
2k asst profs to be recruited by year-end: Higher edu min
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He was addressing a gathering at Devi Ahilya Vishwavidyalaya (DAVV) during the inauguration of its 34th teaching department—School of Design—and a new research and consultancy lab established by IET alumni.
Parmar said the recruitment is being conducted through the
(MPPSC), and more than 1,500 appointments are already in progress. "A fresh notification has been issued with a large number of vacancies, and in some subjects, exams have already been conducted.
Further recruitment will follow soon," he said. He added that the National Education Policy (NEP) is not only student-centric but also faculty-focused and is bringing significant change across the country. He also added that NEP introduced significant curriculum reforms, including the inclusion of Bharatiya Gyan Parampara (Indian knowledge systems) in the first-year curriculum.
The newly launched School of Design will offer a Bachelor of Design programme from the current academic session, with classes expected to begin in the third week of August.
DAVV Vice Chancellor Prof. Rakesh Singhai said courses related to fashion technology would be added soon, and a School of Architecture is also in the pipeline. He added that DAVV is placing a strong emphasis on research, with recent grants of Rs.1 crore and Rs.80 lakh sanctioned to faculty members.
The event also marked the launch of a new Research and Consultancy Lab in the Civil Engineering Department, funded by the IET alumni association.
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The lab will offer advanced facilities for research and consultancy projects.
Along with a large number of students, MLA Madhu Verma, DAVV Registrar Prajwal Khare, IET Director Dr. Pratosh Bansal, Executive Council members, and senior faculty were a part of the inauguration ceremony.
During the event, minister Parmar made a crucial statement regarding faculty recruitment, saying, "Universities have been instructed to fill vacant teaching posts. If they fail to do so, we will initiate recruitment through MPPSC here as well." This indicates a potential policy shift in state universities, where recruitment has traditionally been conducted independently through vice chancellors and Raj Bhavan-approved panels.
If MPPSC takes over recruitment in universities too, it could mark a significant structural change.
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Indian Express
30 minutes ago
- Indian Express
Omar seeks Centre's ‘urgent' intervention after Ramban resident's abduction in Niger
Jammu and Kashmir Chief Minister Omar Abdullah Sunday sought the central government's intervention in the release of a Ramban resident abducted by militants from Dosso region in the West African country of Niger. In a tweet on his official handle on X, Omar sought the 'urgent intervention' of the External Affairs Minister S. Jaishankar and the Ministry of External Affairs to ensure Ranjeet Singh's return. While Ranjeet was abducted, two other Indian migrants – including one from Jharkhand – were killed on July 15 after some gunmen attacked their worksite some 30 km from the country's capital, Niamey. 'The Chief Minister has expressed concern over the abduction of Ranjeet Singh, a resident of Ramban, in Niger. He urges the Hon'ble EAM @DrSJaishankar and #MEAIndia to urgently intervene to secure Ranjeet's safe and swift return,' a post on X by the Chief Minister's Office said. Omar's tweet followed a similar appeal by Ranjeet's wife Sheela Devi. A senior safety officer at an integrated power transmission and distribution company in Niger, Ranjeet was at the worksite during the attack. At home in remote Chakka Kundi village in Ramban, Ranjeet's old parents Mohan Lal and Sadhu Devi are waiting for him to return. Talking to the media during the day, Sheela Devi said that the family last talked with Ranjeet last Tuesday and there had been no contact since. 'I came to know about her husband's abduction through his friend the next day… I don't know what kind of situation my husband is in and I don't know what the local government is trying to do to secure his,' she said, adding that she had met Ramban Deputy Commissioner Mohammad Alyas Khan, who promised 'to do everything in his capacity'. In a post on X Friday, the Indian Embassy confirmed the 'heinous terror attack' on July 15. 'Our heartfelt condolences to the bereaved families. Mission in Niamey is in touch with local authorities to repatriate mortal remains and ensure the safe release of the abducted Indian. All Indians in Niger are advised to remain vigilant,' the post said.


