There is no legitimate reason for nicotine products to come in neon packaging, feature cartoon images, or use flavours and branding designed to catch a child’s eye, say health experts.

Murray said: “The evidence is clear: there are too many young people experimenting with vapes, attracted by the array of flavours, bright colours and marketing displays.

“We must act now to reduce the appeal of addictive vapes to our children.

“Vapes are less harmful than cigarettes and can play an important role in helping adult smokers to quit, but they should never be designed or marketed in ways that tempt children.

“These proposals are about striking the right balance and I urge everyone to have their say.”

The 100 day consultation follows the recent passing of the Tobacco and Vapes Act, which sets out proposals to create the UK’s first smoke-free generation, protecting children from nicotine addiction, while ensuring adult smokers can still access vaping products to help them quit.

Children aged 17 or younger now face a lifelong ban on buying cigarettes, since it will be illegal for shops to sell tobacco to anyone born after 1 January 2009.

And it gives the power to ban vaping in cars carrying children, in playgrounds and outside schools and at hospitals, expanding smoke-free laws.

It follows a ban on single-use vapes and comes ahead of future bans on the sale of vapes from vending machines and a planned end to the advertising and sponsorship of vapes.

Around one million or nearly one in every five 11-17 year olds in Great Britain reported trying vaping in 2025, according to the charity Action on Smoking and Health.

The consultation also proposes inserts for cigarette packs telling buyers where to get help to quit and plans to make all tobacco products – including cigarette rolling paper and cigars – come in plain packaging.

The shares of Dr Reddy’s Laboratories tumbled another 4% on Friday, extending their decline to more than 9% over two days after the company said commercial supplies of its semaglutide product would be delayed due to a quality-related issue involving the active pharmaceutical ingredient (API) used in certain batches.

The pharma company’s shares fell to Rs 1,222 apiece, their lowest level in nearly three months, wiping out more than Rs 10,600 crore in market capitalisation over two sessions and taking its market value below Rs 1.02 lakh crore.

Dr Reddy’s Labs on Thursday announced that certain batches of semaglutide were found to be out of specification due to an issue associated with the active pharmaceutical ingredient (API) used in the product. It added that it is investigating the root cause and taking appropriate measures to ensure product quality.

“Until the issue is resolved, commercial supplies of the product will be delayed for a certain period of time. There is no impact on patient safety or on the product’s existing global regulatory filings. We remain committed to ensuring reliable global supplies of this important metabolic therapy,” the company said.

Nuvama on Dr Reddy’s Labs share price

Nuvama maintained its ‘Buy’ rating on the shares of Dr Reddy’s Labs, but reduced its target price to Rs 1,465 apiece from Rs 1,560 apiece. The latest target price implies an upside potential of more than 15% from the stock’s previous closing price.
The brokerage said that the latest development process-driven setback, although an extended halt can be a challenge to the company’s FY27 earnings. “We reckon this affects the near-term ramp-up, with supply to the CMO partner being halted until validation is complete. DRRD now expects to supply 6–7 million pens in FY27. While Abatacept approval remains on track for December 2026 and anchors our core thesis, the semaglutide API issue raises the risk to our estimates. Semaglutide’s contribution would now be missing in Q2 FY27,” it added.
JM Financial on Dr Reddy’s Labs share price

JM Financial maintained its ‘Buy’ rating on the shares of Dr Reddy’s Labs, but cut its target price to Rs 1,561 apiece from Rs 1,596 apiece. The latest target price implies an upside potential of nearly 23% from the stock’s previous closing price.

The domestic brokerage slashed its revenue, EBITDA and profit after tax estimates for FY27 by 7%, 16% and 18%, respectively. “We believe the company will be able to ramp up its operations to the previously guided levels by FY28. In addition, the Abatacept opportunity in FY28 should drive the EPS to Rs 78. The stock currently trades at 16x FY28 earnings, which we view as attractive given the upcoming growth catalysts,” it added.

Also read: Dr Reddy’s shares slide after delay in semaglutide supplies over quality concerns

Motilal Oswal on Dr Reddy’s Labs share price

Motilal Oswal maintained its ‘Neutral’ rating on the shares of Dr Reddy’s Labs, with a revised target price of Rs 1,210 apiece. The latest target price implies a downside potential of nearly 5% from the stock’s previous closing price.

The domestic brokerage highlighted that the delay in the commercial supply of semaglutide, due to an out-of-specification impurity issue in the semaglutide formulation, is expected to postpone the product ramp-up. “Factoring in the slower semaglutide ramp-up, we cut our FY27/FY28 earnings estimates by nearly 11%/2%, respectively…While earnings are likely to remain under pressure in FY27 amid lower g-Revlimid contribution and delayed semaglutide supplies, we expect recovery from FY28 onwards, driven by normalisation in semaglutide sales, improving base business growth, and potential Abatacept approval,” it added.

