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Navy moves to indigenise MiG-29K firepower, invites firms to build aero rockets
Navy moves to indigenise MiG-29K firepower, invites firms to build aero rockets
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Navy moves to indigenise MiG-29K firepower, invites firms to build aero rockets
The Indian rupee is trading around Rs. 95-96 to the dollar in late May 2026, setting fresh record lows. Markets are openly discussing the Rs. 100 threshold. The rupee has weakened in almost every year since 2014 and has lost approximately half its value against the dollar over that period. The end of this currency depreciation is not in sight. The factors that would stop it are not yet visible.The government is acting. State run oil companies have implemented four fuel price hikes in ten days as of May 25, taking petrol in Delhi past Rs. 102 per litre. This is the right and necessary response to the energy cost reality created by the Iran war. Crucially, the Modi government has also done its part on the macroeconomic front, consistently and aggressively reducing the fiscal deficit as a percentage of GDP to maintain structural stability.Yet, the currency pressure persists. The energy price impact has not yet fully reached Indian consumers and supply chains. It is coming.Uday Kotak said it plainly at the CII Annual Business Summit on May 12: "Be ready for tough times rather than waiting for the shock to hit us." He was right.Also read | Manufactured monopoly: How industrial policy is structuring monopolies in IndiaThis is not a time to panic. But it is a time to act. The leaders who move now will have options. Those who wait will not.The Overriding Factor: The Psychology of the PlayersWhy is the currency declining despite strong domestic fiscal discipline? Because exchange rates are not driven by mathematical models alone. The currency decline is highly affected—and accelerated—by the psychology of all players engaged in this endeavor.Currency movements are deeply behavioral. When a currency visualizes a downward trend, psychology shifts from calculation to self-protection and speculation. Every player in the ecosystem operates under this psychological weight:Corporate CFOs and Treasurers: Instead of hedging normally, they rush to cover future dollar liabilities early, hoarding hard currency and inadvertently worsening the scarcity.Foreign Investors: They begin to judge their returns not by the quality of Indian business operations, but by the eroding value of the conversion rate.Importers and Exporters: Importers advance their payments to avoid paying more tomorrow; exporters delay converting their dollar earnings back into rupees, waiting for a "better" rate. This collective psychology creates a self-fulfilling prophecy.Investors, CFOs, and FDI decision makers extrapolate what is happening now into the future. When they see a currency that has lost approximately half its value since 2014 with no clear floor in sight, their psychological pivot alters market realities.Also read | India tightens checks on overseas flows as currency pressure mounts, sources sayThe cascading timeline of Foreign Portfolio Investor (FPI) equity behavior perfectly mirrors this psychological shift from rational evaluation to systemic risk aversion:2024 (The Calculation Phase): Rupee averages Rs. 83-84. FPI flows remain positive (+$12 billion) as investors trade on strong domestic corporate earnings.2025 (The Self-Protection Phase): Rupee slides past Rs. 89. Collective psychology shifts to risk mitigation. FPIs withdraw a record $18.4 billion from Indian equities—the largest annual equity outflow on record.Early 2026 (The Capitulation Phase): Rupee breaks past Rs. 95. Sentiment turns into an outright exit strategy. In the first four months of 2026 alone, outflows have already reached $19.1 billion, completely bypassing the entire previous year's record loss in a fraction of the time.FDI agreements are being signed, but capital is delayed because players are psychologically hesitant to deploy funds into a depreciating asset.The Trap of Hard Currency Debt: A Broken Business Model There is a highly significant and dangerous phenomenon unfolding in India today that requires immediate exposure. For years, a specific class of Indian corporates adopted a regular strategy of borrowing heavily in hard currency (External Commercial Borrowings, or ECBs). Lured by low nominal global interest rates, several of these companies over borrowed, treating cheap dollar debt as a permanent structural advantage.Today, that strategy has become a trap. The compounding effect of a depreciating rupee, skyrocketing hedging costs, and brutal refinancing realities is fundamentally breaking their business models.Consider the mechanics of this crisis:The Hedging Penalty: Leaving dollar debt unhedged is now corporate roulette. However, buying hedges at current rupee levels has become structurally prohibitive. The cost of protection completely wipes out any interest rate advantage.The Refinancing Wall: Billions in foreign debt are coming due. These over-borrowed companies must now refinance their liabilities at a time when the rupee value has materially deteriorated. They are effectively forced to borrow far more rupees just to pay back the same amount of original dollars.The Crushing Cost of Rupee Capital: As these companies try to pivot back to domestic lenders, they face a severe escalation in their rupee cost of capital.The Growth