Business
Rub-off effect? Godfrey Phillips shares jump 6% after rival cigarette maker ITC’s Q1 earnings
Godfrey Phillips rose over 6% to Rs 2,269.90 on the NSE, putting the stock on track for its biggest single-day gain since April 29. ITC shares also climbed more than 4% to Rs 293.
ITC on Friday reported a 27% year-on-year (YoY) fall in standalone net profit at Rs 3,579 crore for the April-June quarter of FY27, as compared to Rs 4,911 crore in the year-ago period. Its revenue from operations, however, rose 28% YoY to Rs 26,943 crore during the quarter under review, from Rs 21,070 crore in the year-ago period.
ITC’s cigarette business saw a revenue surge of 81% YoY to Rs 15,384 crore. Nomura upgraded its rating on the shares of ITC to ‘Buy’ from ‘Reduce’ and raised its target price to Rs 340 from Rs 300, implying a 21% upside. The brokerage said the worst appears to be over and believes the stock now offers an attractive risk-reward profile.
Also read | ITC Q1 Results: Standalone profit falls 27% YoY to Rs 3,579 crore, but revenue grows 28%
Nomura noted that cigarette volume declined 5% year on year in the first quarter, better than its own and Street expectations of a decline of over 10%, although EBIT fell more than expected.
It expects the steps taken by the company to improve profitability to help restore EBIT per stick to pre-tax hike levels by the fourth quarter of FY27. The brokerage also believes further price hikes in Premium Deluxe and Regular cigarette segments should support pricing growth from the second quarter, while an improving product mix could offset the impact of downtrading. JM Financial also noted that the cigarette segment of ITC delivered a resilient performance amid regulatory challenges.
Motilal Oswal, however, struck a cautious tone, saying that in the cigarette business, the pass-through of the tax hike to consumers is still in progress. The sharp tax increase and competition from illicit cigarettes would take time to normalise, it said, adding that a calibrated price hike will continue to impact cigarette EBIT performance in the coming quarters.
Godfrey Phillips share price
Godfrey Phillips shares have gained over 1% in the past week and 3% in the last month, but remain down more than 2% in 2026 so far. The stock, along with other cigarette makers, came under pressure earlier this year after the government raised taxes on cigarettes and tobacco products.
Also read | Indian cigarette makers ITC, Godfrey Phillips, VST Industries see revenue and profit decline after tax hike
In February, the government increased the GST on cigarettes and tobacco products to a flat 40% and replaced the compensation cess with an additional excise duty ranging from Rs 2,100 to Rs 8,500 per 1,000 sticks, depending on cigarette length.
Over the longer term, the stock has declined 23% in the past year but delivered returns of 231% over three years and 550% over five years.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Business
Oil Companies Have Raked in Massive Profits During the Iran War but Their Future Will Be Expensive
Oil Companies Have Raked in Massive Profits During the Iran War but Their Future Will Be Expensive
Business
The Surprising Truth About Air Conditioning Troubleshooting Most Homeowners Miss
Your air conditioning troubleshooting approach might be costing you more than it should. If your AC starts turning on and off repeatedly, most homeowners immediately assume it’s a simple fix.
But short cycling often signals deeper issues that basic troubleshooting won’t address. The real problem isn’t just getting cool air back. It’s understanding what your system is trying to communicate before small issues turn into major repairs.
Air conditioning unit troubleshooting requires looking beyond the obvious culprits. Checking your thermostat and air filter seems logical, but these quick fixes only scratch the surface of potential problems. In some cases, arranging aircon repairs in Brisbane early can prevent further damage and more expensive issues down the track. This piece reveals the common troubleshooting mistakes homeowners make, when DIY efforts can become risky, and how to recognise when professional help is needed.
The Hidden Mistakes Homeowners Make Before Calling for Help
Most homeowners sabotage their air conditioning unit troubleshooting efforts without realizing it. These common errors create conditions that strain your system and lead to premature failures.
Ignoring the Thermostat Fan Setting
Your thermostat offers two fan modes that affect performance drastically. The AUTO setting runs the fan only when cooling, while ON keeps it blowing constantly. Running your fan continuously raises relative humidity levels by six to 10 percent in humid climates. Moisture from cooling coils gets blown back into your home instead of draining outside during summer, and this forces your system to work harder removing that extra humidity. The constant operation also increases energy costs and requires more frequent filter replacements.
