“Although further U.S. rate hikes had already been largely priced in and longer-term inflation expectations had remained stable near the Fed’s inflation target, there apparently remained some doubt as to whether the central bank would actually be willing to raise rates sufficiently quickly and decisively,” Commerzbank’s Thu Lan Nguyen said in a note.

Shares of NMDC rallied up to 2% on Monday to a day’s high of Rs 80.85 after the company announced that it has set a target of achieving net-zero operational emissions by 2047, covering Scope 1 emissions from direct fuel consumption and Scope 2 emissions associated with electricity use.

According to a filing with the exchange, the company has taken the decision as part of its commitment to progressively reduce the carbon footprint of its operations and transition towards lower-carbon mining practices.

Also Read | NMDC sets Net Zero target for operational emissions by 2047

The company said that under its net-zero roadmap, it has identified six key strategies: energy efficiency, renewable energy integration, electrification of its fleet, adoption of low-carbon fuels, Carbon Capture, Utilisation and Storage (CCUS), and demand-side management.

The net-zero roadmap has been divided into three phases. The short-term phase will cover FY 2026 to FY 2030, followed by the medium-term phase from FY 2030 to FY 2040, while the long-term phase will run from FY 2040 to FY 2047.

Also Read | NMDC looks to hit 60 MT iron ore production mark this fiscal: Chairman
The company plans to progressively implement the identified measures across these three phases, with energy efficiency, renewable energy adoption and electrification expected to form key components of the initial transition, followed by deeper decarbonisation measures and emerging technologies in subsequent phases.The company has set an overall target of a minimum 90% reduction in operational emissions as part of its net-zero pathway, with the remaining emissions to be addressed through offsetting measures as the roadmap progresses.

Going beyond Scope 1 and Scope 2, the company’s logistics infrastructure is also expected to contribute to its decarbonisation efforts. The upcoming slurry pipeline project is expected to provide a greener downstream transportation solution by reducing dependence on conventional transportation and associated warehousing requirements.

Further, NMDC plans to increase the movement of iron ore through rail freight, supported by the doubling of railway lines and other supply infrastructure being developed around its operations. Greater use of rail transportation is expected to help reduce the carbon intensity associated with the movement of minerals.

NMDC has already undertaken several initiatives aimed at increasing the share of renewable energy and reducing dependence on conventional energy sources. These include a 10.5 MW wind energy facility at Chitradurga and solar power installations across its projects.

NMDC share price movement

In the last one month, shares of NMDC fell 5% and are down nearly 4.09% in the current calendar year. In the last one year, the stock has gained 4.85%. The stock has gained 67.24% in the last three years and 74.32% in the last five years.

Disclosure: This article has been written by Surbhi Khanna, who is not a SEBI-registered Research Analyst or an investment advisor . Surbhi Khanna does not hold any financial interest in Economic Times as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of the EconomicTimes Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment.

Shares of ESDS Software Solutions, India’s best-performing IPO of the year, rallied as much as 5% on Monday to hit the upper circuit at Rs 1,622, resuming their strong post-listing run after three consecutive sessions of lower circuits.

ESDS, an AI-enabled end-to-end IT services provider offering data centre, cloud, colocation, managed services and AI infrastructure solutions, listed at a 76% premium to its issue price of Rs 429 per share.

The stock ended its listing day more than 110% above the issue price, before hitting a 20% upper circuit for the next two sessions, followed by three sessions of 10% gains and another 5% rise. The streak took the stock’s gains to 325% in just seven sessions before investors began booking profits and the post-IPO frenzy started to cool.

Decoding ESDS’ mammoth rally

The stock’s explosive post-listing performance follows equally strong demand during its public issue. The ESDS Software Solution IPO was subscribed 136 times overall, highlighting aggressive investor interest across categories. The qualified institutional buyer (QIB) portion was subscribed more than 261 times, while the non-institutional investor and retail portions were subscribed around 193 times and 40 times, respectively.
The investment comes at a time when demand for cloud computing, data storage, cybersecurity and digital infrastructure is accelerating, potentially creating a favourable operating environment for companies such as ESDS.

A substantial portion of the funds raised through the IPO is earmarked for strengthening the company’s digital infrastructure capabilities. Around Rs 576 crore is proposed to be invested in the purchase and installation of cloud-computing equipment and other data-centre infrastructure.

Time to be cautious, investors?

