Latest Sectors News

India's steel market will remain a global growth leader through fiscal year twenty twenty-seven. Strong domestic demand from infrastructure and construction will drive this continued expansion. The sector's balance sheets are expected to support investments without significant leverage concerns. However, global oversupply and trade barriers present key monitorables for the industry. View More

New Delhi: India will remain among the fastest-growing steel markets globally in FY27 amid oversupply in global steel markets, geopolitical uncertainties, evolving trade barriers, and tightening sustainability regulations, according to a report. India Ratings and Research (Ind-Ra) said it also expects the sector's strengthened balance sheets to support ongoing investments without materially weakening leverage metrics, although the execution of expansion projects, carbon-transition requirements , and export-related regulations are key monitorables. The agency said, "India will remain among the fastest-growing steel markets globally in FY27 amid oversupply in global steel markets, geopolitical uncertainties, evolving trade barriers, and tightening sustainability regulations". Read More: Jindal Steel to spend less, focus on utilising capacity: MD VR Sharma Ind-Ra expects India's steel demand to grow at a high-single-digit percentage year-on-year in FY27 (from 7.4 per cent in FY26), driven by the government's continued infrastructure spending, healthy demand from the construction, engineering, and automotive sectors, and a likely pickup in private corporate capex. Live Events Ind-Ra has maintained a neutral outlook on the Indian steel sector for FY27, with strong domestic demand, supportive trade measures, stable raw-material costs, and disciplined capacity expansion continuing to support profitability, cash flows, and credit profiles. "India's steel demand outlook remains structurally positive, supported by infrastructure and manufacturing growth. The profitability of steel players is also supported by the government imposing safeguard duties. Read More: Tata Steel UK expects electricity access for EAF project by 2029: CEO Narendran "However, raw material price volatility, significant capacity expansion risks, lower import quota in the EU, and the impact of Carbon Border Adjustment Tax (CBAM) on EU exports are the key near- to medium-term monitorables," said Rohit Sadaka, Director-Large Corporates, Ind-Ra. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

A 'Crisil AA/stable' rating means the financial instrument has a high degree of safety regarding timely payment of interest and principal, carrying very low credit risk View More

The ?warning ?follows inspections that "revealed a consistent grade manipulation by the lessees," which ?include major steel producers, resulting in a "substantial loss" of state revenues View More

The Anawil Wire & Engineering IPO received a healthy response on the first day of bidding, with the issue subscribed 70% as investors placed bids for over 47 lakh shares. The IPO is also commanding a grey market premium of around 30%, indicating expectations of a strong listing. View More

Anawil Wire & Engineering IPO opened for subscription on Monday, August 3, and witnessed healthy investor interest on the first day of bidding. As of the latest update, the IPO was subscribed 70%, with bids received for around 47.10 lakh shares. Investor sentiment also remains upbeat in the grey market. The IPO is currently commanding a Grey Market Premium (GMP) of Rs 80, or nearly 30% over the upper price band, indicating expectations of a strong stock market debut. The Rs 177.81 crore public issue comprises a fresh issue of 53 lakh equity shares aggregating to Rs 142.69 crore and an Offer for Sale (OFS) of 13 lakh equity shares worth Rs 35.12 crore. The IPO opened for subscription on August 3 and will close on August 5, 2026. The basis of allotment is likely to be finalised on August 6, while the company's shares are expected to make their debut on the NSE SME platform on August 10, 2026, subject to regulatory approvals. The IPO has been priced in the band of Rs 257-270 per share. Investors can bid in lots of 400 shares. Retail investors are required to apply for a minimum of two lots (800 shares), translating into an investment of Rs 2.16 lakh at the upper price band. For HNIs, the minimum application size is three lots (1,200 shares), amounting to Rs 3.24 lakh. Live Events Hem Securities Ltd. is the book-running lead manager to the issue, while Bigshare Services Pvt. Ltd. is acting as the registrar. Anawil Wire & Engineering IPO GMP today According to the latest grey market trends, the IPO is trading at a GMP of Rs 80, reflecting a premium of nearly 30% over the upper issue price of Rs 270. Based on the current premium, the shares are estimated to list at around Rs 350 apiece. However, investors should note that the grey market premium is unofficial and sentiment-driven, and can fluctuate significantly before listing. How the company plans to use the IPO proceeds The company intends to utilise the bulk of the net proceeds to repay or prepay existing borrowings. Around Rs 115 crore has been earmarked for debt reduction, which is expected to strengthen its balance sheet and lower finance costs. The remaining proceeds will be used for general corporate purposes, in line with the objectives outlined in the offer document. About Anawil Wire & Engineering Founded in January 2021, Anawil Wire & Engineering Ltd. manufactures windmill towers and specialises in the fabrication of heavy and precision-engineered steel components for the renewable energy sector. The company produces customised tubular steel windmill towers of up to 140 metres for leading wind turbine generator (WTG) manufacturers and renewable energy companies. It operates two manufacturing facilities located in Koppal, Karnataka, and Kutch, Gujarat, with a combined annual production capacity of 612 windmill towers. The plants are equipped with advanced fabrication, welding, testing and quality-control infrastructure that enables the company to manufacture products meeting international quality standards. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