Verdict: When your cost of capital spikes and your cash flows are consumed by servicing legacy dollar debt, future growth stops. Capital expenditure (CapEx) plans are being frozen. These companies can no longer invest in innovation, capacity, or market expansion. Their business model shifts overnight from aggressive value creation to basic survival. Boards must realize that this is not a temporary treasury headache; it is a structural threat to the company’s future viability.India's forex reserves stand at approximately 10 to 11 months of import cover. Substantial, but being actively deployed to defend the currency. Some imports are non-negotiable: oil, critical inputs, components. These will now cost more. That cost passes through every supply chain.Six Actions for Business Leaders1. Protect your cash and liquidity first. This is the most immediate priority. Map your cash position today. Identify every source of liquidity across the next twelve months. Stress-test it at Rs. 100 and beyond. Which receivables are at risk? Which credit lines are rupee-denominated and which are not? Companies that run into a cash crisis during a currency depreciation cycle lose their options entirely. The CFO must own this analysis and present it to the board within days, not weeks.2. Act now on your foreign currency borrowings, hedging, and refinancing. Do not assume the rupee will recover to Rs. 80. Analyse your full foreign currency exposure across the next three years: every loan, every refinancing date, every hedging contract, every procurement price denominated in foreign currency. Hard currency loans now face refinancing at rupee values that have materially deteriorated. Model every scenario at Rs. 100 and beyond. Your CFO, treasury, and procurement team must be aligned on one instruction: do not run into a liquidity crisis. This analysis must happen now, not at the next quarterly review.3. Build a war room. Most companies have begun thinking about war rooms for supply chain disruptions. Expand the mandate. Currency exposure belongs in the same room. Which of your costs are dollar or euro denominated? Which of your revenues are rupee denominated? Where is the mismatch? What is your break-even exchange rate? If you do not have clear answers today, you are exposed. The war room is not a committee. It is a real-time decision environment with live data, a clear owner, and the authority to act.4. Use the currency depreciation advantage: double your export salesforce. A weaker rupee makes Indian exports more competitive. This window will not stay open indefinitely. Double the salesforce in your export markets now. Use this period to upgrade quality, improve service delivery, and build customer relationships that will last beyond the currency advantage. Indian exporters who invest in capability during this period will emerge stronger regardless of what the rupee does next. Those who simply ride the price advantage without building the underlying business will lose when conditions change.5. Watch your stock and your sector. Banks and financial institutions should already be on high alert. Companies with large foreign currency exposure will see pressure on their financials. Some stock prices are already reflecting this. Go through your sector company by company. Identify who is most exposed. If you are an investor or a lender, this analysis is not optional. The combination of currency depreciation, rising oil prices, and FPI outflows creates a compounding pressure that will surface in earnings before it surfaces in headlines.6. Cut costs aggressively. AI will help. There has never been more urgency to reduce costs than now. And there has never been a better tool to do it. AI can cut most operational costs by as much as 30% across functions: procurement, finance, customer service, logistics, and compliance. McKinsey data confirms companies adopting AI and automation reduce operational costs by 20 to 30 percent. This is not a future opportunity. It is a present imperative. Every rupee of cost removed through AI is a rupee that does not need to be recovered through revenue in a deteriorating currency environment. Start now with your highest-cost functions.The CFO as CaptainCurrency risk is a cash flow risk. Every function that touches foreign currency—procurement, treasury, sales, capex planning— must now report into a single coordinating authority. That authority is the CFO. This is not about hierarchy. It is about clarity. In a currency crisis, fragmented decision-making is as dangerous as wrong decision making. One captain. One consolidated view. Weekly reviews minimum.The Bigger PictureThis currency depreciation is a structural signal, not a cyclical one. India's economy must move from a cheap labour advantage to genuine global value creation.The companies that will survive and thrive are those building products and services that command premium prices in global markets. The rupee's weakness is a reminder that competing on cost alone has limits.The recently concluded trade agreements are a genuine opportunity. Execute them with full force. Build the export pipelines. Add the sales capacity.The businesses that move now, with discipline and clarity, will manage market psychology, navigate the debt trap, and define the next chapter of Indian industry.The shock is coming. Prepare before it arrives.Ram Charan is the author of China’s 90% model. It is restricting India’s industrial progress. Former Director of Hindalco and Muyuan (China).