Indian Express
30 minutes ago
- Indian Express
From a 90% crash to a 1,000% rally: Can PC Jeweller regain its shine?
In the jewellery business, trust is everything. Ask PC Jeweller (PCJ), which saw its fortunes plummet in 2018 after losing investor confidence and has spent the last five years rebuilding itself. Legal battles, irrecoverable payables, and short-term debt pushed the company into a deep crisis. But today, PCJ is attempting a comeback, step by step, trying to restore the trust. On July 7, 2025, PCJ's promoters infused Rs 500 crore into the company by subscribing to fully convertible warrants at Rs 18 each, a premium to the June 30 market price of Rs 12.3. This sent the stock soaring 52% in the first week of July to Rs 18.7. The company will use these funds to repay bank debt, with an aim to become debt-free by the end of FY26. But to understand the significance of this move, it's important to understand where PCJ went wrong and how far it still has to go. PC Jeweller's Stock Price Momentum (2014-2020) Between FY14 and FY18, PC Jeweller grew its revenue by 80% to Rs 9,610 crore, placing it alongside Kalyan Jewellers and Joyalukkas in terms of market share. But everything began to go south after SEBI pulled up PCJ for insider trading in January 2018. The stock tanked 90% within 9 months. The promoters moved the Securities Appellate Tribunal (SAT) and then to the Supreme Court. Though the apex court overturned SEBI and SAT's ruling in April 2022, four years of legal proceedings had done much damage. Legal troubles and weakened consumer trust pulled revenue down by 83%. The company reported a net loss of Rs 391 crore in FY22, with sales falling to Rs 1,605 crore, which were not enough to cover its fixed costs. PC Jeweller's Sales and Profits FY14-FY22 5,325 6,361 7,301 8,464 9,610 8,672 5,206 2,825 1,605 378 1 -391 Source: The gems and jewellery sector operates like any other retail business, with pan-India stores. What sets them apart is the cost of gold, the primary raw material. India imports gold to meet jewellery demand, and the government imposes a customs duty on these imports. Jewellers also have a high working capital demand as gold is slow-moving, often taking 6–12 months to convert into sales. When sales declined because of the pandemic and the legal issues, PCJ was left with unsold inventory worth Rs 5,667 crore. PC Jeweller's Inventory from FY18-FY22 Inventory (Rs Crores) 5,258 5,012 5,944 5,667 Inventory Days 1,465 Source: Moreover, the pandemic resulted in export clients defaulting on trade receivables. Thus, PCJ had to borrow Rs 727 crore from banks to meet its trade payables, which increased its borrowings to Rs 3,283 crore in FY22 (from Rs 2,294 crore in FY21), and reduced its cash reserve to Rs 60 crore. From a net-cash company in FY18, PCJ became a net debt company by FY22. Within six months, it defaulted on loans worth Rs 3,466 crore in Q2FY23 ended September 2022. At this point, short-term borrowings were more than its reserves, and cash was running dry. PC Jeweller's Cash and Debt from FY18-FY22 Mar-20 Mar-21 Mar-22 Short-Term Borrowings 1,025 2,091 2,282 2,294 3,283 Cash Equivalents 1,556 322 178 60 Source: The creditors lost trust in the jeweller. The State Bank of India (SBI) (Rs 1,060 crore outstanding loan), its largest lender, initiated insolvency proceedings on PCJ in January 2023. Its two prime properties in New Delhi came under the SBI's control, and its inventory at a few locations came under the court's custody, disrupting operations. In FY24, the company's sales fell 75.5% to Rs 604 crore. The 334% rally in 4 months (27 June-24 October 2022) after the Supreme Court ruling reversed after the bank loan default. PC Jeweller's Stock Price Momentum (2022-2025) In December 2023, despite reporting its lowest quarterly revenue of Rs 40 crore (down 95% year-over-year) and a net loss of Rs 198 crore, PCJ's stock surged 100%. Behind the rally was PCJ's negotiations with banks to avoid bankruptcy. The jeweller even offered to reduce payment terms to 3 years from 5 years to get the lenders to settle, instilling confidence in investors. In July 2024, the company reached a One-Time Settlement (OTS) with 12 out of 14 banks. As part of the settlement, PCJ agreed to repay the loan in cash and equity, with structured cash payments over 2 