New 100,000-seater home will be some 350 metres away from Old Trafford

Manchester United have confirmed the club’s new 100,000-seater stadium will be built on land recently purchased from Indurent, situated roughly 350 metres from Old Trafford.

United confirmed the location for the new stadium on Thursday in the Wharfside Strategic Masterplan and while the stadium won’t be built on land currently connected to Old Trafford, they insist it will honour the current ground’s history and traditions.

The new ground will be the centrepiece of a Stadium District, which will be purpose-built for sport, entertainment and year-round activity, with the new stadium serving as the flagship landmark of the wider Trafford Wharfside development.

The masterplan sets out a bold vision for Trafford Wharfside, including new and improved public transport links, enhanced rail connectivity, and extensive walking and cycling infrastructure. The vision is for a diverse neighbourhood creating 48,000 local jobs and 15,000 new homes, with the new stadium acting as the catalyst.

It is estimated it could offer a £7.3bn per year boost to the UK economy, reports the Manchester Evening News.

Collette Roche, CEO of the new stadium development, said: “The publication of the Wharfside Masterplan marks another significant milestone in our journey to create a new world-class home for Manchester United at the heart of a vibrant and transformational district for Trafford and Greater Manchester. Together with our partners, we have a once-in-a-generation opportunity to deliver a destination that creates lasting benefits for supporters, local communities and the wider region for decades to come.

“The proposed stadium site is ideally located alongside Old Trafford, enabling us to preserve the heritage, traditions and matchday rituals that are so important to our supporters, while also providing the connectivity and infrastructure required to deliver a truly world-class fan experience.

“We are committed to building a world-class stadium with our supporters, not simply for them. Atmosphere, affordability and accessibility will remain at the heart of our plans, and we look forward to continuing our engagement with fans and other stakeholders as we move into the next phase of design and development.”

Coun Tom Ross, leader of Trafford council, added: “We are delighted to introduce the masterplan which starts a long journey to piece together what could happen where, to bring this world-class cultural and sporting destination to life.

“We want to create a great place to be, not just on matchdays but every day – and we’re looking for as many residents and businesses as possible to help us to shape this vision, through our forthcoming consultation process.

“Wharfside will become a network of attractive neighbourhoods in which to live, work, wander, explore, relax with family, enjoy nature and wildlife, meet friends, eat out, have a drink, shop and be entertained.

“It will have the best of parks and waterside spaces, housing including affordable options in vibrant and diverse localities, new health and educational facilities, joined up public transport and places to walk, cycle and be active.”

The shares of Kalyan Jewellers India continued to record stellar gains for its shareholders, soaring another 9% on Friday to extend its rally to a whopping 36% over three consecutive sessions after a strong Q1 business update.

The company’s shares jumped to Rs 483.40 apiece on the NSE on Friday morning, the highest level seen by the stock in nearly six months. The sharp gains over the three days added more than Rs 13,280 crore in investors’ wealth, pushing the company’s market capitalisation to Rs 49,896 crore.

Kalyan Jewellers Q1 business update

Kalyan Jewellers on Tuesday said the April-June quarter of the ongoing financial year 2027 was a “very satisfying one” as it recorded consolidated revenue growth of nearly 38% when compared to the same period in the previous financial year. The gold jewellery maker’s 38% revenue growth came despite the 28-day Adhik Maas period falling fully in the recently concluded quarter, when several customers typically avoid gold purchases.

The company also posted same-store sales growth of approximately 28%. The share of recycled gold as a percentage of revenue rose to over 46% during Q1 FY27. For the month of June, the share of recycled gold as a percentage of revenue was in excess of 55%.

The international operations recorded revenue growth of approximately 35% year-on-year (YoY) in Q1 FY27. “Within the Middle East specifically, we witnessed revenue growth of approximately 30% for Q1 FY27 as compared to Q1 FY26, driven predominantly by same-store sales growth despite the impact on footfall during April due to the geopolitical tensions in the region,” it added.

Kalyan launched 12 showrooms and 5 Candere showrooms in India during the quarter under review. “The ongoing quarter has started well, and we are upbeat about the new showroom launches, gearing up with fresh collections and campaigns for the upcoming festive and wedding season across the country,” the company added further in a statement.

