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AI researchers are warning that faster AI self-improvement could eventually make advanced systems harder for humans to control. View More

In this articleGOOGLQCOMAMZNNVDAFollow your favorite stocksCREATE FREE ACCOUNT This report is from this week's The Tech Download newsletter. Like what you see? You can subscribe here.Fears over the safety of AI systems — and their potential to wipe out humanity — gained new, viral traction this week. Evan Hubinger, an alignment lead at Anthropic, said on X that he thinks there is more than a 10% chance that AI could kill all humans within the next decade, after a colleague quit over safety fears.More warnings from researchers at both Anthropic and OpenAI followed. Cue a social media frenzy.But it was in Hubinger's reply to his own post that revealed where exactly his concerns lay."What I am worried about is superintelligence arising from recursive self-improvement, as we have said is happening faster than we thought," he said. Recursive self-improvement, or RSI, is when AI itself helps improve the process of building new models, potentially leading to spiralling capability as better systems build better systems and so on. The worry is that if AI takes control of how new models are trained, the very humans who initially built those systems could lose control.WarningsBoth OpenAI and Anthropic have in recent months said that this autonomous model improvement is happening faster than they thought."Our internal data shows Claude is accelerating AI development—a possible path to recursive self-improvement, or AI autonomously building a more capable successor," Anthropic posted on X in June. "It's happening faster than we thought, and the implications deserve greater attention."While AI hasn't hit the point of RSI yet, it's already accelerating the development of AI systems. Anthropic said in a blog post from August about RSI that its engineers on average ship eight times as much code per quarter as they did between 2021-2025."AI is already at the level where it can introduce some new ideas," Vincent Conitzer, professor of computer science at Carnegie Mellon University, told me. "So it is very hard to predict at what point this process would start to drastically accelerate AI capabilities."On Saturday, OpenAI's Chief Scientist Jakub Pachocki said he was concerned that "no-one was prepared for the consequences of a continued rapid rise in machine intelligence.""If AI development continues along its current path, the systems we'll see in the next few years are likely to represent further capability jumps of equal or larger magnitude, and to increasingly drive their own development," he wrote in a company blog post.This week, warnings about RSI flooded social media from researchers at both leading labs, following Jacob Coxon's explosive resignation."It's hard to overstate how dangerous speeding towards RSI is," said Jasmine Wang, an OpenAI researcher working on alignment, on Wednesday evening."There is not yet a viable scientific plan to solve risks from recursively self-improving AI. Please look up!" said Anna Wang, who works on AGI safety and alignment at Anthropic.The futureAnthropic finished its RSI blog post by laying out three possible scenarios. In one scenario, progress at the frontier stalls and AI capabilities are widely diffused. Anthropic said it doesn't believe this is likely. A second possibility is that AI labs continue to make gains with humans in control, changing the way the world works. Anthropic said this one was "likely."But, another scenario could see AI systems become capable of full recursive self-improvement, with humans playing a "substantially diminished role in their development."How the "alignment problem [the challenge of ensuring AI pursues goals aligned with humans'] gets solved—or not—in this future is something we are least certain about."News editNvidia chipmaker TSMC saw August revenue surge over 53% to hit a record high on the back of huge demand for AI chips.Google said it would invest at least $15 billion into AI infrastructure in Finland, marking the tech giant's largest single investment in Europe.Mistral hit a $24 billion valuation as Samsung led a $3.5 billion funding round for the French startup.Qualcomm issued warrants to Amazon to acquire $4 billion worth of the chipmaker's stock as part of an AI infrastructure deal.Chinese AI labs secretly used millions of Claude exchanges to train their models, Anthropic said.One more thingwatch nowVIDEO46:5546:55Cohere CEO Aidan Gomez says China is closing the AI gapThe Tech DownloadThe Tech Download Podcast: Aidan Gomez, CEO at CohereBefore Aidan Gomez took the top position at AI startup Cohere, he was one of the co-authors of the 2017 research paper Attention Is All You Need, better known as the Transformer paper. That breakthrough became the foundation for technologies like ChatGPT, Claude, Gemini and virtually every major large language model in use today.Cohere, which develops AI models and applications specifically for businesses, is looking to stand out in the industry by positioning itself as a non-U.S. and non-Chinese player that can offer "sovereign" AI. With companies increasingly worried about who has access to their data, where that data is being processed and what that ultimately means for their business, Cohere is offering a different take.Throughout our conversation, Gomez spoke about some of the biggest topics in AI, from cybersecurity challenges to China.Some of the AI models are the "most potent cyber weapon that has ever been created," Gomez said. And on AI models out of China, Gomez said the lead of U.S. labs is "evaporating very quickly."I hope you enjoy the episode.— Arjun Kharpal, senior tech correspondent Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

