Fredun Pharmaceuticals has announced a 2:1 bonus issue where the company will pay two fully paid-up equity shares of Rs 10 each for every 1 existing equity share of Rs 10 each, to the eligible shareholders and warrant holders as on the record date. The decision was made in a board meeting held on Monday, May 25 and the bonus issue payment will be subject to shareholders’ approval.

Through the bonus share, Fredun’s strategic intent is to reward shareholders for their sustained confidence and long-term commitment to the company’s growth vision. The move signals management’s confidence in the structural earnings growth and long-term scalability of the business with multiple high-growth engines firmly in place, the company’s filing to the exchanges said.

This includes branded generic exports to 52 countries, domestic Fredun Gx formulations, an integrated pet healthcare platform (Freossi, Wagr and One Pet Stop), nutraceuticals, and cosmeceuticals (Bird N Beauty) — the Company is well-positioned to sustain its growth trajectory.

The inauguration of its 5th GMP-certified manufacturing facility in April 2026 provides significant capacity headroom to support the next phase of scaling across all verticals.

This move not only aligns with the company’s consistent value creation philosophy but also reinforces its commitment to delivering long-term, inclusive wealth creation for shareholders.

The smallcap pharma company is into pharmaceutical formulation manufacturing, diversified across generics, cosmeceuticals, nutraceuticals, mobility, and animal healthcare products.
The Board of Directors, at its meeting held on May 25, 2026, wherein the audited financial results for Q4 and FY26 were approved, has recommended the issuance of bonus shares in the ratio of 2:1, i.e. In FY26, Fredun reported total revenues of Rs 639.12 crore, with an Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) of Rs 94.79 Cr along with a profit after tax (PAT) of Rs 33.21 crore.Commenting on the development, Managing Director Fredun Medhora said, “The recommendation of a 2:1 bonus issue reflects the strong momentum we have built and our confidence in sustaining this growth trajectory. With robust performance across revenue and profitability, and continued progress in diversifying into higher-value segments such as nutraceuticals, cosmeceuticals and pet healthcare, we are strengthening the quality and scalability of our business”. This bonus is a way of sharing our progress with shareholders while reinforcing our commitment to consistent, long-term value creation, he added.

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

This article was written by

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.

NEW YORK — Modine Manufacturing Company shares surged more than 24% on Tuesday, reaching $323.25 in morning trading after the Wisconsin-based thermal management specialist announced a landmark multi-year capacity agreement worth up to $4 billion with a major data center customer.

The deal, announced early Tuesday, covers Airedale by Modine cooling solutions through 2029 and underscores the company’s deepening role in supporting the explosive growth of artificial intelligence infrastructure. The agreement provides Modine with long-term revenue visibility as hyperscale operators continue investing heavily in advanced thermal management systems to handle the intense heat generated by high-performance AI servers.

Modine, a leader in heat transfer and cooling technologies, has positioned itself at the center of the AI buildout. Its data center solutions have seen rapid demand growth, with the company’s Climate Solutions segment reporting strong organic expansion in recent quarters. The new contract represents one of the largest single commitments in the company’s history and signals confidence from a key strategic partner in Modine’s ability to scale production.

The stock’s dramatic move reflects investor enthusiasm for companies directly benefiting from the artificial intelligence megatrend. Data centers require sophisticated cooling systems to maintain optimal operating temperatures, and Modine’s liquid cooling and high-efficiency air cooling technologies are increasingly critical as power densities rise with next-generation chips.

Analysts have grown increasingly bullish on Modine’s prospects. The company has consistently raised its full-year guidance, with management highlighting accelerating data center revenue and margin expansion. Recent quarterly results showed Climate Solutions revenue growing more than 50%, including robust organic gains driven by AI-related demand.

The latest agreement further solidifies Modine’s transition from traditional automotive and industrial markets toward higher-margin, technology-driven segments. While the company maintains a diversified portfolio, data center cooling has emerged as a primary growth engine, with management targeting over $1 billion in annual data center revenue this year.

Modine’s strategic pivot has been well-received by the investment community. Several Wall Street firms have raised price targets and earnings estimates in recent months, citing structural tailwinds in the AI infrastructure market. The company’s ability to secure long-term capacity commitments provides earnings predictability that was previously lacking in its more cyclical businesses.

