Broker’s call: Orient Electric (Buy)

Broker’s call: Orient Electric (Buy)


ICICI Securities

Target: ₹200

CMP: ₹161.15

Q4-FY26 is shaping up to be a decent quarter for Orient Electric (Orient), aided by stable demand across fans, lighting, switchgear and wires.

We note that it has taken calibrated price hikes of about 4-5 per cent in fans in Q4FY26 and we expect further price hikes in coming quarters to offset inflationary pressure; it continues to focus on premiumisation, especially in BLDC fans, to support margins; lighting segment could outgrow peers, with consumer lighting and premiumisation tracking well, though sourcing and pricing may remain volatile; Air cooler sales may be impacted by unseasonal rains in late Mar’26 in North India; and Switchgear and wires are expected to grow in high double digits, albeit on a low base; however, procurement-linked volatility may impact the supply chain.

The focus remains on increasing the share of BLDC fans, which should likely support realisations and margins going ahead, in our view

While near-term margins may see some pressure due to the partial passthrough of costs, we believe a gradual recovery is likely led by the improvement in product mix and operating leverage.

We model Orient to report revenue and PAT CAGRs of 11.7 per cent and 25.4 per cent, respectively, over FY25–28E. We expect RoE to remain above 13 per cent over FY26-28E. We maintain Buy with a DCF-based revised target price of ₹200 (earlier ₹210).

Key risks: Steep increase in competitive pressures and commodity inflation.

Published on April 6, 2026



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The Hindu Group, SRMIST inaugurate two-day Deep Tech Summit 2026

The Hindu Group, SRMIST inaugurate two-day Deep Tech Summit 2026


( from left ) L V Navaneeth, CEO, The Hindu Group; Panneerselvam Madanagopal, CEO, MeitY Startup Hub; Amitesh Kumar Sinha, Additional Secretary, MeitY and CEO- India Semiconductor Mission; C Muthamizhchelvan,Vice- Chancellor, SRM Institute of Science and Technology; and B Govindarajan, CEO, Royal Enfield India at the inaugural session of The Hindu DeepTech Summit 2026 presented by SRM Institute of Science and Technology, in Chennai.
| Photo Credit:
BIJOY GHOSH

“The Ministry of Electronics and IT, in partnership with other ministries, is doing something in deep tech, and there is push from the government on policy front,” said chief guest Amitesh Kumar Sinha, Additional Secretary, Ministry of Electronics and Information Technology (MeitY), and CEO, India Semiconductor Mission. He was addressing the audience during the inaugural ceremony of The Hindu Deep Tech Summit 2026 by The Hindu Group, in association with the SRM Institute of Science and Technology (SRMIST) here on Monday.

“Semiconductors form an industry with many verticals. Though India accounts for nearly 20 per cent of the world’s design engineers, we don’t have our own design companies which is a challenge. The India Semiconductor Mission has a few verticals to address, and we started with design, manufacturing, and packaging,” Sinha said. “To further deepen this conversation, we are now working towards developing a complete ecosystem under the India Semiconductor Mission 2.0. This will expand beyond the first phase to include materials, research and development, chemicals, gases, equipment manufacturing, and skilling,” he added.

LV Navaneeth, CEO,The Hindu Group, said deep tech is no longer confined to laboratories and research papers. He said that it is shaping economies, redefining industries, and influencing the way people live, work and think. “From semiconductors and artificial intelligence to advanced materials and space technologies, the next decade belongs to those who can engineer the future, not just imagine it,” he added.

C Muthamizhchelvan, Vice Chancellor, SRM Institute of Science and Technology said that the universities have been sending out talented graduates but not always solutions. He said that the functioning of universities needs to be shaped from an academia perspective. “A deep tech summit like this will eventually bridge the gap between intellectual potential on campuses and the expected impactful solutions for the global challenges. The question we need to ask is are we really equipping our students how to build, what to think? Do we have sufficient infrastructure for laboratories for students and faculties to explore beyond what is prescribed in the curriculum and are we opening up to industries?” he said.

Panneerselvam Madanagopal, CEO, MeitY Startup Hub, (MSH), Ministry of Electronics & Information Technology, said that the need for industry-academia collaboration is extremely critical. “Mentoring, market access, and money are the support that we provide at MeitY Startup Hub. But the challenge today in India is we have a lot of me-too start-ups. We need to look for fundamentally strong companies which are worthy of investment, solving real problems, and driving change in the ecosystem,” he added.

role of deep tech

B Govindarajan, CEO of Royal Enfield India, spoke about the role of deep tech in the automobile industry. He also said that there is immense opportunity for MSMEs too, today about how six crore MSMEs in India are performing well. “For the young minds who are into research and innovation, funding is not a challenge – both Indian industries and the government are ready to support ideas that solve real-world problems,” he said.