Jindal Steel will not take on debt for capacity expansion, focusing instead on optimizing operations. The company plans to invest in value-added products and improve cost efficiencies over coming years. A new slurry pipeline is expected to significantly reduce logistics costs per tonne. Jindal Steel aims for 100% capacity utilization before considering further expansion plans. This strategy contrasts with rivals who are increasing their capital expenditure significantly. View More

Mumbai: Jindal Steel has ruled out taking on debt to fund capacity expansion , choosing instead to focus on optimising its existing capacity and adding value to products, said VR Sharma, who returned as managing director after a four-year gap. Sharma outlined a host of cost-saving measures , which are expected to play out over the next few years. “We are not going to burden our balance sheet with borrowings. We do not want to take loans,” Sharma told analysts on a call recently. While the steelmaker will invest in value-added products , it is not in a “race” to reach a certain number in terms of production capacity, Sharma added. Also Read: Jindal Steel doubles Angul plant capacity to 12 MTPA “We have a budget to spend from our earnings, and whenever we feel that is tight, we will not spend on capex,” he said. “We are not in the race for 30, 40 or 50 million tonnes.” While rivals JSW Steel , Tata Steel and Steel Authority of India have chalked out a 40-60% jump in their capital expenditure this fiscal year from last year, Jindal Steel’s plan is to spend 11% less. Live Events The company, which in May projected a capex of ₹7,500-10,000 crore for this fiscal year, has revised it to ₹8,500 crore in its latest guidance. Jindal Steel is the only large integrated steel player in India that has not unveiled a fresh capacity expansion roadmap beyond its current plan, which is to increase capacity at its Angul plant to more than 25 million tonnes. JSW Steel , Tata Steel and AM/NS India have continued to announce new multi-million-tonne projects. “Our first and foremost focus is that we should reach 100% capacity utilisation,” Sharma added. After that, he said, Jindal Steel will focus on cutting costs. One of the key levers for these cost savings will be the slurry pipeline, the company’s senior management said. Once commissioned, the slurry pipeline will help cut logistics costs and lead to savings of as much as ₹700 per tonne, they said. Sourcing more coal from its captive mines and economies of scale as the company ramps up production will also lead to cost savings, they said. Jindal Steel currently has an annual production capacity of 15.6 million tonnes. Also Read: Jindal Steel, Thyssenkrupp pause talks on steel unit stake It had an output of 9.25 million tonnes in fiscal 2026, which the company plans to increase to 11.50 million tonnes this financial year. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Steel giant invests in breakthrough processes for long-term clean transition, alongside the use of eco-friendly stop-gap substitutions View More

While the leak of key exam papers was the trigger for the recent student protest in India, rising unemployment is the real fuel angering Gen Z in the country. View More