The surge also comes amid broader strength in industrial and technology stocks tied to AI infrastructure spending. Investors have shown willingness to reward companies with clear exposure to data center expansion, even at elevated valuations, as long as growth trajectories remain robust.

For Modine, the $4 billion agreement validates years of investment in research and development and manufacturing capacity. The company has expanded its production footprint to meet surging demand, including new facilities and technology upgrades focused on liquid cooling solutions that are becoming industry standard for high-density AI deployments.

Management has emphasized disciplined execution and operational efficiency as it scales. Gross margins in the data center business have shown meaningful improvement, contributing to overall profitability gains. The company continues targeting further margin expansion through cost optimization and product mix shifts toward higher-value solutions.

The stock’s performance this year has been exceptional, with shares more than doubling as investors rotated into AI-related industrial names. Tuesday’s move pushes Modine to new all-time highs, reflecting sustained momentum and growing conviction in its long-term outlook.

Market observers note that while the valuation has expanded significantly, the growth profile justifies premium multiples. Data center spending is expected to remain elevated for years as companies build out AI capabilities, creating a multi-year runway for suppliers like Modine.

Challenges remain, including potential supply chain constraints and competition from larger players. However, Modine’s specialized expertise and established customer relationships provide competitive advantages in a market where reliability and performance are paramount.

The company’s upcoming earnings report, scheduled for later this week, will be closely watched for further confirmation of its guidance and momentum. Analysts anticipate another strong quarter, with revenue and earnings continuing to track well above prior-year levels.

For investors, Modine represents exposure to one of the most compelling secular growth stories in industrial technology. The combination of AI demand, capacity expansion and margin improvement creates a compelling investment thesis, though volatility remains a consideration given the stock’s rapid appreciation.

Tuesday’s trading volume was significantly elevated as the stock broke through previous resistance levels. The move suggests broad participation from both institutional and retail investors drawn to the company’s AI infrastructure narrative.

As markets digest the latest gains, attention will turn to execution on the new contract and potential additional wins in the data center space. Modine’s ability to deliver on its ambitious targets will determine whether current enthusiasm translates into sustained shareholder value.

The company’s transformation highlights broader shifts in industrial markets, where traditional manufacturers are adapting to serve the technology infrastructure needs of the digital age. For Modine, this evolution has created substantial opportunities that are now materializing in both revenue growth and market recognition.

With shares at record levels, some investors may question whether the rally has room to run. However, most analysts maintain that the structural changes in the industry and Modine’s competitive positioning support higher valuations than in previous business cycles.

The latest surge adds another chapter to what has been a remarkable period for Modine shareholders. The stock’s performance underscores the market’s appetite for high-quality growth stories in strategically important sectors, even as broader economic uncertainties persist.

As the trading day continues, Modine shares will likely remain in focus. The significant move highlights the stock’s sensitivity to positive news flow and broader sentiment around artificial intelligence infrastructure spending.

The industrial technology sector’s momentum appears intact, with Modine leading gains on strong contract momentum. Investors will continue monitoring developments in AI adoption, supply chain dynamics and competitive positioning as the year progresses.

Tuhin Kanta Pandey on Monday said India continues to remain a diversified equity market despite Taiwan overtaking it in overall stock market value, noting that the Taiwanese market is heavily concentrated around a handful of companies led by chip giant Taiwan Semiconductor Manufacturing Company. “India is a diversified market, but Taiwan has concentrated stocks and a higher market cap driven by a few companies,” the Sebi chairman said. His comments come after Taiwan overtook India in total stock market cap, driven largely by a sharp rally in TSMC amid the global artificial intelligence boom.

According to Bloomberg data, Taiwan’s market cap rose to around $4.95 trillion, marginally ahead of India’s $4.92 trillion, making Taiwan the world’s fifth-largest equity market after the US, mainland China, Japan and Hong Kong.

The rally in Taiwan has been driven overwhelmingly by TSMC, which now accounts for nearly 42% of the benchmark Taiwan index.

TSMC shares have surged around 49% this year as investors globally poured money into semiconductor and AI-linked companies amid strong demand for advanced chips.

The AI-driven rally has disproportionately benefited technology-heavy markets such as Taiwan and South Korea, while India has faced pressure from high oil prices, foreign investor outflows and slower earnings growth in some sectors.

