Latest news with #PM
Hindustan Times
6 hours ago
- Politics
- Hindustan Times
Rajasthan govt committed to holistic development of STs: CM
Jaipur, Rajasthan Chief Minister Bhajanlal Sharma on Friday reiterated the state government's commitment to the holistic development of Scheduled Tribes and directed officials to ensure the timely and quality execution of tribal area budget announcements and welfare schemes. Rajasthan govt committed to holistic development of STs: CM Chairing a meeting of the Rajasthan Scheduled Tribes Advisory Council at his residence, the chief minister called for the active participation of public representatives in the ongoing Dharti Aaba Jan-Bhagidari Abhiyan being organised to mark the 150th birth anniversary of tribal icon Birsa Munda. Sharma said both the Centre and the state are working together to improve the lives of tribal communities, and the advisory council plays a vital role in ensuring effective implementation of key schemes. The chief minister instructed the officials to expedite the disposal of pending individual and community claims under the Forest Rights Act, 2006, and issue entitlement certificates without delay. Emphasising timely execution, Sharma asked the Tribal Area Development Department to complete all ongoing works with quality and speed. He also directed that projects announced in the 2024-25 budget be completed soon and work on 2025-26 announcements be accelerated. Scholarships for students under education and social justice departments must also be disbursed on time, he said. Highlighting the importance of the central government schemes, the chief minister asked the officials to strengthen initiatives like the Pradhan Mantri TB Mukt Bharat Abhiyan and PM Janman Yojana, ensuring that tribal families receive maximum benefits. Sharma also stressed the importance of regular inspections in tribal residential schools and hostels and ordered quality checks on meals and nutrition provided at Maa-Badi centres. He asked for the remaining distribution of mini-seed kits to be completed at the earliest. The chief minister called for full participation of the elected representatives in the upcoming Pandit Deendayal Upadhyay Antyodaya Sambal Pakhwada, starting June 24, to ensure last-mile delivery of welfare schemes to the needy. Ministers Babulal Kharadi and Hemant Meena, along with MLAs, Chief Secretary Sudhansh Pant and other senior administrative officers were present at the meeting. This article was generated from an automated news agency feed without modifications to text.
Yahoo
6 hours ago
- Business
- Yahoo
5 Consumer Staples Stocks to Buy as Fed Keeps Interest Rates Unchanged
Geopolitical tensions, a delay in the interest rate cut and uncertainty over the impact of President Donald Trump's tariffs have again made markets volatile. Although consumer confidence rebounded slightly in May after Trump temporarily paused the tariffs, investors remain concerned about the economy's health. Given the uncertainty, it would be ideal to invest in safe-haven defensive stocks from the consumer staples sector such as Philip Morris International Inc. PM, Nomad Foods Limited( NOMD), Altria Group, Inc. MO, The Coca-Cola Company KO and Ingredion Incorporated INGR. Each of these stocks carries a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Also, these stocks are from the low-beta category (beta greater than 0 but less than 1). Hence, the recommended approach is to invest in low-beta stocks with a high dividend yield and a favorable Zacks Rank. The Federal Reserve left interest rates unchanged at the end of its June FOMC meeting in the current range of 4.25% to 4.5%. The move was highly expected as Federal Reserve Chairman Jerome Powell reiterated his earlier comments that the central bank will wait and watch the impact of Trump's tariffs on inflation before deciding on resuming rate cuts. Policymakers also lowered their 2025 economic growth forecast to just 1.4% and increased their core inflation outlook to 3.1%. Understandably, the uncertainty over the impact of tariffs has raised concerns among market participants about the economy's future. Although the United States has reached a trade deal with its biggest trading partner, China, it is yet to be seen how the new tariffs will impact the economy. Meanwhile, ongoing geopolitical tensions between Iran and Israel have also raised fears of a full-fledged war. Israel launched missile strikes on Iran last week, targeting its nuclear sites and reportedly eliminating several top scientists. Iran retaliated with a barrage of missile strikes on Israel over the weekend. Although the United States is yet to get directly involved in the conflict, tensions have been escalating, with Trump weighing in on striking Iran. The United States has also been mobilizing its warships and bombers in the Middle East. Washington's involvement in the conflict could further escalate tension. This could keep markets volatile for a longer period. Philip Morris International Inc. is progressing well with its business transformation in the face of consumers' rising health consciousness and stern regulations to dissuade smoking. To this end, PM has been expanding its reduced risk products (RRPs) or smoke-free products