Speaking to ET Now, he noted that recent short covering has helped the market rebound from lower levels, yet the broader concern remains whether indices are trading above fair value given growth and inflation expectations. He added that while liquidity will always provide a floor to markets, that does not necessarily mean valuations are appropriate at current levels.

Dalal said he remains cautious on the overall market construct, arguing that earnings visibility for FY27 looks weak and could weigh on sentiment. He stated that although markets are forward-looking and often discount FY28 recovery scenarios, uncertainty over global and domestic developments makes those assumptions fragile. He also flagged unpredictability in global leadership and policy direction, suggesting that external factors could easily alter growth expectations over the coming months. Despite this, he acknowledged that liquidity will continue to support quality large caps, though he believes markets may still be ahead of fundamentals in the short term.

On sectors, he expressed caution on metals, advising investors to avoid chasing the space after strong rallies. He explained that commodity cycles often peak when sentiment is strongest, as rising prices temporarily boost profits and make valuations appear attractive. However, he warned that this stage is typically followed by demand destruction and margin compression. Referring to vertically integrated players such as Tata Steel and Hindustan Copper, he said investors often misread peak-cycle valuations as opportunity. His view is that commodities are best bought when the cycle is weak and valuations look unattractive, not when conditions appear strong. While short-term gains may still be possible, he believes long-term risk increases significantly if investors enter late in the cycle.

On real estate, Dalal maintained a constructive long-term outlook despite near-term softness. He said India’s property market remains structurally strong, though the mid-income segment is currently under pressure and may stay subdued for the next year to 18 months. He highlighted continued strength in premium and luxury housing, while noting that developers with exposure to large urban markets are better positioned to benefit from improving cash flows over time. He cited DLF, Prestige Estates Projects, and Godrej Properties as key players likely to benefit as collections improve and completed projects begin generating stronger cash flows. However, he cautioned that rising inflation and potential interest rate pressures could delay recovery in the sector, which typically struggles in tighter monetary conditions.

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On banking, Dalal remained firmly positive, calling it one of the strongest structural themes in India’s equity market. He noted that despite muted stock performance in recent years, valuations for private sector banks have corrected and now appear more reasonable. He highlighted HDFC Bank as a long-term compounding story still playing out, supported by improving cost of funds dynamics post-merger. He also pointed to ICICI Bank, Axis Bank, and State Bank of India as key beneficiaries of India’s credit-led growth cycle. Additionally, he said higher-risk lenders such as IndusInd Bank, IDFC First Bank, RBL Bank, and Yes Bank could offer sharper upside, albeit with higher risk. He concluded that investors may consider either selective stock picking or a broader banking ETF for medium-term exposure, as the sector remains well-positioned for India’s long-term growth story.

Marshall Land Systems has informed staff it plans to relocate from Cambridge to Merthyr

A leading defence firm has confirmed plans to relocate from Cambridge to South Wales in an investment expected to create 250 jobs.

Marshall Land Systems, which designs and manufactures specialist deployable defence infrastructure, has informed its staff that it plans to move to Merthyr with a consultation under way.

The business was acquired last year from family-owned Marshall Group by Canadian investment firm Flowing River Capital Partners. At the time of the acquisition they were aware of the relocation requirement with Marshall Group looking to sell land around Cambridge Airport – where Marshall Land Systems and other group companies are based -for residential development.

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The firm’s current Cambridge operation employs 158 people, alongside 59 fixed-term agency contractors. However, the new owners are upbeat about the company’s growth and job-creating prospects.

A spokesperson for the company, which also has sites in Canada and the Netherlands with a total workforce of around 500, said: “Marshall Land Systems needs to relocate from its current home due to redevelopment of the area around Cambridge Airport. We’ve looked at potential facilities close to Cambridge and more widely across the UK. Subject to employee consultation, it is our intention to establish a manufacturing/assembly facility in Merthyr Tydfil.