Global investors have sold nearly $24 billion worth of Indian equities this year as capital shifted toward AI-linked opportunities in Asia, particularly semiconductor manufacturers.
Indian equities have also faced pressure from elevated valuations, a weakening rupee and rising energy prices linked to geopolitical tensions in West Asia.The benchmark Nifty is down around 8% this year, putting it on track for its first annual decline in over a decade.

India’s weight in the MSCI Emerging Markets Index has also fallen to around 12% from nearly 19% last year.

Despite the decline in market cap rankings, India’s broader economic fundamentals remain significantly larger than Taiwan’s.

India’s economy is estimated at around $4.15 trillion compared with Taiwan’s roughly $977 billion economy, according to IMF estimates.

Pandey’s comments also indirectly highlight one of the key structural differences between the two markets.

While Taiwan’s stock market is highly dependent on a single global technology leader, India’s market capitalisation is spread across financials, energy, consumer companies, industrials, telecom, pharmaceuticals, IT services and manufacturing businesses.

Market experts say this diversification provides greater resilience during sector-specific volatility, although it may also limit the kind of concentrated gains seen in AI-driven markets.

Taiwan’s rally has also received support from regulatory changes.

The island’s financial regulator recently increased the investment limit domestic funds can allocate to a single stock from 10% to 25% for companies with benchmark weightings above 10%.

Currently, only TSMC qualifies under that rule.

JPMorgan had earlier estimated the move could attract more than $6 billion of additional inflows into Taiwan’s equity market.

For India, however, the challenge remains balancing valuations, earnings growth and foreign investor sentiment at a time when global capital is increasingly chasing AI-linked opportunities.

WASHINGTON — Pending home sales in the United States rose 1.4% in April, surprising economists and investors who had anticipated continued weakness in the housing market amid persistently high mortgage rates.

The National Association of Realtors reported the increase Monday, marking a modest rebound in contract signings for existing homes. The data suggests some buyers are moving forward with purchases despite borrowing costs remaining elevated above 6.5% for 30-year fixed mortgages in recent weeks.

The unexpected uptick has sparked fresh debate about whether real estate remains the most reliable path to long-term wealth or if alternative investments now offer stronger returns with less friction. For decades, homeownership has been viewed as a cornerstone of the American dream, providing both shelter and an appreciating asset. Yet shifting economic conditions are forcing many to reconsider that assumption.

Economists had forecasted a decline in pending sales for April, given mortgage rates that have hovered near multi-year highs. The actual increase points to pockets of resilience among buyers who may have locked in rates earlier or are betting on potential future declines in borrowing costs. However, the overall market remains constrained by limited inventory and elevated prices in many metropolitan areas.

Home price growth has slowed significantly from the rapid appreciation seen during the pandemic-era boom. Distressed sales and foreclosure bargains, once common during previous downturns, remain rare as homeowners with low-rate mortgages hold onto properties. This lack of supply continues to support prices even as demand fluctuates.

The housing market’s mixed signals come at a time when Americans face broader financial decisions. With stock markets showing volatility and alternative investments like small businesses gaining attention, real estate’s traditional advantages — leverage through mortgages, tax benefits and historical appreciation — are being weighed against new realities.

Small business ownership, for instance, can deliver higher cash flow and personal control but requires substantial upfront capital, operational expertise and tolerance for risk. Many investors are evaluating whether directing resources toward entrepreneurship or diversified portfolios might outperform traditional property holdings in the current environment.

Real estate professionals acknowledge the challenges. High mortgage rates have priced out some first-time buyers, while existing homeowners hesitate to sell and lose their favorable loan terms. This dynamic has created a stalemate that benefits neither buyers nor sellers fully.

The April data offers a glimmer of hope for the industry. Pending sales serve as a leading indicator for future closings, typically materializing one to two months later. A sustained increase could signal improving conditions heading into the traditionally busy summer buying season.

Yet analysts caution against overinterpreting a single month’s data. Broader trends show the housing market adapting to higher rates rather than returning to pre-pandemic norms. Affordability remains a significant barrier, particularly in coastal and major metropolitan markets where prices have far outpaced wage growth.

