Antique initiates on Flair Writing Industries with 'Buy', sees 60% upside

Antique initiates on Flair Writing Industries with 'Buy', sees 60% upside


Antique Stock Broking has initiated coverage on Flair Writing Industries, a writing instruments manufacturer, with a ‘Buy’ rating, citing the company’s improving growth trajectory driven by strong performance in emerging segments such as creative stationery and steel bottles & houseware. 


The brokerage expects Flair to deliver a revenue, Ebitda, and PAT CAGR of 16 per cent, 21 per cent, and 21 per cent, respectively, over FY25–28E. This growth will be driven by stable expansion in its own-branded pen business, strong momentum in emerging categories, improving operating leverage supporting margins, and better working capital efficiency aiding free cash flow generation. 

The brokerage has initiated coverage with a target price of ₹520, valuing the stock at 26x FY28 estimated earnings. The target price implies a potential upside of about 60 per cent from the April 16, 2026, closing level of ₹326 on the NSE. Around 01:40 PM, shares of Flair Writing were trading at ₹334.25, up 2.44 per cent. The stock touched an intraday high of ₹339.30 on the NSE. In comparison, the benchmark NSE Nifty50 was quoting at 24,299.50 levels, up by 102.75 points or 0.42 per cent.  
READ | Dixon Tech stock: MOFSL sees 30% upside, flags near-term margin pressure

 


Here’s why Antique Stock Broking is bullish on Flair Writing:


Emerging segments to drive incremental growth


According to the brokerage, the company’s core pens segment, which contributes around 68 per cent of sales, has witnessed muted growth of 4.8 per cent Y-o-Y during 9MFY26, largely due to a decline in domestic OEM demand. However, the company has steadily increased its focus on its own brands, with their contribution rising from 83 per cent in FY23 to 91 per cent in 9MFY26. 


Flair’s re-entry into the ₹5 price point and the strong performance of Hauser XO in the ₹10 segment have supported volume momentum, with own-brand volumes growing 11 per cent during 9MFY26, the brokerage said. 


Additionally, emerging segments are expected to remain the key growth driver, with management targeting over 45 per cent CAGR during FY25–FY28, supported by aggressive new launches, expansion in creative stationery sub-categories, and wider distribution in steel bottles and housewares. These segments are expected to contribute around 40 per cent of the overall business by FY28.


Ebitda margin bottoming out


Antique expects Flair’s operating leverage to support Ebitda margins over the medium term. In recent quarters, Ebitda margin pressure was observed due to gross margin volatility and higher employee-related investments in the emerging segments. 


The brokerage expects gross margins to stabilise at around 51 per cent in FY27 and FY28, supported by economies of scale and an increasing contribution from premium products. Flair has also stepped up hiring across marketing and sales functions to support growth in emerging categories, with employee expenses rising 29 per cent Y-o-Y during 9MFY26. 

“The impact of elevated employee costs was partially offset by improved automation in manufacturing. Moving ahead, employee and other expenses are expected to grow lower than revenue growth, leading us to an estimated Ebitda margin of 19.2 per cent by FY28,” the brokerage said in its note. 
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Improvement in working capital to generate free cash flow


Flair’s working capital cycle has gradually deteriorated in recent years, driven by the launch of new SKUs that required higher inventory levels and longer credit periods. The extended credit is being used to support the initial product offtake and gather market feedback on new launches. 


While management had earlier guided for a 10-day improvement in FY26 over FY25, this now appears unlikely amid geopolitical disruptions that have impacted inventory and receivables, particularly in export markets, it said. 


Over the medium term, working capital days are expected to improve to around 142 days by FY28, compared with 166 days in FY25. This improvement is likely to support stronger free cash flow generation, which can be deployed towards additional capex or inorganic expansion opportunities. 
Disclaimer: View and outlook shared belong to the respective brokerages/analysts and are not endorsed by Business Standard. Readers’ discretion is advised.



