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Kitron Q2 2026 slides: defence revenue triples, shares fall 7.8%

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Kitron Q2 2026 slides: defence revenue triples, shares fall 7.8%
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Protector Q2 2026 slides: 81.5% combined ratio, muted growth

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Protector Q2 2026 slides: 81.5% combined ratio, muted growth


Protector Q2 2026 slides: 81.5% combined ratio, muted growth

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What Andy Burnham’s devolution agenda means for Wales

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

Andy Burnham.(Image: Peter Byrne/PA Wire)

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.

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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.

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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.

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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.

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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.

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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.

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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.

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VICI Properties: Rich And Secure Incomes To Weather Macro And Caesars/MGM Uncertainty

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OppFi: Cheap For The Risk Tolerant, Maintain Hold

VICI Properties: Rich And Secure Incomes To Weather Macro And Caesars/MGM Uncertainty

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EasyJet’s flight path from start-up to possible takeover battle

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EasyJet’s flight path from start-up to possible takeover battle

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Vedanta Power, Vedanta Oil & Gas, other Vedanta stocks surge up to 6%. What lies ahead?

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Vedanta Power, Vedanta Oil & Gas, other Vedanta stocks surge up to 6%. What lies ahead?
Shares of all four recently-demerged Vedanta Group stocks recorded sharp gains on Friday, with Vedanta Iron and Steel shares jumping 5% to hit the upper circuit, and Vedanta Oil and Gas shares surging more than 6%.

Vedanta Iron and Steel shares snapped a five-session losing streak, which began after the stock surged 113% in just 13 days since listing on June 15. Vedanta Power and Vedanta Oil and Gas shares are meanwhile extending gains.

The four Vedanta Group stocks debuted on stock exchanges on June 15, concluding the mega demerger that marked one of the biggest corporate restructurings in India’s metals and mining space.

Vedanta Iron and Steel share price

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Vedanta Iron and Steel shares listed at Rs 20 apiece on June 15. The stock then rapidly jumped 113% in just 13 sessions, before the rally lost steam. The stock tumbled around 23% during the five-session losing streak.


The stock, however, rebounded 5% today to remain locked in the upper circuit at Rs 34.68 apiece on NSE. The company currently has a market capitalisation of more than Rs 13,561 crore.
Earlier this week, Vedanta Iron & Steel reported a 4% YoY rise in saleable iron ore production to 2.6 million DMT in the first quarter of FY27. Sequentially, however, production fell 3% from 2.7 million DMT reported in the fourth quarter of FY26. Vedanta Iron & Steel’s Karnataka plant saw a 46% YoY drop in saleable iron ore production, while the Goa and Odisha plants recorded 166% and 59% surges in output, respectively. Overall steel production, meanwhile, rose 4% YoY to 582,000 tonnes during the quarter under review.Also Read | JioBlackRock Flexi Cap Fund exits Vedanta group companies after demerger, sells 8 more stocks

Vedanta Oil & Gas share price

Vedanta Oil and Gas debuted at Rs 38 apiece on June 15. The stock then jumped more than 25% to hit a record high at Rs 47.60 apiece earlier this month. However, it then sharply declined.

Vedanta Oil & Gas shares rebounded this week, rising 12% over three sessions to hit an intraday high of Rs 40.24 apiece on NSE on Friday morning. The company currently has a market capitalisation of nearly Rs 15,420 crore.

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The company last week reported a 17% year-on-year decline in gross oil and gas production to 7.1 million boe for the April-June quarter of FY27, from 8.5 million boe in the corresponding quarter of the previous financial year. Sequentially, gross output also declined about 4% from 7.3 million boe reported in the fourth quarter of the previous financial year.

Vedanta Power share price

Vedanta Power shares jumped more than 3% to trade at Rs 42.58 apiece on NSE on Friday morning. The shares of the company listed at Rs 41.80 apiece on NSE on June 15. The stock has so far only gained nearly 2% since then.

The company last week said power sales grew 38% YoY to 5,225 million units in Q1 FY27 from 3,784 million units in Q1 FY26. Sequentially, however, sales fell 6% from 5,530 million units reported in the fourth quarter of FY26.

