Business
Margin of cement companies to remain under pressure in Q1FY23: Centrum Broking

Cement companies are expected to witness lower volume sequentially in Q1FY23 as the demand had slowed down in May ahead of monsoon, said brokerage house Centrum Broking.
Coal prices are expected to be at elevated levels and will increase further in Q1FY23. Coal is used as a fuel in cement plants.
The cement companies increased prices during April 2022 but it was not sufficient to cover the increase in coal or pet coke prices, it said.
“The inability to pass-on cost fully to customers remains the primary concern. We expect cement margins to decrease on a quarter on quarter basis due to lower volume, higher coal prices which should more than offset an increase in cement prices,” it said in a report.
However, the sustaining price hike needs to be monitored as demand is slowing down in key markets.
In cement space, ACC, Ambuja Cements, and UltraTech Cement, are some of the preferred picks, said the report.
International
Delegation meets EU representatives in Belgium, conveys India’s firm resolve against terrorism

Brussels, June 5: The All-Party Parliamentary Delegation from India, led by senior BJP MP Ravi Shankar Prasad, held a series of high-level engagements in Belgium with Members of the European Parliament (MEPs), emphasising India’s resolute stance against cross-border terrorism.
The delegation visited the European Parliament and met with MEPs from the Delegation for Relations with India, the Committee on Foreign Affairs (AFET), and the Committee on Security and Defence (SEDE).
During the meetings, the Indian team provided a detailed briefing on the persistent issue of cross-border terrorism targeting India, particularly highlighting the April 22 terror attack in Pahalgam and India’s measured and strategic response through Operation Sindoor.
The discussions at the Parliament also revolved around strengthening India-EU strategic cooperation in counter-terrorism efforts, while broader themes such as high-level diplomatic engagements and deeper parliamentary exchanges were also addressed.
According to the Indian Embassy, “Taking India’s strong message against terrorism to the world, members of All-Party Delegation met with Members of European Parliament (MEPs) and discussed combating terrorism, including cross-border terrorism, global peace, and deepening of India-EU ties.”
The European Union unequivocally condemned the brutal attack in Pahalgam and expressed solidarity with India.
“The EU side was briefed about the heinous Pahalgam terrorist attack and the calibrated and targeted response of India through Operation Sindoor, giving the message of zero tolerance to terrorism. MEPs expressed their solidarity with victims of the Pahalgam terrorist attack,” the embassy added.
The Indian delegation also engaged with some of Brussels’ prominent think tanks and strategic experts, exchanging views on the global terror landscape and New Delhi’s expectations from the EU in tackling such threats.
These discussions further reinforced shared views on the necessity of a coordinated global response to terrorism.
“During our visit to Brussels, my colleagues from the all-party delegation and I engaged in a comprehensive discussion on the scourge of terrorism, particularly cross-border terrorism targeting India. We deliberated on India’s counter-terrorism initiatives, notably including Operation Sindoor, with prominent think tanks in the region. Our interaction underscored a unified and unambiguous stance of zero tolerance towards terrorism,” Ravi Shankar Prasad said in a post on X.
The nine-member delegation includes a diverse political representation: Ravi Shankar Prasad (BJP), Daggubati Purandeswari (BJP), Priyanka Chaturvedi (Shiv Sena-UBT), Gulam Ali Khatana (BJP), Amar Singh (Congress), Samik Bhattacharya (BJP), M. Thambidurai (AIADMK), former Union Minister M.J. Akbar, and former Ambassador Pankaj Saran.
Furthermore, the delegates interacted with members of the Indian diaspora who expressed their deep solidarity with the victims of recent terrorist attacks and backed India’s strong and principled stance against terrorism and its zero-tolerance policy.
The Indian parliamentarians underscored the vital role of the diaspora in amplifying India’s voice on the global stage.
On Wednesday, the delegation commenced its programme by paying floral tribute at the statue of Mahatma Gandhi at the Embassy — a solemn reaffirmation of India’s enduring commitment to the principles of peace, non-violence, and universal brotherhood.
After concluding visits to France, Italy, Denmark, and the UK, the Indian delegation is in Belgium as a part of India’s global diplomatic outreach campaign to highlight the significance of Operation Sindoor and the continued fight against Pakistan-sponsored cross-border terrorism.
National
Multi-layered security in place ahead of PM Modi’s Friday visit to J&K

