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A Ukrainian drone operation destroyed over 40 Russian aircraft on June 1, marking the farthest attack deep 4,000 km inside Russian territory since the war began in February 2022. The strike occurred a day before peace talks between the two countries were scheduled in Istanbul. Ukrainian President Volodymyr Zelenskyy said in a video statement that “Operation Spiderweb” was planned for 18 months and involved 117 drones targeting only military sites. Ukraine targets Russian airbases with dronesAccording to Ukraine, the attack was executed using FPV drones that were smuggled into Russia in advance. These drones were placed inside mobile wooden structures, hidden under rooftops, and launched remotely. The Russian Defence Ministry confirmed attacks on five locations, including one over 4,000 km from the Ukrainian border.Also Read: Operation Spiderweb shows how small $400 drones deliver big blows to Russia's $7 billion fighter jetsWhat are FPV drones?FPV stands for First Person View. These drones transmit live footage to the operator through a camera mounted on the drone. The feed can be viewed using goggles, smartphones, or other devices. FPV drones are often used in various industries, including media, but are also increasingly being used in military operations.According to the European Union Aviation Safety Agency, one major concern with FPV drones is reduced situational awareness for the operator, which can cause disorientation. A visual observer is sometimes required to support navigation. These drones usually have a shorter range compared to surveillance drones and are guided to targets after a reconnaissance drone surveys the area.Why FPV drones are used in battleOne of the key advantages of FPV drones is cost. A Reuters report estimated the cost of an FPV drone with a payload at around $500. This makes them cost-effective alternatives to conventional weapons. The report noted, “The tiny, inexpensive FPV (first-person view) drone has proved to be one of the most potent weapons in this war, where conventional warplanes are relatively rare because of a dense concentration of anti-aircraft systems near front lines.”FPV drones are harder to detect and can conduct deep strikes. This makes them useful for attrition-based strategies. Both Ukraine and Russia have been increasing domestic production of drones to support their military needs.Also Read: Russian missiles, Western worries: India’s arms map is changingUkraine's FPV StrategyUkraine has used FPV drones since early in the war. Forbes reported that Vyriy Drone handed over 1,000 “all-Ukrainian” FPV drones in March 2025. Ukraine aims to produce over four million drones this year. However, there are concerns over component dependency, especially for parts sourced from China. A report by the Center for Strategic & International Studies last year stated that China dominates the global drone market and is a key supplier of essential components like lithium-ion batteries.India's Preparations: Indian Army inducts FPV drones into its armyThe Indian Army has successfully developed and tested its first First-Person View (FPV) drone equipped with an impact-based, kamikaze-role anti-tank munition. This project, initiated in August 2024, was a collaboration between the Army's Fleur-De-Lis Brigade and the Terminal Ballistics Research Laboratory (TBRL) in Chandigarh. The drone features a dual-safety mechanism and live feedback relay system, ensuring precision and safety during operations. Five drones, each costing Rs 1.4 lakh, were inducted initially, and 95 more will be added later. The drones were fully assembled at the Rising Star Drone Battle School, which has produced over 100 drones as of March 2025.India's Advanced Counter-Drone SystemsTo address the evolving drone threats, India is investing in advanced counter-drone technologies:Bhargavastra Micro-Missile System: Developed by Solar Defence and Aerospace Limited, this multi-layered anti-drone system employs lightweight guided and unguided micro-missiles to neutralize loitering munitions and autonomous swarm drones. It boasts a detection range of 6–10 km and an interception range of up to 2.5 km Akashteer Air Defence System: An indigenous automated air defense control and reporting system developed by Bharat Electronics Limited. Akashteer enhances the Army's capability to monitor low-level airspace and efficiently control ground-based air defense weapons. It has been instrumental in neutralizing drone threats during recent conflicts .en.wikipedia.orgIndrajaal Autonomous Drone Defence Dome: Developed by Grene Robotics, Indrajaal is an AI-powered counter-drone system capable of detecting and neutralizing various drone threats, including silent and nocturnal drones. It operates effectively in challenging terrains, ensuring comprehensive aerial security.Also Read: The Ukrainian truck trick: How Kyiv smuggled drones 6,000 km into Russia to strike bases housing nuclear-capable aircraftOperational Preparedness and DrillsIndia has conducted mock drills simulating aerial and drone attacks across several regions, including Rajasthan. These exercises involved civil defense and State Disaster Response Force teams practicing emergency response scenarios, such as evacuations and blackout protocols, to enhance preparedness against potential drone-based threats .Strategic ImplicationsThe recent drone attacks deep inside Russian territory have highlighted the need for robust drone and counter-drone capabilities. India's proactive measures in developing indigenous FPV drones and advanced counter-drone systems reflect a strategic shift to address modern warfare challenges. By investing in these technologies and conducting regular preparedness drills, India aims to fortify its defense infrastructure against potential asymmetric threats.

