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A magnitude 5.2 earthquake struck off the Greek island of Euboea early Tuesday and was strongly felt in Athens, authorities said.The quake hit at 00:30 local time (2130 GMT) offshore 45 kilometres (28 miles) northeast of the Greek capital, said the Institute of Geodynamics at the National Observatory of Athens.The epicentre was four kilometres off the seaside resort of Nea Styra in the southwest of Euboea, Greece's second-biggest island, the institute said.There were no immediate reports of casualties or damage.The mayor of the nearby city of Marathon, Stergios Tsirkas, described the quake as "very intense", in comments on ERT television.In May, a strong earthquake of magnitude 6.1 struck off the Greek island of Crete and was felt as far as Egypt as well as in the Greek capital.In January and February, the island of Santorini in the Aegean Sea, a major Greek tourist destination, suffered exceptional seismic activity.Thousands of tremors there caused several thousand residents to flee, but they have since returned home.Situated on several faults in the southeastern Mediterranean, Greece is regularly hit by earthquakes.The last deadly quake there struck in October 2020 on the island of Samos, in the Aegean Sea.With a magnitude of seven, it killed two people in Samos and over 100 in the Turkish port city of Izmir.

Karbonsteel Engineering launched its Rs 59 crore IPO on Tuesday with the issue receiving early attention in the unlisted market. The shares are quoting a GMP of around 12% over the upper price band of Rs 159. The three-day book-building issue will close on September 11, and listing is scheduled for September 16 on the BSE SME platform. Ahead of the issue opening, the company raised Rs 17 crore from anchor investors, who subscribed to 10.6 lakh shares.IPO structure and price bandThe IPO comprises a fresh issue of 30 lakh shares aggregating to Rs 48.33 crore and an offer-for-sale (OFS) of 6.9 lakh shares worth Rs 10.97 crore, taking the total issue size to 37.29 lakh shares. The price band has been fixed between Rs 151 and Rs 159 per share.Investors can bid for a minimum lot of 1,600 shares, requiring an outlay of Rs 2.54 lakh at the upper end of the price band. For high-net-worth individuals, the minimum application size is three lots or 2,400 shares, amounting to Rs 3.81 lakh.Company profileKarbonsteel Engineering is engaged in designing, manufacturing, and supplying heavy and precision fabricated steel structures. The company caters to industries such as steel, railways, oil and gas, refineries, and infrastructure projects.Its offerings include heavy steel structures, pre-engineered buildings (PEBs), precision components, and bridge structures.Karbonsteel operates two manufacturing facilities in Gujarat and Maharashtra with a combined installed capacity of 32,400 metric tonnes annually.Financial performanceThe company has reported consistent growth in revenue and profitability. For FY25, it posted revenue of Rs 273.91 crore, up 25% from Rs 218.77 crore in FY24. Profit after tax jumped 50% year-on-year to Rs 14.16 crore, compared with Rs 9.42 crore in the previous fiscal.Objects of the issueThe company plans to utilise Rs 12.29 crore from the net proceeds for expansion of its Umbergaon facility, Rs 3.08 crore for repayment of borrowings, and Rs 25.25 crore towards working capital requirements. The rest will go towards general corporate purposes.With a GMP of about Rs 19 over the issue price, the stock is expected to list around Rs 178, indicating moderate listing gains if the sentiment sustains.Seren Capital is the book-running lead manager, and Maashitla Securities is the registrar to the issue. Rikhav Securities and SS Corporate Securities are acting as market makers.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Industries benefiting from recent Goods and Services Tax (GST) rate cuts have been in focus on Dalal Street. Amid an uncertain market outlook, several stocks in these sectors are expected to outperform. Here’s a compilation of leading brokers’ top stock picks across automobiles, consumer, insurance, and other segments that could deliver returns of 9% to 29% over the next six months.SBI SECURITIES Belrise Industries Target Price: Rs 165 CMP: Rs 142 | Upside: 15.5% Rationale Leading 2W metal components supplier with 24% market share and single-source presence. Growth driven by capacity expansion and H-One India acquisition. Rising demand expected post recent GST rate cuts.Subros