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  • Bitcoin is at the doorstep of $100,000 as post-election rally rolls on

    Bitcoin is at the doorstep of $100,000 as post-election rally rolls on

    NEW YORK — Bitcoin topped $98,000 for the first time Thursday, extending a streak of almost daily all-time highs since the U.S. presidential election. The cryptocurrency has rocketed more than 40% in just two weeks.

    Now, bitcoin is at the doorstep of $100,000 and investors do not appear to be phased by gravity or any cautionary tales of the cryptocurrencies history of volatility.

    Cryptocurrencies and related investments like crypto exchange traded funds have rallied because the incoming Trump administration is expected to be more “crypto-friendly” than the outgoing Biden administration.

    As of 8:30 a.m. ET, bitcoin traded at $97,466 after rising as high as $98,349 according to CoinDesk.

    Yet cryptocurrency markets remain a wild place and what comes next is impossible to know. And while some are bullish, other experts are warning of investment risks.

    Here’s what you need to know.

    Cryptocurrency has been around for a while now but have come under the spotlight in recent years.

    In basic terms, cryptocurrency is digital money. This kind of currency is designed to work through an online network without a central authority — meaning it’s typically not backed by any government or banking institution — and transactions get recorded with technology called a blockchain.

    Bitcoin is the largest and oldest cryptocurrency, although other assets like Ethereum, Tether and Dogecoin have gained popularity over the years. Some investors see cryptocurrency as a “digital alternative” to traditional money — but it can be very volatile, with its price reliant on larger market conditions.

    A lot of the recent action has to do with the outcome of the U.S. election.

    Trump has evolved from a crypto skeptic to a crypto champion and has pledged to make the U.S. “the crypto capital of the planet” and create a “strategic reserve” of bitcoin. His campaign accepted donations in cryptocurrency and he courted fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies.

    Crypto industry players welcomed Trump’s victory, in hopes that he would be able to push through legislative and regulatory changes that they’ve long lobbied for. Trump also had promised that, if elected, he would remove the chair of the Securities and Exchange Commission, Gary Gensler, who has been leading the U.S. government’s crackdown on the crypto industry and repeatedly called for more oversight.

    Digital assets like bitcoin had posted notable gains in the months ahead of the election, mostly due to the early success of a new way to invest in the asset: spot bitcoin ETFs, which were approved by U.S. regulators in January.

    Inflows into spot ETFs, “have been the dominant driver of Bitcoin returns from some time, and we expect this relationship to continue in the near-term,” Citi analysts David Glass and Alex Saunders wrote in a research note two weeks ago. They added that spot crypto ETFs saw some of their largest inflows on record in the days following the election.

    In April, bitcoin also saw its fourth “halving” — a preprogrammed event that impacts production by cutting the reward for mining, or the creation of new bitcoin, in half. When that reward falls, so does the number of new bitcoins entering the market. And, if demand remains strong, some analysts say this “supply shock” can also help propel the price long term.

    History shows you can lose money in crypto as quickly as you’ve made it. Long-term price behavior relies on larger market conditions. Trading continues at all hours, every day.

    At the start of the COVID-19 pandemic, bitcoin stood at just over $5,000. Its price climbed to nearly $69,000 by November 2021, in a time marked by high demand for technology assets. Bitcoin later crashed during an aggressive series of Federal Reserve rate hikes aimed at curbing inflation. The collapse of FTX in late 2022 significantly undermined confidence in crypto overall and bitcoin fell below $17,000.

    Investors began returning in large numbers as inflation started to cool — and gains skyrocketed on the anticipation and then early success of spot ETFs. Experts still stress caution, especially for small-pocketed investors.

    Assets like bitcoin are produced through a process called “mining,” which consumes a lot of energy. And operations relying on pollutive sources have drawn particular concern over the years.

    Recent research published by the United Nations University and Earth’s Future journal found that the carbon footprint of 2020-2021 bitcoin mining across 76 nations was equivalent to the emissions from burning 84 billion pounds of coal or running 190 natural gas-fired power plants. Coal satisfied the bulk of bitcoin’s electricity demands (45%), followed by natural gas (21%) and hydropower (16%).

    Environmental impacts of bitcoin mining boil largely down to the energy source used. Industry analysts have maintained that clean energy has increased in use in recent years, coinciding with rising calls for climate protections

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  • Bitcoin has topped $87,000 for a new record high. What to know about crypto’s post-election rally

    Bitcoin has topped $87,000 for a new record high. What to know about crypto’s post-election rally

    NEW YORK — As money continues to pour into crypto following Donald Trump’s victory last week, bitcoin has climbed to yet another record high.

    The world’s largest cryptocurrency topped $87,000 for the first time on Monday. As of around 3:45 p.m. ET, bitcoin’s price stood at $87,083, per CoinDesk, up over 28% in the last week alone.

    That’s part of a rally across cryptocurrencies and crypto-related investments since Trump won the U.S. presidential election last week. Analysts credit much of the recent gains to an anticipated “crypto-friendly” nature of the incoming administration, which could translate into more regulatory clarity but also leeway.

    Still, as with everything in the volatile cryptoverse, the future is hard to predict. And while some are bullish, others continue to warn of investment risks.

    Here’s what you need to know.

    Cryptocurrency has been around for a while now, but seen come under the spotlight in recent years.

    In basic terms, cryptocurrency is digital money. This kind of currency is designed to work through an online network without a central authority — meaning it’s typically not backed by any government or banking institution — and transactions get recorded with technology called a blockchain.

    Bitcoin is the largest and oldest cryptocurrency, although other assets like Ethereum, Tether and Dogecoin have gained popularity over the years. Some investors see cryptocurrency as a “digital alternative” to traditional money — but it can be very volatile, and reliant on larger market conditions.

    A lot of it has to do with the outcome of last week’s election.

    Trump was previously a crypto skeptic, but changed his mind and embraced cryptocurrencies during this year’s presidential race. He has pledged to make the U.S. “the crypto capital of the planet” and create a “strategic reserve” of bitcoin. His campaign accepted donations in cryptocurrency and he courted fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies.