The Rs 1,055.74-crore Kanohar Electricals IPO is expected to finalise its share allotment today. Once the allotment is announced, investors will be able to check online whether they have been allotted shares. The company’s stock is tentatively scheduled to list on both the BSE and NSE on September 16, 2026. View More

Investors who subscribed to Kanohar Electricals IPO may get the much-awaited allotment update today. With the public issue receiving a massive 90.51-times subscription, attention has now shifted to the basis of allotment and the company’s upcoming stock-market debut. The Rs 1,055.74-crore Kanohar Electricals IPO is expected to finalise its share allotment today. Once the allotment is announced, investors will be able to check online whether they have been allotted shares. The company’s stock is tentatively scheduled to list on both the BSE and NSE on September 16, 2026. Investor interest has also been boosted by the IPO’s grey market premium (GMP), which is currently around 35%. The premium suggests that the stock could potentially deliver a strong listing gain. However, GMP is an unofficial indicator and can fluctuate before the shares begin trading. The Kanohar Electricals IPO opened for subscription on September 8 and closed on September 10. It was subscribed 90.59 times overall. The retail portion was subscribed 20.51 times, while the Non-Institutional Investors (NIIs) category saw 87.74 times subscription. Qualified Institutional Buyers (QIBs) subscribed 215.37 times. The company had set the IPO price band at Rs 601–Rs 632 per share. The lot size was fixed at 23 shares, meaning retail investors applying at the upper end of the price band had to invest a minimum of Rs 14,536 for one lot. Live Events Nuvama Wealth Management Limited and IIFL Capital Services Limited are the book-running lead managers for the issue, while MUFG Intime India Private Limited is acting as the registrar. Investors can check their allotment status through any of the following platforms: MUFG Intime India (Registrar) Visit the MUFG Intime IPO allotment page.Select Kanohar Electricals from the drop-down menu.Enter your PAN, application number, or DP/Client ID.Click Submit to view your allotment status. NSE Visit the NSE IPO allotment page.Select Equity.Choose MUFG Intime from the list.Enter your application number and PAN to check the status. BSE Visit the BSE IPO allotment link.Tick Equity under Issue Type.Choose MUFG Intime from the drop-down menu.Enter your application number or PAN.Complete the captcha verification and click Search to view your allotment details. ALSO READ: NSE unlisted shares vs Nifty: Where did investors make more money ahead of mega IPO? Kanohar Electricals IPO GMP Today The Kanohar Electricals IPO continues to trade at a healthy premium in the grey market. The latest Grey Market Premium (GMP) stands at Rs 223 per share, implying a premium of around 35% over the IPO's upper price band of Rs 632. Based on the current GMP, the estimated listing price stands at around Rs 855 per share, suggesting a potentially strong listing gain over the IPO's upper price band. GMP Note: The Grey Market Premium (GMP) is an unofficial indicator of market sentiment and is not regulated or guaranteed by stock exchanges. GMP levels can change before the listing, and the actual listing price may vary significantly from estimates based on grey-market trends. Kanohar Electricals IPO Objective Kanohar Electricals plans to use the net proceeds from the IPO primarily to fund its capital expenditure requirements, with an estimated allocation of Rs 64.18 crore. The company also proposes to deploy Rs 155 crore towards incremental working capital requirements. The remaining proceeds will be utilised for general corporate purposes. Overall, the company plans to utilise approximately Rs 219.18 crore from the issue proceeds towards these objectives. About Kanohar Electricals Incorporated in 1972, Kanohar Electricals is an Indian transformer manufacturer serving the power transmission, railways, renewable energy, and power distribution sectors. The company operates across two segments: transformer manufacturing and EPC services. It is one of only four Indian manufacturers certified by RDSO to manufacture 100 MVA, 132 kV Scott transformers. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of 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)

Trump economic advisor Kevin Hassett owned as much as $5 million in Coinbase while serving as the White House's top economic advisor, his disclosure shows. View More