“We are currently consulting with our impacted workforce and unions about the proposal.” Depending on the outcome of the consultation process, we will be offering impacted employees the opportunity to relocate.

“If we go ahead with the proposal and establish the facility in Merthyr, we will bring a currently mothballed industrial facility back into use, providing a base for growth and expansion for the company. We will be creating up to 250 permanent jobs over five years.

“The proposed move makes financial and industrial sense in terms of supply chain, local industry, and the Welsh Defence Growth Deal.”

The company wouldn’t comment on a precise location in Merthyr and only referred back to its statement.

However, with a lack of large scale industrial units in the town, a likely location is a vacant factory and office site that was occupied by Vision Modular Systems. It extends to 191,600 sq ft and occupies a 8.2 acres at Merthyr Industrial Park. The building is being marketed by the Cardiff office of property advisory firm Knight Frank.

It is anticipated that the new Merthyr site will become operational by the end of the year.

The Welsh Government said: “We welcome the decision by Marshall, subject to staff consultation, to move their manufacturing operation to Merthyr Tydfil.

“This shows Wales is an attractive location for investment and this new government is determined and focused on bringing many more jobs here.”

Announcing its acquisition last November, Thomas Benjoe, chief executive of Flowing River Capital Partners, confirmed plans to expand the business. He said: “Marshall Land Systems has a tremendous pedigree, a highly capable workforce and management team, and strong opportunities for growth in the strategically important defence market as Canada and its allies focus on national capability and international partnership.

“This acquisition is a perfect fit, advancing our ambition to build a thriving portfolio of companies while staying true to our values of community stewardship, sustainability, and collaboration. We look forward to working with the team to grow the business.”

“Economy is well placed despite external disturbances”

Commenting on the current market construct, Tawakley said the view on markets must be anchored to the economic outlook.

“So, the way I see it, the view on the market has to follow the view on the economy. And while there is some stress because of the situation in West Asia, overall the economy is very well placed. Demand is picking up and there is still some spare capacity. So, cyclically the economy, aside from this disturbance from West Asia, the domestic setup is actually very-very good because when you have demand picking up, you should get good revenue growth and as capacity utilisation improves, in most sectors you should see some pickup in the margins. Having said that, valuations are not super cheap, so one has to be selective. I personally prefer domestic cyclical stuff like financials, cement, automobiles, capital goods selectively.”

Financials: preference for private banks and insurance

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On the financial sector, Tawakley clearly differentiated between segments, cautioning against capital market-linked plays while favouring banks and insurers.
“So, let us break it up firstly into capital markets-driven plays and the others. Capital markets are probably at peak of the cycle, so I would avoid the capital markets space. What I like are banks and insurance companies. Banks eventually volume growth will pick up, particularly if there is some easing, some correction in the stock market, the volumes which is deposit and lending in the banking sector should pick up and then the large private banks are very well placed. Also, insurance companies have taken a lot of beating on account of regulatory risks. My view on insurance is that look even if there is some regulatory tightening, a lot of that burden will be passed on to the distributors because insurance companies are not making supernormal profits and if there is some regulatory tightening in terms of expense ratios, etc, those burdens will be passed through to the distributors.”
PSU banks: cycle likely peaked
On PSU banks, which had recently outperformed private peers, Tawakley suggested caution going forward.

“I think that trade has played out quite well, but I would not put in fresh money into that trade. A lot of the growth came because the PSU banks were sitting on very low LDRs, so they were able to ramp up their LDRs and therefore lend more because they had surplus deposits, but now LDRs have kind of peaked and from here expecting further moderation in credit costs would be unlikely. So, I am not that positive on the PSU banks from here on. I significantly prefer the large private sector banks.”

He added that private banks now appear more attractive on valuations after underperforming for some time.

“No, they have underperformed quite a bit and therefore valuations are far more palatable.”