    Crypto industry players welcomed Trump’s victory, in hopes that he would be able to push through legislative and regulatory changes that they’ve long lobbied for. And Trump had previously promised that, if elected, he would remove the chair of the Securities and Exchange Commission, Gary Gensler, who has been leading the U.S. government’s crackdown on the crypto industry and repeatedly called for more oversight.

    “Crypto rallied as Election Day progressed into the night and as it became increasingly clear that Trump would emerge victorious,” Citi analysts David Glass and Alex Saunders wrote in a Friday research note, pointing to larger industry sentiment around Trump being “crypto-friendly” and a potential shift in regulatory backing.

    Even before the post-election rally, assets like bitcoin posted notable gains over the past year or so. Much of the credit goes to early success of a new way to invest in the asset: spot bitcoin ETFs, which were approved by U.S. regulators in January.

    Inflows into spot ETFs, or exchange-traded funds, “have been the dominant driver of Bitcoin returns from some time, and we expect this relationship to continue in the near-term,” Glass and Saunders noted. They added that spot crypto ETFs saw some of their largest inflows on record in the days following the election.

    Crypto assets like bitcoin have a history of drastic swings in value — which can come suddenly and happen over the weekend or overnight in trading that continues at all hours, every day.

    In short, history shows you can lose money as quickly as you’ve made it. Long-term price behavior relies on larger market conditions.

    At the start of the COVID-19 pandemic, bitcoin stood at just over $5,000. Its price climbed to nearly $69,000 by November 2021, in a time marked by high demand for technology assets, but later crashed during an aggressive series of Federal Reserve rate hikes aimed at curbing inflation. Then came the 2022 collapse of FTX, which significantly undermined confidence in crypto overall.

    At the start of last year, a single bitcoin could be had for less than $17,000. Investors, however, began returning in large numbers as inflation started to cool — and gains skyrocketed on the anticipation and then early success of spot ETFs. While some crypto supporters see the potential for more record-breaking days, experts still stress caution, especially for small-pocketed investors.

    “Investors should only dabble in crypto with money that they can be prepared to lose,” Susannah Streeter, head of money and markets at Hargreaves Lansdown, said last week. “Because we’ve seen these wild swings in the past.”

    Assets like bitcoin are produced through a process called “mining,” which consumes a lot of energy. And operations relying on pollutive sources have drawn particular concern over the years.

    Recent research published by the United Nations University and Earth’s Future journal found that the carbon footprint of 2020-2021 bitcoin mining across 76 nations was equivalent to the emissions from burning 84 billion pounds of coal or running 190 natural gas-fired power plants. Coal satisfied the bulk of bitcoin’s electricity demands (45%), followed by natural gas (21%) and hydropower (16%).

    In the U.S., the Energy Information Administration notes that crypto mining across the country has “grown very rapidly over the last several years,” adding that grid planners have begun to express concern over increases in related electricity demand. Preliminary estimates released by the EIA in February suggest that annual electricity use from crypto mining probably represents between 0.6% to 2.3% of U.S. electricity consumption.

    Environmental impacts of bitcoin mining boil largely down to the energy source used. Industry analysts have maintained that clean energy has increased in use in recent years, coinciding with rising calls for climate protections from regulators around the world.

    _________

    AP Business Writer Kelvin Chan contributed to this report from London.

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  • Piers Morgan, and Others Rally to Strip Imane Khelif of Her Olympic Gold as Leaked Medical Reports Reignites Gender Row Debate

    Piers Morgan, and Others Rally to Strip Imane Khelif of Her Olympic Gold as Leaked Medical Reports Reignites Gender Row Debate

    Imane Khelif is again seizing headlines for the same reason—controversy over her gender. After months of heated debate, the Algerian boxer’s leaked medical report has come to light, alleging that she has the XY chromosome. Her gender sparked controversy at the Olympics, raising questions about her participation. However, she went the distance and clinched the gold, and now there are demands to return it.

    According to reduxx.info, endocrinologists Soumaya Fedala and Jacques Young prepared a report on Khelif, 25, last year. The report specifies that she has a 5-alpha reductase deficiency, which is a sexual development disorder found in assigned males at birth. French journalist Djaffar Ait Aoudia then received a copy of the same. A further chromosomal test also suggested that Khelif has an XY karyotype.

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    As the news broke out, Piers Morgan turned to his X handle and campaigned to strip the Tiaret native of her Olympic gold. He wrote, “Confirmation of what some of us said at the time: Khelif is a biological man. The gold medal should now be stripped and awarded to the best actual woman.”

    Enzo Maccarinelli blasted the fans who didn’t believe him. The former world champion’s post read, “Well well can u believe it the man who looks like a man and fights like a man is actually a man the amount of do gooding d-ckheads who lambasted me and others who tried defending women’s rights to compete in a fair sport was insane.”

    These leaked medical reports have taken the boxing world by storm, and this might affect Khelif’s decision to turn pro. While she had recently expressed her desire to venture into professional boxing, she could expect increased protest over the move. The boxing world is also split, as the likes of Rick Glaser have retracted their support of the female boxer.

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    Boxing insider distances himself from Imane Khelif

    When tagged by a fan, Glaser expressed his opinion of the recently released reports surrounding Khelif. He responded, “Please don’t include my name in anything involving Khelif. She’s all Eddie Hearn’s.” Eddie Hearn had specified his interest in bringing her to Matchroom Boxing when she turned pro. However, the British boxer might rethink the decision given the leaked medical reports.

    via Reuters

    The controversy surrounding Khelif started in the first match of the Olympics against Angela Carini, who quit the match within the first minute. Soon, her disqualification from last year’s World Championship over the failed gender tests made the news. Now another medical report has come out with similar claims about her.

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    What do you make of these reports relating to Imane Khelif? Let us know in the comments below.



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  • Grassroots soccer, a practical antidote to Trump’s New York rally rhetoric

    Grassroots soccer, a practical antidote to Trump’s New York rally rhetoric

    AS A Trump rally at Madison Square Garden took centre stage in a typically awkward but nevertheless concerning manner in New York City in the build-up to the 2024 United States presidential election, the city’s grassroots soccer scene is providing an antidote.