In this articleCOINFollow your favorite stocksCREATE FREE ACCOUNT Kevin Hassett, director of the National Economic Council, speaks to members of the media outside the White House in Washington, DC, US, on Tuesday, June 2, 2026. Aaron Schwartz | Bloomberg | Getty ImagesWhite House National Economic Council Director Kevin Hassett held between $1 million and $5 million worth of shares in crypto giant Coinbase at the end of 2025, as President Donald Trump's administration rapidly rewrote federal cryptocurrency policy.Hassett's previously unreported 2025 annual financial disclosure lists the investment as vested Coinbase shares. He formerly worked as an advisor to the company. The filing shows he had not fully divested from the company nearly 11 months into Trump's second term. While the filing was recently released, it doesn't indicate whether Hassett still holds the shares as it covers only 2025.Three days after taking office in 2025, Trump established the President's Working Group on Digital Asset Markets within the NEC. His executive order included Hassett's White House position or a designee as a member and required the group's final recommendations to reach Trump through Hassett's office.The group, chaired by the then-White House crypto advisor David Sacks, went on to propose sweeping regulatory changes to digital-asset markets, banking, stablecoin and taxation. The administration has also reversed Biden-era crypto policies, created a government bitcoin reserve and pushed Congress toward a broader federal regulatory framework.Hassett, who advised Coinbase from 2021 until January 2025 before joining the White House, has said he stayed out of crypto matters while ethics officials addressed his investment.The White House declined to answer CNBC's questions about whether Hassett still holds the shares or whether holding them has prevented him from working on matters within his office's purview.When CNBC asked about the shares in June 2025, Hassett said he had not sold them because he did not want to create the appearance that he was timing a sale. He said he had received guidance from "the ethics people" and was determining "what needs to be done.""Meanwhile, I have recused from any matter that's related to crypto," Hassett said on CNBC's "Squawk Box."The White House, in response to CNBC's questions about the new financial disclosure, indicated that recusal continues."Since day one, Kevin Hassett has and continues to be in full compliance with all ethical requirements, including his recusal from all cryptocurrency-related matters," White House spokesperson Kush Desai told CNBC in a statement.The holdings raise questions, an ethics expert said, about whether Hassett's Coinbase stake created potential overlaps with his official duties and whether managing those conflicts through recusal sidelined one of Trump's top economic advisors from a major policy priority housed within the council he leads."I think he's got a major conflict of interest, or the appearance of one," said Virginia Canter, chief counsel and director of ethics and anti-corruption at Democracy Defenders Fund. What remains unclear is what a recusal means in practice — which meetings, decisions or policy discussions has Hassett avoided and how much of his work as NEC director has it affected.The crypto working group's final report lists Robin Colwell, a deputy assistant to the president for national economic policy, as the NEC representative rather than Hassett.But recusal can only solve so much, said Canter, who previously served as an ethics lawyer at the Securities and Exchange Commission. If Hassett's recusal extended broadly across crypto, it could have sidelined him from a major part of his job, she said, like coordinating economic policy across agencies such as the Treasury and Commerce Departments, the SEC and the Commodity Futures Trading Commission, all of which were represented on the crypto working group. "Crypto was a major initiative of the Trump administration," Canter said. "Did [Hassett] not review anything in crypto? Did he not participate in any meeting with the administration on policy? Did everyone know not to talk about crypto around him? I doubt it."During Trump's second term, crypto has also become a major source of personal income for the president. Trump reported more than $1.4 billion in income from his family's cryptocurrency ventures in 2025, including through Trump-linked World Liberty Financial.Meanwhile, Coinbase, whose shares have tanked since Trump returned to office, has been a key player in the industry's push for a new federal regulatory framework.Just over a month into Trump's term, the SEC dismissed with prejudice its enforcement lawsuit against Coinbase, meaning it can't bring the same claim again. The SEC said the move was intended to facilitate its broader overhaul of cryptocurrency regulation and was not based on an assessment of the merits of the case, which in 2023 charged Coinbase with operating an unregistered securities exchange and for failing to properly register its crypto staking program.Coinbase was also a major financial backer of the Fairshake super PAC and its affiliates during the 2024 elections, and crypto groups have continued spending heavily ahead of this year's midterms as the industry presses Congress to pass new digital-asset rules. Coinbase has pledged another $25 million in spending ahead of this year's midterms as the crypto industry presses Congress to pass new digital-asset rules.Coinbase CEO Brian Armstrong has repeatedly met with Trump and senior White House officials. He attended Trump's White House crypto summit in March 2025, met privately with Trump this March and returned to the White House in August as Trump pressed Congress to pass the Clarity Act.That push remains active. Armstrong told CNBC on Thursday that the Clarity Act was "ready to get a yes vote" ahead of a key Senate vote expected Sept. 15. Even if the bill fails, he said, SEC and CFTC rulemaking would provide the industry greater regulatory clarity."We're going to get regulatory clarity one way or another," Armstrong said. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Jim's current faves include three tech names and a bank stock. View More