United Launch Alliance Atlas V rocket with NASA's MAVEN spacecraft (File)
xAI is part of Musk's rocket and space exploration company SpaceX.
An IRGC-linked operative, Mohammad Baqer Saad Dawood Al-Saadi, pleaded not guilty to terrorism charges in Manhattan, accused of plotting to assassinate Ivanka Trump and orchestrating global attacks. He claimed innocence, stating, "Our children are being killed by your rockets." The indictment details alleged bombings and planned attacks, with potential life sentences.
Lebanon was dragged into the Middle East war on March 2 when Hezbollah fired rockets towards Israel.
Shares of Indian IT companies, including heavyweights Infosys, Tech Mahindra, TCS and Persistent Systems jumped up to 5% on Monday as multiple tailwinds boosted investor sentiment, pushing the Nifty IT index up around 3% to emerge as the top sectoral gainer.The index rose to 29,905 in the morning trading hours of Monday, extending sharp gains for the second consecutive session. The index has now jumped nearly 4% over two days.The sharp surge in IT stocks comes after a significant decline earlier this year, following the launch of plug-ins for AI startup Anthropic's Claude Cowork agent, which could automate tasks across legal, sales, marketing, and data analysis. "We call it the ‘SaaSpocalypse,’ an apocalypse for software-as-a-service stocks," Bloomberg quoted Jeffrey Favuzza from the equity trading desk at Jefferies as saying.While doomsday prophets continue to debate the future of IT companies following fresh AI advancements, investors were quick to analyse the cheap valuations, leading to some pockets of buying. Nuvama, in its note, had highlighted that the IT sector is setting up for a powerful comeback, not a collapse after the brutal AI-driven selloff.“We see no existential threat from Gen-AI,” the brokerage writes, arguing that enterprises will still need a “system integrator” to customise plug-and-play AI and software tools for their highly complex, brownfield technology stacks and to take ownership when “the system fails at 2 am.”Also read: Reports of my death are greatly exaggerated! Why Nuvama is screaming buy on all top 10 IT stocksThe latest round of buying also comes ahead of the Federal Reserve’s policy meeting next month, which would be the first under Chair Kevin Warsh. US President Donald Trump had selected Warsh partly on expectations that he would support lower borrowing costs to stimulate economic growth. However, rising inflation raised questions over the possibility of lowering rates.Technical view on Nifty ITThe Nifty IT index has witnessed a strong rebound after taking support near its crucial support zone, indicating the possibility of a short-term recovery in the sector, Kunal Kamble, Senior Technical Research Analyst at Bonanza had said. “On the hourly time frame, the index is currently forming an inverse Head and Shoulders pattern. A decisive breakout is seen above the neckline of this pattern and has triggered further upside momentum in the index. Such a move is likely to positively impact heavyweight IT stocks that share a high correlation with the index, including Infosys, Tata Consultancy Services, and HCL Technologies,” he added.Technically, the analyst had suggested that if the index manages to sustain above the 29,650 mark, it may open the door for a further recovery towards the 31,280 zone in the near term. However, he added that the current price action appears to be a retracement within the broader trend rather than a complete trend reversal. Therefore, traders should approach the sector with a cautious outlook.“Aggressive or high-risk traders may consider short-term trading opportunities in select IT counters, provided the index maintains strength above key support levels. On the downside, a breach below 28,800 could once again invite selling pressure across the Nifty IT index and associated IT stocks, potentially weakening the ongoing recovery structure,” he said.IT stocksPersistent Systems shares were the top gainers on the Nifty IT index, jumping nearly 5%. Infosys shares followed, surging nearly 4%. Mphasis, Tech Mahindra, LTI Mindtree and Coforge shares gained over 3% each.Also read: Wockhardt shares rocket 19% after FDA approval for antibiotic targeting drug-resistant infectionsTata Consultancy Services (TCS) and OFSS shares jumped around 2% each, while HCL Technologies and Wipro shares gained around 1% each.