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Business Upturn
5 hours ago
- Sport
- Business Upturn
ENG vs IND 1st Test: Why are all players wearing black armbands today? Explained
By Aditya Bhagchandani Published on June 20, 2025, 15:47 IST Cricket took a solemn pause on Friday as India and England observed a moment of silence before the start of the first Test at Headingley, Leeds, to honour the victims of the recent Ahmedabad air disaster. All players from both sides wore black armbands as a mark of respect. The tragic incident occurred on June 12 when a Boeing 787-8 Dreamliner en route to London crashed shortly after take-off from Ahmedabad, resulting in the loss of 274 lives. The disaster claimed the lives of 181 Indian nationals and 53 British citizens, making the tribute especially meaningful for both teams. Ahead of the toss, captains Shubman Gill and Ben Stokes joined Ravi Shastri and match officials in the centre, where England won the toss and opted to bowl first. Gill confirmed that India would have chosen to bowl as well, acknowledging the early conditions but expecting the pitch to ease out later. He also announced debutant Sai Sudharsan at No. 3 and the return of Karun Nair to the Test XI. The tribute underlined the human connection between the two nations, reminding everyone that some moments transcend the sport. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
5 hours ago
- Sport
- Business Upturn
ENG vs IND 1st Test: England win toss, opt to bowl; Sai Sudharsan debuts, Karun Nair returns to XI
By Aditya Bhagchandani Published on June 20, 2025, 15:18 IST England won the toss and elected to bowl first in the opening Test of the World Test Championship 2025-27 cycle against India at Headingley, Leeds. Under cloudy skies and with favourable bowling conditions early on, Ben Stokes chose to make first use of the pitch. India, led by new Test captain Shubman Gill, made two key inclusions in their playing XI—Sai Sudharsan, who makes his Test debut and will bat at No.3, and Karun Nair, who returns to the side after missing 77 consecutive Tests since 2017. Gill said he would have bowled first too but expects the conditions to ease out and become better for batting as the day progresses. He also confirmed that India had a productive practice game and the team is feeling confident. England's XI includes Jamie Smith as wicketkeeper and a pace-heavy attack with Woakes, Carse, Tongue, and Stokes himself, alongside spinner Shoaib Bashir. This Test marks a new era for India with a refreshed middle order and promising new talent on display. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
5 hours ago
- Sport
- Business Upturn
ENG vs IND 1st Test: Karun Nair returns to India XI after missing 77 Tests since 2017
By Aditya Bhagchandani Published on June 20, 2025, 15:13 IST Karun Nair has made a remarkable return to India's playing XI in the first Test against England at Headingley, Leeds, after missing 77 consecutive Test matches. This marks the fourth-longest gap between two Test appearances for India. The middle-order batter, who last featured in a Test match in 2017, joins the Indian side in a transitional phase, with several new faces and a new captain, Shubman Gill, taking charge post Virat Kohli's retirement. Visuals from before the toss showed Nair participating in slip catching practice alongside Gill, hinting at his inclusion. That has now been confirmed. With 77 Tests missed in between, Nair ranks just below Jaidev Unadkat (118), Dinesh Karthik (87), and Parthiv Patel (83) in the list of longest gaps between appearances for India in Test cricket. His return adds experience to a batting lineup that now includes debutant Sai Sudharsan, who starts at No.3. The match at Headingley also saw England win the toss and opt to field first under overcast conditions, hoping to exploit early seam movement. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Yahoo
8 hours ago
- Business
- Yahoo
Is Trainline plc (LON:TRN) Trading At A 46% Discount?