Target Price: Rs 1,117 CMP: Rs 953 | Upside: 17.2% Rationale Leading AC systems supplier to Maruti Suzuki with 42% share in PV and 44% in CV segments. Strong positioning in India’s automotive AC components industry. Demand boost expected from small car segment revival post GST rationalisation. Mrs. Bectors Foods Specialities Target Price: Rs 1,632 CMP: Rs 1,406 | Upside: 16.1% Rationale GST cut on biscuits from 18% to 5% expected to revive volume growth. Festive season likely to boost overall consumption demand. Lower milk and cheese prices to support margins and QSR demand.MOTILAL OSWAL FINANCIAL SERVICESSwiggy Target Price: Rs 560 CMP: Rs 443 | Upside: 26.4% Rationale GST-led boost to disposable income to drive food delivery and quick-commerce growth. Easing competition and slower dark store expansion support Swiggy’s market position. Improved cost discipline and reduced discounting aiding Instamart profitability.Lemon Tree Hotels Target Price: Rs 200 CMP: Rs 178 | Upside: 12.4% Rationale GST cut on rooms below Rs 7,500 from 12% to 5% to boost occupancy. Added 413 rooms across six new properties, aligning with expansion strategy. Strong 1QFY26 performance expected to continue in FY26.Amber Enterprise Target Price: Rs 9,000 CMP: Rs 7,488 | Upside: 20.2% Rationale GST cut on air conditioner products from 28% to 18% to drive demand and boost volumes. ILJIN Electronics, its subsidiary, secures `1,200 crore funding to scale operations and pursue acquisitions. Expansion into Battery Energy Storage System, EV chargers, UPS, solar inverters, and automation.ICICI SECURITIESExide Industries Target price: Rs 480 CMP: Rs 426 | Upside: 12.6% Rationale GST slab cut on auto parts from 28% to 18% to boost demand. Expected pickup in new vehicle sales post GST rate cut. Market leadership positions of Exide to benefit from rising volumes. Arvind Fashion Target Price: Rs 705 CMP: Rs 548 | Upside 28.6% Rationale 5% GST threshold increases on readymade garments to Rs 2,500 per piece from Rs 1,000 earlier to boost apparel demand. Personal tax cuts and easing inflation to drive festive season consumption. Expected to deliver stronger H2FY26 performance with improved profitability.JK Lakshmi Cements Target Price: Rs 1,100 CMP: Rs 925 Upside 18.9% Rationale GST cut on cement from 28% to 18% expected to boost demand. JK Lakshmi Cement’s presence across north, west, and east positions it well to benefit. Operational performance to improve driven by expansion, efficiencies, and positive leverageHDFC SECURITIESMarico Target Price: Rs 857 CMP: Rs 730 | Upside: 17.4% Rationale Lower GST of 5% on essentials like biscuits, hair oil, soaps, and shampoos to boost demand. Improved consumer affordability expected to drive volume-led growth. Price cuts and grammage increases likely to support mass and mid-segment consumption.SBI Life Target Price: Rs 2,100 CMP: Rs 1,783 | Upside: 17.7% Rationale GST cut on life insurance premiums to improve affordability and drive higher penetration. Poised to benefit from strong distribution via parent and lowest cost ratio. Sustained RoEV of 18-20% supports long-term growth prospects.Sansera Engineering Target Price: Rs 1,625 CMP: Rs 1,398 | Upside: 16.2% RationaleLower GST on vehicles and components to boost auto sector demand and volume recovery. Increased OEM demand and improved replacement market dynamics to drive order inflows.Stronger industry volumes to enhance company’s competitiveness in domestic and export marketsANAND RATHI SHARES AND STOCK BROKERSBajaj Finance Target Price: Rs 1,045 CMP: Rs 946 | Upside: 10.5% Rationale GST cuts to significantly boost demand in consumer durables. Lower prices and reduced EMI obligations expected to drive higher consumption. Strong exposure to durables, vehicles, and insurance to fuel faster loan growth.Dixon Technologies Target Price: Rs 20,000 CMP: Rs 18,020 | Upside: 11% Rationale GST cut on key consumer electronics from 28% to 18% to boost affordability and festive demand. Aligns with its strategy of expanding into component manufacturing under government incentives. Expected to drive higher production volumes and strengthen Dixon’s growth momentum.Chalet Hotels Target Price: Rs 1,120 CMP: Rs 1,028 | Upside: 8.9% Rationale GST on hotel rooms up to Rs 7,500 cut from 12% (with ITC) to 5% (without ITC) seen boosting affordability. Budget and mid-scale segments expected to see higher occupancy and revenues. Company likely to benefit as a significant portion of its inventory falls within this bracket.

