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<ul><li>There is no law in India that states that the wife should get a certain percent of their husband's income or wealth as <keyword id="6406198" type="General" weightage="20" keywordseo="alimony" source="Orion">alimony</keyword>. </li><li>Actual settlement amount depends on the lawyer, the income of the husband and number of dependents, among other factors. </li><li>If there is accusation of mental cruelty or domestic physical violence against the husband, those will have to be tested before the court. </li></ul>In the process of reaching an agreement following their divorce, Nawaz Modi Singhania, 53, the separated spouse of billionaire industrialist Gautam Singhania, has reportedly requested 75% of his purported $1.4 billion fortune for herself and their two daughters. When Bollywood star Hrtithik Roshan and Sussanne Khan divorced in 2013, she had reportedly demanded ₹400 crore as alimony. It was later settled at ₹100 crore, though not confirmed. High-profile divorce cases make headlines, and when industrialists are involved they may also affect share prices. But when a divorce happens and the wife makes an alimony claim, how do things pan out? "The court will look at the education levels of the person and their ability to be employed while deciding alimony. It's very unlikely that somebody will get 75% of the assets," said Delhi-based corporate lawyer Anuroop Omkar, founding partner of law firm AK &amp; Partners. There is no law on settlement percentage There is no rule in India which says that you have to give so and so percent to your wife as alimony. “It depends on a number of factors. One of them is what is your strategy to get the money- what is the lawyer’s strategy, what are arguments, what is your lawyer’s research. This happens because there is no set rule,” says Vandana Shah, a divorce lawyer. So the actual settlement amount depends on the lawyer, the income of the husband,what the wife is earning and depends on what comes out in court. It also depends on the number of dependents. In the Rajnesh vs Neha divorce case, a few years ago, the court ruled that there's no fixed formula to determine the amount of maintenance to be granted. The awarded maintenance should be fair and practical, ensuring that it enables the wife to sustain herself comfortably and reasonably. The adequacy of the sum should be assessed based on the wife's ability to maintain herself with a reasonable standard of living. “Since November 2020, as per Rajnesh V/s Neha as per the Supreme Court guidelines, every wife who makes a claim for maintenance,makes an application in the prescribed format which - includes the financials of the wife, her monthly expenses, investments, properties she owns and so on. The husband is also expected to file his application with his financials in the format prescribed by the Supreme Court,” says S<a href="https://www.linkedin.com/in/sandhya-vasudevan-sondhi-1099215/overlay/about-this-profile/">andhya Vasudevan Sondhi</a>, founder, SVS Legal, a Mumbai-based boutique law firm that handles family matters. Outside court settlement It is advised that such separation issues be amicably dealt with. Especially in the case of the Singhanias, there will be allegations and counter allegations by both the parties, especially since the tenure of marriage is long. “Looking at the gravity of the whole situation and looking at the children and the long tenure of marriage, if both the parties talk it out and settle the matter, it could be wonderfully handled. If a divorce can be done in a mutual way, it works in the best interest of both the parties, the children and also the respective families,” says Advocate Siddhartha Shah , a divorce lawyer. The law thus provides a solution to this. Section 28 of the special marriage act, talks about of divorce by mutual consent. “If there are unreasonable claims, then one of the parties may not agree. Then the court will have to look at each and every aspect of the accusations and then the court will have to weigh it according to the primary and secondary evidence that is produced before the court,” says Shah. It is noteworthy that if there is accusation of mental cruelty or domestic physical violence against the husband, that will have to be tested before the court. Then the case goes to trial and that can become a time consuming process.

High profile divorces are stories of claims and counterclaims best settled outside court

<ul><li>Shares of <keyword id="6368261" type="General" weightage="20" keywordseo="raymond" source="Orion">Raymond</keyword> surged more than 5% in early trade on Tuesday on the company's announcement to consolidate some of its businesses.</li><li>The company’s tools &amp; hardware and auto components businesses will be merged into an engineering business.</li><li>Its real estate business will be formed into a wholly owned subsidiary.</li></ul>Textile-to-engineering conglomerate Raymond announced a restructuring plan to merge some of its businesses into one and monetise its assets. With this, the company will consolidate its segments of business with the parent company wherein tools &amp; hardware and auto components businesses will be merged into a new segment for engineering business. Meanwhile, the real estate business will be formed into a wholly owned subsidiary. The consolidation plan will improve synergies and provide an opportunity to monetise businesses and pare debt. <a href="https://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/raymond-board-approves-business-consolidation-to-explore-monetisation-and-deleverage-business/articleshow/86568004.cms">Reportedly</a>, Raymond had a gross debt of ₹2,470 crore as of 31 March, as per Crisil research. This resulted in price gains for Raymond’s stock, on Tuesday, which gained 5% in the early trade. Later at 3:00 p.m., shares of the company were up 2.7% at ₹460 per share. <div type="image" title="raymond" height="900" width="1200" msid="86582730" hostid="261"></div> With a focus to fast track recovery after the coronavirus outbreak, the firm will be consolidating its business-to-consumer business by transferring its apparel business into parent company Raymond, said the company. The company said, “the move will strengthen efficiencies, streamline and simplify processes and bring in synergy benefits in terms of design and innovation, sourcing and retail network.” “We are consolidating the business to explore all options available to us for monetisation, which will enable deleveraging leading to value creation,” said Gautam Hari Singhania, chairman and managing director at Raymond in a statement to BSE. Raymond had reported a consolidated loss of ₹157 crore in June quarter as compared to loss of ₹242 crore in the same quarter previous year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/finolex-cables-shares-trade-lower-after-two-advisory-firms-accuse-the-firm-of-poor-corporate-governance/articleshow/86580654.cms">Finolex Cables under pressure after two advisory firms accuse the firm of poor corporate governance</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/take-a-deeper-look-at-the-meteoric-rise-of-glance-that-may-have-caught-mukesh-ambanis-eye/articleshow/86579569.cms">Take a deeper look at the meteoric rise of Glance that may have caught Mukesh Ambani’s eye</a>