    Throughout the city, people from all walks of life come together to play sports on a daily basis and below the surface, beneath the major leagues, is an active and organic grassroots soccer scene.

    Even if it is not always explicitly political, grassroots soccer in New York City carries a message in its very being that pushes back against the anti-immigrant rhetoric of Donald Trump and his cronies.

    Many of New York City’s oldest soccer clubs emerged from immigrant communities. Names like the Pancyprian Freedoms, Greek Americans, and Ukrainians are well-known among the grassroots scene, while newer teams continue to embrace the diversity of this global city.

    On Friday, nine members of one local community soccer club, New York International FC (NYIFC), continued the club’s partnership with the local soup kitchen and mutual aid organisation, EV Loves NYC, volunteering to help cook the meals that are sent out across the city to those in need.

    As its name suggests, NYIFC is a club made up of New Yorkers with roots spread across the world.

    NYIFC and EV Loves NYC naturally crossed paths through shared aims for the communities within the city.

    Both have grown since their formations at a similar time in 2019, and a community soccer club has proved to be a natural partner for the work carried out by a mutual aid organisation.

    NYIFC players have regularly helped out at the kitchen in the years since the two entities became aware of each others’ work, and both organisations have progressed on and off the field.

    NYIFC, along with many other clubs in New York’s Cosmopolitan Soccer League (CSL), regularly play home games on Randall’s Island, which is situated to the east of Manhattan and south of The Bronx between the Harlem River and the East River.

    The island has become home to the largest migrant shelter in the city amid a so-called migrant crisis in recent years.

    Stays in the shelter have been limited to anywhere between 30 to 60 days, and even families with children are now limited to 60 days having previously not faced any time limit.

    On the back of those regular evictions, a community has formed on the island made up of those kicked out of the shelter.

    As part of this, services such as outdoor barbershops, bodegas, and other vendors selling food and drink have formed within this mini-community, set up and run by its members.

    This can be useful for soccer players and supporters on matchdays as, despite its large number of soccer fields, Randall’s Island is fairly isolated with few provisions available for those visiting.

    New York International’s head of community engagement, Nicholas Alexandrakos, is hoping to involve these communities with NYIFC, and by extension the work of EV Loves NYC.

    “The coaching staff are already carpooling to every game on Randall’s. They are bringing all the necessary equipment like the tent [effectively the dugout], the defibrillator, the Veo which records and streams matches and the soccer gear,” says Alexandrakos.

    “If we can get some of the migrants, who are living in their own tents outside the Randall’s Island camp, to an NYIFC match, we’d like to set up a pre-game hangout where EV Loves NYC can provide a few meals.

    “The coaches would have no problem finding space for a few trays of food. This is what it means to be a part of a community club in NYC. We’ll find the space.”

    As EV Loves NYC recently moved their soup kitchen operation from East Village to a larger kitchen in the south of Greenwich Village, they have been able to expand their services, retaining the old base as part of their distribution efforts.

    This could once again tie in with the community work of NYIFC and its current presence on Randall’s Island.

    One such crossover may be the new CV-building service that EV Loves NYC now provides for migrants who volunteer in the kitchen. 

    Volunteers from any background can learn numerous skills from cooking to distribution and everything else involved with contributing to such a mutual aid organisation. They can then add this experience to their CV.

    Having gained promotion last season, NYIFC are also making an impact on the local soccer community in a sporting sense.

    They now play in Division 1 of the CSL for the 2024/25 season and have got off to an encouraging start at this higher level and currently sit fourth in the table.

    Though this is the top division of the CSL, there is still potential for further progress to be made by securing promotion to the Eastern Premier Soccer League (EPSL). 

    The EPSL acts as a pinnacle for several local leagues on the East Coast from Massachusetts to Maryland and has the potential to join with other similar national and regional leagues to form a pyramid in the United States similar to the one seen in England.

    Though New York is known for its big-name sports teams in baseball, American football, basketball and ice hockey, there is lots of participation in soccer across its fields and parks.

    Randall’s Island especially, with its large number of pitches, is very much a soccer island.

    Even as NYIFC searches for a permanent home ground of their own in the city, they will retain links to these communities that emerged alongside them on Randall’s, and continue to contribute to the wider region via the work with EV Loves NYC.

    Much of the rhetoric around this presidential election will be anti-immigrant, and while Trump sits in his New York tower and has his unfunny comedians, some of whom try to pass as politicians, make “jokes” about Puerto Ricans and peddle anti-immigrant lines borrowed from a Nazi rally at MSG in 1939, grassroots soccer is working to tackle real issues on the ground.

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  • Citizen astronomers rally to protect Mexico’s night sky for the next generation

    Citizen astronomers rally to protect Mexico’s night sky for the next generation

    JOYA-LA BARRETA ECOLOGICAL PARK, Mexico — As night descended, a rumble of frogs filled the air in this park outside the central Mexican city of Queretaro. In the sky, tiny stars appeared one by one, aligning into constellations.

    Juan Carlos Hernández used his weight to adjust a large telescope. “Aim for me, Rich!” he yelled to his friend. Ricardo Soriano focused a green laser on a small patch of clouds, targeting where the Tsuchinshan-Atlas comet will soon be visible.

    Hernández and other amateur astronomers worked to certify Joya-La Barreta Ecological Park last year as the first urban night sky space in Latin America by DarkSky International, an organization working to educate the public about the harm of indiscriminate lighting.

    The park sitting at about 8,520 feet (2,600 meters) above sea level on the outskirts of Queretaro gives unobstructed access to the night sky. While over 200 dark sky places exist globally, Joya-La Barreta park is only one of 11 in areas that are considered urban. Its dark sky status is under constant threat, however, from increasing light pollution and urbanization.

    Hernández, who just turned 40, has advocated relentlessly for the night sky for more than 20 years.

    The president of Queretaro’s Astronomical Society and one of the founders of the stargazing tourism agency Astronite, the aerospace engineer by day has been chasing dark areas to observe the stars since he can remember.

