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Day after claiming that he hoped the Centre would relieve him of his fresh duties as a Union Minister, Suresh Gopi said news reports of him resigning from the Cabinet are 'grossly incorrect'.Gopi took oath as MoS on Sunday after being voted to power from Thrissur, making him the first-ever BJP MP in Kerala.Earlier, the Congress's Kerala unit had posted a news channel video on 'X' containing Gopi's remarks.When reporters asked whether he chose the post of Minister of State (MoS) considering his film commitments, a smiling Gopi had said, "Nothing was demanded. I had told (them) that I don't want this. I feel that I will be relieved without delay."Asked whether this posed a problem for the people of Thrissur who elected him, Gopi replied, "There is no problem for them. They know very well. As an MP for the people of Thrissur, I will perform very well. I desperately want to do films."During his chat with two Malayalam news channels on Sunday night, he had also expressed his desire to establish an AIIMS in Kerala and collaborate with other ministers in fulfilling his duties as an MP.— INCKerala (@INCKerala) Elected from Thrissur, the actor turned politician had said on Sunday that he was not “expecting to be in the ministry.” He added that he did not know what role he would be given in the cabinet. “I am obeying my Prime Minister and my Home Minister -- my national leaders,” he had said.On June 6, Gopi had said that he does not want to be a minister and all he wanted was that the ministries implement the projects he proposed for the welfare of the people of Kerala.Gopi has issued a clarification on social media that he is not quitting the cabinet. — TheSureshGopi (@TheSureshGopi) Gopi opened the account for BJP in Kerala for the first time since independence by defeating CPI’s V S Sunilkumar by around 74,000 votes. In 2019, Gopi contested the election with a BJP ticket but finished third, behind Congress and CPI. He was then elected as a Member of Rajya Sabha by the BJP.

N Chandrababu Naidu's family has seen a significant rise in wealth, with Andhra Pradesh-based Heritage Foods shares experiencing a remarkable surge of over 105% over the past 12 trading sessions. This surge has translated into a staggering increase of Rs 1,225 crore in the family's fortune.On Monday, Heritage Foods shares hit a fresh 52-week high of Rs 727.9 on the BSE, locking in a 10% upper circuit. Just over two weeks ago, on May 23, the stock closed at Rs 354.5. Notably, from June 3 (a day before election results) to June 10, the share price has seen an unbeaten rally.Chief Minister-designate Chandrababu Naidu's family's total holding in the company stands at 35.71%, translating into 3,31,36,005 shares.Naidu’s son Nara Lokesh is a promoter of Heritage Foods with nearly 10.82% stake as of March 31, 2024, according to the shareholding data available on the BSE. The other promoters include Bhuvaneshwari Nara and Devaansh Nara, who hold 24.37% and 0.06% stake, respectively, in the company. While the former is the wife of Chandrababu Naidu, the latter is their grandchild. Nara Brahmani who holds a 0.46% stake in Heritage Foods is the daughter-in-law.As of June 10, 2024, Bhuvaneshwari Nara's wealth stands at Rs 1631.6 crore, while Nara Lokesh's wealth amounts to Rs 724.4 crore. The cumulative wealth of the family from Heritage Foods now totals Rs 2,391 crore.The stock has been on an upward trend on Naidu’s sweeping win in the assembly elections. Naidu's Telugu Desam Party (TDP) in alliance with the Bharatiya Janata Party (BJP) and Pawan Kalyan's Jana Sena Party (JSP) clinched 165 out of 175 seats in the Andhra Pradesh assembly election, defeating YSRCP's Jagan Mohan Reddy.Meanwhile, Heritage Foods is one of India's leading value-added and branded dairy products companies. It has a presence in the cattle feed business through its subsidiary, Heritage Nutrivet Limited (HNL). Heritage Foods' milk and milk products, such as curd, ghee, paneer, flavoured milk, among others, are consumed by more than 1.5 million households in 11 states across India.The company clocked a growth of 17% and 83% in revenues and profit in the fiscal year 2023-24, respectively. Backed by the strong financial show, the stock jumped as much as 126% this year.However, the recent surge in the stock has pushed it into a strongly overbought zone, with the day's Relative Strength Index (RSI) and Money Flow Index (MFI) hovering above 94.4, well above the threshold of 70 considered as overbought territory. Moreover, the stock is currently trading above its 20-day, 50-day, and 200-day moving averages, indicating a bullish sentiment in the market.(Disclaimer: The views expressed by experts are their own and do not necessarily reflect those of The Economic Times)