Investors cheer Raymond’s restructuring plan to reduce debt

<ul><li>At 7:50 am, the SGX Nifty was trading flat, indicating a slow start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start on a tepid note on Wednesday, led by mixed cues from the global markets. At 7:50 am, the SGX Nifty was trading flat, indicating a slow start for Nifty50. However, on Wednesday, after an initial morning decline, <a href="https://www.businessinsider.in/stock-market/news/us-stocks-erase-losses-finish-higher-amid-renewed-stimulus-optimism/articleshow/79538793.cms">US stocks finished mostly higher as investors </a>latched onto hope that another round of fiscal stimulus to hasten the economic recovery is just around the corner. The Dow Jones Industrial Average closed 60 points higher, and the S&amp;P 500 was up 0.18%. These are the stocks to watch out for during the trading session today: RIL and Future Retail The Indian market regulator <a href="https://www.livemint.com/news/india/sebi-asks-bse-to-clarify-on-noc-to-ril-future-deal-11606901705869.html">SEBI has asked the BSE</a> to clarify on the no-objection-certificate (NOC) given by the exchange to the Future Group for amalgamation of some of its business as part of the ₹24,713 crore deal by Reliance Industries’ retail arm. The shares of RIL ended 0.21% higher on Wednesday, whereas Future Retail ended in red. Bharti Infratel and Bharti Airtel Bharti Airtel said its subsidiary Nettle Infrastructure Investments had acquired an additional 4.94% stake in Bharti Infratel for ₹2,882.32 crore. With this transaction, Bharti Airtel’s total stake in its mobile tower arm Infratel has increased to 41.66%. The shares of Bharti Infratel ended 4.40% higher on Wednesday, whereas Bharti Airtel ended in 1% higher. Wipro Wipro wins a multi-year contract from Verifone, a global leader in payments and commerce solutions, to drive agility across its cloud services offerings. The company said it would develop new features, capabilities and interfaces for Verifone’s Cloud Services offerings, enabling seamless and flexible transaction processing for the company. The shares of Wipro ended 1.8% higher on Wednesday. Dabur The company has responded to a study by the Delhi-based NGO Centre for Science and Environment (CSE) and said that its honey had passed the Nuclear Magnetic Resonance (NMR) test in Germany and it is complying with 22 parameters mandated by FSSAI for testing honey. The CSE study shows that 10 of the 13 brands of honey sold in India, including Dabur had failed the NMR test. The shares of Dabur ended 0.61% lower on Wednesday. DHFL The Committee of Creditors for cash-strapped DHFL has voted in favour of inviting revised bids. And, December 14 has been set as the new deadline to submit bids. The shares of DHFL ended 5% higher on Wednesday. Raymond Raymond’s subsidiary Silver Spark Apparel has entered into a share transfer agreement to divest its entire stake in its subsidiary Dress Master Apparel for ₹19.07 crore. The shares of Raymond ended 0.36% lower on Wednesday. Tata Chemicals Tata Sons bought shares worth ₹76 crore in Tata Chemicals. The shares of Tata Chemicals ended 6% higher on Wednesday. SpiceJet SpiceJet intends to expand its cargo business considerably over the next two years, after great success during the pandemic, the company’s Chairman and Managing Director, Ajay Singh said in their annual report. The shares of SpiceJet ended 4% higher on Wednesday. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/burger-king-grey-market-premium-and-heres-what-brokerages-say-about-the-ipo-opening-tomorrow/articleshow/79508730.cms" data-type="tilCustomLink">Burger King India IPO opens today — brokerages recommend ‘subscribe’ on attractive valuations</a> <a href="https://www.businessinsider.in/india/news/delhi-chalo-no-breakthrough-in-talks-government-seeks-farmers-objections-suggestions-on-farm-laws/articleshow/79521894.cms" data-type="tilCustomLink">Delhi Chalo: No breakthrough in talks, government seeks farmers' objections, suggestions on farm laws</a> <a href="https://www.businessinsider.in/science/news/china-just-landed-its-change-5-spacecraft-on-the-moon-the-mission-could-bring-moon-rocks-to-earth-for-the-first-time-in-40-plus-years-/articleshow/79520221.cms" data-type="tilCustomLink">China just landed its Chang'e-5 spacecraft on the moon. The mission could bring moon rocks to Earth for the first time in 40-plus years.</a>