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Google integrates Gemini's Personal Intelligence with Nano Banana imaging

Google integrates Gemini's Personal Intelligence with Nano Banana imaging



Google is introducing a new feature in its Gemini app that makes AI-generated images more personal. Powered by “Personal Intelligence” and Nano Banana 2, it will let users create images using their Google Photos library without uploading pictures or writing long prompts. The update will generate more relevant results by using familiar faces, pets and moments, while also giving users control to refine and adjust outputs. It will also give users more control over how images turn out, with options to refine results and try different variations.


What is Personal Intelligence?


According to Google, Personal Intelligence is a feature that allows Gemini to understand your digital activity across different Google apps and use that information to provide tailored responses. It connects apps like Gmail, Google Photos, YouTube and Search in one place, but only if the user chooses to enable it.

 


Personal Intelligence with Nano Banana


Personal Intelligence helps Gemini understand your preferences from the start. By working with Nano Banana 2, it can automatically fill in details and create images based on what matters to you. Since it is built into the Gemini app, there is no extra setup if your Google apps are already connected.

 


This makes things simpler. Instead of writing long, detailed prompts, users can use short ones like “Design my dream house” or “Create a picture of my desert island essentials,” and Gemini will generate images that match your tastes and lifestyle.


Creating images with personal photos

 


According to Google, Gemini can use images from a user’s Google Photos library to generate customised visuals by recognising people, pets and moments already organised and labelled. This context helps create more personal results, allowing users to include themselves, family and friends in different styles, whether they want realistic images or more imaginative creations.

 


For example, users can ask Gemini to create an image of themselves and their family in a specific style, such as claymation or a watercolour painting. Since the app already understands labels and faces from Google Photos, it can generate results that feel more connected to real-life moments. This removes the need to search, download and upload images separately.

 


Google said users will still have control over how their images turn out. If the result isn’t accurate, they can refine it by giving feedback or choosing a different reference image from their library. They can also tap the ‘+’ icon to select another photo from Google Photos and try a new perspective. There is also an option to check which photo was used to generate the image through a “Sources” feature. The company said that this makes it easier to adjust details and try different versions until the output matches what the user wants.


Privacy and availability

 


Google has highlighted that privacy remains unchanged with this feature. Google said it uses only limited data, such as specific prompts in Gemini and the model’s responses, to improve performance over time. It also added that connecting Google apps to Gemini is optional and can be managed or changed anytime through settings.

 


The personalised image feature is currently rolling out to select Gemini subscribers in the US, including Google AI Plus, Pro and Ultra users. Google plans to expand availability to more users and platforms, including Chrome desktop, in the future.

 



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क्या फोन दूर होते ही हो जाते हैं बेचैन, जानें स्क्रीन कैसे बना रही समय से पहले बूढ़ा?

क्या फोन दूर होते ही हो जाते हैं बेचैन, जानें स्क्रीन कैसे बना रही समय से पहले बूढ़ा?


Why You Feel Anxious Without Your Phone: अगर फोन आपसे थोड़ी देर के लिए भी दूर हो जाए और आपको बेचैनी होने लगे, तो यह सिर्फ आदत नहीं, बल्कि एक संकेत है कि स्क्रीन आपकी बॉडी और दिमाग पर असर डाल रही है. हाल की रिपोर्ट के मुताबिक, भारत में लोग 2024 में कुल 1.1 ट्रिलियन घंटे स्मार्टफोन पर बिताते रहे यानी औसतन हर व्यक्ति करीब 5 घंटे रोज स्क्रीन पर रहता है. चलिए आपको बताते हैं कि इससे कैसे आपको दिक्कत का सामना करना पड़ रहा है. 

समय से पहले बना रही आपको बूढ़ा

यही बढ़ता स्क्रीन टाइम धीरे-धीरे शरीर के अंदर एक ऐसी प्रक्रिया शुरू कर देता है, जो समय से पहले बूढ़ा होने की वजह बन सकती है. सबसे पहला असर पड़ता है नींद पर. रात में फोन चलाने से निकलने वाली ब्लू लाइट शरीर में बनने वाले मेलाटोनिन हार्मोन को दबा देती है, जो नींद के लिए बेहद जरूरी है. एनपीजे डिजिटल हेल्थ में पब्लिश रिसर्च भी बताती है कि जितना ज्यादा रात में स्क्रीन का इस्तेमाल होगा, नींद उतनी ही खराब होगी.