    “In 2014 you could see Omega (Centauri) sitting in the sky just above the city,” he said of a constellation over 17,000 light years away. “Today it’s unimaginable.”

    A 2023 study that analyzed data from more than 50,000 amateur stargazers found that artificial lighting is making the night sky across the world about 10% brighter each year. As of 2016, more than 80% of the world lived under light-polluted skies.

    Studies in Mexico show that increased urbanization and the need for city lighting in relation to security issues have caused more light contamination.

    Fernando Ávila Castro of the Institute of Astronomy at the National Autonomous University of Mexico said a good analogy to explain light pollution is noise pollution.

    “We constantly hear traffic noise from the street, but past a certain level that intensity becomes annoying, it doesn’t let you rest,” he said. “The same thing happens with light. Especially because all living beings have this internal clock, the circadian rhythm, which depends on the external values of light.”

    “When we go to sleep, we forget that an entire world remains active,” Castro said.

    The moon and stars are the light source guiding nocturnal activity for plants and animals — determining when animals emerge from hiding to find food, when plants reproduce and when certain animal species migrate. Artificial light has boomed since the industrial revolution in the 19th century, with efficient, affordable LEDs the latest type in wide use.

    “There’s also this whole part about the biodiversity,” Analette Casazza, president of another Queretaro astronomy association, said while standing under the stars Saturday night. “We can hear the singing from all the animals that live here (in Joya-La Barreta). A lot of these pollinating animals, their activity is at night.”

    Joya-La Barreta park hosts 123 species of vertebrates.

    “The real challenge we have is to get citizens involved,” said María Guadalupe Espinosa de los Reyes Ayala, Queretaro’s environment secretary. “When people arrive at a place like this and realize how much it has to offer, they see the need to protect and conserve it.”

    Hernández and other astronomy activists continue to fight to conserve the park’s nocturnal conditions and pass state regulations to reduce light pollution.

    Hernández is also fighting for the enforcement of Mexico’s General Law of Ecological Balance, passed in 2021.

    The law provides general recommendations to minimize light pollution. It’s been recognized in certain Mexican states like Sonora, Baja California and Hidalgo to protect observatories and professional astronomical observations. However in Queretaro, Hernández submitted an amendment to the state congress in 2023 to apply the regulations, but hasn’t had any luck.

    Three times a year, the citizen astronomers at Joya-La Barreta have to submit light pollution reports to DarkSky. Increased light pollution levels or a lack of visitors to the park for astronomical activities can put their certification at risk. For Ricardo Soriano, another founder of Astronite, it’s a constant cause for concern.

    “If contamination continues to grow and the government doesn’t support us, and doesn’t do more to see more beyond our certification, then we can lose it,” Soriano said. “We’ll have to leave Queretaro to try to find another park like this. I hope they can see it as something important for the state and community.”

    On Saturday, as the comet came into focus, 10-year-old Matti González, accompanied by his parents Antonio González and Brenda Estrella, burst into a smile looking through his telescope.

    “What are you going to dress up as for Halloween?” González asked his son. “An astronaut!” Matti yelled.

    Throughout the night, Hernandez ran back and forth between attendees with a red headlight guiding his path. He explained certain celestial bodies or helped focus a scope on Saturn’s rings. Pausing for a moment, he thought about Carl Sagan, and how the astronomer said the same elements that form in the final gasps of a dying star — hydrogen, oxygen, carbon — are elements found in our bodies today.

    “Looking at the sky is the most spiritual experience there can be,” Hernández said excitedly. “It’s the connection to our true molecular origins, but also to our cosmic destiny.”

    Looking up at the stars, he said: “For me, the most important thing is that the future generations know that a resource their grandparents had is being lost.”

    ____

    Follow AP’s coverage of Latin America and the Caribbean at https://apnews.com/hub/latin-america

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  • Could Raymond Lifestyle’s new journey trigger a 37% rally?

    Could Raymond Lifestyle’s new journey trigger a 37% rally?

    But let’s begin by understanding Raymond Lifestyle’s various business segments and its competitors in each of those.

    Branded textiles

    Raymond is well-known for its worsted suiting fabrics, including poly-wool, all-wool, silk, and other blended fabrics used in making garments such as suits and its shirting fabrics, such as cotton and linen. The company has about a 65% market share in the worsted suiting segment. Competitors in this consumer-facing space include Arvind Ltd and Vardhman Ltd.  

    Branded textiles are Raymond’s highest revenue contributor, accounting for about 50% of its topline in 2023-24. The company’s branded textile unit reported revenue of ₹3,449 crore for FY24, with an Ebitda margin of 20.5%. The segment is clearly a cash cow for the company.

    Branded apparel

    Raymond sells apparel under four brands to consumers. Its Raymond Ready to Wear and Park Avenue brands offer formal apparel. ColorPlus offers trendy casual and formal apparel, and Parx sells casual clothing for young people.

    The Raymond Shop, which was started in 1958, has more than 1,100 stores across 380 towns and cities in India, selling these four brands.

    The company’s Ethnix by Raymond brand includes ethnic wear such as sherwanis, kurtas, and jackets, which are sold in 114 stores. According to chairman Gautam Singhania, Raymond plans to add at least 100 Ethnix by Raymond stores in FY25. 

    The company also sells customized suits, jackets, and shirts to customers through its Raymond Made-to-Measure business. 

    Raymond’s branded apparel business is its second-largest segment. In FY24, it contributed about 23% of the company’s total revenue, with an Ebitda margin of about 11.5%.

    Its main competitors in this segment are Arvind, Aditya Birla Fashions and Retail Ltd, Tata Group’s Trent Ltd, and Shoppers Stop Ltd for ready-made apparel; and Vedant Fashions for ethnic wear. However, these competitors also offer women’s wear.

    Garmenting

    Raymond’s garmenting business supplies ready-made clothes to multinational brands through its subsidiaries—Silver Spark Apparel Ltd for suits, EverBlue Apparel Ltd for jeanswear, and Celebrations Apparel Ltd for shirts. Competitors in this segment include Arvind Ltd, Gokaldas Exports Ltd, and KPR Mill Ltd.  