Top stocks to watch — Future Retail, RIL, Bharti Infratel, Airtel, Wipro, Dabur, DHFL, SpiceJet, and others

<ul><li>At 7:40 am, the SGX Nifty was trading 1.06% higher, indicating a higher start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider</a>. </li></ul>Indian stock market is likely to open on positive note tracking cues from the global peers. At 7:40 am, the SGX Nifty was trading 1.06% higher, indicating a higher start for Nifty50. The US stocks also ended higher on Monday, fueled by a rebound in big tech names. The Dow Jones Industrial Average closed 1.18% higher, and the S&amp;P 500 rose 1.27%. Here’s a list of stocks to watch for in trade on September 15: Future Retail Future Retail reported a net loss of ₹242.2 crore for the quarter ended June 30. The company’s overall revenue was down 88.6% to ₹ 163.2 crore compared to the same period last year. The shares of Future Retail closed 5% lower yesterday. ICICI Bank ICICI Bank said the RBI had exempted it from provisions of the Banking Regulation Act 1949 relating to its investments in its insurance companies. A government notification exempts ICICI Bank from cutting stake to 30% in ICICI Lombard General Insurance and ICICI Prudential Life Insurance, for a period of three years. The shares of ICICI Bank closed 2% lower on Monday. Central Bank of India The Central Bank of India has reduced its marginal cost of funds-based lending rates (MCLR) by 5 basis points (bps) across all tenors, effective from Tuesday. The city-based lender has cut the one-year MCLR to 7.10% from 7.15%, a release said. The shares of the Central Bank of India closed flat on Monday. PVR Limited PVR Limited reported a net loss of ₹225.6 crore for the quarter ended June 30. The company’s overall revenue was down 98.6% to ₹12.7 crore compared to the same period last year. The shares of PVR Limited closed 5% higher yesterday. Indiabulls Housing Finance Indiabulls Housing Finance raised about ₹1,205 crore over the last few days through its qualified institutional placement (QIP) and partial stake sale in UK-based OakNorth Bank Ltd. The non-banking finance company (NBFC) has raised ₹682.87 crore through the QIP and ₹522 crore from the partial stake sale. The shares of Indiabulls Housing Finance closed 5% higher on Monday. Raymond Limited Apparel maker Raymond reported a net loss of ₹247.6 crore compared to last year loss of ₹12.2 crore. The company’s consolidated revenue declined by 88.6% to ₹163.2 crore. The shares of Raymond Limited closed 3% higher on Monday. SAIL: Steel Authority of India Steel Authority of India reported a net loss of ₹1,226.5 crore for the quarter ended June 30. The company’s overall revenue was down 38.8% to ₹ 9,067.5 crore compared to the same period last year. The shares of SAIL closed 2% higher yesterday. Ashok Leyland Hinduja Group-owned Ashok Leyland launched a new light commercial vehicle (LCV) yesterday. Chairman Dheeraj Hinduja said the new LCV comes with the right and left-hand drive options, enabling the company to look at international markets. The shares of Ashok Leyland closed 10% higher yesterday. Allcargo Logistics, SpiceJet, Future Enterprises, and Zee Media Corporation These companies are slated to report their quarterly earnings to the stock exchanges today. SEE ALSO: <a href="https://www.businessinsider.in/india/news/spicejet-airlines-share-price-spikes-4-ahead-of-earnings-tomorrow/articleshow/78107627.cms" data-type="tilCustomLink">SpiceJet shares spike ahead of earnings— losses are certain, but cargo operations may hold some respite</a> <a href="https://www.businessinsider.in/tech/news/oracle-wins-bid-to-become-tiktoks-trusted-technology-provider-in-us/articleshow/78110292.cms" data-type="tilCustomLink">Oracle wins bid to become TikTok's 'trusted technology provider' in US</a>

Top stocks to watch— Future Retail, PVR, Central Bank, ICICI Bank, SpiceJet, Indiabulls Housing Finance, Ashok Leyland and more

