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S&P/ASX 200 Edges Higher to 8,669.9 as Modest Gains Lift Australian Shares Mid-Session

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Australia Housing Market 2026: Two-Speed Boom Persists as Prices Hit

SYDNEY — The S&P/ASX 200 index advanced modestly on Wednesday, climbing 12.1 points or 0.14 percent to reach 8,669.9 by mid-afternoon trade, reflecting cautious optimism among investors amid mixed global signals and steady domestic economic indicators.

The benchmark index showed resilience in afternoon trading on May 27, 2026, as select resource and financial stocks provided support despite broader market hesitation. At 2:34 p.m. AEST, the gain placed the index near recent trading ranges, building on incremental progress seen in prior sessions amid ongoing geopolitical developments and commodity price movements.

Trading volume remained steady as participants assessed the latest inflation data and corporate earnings flows. Materials and financial sectors contributed positively, while energy and technology shares displayed varied performance. The modest uptick followed a period of volatility influenced by international events, including Middle East tensions and U.S. market trends from the previous session.

Market Drivers and Sector Performance

Resource stocks benefited from stable iron ore and copper prices, with several miners posting gains. Financial services firms, including the major banks, offered support as investors weighed potential Reserve Bank of Australia policy signals. Recent employment data showing softer-than-expected figures has reinforced expectations that the RBA may hold rates steady after earlier hikes.

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The materials sector stood out with notable strength in several constituents. Companies exposed to base metals and precious resources saw buying interest as global demand indicators remained constructive. Energy stocks faced some pressure from fluctuating oil prices, which had risen earlier in the week on geopolitical concerns but showed signs of stabilization.

Broader market breadth was mixed, with roughly half the index constituents trading higher. Defensive sectors such as healthcare and consumer staples provided stability, while discretionary retail and technology names traded with caution amid global growth concerns.

Analysts noted that the Australian market continues to navigate a complex environment. Geopolitical risks in the Middle East, including U.S. actions and diplomatic efforts, have influenced commodity flows and investor risk appetite. Domestically, focus remains on inflation trends, with the latest CPI readings providing some relief after earlier accelerations.

Economic Backdrop and Policy Outlook

Australia’s economy has shown resilience despite global headwinds. The labor market data released recently indicated cooling conditions, which market participants interpret as reducing immediate pressure for further monetary tightening. The RBA’s cash rate stands at elevated levels following hikes earlier in 2026, and investors are closely monitoring upcoming inflation prints for clues on future policy direction.

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Commodity exports remain a cornerstone of Australian growth. Iron ore, coal and liquefied natural gas prices continue to influence the terms of trade. While China’s demand has been uneven, signs of stabilization in key sectors have supported related ASX listings. Gold prices hitting periodic highs also provided a tailwind for mining shares.

The Australian dollar traded around recent levels against the U.S. dollar, reflecting balanced views on relative interest rate paths between the RBA and the U.S. Federal Reserve. Currency movements have implications for multinational earners and import costs across the economy.

Corporate Highlights and Earnings Influence

Several companies reported updates that moved individual share prices. Resource firms with strong production outlooks attracted buyers, while banks benefited from steady lending metrics despite higher borrowing costs. Dividend-focused investors continued to favor stable yield names in the current environment.

Market strategists highlight that Australian equities have lagged some global peers year-to-date, partly due to sector composition heavy in financials and resources versus technology-heavy indices elsewhere. However, attractive valuations in certain segments have drawn selective buying.

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Global Context Shaping Local Sentiment

Overseas developments continue to set the tone. U.S. markets showed mixed results overnight, with some indices reaching records amid artificial intelligence optimism and corporate earnings strength. European shares also posted gains on hopes of tariff delays and diplomatic progress.

Oil price fluctuations have been particularly influential. Brent crude movements in response to Middle East events have affected energy stocks and broader inflation expectations. A potential easing of tensions could support risk assets, while escalation risks remain a key concern for traders.