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Shares of Wockhardt soared as much as 19% to their day's high of Rs 2,420 on the BSE on Monday after the company announced that the U.S. Food and Drug Administration (FDA) has approved ZAYNICH (cefepime and zidebactam), a novel intravenous antibiotic for the treatment of adults with complicated urinary tract infections (UTI), including pyelonephritis, caused by susceptible Gram-negative pathogens.According to the company, ZAYNICH combines the fourth-generation cephalosporin cefepime with zidebactam and is designed to target multiple penicillin-binding proteins simultaneously. The antibiotic had earlier received Qualified Infectious Disease Product (QIDP) and Fast Track designations from the FDA.The approval comes at a time when antimicrobial resistance remains a major healthcare challenge. Wockhardt cited data indicating that more than 2.8 million antimicrobial-resistant infections occur annually in the United States, resulting in over 35,000 deaths each year. The company also noted that complicated urinary tract infections account for more than 6,00,000 hospitalisations annually in the U.S., with a growing proportion linked to antimicrobial-resistant and multidrug-resistant bacteria.The FDA's decision was based in part on results from the Phase 3 ENHANCE-1 study, a randomised, double-blind, multicentre trial that evaluated the efficacy, safety and tolerability of ZAYNICH against meropenem in hospitalised adults with complicated urinary tract infections or acute pyelonephritis.In the study, ZAYNICH achieved a composite clinical cure and microbiological response rate of 89% at the test-of-cure visit, compared with 68.4% for meropenem. The treatment difference was 20.6% with a 95% confidence interval of 12.3 to 29.5. The company said the drug was generally well tolerated during the trial.The ENHANCE-1 study enrolled 530 patients across 64 sites spanning the United States, Europe, Latin America, China and India.Wockhardt stated that ZAYNICH targets penicillin-binding proteins PBP 1a/b, 2 and 3 simultaneously, a mechanism that it says provides bactericidal activity against multidrug-resistant Gram-negative bacteria for which treatment options remain limited.The company also disclosed that ZAYNICH received approval from the Drugs Controller General of India (DCGI) on May 27, 2026. In addition, Wockhardt has submitted a Marketing Authorisation Application (MAA) to the European Medicines Agency for the antibiotic.Sensex, Nifty today: Catch all the LIVE stock market action here (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
BEIJING: Oil prices rose more than 2% in early trading on Monday after Israel ordered troops to move further into Lebanon in the battle with the Iranian-backed Hezbollah militant group, despite a ceasefire announced more than six weeks ago. U.S. crude futures rose $2.17 or 2.48% to $89.53 a barrel as of 2312 GMT (Sunday). Brent futures rose $1.93 or 2.12% to $93.05 a barrel. The stepped-up fighting, coming just after the U.S. hosted Israeli-Lebanon peace talks in Washington on Friday, dimmed expectations that the U.S. and Iran could soon announce an extension to their ceasefire agreement, which had driven Brent and WTI to settle up 1.8% and 1.7%, respectively, on Friday. The Israel-Lebanon conflict has been the broadest spillover of the Iran war. It started on March 2 when Hezbollah began firing rockets and drones across the border into Israel to back its ally Iran. The two sides reached a ceasefire in mid-April but have continued to trade fire. U.S. President Donald Trump said on Friday that he would soon decide on a proposed deal to extend a ceasefire with Iran announced in early April, giving negotiators more time to seek a permanent end to the conflict and find a solution to the underlying dispute over Iran's nuclear program. Israel would be key to any such deal, and Iran has also said repeatedly that Hezbollah must be included. Meanwhile, concerns are rising about mines in key oil and gas shipping lane the Strait of Hormuz, IG