category, as evident from the success of IQOS (a heating tobacco device) that counts among one of the leading RRPs in the industry. Philip Morris International has an expected earnings growth rate of 13.7% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 3.3% over the past 60 days. PM currently carries a Zacks Rank #2. Philip Morris International has a beta of 0.52 and a current dividend yield of 2.96%. Nomad Foods Limited manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France and Norway. NOMD's portfolio of frozen food brands includes Birds Eye, Iglo and Findus. Nomad Foods Ltd. is headquartered in Feltham, the United Kingdom. Nomad Foods has an expected earnings growth rate of 7.3% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 4% over the last 60 days. NOMD presently sports a Zacks Rank #1. Nomad Foods has a beta of 0.75 and a current dividend yield of 3.96%. Altria Group, been evolving with the changing industry dynamics. Given the rising health consciousness and stern government regulations to discourage smoking, MO has been moving beyond traditional cigarettes and expanding in the smokeless category. Altria Group's expected earnings growth rate for the current year is 5.3%. The Zacks Consensus Estimate for its current-year earnings has improved 2.1% over the past 60 days. MO currently has a Zacks Rank #2. Altria Grouphas a beta of 0.60 and a current dividend yield of 6.86%. The Coca-Cola Company's strong brand equity, marketing, research and innovation help it to garner a market share of more than 40% in the non-alcoholic beverage industry. KO is putting its best foot forward to evolve its business model to become a total beverage company with something for everyone to drink. The Coca-Cola Company has coped with the industry-wide flattening of soda sales over the years by going on a buying spree and making investments in healthier alternatives like coffee, sparkling water and sports drinks. The Coca-Cola Company has an expected earnings growth rate of 3.1% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.3% over the past 60 days. KO currently carries a Zacks Rank #2. The Coca-Cola Company has a beta of 0.46 and a current dividend yield of 2.95%. Ingredion Incorporated is an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. INGR serves diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. Ingredion's expected earnings growth rate for the current year is 6.1%. The Zacks Consensus Estimate for current-year earnings has improved 1.5% over the past 60 days. INGR carries a Zacks Rank #2. Ingredionhas a beta of 0.46 and a current dividend yield of 2.34%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CocaCola Company (The) (KO) : Free Stock Analysis Report Altria Group, Inc. (MO) : Free Stock Analysis Report Philip Morris International Inc. (PM) : Free Stock Analysis Report Ingredion Incorporated (INGR) : Free Stock Analysis Report Nomad Foods Limited (NOMD) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hans India
12 hours ago
- Business
- Hans India
Double-engine govt committed to all-round development of Bihar: PM Modi
Patna: Prime Minister Narendra Modi on Friday said the double-engine government in Bihar is committed to the all-around development of the state. He inaugurated and laid the foundation stone of multiple developmental projects worth over Rs 5,700 crore during his visit to Siwan in Bihar. The Prime Minister flagged off the Vande Bharat Express train that will connect Pataliputra in Bihar with Gorakhpur in Uttar Pradesh, via Muzaffarpur and Bettiah. Further giving a boost to railway infrastructure in the region, PM Modi also inaugurated the new Vaishali-Deoria railway line project worth over Rs 400 crore, besides flagging off a new train service on this route. PM Modi reiterated the Centre's resolve for Bihar's all-round development and also stated it on his personal social media handle on X. 'The double engine government is committed to the all-round development of Bihar. Today I am very happy to inaugurate and lay the foundation stone of projects worth thousands of crores of rupees from Siwan,' he wrote in a post on X. One of the major highlights of the event was the handing over of house keys to PMAY beneficiaries by the Prime Minister. PM Modi released the first instalment of Pradhan Mantri Awas Yojana - Urban (PMAY-U) at the public gathering in Siwan and handed over keys to a few beneficiaries to mark the Grih Pravesh Ceremony of more than 6,600 completed houses of PMAY-U. He also flagged off a state-of-the-art locomotive built at the Marhowra Plant, for export to the Republic of Guinea, under the 'Make in India' initiative. This is the first export locomotive manufactured in this factory. PM Modi addressed the gathering and made an instant connect with the crowd as he made an appealing statement in the local language, 'Raua.. Sab logon ke pranam karta hi (You people.... I greet you all present here)". PM Modi was accompanied on the stage by Bihar CM Nitish Kumar, Deputy CMs, leaders of NDA allies and other party veterans of the BJP state unit. Bihar CM Nitish Kumar thanked Prime Minister Narendra Modi for approving the caste-based Census, stating how this will have a significant impact on the state's growth matrix.