Consumption: inflation misunderstood, FMCG under pressure
On consumption, Tawakley downplayed concerns around inflation, calling it largely transitory, but expressed caution on FMCG margins.

“See, this inflation is a little bit misunderstood. This is not recurring inflation firstly. It is a one-off step up in prices which is different from recurring inflation. Recurring inflation happens when demand is very strong, that is not the case here. So, once this oil price hike has been passed through and those numbers are in the base, the inflation picture will moderate.”

He remained constructive on autos but cautious on FMCG.

“So, the question really is like if the domestic economy does well, it is always these sectors where there is spare capacity and demand is healthy that do well, which includes auto by the way. Where I am cautious on the consumption piece is the FMCG pack. The problem there is not that demand is not good, the problem there is that margins are too high and these companies are not investing enough in their businesses whether in terms of new product launches, marketing, A&P, and why we see their demand looking weak is because they are not creating enough excitement in their products, lower-end competitors are taking advantage of the very high margins they are offering and taking market share. So, I do not think the problem with the consumption piece is the economy, it is more that their own margin profile is way too high for them to sustain growth.”

On margin trajectory, he expects gradual adjustment.

“I think some of them have started doing that, I have acknowledged it, but there is more to go. And these companies are actually very good companies fundamentally, but they do need to reset their margins downwards and invest more in the businesses.”

Capex: demand will lead investment cycle
On the private capex debate, Tawakley argued that investment always follows utilisation, not sentiment.

“See, capex always follows capacity utilisation. When capacity utilisation picks up, capex happens. There is no point talking about capex if there is still spare capacity in the economy.”

He pointed to ongoing investment in core sectors.

“You look at which are the heavy capex sectors in the economy and see whether they have done capex or not. Cement has added capacity, power has added capacity although power has added capacity with lower spending because renewable capex is more capital efficient. Steel has added capacity. So, steel, cement, power, auto all four heavy capex sectors have added capacity. So, why do we say that there is no capex?”

IT sector: structural shift and margin pressure
On IT services, Tawakley struck a cautious tone, noting a divergence between overall exports and listed IT performance.

“See, IT I am struggling with. The reality is that the Indian listed IT companies are not doing well, but if you look at overall IT services exports from the country, that data is still pretty healthy. So, I do not think there is a problem with Indian IT if you include in that all the GCCs, all the back offices of global IT services providers like Accenture, Capgemini.”

He added that structural shifts and competition are reshaping the industry.

“So, what we are seeing is a change in the competitive environment… As these global banks, the users have become more and more comfortable with India, they are setting up their own shops as GCCs and that is the new reference cost base there.”

He also flagged weak hiring trends as a concern.

“So, if you look at the Indian IT companies, the staff count numbers are still flattish at best, so that does not suggest to me that the companies themselves are particularly confident about demand.”

As legal systems across the country continue to face growing caseloads, rising costs, and increasingly complex disputes, mediation has emerged as one of the most effective alternatives to traditional courtroom litigation. For experienced professionals in the field of dispute resolution, the shift reflects more than convenience. It represents a broader recognition that many conflicts are better resolved through collaboration, communication, and structured negotiation rather than prolonged legal battles.

For Christopher Leroi, an experienced mediator, former judge, and legal professional with decades of experience in public service and conflict resolution, mediation offers a practical and human-centered path forward. Drawing on years of courtroom experience, public policy leadership, and work across nonprofit and legal sectors, Christopher Leroi has consistently emphasized the long-term value of resolving disputes in ways that preserve relationships, reduce unnecessary conflict, and encourage constructive outcomes.

The conversation around mediation vs litigation has become increasingly relevant in recent years as businesses, families, organizations, and individuals search for more efficient and less adversarial ways to resolve disputes. While litigation remains necessary in some circumstances, mediation has gained recognition as a flexible and highly effective form of dispute resolution that can often deliver stronger long-term results for all parties involved.