    The garmenting business contributed nearly 15% of Raymond’s total revenue in FY24, with an Ebitda margin of 10.3%. 

    High-value cotton shirting

    Raymond Group sells high-quality cotton and linen fabrics to both domestic and international brands. This segment contributed about 12% of its total revenue in FY24, at an Ebitda margin of 11.4%.

    Raymond Home

    The group launched Raymond Home in 2013 to sell home textile products such as aprons, bedsheets, blankets, bathrobes, comforters, and table linen. Competitors in this space include Welspun Living Ltd and Trident Ltd.  

    Projections

    Raymond Group’s decision to demerge into three listed entities—Raymond Ltd, Raymond Lifestyle Ltd, and Raymond Realty Ltd—and its growth projections reflect its desire to increase market share. 

    From about a 65% share in worsted suiting fabrics and a 5% share in ethnic men’s wear, the company is committed to increasing its reach by adding more than 650 retail stores over the next 3 years, with over 100 stores specifically for Ethnix by Raymond in FY25. The expansion will be mainly in Tier 1 and 2 cities and selectively in Tier 3 and 4 markets.  

    The company expects steady revenue growth of 12-15% over the next few years. This, in turn, is expected to double its Ebitda by 2028, per its growth guidance provided at its investor conference on 17 September. The company expects to lower its net working capital days to 60 from the current 76 and generate annual free cash of ₹600-700 crore.

    Key financials

    Raymond Lifestyle reported net revenue of ₹6,691 crore for the year ended March, adjusted for intersegment elimination and other income of ₹210 crore. With a gross margin of 46%, an Ebitda margin of 16.3%, and a profit-after-tax margin of 7.0%, it reported 97 inventory days and a net cash surplus of ₹227 crore as of 31 March.

    The company’s operational return on capital employed was 31.7%, and operational return on equity was 10.4%.

    As of September, promoters held about 54.7% of the company’s shares. Foreign institutional investors held about 12.6% of the shares, domestic institutional investors about 7.9%, and the public about 24.8%.

    Comparison with peers  

    Multiple business segments, specifically those focused on men’s wear, make Raymond Lifestyle a unique company. Let’s now consider its key competitors across segments. 

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    Raymond Lifestyle has the lowest price-to-earnings (P/E) ratio among its peers, and a better return on capital employed ratio, which shows the company’s profitability and capital efficiency. 

    Now getting to the question of whether Raymond Lifestyle can trigger a 37% rally. For this, the company is expanding its network of stores and counters as well as its product range, and expects to double its Ebitda by 2028. This is a positive sign for the company at large. 

    Also, adding ethnic wear, sleepwear and innerwear to its portfolio will increase its revenue and margin in the coming years.

    In October, Motilal Oswal Financial Services Ltd, in its initiating coverage report on Raymond Lifestyle, recommended a “buy” on the company’s shares, stating that it expected the company to deliver an 11% compound annual growth rate in revenue and 15% CAGR in profit after tax over FY24-27. It set a target share price of ₹3,200 based on 30x the company’s September 2026 P/E ratio. This implies a return of 37% from current levels.

     

    Note: We have relied on data from www.Screener.in as well as company’s presentation throughout this article. Only in cases where the data was not available, have we used an alternate, but widely used and accepted source of information.  

    The purpose of this article is only to share interesting charts, data points and thought-provoking opinions. It is NOT a recommendation. If you wish to consider an investment, you are strongly advised to consult your advisor. This article is strictly for educative purposes only.   

    Mohit Bhambhani is a seasoned financial professional with over 13 years of experience in the field of financial research and corporate advisory. He also has substantial experience in Indian stock markets. With an analytical approach, he studies the performance of companies deeply, bringing value to the readers. 

    Disclosure: The writer and his dependents do not hold the stocks discussed in this article.

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  • Could Raymond Lifestyle’s new journey trigger a 37% rally?

    Could Raymond Lifestyle’s new journey trigger a 37% rally?

    But let’s begin by understanding Raymond Lifestyle’s various business segments and its competitors in each of those.

    Branded textiles

    Raymond is well-known for its worsted suiting fabrics, including poly-wool, all-wool, silk, and other blended fabrics used in making garments such as suits and its shirting fabrics, such as cotton and linen. The company has about a 65% market share in the worsted suiting segment. Competitors in this consumer-facing space include Arvind Ltd and Vardhman Ltd.  

    Branded textiles are Raymond’s highest revenue contributor, accounting for about 50% of its topline in 2023-24. The company’s branded textile unit reported revenue of ₹3,449 crore for FY24, with an Ebitda margin of 20.5%. The segment is clearly a cash cow for the company.

    Branded apparel

    Raymond sells apparel under four brands to consumers. Its Raymond Ready to Wear and Park Avenue brands offer formal apparel. ColorPlus offers trendy casual and formal apparel, and Parx sells casual clothing for young people.

    The Raymond Shop, which was started in 1958, has more than 1,100 stores across 380 towns and cities in India, selling these four brands.

    The company’s Ethnix by Raymond brand includes ethnic wear such as sherwanis, kurtas, and jackets, which are sold in 114 stores. According to chairman Gautam Singhania, Raymond plans to add at least 100 Ethnix by Raymond stores in FY25. 

    The company also sells customized suits, jackets, and shirts to customers through its Raymond Made-to-Measure business. 

    Raymond’s branded apparel business is its second-largest segment. In FY24, it contributed about 23% of the company’s total revenue, with an Ebitda margin of about 11.5%.

    Its main competitors in this segment are Arvind, Aditya Birla Fashions and Retail Ltd, Tata Group’s Trent Ltd, and Shoppers Stop Ltd for ready-made apparel; and Vedant Fashions for ethnic wear. However, these competitors also offer women’s wear.

    Garmenting

    Raymond’s garmenting business supplies ready-made clothes to multinational brands through its subsidiaries—Silver Spark Apparel Ltd for suits, EverBlue Apparel Ltd for jeanswear, and Celebrations Apparel Ltd for shirts. Competitors in this segment include Arvind Ltd, Gokaldas Exports Ltd, and KPR Mill Ltd.  