Systematix on Dr Reddy’s Labs share price

Systematix Institutional Equities downgraded its rating on the shares of Dr Reddy’s Labs from ‘Buy’ to ‘Hold’, and reduced its target price to Rs 1,398 apiece, implying a 10% downside potential.

The brokerage believes that execution risk remains, with the possibility of further delays should the validation process take longer than anticipated. That said, its FY27 forecasts had already incorporated a prudent launch ramp-up, with volume assumptions materially below management’s revised guidance of 6–7 million pens and therefore remain largely unchanged, it added.

“However, we believe the temporary disruption could diminish Dr Reddy’s first-mover advantage, allowing competing players to enter the market earlier and potentially moderating pricing power and market share gains over the medium term,” the brokerage said.

Also read: Dr Reddy’s pauses weight loss drug on quality fears

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

Authentic Brands Group (ABG) is putting a plan in place for Lee overseas.

The global brand development, marketing and entertainment platform announced a new long-term partnership with strategic retail and distribution firm Experience Group for Lee across Europe.

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Madrid-based Experience Group will serve as Lee‘s operating partner across Europe leveraging its regional expertise, operating infrastructure and product capabilities to support the next phase of growth for the brand.

The agreement covers men’s and women’s sportswear, activewear and workwear. ABG said it is designed to strengthen Lee’s presence across wholesale, retail and e-commerce channels while expanding the brand’s reach in international markets.

“This partnership is an important step in Lee’s international expansion strategy and reflects the strength of our platform model,” said Henry Stupp, president, EMEAI at Authentic. “Experience Group brings deep knowledge of the region, proven operating capabilities and a clear understanding of how to build brands across channels. Together, we see a significant opportunity to grow Lee’s presence across Europe while continuing to deliver the products and experiences consumers know and love.”

The partnership will take effect following the closing of ABG’s acquisition of the heritage denim brand, which is expected to close in the second half of 2026. In May, ABG signed a definitive agreement with Kontoor Brands Inc. to acquire Lee in a deal valued at up to $1 billion.

Experience Group owns and operates retail and wholesale businesses under license partnerships with international corporations including Vans, Columbia, New Era, Sperry and more. It operates more than 100 stores across five European countries and operates a logistics platform and distribution network.

“We are proud to partner with Authentic on the next chapter of Lee’s growth across Europe,” said Nacho Puig, Experience Group CEO and co-founder. “Lee is a brand with global recognition and a strong foundation in denim and lifestyle. We look forward to building on that legacy by bringing Lee’s denim heritage, craftsmanship and product offering to more consumers across the region while creating new opportunities for the brand’s future.”

Last month, ABG announced a partnership with One Jeanswear Group for the U.S. and Canada.

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Telecom major Bharti Airtel on Friday fixed July 24 (Friday) as the record date to determine eligibility of shareholders for its highest-ever annual dividend payout of Rs 24 per share for the financial year which ended on March 31, 2026.

Bharti Airtel, in May, announced that its board of directors recommended a final dividend of Rs 24 per fully paid-up equity share for FY26, subject to shareholders’ approval. This comes after the company paid a dividend of Rs 16 per share in July last year, and Rs 8 per share in the year before.

The telco has declared 22 dividends since July, 2009, and currently has a dividend yield of 0.84%, according to data on Trendlyne.

How to be eligible for Bharti Airtel’s dividend?

Bharti Airtel in an exchange filing released on Friday said that the Rs 24 dividend will be paid to shareholders whose names appear in the depository records as at close of business hours on Friday, July 24. This effectively makes July 23 (Thursday) the last date for interested investors to buy shares of the company to be eligible for the dividend payout.

Under Sebi’s T+1 settlement cycle, investors must purchase a company’s shares at least one trading day before the record date to ensure the shares are credited to their demat accounts in time, and they become eligible for the corporate action. Therefore, July 23 would be the last opportunity for investors to buy the shares so that they are credited to their accounts by July 24, making them eligible for Bharti Airtel’s dividend.

Also read: TCS announces interim dividend of Rs 12 per share. Check record date

Bharti Airtel share price

Bharti Airtel shares dropped nearly 1% to trade at Rs 1,915 apiece, as seen at 11.50 am on Friday. The stock has gained around 8% in one month but dropped more than 9% in 2026 so far and 3% in one year. In the longer term, the shares of the company have delivered 116% returns over three years and 261% over five years.

Nomura in a recent note named Bharti Airtel its top telecom pick and increased its target price to Rs 2,355 apiece, while highlighting that the implied valuation discount when compared to Reliance Industries’ Jio Platform is unwarranted.
The international brokerage maintained its ‘Buy’ call on the stock. The latest target price implies an upside potential of nearly 22% from the stock’s previous closing price of Rs 1,931.10 apiece on NSE.Also read: 10 reasons why Nomura stays bullish on Bharti Airtel

Calling Bharti Airtel an “ARPU compounder with multiple optionalities”, Nomura said that it is one of India’s premium telecom companies, and a structural beneficiary of a consolidated three-player market. “With 5G rollout largely complete and capex intensity past its peak, we believe the resulting strong FCF generation is playing out into a deleveraging cycle,” it said.