Why More People Are Choosing Mediation

One of the primary reasons mediation continues to grow is the increasing burden associated with traditional litigation. Court proceedings can take months or even years to conclude, particularly in jurisdictions facing crowded dockets and administrative delays. During that time, legal expenses continue to rise, and emotional strain often intensifies.

For many individuals and organizations, litigation also creates an environment where conflict becomes amplified rather than resolved. Courtroom proceedings are inherently adversarial. Each side presents arguments designed to prevail over the other, which can deepen divisions and make future cooperation difficult.

Mediation offers a different framework. Instead of focusing exclusively on winning or losing, mediation encourages parties to identify shared interests, practical solutions, and mutually acceptable outcomes. This collaborative structure has become increasingly attractive in family disputes, workplace conflicts, nonprofit disagreements, and commercial matters where preserving communication remains important.

Christopher Leroi attorney perspectives on mediation reflect this broader shift in legal thinking. Professionals with judicial experience often recognize that even when litigation produces a formal legal outcome, it does not always resolve the underlying tensions between parties. Mediation creates space for those issues to be addressed directly and constructively.

The appeal of mediation also stems from the growing recognition that many disputes are not purely legal in nature. Emotions, communication breakdowns, and competing expectations frequently shape conflict just as much as statutes or legal arguments. Effective mediation acknowledges those realities while guiding parties toward practical resolution.

Cost and Time Efficiency of Mediation

The financial realities of litigation continue to influence how individuals and organizations approach conflict resolution. Attorney fees, discovery costs, court filings, expert witnesses, and prolonged proceedings can place significant strain on all parties involved. In many cases, litigation expenses escalate far beyond what participants initially anticipated.

Mediation typically provides a more cost-effective alternative. Because the process is designed to encourage resolution rather than prolonged procedural conflict, disputes can often be resolved in a fraction of the time required for traditional litigation. Shorter timelines generally translate into lower overall legal expenses and reduced disruption for everyone involved.

Another major advantage involves scheduling flexibility. Court calendars are often rigid and dependent on judicial availability. Mediation sessions, particularly virtual sessions, can frequently be scheduled around the needs of the parties, attorneys, and organizations involved. That flexibility can be especially valuable in disputes involving businesses, nonprofits, or parties located in different states.

Christopher Leroi has spent years working within both judicial systems and mediation environments, giving him a practical understanding of the strengths and limitations of each process. His experience as a former judge provides insight into courtroom realities, while his work as a mediator reflects a commitment to finding efficient and sustainable resolutions outside of prolonged litigation.

The reduction in stress is another factor driving interest in mediation vs litigation. Court proceedings often involve uncertainty, procedural complexity, and public confrontation. Mediation generally creates a more controlled environment where participants can focus on problem-solving rather than escalation.

That difference can have meaningful long-term effects, particularly in disputes where ongoing interaction between parties is unavoidable.

Preserving Relationships Through Mediation

One of mediation’s most significant advantages is its ability to preserve relationships that might otherwise be permanently damaged through adversarial litigation.

In family disputes, workplace disagreements, nonprofit conflicts, and organizational matters, parties often need to continue interacting long after the legal issue itself has been resolved. Traditional litigation can make those future interactions far more difficult by reinforcing hostility and distrust.

Mediation approaches conflict differently. Instead of framing the dispute as a contest between opposing sides, the process encourages communication, active listening, and collaborative problem-solving. While disagreements may remain serious, the structure of mediation allows parties to engage in a way that is often more respectful and productive.

Christopher Leroi attorney experience in mediation emphasizes the importance of helping parties move from emotional positions toward practical dialogue. In many cases, individuals involved in conflict simply want to feel heard and understood before meaningful negotiation can occur. Effective mediators recognize that emotional dynamics frequently influence legal disputes and that acknowledging those concerns can help create momentum toward resolution.