    The garmenting business contributed nearly 15% of Raymond’s total revenue in FY24, with an Ebitda margin of 10.3%. 

    High-value cotton shirting

    Raymond Group sells high-quality cotton and linen fabrics to both domestic and international brands. This segment contributed about 12% of its total revenue in FY24, at an Ebitda margin of 11.4%.

    Raymond Home

    The group launched Raymond Home in 2013 to sell home textile products such as aprons, bedsheets, blankets, bathrobes, comforters, and table linen. Competitors in this space include Welspun Living Ltd and Trident Ltd.  

    Projections

    Raymond Group’s decision to demerge into three listed entities—Raymond Ltd, Raymond Lifestyle Ltd, and Raymond Realty Ltd—and its growth projections reflect its desire to increase market share. 

    From about a 65% share in worsted suiting fabrics and a 5% share in ethnic men’s wear, the company is committed to increasing its reach by adding more than 650 retail stores over the next 3 years, with over 100 stores specifically for Ethnix by Raymond in FY25. The expansion will be mainly in Tier 1 and 2 cities and selectively in Tier 3 and 4 markets.  

    The company expects steady revenue growth of 12-15% over the next few years. This, in turn, is expected to double its Ebitda by 2028, per its growth guidance provided at its investor conference on 17 September. The company expects to lower its net working capital days to 60 from the current 76 and generate annual free cash of ₹600-700 crore.

    Key financials

    Raymond Lifestyle reported net revenue of ₹6,691 crore for the year ended March, adjusted for intersegment elimination and other income of ₹210 crore. With a gross margin of 46%, an Ebitda margin of 16.3%, and a profit-after-tax margin of 7.0%, it reported 97 inventory days and a net cash surplus of ₹227 crore as of 31 March.

    The company’s operational return on capital employed was 31.7%, and operational return on equity was 10.4%.

    As of September, promoters held about 54.7% of the company’s shares. Foreign institutional investors held about 12.6% of the shares, domestic institutional investors about 7.9%, and the public about 24.8%.

    Comparison with peers  

    Multiple business segments, specifically those focused on men’s wear, make Raymond Lifestyle a unique company. Let’s now consider its key competitors across segments. 

    .

    View Full Image

    .

    Raymond Lifestyle has the lowest price-to-earnings (P/E) ratio among its peers, and a better return on capital employed ratio, which shows the company’s profitability and capital efficiency. 

    Now getting to the question of whether Raymond Lifestyle can trigger a 37% rally. For this, the company is expanding its network of stores and counters as well as its product range, and expects to double its Ebitda by 2028. This is a positive sign for the company at large. 

    Also, adding ethnic wear, sleepwear and innerwear to its portfolio will increase its revenue and margin in the coming years.

    In October, Motilal Oswal Financial Services Ltd, in its initiating coverage report on Raymond Lifestyle, recommended a “buy” on the company’s shares, stating that it expected the company to deliver an 11% compound annual growth rate in revenue and 15% CAGR in profit after tax over FY24-27. It set a target share price of ₹3,200 based on 30x the company’s September 2026 P/E ratio. This implies a return of 37% from current levels.

     

    Note: We have relied on data from www.Screener.in as well as company’s presentation throughout this article. Only in cases where the data was not available, have we used an alternate, but widely used and accepted source of information.  

    The purpose of this article is only to share interesting charts, data points and thought-provoking opinions. It is NOT a recommendation. If you wish to consider an investment, you are strongly advised to consult your advisor. This article is strictly for educative purposes only.   

    Mohit Bhambhani is a seasoned financial professional with over 13 years of experience in the field of financial research and corporate advisory. He also has substantial experience in Indian stock markets. With an analytical approach, he studies the performance of companies deeply, bringing value to the readers. 

    Disclosure: The writer and his dependents do not hold the stocks discussed in this article.

    Source link

  • Could Raymond Lifestyle’s new journey trigger a 37% rally?

    Could Raymond Lifestyle’s new journey trigger a 37% rally?

    But let’s begin by understanding Raymond Lifestyle’s various business segments and its competitors in each of those.

    Branded textiles

    Raymond is well-known for its worsted suiting fabrics, including poly-wool, all-wool, silk, and other blended fabrics used in making garments such as suits and its shirting fabrics, such as cotton and linen. The company has about a 65% market share in the worsted suiting segment. Competitors in this consumer-facing space include Arvind Ltd and Vardhman Ltd.  

    Branded textiles are Raymond’s highest revenue contributor, accounting for about 50% of its topline in 2023-24. The company’s branded textile unit reported revenue of ₹3,449 crore for FY24, with an Ebitda margin of 20.5%. The segment is clearly a cash cow for the company.

    Branded apparel

    Raymond sells apparel under four brands to consumers. Its Raymond Ready to Wear and Park Avenue brands offer formal apparel. ColorPlus offers trendy casual and formal apparel, and Parx sells casual clothing for young people.

    The Raymond Shop, which was started in 1958, has more than 1,100 stores across 380 towns and cities in India, selling these four brands.

    The company’s Ethnix by Raymond brand includes ethnic wear such as sherwanis, kurtas, and jackets, which are sold in 114 stores. According to chairman Gautam Singhania, Raymond plans to add at least 100 Ethnix by Raymond stores in FY25. 

    The company also sells customized suits, jackets, and shirts to customers through its Raymond Made-to-Measure business. 

    Raymond’s branded apparel business is its second-largest segment. In FY24, it contributed about 23% of the company’s total revenue, with an Ebitda margin of about 11.5%.

    Its main competitors in this segment are Arvind, Aditya Birla Fashions and Retail Ltd, Tata Group’s Trent Ltd, and Shoppers Stop Ltd for ready-made apparel; and Vedant Fashions for ethnic wear. However, these competitors also offer women’s wear.

    Garmenting

    Raymond’s garmenting business supplies ready-made clothes to multinational brands through its subsidiaries—Silver Spark Apparel Ltd for suits, EverBlue Apparel Ltd for jeanswear, and Celebrations Apparel Ltd for shirts. Competitors in this segment include Arvind Ltd, Gokaldas Exports Ltd, and KPR Mill Ltd.  