“Fresh investors should avoid chasing at current levels and wait for a meaningful correction, as valuations have become stretched (from a reasonable ~42x FY26 earnings at IPO to 140-170x now),” Santosh Meena, Head of Research at Swastika Investmart, told ETMarkets. Allotted investors, sitting on life-changing gains in days, should book partial profits aggressively (40-60% or more) to lock in returns while retaining a core holding for the longer-term story, given the high risk of sharp reversals once momentum fades.The rally mixes genuine thematic excitement with FOMO and scarcity premium; upside remains possible if AI capacity ramps smoothly and India’s cloud/GPU markets deliver the projected 20-50% CAGRs, but much of the multi-year optimism is already priced in, leaving limited margin of safety and elevated execution risk.

Fundamentally the industry looks robust: India’s data-centre capacity is set to expand several-fold by 2030 on the back of cloud adoption, data localisation, digitalisation and AI workloads, with significant capital commitments from hyperscalers and domestic players. ESDS is well-positioned as a full-stack sovereign-cloud and AI-infra provider with improving margins, sticky customers and expansion plans funded by the IPO, but near-term success hinges on timely capacity addition and contract delivery. Overall, treat it as a high-beta thematic bet, rewarding for early allottees who de-risk, risky for late entrants at peak valuations.

Disclaimer: This article has been written by Veer Sharma, who is not a SEBI-registered Research Analyst or an Investment Adviser. Veer Sharma and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.

It’s the chain’s first outlet in the West of England

US clothing brand Hollister is opening a new store at Gloucester Quays, it has announced. The fashion chain has signed for its debut outlet store in the South West – a 8,000 sq ft unit on High Orchard Street.

The store is next to the main entrance into Gloucester Quays’ outlet mall, and opposite retailers Sostrene Grene and All Saints.

Hollister, a brand of Abercrombie & Fitch Co, will sell men and women’s clothing, accessories and fragrance at “outlet prices”, according to shopping park operator Peel Retail & Leisure.

Gloucester Quays already has fashion brands including Jack Wills, Levi’s, The North Face, and Adidas.

Paul Carter, asset director at Peel Retail and Leisure, said: “Securing Hollister for its first South West outlet store is a fantastic milestone for Gloucester Quays. It demonstrates the strength of the destination, and our continued ability to attract sought-after and appealing brands, looking for the best locations and engaged audiences.

“Hollister is a quality addition to our fashion offer, one that was made possible by years of consistent footfall and sales growth, and a compelling tenant mix evolution that means Gloucester Quays is more relevant and interesting today than it was yesterday.”

The new signing comes just two months after Peel Retail & Leisure said it had achieved “a record-breaking start” to the year for Gloucester Quays, with rising H1 footfall, strong retail and leisure performance, and continued leasing momentum.

Across the first half of the year, overall footfall increased by 10 per cent year-on-year, reflecting the continued success of Gloucester Quays’ evolving tenant mix.

The shopping destination is already home to the only South West outlet location for fashion brand All Saints, while outdoor clothing chain Berghaus chose Gloucester Quays for its first standalone store in the region.

“Our strategy has always been to create a destination that offers desirable outlet shopping with a great mix of other uses, and these results demonstrate that approach is continuing to resonate with visitors,” added Mr Carter.

The Lang Partnership has put forward proposals to expand Bowdens Farm Business Park northward

A rural Somerset business park is looking to expand with new workshops and storage facilities under fresh proposals.

Bowdens Farm Business Park is located on the B3168 Hambridge Road just outside the small village of Hambridge, situated between Langport and Ilminster.

The business park hosts a number of thriving small enterprises, including the Brown and Forrest Smokery, the Teapot Creative marketing agency, Rifleman Firearms and the DCC Train Automation model train outlet.

The Lang Partnership, which owns and operates the site, has submitted plans to extend the site northwards with additional units — with Somerset Council anticipated to reach a decision on the proposals before Christmas.

The expansion will take place on arable land to the north of Bowdens Farm, adjacent to an existing woodland area and accessed via the current entrance road off Hambridge Road.

The plans involve constructing a new building to accommodate six workshops for light industrial purposes, delivering a total of 363 sq m of employment space.

Eight large storage containers (each measuring 29.7 sq m) and 52 smaller storage containers (each measuring 14.7 sq m) will also be installed, alongside 31 additional car parking spaces, two motorcycle bays, two cycle spaces, two disabled bays and one electric vehicle charging point.

A spokesperson for Clive Miller Architects (representing the applicant) said: “The proposed development provides employment opportunities that are appropriate to the scale of the settlement and will meet the local demand for such opportunities.