Shares of Go Fashion climbed as much as 5.1% on Tuesday to Rs 904.50 on the BSE after brokerage Motilal Oswal initiated coverage on the stock with a 'buy' rating and a target price of Rs 1,127, citing the company’s category leadership in women’s bottom-wear and a scalable, brand-led retail model.The target price of Rs 1,127 indicates an upside potential of 31% from current levels.Motilal Oswal described Go Fashion, which operates under the ‘Go Colors’ brand, as “a pioneer and category leader in the women’s bottom wear market, holding an 8% share of the organized market.” The brokerage added that the company has “successfully established a direct-to-consumer (D2C) brand, offering a wide range of products through 776 exclusive brand outlets (EBOs) across 180 cities.”The brokerage highlighted that “bottom wear addresses functional, repeat-use needs and is less susceptible to fashion cycles compared to top wear,” enabling steady demand and operational stability. The segment, valued at Rs 135 billion in 2020, is the fastest-growing sub-category in the apparel market, with about 12% CAGR and relatively low organized retail penetration, estimated at about 38% by 2025.According to the brokerage, “GOCOLORS’s success stems from its exclusive focus on women’s bottom-wear, a structurally underserved category, which enabled the company to build deep domain expertise, high product variety, and strong brand recall, and its early transition to the EBO model, which provided complete control over pricing, merchandising, and consumer experience.”Financial performance and projectionsBetween FY19 and FY25, the company delivered a 20% CAGR in revenue and profit, with EBOs contributing 73% of sales. Gross margins improved 350 basis points to 63.3% over the period, though EBITDA margins stayed flat at about 17% due to negative operating leverage in FY25.Still, Go Fashion generated Rs 3.3 billion in cash from operations and Rs 1.6 billion in free cash flow, maintaining an 18% return on capital.Looking ahead, Motilal Oswal sees a 16% revenue CAGR through FY28, driven by 18% growth in EBO and online channels. It expects operating leverage to offset some pressure from raw material costs, expanding EBITDA margins to 18.2%.“We value the stock at 45x FY27E EPS to arrive at our TP of INR 1,127,” the note said, adding that the stock currently trades at 34x FY27E EPS after a recent correction.Technical outlook and recent stock performanceGo Fashion shares have declined 8% over the past year and are down 21% in the last six months. However, the stock has recovered 25% over the past three months and gained 4.3% in the last week.Technically, the stock is trading above six of its eight key simple moving averages, including the 5-day, 10-day, 20-day, 30-day, 50-day, and 100-day SMAs. It remains below the 150-day and 200-day SMAs. The Relative Strength Index (RSI) stands at 56.6, indicating the stock is neither overbought nor oversold. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 18.7, above its centerline but below the signal line.Also read | Why is it the perfect time to invest in Nifty 200 Momentum 30 Index?(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Amid persistent concerns over subscriber erosion and a heavy debt burden, Vodafone Idea (VIL) shares have drawn the attention of several brokerage firms, with some projecting the stock could rise to as high as Rs 12.10.The company posted soft Q4FY25 results wherein the consolidated net loss was reported at Rs 7,166.1 crore for the quarter ended March 31, 2025 (Q4FY25), marking a 6.6% improvement from the Rs 7,674.59 crore loss reported in the same quarter last year.Further, the company is not able to see any visibility on relief on its long-standing Adjusted Gross Revenue (AGR) dues, amounting to nearly Rs 30,000 crore.Following this, analysts across brokerage firms have weighed in on their views about the stock. Here’s what they say:UBS: Buy| Target price: Rs 12.10The brokerage firm noted that VIL's Q4FY25 results were below their expectations. Additionally, the company lost 1.6 million subscribers in Q4 (vs a loss of 5.1-5.2 million in Q2/Q3 and UBS’s estimate of 1.8 million subscriber loss in Q4). Overall, the results were slightly lower than the estimates and UBS noted that an eye needs to be kept on the fundraise updates, capex plan, 5G coverage and any potential AGR / spectrum relief measures.Nuvama: Hold| Target price: Rs 7.5According to Nuvama, Vodafone Idea reported in-line Q4FY25 