    The garmenting business contributed nearly 15% of Raymond’s total revenue in FY24, with an Ebitda margin of 10.3%. 

    High-value cotton shirting

    Raymond Group sells high-quality cotton and linen fabrics to both domestic and international brands. This segment contributed about 12% of its total revenue in FY24, at an Ebitda margin of 11.4%.

    Raymond Home

    The group launched Raymond Home in 2013 to sell home textile products such as aprons, bedsheets, blankets, bathrobes, comforters, and table linen. Competitors in this space include Welspun Living Ltd and Trident Ltd.  

    Projections

    Raymond Group’s decision to demerge into three listed entities—Raymond Ltd, Raymond Lifestyle Ltd, and Raymond Realty Ltd—and its growth projections reflect its desire to increase market share. 

    From about a 65% share in worsted suiting fabrics and a 5% share in ethnic men’s wear, the company is committed to increasing its reach by adding more than 650 retail stores over the next 3 years, with over 100 stores specifically for Ethnix by Raymond in FY25. The expansion will be mainly in Tier 1 and 2 cities and selectively in Tier 3 and 4 markets.  

    The company expects steady revenue growth of 12-15% over the next few years. This, in turn, is expected to double its Ebitda by 2028, per its growth guidance provided at its investor conference on 17 September. The company expects to lower its net working capital days to 60 from the current 76 and generate annual free cash of ₹600-700 crore.

    Key financials

    Raymond Lifestyle reported net revenue of ₹6,691 crore for the year ended March, adjusted for intersegment elimination and other income of ₹210 crore. With a gross margin of 46%, an Ebitda margin of 16.3%, and a profit-after-tax margin of 7.0%, it reported 97 inventory days and a net cash surplus of ₹227 crore as of 31 March.

    The company’s operational return on capital employed was 31.7%, and operational return on equity was 10.4%.

    As of September, promoters held about 54.7% of the company’s shares. Foreign institutional investors held about 12.6% of the shares, domestic institutional investors about 7.9%, and the public about 24.8%.

    Comparison with peers  

    Multiple business segments, specifically those focused on men’s wear, make Raymond Lifestyle a unique company. Let’s now consider its key competitors across segments. 

    .

    View Full Image

    .

    Raymond Lifestyle has the lowest price-to-earnings (P/E) ratio among its peers, and a better return on capital employed ratio, which shows the company’s profitability and capital efficiency. 

    Now getting to the question of whether Raymond Lifestyle can trigger a 37% rally. For this, the company is expanding its network of stores and counters as well as its product range, and expects to double its Ebitda by 2028. This is a positive sign for the company at large. 

    Also, adding ethnic wear, sleepwear and innerwear to its portfolio will increase its revenue and margin in the coming years.

    In October, Motilal Oswal Financial Services Ltd, in its initiating coverage report on Raymond Lifestyle, recommended a “buy” on the company’s shares, stating that it expected the company to deliver an 11% compound annual growth rate in revenue and 15% CAGR in profit after tax over FY24-27. It set a target share price of ₹3,200 based on 30x the company’s September 2026 P/E ratio. This implies a return of 37% from current levels.

     

    Note: We have relied on data from www.Screener.in as well as company’s presentation throughout this article. Only in cases where the data was not available, have we used an alternate, but widely used and accepted source of information.  

    The purpose of this article is only to share interesting charts, data points and thought-provoking opinions. It is NOT a recommendation. If you wish to consider an investment, you are strongly advised to consult your advisor. This article is strictly for educative purposes only.   

    Mohit Bhambhani is a seasoned financial professional with over 13 years of experience in the field of financial research and corporate advisory. He also has substantial experience in Indian stock markets. With an analytical approach, he studies the performance of companies deeply, bringing value to the readers. 

    Disclosure: The writer and his dependents do not hold the stocks discussed in this article.

    Source link

  • Could Raymond Lifestyle’s new journey trigger a 37% rally?

    Could Raymond Lifestyle’s new journey trigger a 37% rally?

    But let’s begin by understanding Raymond Lifestyle’s various business segments and its competitors in each of those.

    Branded textiles

    Raymond is well-known for its worsted suiting fabrics, including poly-wool, all-wool, silk, and other blended fabrics used in making garments such as suits and its shirting fabrics, such as cotton and linen. The company has about a 65% market share in the worsted suiting segment. Competitors in this consumer-facing space include Arvind Ltd and Vardhman Ltd.  

    Branded textiles are Raymond’s highest revenue contributor, accounting for about 50% of its topline in 2023-24. The company’s branded textile unit reported revenue of ₹3,449 crore for FY24, with an Ebitda margin of 20.5%. The segment is clearly a cash cow for the company.

    Branded apparel

    Raymond sells apparel under four brands to consumers. Its Raymond Ready to Wear and Park Avenue brands offer formal apparel. ColorPlus offers trendy casual and formal apparel, and Parx sells casual clothing for young people.

    The Raymond Shop, which was started in 1958, has more than 1,100 stores across 380 towns and cities in India, selling these four brands.

    The company’s Ethnix by Raymond brand includes ethnic wear such as sherwanis, kurtas, and jackets, which are sold in 114 stores. According to chairman Gautam Singhania, Raymond plans to add at least 100 Ethnix by Raymond stores in FY25. 

    The company also sells customized suits, jackets, and shirts to customers through its Raymond Made-to-Measure business. 

    Raymond’s branded apparel business is its second-largest segment. In FY24, it contributed about 23% of the company’s total revenue, with an Ebitda margin of about 11.5%.

    Its main competitors in this segment are Arvind, Aditya Birla Fashions and Retail Ltd, Tata Group’s Trent Ltd, and Shoppers Stop Ltd for ready-made apparel; and Vedant Fashions for ethnic wear. However, these competitors also offer women’s wear.

    Garmenting

    Raymond’s garmenting business supplies ready-made clothes to multinational brands through its subsidiaries—Silver Spark Apparel Ltd for suits, EverBlue Apparel Ltd for jeanswear, and Celebrations Apparel Ltd for shirts. Competitors in this segment include Arvind Ltd, Gokaldas Exports Ltd, and KPR Mill Ltd.  