On Thursday, Jim Cramer and portfolio director Jeff Marks held the CNBC Investing Club's September Monthly Meeting. They ran through each stock in the portfolio, with Jim putting special emphasis on his six favorite names to buy right now as we become more selective about our AI exposure. He also dedicated some time at the start of the meeting to lessons learned from our recent exit of Corning . 6 names to buy now Kimberly Clark : The pending Kenvue acquisition should add scale, lower costs, and give management an opportunity to reinvigorate its portfolio of under-managed consumer health brands. The Cottonelle and Huggies parent was hit hard on Wednesday after management lowered its near-term earnings outlook , and we're considering whether to use the pullback to increase our small position. Bank of New York : This is a lower-risk financial that provides a nice counterbalance to Capital One. Roughly 70% of its revenue is fee-based, making the business less exposed to the credit cycle and interest rate changes. CEO Robin Vince's transformation is also delivering results, with BNY posting 14 consecutive quarters of year-over-year sales growth and record sales in each of the past two. Intel : We like Intel after the stock's sharp pullback, exacerbated by concerns about the government lockup's expiration. Given President Donald Trump's recent posts touting gains in U.S. government holdings, a near-term sale seems unlikely. The chipmaker is also raising CPU prices and attracting foundry customers, and we think the stock can recover its losses and move higher . Micron : The memory maker remains one of our highest-conviction semiconductor names , trading at just six times fiscal 2027 earnings. Memory pricing continues to rise, advanced HBM shipments from its new factory will begin in January, and we see a potential catalyst from a large buyback once government restrictions expire in December. Meta : The market is underappreciating the favorability of Meta's recent legal settlement . With that overhang diminished, the company can focus on becoming a major cloud-services provider. Even after its rally, the stock trades at only about 19 times earnings, leaving us convinced there's more upside . The Facebook and Instagram parent is our favorite of the Magnificent 7 . FedEx : FedEx is a buy at roughly 16 times earnings, and we think the stock is biding its time before a breakout. We expect a strong holiday season and believe the shipping giant has an opportunity to gain share from UPS , which makes us willing to look past concerns about higher fuel prices. Tech and other AI names Nvidia : We haven't given up on Nvidia despite curbing our enthusiasm across the broader semiconductor group. At roughly 14 times fiscal 2028 estimates, the stock is exceptionally inexpensive given its earnings power. The acquisition of Hugging Face only strengthens its AI ecosystem. We view Nvidia as an own-it, don't-trade stock. GE Vernova : We still like the stock, despite concerns about data center construction . Turbine cancellations haven't materialized, and order growth has actually accelerated in some states considering data center moratoriums, reinforcing our confidence in the long-term power demand story. Eaton : The electrical equipment supplier's opportunity extends well beyond data centers . It would have an excellent business simply from rebuilding the aging electric grid. Eaton's aerospace and traditional electrical operations make it less risky than a pure-play data center name. Qnity : Despite the stock's sharp decline, Qnity makes some of the best materials used in semiconductor manufacturing. The market may better appreciate this DuPont spin-off once it attracts more technology analyst coverage rather than being viewed primarily through a chemicals lens. Amazon : Of the hyperscalers, Amazon has the most going for it outside the data center thanks to its fast-growing cloud business and dominant retail operation. Amazon could be the first hyperscaler to show investors substantial profits from AI . Alphabet & Microsoft : We expect Alphabet and Microsoft to report spectacular data center numbers by this time next year, and that growth will demonstrate why the companies have been willing to invest so aggressively. CrowdStrike & Palo Alto : As AI agents become more capable — and potentially more dangerous — the need for cybersecurity to keep them in check is only growing . CrowdStrike and Palo Alto are best positioned to address these emerging threats, making them our two favorite ways to play the rising cybersecurity demands created by AI. Salesforce : The software giant's rally ahead of Dreamforce showed why we've stuck with the stock. Next week's event could provide further evidence that major enterprises remain committed to Salesforce, and we don't think software will surrender all its recent hard-fought gains. Apple: We continue to view Apple as an own-it, don't-trade-it stock as John Ternus takes over as CEO. The product pipeline remains strong, and the new foldable iPhone could be a major hit. Broadcom : This chipmaker is our least favorite tech holding, so we trimmed the position heading into the quarter. Management offered some bold forecasts on its latest earnings call, but we worry that increasingly fierce competition from both Nvidia and Marvell could make those targets harder to achieve. The rest Capital One : The bank remains frustratingly cheap at roughly 10 times earnings, even accounting for the risk that higher rates could eventually increase credit losses. The consumer balance sheet remains healthy , giving us confidence to wait for the stock to move higher . Wells Fargo : A valuation of roughly 12 times earnings is absurd. Higher rates could slow some of that progress, but the healthy consumer backdrop and discounted valuation give us reason to stay patient. Goldman Sachs : This is the investment bank's year, particularly with underwriting activity strengthening. At roughly 15 times earnings, the stock appears priced as if the IPO market won't recover, even though we expect plenty more offerings to come. Cardinal Health : We still like the drug distributor even after its strong run and recent pullback. Its valuation remains below McKesson and roughly in line with Cencora , which understates the quality and diversification of Cardinal's business and leaves room for the stock to reach new highs. Johnson & Johnson : JNJ remains the class of the healthcare industry, with 18 potential blockbusters and an underappreciated medical-device business. We don't expect the stock to blow investors away after its recent run, but the pipeline is too strong for us to consider selling. Eli Lilly : The drugmaker may not deliver the same spectacular gains from here after its huge run , but we see no reason to sell. Its pipeline of next-generation GLP-1 treatments gives us confidence that the company's growth story still has plenty of runway. Boeing : Geopolitical tensions need to ease so investors can refocus on the company's improving fundamentals. We expect Boeing to generate immense cash flow next year, but we cannot get too excited until the war is no longer dominating sentiment. DuPont : The stock remains in a holding pattern, despite a terrific quarter. Management needs to tell a better story for the stock to begin reflecting the underlying performance. Otherwise, it may be time to move on to more fruitful investments after next quarter. Home Depot : The home improvement retailer remains heavily dependent on interest rates, which are moving in the wrong direction. We're glad we reduced our position and see little reason to become more aggressive until the rate backdrop improves. FedEx Freight : The stock continues to struggle following its separation from FedEx. Once that technical stock pressure post-spin clears and oil prices come down, investors will recognize it is one of the highest-quality less-than-truckload companies in the market. Linde : We view the stock's recent pause as a rest rather than a change in the thesis. Too many of the industrial gas giant's businesses are performing well, particularly across healthcare, energy and semiconductors, for us to become concerned. Starbucks : The coffee chain delivered another good quarter, and we think the turnaround is approaching an inflection point . The stock remains volatile, but we'd view a drop below $100 as an opportunity to buy. Honeywell : This investment has been a mistake so far, and we're running out of patience. We're holding the remaining business because climate control and security offer legitimate growth opportunities, but we need a substantially better quarter next time because there can be no more excuses. TJX Companies : The discount retailer's latest quarter was plainly disappointing, but we're willing to give it the benefit of the doubt. The stock's recent decline is beginning to reflect much of the setback, but we need next quarter to show that this was an aberration before becoming more confident. Costco : We're increasingly cautious on the big-box retailer after Walmart's decline highlighted the risk of paying a premium multiple for retail. At roughly 44 times earnings, Costco needs to execute, and another mediocre quarter would force us to reconsider our holding. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

