Stock Radar: Pennar Industries breaks out of 22-week consolidation; time to buy? Check target & stop loss for long positions
Pennar Industries Ltd, part of the industrial products industry, witnessed a breakout from 22-week consolidation on the weekly charts in May 2025 which helped the stock to hit a fresh record high.Short-term traders can look to buy the stock for a target of Rs 250 in the next few weeks, suggest experts.The stock underwent consolidation after it hit a swing high of Rs 227 on December 6, 2024, but it failed to hold the momentum.It took support
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Time of India
37 minutes ago
- Time of India
From shopfloor to C-suite: Mahindra offers Diwali Esops to 14,000 employees
The Mahindra Group has announced a one-time employee stock ownership plan (Esop) grant for 12,000-14,000 employees, including shop floor workers for the first time ever. The move across three core companies—Mahindra & Mahindra (auto and farm sector), Mahindra Electric Automobile and Mahindra Last Mile Mobility —comes amid surging sales and profit on the back of hit products such as the Thar driving the M&M stock up more than 12 times in five years. Mahindra has also overtaken Hyundai to become the country's second biggest manufacturer of passenger vehicles, thanks to its range of SUVs. Explore courses from Top Institutes in Please select course: Select a Course Category Project Management Product Management MBA Data Science Healthcare healthcare Leadership Others Technology Artificial Intelligence Finance Data Analytics Operations Management Digital Marketing others Degree CXO MCA Design Thinking Public Policy Management Data Science Cybersecurity PGDM Skills you'll gain: Portfolio Management Project Planning & Risk Analysis Strategic Project/Portfolio Selection Adaptive & Agile Project Management Duration: 6 Months IIT Delhi Certificate Programme in Project Management Starts on May 30, 2024 Get Details Skills you'll gain: Project Planning & Governance Agile Software Development Practices Project Management Tools & Software Techniques Scrum Framework Duration: 12 Weeks Indian School of Business Certificate Programme in IT Project Management Starts on Jun 20, 2024 Get Details The Esops will help broad-based wealth creation, the tractor-to-technology conglomerate said in an internal circular. ET has seen the note. It did not reveal how many shares the group will earmark for this purpose, but people in the know estimate the total outflow to be in the range of Rs 400-450 crore. While granting Esops to keep employees motivated is not unusual, this could be the first time a large Indian conglomerate extends these benefits to shopfloor workers. The Esops, structured as restricted stock units (RSUs). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Indonesia: Unsold Sofas at Bargain Prices (Prices May Surprise You) Sofas | Search Ads Search Now Undo Productivity Boost? The grant is being positioned as a reward for long-term contribution and a tool to align employees with value creation. 'This special grant reflects the organisation's appreciation for your efforts, makes you a co-owner of this enterprise, and gives you a share in the value that you have helped co-create,' said Anish Shah, group chief executive and managing director of M&M, in a note to employees. Live Events Rajiv Agarwal, department chair for strategy at leading B-school SPJMR, said with this move, Mahindra is fostering a productive environment, where labour participation drives higher overall productivity. 'This approach not only supports the company's growth but also allows employees to benefit from the rise in the stock price,' Agarwal said. 'It's a smart strategy — compensating workers not just with their salaries for the hours they work, but also rewarding them when the company does well. This dual benefit truly aligns employees' interests with the company's success.' The Esop scheme comes on the back of a sharp surge in valuations of Mahindra Electric and Mahindra Last Mile as well. Both have seen over 10x growth in the past five years, supported by strong execution, strategic focus and new business momentum. M&M's shares closed at Rs 3,160 on the BSE on Friday, down 1.35% from its previous close. Its market cap stood at Rs 3,92,925 crore. The Esop shares will be granted to employees on permanent payrolls with at least 12 months' tenure in the group as of the announcement date. Depending on their income tax bracket, the beneficiaries may have to pay tax on the profits they make when they sell their Esop shares. However, shopfloor workers who earn below the taxable income limit won't have to pay any tax on these gains. The Mahindra Group communication credited executive chairman Anand Mahindra and executive director Rajesh Jejurikar for steering the transformation, while thanking employees' families and retired leaders for their support.
