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Shares of Raymond Lifestyle came under pressure on Friday, September 26, sliding 4.2% to a low of Rs 1,200.55 on the BSE after the company disclosed that officials from the Income Tax Department had conducted a survey action at some of its offices and manufacturing units in India.In a regulatory filing, the company stated, “We hereby inform that yesterday certain officials of the Income Tax Department visited some of the Company’s offices and manufacturing units in India for conducting a survey action under Section 133A of the Income Tax Act, 1961. The proceedings are underway and the Company is extending its full co-operation to the officials.”The announcement weighed on investor sentiment, triggering a sell-off in the stock. Market participants said that tax survey actions often create uncertainty around potential financial or compliance implications, prompting near-term caution from traders and investors.Raymond Lifestyle share price performanceOver the past year, the shares of Raymond Lifestyle have witnessed a steep decline, falling 49.62%, signalling a challenging period for investors. On a year-to-date basis, the stock remains deep in the red, down 41.59%, underscoring continued selling pressure through 2025.However, the picture improves slightly in the shorter term — over the last six months, the stock has managed to gain 16.85%, hinting at a partial recovery from its earlier lows. The last three months and one month have both seen a 4.61% rise, suggesting that recent momentum has been slightly positive despite the overall longer-term weakness.Around 2:40 pm, the stock was still trading 3.65% lower at Rs 1,207.60 on the BSE.Also read: Nazara Technologies stock price down 75%? Here’s what’s really happening(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Shares of CarTrade Tech jumped nearly 8% to Rs 2,648.25 on Friday, riding a year-long rally that has seen the stock rally 146%. Investor enthusiasm was fueled by Elara Capital initiating coverage with a 'buy' rating and a Rs 3,590 target, signaling roughly 36% upside, alongside last week’s purchase of 3.9 lakh shares by Norway’s sovereign wealth fund in a Rs 98 crore deal.Elara Capital described CarTrade as a “multi-platform auto and classifieds marketplace, offering discovery, remarketing and value-added services.” Its consumer portals, CarWale and BikeWale, “anchor discovery, driving qualified leads,” monetised through pro-seller and dealer memberships, advertising, and services including finance, insurance, and logistics.The brokerage highlighted the OLX India acquisition, noting it “deepened its leadership in auto classifieds, adding India’s largest C2C audience and listings density, to drive lead generation and strengthen pricing power.” The deal also “opened up scaled non-auto categories (electronics, real estate), broadening monetisation without a step-up in customer acquisition cost (CAC).”Elara forecasts CarTrade’s revenue, EBITDA, and PAT to grow at CAGRs of 25%, 37%, and 25% respectively through FY28E, reaching Rs 12.6bn, Rs 3.8bn, and Rs 2.8bn. The brokerage expects OLX India’s gross merchandise value to rise nearly 12% annually, driven by market-share gains in used cars and overall goods, while EBITDA margins are projected to expand to 30.6% from 23.5% in FY25.“CARTRADE is a net cash company, reflecting category leadership, low-CAC economics, and a clear monetisation runway,” the brokerage said.Strong market momentumTechnically, CarTrade is trading above six of its eight key simple moving averages (SMA), including the 10-day, 30-day, 50-day, 100-day, 150-day, and 200-day SMAs, while remaining below its 5-day and 20-day SMAs. The Relative Strength Index (RSI) stands at 52.8, signaling neither overbought nor oversold conditions, while the MACD is at 35.8, above its center line but below the signal line.Last week, Norway’s sovereign wealth fund bought 3.9 lakh shares in a deal worth Rs 98 crore. CarTrade, listed in August 2021, has a market capitalization of Rs 11,895 crore on the NSE.Cash-rich, debt-free and expansion-readyElara highlighted CarTrade’s strong balance sheet, with Rs 7.5 billion in net cash. The brokerage expects the company to generate Rs 2.1 billion in cumulative free cashflow through FY25-28, funding investments in technology, EV adjacencies, and expansion while preserving capital efficiency.Scale optionality from classifieds is another key factor. According to Elara, the OLX India acquisition “adds horizontal optionality in real estate and electronics alongside autos,” allowing monetisation to scale via paid visibility, pro-seller subscriptions, and verified sellers, “without step-ups in capex or CAC.”The brokerage identified key risks as slower monetisation at OLX, integration challenges, and cyclicality in auction volumes.Also read | Ola Electric vs Ather Energy shares: Which EV bet looks stronger for your portfolio right now?(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