Kanohar Electricals IPO entered its final bidding day after being subscribed 10.22 times by Day 2. A 35% grey market premium and positive brokerage recommendations have boosted investor interest. View More

The Kanohar Electricals IPO continued to attract strong investor interest on the final day of bidding, with the issue receiving an overall subscription of 190.59 times against the 1.16 crore shares on offer, showed the NSE data. A grey market premium (GMP) of around 35% has added to the buzz, keeping the issue firmly in focus ahead of its anticipated stock market debut. By the end of Day 2, the IPO had been subscribed 10.22 times, with investors bidding for shares against the 1.16 crore shares on offer. Retail investors displayed particularly strong demand, with the retail individual investor (RII) portion subscribed 8.49 times, compared with the 58.46 lakh shares reserved for the category. Kanohar Electricals IPO is a book-built issue worth Rs 1,055.74 crore, comprising a fresh issue of 47.47 lakh shares worth Rs 300 crore and an offer for sale (OFS) of 1.20 crore shares amounting to Rs 755.74 crore. The IPO price band has been fixed at Rs 601–Rs 632 per share, while the lot size is 23 shares. At the upper end of the price band, retail investors will need to shell out a minimum of Rs 14,536 for one lot. Live Events Kanohar Electricals IPO opens for subscription on Sep 8, 2026 and closes on Sep 10, 2026. The allotment for the Kanohar Electricals IPO is expected to be finalized on Sep 11, 2026. Kanohar Electricals IPO will list on NSE and BSE with a tentative listing date fixed as Sep 16, 2026. Nuvama Wealth Management Limited and IIFL Capital Services Limited are the book-running lead managers for the issue, while MUFG Intime India Private Limited is acting as the registrar. Kanohar Electricals IPO Subscription Status Among investor categories, the Retail Individual Investors (RIIs) portion was subscribed 20.51 times, with 58.46 lakh shares reserved for the category. Non-Institutional Investors (NIIs) segment was subscribed 87.74 times against the 25.05 lakh shares offered. Meanwhile, the Qualified Institutional Buyers (QIBs) category recorded a subscription of 215.37 times, compared with the 33.40 lakh shares reserved for institutional investors. Kanohar Electricals IPO GMP Today The Kanohar Electricals IPO continues to trade at a healthy premium in the grey market. The latest Grey Market Premium (GMP) stands at Rs 223 per share, implying a premium of around 35% over the IPO's upper price band of Rs 632. Based on the current GMP, the estimated listing price stands at around Rs 855 per share, suggesting a potentially strong listing gain over the IPO's upper price band. GMP Note: The Grey Market Premium (GMP) is an unofficial indicator of market sentiment and is not regulated or guaranteed by stock exchanges. GMP levels can change before the listing, and the actual listing price may vary significantly from estimates based on grey-market trends. IPO Objects of the Issue Kanohar Electricals plans to use the net proceeds from the IPO primarily to fund its capital expenditure requirements, with an estimated allocation of Rs 64.18 crore. The company also proposes to deploy Rs 155 crore towards incremental working capital requirements. The remaining proceeds will be utilised for general corporate purposes. Overall, the company plans to utilise approximately Rs 219.18 crore from the issue proceeds towards these objectives. Financial Performance Kanohar Electricals reported a 45% year-on-year increase in total income, rising from Rs 457.30 crore in FY25 to Rs 662.86 crore in FY26. The company also recorded strong growth in profitability during the period. Profit after tax (PAT) nearly doubled, climbing 99% from Rs 65.12 crore in FY25 to Rs 129.73 crore in FY26, highlighting a significant improvement in its bottom line. About Kanohar Electricals Ltd. Incorporated in 1972, Kanohar Electricals Limited is an Indian transformer manufacturer serving the power transmission, railways, renewable energy and power distribution sectors. The Company operates across two segments: transformer manufacturing and EPC services. It is one of only four Indian manufacturers certified by RDSO to manufacture 100 MVA, 132 kV Scott transformers. Kanohar operates two manufacturing facilities in Meerut, Uttar Pradesh, with a combined transformer manufacturing capacity of 19,200 MVA as of March 31, 2026. The Company also has five regional offices across India and a workforce of 526+ employees. Should you subscribe? According to AnandRathi research report, "The company offers exposure to the structural growth in India’s power transmission and distribution sector, supported by rising grid investments, renewable energy integration and increasing demand for high-voltage transformers. However, the high customer concentration, dependence on the Transformer Manufacturing Business and government/transmission utility orders warrant a measured outlook. At the upper price band, the company is valued at 38.6x FY26 P/E and 28.0x EV/EBITDA, implying a post-issue market capitalisation of Rs 50,046 million. While the valuation is at a premium to Transformers & Rectifiers (India) Limited at 32.2x P/E and 20.8x EV/EBITDA, the premium is supported by Kanohar’s superior recent growth and profitability profile. Accordingly, we recommend a “Subscribe – Long Term” rating for the issue. SBI Securities said, “At the upper price band of Rs 632, the issue is valued at 38.6x FY26 post-issue P/E, which appears reasonable given its strong growth trajectory, niche certifications, robust order pipeline and favourable industry tailwinds. We recommend subscribing to the issue at the cut-off price.” Arihant Capital said, “At the upper price band of Rs 632 per share, the issue is valued at approximately 38.58x FY26 earnings, depending on the share-count methodology used. The premium valuation is supported by strong earnings growth, improving margins, high ROCE and a sizeable order book. However, investors should monitor customer concentration, government/PSU dependence, execution risk, commodity-price volatility and the sustainability of the recent margin expansion. We recommend subscribing for investors with a medium-to-long-term horizon.” (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of 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)