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

Newgen Software Technologies shares surged 14.63% to Rs 541.65 during Friday’s trading session, riding a broad-based rally in the information technology sector. The stock gained alongside leading IT names as the Nifty IT index advanced more than 2%, supported by upbeat investor sentiment following Tata Consultancy Services‘ (TCS) better-than-expected first-quarter earnings.

Among largecap IT stocks, Infosys, Wipro, HCL Technologies, and Tech Mahindra climbed as much as 4%, reflecting renewed optimism over the sector’s earnings outlook.

Earlier this month, Newgen Software announced key changes to its top management. At its meeting held on July 2, the company’s board approved a leadership transition following the resignation of Virender Jeet as Chief Executive Officer (CEO) and Key Managerial Personnel (KMP), effective from the close of business on August 31, 2026. The resignation had earlier been noted by the board during its meeting on June 12, 2026.

The board appointed Tarun Nandwani as the new Chief Executive Officer and Key Managerial Personnel, while Pramod Kumar was named Chief Growth Officer (CGO) and designated as a Key Managerial Personnel.

Q1 FY27 Results on July 16

In a regulatory filing dated July 9, the company informed the BSE that its board will meet on July 16, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. Investors will closely monitor the upcoming earnings for cues on business momentum and management’s outlook following the leadership transition.
Technical Outlook and Valuation SnapshotFrom a technical perspective, Newgen Software is showing signs of improving momentum. The stock’s 14-day Relative Strength Index (RSI) stands at 49.1, indicating neutral momentum, with RSI readings below 30 considered oversold and above 70 considered overbought.

The stock is also trading above six of its eight key simple moving averages (SMAs), suggesting a constructive medium-term trend.

On the valuation front, Newgen Software trades at a price-to-earnings (P/E) ratio of 22.41, a price-to-sales (P/S) ratio of 3.61, and a price-to-book (P/B) ratio of 3.79.

Shareholding data for the March 2026 quarter showed a reduction in institutional ownership. Foreign Institutional Investors (FIIs) trimmed their stake to 14.48% from 17.34%, while Mutual Funds reduced their holdings to 3.33% from 4.12%, indicating some moderation in institutional participation despite the stock’s recent rally.

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

The Liverpool City Region is set to take back control of its trains under proposals from Mayor Steve Rotheram

The Liverpool City Region is poised to bring its trains back under public control following groundbreaking proposals unveiled by Mayor Steve Rotheram. A report due before the Liverpool City Region Combined Authority next week recommends that rail services currently run under the Merseyrail concession be returned to public ownership when the existing contract expires in 2028.

The decision would mark another significant milestone towards the mayor’s longstanding commitment to establish a transport system where trains, buses, ferries, active travel and future rapid transit services operate as one unified network.

The proposals represent part of the most substantial overhaul of public transport in the Liverpool City Region for generations. The city region is presently bringing its bus network back under public control — with the first franchised services due to commence later this year.

It is anticipated that the landmark shift to bring Merseyrail services into public ownership would facilitate the creation of a single, integrated network alongside buses and ferries — simplifying journeys, enhancing connections between different transport modes and affording the Liverpool City Region greater autonomy to determine its own transport destiny.

The proposals would also unlock opportunities to channel more funding back into services and future improvements, helping to guarantee that the advantages of the network are experienced by passengers and communities throughout the city region. Should the proposal receive approval, detailed planning work will progress before the existing concession expires in 2028, reports the Liverpool Echo.

Mr Rotheram said: “Since becoming mayor, I’ve been determined to build a transport network that works better for the people who rely on it every day – one that’s easier to use, better connected and designed around passengers.

“We’ve already introduced the country’s first publicly owned train fleet in a generation, delivered new rail stations, taken back control of our buses, rolled out tap-and-go ticketing and started laying the foundations for a rapid transit network.

“Now we have the opportunity to take back control of our trains too.

“Merseyrail is already one of the best-performing rail networks in the country and that’s a credit to the people who run it every day. But the challenge now isn’t simply running a successful railway – it’s bringing together all the different parts of our transport network so they work as one.

“People don’t obsess about whether they are getting on a bus, a train or a ferry – they just want to get where they’re going as quickly and cheaply as possible. My ambition is simple: one network, one vision, working in the interests of the 1.6 million people who call our city region home.

“Taking back control of our trains will help us do exactly that. It will give us greater freedom to join up services, improve connections, reinvest more money back into the network and make decisions based on what works for passengers.