Closing Vents to Save Money
Shutting vents in unused rooms seems logical but damages your system. Your ductwork was sized for balanced airflow throughout your entire home. Closed vents increase static pressure in ducts, which can cause blower motor failure and compressor damage. The typical home loses 20% to 30% of air through ductwork leaks. Pressure from closed vents turns small leaks into larger ones, pushing conditioned air into attics and crawlspaces. Cold rooms also act as heat sinks and pull warmth from heated areas, causing your system to cycle more frequently.
Running the AC Without Breaks
A system that runs nonstop signals problems rather than normal operation. Check your thermostat settings first and ensure the fan isn’t stuck on ON instead of AUTO. Dirty filters restrict airflow and force every component to work harder, increasing runtime and overheating risk. A unit that functions properly should cycle on and off based on your set temperature, not run continuously whatever the conditions.
Skipping the Air Filter Check
Filters that get neglected block airflow as dirt accumulates, causing reduced efficiency and mechanical stress. Indoor air contains two to five times more pollutants than outdoor air. Filters that get clogged force your system into overdrive and lead to overheating blower motors, frozen evaporator coils, and short cycling. Filters rated above MERV 11 can restrict airflow in systems not designed for them and potentially burn out motors.
What Your Air Conditioning Unit Is Really Trying to Tell You
Air conditioning systems communicate problems through specific patterns that homeowners often misinterpret. You can save yourself from unnecessary repairs and pinpoint the actual malfunction when you recognize these signals.
Short Cycling Means More Than a Dirty Filter
Your system turns on and off every few minutes, and this shows multiple failures beyond filter issues. A healthy air conditioner runs for 10 to 20 minutes per cooling cycle. Low refrigerant prevents effective heat absorption and causes the compressor to malfunction, which triggers rapid cycling. Oversized systems cool spaces too quickly without removing humidity. Premature shutdowns result. Frozen evaporator coils from restricted airflow or refrigerant leaks create a freeze-thaw pattern that repeats continuously. Electrical component failures disrupt normal operation. Worn contactors and failing capacitors cause intermittent cycling.
Water Leaks Point to Bigger Drainage Problems
Pooling water near your indoor unit shows condensate drainage failures rather than simple overflow. Clogged drain lines from algae, mold and debris prevent proper water evacuation and trigger safety float switches that shut down your system. Cracked or disconnected PVC pipes allow water to escape before it reaches the drain. Gravity-assisted drainage fails when improper installation lacks adequate slope. Rust on drain pans develops from prolonged water exposure and shows chronic drainage issues that need immediate attention.
Warm Air Isn’t Always a Refrigerant Issue
Multiple factors cause temperature problems that refrigerant checks won’t solve. Thermostat misconfiguration produces warm airflow, specifically when heat mode runs instead of cool mode. Dirty filters restrict airflow and force systems to overheat and eventually freeze. Compressor failures prevent refrigerant circulation despite adequate charge levels. Frozen evaporator coils from various causes stop heat absorption completely. Low refrigerant, blocked ducts and thermostat settings set too low all contribute.
Strange Noises Reveal Specific Component Failures
Each sound your system produces identifies particular mechanical problems. Thermostat malfunctions or loose fan blades cause clicking during operation. Hissing points to refrigerant leaks or damaged ductwork. Clanking means loose or detached blower fans and internal parts. Refrigerant leaks or water inside the system create bubbling sounds. Loose compressor components or broken fans cause banging from outdoor units. Fan motor or compressor bearing failures produce screeching. Motor bearing wear reveals itself through grinding and needs immediate replacement.
The Overlooked Components That Affect Your Entire System
Several physical components fail during air conditioning troubleshooting simply because homeowners don’t know where to look or what proper maintenance entails.
Your Outdoor Unit Needs More Than Just a Quick Spray
Dirty condenser coils decrease cooling performance and force your system to work harder. Your cooling efficiency can drop by a lot when these coils accumulate dirt, dust and debris. Condenser coils last 10 to 15 years or longer if you manage to keep them in good shape. Professional cleaning involves turning off the unit and using compressed air for loose debris. Technicians apply mild detergent or chemical cleaners and straighten bent fins with specialized tools. Homeowners can keep landscaping plants trimmed at least two feet away from the unit on all sides. Use a garden hose on gentle settings, never jet or power washer settings that bend delicate fins.