analyst Tony Sycamore said in a note. That could slow the process of reopening the strait and mean that relief comes more slowly for the oil market even after it is reopened. "Even if an agreement is reached, it won't deliver a flood of supply," Sycamore said. An Axios reporter said on X on Friday that Iran had dropped more mines in the strait earlier in the week, shortly after U.S. Defense Secretary Pete Hegseth said that attempts to lay more mines would be a violation of the ceasefire. Hormuz is a conduit for about a fifth of global oil and gas flows and Iran has effectively closed it since the conflict began with U.S. and Israeli strikes in February. Concerns over supply outweighed lacklustre economic data from China over the weekend, which showed stalling factory activity. This added to concerns the world's second-largest economy is losing momentum, weighed down by a contraction in exports and cost pressures.
The New Glenn rocket will remain grounded while the investigation is conducted.
US President Donald Trump will only make a peace deal with Iran if it meets all of his conditions, a White House official told AFP on Friday, as questions swirled about the state of negotiations to end the war.The White House had indicated Trump was close to a decision on a potential deal, even as Tehran insisted there was still "no final agreement" on ending the Middle East conflict.Also read: To the Situation Room, now! With new message, Trump stirs Iran cauldron again An Iranian state media report also rebutted several key elements of Trump's characterization of the deal, with sources calling his remarks a "mixture of truth and lies."US sources had told AFP the deal was waiting on Trump's sign-off following weeks of halting negotiations over a conflict that has engulfed the Middle East and shaken the global economy. Trump attended a two-hour meeting in the White House Situation Room on Friday but did not reach a decision."President Trump will only make a deal that is good for America and satisfies his red lines," a White House official told AFP afterward. "Iran can never possess a nuclear weapon," the official added.Trump had announced the meeting in a lengthy social media post, reiterating long-held demands that Iran agree never to develop nuclear weapons and reopen the vital Strait of Hormuz shipping lane. Iranian foreign ministry spokesman Esmaeil Baqaei pushed back, telling state media that the Islamic republic "said goodbye to the language of 'must' 47 years ago." Exchanges of messages were continuing, he added, but "no final agreement has been reached yet."In a phone call with the Emir of Qatar, Iranian President Masoud Pezeshkian said Iran was ready to achieve a "dignified framework" to end the war, according to state news agency IRNA.In his post, Trump said Tehran would remove mines from the Strait of Hormuz and end its blockade of the waterway with "no tolls," while the US would lift its parallel blockade of Iranian ports. The two countries would also coordinate on removing and destroying Iran's enriched uranium, he said, adding that "no money will be exchanged, until further notice."Iran's Fars news agency, however, cited sources as saying Tehran was demanding "the immediate release of $12 billion in frozen Iranian assets" before moving to the next phase of negotiations. On the toll-free reopening of Hormuz, the sources said "no such clause appears in the text of the agreement," while Trump's comment on destroying Iran's nuclear material "is fundamentally baseless."Also read: ‘Tehran said goodbye to “must” 47 years ago’: Iran rejects Trump’s claims of imminent dealBaqaei also told state TV there were currently "no negotiations" taking place on Iran's nuclear program, as Iran's top diplomat suggested the US was holding up a deal with its approach to the talks.'Telling the truth'? Ali, a resident of the city of Tonekabon north of Tehran, said that whatever the deal was, there would likely be more strife to come."Both sides are speaking in a way that keeps their supporters satisfied. It's not clear who is telling the truth," the 49-year-old said.Hopes of an agreement had risen on Thursday after US officials voiced optimism about the diplomatic progress.Energy markets have whipsawed this