Also read: Jewellery companies put shine on D-St with strong biz updates

What lies ahead for Kalyan Jewellers shares?

Citi remains bullish on the shares of Kalyan Jewellers and believes the stock has the potential to rise to Rs 750 apiece. This implies an upside potential of more than 69% from the stock’s previous closing price of Rs 443 apiece. The international brokerage expects the company’s franchise-led expansion strategy to continue supporting revenue growth. It also believes the company’s asset-light model will aid deleveraging and improve return on capital employed (ROCE).
ICICI Securities, meanwhile, maintained a Buy rating on the stock with a target price of Rs 670, implying an upside of more than 51%. The brokerage said Kalyan Jewellers’ strong Q1 FY27 performance despite multiple headwinds reflects resilient underlying jewellery demand.It believes continued store expansion and the ongoing formalisation of the jewellery industry reinforce its positive outlook, although it cautioned that any structural decline in natural diamond prices remains a key risk.

Kalyan Jewellers share price

Kalyan Jewellers shares have jumped 25% in one week and more than 40% in one month. The stock is, however, down around 2% in 2026 so far and 19% in one year. In the longer term, the stock has delivered 190% returns over three years and 514% in five years.

Also read: Kalyan Jewellers stock to double from here? Why analysts are bullish

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Shares of Dixon Technologies India jumped as much as 4% to Rs 14,027 on the BSE on Friday after Chinese smartphone brand Vivo Mobile India received the long-pending government approval to form a joint-venture partnership with Dixon for manufacturing of smartphones.

Both companies had signed a binding term sheet in December 2024 under which the electronics manufacturer will hold 51% of the share capital, while Vivo India will have 49% share. The joint-venture was pending government approval under the Press Note 3 of 2020 which mandates companies from countries sharing a land border with India to require government approval to invest in India.

Also Read | Vivo receives govt’s nod to form JV with Dixon Technologies to manufacture smartphonesThe joint-venture entity will act as the original equipment manufacturer (OEM) of electronic devices including smartphones for Vivo Mobiles in India. The entity can also engage in manufacturing for other brands, Dixon said.

What are experts saying?

Emkay raised its target price to Rs 15,200 (13%upside) from Rs 13,477 while maintaining a Buy rating on the counter. The brokerage said regulatory approval for the 51:49 joint venture with Vivo removes a key overhang and paves the way for large-scale manufacturing of Vivo smartphones. It has raised its Vivo production estimates to 6.5 million units in FY27 and 18 million units in FY28, resulting in 14% and 17% upgrades to its FY27 and FY28 EPS estimates, respectively.

Emkay noted that Dixon already accounts for 45-50% of India’s smartphone manufacturing capacity, with the Vivo JV expected to further strengthen its leadership. It also sees continued policy support for domestic electronics manufacturing, including the proposed Mobile PLI 2.0 scheme, as a key growth driver. The brokerage believes Dixon’s strong return ratios, negative working capital cycle and robust cash generation justify its premium valuation and remains positive on the stock.
Nomura has maintained its Buy rating on Dixon Technologies with a target price of Rs 13,813. It believes the regulatory approval for the joint venture improves volume visibility for Dixon, which currently accounts for around 18% of India’s mobile manufacturing with approximately 33 million units in FY26. Assuming Dixon secures around 70% of Vivo’s production, Nomura estimates its annual output could rise to nearly 60 million units over the next few years, translating into a 35-38% market share. Also Read | Dixon, Amber, Syrma: Harshit Kapadia on why India’s EMS sector is back on the radar & which stocks to buyThe brokerage expects the JV to commence operations from September 2026, with VMI production estimated at 12 million units in FY27, rising to around 17 million units in FY28 and increasing further in FY29. It believes Dixon has strong visibility of producing around 55 million mobile units in FY28, with scope for additional growth thereafter.

Vivo is the country’s leading smartphone player by volumes, with an estimated 23% market share and shipments of around 35 million units in CY25, up 15% year-on-year despite an industry-wide volume decline of around 2% following sharp price hikes.

Dixon’s management has been bullish on the joint-venture agreement unlocking further manufacturing volumes for the company, which has become one of the largest smartphone makers in India.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)