<ul><li>A recession is poised to hit the US economy within the next nine months, according to Raymond James.</li><li>The investment firm said rising borrowing costs, a tapped out consumer, and ongoing labor strikes should push the economy into a recession.</li><li>These are the three big warning signs Raymond James is monitoring ahead of a potential recession.</li></ul>Don't be fooled by a resilient consumer, as a recession is poised to hit the US economy within the next nine months, according to a recent note from Raymond James chief investment officer Larry Adam.Wall Street forecasts of a potential recession <a href="https://www.businessinsider.com/how-to-invest-2024-economy-outlook-recession-stocks-bonds-ameriprise-2023-10">have been getting pushed further and further out into the future</a> as consumers continue to show solid spending habits and are overall in good financial shape. But a convergence of several risk factors suggest to Adam that the economy will be unable to avoid a mild recession within the next year.These are the three warning signs he is monitoring ahead of a potential recession.<h3>1. Growing headwinds for consumers</h3>From the resumption of student loan payments to elevated borrowing costs, there's a lot of risks that everyday consumers are forced to navigate. Tailwinds that drove strong consumer spending since the pandemic are ending and excess savings have been nearly depleted."Sure, consumers have jobs and income right now, but their ability to continue to consume indiscriminately is coming to an end," Adam said.He pointed to recent comments from Bank of America CEO Brian Moynihan, who said consumer spending is now running at levels consistent with a low-inflation, low-growth economy that was prevalent before the pandemic.Finally, <a href="https://www.businessinsider.com/more-people-missing-car-payments-another-ominous-sign-for-economy-2023-10">growing credit card debt and rising delinquencies</a> suggest more Americans are starting to fall behind on debt obligations."While we are not suggesting that consumption is going to fall off a cliff, a moderation in spending should be expected," Adam said.<h3>2. High borrowing costs</h3>High borrowing costs for cars, homes, and credit cards pose a threat to economic growth, especially if they persist for longer than expected.The housing market's ongoing affordability crisis suggests residential real estate activity will stay "frozen," according to Adam, and <a href="https://markets.businessinsider.com/news/commodities/housing-market-homebuilder-confidence-prices-mortgage-investors-sellers-buyers-fed-2023-10">that is weighing on homebuilder confidence,</a> which has declined to its lowest level since January. Consumers are navigating this scenario by utilizing adjustable rate mortgages, which now make up a nearly 10% share of new home loans.The higher interest rates are also impacting business capital expenditure plans. "A composite of regional Fed capex surveys shows that business capex spending plans over the next six months have fallen to their second lowest level in the post-COVID era," Adam observed.<h3>3. Macro risks are building</h3>Risks surrounding the economy and the stock market are rising, and quickly. Elevated gas prices, conflicts in the Middle East, and souring consumer sentiment are just a few of the lingering threats.The Conference Board's Expectations Index tumbled to its lowest level in four months, "a level that historically signals a recession within the next year," Adam observed. The index measures consumers' attitudes towards the short-term outlook for the economy and jobs market.All of these risks should ultimately weigh on consumer spending habits as the crucial holiday season approaches."Add in the possible disruptions from the ongoing autoworkers strikes and <a href="https://www.businessinsider.com/what-happened-with-federal-government-shutdown-likelihood-ukraine-border-funding-2023-10">a potential temporary federal government shutdown</a> in mid-November, and growth could look considerably weaker in the months ahead," Adam said.

A recession is about to hit the US economy. Here are 3 warning signs that defy consensus view, according to Raymond James

<ul><li>The suits maker wants to become a lifestyle experience company targeting 'newly grown ups'.</li><li>The investments are going into rebuilding the entire value chain and the biggest chunk of the money is being spent on technology and digital infrastructure.</li><li>The sale of land parcel in Thane will give the company additional muscle as it invests in trying to reinvent the brand and the company.</li></ul>Raymond has been popular for its suits for decades in India but it wants to be more than that starting next year. “So we want to evolve from a clothing company to a lifestyle experience company,” Chief Executive Officer Sanjay Behl told Business Insider in an exclusive interview. And that would mean remodelling the entire value chain from the supply to technology to the digital infrastructure. “We have partners like SAP, Microsoft, PwC, Accenture have come together to look at every single node of our value chain and make us future-ready, for Raymond 3.0,” Behl said. Most of its investments are going into technology as the company shifts its focus to a younger audience, which Behl likes to call the ‘newly grown ups’. “There are massive IT investments, running into multi-million dollar investments, which are happening currently in under-layering or re-architecting the IT infrastructure of the company.... Our point of sale of in each of these (outlets) is going to change. This is a partnership with Microsoft which again is going to consume multi million dollars,” he added. 
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 In times of slowdown Earlier this year, Group Chairman <a href="https://www.businessinsider.in/raymond-chairman-gautam-singhania-latest-interview-earnings-outlook/articleshow/68519775.cms">Gautam Singhania told Business Insider</a> that the company was likely to turn free cash flow in the financial year ending March 2019 itself. That didn’t happen. The slowdown in the economy and demand may have made matters worse in the months that followed for Raymond, which has a debt of about ₹2,300 crore on its books. Thankfully for the group, the much-awaited deal to sell a massive land parcel in Thane (nearMumbai has come through. On October 9, the company <a href="https://www.bseindia.com/corporates/anndet_new.aspx?newsid=b8f9b333-e7f1-4180-8af8-f47bca7e90b4">informed the stock exchanges</a> that the land has been agreed to be sold for ₹700 crore and will help improve cash flow amidst a broader slowdown in demand. Raymond makes nearly 60% of its revenue in the second half of the year thanks to a series of festivities and weddings across the country. However, this year’s festive season has been off to a sombre start. “There is a definite uptick though it was muted. This time, Onam has not been as.. because there were floods in Kerala and that impacted the sentiment to a very large extent. The Middle East has slowed down a lot versus a few years ago, and Kerala has a lot of Middle East economy that helps them spend. A combination of factors, we have seen a muted response during Onam. The early signs are looking good for <keyword id="6357908" type="UNKNOWN" weightage="20" keywordseo="durga-puja">Durga Puja</keyword>. Though it’s still not as bountiful as we expected,” he said. The interview with Behl took place on September 27. But Behl is confident of a high single-digit growth in topline and a double digit growth in bottomline. 
 