यह भी पढ़ें –  ग्रेड-1 फैटी लिवर में फायदेमंद हो सकता है मेथी का पानी, जानिए इसके चौंकाने वाले फायदे

सोचने-समझने की क्षमता प्रभावित 

नींद की कमी सिर्फ थकान तक सीमित नहीं रहती. इसका सीधा असर दिमाग पर पड़ता है. रिसर्च में पाया गया है कि इससे दिमाग की मेमोरी से जुड़ी स्ट्रक्चर कमजोर होने लगती हैं और सोचने-समझने की क्षमता प्रभावित होती है.  द लैंसेट कमीशन (2024) की रिपोर्ट में तो यहां तक कहा गया है कि नींद की समस्या डिमेंशिया के बड़े कारणों में शामिल हो रही है. यह असर सिर्फ दिमाग तक नहीं रुकता. फ्रंटियर्स इन माइक्रोबायोलॉजी (2023) में प्रकाशित स्टडी के अनुसार, ज्यादा स्क्रीन टाइम और खराब नींद का सीधा असर हमारे गट माइक्रोबायोम पर पड़ता है. यानी पेट में मौजूद अच्छे बैक्टीरिया का संतुलन बिगड़ने लगता है. यही कारण है कि स्क्रीन एडिक्शन से एंग्जायटी, लो मूड और स्ट्रेस बढ़ने लगता है.

क्या कहते हैं एक्सपर्ट?

Dr. Aaron Hartman बताते हैं कि नींद, स्ट्रेस और गट हेल्थ, ये तीनों एक-दूसरे से जुड़े हैं, इनमें से एक भी खराब हुआ तो बाकी भी प्रभावित हो जाते हैं. इसके अलावा, जेरोसाइंस (2024) की स्टडी बताती है कि रात में आर्टिफिशियल लाइट के संपर्क में रहने से शरीर में सूजन बढ़ती है, जो दिमाग तक पहुंचकर न्यूरोइन्फ्लेमेशन पैदा कर सकती है. यही प्रक्रिया तेजी से बढ़ती उम्र का कारण बनती है. Dr. John La Puma ने इसे “डिजिटल ओबेसिटी” नाम दिया है, जहां स्क्रीन की लत शरीर और दिमाग दोनों को धीरे-धीरे नुकसान पहुंचाती है. हर नोटिफिकेशन के साथ मिलने वाला डोपामिन दिमाग को उसी तरह प्रभावित करता है, जैसे किसी लत में होता है.

इसे भी पढ़ें – Hot Water Benefits: वजन कम करने के लिए सुबह-सुबह आप भी पीते हैं गर्म पानी, क्या सच में काम करता है यह हैक?

Disclaimer: यह जानकारी रिसर्च स्टडीज और विशेषज्ञों की राय पर आधारित है. इसे मेडिकल सलाह का विकल्प न मानें. किसी भी नई गतिविधि या व्यायाम को अपनाने से पहले अपने डॉक्टर या संबंधित विशेषज्ञ से सलाह जरूर लें.

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Zaggle Prepaid bags contract from Federal Bank for employee expense management platform

Zaggle Prepaid bags contract from Federal Bank for employee expense management platform


Zaggle Prepaid Ocean Services said that it has received a contract from The Federal Bank to provide its Zaggle Save platform for employee expense management and benefits.

The agreement is for a three-year period and involves deployment of the companys employee expense and benefits solution for the bank.

Zaggle clarified that the contract has been awarded by a domestic entity and does not involve any related-party transactions.

Zaggle Prepaid Ocean Services (Zaggle) is a leading player in spend management, with a differentiated value proposition and diversified user base. The company operates in the business-to-business customer segment. The companys standalone net profit surged 77.7% to Rs 35.97 crore on a 47.9% rise in revenue from operations to Rs 497.63 crore in Q3 FY26 over Q3 FY25. The scrip shed 0.13% to Rs 263.65 on the BSE.

