reported in Q3FY26, while revenue increased 10% quarter-on-quarter from Rs 4,082 crore in the October-December quarter.

Total expenses during the quarter stood at Rs 4,666 crore, higher than Rs 4,366 crore in Q3FY26 and Rs 3,142 crore in Q4FY25. This reflects a rise of 7% sequentially and 48% on a yearly basis. The increase in expenditure was driven by higher fuel costs, employee expenses and finance costs, among other factors.

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Power sales volume climbed 48% year-on-year to 11.7 billion units (BUs) from 7.9 BUs. Renewable energy generation rose 68% to 2.9 BUs from 1.7 BUs a year ago, while thermal generation increased 43% to 8.8 BUs from 6.2 BUs.


Generation under long-term power purchase agreements (PPAs) grew 25% year-on-year to 8.6 BUs from 6.9 BUs. Short-term PPA generation surged 201% to 3.1 BUs, compared with 1.0 BU in the year-ago period.
JSW Energy’s cash and cash equivalents stood at Rs 10,013 crore during the quarter, reflecting a strong liquidity position. The company reported a net debt-to-equity ratio of 2.1x, while operational net debt-to-EBITDA stood at 5.2x.EBITDA for Q4FY26 jumped 72% year-on-year to Rs 2,602 crore from Rs 1,512 crore reported in the corresponding quarter last year.

JSW Energy shares are up 9.5% in the last 1 month and about 15% in the last 1 year.

Sensex, Nifty today: Catch all the LIVE stock market action here
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Tax relief for workers and pain for investors in budget

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Tax relief for workers and pain for investors in budget

All workers will get a $250 tax cut from as part of the federal budget, funded by a raid on investment properties, trusts and other investments.

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Clear Street raises Plug Power stock price target on strong sales growth

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Clear Street raises Plug Power stock price target on strong sales growth

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Fed govt details sweeping CGT, negative gearing reform

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Fed govt details sweeping CGT, negative gearing reform

The federal government is replacing the 50 per cent capital gains tax discount with a new minimum rate and is restricting negative gearing to new builds to boost housing stock.

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