Mumbai: The rally in shares of automobile makers gathered steam on Monday, fuelled by expectations that the vehicle price cuts following the reduction in Goods and Services Tax (GST) last week would boost demand.Tata Motors and Mahindra & Mahindra gained nearly 4%, emerging as the top Sensex gainers on Monday. Maruti Suzuki rose 2.4%.The Nifty Auto index surged 3.3% on Monday, taking its upside rally to 5.5% since the GST rationalisation decision on September 3. The benchmark Nifty 50 ended 0.1% higher on Monday. The benchmark Nifty 50 ended 0.1% higher on Monday.Analysts said the momentum is in favour of these shares, but warn against abrupt profit sales interrupting the run-up.123775814"Auto sector momentum remains strong, supported by recent price cuts in passenger vehicles and the earlier-than-expected GST implementation on September 22," said Sagar Shetty, research analyst, StoxBox. "While this has driven gains in auto stocks and the index, some profit booking in the near term is likely given the recent rally."Shares of component manufacturer Bharat Forge were the top gainers of the day, up 5.8%, followed by Ashok Leyland, Samvardhana Motherson and Bajaj Auto, which moved up 4-5% each.Mahindra & Mahindra, Hyundai India and Tata Motors have already slashed prices of their vehicles by nearly ₹1-2 lakh, passing on the benefits of the reduction of GST from 28% to 18% to potential customers. With the domestic festive season round the corner, investors are betting that lower prices could drive demand."We shall likely see an uptick in sales from the December quarter onwards, which should ideally last for the next six to eight quarters," said Sham Chandak, head of institutional equities at Elios Financial Services. "The focus for most OEMs (Original Equipment Manufacturer) will now turn from 'premiumisation' to 'penetration', and we expect an uptick in smaller car category sales."Chandak said he expects double-digit growth across segments like small cars, midsize SUVs and two-wheelers.In the past week, Mahindra & Mahindra shares have been the top gainer, up 11.6%, followed by Eicher Motors, Ashok Leyland, TVS Motor and Bharat Forge, which are up 6-8%.The Nifty Auto index is up 6% while the Nifty 50 has gained 0.6%."August sales have improved, especially in two-wheelers and commercial vehicles, with growth expected to remain in the low to mid-teens. However, inventory build-up in passenger vehicles may weigh on future wholesale demand," said Shetty.

The Food Safety and Standards Authority of India (FSSAI) is working on overhauling the regulations for organic food in the country, a senior official said, adding that the authority has formed a committee for this."As India is revising its regulations and guidelines for organic farming, there is a need to revise regulations for organic food certification too," said the official. The new standards are expected to cover organic agricultural products and align with the latest guidelines in advanced nations.The authority has not yet set any timeline for the formulation of regulations, said the official.The National Programme for Organic Production (NPOP) 2014, which covers the production and accreditation of organic labels, is being updated to reflect changes in the international organic landscape and global organic markets.The NPOP is recognised under the Food Safety and Standards (Organic Foods) Regulations, 2017, issued by FSSAI. It functions alongside the participatory guarantee system, overseen by the ministry of agriculture and farmers' welfare.The programme lays down rules for organic farming, sets out requirements and procedures for accreditation and certification agencies, and regulates the use of the India Organic label. Its framework is designed to be in line with global regulations governing the trade of organic products.Internationally, NPOP's crop production standards are acknowledged as equivalent by the European Commission, Switzerland and Great Britain.India has emerged as a prominent supplier of organic products in a span of two decades.