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PMS Talk: AI, defence and electronics manufacturing are the next growth engines, says Vaibhav Agarwal
In this edition of ETMarkets PMS Talk, we speak with Vaibhav Agarwal, Founder & CIO, Accelt Asset Management LLP, about how his team’s bottom-up stock-picking approach identifies businesses capable of delivering sustained earnings growth. He explains why smallcaps offer opportunities among companies growing earnings at 25–30%, how the GMCV framework — Growth, Management, Capital Efficiency and Valuation — helps separate potential compounders from value traps, and why paying the right price matters even when a business has a compelling growth story.
Diversification plan: NMDC scouts for mining assets across four continents
NMDC is actively seeking mining assets worldwide, including critical minerals to support various industries. The company aims to earn 20 percent of revenues from minerals other than iron ore. This expansion aligns with government initiatives to secure raw material supplies and decrease import dependency. NMDC's strategy is expected to enhance its role in India's manufacturing sectors. Industries such as automotive, renewable energy, and electronics will benefit from these efforts.
5 stocks with consistent score improvement and upside potential of up to 28% in 1 year, according to analyst
Multiple headwinds continue to hit the market, and there is no sign that things will change anytime soon. In these circumstances, the chances are high that the bears will continue to dominate the street.
Why India's steel demand is defying global weakness
India’s steel prices are rising despite weak global markets, supported by infrastructure spending, manufacturing growth and higher input costs. While Chinese oversupply pressures international prices, robust domestic consumption and capacity utilisation underpin India’s outlook, with cheaper imports remaining a key risk.
Factories of future: Built on 25 years of reform & execution
India's industrial sector has seen significant growth under Modi's leadership, emphasising infrastructure development and reforms. The Vibrant Gujarat Summit initiated a strategic approach to enhance ease of doing business. Recent trade agreements have expanded access to global markets for Indian manufacturers.
Semiconductor push, govt support driving EMS sector's growth, but valuation remains a concern: How 3 stocks with most buy calls are placed
Investor enthusiasm around the sector is visible in the performance of nine EMS stocks covered by multiple brokerages. The group has delivered an equal weighted average return of 55.3% so far in 2026, compared with 1.1% for the Nifty 500 Equal Weighted Index. Seven of the nine stocks have delivered posi tive returns, while three have gained over 100%. The analysis is based on closing prices as of 28 September 2026.
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Modinomics at 76: The birthday cake, the candles and the numbers
PM Narendra Modi turns 76 as he completes nearly 12 years in office, a period that has reshaped India’s economic landscape through infrastructure expansion, digitalisation, financial inclusion and policy reforms. While India has emerged as a major global economy, private investment, manufacturing depth and quality employment remain key unfinished parts of the economic story.
ET World Leaders Forum: Trust-based reforms transformed India’s middle class, says PM Modi
Prime Minister Modi highlighted India's transformative reforms and trust-based governance. He noted significant changes for the middle class, which are still a dream elsewhere. The government shifted from punishment to incentive models, creating millions of new jobs. Digital revolution and infrastructure upgrades have improved citizens' ease of living. India is becoming self-reliant in defence and other key sectors.
PM Modi says ‘production-linked punishment’ era once held back Indian industry; pegs India as world’s fastest-growing economy
Prime Minister Narendra Modi on Friday said India had moved from the Licence Raj-era “Production Linked Punishment” model to incentivising production through the PLI scheme, which he said has generated ₹2.5 lakh crore in investment, ₹22 lakh crore in production and sales, ₹15 lakh crore in exports and over 14 lakh jobs.
Bihar to get four more Amrit Bharat express trains. Check details
Railway Minister Ashwini Vaishnaw has announced four new Amrit Bharat Express trains for Bihar, bringing the total to seven nationwide, with five originating from the state. These semi-high-speed trains, designed similarly to the Vande Bharat, include a daily Patna-Delhi service and weekly routes connecting Darbhanga to Gomti Nagar, Malda Town to Lucknow, and Saharsa to Amritsar.
How Budget 2024 can cash in on the PLI scheme to unlock Aatmanirbhar Bharat's manufacturing potential
Budget 2024 Expectations: The PLI scheme promotes manufacturing in 14 sectors, including electronics, textiles, and white goods. Reopened for textiles, white goods, railways, furniture, and toy industries, it aims to reduce imports and modernize production. Launched in 2020, it enhances economic resilience, job creation, and export growth under the Aatmanirbhar Bharat initiative.
Two multibagger railways stocks jump up to 5% as govt plans PLI scheme for train parts
The government is planning to introduce a production-linked incentive (PLI) scheme for train component makers as part of its efforts to attract foreign manufacturing firms and reduce dependence on imports, people aware of the matter said.