Asian markets presented a varied picture, with some regional bourses gaining on stimulus expectations while others faced pressure from trade dynamics. This patchwork of international cues contributed to the ASX 200’s restrained session.

Technical Outlook and Investor Strategies

From a technical perspective, the S&P/ASX 200 has been trading within a defined range in recent weeks. The current level near 8,670 sits above some short-term support but below recent peaks. Analysts watch the 8,700–8,800 zone as potential resistance, with downside support around 8,500.

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Institutional investors have maintained balanced positioning, with some increasing exposure to domestic cyclicals while hedging against external shocks. Retail participation remains active through exchange-traded funds tracking the benchmark.

Longer-term, structural factors such as superannuation flows, population growth and the energy transition continue to shape Australian equity prospects. Sectors aligned with decarbonization and critical minerals have drawn sustained interest.

Looking Ahead

As the trading day progresses, attention turns to any late corporate announcements and offshore leads from U.S. futures. Thursday’s session will likely focus on further inflation data and commodity updates. The index’s ability to hold above key levels could signal building momentum into the end of the month.

Market watchers emphasize the importance of diversification in the current climate. While modest gains like Wednesday’s provide encouragement, volatility linked to geopolitics and central bank decisions remains elevated. Investors are advised to monitor upcoming economic releases closely.

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The S&P/ASX 200’s performance reflects Australia’s position as a resource-rich, trade-exposed economy navigating global uncertainties. With the index showing tentative recovery signs, participants remain focused on sustainable growth drivers and policy responses that could influence the second half of 2026.

Broader All Ordinaries index moved in tandem, underscoring widespread but measured participation across listed companies. As markets digest the day’s developments, the modest advance underscores a wait-and-see approach typical of uncertain times.

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Breast Augmentation in Turkey – Top 10 Clinics

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Breast Augmentation in Turkey - Top 10 Clinics

Turkey has become a top global destination for medical tourism pretty quickly, and this is particularly true for cosmetic surgery. It has an outstanding reputation for excellence in cosmetic surgery, and thousands of international patients visit every single year.

Currently, one of the most sought-after procedures is breast augmentation, with tens of thousands of successful ones taking place year by year. Now, for many women, breast augmentation in Turkey represents a unique opportunity to access elite medical facilities, such as, for example, the highly regarded Cosmedica Aesthetic, at a fraction of the cost compared to Western countries.

If you are having issues picking the best clinic for you, this guide will serve as a curated resource to help you pick one of the top 10 clinics for breast augmentation Turkey has to offer, ranked by quality, safety, and patient experiences.

Why Women Are Choosing Turkey for Breast Augmentation

There are many reasons, but here are the most notable ones.

High-Quality Care

Turkey is home to modern, internationally accredited medical facilities that follow the highest global safety standards. Many leading plastic surgeons have a ton of experience, with many having completed parts of their training in Europe or the United States. These specialists are experts at using state of the art techniques and premium silicone to give patients the most natural breast results that prioritize the health and aesthetic goals.

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Affordable Costs

One of the most notable advantages is that breast augmentation in Turkey typically costs 50% to 70% less than in the UK or the USA. Why? The answer is simple. Turkey has a lower cost of living and government incentives for medical tourism. This makes the buzzword “high quality surgery Turkey” connected to accessibility without compromising medical standards.

Attractive Location for Medical Tourism

Istanbul is the most popular destination for breast enhancements in Turkey. You can actually combine your cosmetic procedure with a rich cultural experience. They have Excellent local hospitality and easy flight connections. This allows for a seamless transition from the initial consultation to some well deserved post operative relaxation in a luxury hotel.

All-Inclusive Packages

Many clinics in Turkey offer bundle packages that cover the surgery, anesthesia, hospital stay, hotel accommodation, airport transfers, and aftercare (and all that costs less than just the surgery in the West). Cosmedica Aesthetic is a prime example of a clinic that has this model. The main goal is to remove the stress of logistical planning.