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Vedanta Aluminium share price

Vedanta Aluminium shares listed as the only largecap stock on the list, debuting at Rs 522 apiece on NSE and surpassing its parent company in terms of market capitalisation in June. The shares of the company jumped around 4% today to trade at Rs 459.4 apiece. However, shares of the company have dropped 12% since listing.

The company last week reported its highest-ever quarterly aluminium production of 6.32 lakh tonnes in Q1 FY27, marking a 5% YoY and 3% quarter-on-quarter increase. Power sales at BALCO rose 21% YoY to 520 million units during the quarter under review.

Motilal Oswal sees 22% upside in this Vedanta stock

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Motilal Oswal Financial Services initiated coverage on the shares of Vedanta Aluminum with a ‘Buy’ rating and a target price of Rs 540 per share, implying an upside potential of around 22% from the stock’s previous closing price, as the domestic brokerage forecast strong earnings growth and cash flow generation over the medium term.

The domestic brokerage in its note called the company India’s largest pure-play primary aluminum company and the third-largest aluminum producer globally, excluding China. It said the company has emerged as one of the most compelling structural stories in the global aluminum space, combining industry-leading scale, extensive backward integration, and a multi-year earnings growth trajectory.

Also Read | Vedanta Aluminum shares to see 22% rally? Motilal Oswal initiates coverage with Buy, lists key tailwinds

(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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United Airlines must face lawsuit over ‘windowless’ window seats

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United Airlines must face lawsuit over 'windowless' window seats

United Airlines must face a lawsuit filed by passengers who say they paid extra for window seats that had no actual windows.

On Monday, U.S. District Judge James Donato in San Francisco rejected the airline’s attempt to have the lawsuit dismissed.

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UNITED FLIGHT RETURNS MIDAIR AFTER BLUETOOTH DEVICE NAME REPORTEDLY SPARKS SECURITY SCARE

United Airlines Airbus plane in Chicago

A United Airlines jet at Chicago O’Hare International Airport. The airline must face a lawsuit filed by passengers who said they paid for window seats, only to discover they were seated near a wall instead.  (Daniel Slim/AFP via Getty Images)

The airline offered a defense that “window” referred to the location of a seat relative to the cabin wall and aisle, and that the carrier never contractually promised that seats in the window position would have views outside, Reuters reported. 

Donato rejected United’s argument that federal law blocked the passengers’ claims, saying the airline’s own ticketing terms, boarding passes and reservation screens promised window seats to customers who paid for them.

“No more is needed at this stage for the breach claims to go forward,” the judge said.

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UNITED AIRLINES DROPS MERGER PURSUIT WITH AMERICAN, CEO KIRBY DETAILS WHY

SAN DIEGO, CALIFORNIA - AUGUST 24: A Delta Airlines Boeing 757 taxis at San Diego International Airport on August 24, 2024 in San Diego, California. (Photo by Kevin Carter/Getty Images)

A Delta Airlines Boeing 757 taxis at San Diego International Airport on Aug. 24, 2024, in California. (Kevin Carter/Getty Images)

United and Delta Air Lines both face class-action lawsuits after passengers said they found themselves seated next to walls on Boeing 737, Boeing 757 and Airbus A321 planes.

In a statement to FOX Business, United declined to comment on the lawsuit itself but noted that in 2025 it “added more detail to our seat selection process, so customers can have more information about what to expect when they choose a seat.” 

Delta, which is seeking to dismiss its lawsuit in the Brooklyn, New York, federal court, said it does not comment on pending litigation.

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A windowless window seat aboard a United Airlines plane.

United Airlines is accused of selling window seats with no actual windows, according to a lawsuit. (Greenbaum Olbrantz law firm )

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Passengers typically buy window seats to address a fear of flying and motion sickness, keep children occupied, get more light or take in the view, according to the lawsuit. Both lawsuits seek millions of dollars in damages for more than 1 million passengers per carrier.

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PD Ports CEO Frans Calje steps down as new leader is appointed

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PD Ports has announced that Paul Foreman will take over from chief executive Frans Calje

Frans Calje and Paul Foreman at PD Ports

Frans Calje and Paul Foreman at PD Ports(Image: PD Ports)

A new leader has been appointed to head the region’s largest port and logistics operator as the current chief executive announced “the time is right” for him to stand aside. PD Ports – which runs Teesport, the North-east’s biggest port – has confirmed that Paul Foreman will succeed current chief executive Frans Calje on September 1.