“We’ve been pioneers before. Nearly 200 years ago, the world’s first inter-city railway ran between Liverpool and Manchester. Today, we have another chance to lead the way – building a modern integrated public transport system fit for a globally renowned city region like ours.”

If English devolution deepens under Burnham the competitive pressures on Wales will increase

For Wales the prospect of an Andy Burnham premiership should not be viewed through the usual PR-driven prism of Labour politics or Westminster personalities.

The more important question is what his approach to power and economic development would mean for a nation that already has devolved government yet still struggles to turn it into a sustained economic advantage.

Burnham’s political appeal has always rested on something different from the standard Westminster offer. He has consistently spoken the language of place and built a reputation in Greater Manchester around transport, housing, skills, local accountability and a more muscular form of regional leadership.

Whether one agrees with every aspect of his record or not, he has shown that English city regions can become serious political and economic actors in their own right.

That is why Wales should pay close attention because if a Burnham-led UK Government were to accelerate devolution within England, then the implications for Wales could be significant.

Not because such a policy would be anti-Welsh, but because it could create a much more competitive set of English regions, each with stronger leadership, clearer economic priorities and greater freedom to act.

For years, Wales has often compared itself with England as a whole, which is the wrong comparison because the real competition increasingly comes from Manchester, Birmingham, Liverpool, Leeds, Bristol and Newcastle, each of which is trying to position itself as a destination for investment, talent, innovation and infrastructure.

If those places are given more power over skills, transport, planning, housing, business support and inward investment, they will not wait for Wales to catch up.

That is the challenge, and Wales already has a devolved government, its own economic development responsibilities, its own education system, and its own ability to shape policy in areas that matter directly to business. Yet too often, the machinery of economic development in Wales feels slow and fragmented, with little visible urgency in the basic task of growing the Welsh economy.

If English devolution deepens under Burnham, the competitive pressures on Wales will increase in five areas. The first is inward investment, and a powerful mayoral authority with a clear proposition can go to investors and say, with confidence, what it stands for, which sectors it wants to build, what infrastructure it can offer, and how quickly it can help firms make decisions.

Wales should be able to do the same, but too often our proposition is obscured by institutional complexity and inter-regional competition.

The second is skills, and Burnham has long understood that local economies cannot be transformed if the skills system is disconnected from employers. If English regions gain more influence over training, employment support and technical education, they will be able to align their workforce more closely with growth sectors.

Wales already has many of these levers but having powers and using them well are not the same thing, and our further education colleges and universities need to be part of a much more coherent national mission than they have been for the last 27 years.

The third is infrastructure, and Greater Manchester’s transport agenda has been central to Burnham’s identity as a leader. He understands that buses, trains, housing and employment sites are not separate issues, but shape whether people can access jobs, whether firms can recruit and whether places can grow.

Wales cannot afford to treat infrastructure as a series of disconnected projects. Whilst South East Wales has benefited from public investment, the rest of Wales – especially North Wales – has been left behind.

The fourth is political influence, and whilst a Burnham premiership might be more sympathetic to places outside London, it could also mean that powerful English mayors become even more influential within Whitehall. They will be in the room arguing for funding, freedoms and investment, and Wales cannot assume that its status as a devolved nation automatically gives it priority.

The fifth is enterprise, and this is where the issue becomes most urgent, as Wales lacks enough businesses. Our business density remains below the UK average, and our start-up and scale-up rates are not where they need to be.

A more entrepreneurial England, driven by assertive regional leadership and stronger local economic tools, would place Wales under even greater pressure unless we respond with a serious strategy for business creation and scale-up of our own.

None of this means we should oppose further English devolution as there is no long-term benefit to Wales in an over-centralised neighbour dominated by Whitehall and London. But if English regions are given new powers, the Welsh Government needs to ask itself a harder question, namely what have we done with the powers we already have, and what more can we do?

It is easy to call for more devolution, but harder to show that existing powers are being used with sufficient purpose, especially when Wales desperately needs a sharper economic development model, business-facing economic leadership, and backing for entrepreneurs.

Above all, Wales needs to take competitiveness much more seriously. An Andy Burnham premiership would not necessarily weaken Wales as it could create an opportunity for a new economic settlement across the UK, one in which places outside London finally receive greater power, attention and resources.

But it will weaken Wales if we respond passively, and if English city-regions are given more tools and use them with ambition while those running our nation continue with slow decision-making and institutional caution, the gap will widen.

And that won’t be because England has too much devolution, but because Wales has failed to make the most of its own.

That is the real lesson, and a Burnham premiership may simply expose what has long been true, namely that Wales cannot rely on constitutional status alone.

If increased English devolution forces Wales to become more ambitious, it may prove a useful shock, but if it merely leaves us complaining from the sidelines while the English regions get on with the job, then we will have no one else to blame but ourselves.