The Top 10 Clinics for Breast Augmentation in Turkey

Here’s our list.

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#1 Cosmedica Aesthetic, Istanbul

Cosmedica Aesthetic is Istanbul’s leading clinic for breast augmentation for international patients. They offer great surgical precision and high end patient care.

The clinic is led by Dr. Ufuk Durgun, who is a very well-respected specialist in aesthetic and plastic surgery and is known for his extensive international qualifications and diverse patient base.

The clinic uses state of the art techniques and focuses on achieving natural breast results. They do this through individualized treatment plans, and this process involves a careful selection of breast size and shape, implant placement, and an incision approach that’s tailored to your unique anatomy. Also, Cosmedica uses premium silicone implants exclusively, surgeries including anatomical options, to ensure your safety and guarantee aesthetic longevity.

A key factor is their comprehensive all-inclusive package designed to support patients all the way from the initial consultation to post operative care.

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The package includes:

  • The full surgical procedure and anesthesia;
  • Monitored post-op stay in a top-tier hospital or clinic;
  • Luxury hotel accommodation and VIP airport transfers;
  • All the necessary medications and medical compression garments;
  • Free initial and follow-up consultations;
  • 24/7 English-speaking patient support.

They successfully treated patients from over 40 countries. So, Cosmedica’s international credibility is pretty well-established. Unlike many other providers that charge for initial assessments, as mentioned, they offer a free consultation, allowing patients to explore their options without financial pressure.

If you want to learn more or request a free consultation, visit this link: https://cosmedicaaesthetic.com/breast-augmentation-turkey/

#2 Body Expert – Agency

Here is a medical tourism agency from Istanbul. They connect international patients and Turkish clinics, and their partner surgeons (like Dr. Bülent Çığşar) are famous for precision and the fact that they follow international safety protocols. They offer a transparent, fixed-price model with zero hidden fees.

#3 Asthetica – Medical Tourism Clinic

This is a specialized medical tourism clinic that provides bespoke cosmetic surgery services. The medical team here is supported by nurses who are registered in the UK and Australia. Therefore, patients get communication and oversight from native English speakers. You can get comprehensive packages that include 5-star hotel stays and aftercare.

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#4 Longevita – UK-Based Facilitator

This company organizes cosmetic procedures in JCI-accredited hospitals in Istanbul. They have a network of independent and board-certified surgeons (like Dr. Nurettin, who has experience in breast and facial reconstruction). Also, they have a strong UK presence, and this basically means that patients can get consultations and follow-up reviews in Britain.

#5 Enhance Medical Group – UK Provider

Enhance MG is a prominent provider. They offer high quality cosmetic results and use premium materials (e.g. Mentor silicone implants). Surgeons here focus on education, helping women choose the most appropriate implant profile for their body type. They also offer a unique 12-month aftercare guarantee, which gives you some peace of mind.

#6 Estetik International

Estetik International is one of Turkey’s established aesthetic centers, founded by Bülent Cihantimur, an internationally acclaimed doctor. They have their “Spiderweb” technique and other proprietary surgical methods developed over 25 years. They use advanced 3D simulation technology, so you can visualize your surgical outcomes during the consultation.

#7 Esteworld

Esteworld is the first health group in Turkey dedicated exclusively to plastic and aesthetic surgery. Their network of specialists follows the “Healthy Beauty” philosophy (which basically means that they combine holistic wellness with surgical precision). They also have access to facilities designed to handle complex reconstructive and cosmetic cases with a full-time medical staff.

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#8 ClinicExpert

ClinicExpert will give you balanced body proportions through custom surgical approaches. Their surgeons are particularly skilled in hybrid breast augmentation. This involves using a method that combines silicone implants with fat grafting to achieve softer and more natural results. They utilize current diagnostic tools to evaluate breast tissue and skin elasticity prior to surgery.