Ductwork Issues You Can’t See But Can Feel
The average home loses 20% to 30% of conditioned air through duct leaks, holes and poor connections. Your HVAC system runs longer cycles as a result and increases wear and energy costs. Certain rooms that stay too hot or too cold indicate air escaping before reaching its destination. Leaky ducts also pull in dust, pollen and allergens from attics and crawlspaces. These contaminants circulate throughout your home.
The Circuit Breaker Connection Most People Miss
Circuit breakers trip when your AC pulls more amps than the breaker rating allows. This protects you from equipment damage and fires. Loose wiring in the circuit breaker or breaker failure causes constant tripping every time power flows through the circuit. Never keep resetting a tripping breaker. Constant tripping harms equipment and creates fire risks.
Thermostat Placement Affects Cooling Efficiency
Thermostat location affects accuracy and overall HVAC performance by a lot. Thermostats near windows, doors, heat sources or in direct sunlight cause misleading temperature readings that trigger premature system cycling. Install thermostats on interior walls at 52 to 60 inches above the floor in central locations away from drafts and heat-generating appliances.
When DIY Troubleshooting Becomes a Safety Risk
Certain air conditioning troubleshooting tasks cross from inconvenient to genuinely hazardous. These boundaries protect both your safety and your wallet when you recognize them.
Refrigerant Leaks Require Professional Equipment
Refrigerant handling falls under EPA Section 608 federal regulation. Certified technicians are the only ones who can purchase or handle refrigerants legally, which makes DIY recharging both illegal and dangerous. Refrigerant risks include toxicity, flammability, asphyxiation and physical hazards. You treat symptoms rather than the actual problem when you try to recharge your system yourself. The actual problem is almost always a leak that requires professional detection and repair. Proper leak detection requires systematic approaches and specialized equipment that homeowners don’t possess.
Electrical Problems Can Cause House Fires
Thousands of residential fires each year trace back to air conditioner malfunctions. Residential AC fires result from mechanical failure or malfunction 86% of the time. Short circuits cause 51% of these fires. Other electrical failures account for 22%. Capacitors hold lethal charges even when your system is powered off. Components that are wired incorrectly cause fires, void manufacturer warranties and create dangerous code violations.
Compressor Damage Costs More Than the Repair
AC compressor issues rank among the most expensive HVAC problems because the part is central to the system’s operation and requires specialized repair work. A failing compressor damages condenser coils, electrical systems and expansion valves.
Why Running a Faulty System Makes Things Worse
Your system with low refrigerant leads to more damage when you run it, especially to the compressor. This creates potential risks to health and safety. Airflow problems increase compressor stress when you ignore them.
Taking Control of Your Air Conditioning Performance
Professional maintenance turns air conditioning troubleshooting from reactive crisis management into predictable system control. Schedule your cooling system inspection in spring before contractors face summer surges. This timing will give your unit peak performance right when you just need it most.
Annual professional check-ups prevent most problems homeowners encounter during air conditioning unit troubleshooting. A qualified technician tightens electrical connections and lubricates moving parts that reduce friction and electricity consumption. They inspect condensate drains to prevent water damage and clean evaporator and condenser coils that lose efficiency when dirty. They also check refrigerant levels, since incorrect amounts decrease efficiency and shorten equipment life. Blower components get adjusted too, as compromised airflow can reduce system efficiency by up to 15 percent.
A system with proper maintenance serves you for 15 to 20 years, while neglected units struggle to reach half that lifespan. Space heating and cooling account for about half of all energy consumption in most homes. Regular maintenance reduces energy bills and prevents emergency repairs that get pricey. Your system operates without the constant troubleshooting headaches that plague neglected equipment as long as you commit to annual professional service.
Business
Beam Therapeutics: A Valuation With Upside Left (NASDAQ:BEAM)
Max is an independent equity research analyst with a primary focus on biotechnology, healthcare, and technology companies. His investment approach is fundamentally driven, combining detailed financial modeling, valuation analysis, and in-depth research into clinical trial data, regulatory pathways, competitive dynamics, commercialization potential, and long-term business fundamentals. He is currently pursuing his academic studies while continuing to expand his expertise in equity research and financial analysis. He has gained additional experience through work exposure at the Deutsche Bundesbank and EY, where he developed a deeper understanding of financial systems and professional analysis standards. Through Seeking Alpha, Max aims to publish independent, research-driven analysis of biotechnology and healthcare companies, translating clinical and financial data into actionable investment insights.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in BEAM over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Business
airlines told to monitor supply
Gatwick Airport has warned airlines that it has a shortage of jet fuel for the next two days after a technical fault affecting supply to the airport, and has told carriers to monitor fuel availability.
