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SBI still offers value, CV cycle looking strong; IT volatility a concern: Neeraj Dewan

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SBI still offers value, CV cycle looking strong; IT volatility a concern: Neeraj Dewan
State Bank of India’s sharp rally following its latest earnings has reinforced investor confidence in PSU banks, with market participants debating whether there is still value left in the stock after its one-way move. According to Neeraj Dewan, market expert, SBI continues to offer valuation comfort and remains attractive for long-term investors despite the recent run-up.

Responding to ET Now on whether SBI still offers an opportunity at current levels, Dewan said he remains constructive on PSU banks, citing strong earnings momentum and reasonable valuations.

“Yes, I have been positive on PSU banks and the kind of stellar results SBI came out with, it makes sense to still stay invested in SBI. In fact, it is still a buy-on-dips kind of a stock and if someone has already invested, they should hold on to it because valuation-wise they could be still available at less than 1.5 times book and historically, it has gone even as high as 1.6, 1.7. With this kind of earnings and the growth that the balance sheet can give them going ahead, I think at this price State Bank or even other PSU banks still, there is a valuation comfort and they can still give you decent returns from these levels also for a long-term investor,” Dewan said.

On the commercial vehicle (CV) space, Dewan remained optimistic, pointing to improving capex trends and replacement demand. He noted that recent numbers from Ashok Leyland reflected operational improvements and better cost management.

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“Yes, I feel that the CV cycle is already doing well right now and they should continue doing well in this quarter also. Capex is picking up, which was delayed earlier, which we saw in the second and third quarter. But now from the third quarter onward you are seeing a meaningful pick-up there. Even some of these equipment manufacturers for CVs have been shoring up their capacities and I feel that CV for this quarter also can give you a good surprise, looking at the back of the capex and the capex pickup,” he said.


However, Dewan advised caution on the IT sector, suggesting that the space remains highly volatile and difficult to assess amid rapid changes linked to artificial intelligence and recent negative developments.
“Yes, actually definitely some bottom fishing did happen last quarter and even when the initial results were declared, Infosys kind of guidance and the results and people were getting a little positive, but then this bad news came from Anthropic. So, still for an investor, he can avoid it right now because there is too much volatility which is there in the sector, too much of changes which can happen going ahead. So, it is better to avoid right now because we are not sure in the next six to eight months what kind of changes or what kind of new flow from AI and related will impact the earnings,” Dewan said.He added that recent developments could have a structural impact on IT business models and earnings visibility.

“The kind of news which has come in the last couple of weeks has been pretty worrying also, so that can have an impact, but to what extent we still have to see. But definitely some impact will be there on IT companies and there will be a lot to think and change in business models, how IT companies behave and how they function also,” he noted.

On Lenskart, despite acknowledging strong post-IPO numbers and expansion potential, Dewan flagged valuation concerns and relatively weak returns on capital as key risks.

“So, first thing on the numbers, numbers were definitely good and after the IPO this kind of numbers are positive for the company. But second, everything comes at valuation. The stock is already at ₹81,000 crore market cap. Even if they do about — I think at the current run rate they are doing — at ₹134 crores profit, even if you do ₹600 crores, still it is a very-very expensive stock. ROC is very weak, it is I think 6–7% ROC business. So, there are definitely better opportunities in the market,” he said.

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Dewan also compared Lenskart with established listed players, highlighting the importance of balancing growth with valuation discipline.

“One has to play the growth, I agree to some extent, but then growth also has to come at a price. So, it is an expensive stock. So, I will not say it is a compelling buy. Maybe if you get some correction in the stock, then maybe one can look at buying it for a long term. But still it is very expensive and if you compare to already listed strong plays like Titan, which is maybe ₹3,77,000 crore market cap, but then the ROCE is 36–37, going towards 40%. So, there are much better opportunities in the market right now. So even if you want to buy growth, it has to come at a price,” he said.

Overall, Dewan’s comments reflect continued confidence in PSU banks and the CV cycle, while urging investors to remain cautious on IT amid structural uncertainty and selective on high-growth stocks where valuations may be running ahead of fundamentals.