Federal Reserve policy continues to influence the sector. While recent signals suggest potential rate cuts later in 2026, any delay could keep mortgage rates elevated and suppress activity. Investors are closely monitoring central bank communications for clues about the timing and pace of monetary easing.

The rise in pending sales also reflects changing buyer demographics. Millennials and younger generations, long shut out of homeownership, are entering the market in greater numbers as they achieve career stability. However, many still face student debt and high living costs that complicate saving for down payments.

Real estate investment trusts and other publicly traded property companies have shown mixed performance this year. Some sectors, such as industrial and data centers, have benefited from structural shifts in the economy, while traditional residential and office properties face headwinds.

For individual Americans, the decision between real estate and other investments has grown more complex. Rental properties can generate steady income but require active management and carry risks related to maintenance, vacancies and local regulations. Stocks and bonds offer liquidity and diversification but lack the tangible security of physical assets.

Financial advisers recommend a balanced approach. While real estate has historically delivered strong long-term returns, concentrating too heavily in property can expose investors to local market downturns and interest rate sensitivity. Diversification across asset classes remains a core principle for managing risk.

The April pending sales data arrives as the broader economy shows resilience. Low unemployment and steady consumer spending have supported housing demand, even as inflation concerns linger. Yet regional variations are pronounced, with Sun Belt markets seeing stronger activity than slower-growth areas in the Northeast and Midwest.

Homebuilders have responded to high rates by focusing on entry-level and affordable housing projects. Incentives such as rate buydowns and seller concessions have helped move inventory, though overall construction remains below levels needed to ease the national housing shortage.

The unexpected sales increase could influence Federal Reserve thinking. Stronger housing activity might signal that the economy can withstand higher rates longer than anticipated, potentially delaying rate cuts. Conversely, sustained weakness could add urgency to easing policy.

For prospective buyers, the current environment demands careful planning. Locking in rates through purchase programs or exploring adjustable-rate mortgages requires thorough risk assessment. First-time buyers, in particular, should consider their long-term plans and financial buffers before committing.

Sellers face their own calculations. Those with low-rate mortgages must decide whether to list properties and face higher rates on new purchases or remain in place. This hesitation contributes to low inventory and supports prices in desirable locations.

The housing market’s evolution reflects deeper societal shifts. Remote work has altered location preferences, while generational wealth transfers and changing family structures influence buying patterns. Understanding these dynamics is essential for making informed decisions.

As Americans weigh real estate against other opportunities, the April data provides a data point rather than a definitive trend. The coming months will reveal whether the modest rebound signals genuine recovery or merely a temporary fluctuation in a market still adjusting to higher borrowing costs.

For now, the conversation continues. Real estate retains its appeal as a tangible asset with leverage potential, but competing investments offer different advantages in an increasingly complex financial landscape. Navigating these choices requires careful analysis of personal circumstances, risk tolerance and long-term goals.

The latest housing numbers serve as a reminder that markets rarely move in straight lines. Unexpected resilience in pending sales highlights the adaptability of buyers and the enduring draw of homeownership, even in challenging conditions. How this plays out will shape wealth-building strategies for millions of Americans in the years ahead.

The charity is currently advertising for someone to join its land management team on a fixed-term basis

A Gloucestershire charity says it is “working to change” after being slammed online for advertising an unpaid voluntary role as the “perfect opportunity” for someone looking to pursue a career in the UK conservation sector.

Gloucestershire Wildlife Trust (GWT) is looking for a so-called ‘wild trainee’ to join its land management team for 21 hours a week on a fixed-term basis for nine months, with the chance to extend for a year.

According to the job advert on the charity’s website, the candidate will receive a personal training plan and “tailored internal and certified external training”, but will need their own transport and will not receive a salary.

“As well as a wide range of experience across the work of the Wildlife Trusts, [the role is] designed to give you the professional skills you need to get your first job in the sector,” the advert reads.

“With individual support you will have opportunities to get involved in all aspects of GWT’s work. Initially focussing on practical habitat management across our nature reserves and project sites, you’ll gain experience in many aspects of UK wildlife conservation, while absorbing practical knowhow from your experienced and friendly mentor.

“Throughout the year you will also gain technical and soft skills with other GWT teams, including Ecological Evidence, Farm Advice, Engagement & Learning and Communications to give you wider experience and an overview of the career opportunities available in the UK Nature sector.”