Jammu, June 5: Unprecedented security has been put in place ahead of Prime Minister Narendra Modi’s visit to Jammu and Kashmir on Friday to flag off the Vande Bharat train to the Valley.
A multi-layered security drawn from the special protection group (SPG), army, CAPFs and J&K Police manned by hundreds of personnel will protect the historic visit of the PM.
There is extraordinary vigil around PM Modi’s Friday visit as this is his first visit after Operation Sindoor to J&K.
The ubiquitous presence of security forces is seen in Jammu city, Reasi district, with a focus on the rail track from Katra town right up to Baramulla town in Kashmir.
All vantage points along the mountainous track have been taken over by the army and other security forces, while the rail track is dotted with CAPFs equipped with electronic equipment, drones, sniffer dogs and night vision devices.
“No chances whatsoever are being taken to secure the Prime Minister’s visit tomorrow. You name it, and that aspect of the security has been taken care of. The PM’s historic visit to redefine history in J&K is completely secured and safe for the large number of people expected to witness the event,” said a senior officer deployed to supervise the security around the PM’s visit.
In addition to inaugurating the Vande Bharat train service, Prime Minister Narendra Modi will lay the foundation stone, inaugurate and dedicate to the nation multiple development projects worth over Rs 46,000 crore.
On Friday, PM Modi will flag off two Vande Bharat Express trains from Mata Vaishno Devi base camp, Katra, to Srinagar and back from Katra Railway Station.
Railway officials said the trains will offer a swift, comfortable, and reliable travel option for residents, tourists, and pilgrims, among others.
The PM will lay the foundation stone and inaugurate various road projects to ensure last-mile connectivity, especially in the border areas of Jammu and Kashmir.
The foundation stone laying ceremony and inauguration of projects will be done virtually from Katra.
The foundation stone laying includes projects like the road widening project from Rafiabad to Kupwara on National Highway and the construction of the Shopian bypass road worth over Rs 1,952 crore.
Two flyover projects at Sangrama Junction on National Highway-1 in Srinagar and at Bemina Junction on National Highway to ease traffic congestion and enhance traffic flow for the commuters are included in the foundation laying programme.
The Prime Minister will lay the foundation stone of the Shri Mata Vaishno Devi Institute of Medical Excellence in Katra, worth over Rs 350 crore. It will be the first Medical College in the Reasi district.
Included in the inauguration programme, the Prime Minister will inaugurate the Chenab bridge, visit the bridge deck at around 11 a.m. Friday and then inaugurate the Anji bridge, the first cable-stayed railway bridge in the country.
Around noon, the PM will flag off Vande Bharat Trains from Katra Railway Station.
Vande Bharat train will take just about three hours to travel between Katra and Srinagar, reducing existing travel time by 2-3 hours.
The PM will also dedicate the Udhampur-Srinagar-Baramulla Rail Link (USBRL) project to the nation. The 272-km-long USBRL project, constructed at a cost of around Rs 43,780 crore, includes 36 tunnels (spanning 119 km) and 943 bridges.
The project establishes all-weather, seamless rail connectivity between the Kashmir valley and the rest of the country, aiming to transform regional mobility and drive socio-economic integration.
An unfulfilled dream of over 70 years will unfold into reality on Friday as PM Modi re-writes yet another chapter in the country’s march to become the World’s third-largest economy, driven by performance, unrelenting commitment and single-minded pursuit of a visionary leader who knows to lead both in war and peace.
Business
India red-flags $800 million ADB aid package to Pakistan

New Delhi, June 4: India has expressed deep concerns over the potential misuse of the $800 million ADB aid package to Pakistan as the country is increasing its defence expenditure, despite the poor fiscal position, with the army exercising de facto control over the government in Islamabad.
The army top brass now leads the Special Investment Facilitation Council, which gives it more control over the economic policy. India has warned that this entrenched military role poses serious risks of policy reversal and poor reform implementation, according to reliable sources.
Pakistan’s tax-GDP ratio has been declining, with the country going through an economic crisis. The foreign exchange reserves have hit rock bottom, and inflation has soared to double-digit figures. However, despite the dire economic situation, the military-driven government has gone for increasing expenditure on defence.
India has also pointed out that Pakistan has a very poor track record in implementing the economic reforms that are mandatory with these aid packages from multilateral institutions.
India’s concern is that these funds can be diverted for defence expenditure. The fighter jets purchased from China and the large number of drones used by Pakistan in the wake of Operation Sindoor reflect the increased spending on military hardware, an official said.
It pointed out that Pakistan recently approached the International Monetary Fund (IMF) for the 24th bailout, indicating policy ineffectiveness. This further shows that the previous ADB and IMF-supported programmes have failed to create sustainable macroeconomic stability.
India has also highlighted that Pakistan’s policy of promoting cross-border terrorism has led to a worsening of the security situation in the region.
It has further pointed out that Islamabad’s track record on implementation of the FATF action points related to terrorist financing investigations and prosecution of leaders of UN-designated terrorist groups and freezing and confiscation of criminal assets is also highly unsatisfactory.
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