#9 Acıbadem Beauty Center

And here, we have a clinic that is part of the (globally recognized) Acıbadem Healthcare Group. This beauty center offers a multi-disciplinary hospital environment, where patients benefit from a massive healthcare network that includes 24 hospitals and nearly 100 clinics. Their surgical teams have access to the latest medical technologies.

#10 Clinic Center

This is another UK-registered medical tourism company that specializes in all-inclusive plastic surgery packages in Turkey. They focus on boob job procedures with organized VIP transfers and dedicated patient hosts. Their team works with highly rated surgeons to deliver natural results that enhance the patient’s existing silhouette, with a focus on affordability.

What Does Breast Augmentation Cost in Turkey?

One of the more compelling reasons for the global rise of augmentation in Turkey is the value offered to international patients. On average, the Turkey offer for an all-inclusive package ranges from £2,000 to £4,000 (approximately €2,500 to €5,000). In contrast, a similar procedure in the UK typically costs between £5,000 and £8,000. Therefore, the final surgery Turkey cost is about 50% to 70% more affordable with the same clinical standards.

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Several factors influence the final cost:

  • The implant type and brand play a role. Premium silicone implants, particularly anatomical options, generally carry a higher price than standard round options;
  • Clinic and hospital tiers are also important. Pricing varies based on the facility’s accreditation level, its state of the art medical equipment, and location in Istanbul;
  • The surgeon’s experience is also factored in. Highly reputable plastic surgeons with extensive portfolios charge more but offer superior outcomes;
  • Package inclusions are another thing. You should distinguish between surgery-only quotes and all-inclusive packages with luxury accommodation and VIP transfers.
Country Average Price Range
Turkey £2,000 – £4,000
UK £5,000 – £8,000
USA £6,000 – £9,000
Average Saving 50% – 70%

IMPORTANT NOTE: Even when you add international flights, the all-inclusive model typically makes your boob job Turkey journey the most cost-effective choice.

What to Expect: Your Step-by-Step Journey

Here’s how it works.

Stage 1: Initial Consultation

Before you hop on a plane, you will have a remote consultation via video call. This is where you will talk about your aesthetic goals and personal preferences, medical history, breast implant options, expected results, and so on. Leading providers like Cosmedica Aesthetic offer this initial assessment free of charge, providing a personalized treatment plan.

Stage 2: Pre-Operative Preparations

One to two weeks before your breast surgery Istanbul, you will get blood tests and potentially a mammogram. Your surgeon will provide specific advice based on your health condition. You should avoid smoking, alcohol, or certain medications to ensure a safe procedure. You will also sign consent forms and confirm travel arrangements.

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Stage 3: Surgery Day

When you arrive at the clinic, you will be prepared for the breast implants Turkey surgery under general anesthesia. The procedure typically takes 1 to 2 hours, after which you are moved to a recovery room for monitoring.

Stage 4: Post-Operative Care in Clinic

Most patients spend 1 to 2 nights monitored in the clinic or hospital. During this time, the medical team manages pain and provides detailed post operative care instructions, including drain removal and wound checks before you are discharged.

Stage 5: Recovery at Hotel and Return Home

You will rest at your hotel for 2 to 4 nights, with the clinic team available 24/7 by phone. Most patients are fit to fly home after 4 to 5 days (approx). While you can resume light activities, full recovery takes 4 to 6 weeks (during which you should avoid lifting and strenuous activities), with the final results settling at 3 to 4 months.

NOTE: Cosmedica further differentiates itself by offering a remote follow-up service to monitor your progress after you return home.

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Tips for a Smooth Recovery After Breast Augmentation

Here’s some practical advice to ensure the best results from your breast enlargement Turkey.