NEW DELHI, INDIA - JULY 20: Security personnel carry out Lathi charge during CJP protest March to near the Parliament House on July 20, 2026 in New Delhi, India. (Photo by Raj K Raj/Hindustan Times via Getty Images)Hindustan Times | Hindustan Times | Getty Images India's youth unemployment crisis has become one of the biggest vulnerabilities for Prime Minister Narendra Modi's government, exposing the gap between the country's economic ambitions and the reality facing millions of young graduates.The frustration erupted into the open this month after a leaked paper forced a retest of India's ultra-competitive medical entrance exam, prompting nationwide student protests led by a viral, social media-focused youth movement called the Cockroach Janta Party. While the exam scandal was the immediate trigger, economists say the demonstrations reflected something much deeper: a generation struggling to find secure, well-paying jobs despite spending years competing for an education.Seeing footage of police fire tear gas at student protesters in Delhi on July 20 struck a nerve with 27-year-old Mumbai professional Abheet Mohanty (whose name has been changed due to the sensitive nature of the topic). He said he wasn't protesting because of one leaked exam paper, but because of what it represented.The Gen Z students in the crowd were calling for accountability from the government after exam papers were leaked in May for a crucial medical entrance exam test, also known as the National Eligibility cum Entrance Test (NEET). While a retest took place in June, more than 20 students died by suicide in the aftermath of the leak."I felt for the students because I was a NEET student back in 2018," Mohanty told CNBC, recalling the immense pressure he felt as his parents pushed him to take the test, which would help him land a secure job with good pay.Mohanty didn't pass the test and instead pursued a degree in communications. "It was very difficult to get a job," he said. After waiting a year, he landed a job in Mumbai, but his parents insisted that he take the NEET again instead. They said his monthly salary of 20,000 rupees ($208) was "unsustainable" in Mumbai. Mohanty joined the Gen Z protests in the city on July 23.His experience is increasingly common. India has the world's largest Gen Z population, but also faces one of its toughest employment challenges. Graduate unemployment among 15-to 25-year-olds is close to 40%, according to the State of Working India 2026 report, while graduates accounted for two-thirds of the country's unemployed in 2023. As good jobs become harder to find, millions of young Indians are pinning their hopes on a handful of ultra-competitive entrance exams for medicine, engineering and government jobs that offer one of the few reliable paths to secure, well-paid jobs.Unsurprisingly, the number of students applying for the NEET exam rose 50% to over 2.2 million between 2019 and 2026, according to data from the National Testing Agency. And the scramble extends well beyond medicine. Millions of students also compete for the Joint Entrance Examination (JEE) to enter the prestigious Indian Institutes of Technology (IITs), the Common University Entrance Test (CUET) for undergraduate admissions, and the Union Public Service Commission's (UPSC) civil services examination. In India's tech city Bengaluru, 24-year-old graphic designer Aditi Garg faces a similar dilemma. Jobs are rare, applicants are many, and as a result, "companies pay peanuts," she told CNBC.More than half a decade ago, Garg failed to get into the Indian Institute of Technology (IIT), a prestigious institute, despite a good score. "I have lost count of the number of jobs I applied to last year," said Garg, adding that people of her generation are "barely able to find a job or settle for one that barely pays bills." There is little room for negotiating better pay, she explains, as there are "always a hundred other people" desperate enough to do the job for less. This angst — and frustration at India's state of education and economy — is what Garg said drove her to join the offshoot of the Delhi student protest in Bengaluru. Rush for NEET Neelanjan Sircar, an associate professor in the division of social sciences at Ahmedabad University, told CNBC that the appeal of medicine and government jobs to young people is clear. "In a country where 'nearly one in two graduates is not getting a job,' young people are choosing to take routes like the NEET that guarantee one," he said. NEW DELHI, INDIA - JUNE 21: Students arrive at an examination centre to appear for the