Phoenix Mills allots 1,604 equity shares under ESOP
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Indian Express
22 minutes ago
- Indian Express
PC Jeweller share price zooms 18% on robust June quarter sales
PC Jeweller Share Price: Shares of PC Jeweller Limited climbed over 18 per cent on Friday, July 4. At around 3 pm, shares of the company traded at Rs 16.56 apiece, up 18.12 per cent. About 4024.93 lakh shares changed hands at the same time. PC Jeweller Ltd has reported around 80 per cent growth in revenue during the April-June quarter of this financial year on strong demand despite volatility in gold prices and said it will become debt free this fiscal. In an exchange filing, the company informed that it closed the April-June quarter on a very strong note clocking a robust performance. 'Despite the volatility in the gold prices, the Company was able to achieve a standalone revenue growth of approximately 80% as compared to the corresponding quarter of the previous financial year. The Company witnessed high demand of its products on account of wedding / festive purchases by its customers during the quarter. Further, the Company had already reduced its outstanding debts towards its bankers by more than 50% during FY 2024-25. The Company is targeting and is confident of discharging its complete obligations due towards its bankers by the end of FY 2026 and thereby become debt free. For achieving its target, the Company has further reduced its outstanding debts towards its bankers by another approximately 7.50% during the quarter. The Company continues to revamp and strengthen all the aspects of its operations, the results of which are visible in its financials. The Company is optimistic about delivering exceptional performance in the upcoming quarters as well,' it said in a regulatory filing. PC Jeweller Limited is a component of the BSE SmallCap. According to the BSE analytics (as of July 4), shares of PC Jeweller Limited gave a positive return of 31.18 per cent and 33.99 per cent in the last 1 week and 2 weeks, respectively. In the last 1 month and 3 months, shares of the company gained 36.13 per cent and 20.56 per cent, respectively. In the past 1 year, 2 years, 3 years, and 5 years, shares of the company up 216.57 per cent, 501.48 per cent, 557.49 per cent, and 872.46 per cent, respectively. PC Jeweller paid its last dividend in 2018 of Re 0.50. In 2014, 2015, 2016, and 2017, the company declared dividends of Rs 1.50, Rs 3.20, Rs 3.35, and Re 1, respectively. PC Jeweller issued bonuses for its shareholders in the ratio of 1:1 in 2017.
Time of India
24 minutes ago
- Time of India
‘Over Rs 1 lakh a month': Reddit post on maid's income triggers debate on India's middle class
A Reddit post has sparked widespread discussion about India's changing class identity, after a user compared their taxed salaried income with their domestic worker's growing, tax-free household earnings. The post, shared by a Redditor from a tier-3 city, detailed how their maid's family now earns more than their own family, despite having no formal employment and paying no income tax. A closer look at the numbers According to the Reddit post, the domestic worker earns Rs 30,000 per month by working full-time across three households. Her husband, a daily wage laborer, earns Rs 35,000, while their eldest son makes Rs 30,000 per month at a saree shop. Their daughter, currently learning tailoring, earns Rs 3,000 but is expected to bring in Rs 15,000–Rs 20,000 monthly once she completes her training. The youngest son is learning plumbing and is expected to earn Rs 15,000–Rs 25,000 per month. Together, the family currently earns Rs 98,000 each month. In a few months, their monthly income is projected to touch Rs 1.3–1.35 lakh. None of this income is taxed. Government support adds to household income The family also receives support through government schemes. They get free rations, pay only Rs 6,000 per month in rent, and own a rural house under a central housing scheme. Additionally, they expect to earn another Rs 30,000–Rs 40,000 every quarter by leasing out inherited land. Salaried taxpayer questions class definitions 'I'm genuinely happy for her,' the Redditor wrote. 'She's worked hard all her life. But it does make you wonder, who really belongs to the middle class now?' Live Events The statement sparked a wide-ranging conversation online, especially among professionals earning fixed monthly salaries and paying income taxes. Many users pointed out the widening gap between formal and informal income, with some informal workers now earning more than white-collar professionals. The middle class debate reopens Commenters offered different viewpoints. Some supported the post's message, saying many informal sector families now take home more money than salaried ones. Others noted that such comparisons ignore key differences—such as job stability, employment benefits, healthcare coverage, and legal protections that formal workers receive. Still, the post raised a fundamental question that many seem to be asking: as costs and taxes rise for salaried workers, and as informal sector incomes remain untaxed, is India's idea of who belongs to the 'middle class' shifting?
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Business Standard
26 minutes ago
- Business Standard
Sajjan Jindal bats for 'longer term solution' for Indian steel sector
Billionaire industrialist Sajjan Jindal has called for a 'longer-term solution' to ensure the competitiveness of Indian steel in the wake of the uncertainty caused by US tariffs. In his message to shareholders as mentioned in JSW Steel's latest annual report, Jindal said: 'We are navigating a period of change, shaped by an evolving global political and policy landscape. While India remains on a transformative growth path, driving healthy steel demand, the steel industry faces a challenging environment marked by weak global demand and record Chinese steel exports, even as iron ore costs remain relatively elevated.' The chairman and managing director of the company pointed out that uncertainty related to tariffs imposed by the US had caused volatility in global markets. 'Trade barriers have been rising, with various countries either imposing measures or initiating action to protect their steel industries from unfair imports.' 'This is altering global trade flows, with surplus steel finding its way into India, posing significant challenges for Indian steelmakers. India has imposed a 12 per cent safeguard duty on certain steel products for 200 days, based on a preliminary investigation undertaken by the Directorate General of Trade Remedies (DGTR),' he said, adding that a longer-term solution was critical to ensure the competitiveness of Indian steel, create a level-playing field, and allow Indian steelmakers to earn a reasonable return on investments. The comments come at a time when major Indian steel producers are expanding capacity at a frenetic pace. JSW Steel has committed a capital expenditure of Rs 62,000 crore over the next three years to support its goal of achieving 42 million tonnes per annum (mtpa) steelmaking capacity in India by September 2027. The company's domestic installed capacity is 34.2 mtpa, and plans are afoot to take it to 50 mtpa by FY31. On 21 April, the Ministry of Finance announced the imposition of a 12 per cent provisional safeguard duty for a period of 200 days on certain steel products to protect the domestic industry from injury caused by a spike in imports. It came a month after the DGTR, under the Ministry of Commerce and Industry, had recommended a 12 per cent safeguard duty. However, steel prices have remained soft despite the safeguard duty. Tata Steel and Tata group chairman Natarajan Chandrasekaran, while responding to shareholder queries on the market environment at the steel major's annual general meeting (AGM) recently, said that China continues to export about 100 million tonnes (mt) of steel. 'That is definitely affecting the overall steel price not only in global markets but also in India. The Indian government has put a safeguard duty of 12 per cent and the industry obviously was wanting almost double that. But we are happy that the government took the step to put the 12 per cent,' he said, adding that in spite of that, steel prices remained soft. However, he also said that Tata Steel was expected to post better revenues, EBITDA, profits, and cash flow in FY26 compared to FY25 on the back of overall performance, increased capacity, and current spread levels.