week as investors parse the chances of an agreement that could potentially resume normal shipping through the crucial Strait of Hormuz.Washington and Tehran have accused each other of violating the truce in and around the strait as recently as this week, with US strikes on the southern Iranian port of Bandar Abbas countered by retaliatory Iranian fire.Iranian state TV said Friday that 24 ships had transited the strait in the past 24 hours, in coordination with the Revolutionary Guards and the foreign ministry.But it warned that "ships from hostile countries face a severe response" from Iran's military.Lebanon fighting On the war's Lebanon front, Israeli Prime Minister Benjamin Netanyahu said Friday that his country's forces had pushed deeper inside Lebanon, while Iran-backed Lebanese group Hezbollah claimed responsibility for a series of drone attacks on military targets in northern Israel, including troop gatherings and barracks.It also said its forces were attacking Israeli troops trying to advance in the area of the medieval Beaufort fortress, near the city of Nabatieh.The attacks came as Israeli and Lebanese military delegations held security talks in Washington, which were called "productive" by Elbridge Colby, the Pentagon's second-in-command.Israel kept up its heavy bombardment of southern Lebanon, where the Lebanese health ministry said a rescuer was among the 11 killed.A ceasefire between Israel and Hezbollah was supposed to have taken effect on April 17, but has never been observed.Both sides accuse each other of violating it and justify their attacks by the other camp's alleged breaches.Lebanon was drawn into the war in early March when Hezbollah launched rockets at Israel over the killing of Iran's supreme leader in US-Israeli attacks, prompting Israeli strikes and a ground invasion.
The shares of Ola Electric Mobility surged nearly 9% to hit their highest level in more than four months on Friday, recovering around 93% from March lows.The shares of the EV-scooter maker jumped to Rs 42.88 apiece on the NSE on Friday. This is the highest level seen by the stock since January 7 this year. The stock has staged a strong recovery after hitting an all-time low of Rs 22.25 apiece on March 16 this year.Despite the latest recovery, the stock remains far away from its post-IPO all-time high level of Rs 157.40 apiece, which it hit days after its market debut in August, 2024.Ola Electric Q4 earningsOla Electric shares have gained more than 17% since releasing its Q4 results last week. The Bhavish Aggarwal-led company last Wednesday reported a consolidated net loss of Rs 500 crore for the January-March quarter of the financial year 2026, down 42.5% from the Rs 870 crore net loss reported in the corresponding quarter of the previous financial year.While Ola Electric has seen some sequential volume improvement (March-April retails at 10,000-12,000/month vs around 8,000/month on average from November 2025 to January 2026) and market share (8-9% in April 2026/May 2026; 5% in Q4 FY26), Emkay attributes the volume growth to the currently better placed production capacity, share gains in the more price-sensitive northern markets, and electric two wheeler incumbents along with Ather operating at peak utilization amid strong demand."Ola is adopting several measures to improve execution, cut costs/conserve cash, and improve brand perception (service-related issues have started resolving). We believe this could be a difficult, long-drawn-out process, especially due to greater focus by incumbents + scale-up at Ather. Additionally, new capacities coming onstream for incumbents/Ather in H2 FY26 would reintroduce competition in the industry structure," the brokerage said.Given the current dynamics, Emkay believes that Ola's recovery in volume and market share remains monitorable. “We increase FY27E volume by around 10%, given the strong momentum in the underlying E-2W industry,” it added.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Iran's threats to close the Strait of Hormuz with kamikaze boats pose a major global shipping risk. Despite US efforts to neutralize Iran's navy, its small, fast, and hard-to-target mosquito boats, armed with rockets and missiles, remain a significant menace.