National Eligibility-cum-Entrance Test (NEET-UG) at RK Puram, on June 21, 2026, in New Delhi, India. Hindustan Times | Hindustan Times | Getty Images Seventeen-year-old Dimpy Gola (name changed) sat the NEET exam twice this year, first in May and then again when it was rescheduled in June. She did not score high enough to secure a medical college place and now plans to take a gap year before trying again next year.Even if she gets a master's degree in science and a PHD, her prospects of finding a job will be "uncertain," she said. Last week, India's Education Minister Dharmendra Pradhan resigned in response to the Gen Z student protests — which Gola welcomed. She said the paper leak had "distressed" many students, especially those who had dropped out for more than a year in an effort to pass the test. Angry youth The protests were notable because they targeted a government that has largely maintained strong electoral support among young voters. Experts say frustrations over education and employment are emerging as one of the biggest vulnerabilities for the Modi government.While the exam leaks were the immediate trigger for the protest, the underlying issue is the limited supply of "secure, well-paid jobs" in India, Alexandra Hermann Prasad, lead economist at Oxford Economics, told CNBC.India's graduate jobs problem has been building for years. Access to higher education has expanded rapidly, but job creation has failed to keep pace. Between 2004 and 2023, the country produced roughly 5 million graduates each year, but only 2.8 million found jobs, and even fewer secured salaried employment, according to the State of Working report.Modi inherited many of these structural challenges when he took office in 2014, but much of his political appeal rested on promises of economic transformation and better employment opportunities. Economists say progress has been uneven, with India's shift from agriculture into higher-productivity manufacturing proving slower than many had hoped. watch nowVIDEO3:4503:45CJP's victory will have 'galvanizing effect' on other civil groups: ExpertInside India Global research house Bernstein, in a report in April, underscored the failure of India's economic policies to shift its workforce away from agriculture, boost the manufacturing sector, and direct investment into sovereign artificial intelligence tech.The report highlighted that nearly 45% of the workforce remains in agriculture, which contributes just 15% to 16% of GDP, while manufacturing's share of the economy has remained largely unchanged. Bernstein also warned that artificial intelligence could eventually threaten India's IT services and business process outsourcing sectors, another traditional source of upward mobility.It means that, more than a decade after Modi came to power, the government's economic record is increasingly being judged by a generation of young graduates whose expectations have risen faster than employment opportunities. Slow job growth Twenty-one-year-old Arshia Mathur from Delhi attended the July 20 Gen Z protest because, despite graduating with an English Honors degree, she feels "nervous" and "skeptical" about finding a job."I have applied to a lot of roles" but no one responds, she said, adding that her college seniors and friends have a similar experience. She hopes that things will improve once she gets a master's degree.Though Mathur said she is apolitical, she briefly followed the Cockroach Janta Party's Instagram page and supported the protests. The satirical youth movement — formed in response to comments comparing unemployed young people to cockroaches — resonated with her.In the aftermath of the protest, Modi appointed a new Education Minister Pralhad Joshi and announced the creation of a task force, headed by Indian tech entrepreneur Nandan Nilekani, to overhaul the education system.  On Thursday, the parliament passed a bill to amend the anti-paper leak law, enforcing stricter punishment for those found to be involved with examination leaks, such as a jail term of up to 10 years and a fine up to 50 lakh rupees. But as educated young Indians increasingly feel the promise of upward mobility has not materialized, economists warn that more will need to be done to prevent India's much-celebrated demographic dividend becoming a demographic burden. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Talks are underway with National Grid -- the power supplier -- to work out solutions if the power supply can start early as Tata Steel UK (TSUK) will have to conduct trials before operationalising the project View More