This relationship-centered approach can lead to more durable outcomes. Agreements reached collaboratively are often more likely to be honored because both parties participated directly in shaping the resolution. That sense of ownership can reduce the likelihood of future disputes and strengthen long-term cooperation.

In workplace settings, preserving professional relationships can protect organizational culture and employee morale. In nonprofit and community disputes, mediation can help maintain partnerships and public trust. In family matters, collaborative resolution can reduce ongoing tension and create healthier communication moving forward.

These long-term benefits help explain why mediation continues to gain support across multiple sectors of dispute resolution.

The Importance of Flexibility and Confidentiality

Another important distinction in the mediation vs litigation discussion involves flexibility. Court rulings are generally constrained by statutes, legal precedent, and formal procedural rules. Judges issue decisions within a defined legal framework, which can sometimes limit the range of possible outcomes.

Mediation offers significantly greater flexibility. Parties can negotiate creative solutions tailored to their specific circumstances, priorities, and future needs. This ability to craft customized agreements often produces outcomes that are more practical and sustainable than strictly court-imposed resolutions.

Confidentiality also plays an important role. Litigation typically creates public records and courtroom proceedings that may become accessible to others. Mediation sessions, by contrast, are generally private and confidential. For businesses, nonprofits, professionals, and families, that privacy can be especially valuable.

Confidentiality encourages more open dialogue and allows parties to discuss concerns candidly without fear that statements will later become part of a public proceeding. This environment often promotes honesty, transparency, and a greater willingness to compromise.

Christopher Leroi has consistently emphasized the value of balanced and neutral facilitation in productive dispute resolution. Effective mediation requires more than legal knowledge alone. It also depends on communication skills, patience, emotional awareness, and the ability to maintain trust among all participants.

By creating an environment where parties feel respected and heard, mediators can often guide difficult conversations toward meaningful progress even in highly contentious disputes.

The Growth of Virtual Mediation and Nationwide Accessibility

Technology has transformed nearly every area of professional life, and mediation is no exception. Virtual mediation has expanded significantly in recent years, allowing parties to participate in dispute resolution sessions remotely from different cities and states.

This shift has improved accessibility while reducing travel costs and scheduling barriers. For many participants, virtual mediation offers greater convenience and flexibility without sacrificing the effectiveness of the process itself.

Online dispute resolution has proven especially valuable in cases involving geographically dispersed parties, organizations operating across multiple states, or individuals with demanding schedules. Remote participation can also create a more comfortable environment for some participants, particularly in emotionally sensitive disputes.

Christopher Leroi attorney work reflects a broader understanding of how modern mediation continues to evolve alongside technology and changing professional expectations. Experience across different jurisdictions can provide valuable perspective on how legal frameworks, communication styles, and negotiation dynamics vary from region to region.

At the same time, the core principles of successful dispute resolution remain consistent: neutrality, preparation, active listening, and a commitment to practical solutions.

As virtual mediation continues to expand, many legal professionals view online dispute resolution not as a temporary adaptation, but as a permanent and increasingly important part of modern legal practice.

The college said it currently subsidised more than 50% of each seat and, with further reductions for siblings, it equated to more than £150,000. It said this was not financially sustainable and would divert funds away from teaching, learning and student support. It added it would work with parents to provide support to those affected.

TUCSON, Ariz. — Pima County Sheriff Chris Nanos expressed growing confidence Monday that forensic laboratories, including the FBI’s premier facility in Quantico, Virginia, are closing in on identifying unknown DNA recovered from blood spatter at the home of Nancy Guthrie, the 84-year-old mother of NBC “Today” co-anchor Savannah Guthrie who vanished more than 100 days ago.

In his most detailed public update yet on the high-profile case, Nanos pushed back firmly against suggestions that the investigation has stalled or become a cold case, insisting that cutting-edge genetic analysis is progressing and could yield a major breakthrough soon.