Using the 2 Stage Free Cash Flow to Equity, Trainline fair value estimate is UK£5.16 Trainline is estimated to be 46% undervalued based on current share price of UK£2.79 The UK£4.08 analyst price target for TRN is 21% less than our estimate of fair value Today we will run through one way of estimating the intrinsic value of Trainline plc (LON:TRN) by projecting its future cash flows and then discounting them to today's value. One way to achieve this is by employing the Discounted Cash Flow (DCF) model. Models like these may appear beyond the comprehension of a lay person, but they're fairly easy to follow. We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Levered FCF (£, Millions) UK£99.9m UK£102.6m UK£121.5m UK£132.3m UK£140.5m UK£147.7m UK£154.1m UK£160.0m UK£165.4m UK£170.7m Growth Rate Estimate Source Analyst x8 Analyst x8 Analyst x8 Analyst x7 Est @ 6.22% Est @ 5.12% Est @ 4.34% Est @ 3.80% Est @ 3.42% Est @ 3.16% Present Value (£, Millions) Discounted @ 8.6% UK£92.0 UK£86.9 UK£94.8 UK£95.0 UK£92.9 UK£90.0 UK£86.4 UK£82.6 UK£78.6 UK£74.7 ("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = UK£874m The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 2.5%. We discount the terminal cash flows to today's value at a cost of equity of 8.6%. Terminal Value (TV)= FCF2034 × (1 + g) ÷ (r – g) = UK£171m× (1 + 2.5%) ÷ (8.6%– 2.5%) = UK£2.9b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= UK£2.9b÷ ( 1 + 8.6%)10= UK£1.3b The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is UK£2.1b. In the final step we divide the equity value by the number of shares outstanding. Relative to the current share price of UK£2.8, the company appears quite undervalued at a 46% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out. The calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Trainline as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 8.6%, which is based on a levered beta of 1.184. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Check out our latest analysis for Trainline Strength Earnings growth over the past year exceeded the industry. Debt is not viewed as a risk. Weakness No major weaknesses identified for TRN. Opportunity Annual revenue is forecast to grow faster than the British market. Good value based on P/E ratio and estimated fair value. Threat Annual earnings are forecast to grow slower than the British market. Although the valuation of a company is important, it is only one of many factors that you need to assess for a company. The DCF model is not a perfect stock valuation tool. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. Can we work out why the company is trading at a discount to intrinsic value? For Trainline, we've put together three additional factors you should explore: Risks: To that end, you should be aware of the 1 warning sign we've spotted with Trainline . Management:Have insiders been ramping up their shares to take advantage of the market's sentiment for TRN's future outlook? Check out our management and board analysis with insights on CEO compensation and governance factors. Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered! PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the LSE every day. If you want to find the calculation for other stocks just search here. — Investing narratives with Fair Values Vita Life Sciences Set for a 12.72% Revenue Growth While Tackling Operational Challenges By Robbo – Community Contributor Fair Value Estimated: A$2.42 · 0.1% Overvalued Vossloh rides a €500 billion wave to boost growth and earnings in the next decade By Chris1 – Community Contributor Fair Value Estimated: €78.41 · 0.1% Overvalued Intuitive Surgical Will Transform Healthcare with 12% Revenue Growth By Unike – Community Contributor Fair Value Estimated: $325.55 · 0.6% Undervalued View more featured narratives — Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. 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
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Business Standard
11 hours ago
- Business
- Business Standard
Stock Market LIVE: Airtel, M&M, RIL lift Sensex 680 pts, Nifty tops 25,000; Nifty PSB, Realty up 1%
Sensex Today | Stock Market LIVE on Friday, June 20, 2025: In the broader markets, the Nifty MidCap index and the Nifty SmallCap index added 0.84 per cent and 0.74 per cent respectively 11:03 AM Stock Market LIVE Updates: Nestle India to consider bonus issue on June 26; stock advances 2% Stock Market LIVE Updates: Nestle India shares rose 1.6 per cent in trade on Friday, June 20, 2025, logging an intraday high at ₹2,356.8 per share on BSE after the company said its board will consider issuing bonus shares in a meeting on June 26, 2025. However, at 10:18 AM, Nestle shares pared some gains and were trading 1.03 per cent higher at ₹2,342.85 per share on the BSE. In comparison, the BSE Sensex was up 0.65 per cent at 81,894.29. The company's market capitalisation stood at ₹2,25,887.56 crore. Its 52-week high was at ₹2,777 per share and 52-week low was at ₹2,115 per share. READ MORE 10:32 AM Stock Market LIVE Updates: Bulls lift benchmarks; Sensex up 700 pts Stock Market LIVE Updates: BSE Sensex was ruling over 700 pts higher at 82,077 level around 10:30 AM. The Nifty50, meanwhile, was at 25,014, up 220 points or 0.89 per cent. In the broader market, the Nifty MidCap, and SmallCap indices were up 0.8 per cent each. 9:23 AM Stock Market LIVE Updates: Sensex heatmap Stock Market LIVE Updates: 26 out of 30 stocks were trading in the positive zone on the BSE Sensex.