Wockhardt shares rallied sharply on Friday, surging 7.87% to hit Rs 1,910.50 after the pharmaceutical company received a major regulatory boost for its breakthrough antibiotic, Zaynich. Notably, the stock has climbed nearly 12% in just the last two trading sessions, reflecting strong investor optimism following the development.In an exchange filing, Wockhardt announced that the Central Drugs Standard Control Organisation (CDSCO) has approved the import and marketing of its indigenously discovered and developed first-in-class antibiotic, Zaynich (Zidebactam/Cefepime), in India.The approval covers the treatment of adult patients suffering from complicated urinary tract infections (cUTI), including pyelonephritis, as well as cases involving concurrent Gram-negative bacteremia.The nod is backed by strong results from the pivotal ENHANCE-1 Phase 3 clinical trial, a multinational, randomised, double-blind study comparing Zaynich with Meropenem — one of the widely used antibiotics for severe infections.The results significantly favoured Zaynich. The study showed that 89% of patients treated with Zaynich achieved clinical cure and microbiological eradication, compared with 68.4% in the Meropenem arm, delivering a treatment advantage of 20.6%.Even more striking were the outcomes in high-risk bacteremia patients, where Zaynich posted an 89% response rate versus just 44% for Meropenem, highlighting its potential as a game-changing therapy in severe drug-resistant infections.The company stated that Zaynich could emerge as a critical weapon against carbapenem-resistant infections — an area where existing treatment options like colistin and polymyxins often face limitations due to toxicity and weaker efficacy. Importantly, the drug is designed to combat metallo-β-lactamase (MBL)-mediated resistance, one of the toughest and most widespread antibiotic resistance mechanisms in India.Wockhardt Shares: Price trend and technical outlookWockhardt shares have surged nearly 27% over the past month, while the stock has skyrocketed an astounding 946% in the last three years, turning investor wealth nearly 10-fold during the period. The company currently commands a market capitalisation of around Rs 28,777 crore.On the technical front, Trendlyne data indicates that Wockhardt’s 14-day Relative Strength Index (RSI) stands at 72.3. An RSI above 70 is generally considered overbought, suggesting the stock could witness some profit-booking or a short-term pullback after the recent sharp rally.However, the overall trend remains firmly bullish, with the stock trading above all 8 out of 8 key simple moving averages (SMAs), indicating sustained strength in momentum.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
A Blue Origin New Glenn rocket exploded during a ground engine test at Florida's Cape Canaveral Space Force Station, marking a major setback for Jeff Bezos' space company.
In a dramatic turn of events, Blue Origin's New Glenn rocket was engulfed in flames during a launch pad catastrophe at Cape Canaveral. Fortunately, founder Jeff Bezos announced that all team members are safe, with an investigation already underway.
Video from the incident shows smoke emerging from beneath the rocket before it fully combusts
Jeff Bezos' space firm Blue Origin said on Thursday it experienced an anomaly during a hot-fire test, as visuals on social media showed its New Glenn rocket explode in a fireball.A hot-fire test is where a rocket engine is fired up while anchored to the ground. All personnel are accounted for, Blue Origin said in a post on X.— SpaceflightNow (@SpaceflightNow) Blue Origin has spent billions of dollars and roughly a decade developing New Glenn, a rocket 29-stories high with a reusable first stage meant to compete with SpaceX's Falcon fleet and its more powerful Starship.The Federal Aviation Administration did not immediately respond to a Reuters request for comment.
Chicago Whitson hot-spot Munetaka Murakami remains one of the sport’s fastest-rising international stars in 2026. The Japanese strongman’s big move to MLB saw his income skyrocket with his salary, endorsements and popularity abroad. His notable Tokyo Yakult Swallows history, coupled with fresh Chicago White Sox achievement, has fans rapt attention on his increasing net worth, investments and lifestyle decisions.