 
 
 
 
 
 
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 The share price of Raymond had lost over a third of its market value since the start of this year. However, the announcement of the land sale has given a huge fillip to the street sentiment. The share price jumped over 8% after the statement sent to the exchanges. “The fundamentals have not changed and the stock market is a consequence of fundamentals eventually. It’s a bit of catch up that will have to be done and it will happen,” Behl had said before the announcement. SEE ALSO: <a href="https://www.businessinsider.in/raymond-chairman-gautam-singhania-latest-interview-earnings-outlook/articleshow/68519775.cms" data-type="tilCustomLink" target="_blank">Two revelations and a fiery defence from Raymond’s boss Gautam Singhania</a>

Raymond is spending millions on SAP, Microsoft, PwC, and Accenture to rewire the company

<ul><li>The branded apparel major is likely to see free cash flow this year itself, Chairman Gautam Singhania said in an <keyword id="975312" type="PERSON" weightage="20" keywordseo="exclusive-interview">exclusive interview</keyword>.</li></ul><ul><li>Development of Thane land may be capital light, he said but stopped short of divulging details. </li></ul><ul><li>Do not paint Raymond with the same brush as other promoters, he hit back on the question of governance. </li></ul>Gautam Singhania, the second-generation promoter of Raymond Limited, whose businesses span from branded apparel and textile to fast-moving consumer goods to engineering and auto parts, is hoping that the business will increase its free cash flow as early as the current financial year that ends on March 31, 2019. Raymond’s stock price has multiplied over two-and-a-half times in the last three years. This, at a time when the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) was negative, and it has turned into the black only now. 
 
 
 
 
 
 
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 The company posted a profit in four out of last five quarters. Most recently, the company declared a net profit of ₹ 260 million in the three months between October and December 2018. and Singhania is confident that it will only improve hereon. 
 
 
 
 
 
 
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 The company’s debt has been a cause for concern in the Indian markets for long. But Singhania is not bothered by it. “At the end of the day, Raymond has a net debt of about ₹2,300 crores. I don’t sleep with a net debt of ₹2,000 crores, people with debt 20 times and 50 times the size sleep easy. I don’t know why we are worried about Raymond’s debt,” he candidly said. The plan to unlock value by selling a 20-acre land in Thane, in the outskirts of Mumbai, as well as non-core business like engineering and auto parts is on track, he said. The money from these sales will go into repaying debt, but Singhania is in no hurry. “At the end of the day you have to understand one thing, I will do it to the best of my ability and number two, I am the biggest gainer. That’s all I am concerned with. I will do whatever is in the best interest of shareholders. I am the largest shareholder,” he said. The company, which was admittedly looking to pare down debt by selling the Thane land, <a href="https://economictimes.indiatimes.com/markets/expert-view/gautam-singhania-on-affordable-housing-foray-schools-and-expanding-raymond-into-small-towns/articleshow/67974132.cms">announced recently</a> that it would develop the project on its own instead. This may raise concerns on whether the company would end up adding to the debt in the process. But Singhania dismissed those fears, saying, “What makes you say that developing on our own cannot be capital light? That’s your assumption. I am not going to tell how I am going to do it. How I do it, I am not at liberty to discuss it with you.” The flamboyant 53-year-old who loves fast cars, high-flying private jets, and cruising speed boats has also faced some <a href="https://economictimes.indiatimes.com/markets/stocks/news/raymond-rebounds-7-after-clarification-on-related-party-transaction-report/articleshow/67895858.cms">tough questions on corporate governance</a> in recent times, which he has vehemently denied. “You are not willing to accept that I am the only promoter in the country who has stepped off his own companies as chairman, has put in the highest level of corporate governance in the system, has got outside directors and outside professionals to take over as chairman. I have the best advisory board in the country. Don’t paint Raymond with the same paint brush as other promoters. Show me one other promoter who has done what Raymond has done, then talk to me,” Singhania said demanding credit for bringing in transparency in governance. 
 