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Business Standard
13 hours ago
- Business
- Business Standard
PM Kisan 20th instalment date: How to complete Aadhaar-based OTP e-KYC
PM Kisan 20th instalment date: Farmers across the country are eagerly awaiting the 20th instalment of the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme, a crucial financial lifeline for millions. But to receive the upcoming payout directly into their Aadhaar-linked bank accounts, beneficiaries must complete the mandatory e-KYC process as per government guidelines. PM Kisan 20th instalment: Expected date Since instalments are released every four months, and the last was distributed in February, the 20th instalment is likely to be credited by the end of June 2025. Is e-KYC mandatory PM Kisan Instalment? Yes, e-KYC is mandatory. It helps ensure transparencPM y by verifying the identity of genuine beneficiaries and eliminating middlemen, thus enabling direct benefit transfers to farmers' accounts. How to complete Aadhaar OTP-based e-KYC to receive PM Kisan instalment? Here's how to complete Aadhaar OTB-based e-KYC: Visit the official PM-Kisan portal: Click the 'e-KYC' option at the top right. Enter your Aadhaar number. Submit the OTP received on your Aadhaar-linked mobile number. Upon successful OTP verification, your e-KYC will be marked as complete. PM Kisan: How to complete face authentication e-KYC via Mobile App? Here are the simple steps to complete face authentication e-KYC via the Mobile App: Open the PM-Kisan app and log in with your registered mobile number. Navigate to the Beneficiary Status section If e-KYC shows as 'No', click on 'e-KYC' Enter your Aadhaar number and give consent for a face scan Once your face is successfully scanned, the e-KYC will be updated (status reflects within 24 hours) What is PM-Kisan? The Pradhan Mantri Kisan Samman Nidhi, launched by the Ministry of Agriculture and Farmers Welfare, provides financial support of ₹6,000 per year to eligible small and marginal farmers. This amount is disbursed in three equal instalments of ₹2,000 every four months. As the 20th instalment is expected soon, all eligible farmers must complete their e-KYC promptly to avoid missing the upcoming payment. It's advised to regularly check your beneficiary status and complete the process well in advance.
