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A fire, reportedly caused by a tourist's improper use of incense and candles, has destroyed the Wenchang Pavilion temple in China's Jiangsu province. The wooden structure collapsed within minutes, but authorities confirmed no one was injured and the blaze was contained. Investigations are ongoing, with restoration planned.
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Market expert Sandip Sabharwal identifies ICICI, Axis, and Kotak as top banking picks, citing upside potential. He also sees value in infrastructure stocks like NCC and Ahluwalia Contracts, while highlighting Indian Hotels as a standout in the hospitality sector. Sabharwal advises caution on IPOs, warning of overvaluation and potential retail investor pitfalls.
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Private sector banks are struggling to keep pace with market value, as their valuations are already high, leaving little room for error. In contrast, public sector banks are benefiting from reforms, potential capital limit increases, and consolidation, positioning them well for the upcoming private capex cycle.
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