Mr Calje is stepping down from the role after a decade at the top and more than 18 successful years with the company in total. Paul Foreman, the current chief operating officer, assumes the chief executive position following a recruitment process, after Mr Calje revealed it had always been his intention to hand over the reins after ten years in charge.

The leadership transition arrives at a crucial juncture for the business, which has bold ambitions to accelerate growth and respond to evolving industry and technological demands, through ongoing investment and expansion. PD Ports injects £1.4bn annually into the Teesside economy, sustaining 22,000 jobs throughout the broader supply chain while directly employing over 1,400 people across 11 UK locations.

Discussing his departure, Mr Calje said: “I always said, right from the moment I originally became CEO, that a ten-year timeframe would be in the best interests of the business, before a fresh perspective and new direction would be required to take us on to our next chapter of success.”, reports Teesside Live.

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“The time is therefore right for a change of leadership to drive growth and the continued evolution of PD Ports. I am so proud to be leaving a business that is now safer, stronger and looking ahead to a sustainable and financially stable future, thanks to the work we’ve done together in this last ten years”.

Mr Foreman said: “I’m delighted and honoured to take over from Frans who has achieved so much in his time here, including the transformation of our container and bulks business, improving safety standards and significantly strengthening our balance sheet.

“I am also extremely grateful for his support as I take on this role. I am excited to lead this business which as operator of the largest port in the North East, is so key to the prosperity of Teesside, driving economic growth and providing employment and opportunities for so many hard-working people.”

Mr Foreman originally joined the company in 2020 as chief technology officer, before being promoted to chief operating officer three years later. His tenure has centred on spearheading transformational change through innovation.

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Prior to PD Ports, he spent the bulk of his career at Formica Group, which he joined in 2001, spending a decade in a variety of financial positions across the UK, Europe, Asia, North America and China. He also serves as a Trustee for the Percy Hedley Foundation, a £40m turnover North East charity dedicated to providing education and support for children and adults with special needs.

Mr Calje began his professional career at the Port of Rotterdam. Since taking the helm as CEO, he has played a pivotal role in the strategic overhaul of Teesport’s container operations, while guiding the company to become one of the largest and most forward-thinking port groups in the UK.

More recently, he steered the business through the successful acquisition of a 49% stake by Pontegadea and has championed the drive to establish the Teesport Offshore Gateway — an ambitious proposed deep-water offshore wind manufacturing and assembly facility on the River Tees. His contribution to international trade and the broader UK economy has further been recognised with the award of an OBE.

Brookfield operating partner Becky Lumlock said: “On behalf of Brookfield and Pontegadea, I’d like to thank Frans for his impactful and integrity-driven leadership of PD Ports, which has delivered significant growth over the last ten years. We are delighted to appoint Paul into the CEO role – his innovative and strategic mindset has been central to the long-term planning for the business for some time and we are confident he will steer the business to new levels of success.”

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Rates Spark: Sentiment Looking Through Geopolitical Risks

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Rates Spark: Sentiment Looking Through Geopolitical Risks

Rates Spark: Sentiment Looking Through Geopolitical Risks

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Warriors’ Anthony Davis Chase, Jaylen Brown and Kawhi Leonard Buzz

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Anthony Davis #3 of the Los Angeles Lakers

The NBA’s trade rumor mill remains active heading into Summer League, with LeBron James’ free agency decision continuing to shape roster strategy across the league even as several other stars find themselves at the center of ongoing speculation. Here is a roundup of 10 of the latest trade rumors circulating as teams work to finalize their rosters ahead of training camp.

1. Warriors weighing an Anthony Davis trade to help land LeBron James

Golden State’s pursuit of James remains tangled up with the team’s interest in acquiring Anthony Davis from the Washington Wizards, a scenario multiple reports have described as central to whether the Warriors can present a credible offer to James. Warriors general manager Mike Dunleavy Jr. has continued exploring paths to acquire Davis, though Washington has publicly maintained it has no interest in trading him.