results, with revenue declining 0.9% quarter-on-quarter due to muted ARPU growth, partly attributed to fewer working days in the quarter. Nuvama observed that while subscriber losses have moderated to pre-tariff hike levels, they still impede the company's recovery. The delay in debt funding remains a major overhang on VIL’s viability. The brokerage cut its FY26E and FY27E EBITDA estimates by 7% and 4% respectively, citing further dilution from the government’s equity holding. VIL is valued at 11x FY27E EV/EBITDA.Also read: Yes Bank shares crack 7% after 3% equity changes hands via block dealsMacquarie: Underperform| Target price: Rs 6.50Global brokerage firm Macquarie reported that VIL posted a weak set of Q4FY25 results, missing estimates due to continued subscriber erosion and higher interest burden. VI’s net subscriber base declined by 1.6 million quarter-on-quarter to approximately 198 million, while ARPU rose marginally by 0.6% to Rs 164.Macquarie noted that the company’s government dues stood at around US$22.5 billion, with US$4.3 billion of spectrum dues converted to equity, leading to a 49% government shareholding. In contrast, bank and financial liabilities were lower at US$0.3 billion, and the cash balance stood at US$1.2 billion. The board has approved a Rs 200 billion (US$2.3 billion) fundraise via equity, debt, or a hybrid route.The brokerage highlighted that the ongoing erosion in subscribers indicates persistent structural challenges, and despite the government being the largest shareholder, any further equity infusion remains uncertain. Macquarie continues to see industry-wide tailwinds from tariff hikes benefiting Bharti Airtel and Reliance Industries, which it maintains as Outperform-rated stocks.Motilal Oswal: Sell| Target price: Rs 6.5Motilal Oswal also highlighted that Vodafone Idea continues to lose market share to peers due to weaker ARPU conversion, a weaker subscriber mix, and high churn rates. The telco is planning a significant capex cycle of Rs 50,000–Rs 55,000 crore over the next two to three years to bridge the network gap with competitors. However, the brokerage noted that regaining lost subscribers will remain challenging, given rivals' stronger cash flows and deeper financial reserves.Motilal Oswal added that Vodafone Idea’s network investments are heavily reliant on fresh debt funding, which itself hinges on continued AGR relief and government support, with an estimated Rs 20,000 crore annual cash shortfall projected through FY26–31. Stabilizing the subscriber base and securing further government relief are seen as crucial to the company’s long-term survival.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Canada’s immigration department, Immigration, Refugees and Citizenship Canada (IRCC), has updated the rules around maintained status for temporary residents who submit multiple extension applications. The changes came into effect on 28 May 2025, according to a report by CIC News. According to the new guidance, if a temporary resident submits a second application for extension while already on maintained status and the first application is refused, the second application will no longer keep them in status. Instead, the second application will be refused and returned. This marks a shift from earlier rules, where the submission of a second application—even after a first refusal—could continue to provide legal stay, though not work or study rights.Maintained status, earlier known as implied status, allows a foreign national to remain in Canada legally and continue working or studying under the conditions of their expired permit, provided they applied for an extension before the expiry date.As per the CIC News report, under the previous rules, individuals could still be considered under maintained status even if their first application was refused and a second was pending. This has now changed. If the second application is submitted after the permit expiry and the first application is rejected, the individual is now considered out of status. They may apply for restoration if eligible.The updated officer instructions have also removed a section related to applying for work or study permits at the port of entry, aligning with the ongoing restrictions on flag-poling.These changes aim to bring clarity and consistency to how immigration officers process multiple applications and to ensure that applicants are not automatically kept in status solely due to a second pending application after a refusal.