Google on Wednesday said it would invest $15.1 billion into AI infrastructure in Finland, marking the tech giant's largest single investment in Europe. View More

In this articleFOT-FFFOT-FFMSFTGOOGLNBISMETAFollow your favorite stocksCREATE FREE ACCOUNT Google on Wednesday said it would invest at least 13 billion euros ($15.1 billion) into AI infrastructure in Finland, marking the tech giant's largest single investment in Europe.Finland has emerged as a key location for data centers amid the AI boom, with hyperscalers and developers eyeing its available land and power, which is in short supply throughout most of Europe.Google will deploy the capital through 2028, including into data centers and other supporting investments like energy projects, the company said in a statement.It added that it has signed a 22-year life extension power purchase agreement (PPA) with Finnish energy company Fortum — which saw its stock jump 11% on the news."Google is proud to deepen our roots in Finland with the company's largest single investment in Europe, building on more than 15 years of sustained investment in Finland," Ruth Porat, president and chief investment officer of Alphabet and Google, said in a statement. "This investment underscores Google's commitment to grow our presence responsibly, pairing the expansion of our technical infrastructure with new energy capacity, grid enhancements, and energy affordability initiatives."Finland's booming data center sectorSeveral data center projects with potential capacities of hundreds of megawatts have been announced in Finland in recent months.Pure DC said in July it would invest 1.5 billion euros ($1.74 billion) to build a 110-megawatt campus in Finland, with the potential to scale beyond 550 megawatts. Arcem has plans for a site with up to 500 megawatts capacity. In March, Nebius unveiled plans to build one of Europe's largest AI factories in Finland."Finland is seeing huge demand for AI infrastructure right now, I've heard it called the 'Texas of Europe' at industry events," Matti Lajunen, partner of real estate at Finnish law firm Hannes Snellman, told CNBC. "What we're now seeing is weekly new inquiries for market entry into Finland from new players."Texas has become one of the leading locations for AI data centers globally, with a number of huge projects announced by hyperscalers and AI labs, including Meta, Microsoft and Anthropic. Google in November said it would invest $40 billion in Texas through 2027.A map showing data centers across the United States.CNBCAlongside Fortum, Google said it would "work to identify new business models to improve the commercial viability of potential new nuclear reactors" at its Loviisa site, a town in Southern Finland.Finland has also been an attractive location for digital infrastructure supporting social media workloads, with TikTok planning on expanding its data center capacity in the country."The value of the data economy extends far beyond direct investment into spurring innovation, research, and development," said Finland's Prime Minister Petteri Orpo. "Deepening our collaboration with Google will deliver lasting benefits for both parties." Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