  • Rest and avoid strenuous activity for at least 4 to 6 weeks. Avoid heavy lifting or intense exercise to allow the breast tissue to heal correctly;
  • For pain management, use the prescribed medication schedule and contact your clinic immediately if you experience anything unexpected;
  • Wear a supportive surgical bra. It reduces swelling, supports the healing process, and shapes the final results;
  • Follow the surgeon’s instructions precisely: Every health condition is unique, and personalized guidance is the most important factor in your recovery. Initial swelling and firmness are normal and will resolve as results settle at 3 to 4 months.

Ready to Start Your Journey?

Turkey (and Istanbul specifically) is, as we have learned, the premier destination for breast enhancement. You get the best surgical expertise, great affordability, and VIP luxury care. You can get complex reconstructions and aesthetic enhancements as Istanbul’s plastic surgery sector provides excellent outcomes backed by all-inclusive packages.

Cosmedica Aesthetic embodies these high standards. You get a safe, professional, and patient-focused environment for your transformation.

If you feel that you are ready to explore your options, we invite you to take the first step toward your new look, book a free consultation, and schedule your breast augmentation in Turkey when you can.

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LIC shares drop 4% on Rs 10,000 crore govt stake sale buzz

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LIC shares drop 4% on Rs 10,000 crore govt stake sale buzz
Shares of Life Insurance Corporation of India (LIC) dropped as much as 4% to an intraday low of Rs 810 on the BSE on Wednesday after a report said the government could begin formal marketing next month for a proposed stake sale that may raise up to Rs 10,000 crore ($1 billion).

The government plans to sell a stake of about 2% in the state-run insurer in late June or early July to institutional investors, according to a Bloomberg report.

The Department of Investment and Public Asset Management (DIPAM), under the finance ministry, is working with Goldman Sachs Group, Motilal Oswal Investment Advisors, BNP Paribas SA, and IIFL Capital Services to manage the transaction, the report added.

India had earlier sold a 3.5% stake in LIC in May 2022 through what was then the country’s largest initial public offering, raising nearly Rs 21,000 crore. The shares were priced at Rs 949 apiece during the IPO.

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As of March 31, the Indian government held a 96.5% stake in LIC, according to exchange data. The insurer has been given 10 years from its 2022 listing to comply with the Securities and Exchange Board of India’s requirement of maintaining a minimum public shareholding of 25%, giving the company until May 2032 to meet the norm.

LIC bonus issue

LIC has fixed May 29 as the record date to determine the eligibility of shareholders for the state-run insurer’s first-ever bonus issue in the ratio of 1:1.
The board had approved the plan in April to issue one fully paid-up equity share of Rs 10 each for every fully paid-up equity share of Rs 10 each held by eligible shareholders as of the record date. The company added that it will issue the bonus shares by capitalising up to Rs 6,325 crore from its reserves and surplus available as of December 31, 2025, which stood at nearly Rs 1.5 lakh crore.
LIC reported a consolidated net profit of Rs 23,467 crore for Q4 of FY26, marking a 23% year-on-year (YoY) rise from the Rs 19,039 crore profit reported in the corresponding quarter of the previous financial year. The firm’s net premium income, meanwhile, rose 12% YoY to Rs 1.65 lakh crore for the quarter under review, compared with Rs 1.48 lakh crore a year earlier.
For the financial year ended March 31, 2026, LIC reported a more than 5% rise in assets under management (AUM) to Rs 57.29 lakh crore, while net profit increased more than 19% year-on-year to Rs 57,419 crore.

With Wednesday’s decline, the stock has snapped a three-day gaining streak on the bourses.

(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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Update: Dominion, NextEra To Merge In Massive All-Stock Deal

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Brighthouse Financial (BHF): A Deal-Driven Opportunity, Not A Long-Term Compounder

Update: Dominion, NextEra To Merge In Massive All-Stock Deal

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'I've given up eating hot meals to pay energy bills to keep my son alive'

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'I've given up eating hot meals to pay energy bills to keep my son alive'

More than half of parents of disabled children and young people are skipping meals to pay their bills.