But dozens of people have criticised the charity, which says it is an equal opportunity employer, for not offering a salary.

One Facebook user wrote: “Wow that is such a lot of expected hours for a voluntary position. I’d absolutely LOVE to do this in order to retrain. No doubt this’ll go to someone lucky enough to have the Bank of Mum & Dad at their disposal then.”

While another said: “I realise there is little to no money in conservation work, and unpaid work experience placements are part of the ‘culture’, but asking people to work for nothing really does reinforce the stereotype of conservation as an upper-middle class pursuit, as others have said.”

And one person wrote: “So many places now expect a person to feel so grateful to have a job that they’ll work for free… If you want a trainee to arrive at work healthy, fed, rested and eager to learn then i suggest you pay them! You will surely miss out on some amazing people simply because they cannot afford to work for free.”

GWT told Business Live it takes concerns “like this seriously” and said it was “actively working” to try to leverage more funding for its Wild Trainees programme to provide salaried opportunities.

“Similar to many other charities, we have been hit hard by operational costs and increases in budgets,” a spokesperson said.

“We are constantly on the lookout for government schemes that could support apprenticeships and paid internships and remain disappointed that this has not been prioritised by the current administration.

“Currently, our Wild Trainee programme is designed to provide meaningful opportunities that support individuals towards paid employment.”

GWT told Business Live its scheme offers access to mentoring, training and development, including first aid training, and covers expenses such as travel mileage and lunch.

“[It is a] chance to gain experience across different areas of the sector in a more flexible way and with more depth than with a traditional paid entry-level role,” the spokesperson said.

“We appreciate concerns raised about accessibility, and cover expenses such as travel and lunch, and provide flexible, part-time hours to enable trainees to balance this opportunity alongside other commitments. We appreciate this still doesn’t go as far as we would aspire to and we are working to change this.”

GWT said its Wild Trainee programme had “high success” with many participants going on to gain access to permanent job roles in the sector.

“As a charity, we aim to maximise opportunities for nature and communities, and training programmes like this are one way we invest in developing future conservation professionals,” the organisation added.

Latest documents on Companies House, show GWT’s total income for the year to the end of March 2025 was £6.1m – a 12 per cent increase on the previous year and the highest recorded to date. Although the charity’s expenditure was £6.4m, at the time it held free reserves, after emergency and designated funds, of £243,499.

According to the government’s charity commission website, GWT currently has 109 employees, 11 trustees and 650 volunteers.

It also pays one person within the organisation between £90,000 and £100,000 a year, although no trustees receive any remuneration, payments or benefits from the charity.

Ferrari, the iconic Italian sports car brand, has unveiled its first fully electric vehicle, but the car is going to be out of most people’s price range.

The Wall Street Journal reported that the starting price would be 550,000 euros in Italy, which amounts to around $640,000.

Fox News Digital reached out to the auto company on Tuesday.

FERRARI BRINGS BACK LEGENDARY TESTAROSSA NAME WITH 1,050-HORSEPOWER PLUG-IN HYBRID BEAST

“The Ferrari Luce is the first electric Ferrari from the Maranello marque,” a press release declares.

The vehicle can go from 0-100 kilometers per hour, which is about 62 miles per hour, in just 2.5 seconds, and from 0-200 kilometers per hour, which is about 124 miles per hour, in 6.8 seconds, according to the car company.

AMERICANS DITCH EVS FOR BIGGER VEHICLES AS AUTO TRENDS REVERSE

Ferrari places the estimated range at 530 kilometers, with the release saying “in excess of 530 km,” which equates to around 329 miles.

“The electric power source enables a radically new architecture that generously accommodates four doors and five seats. This is the second four-door Ferrari, and the first with five seats,” the company noted.

HYUNDAI RECALLS OVER 421,000 VEHICLES TO FIX SOFTWARE BUG CAUSING UNEXPECTED BRAKING

GET FOX BUSINESS ON THE GO BY CLICKING HERE

“With Ferrari Luce, we are once again redefining the limits of what is possible. Today, we are not simply unveiling a new car, we are inaugurating a chapter that turns our vision into reality, strengthening Ferrari’s tradition of anticipating and shaping the future,” Ferrari President John Elkann said, according to the May 25 release.