Business Insider
14 hours ago
- Business
- Business Insider
Philip Morris (PM) Defies the Naysayers as Smoking Stays Hot in 2025
Imagine a tobacco stock surging 53% in six months—yet that's exactly what Philip Morris International (PM) has achieved, defying the usual stigma attached to sin stocks and a declining global smoker base. Unlike many of its peers, PM's story stands apart: its traditional cigarette business remains stable, heated tobacco products are experiencing rapid growth, and oral nicotine offerings are gaining momentum. Confident Investing Starts Here: Add a weak dollar boosting its predominantly international revenue, and it's clear PM's growth engine is running strong, justifying the rally and potentially signaling more upside ahead. PM's Combustible Division Remains Steady Cigarettes may seem like a dying product, but Philip Morris International's (PM) combustible division is proving otherwise. In Q1, cigarette shipment volumes rose 1.1% to 144.8 billion units, and organic revenue increased 4%, fueled by an 8.3% price hike. Marlboro's enduring brand strength, along with a 0.4% market share gain to 24.8% (excluding the U.S. and China), highlights PM's pricing power and market resilience. Strategic local manufacturing has also helped preserve margins amid rising raw material costs. The results speak for themselves: combustible gross profit rose 5.3% organically, even with some headwinds from a commercial model change in Indonesia. PM's ability to raise prices without sacrificing volume underscores the strength of its brand. While the global cigarette market is shrinking by roughly 2% annually, PM's smart execution keeps the segment profitable, helping fund its transition to next-generation nicotine products. IQOS Ignites Heated Tobacco Business Unit If combustibles are PM's foundation, IQOS is the growth engine. Heated tobacco unit (HTU) shipments surged 14.4% to 37.1 billion units last quarter, while global in-market sales rose 9.4%, including a 9.3% increase in Japan, where IQOS now holds a commanding 32.2% market share. Europe is also a key growth driver, with countries such as Hungary (41.9%) and Greece (34.4%) reporting impressive market penetration. Backed by $14 billion in R&D since 2008, IQOS now delivers higher margins than cigarettes, proving the investment is paying off. The strength lies in PM's efficient scale and relentless innovation. Its multi-category approach—bolstered by launches like IQOS ILUMA in Japan—continues to deepen consumer loyalty. Even amid challenges like the EU flavor ban in Italy, PM has offset losses with strong double-digit growth in Spain and Germany. With 38.6 million adult users globally, IQOS is far from niche—it's a global force driving PM's next phase of growth. ZYN's Meteoric Rise Opens Door to Oral Segment Then there's ZYN, Philip Morris's nicotine pouch brand, which is rapidly gaining traction in the U.S. ZYN shipments soared 53% to 202 million cans last quarter, prompting the company to raise its full-year guidance to 800–840 million cans. International markets also contributed, with 53% growth in countries such as Pakistan and the UK. Thanks to margins exceeding 70%—about five points higher than those of combustibles—ZYN played a key role in helping smoke-free products contribute 44% of the total gross profit. Smart moves, such as early capacity expansions in March, ensured that supply kept up with demand. But ZYN isn't just a U.S. story—it's a global growth play. With 182% volume growth in non-Nordic international markets, PM is leveraging its global distribution muscle and FDA clearances to accelerate expansion. The 27.2% volume growth in Q1 reflects PM's successful pivot toward discreet, high-margin alternatives that resonate with younger consumers and working professionals. It's a textbook example of how to spot and capitalize on shifting consumer preferences. Not Too Pricey for the Growth After an 80% rally, you might expect Philip Morris to be overvalued— but its forward P/E of 23, based on projected 2025 adjusted EPS of $7.36–$7.49, tells a more nuanced story. While that's not cheap for a tobacco stock, PM is far from typical. With 12–14% organic EPS growth forecasted for 2025—driven by 20.4% growth in smoke-free revenue and a weak dollar amplifying its 90%+ international earnings—this valuation appears well-supported. The weak dollar, in particular, is an underappreciated tailwind, boosting earnings in key international markets, such as Japan and Europe. Add to that $180 million in Q1 cost savings and a $2 billion efficiency target by 2026, and PM is positioned to continue expanding margins despite headwinds such as tax pressures in India. Altogether, this creates a strong case for PM to deliver 15%+ EPS growth annually in the coming years, making today's valuation look not just justified, but compelling. Is PM Stock a Buy or Sell? Wall Street remains highly bullish on Philip Morris, with a Strong Buy consensus based on eight Buy and one Hold rating over the past three months, and notably, no Sell ratings. However, PM's average 12-month stock price target of $188.67 suggests a meagre 3.3% upside over the coming year. PM Reinvents Itself as a Smoke-Free Growth Powerhouse Philip Morris is no longer your grandfather's tobacco company. Its recent surge reflects a bold transformation toward smoke-free alternatives, with ZYN and IQOS driving growth while traditional cigarettes continue to generate solid cash flow. A weak dollar is further boosting its international-heavy revenue base, and with 12–14% EPS growth projected, PM's momentum looks far from accidental—it's the mark of a company redefining its future. While its P/E of 23 isn't bargain-basement, it's a reasonable price for a business evolving into a modern, high-margin growth story. In my view, PM still appears to be an attractive option.
