Latest news with #DeepakKorgaonkar
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Business Standard
3 days ago
- Business
- Business Standard
TCS stock hits 33-month low; Jefferies, YES Securities' take on what's next
TCS shares extended their decline for the fourth consecutive session, slipping 4 per cent after it announced plans to lay off roughly 2 per cent of its global workforce Deepak Korgaonkar Sai Aravindh Mumbai Listen to This Article Shares of Tata Consultancy Services (TCS) slipped 1 per cent to ₹3,058.10 on the BSE during Tuesday's intra-day trade, hitting their lowest level in 33 months. The stock of the information technology (IT) major is trading lower for the fourth straight day, falling 4 per cent after the company said it would lay off about 2 per cent or 12,260 employees of its global workforce. The stock has fallen below its previous low of ₹3,060.25, touched on April 7, 2025 and is trading at its lowest level since October 2022. Thus far in the calendar year 2025 (CY25), the stock
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Business Standard
4 days ago
- Business
- Business Standard
LIC portfolio sees Rs 46,000 crore dent in July; RIL biggest value drag
Meanwhile, four IT companies combined - TCS, Infosys, HCL Technologies and Tech Mahindra - have made a dent of ₹15,321 crore in LIC's portfolio thus far in July Deepak Korgaonkar Puneet Wadhwa Mumbai / New Delhi Listen to This Article Life Insurance Corporation of India (LIC), India's largest domestic institutional investor, has seen over ₹45,000 crore erosion in the value of its equity holdings after a fall in the equity markets thus far in July. The benchmark indices, Nifty 50 and BSE Sensex have slipped 2.6 per cent from their June 2025-end level to 24,837 and 81,463.09 levels, respectively. From ₹16.10 trillion as on June 30, 2025, the value of LIC's 322-stock has declined to ₹15.64 trillion as on July 25, 2025, marking ₹46,000 crore mark-to-market loss. However, LIC's portfolio value is still higher by ₹1.94 trillion from April 7,
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Business Standard
23-07-2025
- Automotive
- Business Standard
M&M shares hit new high, soar 40% from April low; more upside ahead?
Driven by a strong order backlog and new launches, Motilal Oswal Financial Services expects M&M to continue outperforming industry growth in FY26 Deepak Korgaonkar Mumbai Listen to This Article Mahindra & Mahindra (M&M) share price today Mahindra & Mahindra (M&M) shares hit an all-time high of ₹3,302.90 today, gaining 1.3 per cent on the BSE in Wednesday's intraday trade, on a healthy business outlook. The stock price of the automobile company surpassed its previous high of ₹3,276.30, which it had touched on February 10, 2025. It has bounced back 40 per cent from its 52-week low level of ₹2,360.45, touched on April 7, 2025. In the past one year, M&M shares have outperformed the market and the auto index by surging 17 per cent. In comparison, the BSE Sensex
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Business Standard
03-07-2025
- Business
- Business Standard
Brokerages remain cautious on Asian Paints despite recent rally in stock
Shares of Asian Paints rose to a two-month high, but brokerages remain cautious amid regulatory scrutiny and growing competition in the premium segment Deepak Korgaonkar Mum Listen to This Article Shares of the largest Indian paint company, Asian Paints, hit a two-month high of ₹2,464, up 2 per cent on the BSE in Thursday's intra-day trade amid heavy volumes. The stock price of the paint company has bounced back nearly 5 per cent from Wednesday's low, shrugging off the probe by the Competition Commission of India (CCI). The stock, which has outperformed the Nifty50 over the past month by delivering 7.8 per cent returns compared to 3.5 per cent for the benchmark, ended the day a tad higher. The Competition Commission of India (CCI) has ordered its director general (DG)
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Business Standard
03-07-2025
- Business
- Business Standard
This smallcap agri-related stock zooms 353% in 4 months. Do you own?
Shares of NACL Industries hit a new high of ₹252.20 in Thursday's intra-day trade, and were locked at the upper circuit for the seventh straight trading day - rallying 40% during this period. Deepak Korgaonkar Mumbai NACL Industries share price Shares of NACL Industries (NACL) hit a new high of ₹252.20, and were locked at the 5 per cent upper circuit on the BSE in Thursday's intra-day trade. The stock price of the pesticides & agrochemicals company was locked in the upper circuit for the seventh straight trading day, having rallied 40 per cent during this period. In the past five months, it has skyrocketed by 353 per cent from a level of ₹55.72 on the BSE. Currently, NACL trades under 'T' or Trade-for-Trade (T) group. The T group is a surveillance measure that requires securities to be settled on a trade-to-trade basis. What's driving NACL's stock price? The Competition Commission of India (CCI) approved Coromandel International's proposal to acquire a majority stake in NACL Industries. On March 12, 2025, Coromandel International, the Murugappa group, announced the acquisition of 53 per cent stake worth ~₹820 crore in NACL. This transaction should be completed by the first half of fiscal 2026, subject to regulatory approvals, the company had said. Coromandel said the acquisition would establish it as a leading player in India's crop protection industry, expanding its technical portfolio and strengthening its domestic formulation business. This will help in expanding Coromandel's scale in domestic B2C, provide access to complementary product portfolio, fast-track new product commercialization, besides giving access to R&D, manufacturing infrastructure and customer relationships. The deal will also help Coromandel scale up, enter the contract manufacturing business, fast-track new product commercialisation, and expand its product lineup. The management added that the acquisition would bolster Coromandel's presence in both domestic and export markets. It plans to leverage its management expertise, credit access, sourcing capabilities, and international reach to enhance NACL's operations and create value for shareholders. Crop Protection – Business Scenario Looking ahead, the recent tariff-related embargo poses a potential downside risk, as it could drive up input costs and dampen consumption - particularly in the United States, the second largest agrochemical consumer after Brazil. The agrochemical market in 2025 is expected to remain neutral with improving channel inventory and expected favorable weather conditions; however, uncertainties relating to price pressure and trade policies persist, Coromandel said in its FY25 annual report. Indian Agriculture experienced a good season with above normal rains and healthy reservoir levels. The season for agri inputs started on a positive note but continuous rains during peak consumption period & lower acreages of key agchem consuming crops like cotton and chilli led to lower applications. Overall, the industry is estimated to register a marginal growth owing to relatively low pest pressure across crops, the company said. About NACL Industries NACL, established as an agrochemical player in 1993, began its journey as an active ingredient manufacturer. Over the years, the company has built a substantial presence in domestic retail, B2B, and exports, forming solid and long-standing relationships with many large multinational customers. The company has also positioned itself as a reliable player in the formulations business, offering over 66 products for all major crops. Its product portfolio spans all key categories, including insecticides, herbicides, fungicides, and plant growth regulators.