Indian market is expected to trade higher on Monday tracking positive global cues.The Nifty future closed positive with gains of 1.90% at 23334 levels on Friday. India VIX was slightly up by 0.48% from 16.55 to 16.88 levels.On the options front, the weekly maximum Call OI is placed at 24,000 and then towards 23,500 strikes while the maximum Put OI is placed at 23,000 and then towards 22,800 strikes.Call writing is seen at 23,700 and then towards 23,500 strikes while Put writing is seen at 23,000 and then towards 23,200 strikes.“Options data suggests a broader trading range in between 22,500 to 23,700 zones while an immediate range between 23,000 to 23,500 levels,” says Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited.“The Nifty formed a strong Bullish candle on the daily frame on Friday and recovered all its losses of earlier this week and closed with intraday gains of around 470 points,” he said.“It has formed a small-bodied candle on a weekly frame with a long lower shadow indicating super strong support-based buying,” highlighted Taparia.“Now it has to hold above 23,200 zones for an upside move towards 23,500 then 23,700 zones whereas supports are placed at 23,100 then 23,000 zones,” he recommends.We have collated a list of stocks from the F&O basket along with cash market from various experts for traders who have a short-term trading horizon:Expert: Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited told ETBureauBajaj Auto: Buy| Target Rs 10,160| Stop Loss Rs 9500Bharti Airtel: Buy| Target Rs 1500| Stop Loss Rs 1385Divi’s Laboratories: Buy| Target Rs 4730| Stop Loss Rs 4420F&O Strategy:M&M Future (27 June Expiry): Buy| Target Rs 3000| Stop Loss Rs 2785Granules Future (27 June Expiry): Buy| Target Rs 505| Stop Loss Rs 467Expert: Nooresh Merani, an independent technical analyst told ETNowJSW Steel: Buy| Target Rs 950| Stop Loss Rs 900Bharti Airtel: Buy| Target Rs 1500| Stop Loss Rs 1400Bandhan Bank: Buy| Target Rs 220| Stop Loss Rs 190(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

PARIS: President Emmanuel Macron dissolved the lower house of France's parliament in a surprise announcement sending voters back to the polls in the coming weeks to choose lawmakers, after his party was handed a humbling defeat by the far-right in the European elections Sunday. The legislative elections will take place in two rounds on June 30 and July 7. The announcement came after the first projected results from France put the far-right National Rally party well ahead in the European Union's parliamentary elections, handing a chastening loss to Macron's pro-European centrists, according to French opinion poll institutes. Marine Le Pen's anti-immigration, nationalist party was estimated to get around 31%-32% of the votes, a historic result more than double the share of Macron's Renaissance party, which was projected to reach around 15%. Macron himself wasn't a candidate in the EU elections and his term as president still runs for three more years. He said the decision was "serious" but showed his "confidence in our democracy, in letting the sovereign people have their say." "In the next few days, I'll be saying what I think is the right direction for the nation. I've heard your message, your concerns, and I won't leave them unanswered," he said. In latest legislative elections in 2022, Macron's centrist party won the most seats but lost its majority at the National Assembly, forcing lawmakers into political maneuvering to pass bills. With Sunday's decision, he is taking a big risk with a move that could backfire and increase the chances of Le Pen to eventually take power. A scenario in which an opposition party would eventually win a parliament majority could lead to a fraught power-sharing situation called "cohabitation," with Macron to name a prime minister with different views. Le Pen, who head the National Rally group at the National Assembly, "welcomed" Macron's move. 'We're ready for it," said Le Pen, who was the runner-up to Macron in the last two presidential elections. "We're ready to exercise power if the French people place their trust in us in these future legislative elections. We're ready to turn the country around, ready to defend the interests of the French, ready to put an end to mass immigration, ready to make the purchasing power of the French a priority." The EU elections results were a hard blow for Macron, who has been advocating for Europe-wide efforts to defend Ukraine and the need for the EU to boost its own defenses and industry. The National Rally's lead candidate for the EU elections, Jordan Bardella, campaigned for limiting free movement of migrants by carrying out national border controls and dialing back EU climate rules. The party no longer wants to leave the EU and the euro, but aims to weaken it from within. "Tonight, our compatriots have expressed a desire for change," Bardella said. "Emmanuel Macron is tonight a weakened president." An official at Macron's office said the decision to dissolve the National Assembly was justified by the "historic score of the far-right" that could not be ignored and the current "parliamentarian disorder." "You're never wrong when you give the people a say," said the official, who spoke anonymously in line with the practice of Macron's office. EU elections' projections also show a resurgence of the Socialist Party, with about 14% of the votes. The party campaigned on more ambitious climate policies and protections for European businesses and workers, with about 14% of the votes. Reacting to Macron's announcement, far-left politician Francois Ruffin called on all leaders from the left, including the Greens to unite under a single "Popular Front" banner. "To avoid the worse, to win," he wrote on X. France is electing 81 members of the European Parliament, which has 720 seats in total.