ET NEWS

The Israel Defense Forces (IDF) on Thursday (local time) announced that a senior commander in Hezbollah's anti-tank array, Hassan Mohammad Bashir, has been "eliminated" in operations targeting militant infrastructure in the region. In a post on X, the IDF stated that Bashir was reportedly involved in orchestrating numerous attacks against Israeli forces and civilians and noted that he had recently begun working closely with Hezbollah's anti-tank units north of the LitRiver, a strategic area in southern Lebanon. "ELIMINATED: Hassan Mohammad Bashir, a senior commander in Hezbollah's anti-tank array in the Hajir area. Bashir advanced hundreds of terror attacks against IDF troops and Israeli civilians. He commanded several terrorist cells & recently, he had begun integrating into the anti-tank array north of the Litani River," the IDF stated in the post. Earlier in the day, the IDF confirmed the elimination of the top command of Iran's Islamic Revolutionary Guard Corps (IRGC) Navy, including its commander and the head of its intelligence division. In a post on X, the IDF confirmed that the Israeli Air Force, under precise intelligence guidance from Military Intelligence and the Navy's Intelligence Branch, struck overnight in Bandar Abbas and eliminated Ali Reza Tangsiri, commander of the Revolutionary Guards' Navy over the past eight years. The IDF stated that Tangsiri held key roles, "including overseeing the regime's maritime terror activities and coordinating between Iranian military forces in the Gulf region". Tangsiri also "led the closure of the Strait of Hormuz and promoted terror actions in the maritime domain, one of the main figures responsible for disrupting the global economy." Along with Tangsiri, the IDF confirmed the elimination of Hanam Rezaei, the head of the Navy's Intelligence Division. Rezaei was described as a "hub of knowledge in maritime intelligence" who engaged in intelligence gathering on regional countries and led collaborations with various intelligence organisations. According to the IDF, this operation joins dozens of eliminations of Iranian commanders, constituting "another severe blow to the Revolutionary Guards' command and control systems and to its ability to conduct terror activities in the maritime domain against regional countries." Meanwhile, the IDF overran 350 Hezbollah terror infrastructure sites, and more than 330 terrorists were eliminated during the operations earlier on Thursday. In addition, weapons and military equipment were located, including night vision devices, missile launchers, RPG rockets, magazines, Kalashnikov rifles, and a machine gun. The IDF emphasised that these operations are part of a broader campaign to secure Israel's northern border and prevent attacks by militant groups operating from southern Lebanon.

ET Intelligence Group: A handful of BSE 500 companies have shown strong earnings momentum amid a volatile macroeconomic environment, shows an ETIG analysis. There are 18 companies in the sample that have exceeded their respective FY25 revenue, operating profit before depreciation and amortisation (EBITDA) and net profit in the first nine months of the current fiscal year. These companies have also shown an improvement in EBITDA margins over FY25 levels. The performance on these four key parameters was considered to weed out companies that might have benefited from one-off, non-operating items such as exceptional income, tax adjustments and others.The list is dominated by six finance and four capital goods companies, aided by an uptick in credit demand and the government's thrust on infrastructure development. Other sectors that have representation include chemicals, fast moving consumer goods, auto ancillaries and metals. The list includes companies such as GE Vernova T&D, Waaree Energies, Muthoot Finance, Acme Solar, Gillette India, Navin Fluorine, Kalyan Jewellers, Tata Investment Corporation, Multi Commodity Exchange of India, Bajaj Holdings and Investment and Aether Industries.129836478In addition, seven companies have reported a more than two-fold jump in net profit when compared with the corresponding nine-month period of the previous year. This subgroup includes Waaree Energies, Craftsman Automation, GE Vernova, Capri Global, HBL Engineering, Navin Fluorine and Acme Solar.Despite their impressive financial performance, market conditions have affected their stock returns in the current calendar year. Of the 18 companies, only six, or one-third, have yielded stock returns. These include Waaree Energies (7% return), GE Vernova (20%), Navin Fluorine (5%), Acme Solar (7%), MCX (11%), and Aether Industries (35%), which is also the top gainer on the list. Paradeep Phosphate was the biggest loser, falling 32% year-to-date, affected by concerns over rising input costs.

Mumbai: Lenders are witnessing higher utilisation of working capital limits by MSMEs and other industries as input cost pressures rise due to the ongoing US-Israel conflict. Bankers told ET as cash flows slow across the economy, MSMEs are increasingly relying on working capital to manage operations. "As input costs rise, margins come under pressure, which can lead to higher working capital utilisation as cash flows get stretched," said Prashanth TS, head - mid corporate group, Axis Bank. "MSMEs typically operate at utilisation levels of 70-75%, and in periods of heightened volatility, these levels tend to move higher." He added that, from a banking standpoint, this is not a solvency challenge but an input-cost inflation issue for MSMEs. For lenders, the leadership focus is on anticipating these pressures early and ensuring adequate, well-calibrated liquidity support without compromising credit discipline. Sectors such as hospitality, ceramics, chemicals, steel and fertilisers are expected to see higher drawdowns of existing limits, as well as fresh working capital sanctions, as firms navigate rising costs and tighter liquidity conditions. "Different pockets will have different impacts. In general, when cash flow movement in the economy slows down, working capital will go up," the MSME head of another leading private sector bank said. "Because faster the cash flow cycles move, lower is the utilisation because you churn your money." For domestic basmati rice exporters, Iran is the third-largest destination, accounting for about 13% of total exports in fiscal 2025. According to Crisil Ratings, rising prices of raw materials and imported fertilisers are likely to increase working capital requirements for industry players, while also raising the government's subsidy bill by an estimated ₹20,000-25,000 crore. "We anticipate an increase in working capital loans, worsening corporate credit metrics, worsening metrics for SMEs and households and an increase in credit costs," CreditSights - a Fitch Group company, said in a report. According to Crisil Ratings, sectors such as oil refining, aviation and crude-linked industries - including specialty chemicals, paints, petrochemicals and synthetic textiles - may be affected by rising crude oil prices. Additionally, companies involved in basmati rice, fruits and nuts trade may see heightened impact. "The extent of the impact will depend on each sector's ability to pass on the incremental costs," the rating agency said in a report.