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Big Stock Market Warning Signs: Red Hot IPOs, Record Margin Debt, Lowest Ever S&P 500 Yield, Meme ETFs

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Big Stock Market Warning Signs: Red Hot IPOs, Record Margin Debt, Lowest Ever S&P 500 Yield, Meme ETFs

Big Stock Market Warning Signs: Red Hot IPOs, Record Margin Debt, Lowest Ever S&P 500 Yield, Meme ETFs

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Zion Oil & Gas: Impressive Return, But It's Not Explainable

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Zion Oil & Gas: Impressive Return, But It's Not Explainable

Zion Oil & Gas: Impressive Return, But It's Not Explainable

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Central Bankers Are Pushing Back Against The 'War? Sh!' Strategy – Why Look-Through May No Longer Be A Good Idea

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Central Bankers Are Pushing Back Against The 'War? Sh!' Strategy - Why Look-Through May No Longer Be A Good Idea

Central Bankers Are Pushing Back Against The 'War? Sh!' Strategy – Why Look-Through May No Longer Be A Good Idea

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Japan stocks higher at close of trade; Nikkei 225 up 0.11%

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Japan stocks higher at close of trade; Nikkei 225 up 0.11%

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Power, Hotels & Chemicals: Dipan Mehta maps out the market’s next big opportunities

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Power, Hotels & Chemicals: Dipan Mehta maps out the market’s next big opportunities
Dipan Mehta, Director, Elixir Equities believes investors should stay selective in the current market environment, with opportunities emerging in sectors linked to power infrastructure, export-oriented manufacturing, and speciality chemicals, while caution remains warranted in overheated pockets such as hospitality and select data centre plays.

Speaking to ET Now, Mehta shared his views on a wide range of sectors including data centres, hotels, tyres, transmission & distribution companies, and speciality chemicals.

KRN Heat Exchangers: Strong Story, Expensive Valuation
On KRN Heat Exchangers, Mehta said the company continues to enjoy strong investor interest because of its exposure to the data centre ecosystem, a theme that remains in sharp focus globally.“See, I think that KRN is one of the best place on the data centre, that is what the street kind of evaluates, which is why it is treated at this kind of a multiple. But the story is pretty much well discovered and, of course, the numbers also will come through pretty decently over the next few quarters but the valuations are a bit challenging and from that point of view a fresh investment does not make sense but existing investors can remain invested.”

He added that India still has very few listed companies offering direct exposure to the data centre opportunity, which explains the premium valuations being assigned to ancillary players supplying equipment and products to the sector.
According to Mehta, investors should watch for corrections before considering fresh entry points.
“At corrections 5-10%, 15% lower one could look at it in a more positive light.”
Coal India: Cheap But Waiting for Growth
Discussing Coal India, Mehta described the stock as inexpensive but lacking meaningful growth momentum.

“And Coal India, see Coal India is cheap, everybody knows that, but look the volumes just do not scale up. I mean, if you look at 10-year volume, 15-year volume, it is just kind of static and it is supposed to be a very important company.”

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He noted that investors may continue treating Coal India as a utility-style dividend play unless the company delivers a structural acceleration in growth.

“If there is something happening in the company materially which results in the growth rates going to like 12%, 13%, 14% or so, then even if the stock price has gone up one could jump into it because then you would have earnings growth and PE derating.”

On the company’s offer-for-sale discount, Mehta said the pricing appeared reasonable given the size of the issue and prevailing market conditions.

“I think that it is okay and 10% discount is not something which investors should not mind. It is a typical discount and maybe retail investors will buy it like in a form of a bit of arbitrage and some investors may also buy this and short in the futures market.”

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Hospitality Rally Still Intact, But Caution Emerging
Mehta acknowledged the remarkable run seen in hotel and hospitality stocks since the pandemic, citing names such as Indian Hotels Company, Lemon Tree Hotels and newer listings in the sector.