"We have at this point ruled out cyber," the head of NATS said Wednesday, as airlines slammed the organization for a third major failure in three years. View More

In this articleRYAAYFollow your favorite stocksCREATE FREE ACCOUNT Delayed passengers wait and queue with their luggage at Terminal 3 of London Heathrow airport, west of London on September 8, 2026, following major disruption due an issue affecting the NATS air traffic control systems. Henry Nicholls | Afp | Getty ImagesThe head of U.K. air traffic control services has said he does not believe a cyber attack caused the software issue that disrupted hundreds of thousands of passengers with flight cancelations on Tuesday. "Obviously we will be doing a very thorough and full investigation. We have at this point ruled out cyber, we don't believe it was a cyber attack," Martin Rolfe told BBC Radio 4's Today program on Wednesday. "I don't believe we've ever seen an incident happen more than once, so this will be something different that we've never seen in 50 years of operation," he added. Flight tracking website Flightradar24 said 1,300 flights were canceled to and from U.K. airports on Tuesday, and that 177 flights had been canceled as of early Wednesday morning. Nearly all the cancelations were at London's Heathrow, one of Europe's busiest airports. London's Stansted and Gatwick airports, Birmingham and Manchester were also severely impacted.The technical issue was confirmed by National Air Traffic Services (NATS) shortly before 2 p.m. local time on Tuesday. While it was resolved by 7:30 p.m., severe travel disruption continued into Wednesday due to a backlog of flights, aircraft and crews being in the wrong place, and staff reaching the end of shift limits. Passengers due to fly Wednesday have been urged to check with their airline for updates. An arrivals board shows flight status at Gatwick Airport on September 08, 2026 in London, England. Getty Images | Getty Images News | Getty ImagesRolfe said NATS took responsibility for the impact on passengers, airlines and airports."We never do this lightly, we only do it when there is an issue that cannot be solved quickly and we have to take action to make sure that those who are flying, who are in the air at the time, are safe," he told the BBC."When we can restore these incredibly complex systems, we do so as quickly as we possibly can."NATS runs air traffic control services for 15 U.K. airports, handling around 2.5 million flights a year, and is responsible for managing the U.K.'s upper airspace used by commercial jets. Airlines directed sharp criticism at the organization and its leadership on Wednesday, noting that the latest incident followed two other major failures in recent years. A radar technical issue in July 2025 led to more than 150 cancellations, while widespread travel chaos lasted for days over a long weekend in August 2023 due to problems with NATS' flight plan processing sub-system. Neal McMahon, chief operating officer of Ireland's Ryanair, called it an "abhorrent" failure by NATS that had hit families traveling on holiday and people traveling for work."The astonishing part is that NATS continues to charge airlines and passengers more each year while delivering a worse service. Following the 2023 collapse, we were told lessons would be learned... Yet here we are again," McMahon said in a statement. A spokesperson for low-cost carrier Wizz Air told CNBC the airline was "extremely disappointed that another NATS technical failure has caused widespread disruption across the U.K. aviation network.""Passengers are once again facing delays and cancellations because of a failure entirely outside airlines' control," they said.Passengers flying from Heathrow have been hit by further disruption recently. Rail links to Britain's busiest airport were suspended at the weekend due to a fire, while the entire airport shut down for almost a whole day in March 2025 due to a power outage at a nearby electrical substation. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Kanohar Electricals IPO received robust demand on its second day of bidding. The issue was subscribed 10.22 times overall, indicating strong investor interest. A significant grey market premium of 35% further boosted market sentiment. The company plans to use IPO proceeds for capital expenditure and working capital. Analysts recommend subscribing for long-term investment based on growth prospects. View More