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Opinion: One size doesn’t fit all

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Opinion: One size doesn’t fit all

OPINION: Employers are navigating a workplace where complexity has increased and employees expect their needs to be met.

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Opinion: Activists’ actions have broad effect

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Opinion: Activists’ actions have broad effect

OPINION: On a range of issues, small numbers of people have a big impact on the rest of us.

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Councillors warned they should not refuse plans for South Bristol’s tallest-ever building

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Officers say the council would lose any appeal and risk legal costs

The planned Princess Street tower seen from Victoria Park

The planned Princess Street tower as seen from Victoria Park(Image: Liz Lake Associates)

Councillors look set to be on a collision course with their own planning officers over a plan to construct what would be the tallest building ever built in South Bristol.

The plan is to build a 23-storey block of student flats as part of a bigger project that also includes 434 flats on what is now part of an industrial estate in Bedminster, but that was blocked by councillors back in January.

Members of the council’s planning committee voted not to give planning permission to the scheme put forward by developers Galliard Apsley, despite the council’s planning officers recommending it be given approval.

It wasn’t refused at the meeting in late January. The rules at City Hall mean councillors have to send the officers away to come up with reasons to refuse it at the next meeting.

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That meeting is taking place next week on March 11, and ahead of that, those officers tasked with coming up with reasons to refuse the scheme have returned with a fresh report.

The report proposes the wording of a statement refusing to give planning permission for the scheme, but officers have told councillors that the reasons they give won’t stand up on appeal.

That means even if the plans are refused next week, the developer could appeal to the Government’s Planning Inspectors and overturn that decision – and the council’s own planning officers don’t believe the council would win that legal battle, and councillors have been warned that the council may have to pay the costs of that appeal.

Back in January, councillors said they wanted to refuse the plan for two reasons. The first was that building so many flats on the site, with such tall buildings, would represent an ‘over-intensive development’.

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The second was that the proposal would ’cause harm to views of heritage assets’. The buildings would be built on what is now an industrial estate on Princess Street, next to the railway line in Bedminster, near Victoria Park.

The 25-page report, which doesn’t have an author’s name revealed, outlines council planning officers’ views that the developers would win on appeal, because the reasons to refuse the scheme are not strong enough.

“It is considered that this reason for refusal would not be defendable at appeal,” the officers’ report said.

The proposed Princess Street tower seen from the New Cut

The proposed Princess Street tower, as seen from the New Cut(Image: Liz Lake Associates)

“It would potentially put the council at risk of behaviour that would be considered unreasonable in the terms of the Planning Practice Guidance, which would expose the Local Planning Authority to a significant risk of a substantive award of costs against the council,” it added.

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The officers’ report tells councillors that they don’t believe the council could refuse the plan because the location at Princess Street is too far from bus stops, nor that the buildings will be too tall – pointing out that the council’s own masterplan for the regeneration of the area around Whitehouse Street says the area should be developed with a high density of buildings.

“Officers strongly advise against refusing on either over-intensive development or harm to the setting of heritage assets,” the officers’ report said. “In line with the presumption in favour of sustainable development, officers continue to recommend that permission is granted.”

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

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Is Dubai Airport Open Right Now? Latest Updates on DXB Operations March 2026

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Zayed International Airport

Dubai International Airport (DXB), the world’s busiest hub for international passengers, has partially resumed flight operations as of March 5, 2026, following days of near-total suspension triggered by escalating regional security tensions involving U.S., Israeli and Iranian military actions.

Dubai
Dubai

Airport authorities confirmed a limited resumption beginning March 2, with a small number of repatriation, cargo, repositioning and essential flights permitted at DXB and its sister facility, Al Maktoum International (DWC). By March 5, operations expanded modestly, including more than 100 flights scheduled by flagship carrier Emirates on March 5 and 6, though most regular scheduled commercial services remain heavily curtailed or suspended.

Dubai Airports advised passengers not to travel to the facility unless holding a confirmed booking and contacted directly by their airline. “Safety remains the top priority,” a spokesperson stated in recent updates. Travelers should check airline websites or apps for real-time status before heading to the airport to avoid congestion and unnecessary trips.