At least 33 of the demonstrators killed during anti-corruption protests in Nepal this month were struck by "live bullets" fired from "high-velocity firearms," the medical institute that conducted the postmortem examinations told Reuters. The findings were described to Reuters by a member of the forensic medicine department of the Tribhuvan University Institute of Medicine, who spoke on condition of anonymity to discuss sensitive matters. An institute spokesperson subsequently verified the account, marking the first official confirmation that live ammunition was used during the unrest, in which 74 people were killed and over two thousand injured. Unverified images of non-rubber ammunition and protesters with head and chest wounds had circulated on social media in the aftermath of the Gen-Z-led demonstrations against a system in which the politically connected would flaunt luxury goods and holidays on social media. The protests ultimately led to the resignation of the septuagenarian Prime Minister K.P. Sharma Oli and his government. A key protest leader had previously demanded the arrests of Oli and his home minister, Ramesh Lekhak, for allegedly giving orders to use live ammunition on the demonstrators. He did not provide evidence. Oli had said in a Sept. 20 Facebook post that his government had not ordered security forces to fire at protesters. Aides for the former prime minister and Lekhak - who said he accepted "moral responsibility" for the violence when he resigned on Sept. 8 - did not return phone calls.Also read: Nepal's deadly protests hammer tourism sector as arrivals fall 30% Muktiram Rijal, a spokesperson for Kathmandu District Office - which administratively supports law enforcement but does not have command over the police - told Reuters on Thursday that he had no knowledge about the use of live ammunition. He had previously told Reuters that the police were permitted to use rubber bullets, water cannons and batons for crowd control. A spokesperson for Nepal Police, which was in charge of managing the protests when the violence peaked on Sept. 8 and 9, said that it was not able to comment until an investigation by a committee convened by the newly appointed interim government had concluded. The autopsies were conducted at the institute's Kathmandu-based Maharajgunj Medical Campus, which received 47 bodies from hospitals across the capital after the protests. The member of the forensic medicine department said that of the 34 bodies with bullet wounds that had been examined, ten had been struck in the head, 18 in the chest, four in the stomach and two in the neck. Only one person had been hit by a rubber bullet. The department could not determine the calibre of the bullets or the specific type of firearm used to fire the fatal ammunition. "In all cases the bullets were distorted and fragmented," the person said.Also read: The Internet Still Bites Back: The role played by Discord in the Nepal uprising High-velocity weapons can typically fire projectiles at over 600 meters per second. Law enforcement in Nepal has access to such arms, though they don't usually use them for crowd control, said Subash Acharya, a former legal consultant to the police. Nepali citizens normally have to prove that their life is under threat to get a gun license, so it is difficult to legally obtain a firearm, said Acharya. Oli had suggested in his Sept. 20 post that infiltrators had been involved in the protests and urged an investigation "into the incidents in which shots were fired from automatic weapons that are not in police possession." He did not state how he knew that shots were fired from automatic weapons. Gun violence in the South Asian country is "extremely rare," said Nepal Police Hospital orthopaedic surgeon Alok Singh. "In my eight years of practice, I have never attended to a single civilian bullet injury case," he said INVESTIGATION UNDERWAY The September protests began as a peaceful march but soon spiralled out of control. Some of the demonstrators set fire to government offices, hotels and the homes of politicians, while police in the capital said they had fired tear gas and rubber bullets at protesters trying to storm parliament. The United Nations Human Rights Office has called for a "prompt and transparent investigation" into "allegations of unnecessary or disproportionate use of force by security forces during protests organized by youth groups." "All security forces must comply with the basic principles on the use of force and firearms by law enforcement officials," a U.N. spokesperson said on Sept. 8. The interim government led by 73-year old former chief justice Sushila Karki has set up a panel to investigate the violence. Karki, who is Nepal's first female head of government, has said she will fix past governmental failures and tackle corruption, while also helping to create jobs and raise living standards. Elections have been announced for March 5, but experts have said she could have to extend her tenure given the sizeable challenges.