    The garmenting business contributed nearly 15% of Raymond’s total revenue in FY24, with an Ebitda margin of 10.3%. 

    High-value cotton shirting

    Raymond Group sells high-quality cotton and linen fabrics to both domestic and international brands. This segment contributed about 12% of its total revenue in FY24, at an Ebitda margin of 11.4%.

    Raymond Home

    The group launched Raymond Home in 2013 to sell home textile products such as aprons, bedsheets, blankets, bathrobes, comforters, and table linen. Competitors in this space include Welspun Living Ltd and Trident Ltd.  

    Projections

    Raymond Group’s decision to demerge into three listed entities—Raymond Ltd, Raymond Lifestyle Ltd, and Raymond Realty Ltd—and its growth projections reflect its desire to increase market share. 

    From about a 65% share in worsted suiting fabrics and a 5% share in ethnic men’s wear, the company is committed to increasing its reach by adding more than 650 retail stores over the next 3 years, with over 100 stores specifically for Ethnix by Raymond in FY25. The expansion will be mainly in Tier 1 and 2 cities and selectively in Tier 3 and 4 markets.  

    The company expects steady revenue growth of 12-15% over the next few years. This, in turn, is expected to double its Ebitda by 2028, per its growth guidance provided at its investor conference on 17 September. The company expects to lower its net working capital days to 60 from the current 76 and generate annual free cash of ₹600-700 crore.

    Key financials

    Raymond Lifestyle reported net revenue of ₹6,691 crore for the year ended March, adjusted for intersegment elimination and other income of ₹210 crore. With a gross margin of 46%, an Ebitda margin of 16.3%, and a profit-after-tax margin of 7.0%, it reported 97 inventory days and a net cash surplus of ₹227 crore as of 31 March.

    The company’s operational return on capital employed was 31.7%, and operational return on equity was 10.4%.

    As of September, promoters held about 54.7% of the company’s shares. Foreign institutional investors held about 12.6% of the shares, domestic institutional investors about 7.9%, and the public about 24.8%.

    Comparison with peers  

    Multiple business segments, specifically those focused on men’s wear, make Raymond Lifestyle a unique company. Let’s now consider its key competitors across segments. 

    .

    View Full Image

    .

    Raymond Lifestyle has the lowest price-to-earnings (P/E) ratio among its peers, and a better return on capital employed ratio, which shows the company’s profitability and capital efficiency. 

    Now getting to the question of whether Raymond Lifestyle can trigger a 37% rally. For this, the company is expanding its network of stores and counters as well as its product range, and expects to double its Ebitda by 2028. This is a positive sign for the company at large. 

    Also, adding ethnic wear, sleepwear and innerwear to its portfolio will increase its revenue and margin in the coming years.

    In October, Motilal Oswal Financial Services Ltd, in its initiating coverage report on Raymond Lifestyle, recommended a “buy” on the company’s shares, stating that it expected the company to deliver an 11% compound annual growth rate in revenue and 15% CAGR in profit after tax over FY24-27. It set a target share price of ₹3,200 based on 30x the company’s September 2026 P/E ratio. This implies a return of 37% from current levels.

     

    Note: We have relied on data from www.Screener.in as well as company’s presentation throughout this article. Only in cases where the data was not available, have we used an alternate, but widely used and accepted source of information.  

    The purpose of this article is only to share interesting charts, data points and thought-provoking opinions. It is NOT a recommendation. If you wish to consider an investment, you are strongly advised to consult your advisor. This article is strictly for educative purposes only.   

    Mohit Bhambhani is a seasoned financial professional with over 13 years of experience in the field of financial research and corporate advisory. He also has substantial experience in Indian stock markets. With an analytical approach, he studies the performance of companies deeply, bringing value to the readers. 

    Disclosure: The writer and his dependents do not hold the stocks discussed in this article.

    Source link

  • Elon Musk makes first appearance at Trump rally casting election in dire terms

    Elon Musk makes first appearance at Trump rally casting election in dire terms

    Billionaire tech executive Elon Musk cast the upcoming presidential election in dire terms during a Saturday appearance with Donald Trump, calling the Republican presidential nominee the only candidate “to preserve democracy in America.”

    The CEO of SpaceX and Tesla who also purchased X, Musk joined Trump in Butler, Pennsylvania, where the former president survived an assassination attempt in July. He warned “this will be the last election” if Trump doesn’t win and, clad in a black-on-black cap bearing the “Make America Great Again” slogan of Trump’s campaign, appeared to acknowledge the foreboding nature of his remarks.

    “As you can see I am not just MAGA — I am Dark MAGA,” he said.

    The appearance marked the first time Musk joined one of Trump’s trademark rallies and represented the growing alliance between the two men in the final stretch of a competitive presidential election. Musk created a super PAC supporting the Republican nominee that has been spending heavily on get-out-the-vote efforts in the final months of the campaign. Trump has said he would tap Musk to lead a government efficiency commission if he regains the White House.

    Trump joined Musk in August for a rare public conversation on X, an overwhelmingly friendly chat that spanned more than two hours. In it, the former president largely focused on the July assassination attempt, illegal immigration and his plans to cut government regulations.

    Before a massive crowd on Saturday, Musk sought to portray Trump as a champion of free speech, arguing that Democrats want “to take away your freedom of speech, they want to take away your right to bear arms, they want to take away your fight to vote, effectively.” Musk went on to criticize a California effort to ban voter ID requirements.

    Saturday’s rally took place at the same property where a gunman’s bullets grazed Trump’s right ear and killed his supporter, Corey Comperatore. The shooting left multiple others injured.

    Several members of Comperatore’s family, as well as other attendees and first responders from the July rally, returned to the site on Saturday. Also appearing with the former president were his running mate Republican Ohio Sen. JD Vance, son Eric Trump, daughter-in-law and RNC co-chair Lara Trump, along with Pennsylvania lawmakers and sheriffs.

    ___

    Kinnard reported from Chapin, South Carolina, and can be reached at http://x.com/MegKinnardAP.

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