The disruptions stem from partial closures of UAE airspace and broader regional restrictions implemented as a precautionary measure amid the intensifying conflict. Iranian retaliatory strikes targeted areas near key Gulf hubs after initial U.S.-Israeli operations against Iran, prompting widespread airspace shutdowns across Iran, Iraq, Syria, Qatar, Bahrain, Kuwait and partial measures in the UAE and Saudi Arabia. This led to the suspension of all DXB operations starting late February 2026, with thousands of flights canceled globally — more than 20,000 in the Middle East alone since the escalation began.

Emirates, the primary operator at DXB, has operated a reduced schedule since the partial reopening, prioritizing repatriation and freight. The airline confirmed flights to select destinations are running, with gradual build-up subject to airspace availability. All scheduled Emirates flights to and from Dubai remain suspended until at least 11:59 p.m. UAE time on March 7 in some advisories, though limited services have proceeded. The carrier urged passengers not to proceed to the airport without confirmation.

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Other airlines followed suit. flydubai resumed a reduced network from DXB, adding flights as conditions allow. International carriers like Lufthansa suspended services to Dubai until March 6 or later, while Qatar Airways and Etihad maintained suspensions or limited ops at nearby hubs. Governments worldwide, including the U.S., arranged charter flights and assisted citizens in repatriation efforts from the UAE, Saudi Arabia and Jordan.

The crisis has stranded hundreds of thousands, with reports of chaos at terminals during the initial full closures. Hotels accommodated affected passengers, and authorities facilitated essential movements. Damage from incidents, including minor impacts at DXB concourses and nearby sites, was contained quickly, though one fatality and injuries occurred at Abu Dhabi’s Zayed International Airport in related events.

As of March 6, 2026, DXB handles only select flights, focusing on clearing backlogs of stranded travelers and maintaining cargo flows for critical goods like pharmaceuticals and perishables. Flight tracking shows moderate activity compared to normal volumes, with many departure boards still displaying cancellations for routine services. Weather conditions remain clear, but operational limits from airspace constraints dominate.

The partial restart follows similar phased approaches at Abu Dhabi (AUH) and other UAE airports, where limited repatriation flights operated by March 5. Authorities coordinate closely with the General Civil Aviation Authority and airlines to manage flow and prevent overcrowding.

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Broader implications highlight aviation’s vulnerability to geopolitical events in this transit-critical region. Dubai’s role as a global connector amplifies disruptions, affecting routes between Europe, Asia, Africa and beyond. Airline shares stabilized after initial sell-offs, though recovery depends on de-escalation.

Travelers face ongoing uncertainty. Experts recommend monitoring official sources like dubaiairports.ae, emirates.com and flight-status tools. Bookings may require flexibility, with waivers offered by many carriers for rebooking or refunds.

The situation remains fluid, with potential for further adjustments based on regional developments. While limited operations offer relief for some, full normalcy at DXB — typically handling over 1,500 daily movements — awaits stabilization of airspace and security conditions.

For now, the airport functions in crisis mode, prioritizing safety and essential connectivity amid one of the most severe aviation shocks since the COVID-19 pandemic.

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Carlyle and CVC reportedly agree to share fees with UBS for distribution to wealthy clients

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Carlyle and CVC reportedly agree to share fees with UBS for distribution to wealthy clients

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Form 144 Delek US Holdings For: 6 March

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Form 144 Delek US Holdings For: 6 March

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Hotspur Press set for demolition this year under new scheme

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Developers commit to ‘faithful reproduction of the former mill facades’

How The Hotspur Press could look under new plans drawn up by Manner after the June 2025 fire

How The Hotspur Press could look under new plans drawn up by Manner after the June 2025 fire(Image: Manner)

Hotspur Press is set to be completely demolished after an inferno raged through the Georgian mill last June, developers have announced.

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Manner had planning permission to build a 35-storey student accommodation block around the mill’s facades when disaster struck last summer, but its building attempts were held up by a bid to list the building and the company’s multiple changes to planned cladding panels. In January, the developers revealed revised plans for the site, promising to ‘replicate’ the original structure and incorporate ‘any materials that can be reused’.