 
 
 
 
 
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 Analysts seem to agree with Singhania’s narrative. “Over the last 2 years, a lot of changes in terms of management, brand positioning, disclosures, rationalising store network, etc. which have happened at Raymond post which the company has been steadily improving its performance on guided lines,” Edelweiss said in a report earlier this month. Room for growth Singhania is betting on Raymond’s scale and reach, and its well-known brand. “See, you always will have some competition, and it’s good. Some of the big brands will come to Mumbai, Delhi, Kolkata, Chennai. Raymond today is in Tier-10 towns, we are 515 towns, we are competing in a different marketplace as well. A foreign brand in our space, I don’t want to take names, has been in this country for 30 years and it makes $2 million a year. It’s irrelevant to me. It doesn’t bother me,” he said. Additionally, Raymond’s franchisee model allows it to reach deeper into smaller towns without having to invest big money. “In the last 18 months, Raymond has added over 200 mini-TRS (The Raymond Shop) stores in over 180 towns, penetrating smaller cities,” PhillipCapital said in a note this month. As of now, the company makes over 70% of its revenue from textiles and branded apparel. Going forward, there will be an added focus on relatively new verticals like fast-moving consumer goods space, said Singhania. Having decoupled the group companies from the parent through management changes, the FMCG vertical will have to make its own business decisions. “It’s a separate business. It will find its own capital. If it requires capital, it will find it. It’s a professionally run company. Raymond capital doesn’t have to go there. Raymond will only put capital there only if it believes it wants to. The company will grow on its own steam. If it wants capital, it can go to the market and raise private equity or debt,” Singhania said.

EXCLUSIVE: Two revelations and a fiery defence from Raymond’s boss Gautam Singhania

<ul class="summary-list"><li><keyword id="184806" type="COMPANY" weightage="60" keywordseo="Raymond-James">Raymond James</keyword> initiated coverage on <keyword id="18542" type="COMPANY" weightage="60" keywordseo="AMD">AMD</keyword> Thursday with an "outperform" rating and a $100 price target.</li><li>Analysts led by Chris Caso said the company has a "durable technical advantage" over <keyword id="28115" type="CITY" weightage="60" keywordseo="Intel">Intel</keyword>.</li><li>The team used a 36x multiple on 2022 EPS estimates to arrive at their price target.</li></ul>Raymond James initiated coverage on <a href="https://markets.businessinsider.com/stocks/amd-stock">Advanced Micro Devices</a> (AMD) with an "outperform" rating and a $100 price target on Thursday.The price target represents a potential 19% jump from Thursday's intraday highs.In their note to clients, analysts led by Chris Caso cited AMD's "durable technical advantage" over <a href="https://markets.businessinsider.com/stocks/intc-stock">Intel</a> and growing server business as key reasons for their bullish view.The analysts said that Intel's decision to stick with internal manufacturing has cemented AMD's technology lead through 2024 and that the stock's recent pullback is a buying opportunity."We think the stock's pullback has been driven by improved sentiment that Intel will solve their manufacturing challenges, which will reverse AMD's successes. We're taking the other side of that view," Caso and his team wrote."Now that Intel has committed to internal manufacturing, we think it's unlikely that Intel ever regains a transistor advantage vs. AMD," Caso added. Intel announced last month it would double down on its in-house chip manufacturing business with plans to <a href="https://www.businessinsider.com/intel-pat-gelsinger-20-billion-manufacturing-factories-fabs-semiconductors-2021-3">spend $20 billion</a> on two new Arizona factories. The Santa Clara, California-based firm also plans on opening up its chip foundries to other companies so they can build their own designs.The move came after VMWare's Pat Gelsinger <a href="https://www.businessinsider.com/intel-new-ceo-pat-gelsinger-serious-solving-biggest-problems-2021-1">took over as CEO</a> in January.Raymond James analysts explained how Intel's move to stick with its 7 nanometer(nm) process for internal manufacturing while AMD is moving to Taiwan Semiconductor's 5nm process next year-and likely to 3nm by 2024-is a big problem for the firm.According to the analysts, the decision means AMD will hold a transistor advantage over Intel for at least the next three years.Caso and his team also discussed cloud market share growth in their note to clients, calling it an important driver for AMD moving forward.The analysts said the launch of <a href="https://www.businessinsider.com/amd-launches-milan-chip-for-data-centers-as-battle-with-intel-intensifies-2021-3">AMD's 'Milan' chip for data centers</a> represents the firm's first move into the enterprise server market and that a number of server OEMs are launching AMD designs for the first time this year. The team of analysts expects 59% year-over-year growth in the segment.As far as risks to AMD's rise, Raymond James said a slowdown in PC sales could hurt revenue growth and that they "believe pandemic PC purchases pulled forward demand for several years."However, the investment bank's analysts noted that AMD's increasing market share of PC sales and enterprise servers will mitigate much of the demand drawdown.Finally, Raymond James expects 2022 earnings per share to hit $2.81, 12% ahead of the Street's consensus estimates. The analysts used a ~36x multiple on their 2022 EPS estimate to reach their $100 price target.The team said they believe much of the bear case around AMD is due to fears of Intel's resurgence, but they "don't expect there to be much to catalyze those fears for a long while."

