Multibagger small-cap stock Axiscades hits 5% upper circuit on THIS update: Check details

Stock Market Today: Multibagger small-cap stock Axiscades was locked in a 5% upper circuit in the morning trades on Tuesday. AXISCADES Technologies Limited announced having signed an agreement to boost production of cutting-edge systems in India.
Axiscades Technologies on Tuesday, 17 June 2025, announced on the exchanges having signed an agreement with a Europe-based global leader in defense, aerospace, and strategic systems. The agreement is to boost production of cutting-edge systems in India.

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Hindustan Times

25 minutes ago

• Hindustan Times

Dubai man trolled for inviting IIM students to work for free: ‘No stipend, get real-world exposure'

A Dubai-based Indian professional has sparked a wave of backlash after inviting MBA students from India's top business schools to apply for an unpaid short-term project. Sahil Deshmukh's LinkedIn post on a 'no stipend' position for MBA students was met with outrage, with many calling it a slap in the face of students who spend lakhs and work hard to secure admission to B-schools like the IIMs and XLRI. Unpaid internship for IIM students? Hiring post draws flak (Representational image) Deshmukh, who works as a Manager in the Global CEO's Office at Erba Mannheim, is himself a graduate of IIM Lucknow. In a post shared on LinkedIn one day ago, he announced a vacancy for MBA students from top institutions like the Indian Institute of Management and the Faculty of Management Studies, Delhi. 'Looking for MBA students from IIMs, FMS, SPJIMR, XLRI, MDI, or other top B-schools for a short-term live project,' Deshmukh wrote. 'It's a 3-4 week remote project with no stipend, but a good opportunity to work closely with the leadership team on strategic initiatives,' the Dubai-based employee revealed. He called the position 'Ideal for someone looking to get real-world exposure and contribute meaningfully.' The backlash The backlash was swift, massive and entirely expected. In the comments section of the post, many called out Deshmukh for expecting MBA students to work for free. has reached out to him for a statement. This copy will be updated on receiving a response. 'Let's put an end to the exploitation of unpaid internships. As Indians, it's time we speak up against a toxic work culture that normalizes offering no stipend in exchange for full-time effort,' wrote one LinkedIn user. 'And the saga of unpaid work (in the name of 'gaining experience'), keeps on thriving. Quite sad,' another said. 'Pay. It's not a difficult thing to do. Don't loot people in the name of experience,' LinkedIn user Piyush said. 'You want people from top B-schools to put their heart and soul into a project , 'contribute meaningfully' but with no stipend? Crazy,' another added. The post also reached Reddit, where reactions were overwhelmingly negative. 'Getting freshers with no experience a start is different, hiring generic MBAs is different. But asking for tier 1 MBAs and refusing to pay them is crazy,' a user said.