Tata Steel UK's new electric arc furnace project is on track for completion by 2028. The company anticipates securing electricity access for the facility by 2029. Discussions are ongoing with National Grid to potentially start power supply earlier. This project aims to drastically reduce site-level CO2 emissions. The low-carbon EAF project represents a substantial investment in decarbonisation efforts. View More

New Delhi: Tata Steel UK is expecting to secure access to electricity for its 3.2 million tonne electric arc furnace by 2029, company CEO T V Narendran said, noting that there is no delay in the construction of the project. As part of its decarbonisation plan , the steel major is setting up the UK's largest low-carbon EAF (electric arc furnace) project at Port Talbot replacing the non-operational blast furnace plant of similar capacity with an investment of 1.25 billion pounds. In a virtual interaction, Narendran, who is also the MD of Tata Steel, said the project is on track and will be ready by 2028. But the power supply may start in 2029. Read more: Tata Steel can unlock a lot of value with less capital downstream: CEO & MD T V Narendran Talks are underway with National Grid -- the power supplier -- to work out solutions if the power supply can start early as Tata Steel UK (TSUK) will have to conduct trials before operationalising the project. Live Events "We are working with the power supplier to see if can we get some power supply before, because they are building the infrastructure. So if we can get one line, then we can do some of the trials before we get the complete supply. Once the plant is ready, we'll also do the cold trials, etc. So, there is a plan being made to mitigate the impact of the delay in the power infrastructure," he said. Sharing his assessment, Narendran said as of now, 2028 is the year by when the project will be ready and by 2029 operations are expected to start. Read more: Tata Steel Q1 net profit beats estimates; approves Rs 33,873 crore capex The CEO noted that major demolition works at the site have been completed, and fabrication and delivery of equipment are continuing at a pace. Securing access to higher-power electricity is critical for the planned transition. The project -- being built at 500 million pounds of government support -- aims to reduce site-level CO2 emissions by 90 per cent -- equivalent to 5 million tonnes annually. In May 2024, Tata Steel signed a connection offer with the Electricity System Operator (ESO). The agreement involves National Grid building new electrical infrastructure capable of powering the 3.2 million-tonne electric arc furnace by the end of 2027. As per information shared by Tata Steel, NESO (the National Energy System Operator) is a public body that manages the connection process, including the connection contract with TSUK. NESO also manages operations of the electricity grid in the UK. National Grid Electricity Transmission (NGET) is a private company that builds, owns, and maintains the connection. The Tata Steel Group is one of the world's leading steel producers, with an annual crude steel production capacity of 35 million tonnes. It is also among the most geographically diversified steel companies globally. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

The conglomerate that Warren Buffett built rallied to an eight-month high this week. There could be more gains ahead if they play catch up with the S&P 500. View More