AMD could rise 19% due to its durable technical advantage over Intel, Raymond James says

The shopping scenario in the last couple of years has gone through a massive shift across all segments in India, luxury segment is no different. Luxury goods are becoming more and more affordable and easily available to the consumers. It’s not just the high net worth individuals who are donning the latest trends available in the hi-end segment but with consumers overall are warming up to the idea of E.M.I options for their luxe shopping, jump from hi-street to hi-end has become rather easy. 

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A watching trend When it comes to watches which are a novelty item for most, luxury brands are a favorite. Leading the growth story of watches with 40% <keyword id="34527" type="B2BTAGS" weightage="40" keywordseo="market-share">market share</keyword> online, <keyword id="6354742" type="B2BCOMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword> has been witnessing an unusually high demand for premium watches which has been fuelled by an increase in brand awareness and purchasing power of Indian shoppers. According to a recent study released by <keyword id="6355988" type="ORGANIZATION" weightage="20" keywordseo="assocham">ASSOCHAM</keyword>, the luxury retailing will grow at 25 per cent from 2013 till 2018 and is likely to touch $ 18 billion mark from the ongoing level of $ 14 billion by the end of 2018. At Flipkart, the projected growth momentum in this segment has been exceeded where premium watches priced between 15-20K have witnessed close to 250% YoY growth while premium watches priced over 10K have witnessed a 200% YoY growth in sales.

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 With the category currently contributing to 10% of the overall watches business, Flipkart aims to increase this to 15% by the end of 2017 which translates into tie-ups with the brands such as Rado, <keyword id="54994" type="UNKNOWN" weightage="20" keywordseo="Tag-Heuer">Tag Heuer</keyword>, Longines, Movado, <keyword id="6368261" type="B2BCOMPANY" weightage="20" keywordseo="Raymond">Raymond</keyword> Weil, Fredrique Constant, Tissot and others. Ruling roost Men however lead the way at least in this category, “Close to 55% of sales in this category come from metros and tier I cities, with a majority of sales being concentrated in Delhi. Men contribute to close to 75% sales in this category. We aim to maintain this category’s growth momentum by increasing it by 4X times during the upcoming ‘The Big Billion Days’. A couple of exclusive lines with best-selling luxury watch brands too are in the works for the festive sale season,” Rishi Vasudev, Head- Flipkart Fashion told Business Insider. With easy options such as ‘No Cost <keyword id="6357050" type="ORGANIZATION" weightage="20" keywordseo="emi">EMI</keyword>’ and ‘Buy Now Pay Later available for buying luxury goods online, Vasudev credited the rise of luxury watch category to the 'price-conscious' consumers for whom the 'timing' couldn't be better to invest in that hi-end watch they always aspired to buy.

Online luxury watch segment is growing over a whopping 200% in India, Flipkart Fashion Head explains why

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul><li><a href="https://markets.businessinsider.com/stocks/ua-stock">Under Armour</a> shares jumped Wednesday after Raymond James upgraded its rating of the stock.</li><li>The sportswear company confirmed this month it was under investigation for its past accounting practices. </li><li><a href="https://www.wsj.com/articles/inside-under-armours-sales-scramble-pulling-forward-every-quarter-11573777489?mod=hp_lead_pos1">The Wall Street Journal</a> reported this month that authorities were looking into whether Under Armour had manipulated its quarterly sales to appear stronger. </li><li><a href="https://www.businessinsider.com/?hprecirc-bullet" target="_blank" rel="noopener">Visit Business Insider's homepage for more stories</a>.</li></ul><a href="https://markets.businessinsider.com/stocks/ua-stock">Under Armour</a> shares jumped Wednesday after Raymond James upgraded its rating of the stock, which has fallen sharply since the sportswear company confirmed it was under investigation for its past accounting practices. The financial services firm lifted Under Armour to a "strong buy" from "outperform," predicting that product sales and infrastructure would allow it to grow earnings 40% through 2023. It kept its price target for the Baltimore based-company at $30. On Wednesday, shares of Under Armour rose as much as <a href="https://markets.businessinsider.com/stocks/ua-stock">7.4%</a> to $19.39. The company has faced a wave of negative headlines this year, saying in early November that it had been cooperating in probes by the Justice Department and the Securities Exchange Commission that date back to 2017. <a href="https://www.wsj.com/articles/inside-under-armours-sales-scramble-pulling-forward-every-quarter-11573777489?mod=hp_lead_pos1">The Wall Street Journal</a> reported this month that authorities were looking into whether Under Armour had manipulated its quarterly sales to appear stronger. A spokesperson said in a subsequent statement that the company "firmly believes its accounting practices and related disclosures were appropriate." Raymond James said investors expected minimal impact from the criminal probe."This falls in line with our view for this event to largely be immaterial and unrelated to the fundamental story for an inflection in the business in spring 2020," the financial services firm said, <a href="https://www.cnbc.com/2019/11/27/under-armour-is-underrated-underdog-raymond-james-says-in-upgrade.html">according to CNBC</a>.