“So, by and large hotels have done really well last two-three years, I think since COVID hotels have done very well right from Indian Hotels to even some other newer listings Lemon Tree, Ventive Hospitality, Leela, all of them have done very well.”

However, he warned that geopolitical uncertainties and a possible moderation in travel demand could create near-term pressure on the sector.

“So, I would be a bit cautious. It is like a running train, I would advise remaining invested but from a fresh investment perspective just kind of wait and watch.”

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Mahindra Holidays: A Perplexing Underperformer
Among hospitality names, Mehta singled out Mahindra Holidays & Resorts India as an outlier that has failed to capitalise on the sector’s boom.

“That is what I said that it is very perplexing that the entire hotel industry has gone into great high growth phase but Mahindra Holidays has generally been reporting very poor set of numbers, flattish type of growth rates.”

Despite praising the company’s resort network and locations, he questioned the productivity and monetisation levels being achieved by the business.

“It has got a fabulous business. It has got a fantastic kind of a chain of resorts at the right location, but I do not think the productivity in terms of what they can earn from these resorts has reached its potential level.”

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Tyre Sector: Balkrishna Industries Stands Out
Turning to tyre manufacturers, Mehta said most companies in the sector have delivered healthy results, aided by softer rubber prices, though margin pressure tends to emerge whenever raw material costs rise.

“It is also a highly competitive industry and I would say that it is pretty much well discovered and well valued at this point of time in terms of PE multiples.”

Among the tyre makers, he highlighted Balkrishna Industries as a company worth tracking closely because of its export orientation and strong positioning in off-highway tyres.

“The real company to watch out for over here is Balkrishna. It is a company in which we have invested in so our views could be biased.”

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Mehta believes the depreciation of the rupee could support exporters such as Balkrishna Industries, especially as the company expands its product range and backward integration capabilities.

“So, I am keeping a watch out for it and at some point of time all the efforts of the management should bear fruit and they will go back to that earlier growth rate which they had delivered in the past.”

Power Transmission & Equipment: A Structural Opportunity
One of Mehta’s strongest sectoral calls remains the power transmission and equipment space, where he sees multi-year growth visibility driven by India’s renewable energy ambitions.

Referring to companies such as KEC International, Kalpataru Projects International and Transrail Lighting, he said short-term earnings fluctuations should not distract investors from the long-term opportunity.

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“So massive transmission of power has to take place and India is going from 283 gigawatt to 500 gigawatt over the next three-four years in terms of renewable energy.”

He also highlighted opportunities across transformer makers and HVDC-linked companies, including multinational players such as Hitachi Energy, GE Vernova, Siemens and Bharat Heavy Electricals.

“So, I would say overweight on the entire power equipment industry because massive investments are taking place and are required and it is being pushed by the government as well.”

Speciality Chemicals Emerging as a Preferred Bet
Asked about the most attractive pocket of the market currently, Mehta pointed toward speciality chemicals, particularly export-driven businesses.

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“No, we are looking more and more speciality chemicals and again, as I said, in our investment theme of export oriented businesses that is something which we are seeing kind of breakout quarters taking place over there.”

His comments indicate a growing preference for sectors that can benefit from global demand, currency depreciation, and India’s expanding manufacturing competitiveness.

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Surface Transforms sold out of administration: Combined Authority and staff react to supercar brake firm deal

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New owners hail ‘long-term commercial opportunities in premium and high-performance automotive market’

Surface Transforms in Kirkby

The Surface Transforms plant in Kirkby(Image: Liverpool Echo)

A Merseyside car parts firm which went into administration has now been acquired by a company headed by its former directors who have pledged to recruit additional staff – though not all employees have welcomed the news

Knowsley-based Surface Transforms, which manufactured brakes for supercars, entered administration in April after losing its largest client, leaving dozens of employees without work.