In this articleBRK.B.SPXAAPLKOBACBRK.BFollow your favorite stocksCREATE FREE ACCOUNT (This is the Warren Buffett Watch newsletter, news and analysis on all things Warren Buffett and Berkshire Hathaway. You can sign up here to receive it every Friday evening in your inbox.)Berkshire shares hit eight-month highBerkshire Hathaway shares rallied to an eight-month high this week and there could be more gains ahead if they continue to catch up to the S&P 500.The B shares closed Tuesday at $512.37, their highest level since November 28, when they finished at $513.81.They closed Friday at $511.54, down 5.2% from the all-time closing high of $539.80 on May 2 of last year, the day before Warren Buffett revealed he would step down as CEO at the end 2025. Zoom In IconArrows pointing outwards The Class A shares ended Tuesday at $768,010, also their highest close since November 28's $770,100.Friday's close of $766,600 was 5.3% below their all-time closing high of $809,350. Zoom In IconArrows pointing outwards A story in Barron's says Berkshire's rally "has room to run" since the stock remains "well behind" the benchmark S&P 500, which is 7.6 percentage points ahead.But Berkshire has erased more than half of its 17.5 percentage point deficit just two months ago. Zoom In IconArrows pointing outwards Berkshire is also lagging behind competitors in two key sectors: railroads ... Zoom In IconArrows pointing outwards ... and insurance. Zoom In IconArrows pointing outwards Another positive for Berkshire is the big gains for three of its biggest equity portfolio holdings.Number one Apple, now worth more than $70 billion, is up 13.6% so far this year.Coca-Cola, Berkshire's third largest position at $35 billion, has jumped 25% year-to-date. Earnings this week came in ahead of expectations and Coke raised its full-year outlook.Number four Bank of America is up 12.6% on the year. That stake is now valued at almost $32 billion. Zoom In IconArrows pointing outwards Berkshire's gain of around 3% on Tuesday may have been partially fueled by UBS analyst Brian Meredith raising his price target on the B shares to $585 from $570, and on the A shares to $877,848 from $854,596.While maintaining a "buy" rating, Meredith also edged his earnings estimates higher and welcomed a Barron's report two weeks ago that Berkshire appeared to have bought back as much as $11 billion of its stock in the second quarter.We'll get the actual number when Berkshire releases second-quarter results, expected on Saturday, August 8.BUFFETT & BERKSHIRE AROUND THE INTERNETSome links may require a subscription:Barron's on MSN: Warren Buffett's worst-ever deal benefits this place the mostBarron's on MSN: Why Berkshire Hathaway would win if the Fed lifts interest ratesThe Motley Fool: Why Berkshire's stake in Apple still matters more than people thinkThe Motley Fool: Warren Buffett's legacy oil bet is paying off under Greg Abel. Nobody's talking about it.HIGHLIGHTS FROM CNBC'S BUFFETT ARCHIVEWhy Buffett doesn't ask his friends for favors (2003)Warren Buffett responds to a request from an audience member to enlist the support of his "cousin" Jimmy Buffett in saving the trees in the Florida botanical garden and theme park Cypress Gardens. watch nowVIDEO0:0000:00Why Buffett doesn't ask his friends for favors2003 Berkshire Hathaway Annual Meeting AUDIENCE MEMBER: Several weeks from now I'll be before [Florida] Governor [Jeb] Bush with the Friends of Cypress Gardens. We have a website ... trying to keep a developer from clear-cutting the trees in Cypress Gardens, a national treasure.And my question is, would you consider contacting your "cousin," [musician] Jimmy Buffett, about possibly helping us in some way? ...WARREN BUFFETT: I get asked to contact — probably the one I get asked to contact the most is Bill Gates, but I get asked to contact all kinds of people.And I mean, everybody is slipping me envelopes with letters in them, sending things to the office and saying, "Won't you get this person?" and all they can say is no.I don't do — I don't make requests of my friends, basically, for anything.And I just — I would spend the rest of my life doing it. They would feel — I would never know — (applause) — you know, what they were doing —You know, I would never know what they were doing because I was asking versus what they really felt.I mean it's an impossible — from my standpoint at least — that's an impossible game to get into, in terms of that.I mean when [Washington Post publisher] Kay Graham was alive, everybody, you know, wanted her for one reason or another. And they've all got causes.And, frankly, they, you know, they want to use me to get her, or Jimmy Buffett, or whomever, to say yes to something that they're saying yes to, partially, because they feel they don't want to say no to me.And I, you know, that — I just don't want to use my friendship for that purpose, frankly.And I don't do it, even for things that I strongly believe in, myself...I've never had one of those honorary dinners where they send out, you know, to all the suppliers to Berkshire and everything and start leaning on them and saying, you know, "We're honoring Warren."Well, hell, if they want to honor me, they can honor me without soliciting all my friends for money. I mean, I don't consider that much of an honor if the reason they picked me was because I got rich friends.So, I just don't do that.BERKSHIRE STOCK WATCHFour weeks Zoom In IconArrows pointing outwards Twelve months Zoom In IconArrows pointing outwards BRK.A stock price: $766600.01BRK.B stock price: $511.54BRK.B P/E (TTM): 15.23Berkshire market capitalization: $1,102,963,354,142Berkshire Cash as of March 31: $397.4 billion (Up 6.5% from Dec. 31)Excluding Rail Cash and Subtracting T-Bills Payable: $380.2 billion (Up 3.0% from Dec. 31)Berkshire repurchased $234 million of its shares in Q1 2026.(All figures are as of the date of publication, unless otherwise indicated)BERKSHIRE'S TOP EQUITY HOLDINGS - July 31, 2026 Zoom In IconArrows pointing outwards Berkshire's top holdings of disclosed publicly traded stocks in the U.S. and Japan, by market value, based on the latest closing prices.Holdings are as of March 31, 2026, as reported in Berkshire Hathaway's 13F filing on May 15, 2026, except for:Alphabet, which includes the $10 billion in shares that Berkshire agreed to buy directly from the company, as announced on June 1, 2026. Berkshire has not yet formally disclosed whether the transaction has been completed. The entry is a combination of Class A and Class C Alphabet shares. The market price is a weighted average of the prices of the two classes.Mitsubishi, which is as of April 30, 2026The full list of holdings and current market values is available from CNBC.com's Berkshire Hathaway Portfolio Tracker.QUESTIONS OR COMMENTSPlease send any questions or comments about the newsletter to me at alex.crippen@nbcuni.com. (Sorry, but we don't forward questions or comments to Buffett himself.)If you aren't already subscribed to this newsletter, you can sign up here.Also, Buffett's annual letters to shareholders are highly recommended reading. They are collected here on Berkshire's website.-- Alex Crippen, Editor, Warren Buffett Watch Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.