2. Jimmy Butler’s status tied directly to any Davis deal

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Should Golden State manage to acquire Davis, it would likely require moving Jimmy Butler, who has one year and $57 million remaining on his contract. The Warriors have told Butler he won’t be dealt, though some analysts note that stance could be tested if a Davis blockbuster materializes. Butler is separately expected to be out until around Christmas as he recovers from January ACL surgery, limiting his appeal to other potential trade partners in the near term.

3. Trey Murphy remains a target, but a deal looks increasingly unlikely

The New Orleans Pelicans’ Trey Murphy has continued to draw trade interest across the league, but reporting suggests he is increasingly likely to stay put. One team executive said it would take a Desmond Bane-style package, roughly four first-round picks, to pry him away from New Orleans, though that asking price has reportedly softened somewhat without any concrete movement toward a deal.

4. Evan Mobley’s future in Cleveland could hinge on LeBron’s decision

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Cavaliers big man Evan Mobley, who has four years and $223 million remaining on his contract, has emerged as a name to watch given Cleveland’s win-now roster construction. Analysts note that if James ultimately signs with Cleveland, Mobley’s touches and shot attempts could shrink significantly, raising questions about whether the team might explore moving him for a substantial return.

5. Myles Turner remains available, if not actively shopped

Milwaukee has little long-term incentive to keep center Myles Turner, who has three years and $80 million left on his deal, though reports indicate the Bucks are not actively shopping him. Because Milwaukee does not control its own draft picks for the next four years, the team has limited ability to rebuild through the draft, giving Turner’s situation continued relevance as young bigs Bobby Portis’ successor and Kel’el Ware see expanded roles.

6. Michael Porter Jr. speculation building in Brooklyn

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Trade buzz has started to build around Nets forward Michael Porter Jr., who is in the final guaranteed year of his contract at $40 million. Brooklyn has reportedly not received the kind of draft-asset offers it had hoped for, and with new league rules pushing the team to remain more competitive next season, Porter could ultimately stay put through the year and become a more likely trade candidate closer to February’s deadline.

7. Jaylen Brown still drawing interest despite recent Celtics trade

Even after being traded from Boston to Philadelphia earlier this offseason in exchange for Paul George, Jaylen Brown has continued to generate trade speculation, with one report connecting him to a potential deal involving the Denver Nuggets built around Brown and Sam Hauser going to Denver in exchange for Jamal Murray and Cam Johnson. No formal agreement has been reported, but Brown remains one of the most frequently discussed names of the offseason.

8. Kawhi Leonard may be available on the trade market

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Reports indicate Kawhi Leonard could become available in a trade this offseason, continuing speculation about a potential departure from the Los Angeles Clippers. While no specific framework has gained significant traction, Leonard’s situation remains one of the more closely watched storylines as teams assess the trade landscape heading into training camp.

9. Buddy Hield’s guaranteed salary seen as a potential trade precursor

The Atlanta Hawks’ decision to guarantee Buddy Hield’s 2026-27 salary has drawn attention from league insiders, with some suggesting the move could simply be a precursor to a future trade rather than a signal the team intends to keep him long-term. Hield’s career average of 2.9 three-pointers made per game ranks seventh all-time, and any team acquiring him would add one of the league’s more efficient floor-spacers to its rotation.

10. Charlotte continues reshaping its roster after Ball and Bridges moves

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Following its trades of LaMelo Ball to Minnesota and Miles Bridges to Phoenix, Charlotte has re-signed guard Coby White and appears positioned to build more deliberately around Kon Knueppel, Brandon Miller and incoming rookie Christian Anderson. According to reporting from HoopsHype’s Michael Scotto, the Hornets could still explore additional moves, potentially including interest in adding a player like Jaylen Brown depending on how the broader trade market develops.

Beyond these 10 storylines, several other situations remain in motion. Denver has faced its own share of speculation after three consecutive earlier-than-expected playoff exits since its 2023 title, with questions swirling about the futures of Jamal Murray and Aaron Gordon, along with restricted free agent Peyton Watson. Free agent forward John Collins, following a reduced role with the Clippers last season, has drawn interest from at least three playoff teams, including the San Antonio Spurs, Orlando Magic and Philadelphia 76ers.

