PI Industries shares rise nearly 4% after Kumiai Chemical ups FY25 profit forecast by 34%
By Aditya Bhagchandani Published on June 4, 2025, 10:55 IST
Shares of PI Industries surged 3.55% to ₹3,947.60 on Tuesday after Kumiai Chemical, a key customer and collaborator, significantly revised its second-quarter forecast for FY25. The Japanese agrochemical major raised its operating income forecast by 34.3%, citing stronger-than-expected exports in the Agricultural Chemicals and Agriculture-Related Business segments.
Kumiai now expects operating income of 9,400 million yen, up from the previously projected 7,000 million yen. Net sales are forecast to increase 8.7% to 96,100 million yen. This positive revision signals improved demand and advanced shipments to overseas partners, including India's PI Industries, which has long maintained a strategic relationship with Kumiai for product development and global distribution.
The upbeat outlook buoyed investor sentiment in PI Industries, sending its stock higher on above-average volumes. The market cap of PI Industries now stands at ₹595.19 billion.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
11 minutes ago
- Yahoo
Why more and more companies are buying bitcoin
More corporations are adding bitcoin to their balance sheets, boosting demand. Low-growth firms would be good candidates to follow Strategy's lead, Bernstein said. Here's why bitcoin has turned into a must-have asset for some companies. The bitcoin boom is drawing the attention of more companies, who are following Strategy's lead and piling up the token in their corporate treasuries. A growing list of firms have turned themselves into bitcoin holding companies recently, incorporating the top crypto in their balance sheets along with more traditional assets like cash and bonds. To date, 80 companies have embraced the "bitcoin standard," and they own about 3.4% of the total bitcoin supply, according to a report from Bernstein Research. Many are trying to replicate the success of Strategy, which pioneered the bitcoin treasury strategy and has amassed a trove of around 554,000 bitcoins. The company's stock has outperformed the Magnificent Seven, S&P 500, and its underlying bitcoin holdings in the last 12 months. Following suit, last month, GameStop added $500 million of bitcoin to its balance sheet in its first-ever crypto purchase, and Trump Media & Technology Group announced plans to raise $2.5 billion for a bitcoin treasury. In April, the SPAC Cantor Equity Partners merged crypto firm Twenty One Capital with the goal of becoming a pure-play bitcoin holding company and saw its shares spike nearly 500% in the first week of trading. Bernstein predicts that company demand could drive $330 billion of inflows into bitcoin by 2029, with up to $124 billion of that from Strategy alone. That influx of corporate money would be bullish for bitcoin's price. However, buying bitcoin isn't a one-size-fits-all maneuver, and Strategy's success may be hard to replicate, Bernstein said. Bernstein estimates that around 2,000 global companies with market caps under $100 billion could be prime candidates for bitcoin adoption. These firms share characteristics like low growth (defined as sub-5% yearly revenue growth rate), low leverage, and high cash piles of $100 million or more. Bitcoin could be a lifeline for these types of companies. Firms with poor growth prospects might decide that their cash is better spent on investing in bitcoin than letting it sit on their balance sheet earning minimal returns. A prime example is Japanese hotel-management company turned bitcoin treasury, MetaPlanet. After years of weak profitability and stock-price stagnation, MetaPlanet began purchasing bitcoin in 2024 via cash raised from bond and equity sales. The move paid off, and the stock is up over 500% in the last year. Some larger companies, such as Tesla, have also purchased bitcoin in the past. However, other mega-cap companies have rejected proposals to buy bitcoin. Meta is the latest example, with over 99% of shareholders voting against a bitcoin treasury plan earlier this week. Proposals have also failed at Amazon and Microsoft. Not all businesses will find the same success as Strategy. The business software company has been piling up bitcoin for five years, enticing investors with equity, convertible debt, and preferred stock offerings to fund even more purchases. The stock provides investors with price appreciation, convertible debt offers more capped upside, and preferred stock provides dividend payouts. The company also has the benefit of experience after weathering multiple bitcoin price crashes. MetaPlanet and other treasury companies have issued convertible debt and equity, but Bernstein points out these companies don't have the same scale and ability to raise funds as Strategy. However, as bitcoin popularity skyrockets, it's clear that lack of experience won't stop these companies from taking a page from the Strategy playbook. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Eater
18 minutes ago
- Eater
The Saddest NYC Restaurant Closures in June