“We have DNA that is unknown — who the contributor or depositor is — but I think they’re getting closer to finding out who that was,” Nanos told reporters. “When the labs tell us, ‘Hey, there’s nothing else we can do,’ well, then maybe we’ve got a problem… we’ve got a cold case. But right now, the labs aren’t telling us that.”

Nancy Guthrie was last seen on Feb. 1, 2026, after being dropped off at her residence in the Catalina Foothills area near Tucson following a family dinner. Family members reported her missing the next day. Investigators discovered blood drops on the front porch and along the pathway leading toward the street, along with signs of forced entry and a tampered doorbell camera that captured footage of a masked individual.

Multiple laboratories across the country, including the FBI’s high-tech forensic center, are now processing the biological evidence to determine whether the DNA belongs to Nancy Guthrie, a potential perpetrator, or both. The sheriff emphasized that the extended timeline for results reflects the meticulous standards required for evidence that could support criminal charges.

“It just takes a while,” Nanos said. “Nobody wants to make a false arrest. Nobody wants to falsely accuse somebody. At some point in time, someday we may have somebody in a courtroom that deserves his or her right to have a fair and impartial trial. The way you get that is through a fair and impartial investigation.”

The cautious approach has drawn both praise for thoroughness and frustration from a community eager for answers. Nanos acknowledged the public anxiety, noting, “There’s frustration because people want to know.” Yet he stressed that rushing the scientific process could jeopardize any future prosecution.

No suspects have been publicly named, though authorities previously circulated the masked individual’s description from doorbell camera footage. The sheriff has repeatedly refuted rumors of named persons of interest, including earlier unverified online speculation involving family members.

The case has captivated national attention largely because of Savannah Guthrie’s prominent role on “Today.” The television personality has made occasional emotional public appeals for information while largely stepping back from daily coverage to focus on her family. A $1 million reward offered by the family remains active for any tip leading to Nancy Guthrie’s safe return.

Forensic experts say DNA analysis from blood spatter can be complex, especially when samples are small, degraded, or mixed. Advanced techniques such as genetic genealogy and next-generation sequencing are reportedly being employed, which can take weeks or months to produce usable profiles suitable for comparison against national databases.

Sheriff Nanos highlighted the collaboration with top national forensic minds. “When you have the best minds of the country working on problems, I think they’re gonna solve them,” he said. The involvement of the FBI has added significant resources and expertise to the local investigation.

The disappearance has been treated as a suspected abduction from the outset. Extensive searches of desert areas surrounding Tucson, along with analysis of surveillance footage and tips from the public, have so far yielded no confirmed proof of life or definitive leads on Nancy Guthrie’s whereabouts.

Community response has included increased neighborhood patrols and volunteer efforts, but officials continue to urge residents to report credible information directly to authorities rather than engage in social media speculation that could interfere with the case.

Nancy Guthrie, described by family as active and independent despite her age, left behind medication and personal items, raising immediate concerns. Her vanishing has left a void in the close-knit Catalina Foothills community, where neighbors have organized vigils and continue to share memories of the longtime resident.

As the investigation enters its fourth month, the focus remains on the forensic pipeline. Sheriff Nanos and his team are balancing patience with persistence, aware that high-profile missing persons cases can sometimes resolve suddenly once DNA or other evidence aligns.

The Pima County Sheriff’s Department continues to treat the matter as an active, high-priority investigation. Anyone with information is encouraged to contact authorities or use anonymous tip lines. The sheriff’s latest comments signal measured optimism that scientific advances may soon provide the clarity the family and community desperately seek.

For Savannah Guthrie and her family, each passing day without answers brings renewed heartache. Yet the sheriff’s assurance that laboratories are making progress offers a thread of hope in what has become one of Arizona’s most widely followed missing persons cases in recent years.

The coming weeks could prove pivotal as final DNA reports are expected. Until then, investigators continue sifting through leads while the public is reminded that even small details could help bring resolution to Nancy Guthrie’s disappearance.