Railways plans PLI scheme for train parts
The Indian Government is planning a production-linked incentive (PLI) scheme for train component makers, aiming to attract foreign manufacturing firms and reduce imports. A consultancy firm will be selected this month to work on the scheme.
PLI 2.0 in works for steel, to focus on import substitution
Companies participating in the first phase of the PLI scheme for the sector have committed to an investment of ₹29,530 crore, with a downstream capacity addition of 24.78 million tonnes. The government has earmarked ₹6,322 crore for providing incentives to the steel sector under the PLI plan.
Vande Bharat trains to cover all states by June: Railways Minister Ashwini Vaishnaw
All states will be covered by Vande Bharat trains by June, according to India's Railways Minister Ashwini Vaishnaw. The government aims to link 200 cities with the Vande Bharat service by mid-2022. Vande Bharat Express was launched in February 2019 and has onboard features including GPS-based passenger information systems, retractable footsteps, and zero-emission vacuum bio-toilets.
Railways expects first Vande Metro to be ready by 2024 end
A top government official told ET that these may be deployed in the Mumbai local network as well. "This will completely transform the experience of suburban travel on the Indian Railways," the official said, declining to be named.
Indian Railways to construct Bairabi–Sairang rail line in Mizoram at a cost of Rs 6,527 crores
The new line will end at Sairang; from Sairang station, the capital of Mizoram Aizawl is not far away. There will be 55 major and 87 minor bridges in the entire project. Anshul Gupta, General Manager of Northeast Frontier Railway inspected work sites of the Bhairabi – Sairang new railway line project that will connect state capital of Mizoram.
Western Railway earns Rs 40.03 crore from its first AC local train
The first AC local, fitted with indigenous three- phase propulsion system of BHEL, arrived here in May 2017, and after several safety trials, it was pressed into service on December 25, 2017. On an average, approximately 18,000 commuters travel by the AC local everyday, with at least 1,500 in each service, the WR's statement said.
Rail services resume in Kashmir Valley, people throng Sunday flea market in Srinagar
Railway services were resumed in Kashmir valley after three months of being suspended due to security reason post abrogation of Article 370. Conditions have begun to normalise in the valley as the weekly flea market witnessed a rush and local transport have started plying on some routes in the city and elsewhere in the valley including buses and autos.
Rail service in Kashmir resume, mini buses on roads in valley
A railway official told PTI that a train chugged between Baramulla and Srinagar this morning. The train service in the valley was suspended due to security reasons on the morning of 5 August – hours before the Centre announced its decision to abrogate Article 370 of the Constitution and to bifurcate the erstwhile state into two Union territories.
Buses start plying in Srinagar, train services to resume
Train services in the valley were suspended on the morning of 5 August – hours before the Centre announced its decision to abrogate Article 370 of the Constitution and to bifurcate the erstwhile state into two Union territories. The railways conducted two successful trial runs on the stretch on Monday after conducting a thorough safety audit of the line.
Railways to cancel or short-terminate some trains to Puri Kolkata
The Railway has decided to cancel or short-terminate several long distance trains to Puri in Odisha for nearly a fortnight from September 12.
AAP calls Delhi auto strike 'BJP-sponsored', commuters suffer
The Committee claimed about 85,000 auto-rickshaws and 15,000 yellow-black taxis went off roads due to the strike.
Bomb scare on Delhi-Kanpur trains; Shatabdi halted at Ghaziabad
The bomb scare came a day after the Pathankot terror attack that left four infiltrators and three security personnel dead.
Train services resume on Amritsar-Pathankot line
Train services on the Amritsar-Pathankot line, where five live bombs were found, have been resumed today after thorough examination of the track.
Suresh Prabhu inaugurates train in Odisha
A new DMU train was today flagged off between Rourkela and Sambalpur as per the announcement made in the Railway Budget.
Committee set up to frame guidelines for e-rickshaw plying
Delhi Chief Minister Sheila Dikshit today appointed a committee to finalise the guidelines for plying of battery-powered rickshaws in the city.
Rail budget 2012-13: Gurdas Kamat welcomes elevated rail corridor for Mumbai commuters
Gurudas Kamat today welcomed the announcement of an Elevated Rail Corridor from Churchgate to Virar on Western Railway, in railway budget 2012-13.
Trains to ply during night in Naxal-hit areas soon
Running of passenger trains during night in Naxal affected areas of West Bengal and Jharkhand is likely to be resumed soon in view of "improvement" in law and order situation there.
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