Mint

35 minutes ago

• Mint

Iran-Israel war escalation to impact India€™s trade with West Asia, say experts

New Delhi, Jun 22 (PTI) Any further escalation of the ongoing war between Iran and Israel will have wider implications for India's trade with West Asian countries, including Iraq, Jordan, Lebanon, Syria, and Yemen, say experts. They said that the war has already started impacting India's exports to Iran and Israel. The US attacked three sites in Iran early Sunday, inserting itself into Israel's war aimed at destroying the country's nuclear programme in a risky gambit to weaken a longtime foe that prompted fears of a wider regional conflict as Tehran accused Washington of launching "a dangerous war". "We are in for big trouble now because of this war. It will have a cascading effect on India's trade with West Asian countries," Mumbai-based exporter and founder chairman of Technocraft Industries India Sharad Kumar Saraf said. Saraf said that his company is also holding back consignments to both these countries. Technocraft Industries manufactures drum closures, nylon and plastic plugs, capseal closures, and clamps. "There will be a cascading effect of this war," he added. Another exporter said that the Indian traders community is already reeling under the impact of the Israel-Hamas conflict and involvement of Yemen-backed Houthis' attack on shipping vessels in the Red Sea. Due to that, shipping lines from India were taking consignments from the Cape of Good Hope, encircling the African continent. Now, because of the Iran-Israel war, another key trading route - the Strait of Hormuz - is getting affected. "This route will hit the movement of oil tankers. I have a feeling that oil tankers will find new routes but that will push crude oil prices. It will have implications on inflation as crude oil prices are the mother of all prices," Saraf said. Think tank Global Trade Research Initiative (GTRI) said that a wider regional escalation could threaten India's much larger trade with the broader West Asian region, including Iraq, Jordan, Lebanon, Syria, and Yemen, where Indian exports total USD 8.6 billion and imports stand at USD 33.1 billion. "Any disruption to shipping lanes, port access, or financial systems in this corridor would severely impact India's trade flows, inflate freight and insurance costs, and introduce fresh supply chain risks for Indian businesses," GTRI Founder Ajay Srivastava said. India's exports to Iran stood at USD 1.24 billion in FY2025, with key items including Basmati rice (USD 753.2 million), banana (USD 53.2 million), soya meal (USD 70.6 million), Bengal gram (USD 27.9 million), and tea (USD 25.5 million). Imports stood at USD 441.8 billion last fiscal. With Israel, India's exports stood at USD 2.1 billion and USD 1.6 billion in imports in 2024-25. He said that the ongoing US-Israel strikes on Iran and the threat of wider conflict could significantly disrupt this trade. Payment channels already strained by US sanctions may face further blockages, while heightened shipping risks in the Gulf could drive up insurance costs and delay shipments. "Perishable exports like rice, bananas, and tea are especially vulnerable. A prolonged conflict could dampen Iranian demand and squeeze Indian exporters, particularly in the agricultural sector," Srivastava said. GTRI said that a key concern is the potential disruption to the Strait of Hormuz, through which roughly 60-65 per cent of India's crude imports transit. "Any blockade or military escalation in this vital maritime corridor would severely impact India's energy security, drive up oil prices, and trigger inflationary pressures at home," it added. India enjoys deep historical, cultural, and economic ties with Iran, once a major crude oil supplier and views Iran's Chabahar Port as a strategic gateway to Afghanistan and Central Asia, providing crucial connectivity while bypassing Pakistan. Yet India also maintains robust relations with the US, Israel, and Gulf Arab states, each now directly or indirectly involved in the unfolding confrontation, Srivastava said. India's crude oil and half of its LNG imports pass through the Strait of Hormuz, which Iran has threatened to close. This narrow waterway, only 21 miles wide at its narrowest point, handles nearly a fifth of global oil trade and is indispensable to India, which depends on imports for over 80 per cent of its energy needs. The Strait of Hormuz, which lies between Iran to the north and Oman and the United Arab Emirates to the south, serves as the main route for oil exports from Saudi Arabia, Iran, Iraq, Kuwait, and the UAE. Many liquefied natural gas (LNG) shipments, especially from Qatar, also pass through the strait. According to the Delhi-based economic think tank, any closure or military disruption in the Strait of Hormuz would sharply increase oil prices, shipping costs, and insurance premiums, triggering inflation, pressuring the rupee, and complicating India's fiscal management. The present conflict that began with an attack on Israel on October 7, 2023, has brought cargo movement through Red Sea routes to a halt due to attacks by Houthi rebels on commercial shipping. Last year, the situation around the Bab-el-Mandeb Strait, a crucial shipping route connecting the Red Sea and the Mediterranean Sea to the Indian Ocean, escalated due to attacks by Yemen-based Houthi militants. Around 80 per cent of India's merchandise trade with Europe passes through the Red Sea, and substantial trade with the US also takes this route. Both these geographies account for 34 per cent of the country's total exports. The Red Sea Strait is vital for 30 per cent of global container traffic and 12 per cent of world trade. Based on the tariff war impact, the World Trade Organisation (WTO) has already said that global trade will contract 0.2 per cent in 2025 as against the earlier projection of 2.7 per cent expansion. India's overall exports had grown 6 per cent on year to USD 825 billion in 2024-25. This year it is expected to cross USD 900 billion. Snapping the two-month rising trend, India's exports declined by 2.17 per cent year-on-year to USD 38.73 billion in May due to a fall in petroleum goods' shipments.

Business Standard

39 minutes ago

• Business Standard

Raymond Realty to launch ₹14,000 cr projects in FY26, listing on July 1

Raymond Realty will launch six residential projects this fiscal in the Mumbai Metropolitan Region with an estimated revenue potential of about Rs 14,000 crore as the company looks to expand the property business amid strong demand. In an interview with PTI, Raymond Realty CEO Harmohan Sahni announced that the company will get listed on stock exchanges on July 1, post demerger of the real estate vertical from Raymond Ltd, which will now focus on just the engineering vertical. The demerger will position Raymond Realty to pursue its growth trajectory as an independent pure-play real estate business. Sahni highlighted that the company has a huge land bank in the Mumbai Metropolitan Region (MMR). "In 2019, we started our first project. In the last six years, we have built a significant presence at Thane and Mumbai in MMR," Sahni said. "The total gross development value (GDV) of about Rs 40,000 crore is what our portfolio looks like today. Out of that Rs 10,500 crore worth of projects have already been launched," he added. Sahni said the remaining projects would be launched in the coming years. Asked about the pipeline for the current fiscal, Sahni said the company will launch six projects in MMR this fiscal with sales bookings potential of around Rs 14,000 crore. The company will offer housing units in a price range of Rs 2 crore to Rs 20 crore in the upcoming projects. Sahni said the company is focusing a lot on quality and timely completion of projects. Since its inception, Raymond Realty has completed two housing projects, while six projects are under construction. Mumbai-based Raymond Realty, one of the leading real estate firms in the country, sold properties worth Rs 2,314 crore last fiscal as against Rs 2,268 crore in the preceding year. Raymond Realty's revenue rose 45 per cent to Rs 2,313 crore in 2024-25 from Rs 1,593 crore in the preceding year. Sahni said the company is exploring acquiring more land parcels in MMR under joint development agreements (JDAs) with landowners. It also wants to enter the Pune residential market under the JDA model. On the upcoming listing of Raymond Realty, the company said the demerger scheme has become effective from May 1, 2025, and the record date is May 14, 2025, for the purpose of determining the eligible shareholders of the demerged company, Raymond Ltd. According to the scheme of arrangement, each shareholder of Raymond Ltd will receive one share of Raymond Realty Ltd for every share held in Raymond Ltd. Raymond Group has been a pioneer and leader in fabric manufacturing since 1925, and then forayed into other sectors such as engineering business and real estate. After demerging its lifestyle business into a separate listed entity in 2024, Raymond Ltd is now carving out the real estate vertical into a separate listed entity. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)