In a memo circulated to crews, the airport said: “For attention of all crews: Gatwick has a shortage of fuel for the next two days. Please uplift max possible fuel at outstations.”
A separate memo warned of a “potential disruption to the Gatwick fuel supply”.
A spokesperson for Gatwick said: “Following a technical issue impacting fuel supply to the airport, airlines have been advised to monitor fuel availability. We are working closely with external suppliers to resolve the issue as quickly as possible and minimise any potential disruption. All airlines are operating as normal.”
It is understood airport engineers are working to fix a technical problem at one of Gatwick’s fuel farms.
All carriers operating from the airport are set to be affected, with long-haul flights most exposed as airlines divert fuel to UK airports from abroad. Gatwick’s largest operators include easyJet, British Airways, Wizz Air, TUI and Jet2.
The instruction to uplift fuel at outstations requires aircraft to load extra fuel at their departure airport rather than refuelling on arrival in the UK. That practice is constrained by aircraft weight limits and adds to fuel burn.
An airline source told The Sun: “Pilots will try and take on as much fuel as they can from their foreign destinations to bring back to the UK but they will be limited by factors such as the maximum take off weight and the maximum landing weight back at Gatwick.”
The same source said the warning came as several long-haul flights bound for Britain were already in the air, meaning crews could not carry extra fuel to resupply other services. They said there was a “good chance of disruption” to passengers, particularly from Monday.
The shortage is not linked to jet fuel supply constraints caused by the blockade in the Strait of Hormuz. Iran moved to close the strait in April, through which about a fifth of the world’s oil and gas normally passes.
Gatwick is the UK’s second-largest airport by passenger numbers, according to Civil Aviation Authority data. The warning was issued during the school summer holidays.
The airport has faced a run of operational problems. It was named the UK’s least punctual major airport for the second year running in CAA figures for 2024, with departures leaving an average of 23 minutes late.
Last week, passengers were left without water and power for a period following a failure at a treatment works serving the airport. Travellers were unable to flush toilets, wash their hands or refill water bottles, and reported restaurants, bars and coffee kiosks closing as taps ran dry. Only pre-made food such as sandwiches remained on sale after cooking stopped.
Summer schedules at UK airports have been disrupted by supply and staffing problems outside airlines’ control in previous years. In July 2025, Ryanair and easyJet cancelled nearly 450 flights between them ahead of a French air traffic control strike.
Gatwick has not said how long it expects the fault to take to resolve.
Business
Why did RBC downgrade JD Sports Fashion despite its 15% rally this year?

Why did RBC downgrade JD Sports Fashion despite its 15% rally this year?
Business
Linneys balances legacy, longevity
Justin and Troy Linney are investing in the historic jewellery house after buying the business late last year.
Business
Turnstone appoints Pearce as chair
European-focused junior Turnstone Resources has appointed Richard Pearce as its non-executive chair, effective immediately.
Business
Greaves Electric Mobility’s Rs 530 crore rights issue offer gets fully subscribed
“This capital will help us accelerate innovation and further strengthen our product pipeline,” said MD Vikas Singh.
The capital infusion is aimed at strengthening GEML’s next phase of growth towards building Next Generation products, Battery Management Systems, Power Trains and New Age Technology development. “As India’s electric mobility market moves towards mass adoption, we remain focused on supporting the country’s clean mobility goals through differentiated products Built for Bharat, stronger technology capabilities and reliable mobility solutions for our customers.” He added.
GEML has decided to defer its proposed public listing, opting not to avail itself of Sebi’s extension for the offer. The company said it remains committed to pursuing the listing at an appropriate time, subject to market conditions, regulatory approvals and other relevant considerations.
The company also has a longstanding association with the Indian armed forces, with its products supporting a range of defence and naval applications.
Through this latest investment, the company aims to accelerate performance of its electric two-wheeler and three-wheeler segments with a growing portfolio of products, an expanding retail and service network, and continued investments in engineering, manufacturing and customer experience.
Business
Griffin Group flags $16.6m South Perth apartment plan
Local developer Griffin Group has lodged a plan with the City of South Perth detailing a $16.6 million apartment project fronting the suburb’s bustling Angelo Street.
Business
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