On Thursday (March 5), Manchester council recommended the project be given planning permission, but confirmed ‘as a result of the fire, the mill facades cannot be retained and would be demolished and reconstructed in a replicated form’ with the same dimensions ‘but with new materials’.

A spokesperson for Manner ‘welcomed the recommendation for approval and the opportunity to bring forward our revised plans for the regeneration of The Hotspur Press’.

They added: “Our updated planning application sets out a regeneration scheme that remains true to our original vision, following the setback of the devastating fire the building suffered in 2025. While it is not possible to safely retain the remaining structure, we are committed to a faithful reproduction of the former mill facades.

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Plans for a new public square around Hotspur Press remain unchanged.

Plans for a new public square around Hotspur Press remain unchanged(Image: Manner)

“This approach will ensure the historic significance of The Hotspur Press can be appreciated by Manchester’s residents, while bringing it back into productive use for the first time in nearly two decades and delivering the site’s wider regeneration plans.”

Manner previously said it hoped to start demolition and the rebuild at some point in 2026.

The Georgian mill had been subject to numerous redevelopment attempts since it closed as a printing press in 1996, including a 2020 bid to convert it into private flats which came to nothing, despite being awarded planning permission.

A 619-student accommodation tower will now be built on the Cambridge Street site, which will be clad in bronze, following multiple changes to the scheme by Manner before the fire started. After initially proposing brick cladding, it asked for permission to switch to silver material, and then bronze.

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Changes further delayed building beginning after an application to list the building in 2025 held up the process until January 2025, when Culture Secretary Lisa Nandy rejected the bid.

The proposal will be debated by Manchester’s planning committee at 2pm on Thursday, March 12. You can watch it online here.

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

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PayPal: Cheap For Good Reason (Rating Downgrade)

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PayPal: Cheap For Good Reason (Rating Downgrade)

PayPal: Cheap For Good Reason (Rating Downgrade)

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RVT CEF: Expensive Small-Cap Income Fund (Rating Downgrade) (NYSE:RVT)

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RVT CEF: Expensive Small-Cap Income Fund (Rating Downgrade) (NYSE:RVT)

This article was written by

Financial analyst by day and a seasoned investor by passion, I’ve been involved in the world of investing for over 15 years and honed my skills in analyzing lucrative opportunities within the market.I specialize in uncovering high quality dividend stocks and other assets that offer potential for long term-growth that pack a serious punch for bill-paying potential. I use myself as an example that with a solid base of classic dividend growth stocks, sprinkling in some Business Development Companies, REITs, and Closed End Funds can be a highly efficient way to boost your investment income while still capturing a total return that follows traditional index funds. I created a hybrid system between growth and income and manage to still capture a total return that is on par with the S&P.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within 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.

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Politics And The Markets 03/06/26

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

This is the forum for daily political discussion on Seeking Alpha. A new version is published every market day.

Please don’t leave political comments on other articles or posts on the site.

The comments below are not regulated with the same rigor as the rest of the site, and this is an ‘enter at your own risk’ area as discussion can get very heated. If you can’t stand the heat… you know what they say…

More on Today’s Markets:

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Leadership upheaval at the U.S. Department of Homeland Security intensified Thursday after President Donald Trump removed Kristi Noem as secretary and said he would nominate Sen. Markwayne Mullin as her replacement. The shift could influence billions of dollars in federal security, border enforcement and defense-related spending.

Roughly 20 million barrels per day of petroleum liquids pass through the Strait of Hormuz, making it the world’s second-largest oil transit chokepoint. Any prolonged disruption could have significant implications for global energy markets and inflation.

Crude oil extended gains Thursday as the U.S.-Israel war on Iran entered its sixth day, with global supply threatened by attacks against critical infrastructure and shipping traffic through the Strait of Hormuz almost fully stopped, trapping ~20% of the world’s daily oil consumption.

‘Trump Always Chickens Out’ “applies when Trump on his own decides e.g. if tariffs are 50% or 0% instantaneously,” Kolanovic said. Trump’s Liberation Day tariff announcement last year drove a sharp market selloff, before a rebound took hold about a week later when the White House paused the harsher tit-for-tat tariffs (while keeping a baseline tariff). The TACO

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