The Kanohar Electricals IPO witnessed strong demand on the second day of bidding, with the issue getting subscribed 10.22 times overall against the 1.16 crore shares on offer. The three-day issue has received a robust response so far. A grey market premium (GMP) of around 35% has further boosted market interest, keeping the IPO firmly on investors’ radar ahead of its stock market debut. The IPO was subscribed 2.70 times on Day 1, against the 1.16 crore shares on offer. Retail investors showed even stronger appetite, with the RII portion subscribed 3.30 times against the 58.46 lakh shares reserved for the category. Kanohar Electricals IPO is a book-built issue worth Rs 1,055.74 crore, comprising a fresh issue of 47.47 lakh shares worth Rs 300 crore and an offer for sale (OFS) of 1.20 crore shares amounting to Rs 755.74 crore. The IPO price band has been fixed at Rs 601–Rs 632 per share, while the lot size is 23 shares. At the upper end of the price band, retail investors will need to shell out a minimum of Rs 14,536 for one lot. Kanohar Electricals IPO opens for subscription on Sep 8, 2026 and closes on Sep 10, 2026. The allotment for the Kanohar Electricals IPO is expected to be finalized on Sep 11, 2026. Kanohar Electricals IPO will list on NSE and BSE with a tentative listing date fixed as Sep 16, 2026. Live Events Nuvama Wealth Management Limited and IIFL Capital Services Limited are the book-running lead managers for the issue, while MUFG Intime India Private Limited is acting as the registrar. Kanohar Electricals IPO Subscription Status Breaking down the category-wise subscription, Retail Individual Investors (RIIs) subscribed 8.49 times the 58.46 lakh shares reserved for them. The Non-Institutional Investors (NIIs) segment saw even stronger demand, with subscription reaching 19.22 times against the 25.05 lakh shares offered. Meanwhile, the Qualified Institutional Buyers (QIBs) portion was subscribed 6.50 times, against the 33.40 lakh shares reserved for the category. Kanohar Electricals IPO GMP Today The Kanohar Electricals IPO continues to command a strong premium in the grey market. The latest Grey Market Premium (GMP) stands at Rs 218 per share, translating to a premium of around 35% over the upper end of the IPO price band of Rs 632. At the current GMP, the estimated listing price is around Rs 850 per share, indicating a potential premium over the IPO's upper price band. GMP Note: The Grey Market Premium (GMP) is an unofficial indicator of investor sentiment and is not regulated or guaranteed by stock exchanges. GMP can fluctuate before the listing, and the actual listing price may differ significantly from the estimated price based on grey-market trends. IPO Objects of the Issue Kanohar Electricals plans to use the net proceeds from the IPO primarily to fund its capital expenditure requirements, with an estimated allocation of Rs 64.18 crore. The company also proposes to deploy Rs 155 crore towards incremental working capital requirements. The remaining proceeds will be utilised for general corporate purposes. Overall, the company plans to utilise approximately Rs 219.18 crore from the issue proceeds towards these objectives. Financial Performance Kanohar Electricals reported a 45% year-on-year increase in total income, rising from Rs 457.30 crore in FY25 to Rs 662.86 crore in FY26. The company also recorded strong growth in profitability during the period. Profit after tax (PAT) nearly doubled, climbing 99% from Rs 65.12 crore in FY25 to Rs 129.73 crore in FY26, highlighting a significant improvement in its bottom line. About Kanohar Electricals Ltd. Incorporated in 1972, Kanohar Electricals Limited is an Indian transformer manufacturer serving the power transmission, railways, renewable energy and power distribution sectors. The Company operates across two segments: transformer manufacturing and EPC services. It is one of only four Indian manufacturers certified by RDSO to manufacture 100 MVA, 132 kV Scott transformers. Kanohar operates two manufacturing facilities in Meerut, Uttar Pradesh, with a combined transformer manufacturing capacity of 19,200 MVA as of March 31, 2026. The Company also has five regional offices across India and a workforce of 526+ employees. Should you subscribe? According to AnandRathi research report, "The company offers exposure to the structural growth in India’s power transmission and distribution sector, supported by rising grid investments, renewable energy integration and increasing demand for high-voltage transformers. However, the high customer concentration, dependence on the Transformer Manufacturing Business and government/transmission utility orders warrant a measured outlook. At the upper price band, the company is valued at 38.6x FY26 P/E and 28.0x EV/EBITDA, implying a post-issue market capitalization of Rs 50,046 million. While the valuation is at a premium to Transformers & Rectifiers (India) Limited at 32.2x P/E and 20.8x EV/EBITDA, the premium is supported by Kanohar’s superior recent growth and profitability profile. Accordingly, we recommend a “Subscribe – Long Term” rating for the issue. SBI Securities said, “At the upper price band of Rs 632, the issue is valued at 38.6x FY26 post-issue P/E, which appears reasonable given its strong growth trajectory, niche certifications, robust order pipeline and favourable industry tailwinds. We recommend subscribing to the issue at the cut-off price.” Arihant Capital said, “At the upper price band of Rs 632 per share, the issue is valued at approximately 38.58x FY26 earnings, depending on the share-count methodology used. The premium valuation is supported by strong earnings growth, improving margins, high ROCE and a sizeable order book. However, investors should monitor customer concentration, government/PSU dependence, execution risk, commodity-price volatility and the sustainability of the recent margin expansion. We recommend subscribing for investors with a medium-to-long-term horizon.” (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)

The applications come after the Coal Ministry rejected reports last week that the scheme had failed to attract industry interest View More

The Centre's scheme received seven applications from Adani Enterprises, NTPC, Talcher Fertilisers, Gallantt Ispat and Shyam Sel & Power for projects in urea, syngas and synthetic gas View More