The industry partner for the event is Madras Management Association and the Knowledge partners include IHFC, Technology Innovation Hub of IIT Delhi, Ivy Club – Chennai, Sathguru Catalysing Success, 2C Stem Steering Technology Management, BIRAC, Bio-Nest, Niti Aayog Atal Innovation Mission, DPIIT #startupindia, and the ecosystem partner is Startup Singam.

 

Published on April 6, 2026



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Gold rises over 1% to ₹1.51 lakh/10g in futures trade

Gold rises over 1% to ₹1.51 lakh/10g in futures trade


Gold prices rose over 1 per cent to ₹1.51 lakh per 10 grams in futures trade on Monday amid escalating geopolitical tensions in West Asia.

On the Multi Commodity Exchange, the yellow metal for June delivery climbed ₹1,621, or 1.08 per cent, to ₹1,51,301 per 10 grams, from Thursday’s closing level of ₹1,49,680 per 10 grams.

Commodity markets were closed on Friday due to Good Friday.

Since the onset of the conflict in West Asia, gold has lost its sheen by ₹14,358, or nearly 9 per cent, from ₹1,65,659 per 10 grams recorded on February 27, 2026.

In overseas markets, gold futures for June contract gained $47.55, or 1.02 per cent, to $4,727.25 per ounce.

According to analysts, market sentiment remained volatile after US President Donald Trump said he would bring “hell” to Iran and set a new deadline for Tuesday for the opening of the Strait of Hormuz.

Tehran has rejected the latest ultimatum and continued to carry out attacks on energy assets across West Asia.

Meanwhile, gold has struggled to perform its safe-haven role amid rising crude prices and expectations of tighter monetary policy by global central banks, analysts said.

“Gold remains down roughly 12 per cent since the conflict began, as surging energy prices fuelled inflation concerns and strengthened expectations of interest rate hikes,” Jigar Trivedi, Senior Research Analyst at IndusInd Securities, said.

He added that forced liquidations in precious metals to cover losses in other markets also weighed on prices.

Investors are now keeping a close watch on the geopolitical situation, and awaiting US macroeconomic data such as GDP numbers and CPI readings for further direction, Renisha Chainani, Head of Research at Augmont, said.

Traders will also closely watch the US Fed Reserve’s Federal Open Market Committee (FOMC) meeting minutes for signals on the interest rate cycle, she added.

On the outlook, Chainani expected gold prices to trade in the range of ₹1.44-1.54 lakh in the domestic markets this week.

Published on April 6, 2026



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Yes Bank names Vinay Muralidhar Tonse as MD & CEO

Yes Bank names Vinay Muralidhar Tonse as MD & CEO


Vinay Muralidhar Tonse has taken charge as Managing Director & Chief Executive Officer of YES Bank
| Photo Credit:
Balakrishnan K 4279@Chennai

Vinay Muralidhar Tonse has taken charge as Managing Director & Chief Executive Officer of YES Bank Ltd (YBL) with effect from April 6, 2026 for three years.

Tonse’s appointment follows Prashant Kumar demitting office as the MD & CEO of YBL on April 5, 2026.

Tonse, a 1988-batch Probationary Officer from SBI, last held the position of Managing Director (Retail Business and Operations) at India’s largest bank from November 2023 till November 2025.

Kumar, ex-Deputy Managing Director and CFO of SBI, first joined YBL as an Administrator in early March 2020. Later that month, he was appointed as MD & CEO following its reconstruction, which then entailed equity infusion of ₹10,000 crore from SBI and other domestic financial institutions.

Published on April 6, 2026



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UCO Bank records 19% rise in loan growth in Q4

UCO Bank records 19% rise in loan growth in Q4


State-owned UCO Bank on Monday reported a 19 per cent credit growth at ₹2.62 lakh crore in the January-March quarter of FY26.

Total advances were at ₹2.20 lakh crore in the year-ago quarter that ended in March 2025, UCO Bank said in a regulatory filing.

The Kolkata-based lender reported an 11 per cent rise in total deposits at ₹3.27 lakh crore during the reporting quarter, as against ₹2.94 lakh crore registered at the end of the fourth quarter of the preceding financial year.

During the period under review, low-cost CASA deposits improved to 38.48 per cent as compared to 37.91 per cent of total deposits in the fourth quarter of the preceding financial year, it said.

The bank’s total business (advances and deposits) increased by 15 per cent to ₹5.89 lakh crore from ₹5.14 lakh crore at the end of March 2025.

The government holds 90.95 per cent equity shares in the bank as of March 31, 2026.

Published on April 6, 2026



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ICICI प्रूडेंशियल: म्यूचुअल फंड में निवेश का तरीका, एक ही स्कीम में पाएं ग्रोथ-डेट की सुरक्षा

ICICI प्रूडेंशियल: म्यूचुअल फंड में निवेश का तरीका, एक ही स्कीम में पाएं ग्रोथ-डेट की सुरक्षा


PAK में 4 दिन काम, 50% WFH, बांग्लादेश में गैर-जरूरी यात्रा पर रोक, तेल संकट से कैसे निपट रहे भारत के पड़ोसी मुल्क?



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