Meanwhile, James’ free agency decision continues to loom over much of the league’s remaining trade activity. As of Thursday, James had not announced a decision, and reports suggest one may not come for another week or more, a timeline that would already exceed the pace of his previous, widely covered free agency decisions in both 2008 and 2014. With Summer League now underway and several marquee names still unresolved, front offices across the league are expected to remain active in the trade market in the days ahead as they work to finalize rosters before training camps open later this year.

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Cupid shares jump 6%, stock skyrockets 900% in one year. Should you buy now?

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Cupid shares jump 6%, stock skyrockets 900% in one year. Should you buy now?
Shares of Cupid jumped 6% on Friday, extending its sharp 13% rally over two days as the multibagger stock continued to mint massive returns for its more than 2 lakh shareholders.

Shares of the condom maker rose to Rs 222 apiece on Friday. The stock has gained around 110% so far in 2026 and has surged about 900% over the past year. Over the longer term, Cupid shares have delivered returns of more than 8,600% in three years and around 8,800% in five years.

The company manufactures and supplies male and female condoms, water-based lubricant jelly and IVD kits. It operates a manufacturing facility in Sinnar near Nashik, about 200 km from Mumbai. It says it is the first company in the world to receive prequalification from the World Health Organisation and United Nations Population Fund for the supply of both male and female condoms.

Cupid Q1 business update

Cupid, at the end of June, said it is on track to report revenue exceeding Rs 150 crore in the first quarter of FY27, which it described as one of the strongest quarterly performances in its history. Aided by the strong start to the financial year and improved visibility across international and domestic markets, the company has also raised its FY27 revenue guidance.

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The company now expects FY27 revenue to stand at more than Rs 660 crore, up from its earlier guidance of Rs 600 crore, implying an upward revision of at least 10%. Cupid said the revised outlook is backed by its diversified business model, an expanding global opportunity pipeline and increasing operating scale across multiple business verticals.

Cupid also continues to make steady progress in its In Vitro Diagnostics (IVD) business. While management’s near-term growth estimates for this segment remain conservative, it believes the business has the potential to become a meaningful contributor over the coming years, supported by regulatory approvals, new product launches, and continued commercialisation efforts, the company said.


Also read: 10 microcap stocks rally up to 430% in CY26; 5 turn multibaggers. Here’s FII and MF exposure

What Cupid’s management said

“Our strong start to FY27 reflects the transformation Cupid has undergone over the past few years. We have built a diversified business with multiple growth engines that are now beginning to scale together. We are seeing strong momentum across our international B2B business, supported by expanding opportunities in private markets, institutional procurement, and government tenders across the world. Our strategic relationship with PFSCM has commenced on a very encouraging note and further strengthens our long-term position in global healthcare procurement,” said Cupid Chairman and Managing Director Aditya Kumar Halwasiya.
He added that in the past twelve months, Cupid has significantly strengthened its male condom and female condom businesses through enhanced manufacturing capabilities, customer acquisition, and wider market reach. “At the same time, our lubricants portfolio continues to gain traction across both institutional and consumer segments. On the consumer side, we remain focused on building Cupid into a trusted mainstream personal care and wellness brand. We see significant long-term opportunities across modern trade, organised retail, and pharmacy channels as we continue to expand our presence across Bharat,” he further said.

What lies ahead for Cupid’s shares?

The stock remains in a robust Higher High–Higher Low (HH-HL) formation, indicating that the broader uptrend is intact, said Hitesh Tailor, Technical Research Analyst at Choice Broking. On the downside, he added that the Rs 177–185 zone is expected to act as an immediate support area, aligning closely with the 20-Day EMA and the recent breakout region. A stronger support is placed near Rs 155–160, coinciding with the 50-Day EMA. As long as the stock sustains above these crucial support levels, the overall trend is likely to remain positive, with the potential to retest Rs 225–230 in the near term. However, a decisive breach below the Rs 177–185 support zone could trigger further profit booking and lead to a short-term retracement towards the Rs 155–160 support region.

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Also read: How to trade Cupid shares after a massive 40% rally in a month? 2 technical experts weigh in

(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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