“It is immediately adjoining the existing business centre, is of a size which will enable the organic development of the facility over the coming years, and will help to compliment and sustain the existing business.

“It will also make a positive contribution to the farm enterprise as a whole during a period of likely serious challenge for the agricultural sector and the arable farming business.”

Both Curry Rivel Parish Council and Hambridge and Westport Parish Council have thrown their weight behind the proposals, noting that the development would bring new employment opportunities to the local area.

Hambridge and Westport parish clerk Louise Brooks said: “We fully support the proposed extension to Bowdens Farm Business Park.

“We feel that increasing the level of business activity on the site is positive for the local area, helping to support local employment, the rural economy and local trade.”

Somerset Council is expected to reach a decision on the proposals within the next three months, though it remains unclear whether this will be determined in a public hearing by its planning committee south, which oversees major applications within the former South Somerset area, or through the delegated authority of its planning officers.

Helen Watson was voted the first female senior partner of Aaron & Partners in early 2026, 19 years after joining as its first female equity partner. She has led the firm’s employment team for more than 16 years and is recommended by The Legal 500 in the North West and West Midlands. The independent firm has offices in Chester, Shrewsbury, Altrincham and the Wirral. She tells Business Matters why it intends to stay that way.

What do you currently do at Aaron & Partners?

As senior partner, I work closely with our wider leadership team to shape and deliver the strategy for Aaron & Partners, looking at how we continue to grow the firm and develop new opportunities across the North West, North Wales and the Midlands, as well as increasingly through our international relationships.

Alongside that, I head up our employment and immigration team, where I advise regional, national and international employers on a wide range of complex employment matters: discrimination and harassment, large-scale redundancies, TUPE, trade union negotiations and workplace investigations. I am also a mediator and I appear as an advocate in the employment tribunal, where the backlog of single claims reached a record 70,000 at the end of June.

It means my role is quite varied. One day I might be helping a client navigate a particularly difficult employment issue, and the next I will be looking more broadly at where we want to take the firm and the opportunities we should be pursuing.

What was the inspiration behind your business?

Aaron & Partners has always been very clear about what it wants to be as a law firm, especially at a time of significant consolidation in the legal sector. We are proudly independent and want to grow organically while remaining rooted in the regions and communities we serve.

That independence allows us to build long-term relationships with our clients and provide practical legal advice with a real understanding of the commercial challenges they face. For me, that level of client care is what really sets us apart, and it is something we are determined not to lose as we continue to grow.

Who do you admire?

Jacinda Ardern, the former Prime Minister of New Zealand. She was known for empathetic leadership, clear communication and decisiveness during crises, and she demonstrated that strength and kindness can coexist.

Looking back, is there anything you would have done differently?

As I am leading a successful team and firm, it is hard to reflect on anything I would have done differently. I became the first female owning partner the year I joined the firm, and have subsequently become the first female senior partner.

I have always been a single parent to a son who is just about to turn 21. Alongside the day job, I hope I will always be viewed and remembered as significantly contributing to charity and giving back to the community, which is very important to me. I chair Theatr Clwyd, which has been through a capital redevelopment of more than £50m, I am an ambassador and former chair of Claire House Children’s Hospice, and I spent 11 years as chair of the Institute of Directors in North Wales. Over the last decade I have raised more than £200,000 for local causes.

What defines your way of doing business?

From my perspective, relationship building always has to be at the core, and I believe we are only as good as the relationships we build. Whether it is with a client, a colleague or someone I have met through one of the various organisations I am involved with, I have always believed in taking the time to get to know people properly and understand what matters to them.

I also think we have to demystify the legal profession. There is probably still a misconception that law is a stuffy, corporate world full of legal jargon. While some firms might be like that, at Aaron & Partners we believe in providing practical legal answers to practical problems. Ultimately, people want approachable lawyers they can talk to comfortably, and that is something I have always tried to bring to the way my team and I work.

What advice would you give to someone starting out?

Do not become so worried about risk that it stops you from taking opportunities. Running a business has probably never felt more complex, especially as employers are dealing with rising costs, changes to employment law, inflation and countless other pressures. But if you focus on every potential problem, it would be very easy to talk yourself out of starting a business altogether.

That does not mean ignoring the risks, but if you have done your homework, believe in the idea and made a sound judgement that there is a business opportunity there, back yourself.

It is also important to build a good team around you from the off. Whether that is employees, lawyers, accountants or other advisers, lean on their expertise. The best business owners I work with know what they are good at, but they also know when to ask someone else for help.