years from the date of settlement (September 30, 2024). However, it expects to repay the debt by March 2026. So far, PCJ has paid Rs 487 crore in cash and converted debt worth Rs 1,510 crore to equity, giving banks a 9.07% stake in the company. As of March 30, 2025, it halved its debt to Rs 2,064 crore. The company will announce more such capital infusion as part of its plan to raise up to Rs 2,705 crore by issuing warrants on a preferential basis to promoters and investors. So far, the company has raised Rs 1,664 crore from share warrants. PCJ is strengthening its balance sheet by reducing debt. Simultaneously, it is reviving its business by using Rs 529 crore from the capital raised towards working capital. This helped the jeweller revive its FY25 sales. It reported a profit of Rs 578 crore by reducing its interest expense by Rs 454 crore to Rs 51 crore. PC Jeweller's Cash and Debt from FY23-FY25 2,245 2,064 Cash Equivalents Inventory 5,633 6,649 Source: PCJ is no longer in crisis mode. Over the last five years, it has avoided bankruptcy and returned to profits, which drove its share price up 1,068%. But challenges remain. PCJ's short-term borrowings have a Crisil rating of D (Default) 'issuer not cooperating' as on March 28. It received a show-cause notice from SEBI in February 2024 for alleged violation of the Listing Obligations and Disclosure Requirements (LODR) Regulations. Though it has settled the issue with SEBI by paying Rs 7.23 crore, it highlights that more work needs to be done around its corporate disclosures. PCJ also has to work toward reviving its business operations, where it is competing with giants like Tanishq and Kalyan Jewellers. Kalyan Jewellers has been expanding showroom count aggressively by moving from company-owned company-operated (COCO) to franchise-owned company-operated (FOCO) model. In the FOCO model, the franchise owners put their money into owning/leasing the store and store inventory. This model reduces the capital intensity of opening a new store, but also reduces the margin. PCJ, on the other hand, still operates on the COCO model, with only 4 franchises and 48 showrooms. The company's FY25 revenue is down 9% from FY23, when the business was not disrupted by bank default. PCJ is confident about FY26 growth. Its stock is trading at a price-to-earnings (P/E) ratio of 19x, way below Kalyan Jewellers' ratio of 85x and the industry median of 32x. Even the Enterprise Value to Earnings Before Interest, Taxes, Depreciation, and Amortisation (EV/EBITDA) ratio of 25.3x looks cheaper than Kalyan Jewellers' 39x. But PCJ's low valuation doesn't make it a value stock. It still carries high risk as the company still lacks consumer trust. It now has a shorter deadline to repay the Rs 2,064 crore debt. Until consumer and investor confidenc eis fully restored, risk remains high. Analysts have not yet initiated coverage on PCJ stock. That means investors must rely on their analysis of the company's performance. Being a distressed small-cap stock, its trading volumes are mostly concentrated around shareholder events, which increases volatility. However, it holds potential to grow substantially if the positive news keeps flowing in. Note: We have relied on data from throughout this article. Only in cases where the data was not available, have we used an alternate, but widely used and accepted source of information. Puja Tayal is a financial writer with over 17 years of experience in the field of fundamental research. Disclosure: The writer and his dependents do not hold the stocks discussed in this article. The website managers, its employee(s), and contributors/writers/authors of articles have or may have an outstanding buy or sell position or holding in the securities, options on securities or other related investments of issuers and/or companies discussed therein. The content of the articles and the interpretation of data are solely the personal views of the contributors/ writers/authors. Investors must make their own investment decisions based on their specific objectives, resources and only after consulting such independent advisors as may be necessary.

Mint
30 minutes ago
- Mint
Anthem Biosciences IPO listing date today. GMP, analysts signal strong debut of shares in stock market today
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