Time of India
41 minutes ago
- Time of India
AMC's poor planning halts city's longest flyover
Ahmedabad: In what has become a recurring pattern of poor planning and execution, the Ahmedabad Municipal Corporation (AMC) has once again stumbled in delivering critical infrastructure. This time its the city's longest flyover, the 2.5-km Naroda Patiya flyover, which now mired in delays due to unresolved land and environmental clearance issues. Progress on the project, hailed as a major development for eastern Ahmedabad, has been halted by the forest department, which has refused to allow further construction until compensation for 1.3 hectares of forest land is provided. In addition, 143 trees located on the designated land cannot be felled until re-plantation land is allocated, in accordance with state forest regulations. This bureaucratic stand-off, stemming from the AMC's failure to secure the necessary clearances before starting construction, now threatens to derail the project timeline and inconvenience thousands of commuters. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad The flyover — from Naroda Patiya to Galaxy Char Rasta — was approved on Aug 23, 2021, by the AMC's road and building committee at an estimated cost of Rs 197.98 crore. It was conceived as a merger of three earlier proposed flyovers in the eastern corridor. Construction began on July 17, 2023, with a 36-month deadline set for July 2026. But as of March 1, 2025, only 36.8% of the work had been completed. "The bridge alignment cuts through forest land near Devi Cinema, and without fulfilling the re-plantation and land compensation clauses, the forest department has rightly refused to permit further work," an AMC official admitted. While work continues on other sections, the deadlock over forest land casts serious doubt on whether the project will be completed on time. The Naroda Patiya debacle is far from an isolated case. Over the past decade, AMC and AUDA (Ahmedabad Urban Development Authority) have routinely failed to deliver flyovers, underpasses, and railway bridges on schedule. Cost overruns, design changes mid-construction, and inter-agency coordination failures plague nearly every project. The Income Tax flyover was delayed due to post-approval design changes, inflating costs by Rs 10 crore. The Ranip GST flyover was held up for two years due to issues with railway land acquisition. The Ajit Mill Junction flyover faced a year-long delay due to flawed design. The Pallav Crossroads and Dahegam Circle flyovers were both delayed by over two years due to utility and land clearance hurdles. The Panjrapol flyover suffered a late start and ongoing delays due to changes in direction and design. Each project follows a similar script — work begins with much fanfare, foreseeable issues are overlooked, deadlines are missed, budgets balloon, and commuters are left to suffer the consequences. Box: Sinking credibility Infrastructure Start Date Proposed Duration Progress (%) Sattadhar Flyover Bridge Aug 28, 2023 26 months 55 Naroda Patiya Junction Flyover July 17, 2023 36 months 37 Bootbhawani Railway Overbridge Aug 8, 2023 26 months 53 Makarba-SG Highway Bridge Sep 30, 2022 26 months 89 Hebatpur Railway Overbridge Feb 13, 2023 26 months 60 Vadaj Junction Flyover Bridge July 28, 2023 30 months 23 Panjrapol Junction Flyover Bridge Mar 16, 2024 26 months 0.75 Vandemataram Railway Underpass Mar 16, 2024 18 months 2 Ellisbridge Repair and Rehabilitation Sep 11, 2024 12 months 26
Time of India
an hour ago
- Time of India
McDonald's to invest $100 M in new global office in Hyderabad in next 2 years
1 2 Hyderabad: American quick service restaurant (QSR) giant McDonald's has rustled up plans to invest $100 million (approx. Rs 875 crore) in its new global office in Hyderabad over the next couple of years and hire around 2,000 techies by 2027, a top official of the company said on Friday. "The investment this year and next (2026) will be around $100 million, including the capex cost," Deshant Kaila, head of global business services (GBS) operations, McDonald's, told TOI on the sidelines of the GCC X Hyderabad summit by organised by HYSEA and 3AI. "We just started off three months ago, and we are about 100 people right now. By the end of the year, we'll be 500. Our goal is to grow much larger in the next one and a half years," Kaila said, pointing out that the company aims to expand its workforce to about 2,000 employees by early 2027, with potential for further growth. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad Kaila said the new global office in Hyderabad will not just serve as a hub for various corporate functions, including global finance and people services, but will also focus on developing the company's enterprise platform and global technology infrastructure, including cybersecurity and enterprise data architecture. It will also play a crucial role in building capabilities in data governance, data insights, data engineering, and AI. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Best Method for a Flat Stomach After 50 (It's Genius!) Lulutox Undo In fact, the facility is already working on solving key problems using emerging technologies such as artificial intelligence (AI) and data analytics to drive customer personalisation and loyalty. "Today, if you have a McDonald's app in India, it does not work anywhere else. We aim to enable a unified app globally, which requires significant effort across enterprise platforms and data processes," he said, adding that it will help McDonald's offer personalised experiences and loyalty programs to its customers worldwide. Dr Durga Prakash, head of technology (global offices), McDonald's, said global tech teams are already driving a first-of-its-kind edge AI transformation that was rolled out in 400 restaurants globally about a year ago. "The technology involves a vision camera and AI algorithm that ensures order components (ingredients) are correctly put together before the order reaches the customer to pre-empt errors and improve order efficiency as part of a broader strategy to connect 40,000 restaurants globally ," Prakash said. , adding that they are also working on driving internet connected kitchens.