 

The Federal Bank (the Bank) was incorporated in 1931 as Travancore Federal Bank Limited. It provides retail and corporate banking, para banking activities such as debit card, third party product distribution etc., treasury and foreign exchange business. The banks standalone net profit rose 9% to Rs 1041.21 crore on 3.1% jump in total income to Rs 7,967.79 crore in Q3 FY26 over Q3 FY25. The scrip added 2.57% to Rs 291.60 on the BSE.

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Apr 17 2026 | 1:04 PM IST



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White House works to give US agencies Anthropic Mythos AI

White House works to give US agencies Anthropic Mythos AI


The US government is preparing to make a version of Anthropic PBC’s powerful new artificial intelligence model available to major federal agencies amid concerns that the tool could sharply increase cybersecurity risk, according to a memo reviewed by Bloomberg News.

Gregory Barbaccia, federal chief information officer of the White House Office of Management and Budget, told officials at Cabinet departments in an e-mail Tuesday that OMB is setting up protections that would allow their agencies to begin using the closely guarded AI tool, Mythos. 

The e-mail doesn’t say definitively that the various agencies will get access to Mythos, nor does it provide a timeline for when it might come or how they might use it. It tells top technology and cybersecurity chiefs to expect more information “in the coming weeks.” 

US officials have previously urged private sector organisations to use Mythos to improve their cybersecurity. The Treasury Department has been seeking access to Mythos in order to uncover its own software flaws, Bloomberg has reported.

Anthropic has only provided Mythos to a limited group of technology companies, financial firms and others, urging them to use it to assess their cybersecurity risk. The firm limited the release of Mythos amid concerns that hackers could weaponise its capabilities to steal data or sabotage victim networks.

Before its limited release of Mythos, Anthropic briefed senior officials across the US government on the model’s full capabilities, including both its offensive and defensive cyber applications, according to a company official who spoke on condition that they not be identified discussing the talks with government. The talks included staff at the Cybersecurity and Infrastructure Security Agency and the Center for AI Standards and Innovation, among others, the company official said, and Anthropic has continued to work with government on security issues arising from the model. 

Barbaccia’s message was sent as leaders from Washington to Wall Street are grappling with the possibility that the model could make it dramatically easier for hackers to find ways to break into sensitive computer systems in industry and government. 

“We’re working closely with model providers, other industry partners, and the intelligence community to ensure the appropriate guardrails and safeguards are in place before potentially releasing a modified version of the model to agencies,” Barbaccia wrote in the email, which had the subject, “Mythos Model Access.”

A White House official said in an email that the government continues to work and engage with AI companies to ensure their models help secure critical software vulnerabilities. They didn’t answer specific questions on the matter. 

Anthropic declined to comment. 

Neither Anthropic nor the government said what, if any, federal agencies have gotten early access to Mythos.

Barbaccia’s email went to officials with the Department of Defense, Department of Treasury, Department of Commerce, Department of Homeland Security, Department of Justice and Department of State, among several other agencies. 

The move to roll a version of Mythos out to the agencies signals the government’s continued interest in Anthropic’s tools despite a public spat and ongoing legal fight between the company and top Trump administration officials.

The Pentagon this year declared Anthropic a supply chain threat, under an authority normally reserved for foreign adversaries, over a dispute over artificial intelligence safeguards. The company won a court order last month blocking a ban on government use of the technology, after Anthropic argued the move could cost it billions of dollars in lost revenue.

Within Anthropic, company leaders became worried the model could be a national security risk after testers were able to use Mythos to turn up the types of critical bugs that it would normally take the world’s best hackers to uncover. These concerns prompted the company’s limited release of the model.

It’s similarly set off alarms in various parts of the US government.

Among officials focused on national defence, the introduction of Mythos has created profound uncertainty about how to evaluate cybersecurity risk, a person familiar with the matter previously told Bloomberg. Equipping an individual hacker with the model, or similar AI tools, would likely be a transformation equivalent to turning a conventional soldier into a special forces operator, the person said.

On the day, Anthropic publicly disclosed Mythos’ existence, US Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell convened Wall Street leaders for a meeting in Washington to urge them to use the model to find weaknesses in their own systems.

More stories like this are available on bloomberg.com

©2026 Bloomberg L.P.

Published on April 17, 2026



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