Under Armour surges as much as 7% after Raymond James upgrade

<ul class="summary-list"><li>Biden blasted <keyword id="12395930" type="UNKNOWN" weightage="60" keywordseo="exxon-mobil" source="Orion">Exxon Mobil</keyword> for making "more money than God this year."</li><li>His comments come after another disappointing <keyword id="11894140" type="UNKNOWN" weightage="60" keywordseo="inflation" source="Orion">inflation</keyword> report that again shows record prices.</li></ul>President <keyword id="99719" type="UNKNOWN" weightage="60" keywordseo="joe-biden" source="Orion">Joe Biden</keyword> blasted Exxon on Friday, taking the energy giant company to task for <a href="https://www.businessinsider.com/gas-prices-oil-company-profits-skyrocketing-energy-sector-earnings-charts-2022-5">raking in record profits</a> as Americans pay record-high prices at the pump."We're gonna make sure that everybody knows Exxon's <keyword id="6409995" type="UNKNOWN" weightage="60" keywordseo="profits" source="Orion">profits</keyword>," Biden said in response to a question after the conclusion of a speech in California about rising inflation. "Exxon made more money than God this year and, by the way, nothing has changed."Earlier Friday morning, the Labor Department reported that the Consumer Price Index, a key inflation indicator, rose 8.1% in May. That means soaring prices are once again hitting record highs, t<a href="https://www.businessinsider.com/inflation-report-cpi-may-gas-prices-federal-reserve-rate-hikes-2022-6">his time notching the highest point since December 1981</a>. And once again, energy costs were the leading driver. As to Biden's point about Exxon, the company's shares closed on Thursday at their highest level since 2014, <a href="https://www.wsj.com/articles/exxons-stock-poised-for-first-record-high-in-eight-years-11654707255">The Wall Street Journal reported. </a>The Journal, citing FactSet, said that Exxon was trading "this week at 11 times its projected earnings over the next 12 months." A representative for Exxon did not immediately respond to a request for comment.The surge signals a massive turnaround for energy companies that saw their fortunes plummet during the worst months of the COVID-19 pandemic. <keyword id="13283272" type="UNKNOWN" weightage="60" keywordseo="oil-companies" source="Orion">Oil companies</keyword> scaled back production <a href="https://twitter.com/JosephPolitano/status/1517613496418062337?s=20&amp;t=d-vbY-jaBgYP07L972nLeQ">after experiencing</a> a crash in the global demand for oil. At one point in April 2020, <a href="https://www.businessinsider.com/oil-price-crash-what-analysts-are-saying-2020-4">it had some traders</a> paying buyers to take oil off their hands.But as the world resumes more normal economic activity and people travel again, demand for oil has skyrocketed. That's contributed to a spike in <keyword id="11994710" type="UNKNOWN" weightage="60" keywordseo="gas-prices" source="Orion">gas prices</keyword>, which continue reaching record levels. The average price for a gallon of regular gasoline is nearing $5 per gallon, <a href="https://gasprices.aaa.com/">per AAA. </a>They're likely to remain high for the foreseeable future. "It's unlikely that gas prices will fall anytime soon," Treasury Secretary Janet Yellen <a href="https://markets.businessinsider.com/news/commodities/janet-yellen-avoid-us-recession-gas-prices-stay-high-2022-6">said Thursday.</a>Biden also trotted out one of his favorite statistics, that oil companies currently hold more than 9,000 unused permits to drill on federal lands. <a href="https://www.politifact.com/factchecks/2022/mar/09/joe-biden/fact-checking-bidens-claim-there-are-9000-unused-o/">Politifact previously ruled a related claim about this "mostly true</a>," but cautioned that oil companies usually must do a lot more than hold a permit before they can begin drilling. Analysts have also said that current financial incentives are also in favor of companies that are more cautious about how many wells they drill."Oil and gas companies do not want to drill more," Pavel Molchanov, an analyst at Raymond James,<a href="https://www.cnn.com/2022/03/02/energy/us-oil-production/index.html">told CNN in March</a>. "They are under pressure from the financial community to pay more dividends, to do more share buybacks instead of the proverbial 'drill baby drill,' which is the way they would have done things 10 years ago. Corporate strategy has fundamentally changed."

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