This is Eater's guide to all the New York City restaurants, bars, and cafes that closed in June 2025 (see: May , April , March , February , and January ). This list will be updated weekly and is a round-up of the dining and drinking places that have shuttered around the city. If a restaurant or bar has closed in your neighborhood, let us know at ny@ June 5 East Village: Danish pastry bakery Sweet Cake appears to have closed its Manhattan location, as reported by EV Grieve, sometime this spring. Its Flushing location remains open. 215 First Avenue at East 13th Street Greenwich Village: Critically acclaimed Japanese Peruvian restaurant Llama San is closing this week after six years this week. Its last day will be on Saturday, June 7. Chef Erik Ramirez and Juan Correa are still operating Llama Inn in Brooklyn and the recently opened Papa San, both with similar Japanese Peruvian approaches. 359 Sixth Avenue, at West Washington Place . Harlem: Japanese comfort food restaurant Chopped Parsley closed on Saturday, May 31. Owner and chef Yumika Parsley, who opened her restaurant in 2015, had been recounting her issues with the address's management on Instagram, writing that she was told she wasn't able to renew the lease back in March. 500 West 146th Street, near Amsterdam Avenue Herald Square: Martinique Hotel restaurant B&L Diner has closed sometime in May. The space had been co-partner Franklin Becker's restaurant the Press Club Grill, but that closed in September 2024 to become this diner later that fall by Becker and chef Stephen Loffredo. The hotel's other dining and drinking spots include newcomer dessert shop Sweet Graffiti, cocktail bar the Bronze Owl, and the B&L Bakery. 1262 Broadway between 32nd and 33rd streets Long Island City: Queens Chinese speakeasy 929 Speakeasy closed on Sunday, May 18. The team is going to relocate the cocktail bar, which opened in 2021, to a new address sometime later this year, per its website. The team also turned the current address into a new bar, 56709, with cocktails and Japanese City pop music. 42-45 27th Street, between 42nd Road and 43rd Street Upper West Side: Chinese dry hot pot restaurant 108 Food Dried Hot Pot closed sometime this past spring, as reported by West Side Rag. Former Eater NY critic Robert Sietsema raved about the restaurant when it opened in 2017. 2794 Broadway at West 108th Street Upper West Side: Family-run Mexican restaurant Taqueria y Fonda is closing on Saturday, June 7, as reported by I Love the Upper West Side. Owner Jorge Lopez had sold the restaurant because of 'rising rents,' per the website. The restaurant had opened back in 1999. 968 Amsterdam Avenue, between West 107th and 108th streets Sign up for our newsletter.
Car and Driver
21 minutes ago
- Car and Driver
President Trump Could Sell His Tesla Model S Amid Elon Musk Feud
In the midst of his feud with Elon Musk, President Donald Trump may sell his recently purchased Tesla Model S. U.S. presidents aren't actually allowed to drive, so the red Model S here is symbolic. Tesla's stock price is suffering due to the very public feud, and the storm isn't over yet. Where once the powerful feuded publicly in newspaper columns, social media has now enabled all sorts of angry outbursts to go very public, very quickly. Thus, the falling out between President Donald Trump and one-time ally Elon Musk involved a heated exchange that everyone with an internet connection was invited to. The rift has yet to heal, and now a White House official is indicating that President Trump might be selling off his red Tesla Model S. Ownership of this car is largely symbolic, as U.S. presidents and vice presidents are not actually allowed to drive on the public road (there have been some exceptions, notably Lyndon B. Johnson's love of speeding around Texas). However, the contrast between the livestreamed event in March, where Tesla models were lined up on the White House lawn, and the President selling off the Model S he bought at the time, shows how icy the relationship between the two powerful figures has become. getty images This feud is not really a surprise to anyone familiar with the behavior of either of the combatants in the past. The spark that lit the fuse was Musk posting on his social media network, X, that the upcoming public spending bill recently passed by the House was financially irresponsible. President Trump responded, expressing that he was disappointed in Musk's comments. Financially, the public squabble has been disastrous for Tesla's stock price, which tumbled 14 percent yesterday before slightly recovering today. SpaceX also relies heavily on government contracts, and one of Trump's threats on Thursday was to pull the funding for those contracts, which could also put that company in danger. Online, there's been plenty of both schadenfreude and chagrin, depending on where people fall on the political spectrum. Should the feud continue or worsen, there's the potential for plenty of damage to both men. Trump selling off his Tesla publicly might not quite be a canary-in-the-coal-mine moment, but it is another escalation. Certainly, neither figure here is short on ego, and neither is a stranger to airing their grievances. The fighting isn't over, and the arena couldn't be more public. Brendan McAleer Contributing Editor Brendan McAleer is a freelance writer and photographer based in North Vancouver, B.C., Canada. He grew up splitting his knuckles on British automobiles, came of age in the golden era of Japanese sport-compact performance, and began writing about cars and people in 2008. His particular interest is the intersection between humanity and machinery, whether it is the racing career of Walter Cronkite or Japanese animator Hayao Miyazaki's half-century obsession with the Citroën 2CV. He has taught both of his young daughters how to shift a manual transmission and is grateful for the excuse they provide to be perpetually buying Hot Wheels.