Administrators from Alvarez and Marsal Europe have now confirmed that the majority of the business and assets of Surface Transforms have been purchased by new entity CCST Limited in a £1.4m deal. CCST’s directors include Ian Cleminson and Dr Kevin Johnson, both former directors at Surface Transforms.

Those assets comprise equipment, contracts, intellectual property and the right to use the Surface Transforms name.

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The new firm intends to resume production of ceramic brake discs. In a statement the group said it “will be looking to employ workers in the area with the requisite skill set to assist with this”, reports the Liverpool Echo.

Numerous Surface Transforms employees lost their positions when the business went under, but the ten remaining staff at the company will now move to CCST under Transfer of Undertakings (Protection of Employment) TUPE regulations.

One former employee told the ECHO that when redundant Surface Transforms workers learnt of the sale there was “murder” and “everyone was kicking off.” Staff members revealed they had been encouraged to purchase Surface Transforms shares over the years, with those who had done so now facing the prospect of losing their entire investment. The statement announcing the latest transaction confirms there will be “insufficient realisations to pay any return to shareholders”.

The former employee indicated they had no intention of returning, stating: “If they’d asked me to go back in they know I’d have told them to shove it where the sun don’t shine”.

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Surface Transforms revealed in March that it had lost a contract with General Motors that accounted for more than 80% of its revenue. Directors brought in advisers from Alvarez and Marsal as they fought to either sell or rescue the business, with scores of employees losing their positions.

Announcing the deal for the Surface Transforms assets, Ian Cleminson, chairman of CCST, said: “Surface Transforms built an exceptional reputation for innovation and engineering excellence within the global automotive sector.

“We are pleased to secure the future of the business and through the investor group provide the further investment, operational support and additional skills required for the business to satisfy the clear demand for the product.

“The manufacturing facility in Liverpool will continue operating, with a focus on consistently fulfilling existing customer programmes, stabilising production, and supporting the long-term commercial opportunities in the premium and high-performance automotive market.

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“A thank you to our advisors at Hill Dickinson and DSW for their support during this transaction and also to Liverpool City Region Combined Authority, Knowsley Council and Seybourne Estates for their hard work in securing the future of the business at this site.”

Michael Magnay, joint administrator, added: “This transaction represents the best possible outcome for the business and its stakeholders. We are delighted to have completed a sale that enables the preservation of highly skilled jobs and maintains the future of this important UK manufacturing capability.”

The total value of the deal stands at £1.4m, which the administrators confirmed has been paid in full. Those funds will be directed towards covering administration costs and ultimately settling payments to creditors, though the precise sums owed to creditors have yet to be confirmed.

As part of the agreement, CCST has committed to paying £90,000 to finance giant Close Brothers “in respect of assets financed by Close”. CCST also has six months to decide whether it wants to buy a dynamometer owned by the original Surface Transforms that is held at a third-party site in Germany.

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Back in 2023, Surface Transforms was celebrated as a “world class manufacturer” by Liverpool City Region Mayor Steve Rotheram, whose combined authority extended a £13.2m loan to the firm to support its growth and job creation ambitions.

READ MORE: Supercar brakes firm Surface Transforms loses biggest customer and hires restructuring advisersREAD MORE: Brakes firm Surface Transforms files administration notice and warns on job cuts after GM contract loss

Responding to news of the company’s sale out of administration, a Liverpool City Region Combined Authority spokesperson said: “The Combined Authority notes the sale of Surface Transforms as a going concern and is pleased that some of the workforce will be retained under the deal.

“We believe this is the best possible outcome under challenging circumstances and have engaged fully to help secure a future for this innovative advanced manufacturing factory and its skilled workforce.

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“As custodians of public money, the Combined Authority is extremely diligent and careful when considering investments and enjoys an excellent record of repayment, often generating returns that are reinvested in the local economy, while driving business growth, job creation and regeneration. However, any investment comes with inherent risk. We will seek to recoup as much money as possible from the sale of the company.”

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