The Al-Jawf region in Saudi Arabia experienced its first snowfall. The snowfall followed heavy rains and hail. Waterfalls emerged, and valleys were revitalized. The Saudi weather department issued warnings for thunderstorms, heavy rains, and strong winds. The UAE also experienced unusual weather patterns with rainfall and thunderstorms.
India's Directorate General of Trade Remedies (DGTR) has recommended anti-dumping duties on PVC resin imports from seven countries, including China and the US. The DGTR found that these countries were selling PVC resins below market value, harming Indian manufacturers. If enacted, the duties could reach up to USD 339 per tonne.
Meanwhile, Trump's position of imposing higher taxes on China, which is almost 60% or more, could be beneficial for the likes of exporters from India, which could be wires and cables companies, solar module exporters, even tile exporters from India, and even chemical companies. So, it depends on the sub-sector
Mazagon Dock Q2 Results FY 25: Mazagon Dock Shipbuilders recorded significant financial growth in the second quarter of 2024. The company's profit after tax soared by 75.7% compared to the same period last year. Revenue from operations also witnessed a substantial increase of 50.8%. This impressive performance was driven by a surge in EBITDA, reflecting the company's strong operational efficiency.
The Indian stock market is undergoing a correction. Some sectors like auto and microfinance are facing difficulties. However, the long-term outlook for the market remains positive. Investors are advised to focus on companies with strong fundamentals and a history of good results. The days of wild speculation and easy returns are over.
