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Business Upturn
10 hours ago
- Business
- Business Upturn
Top Stocks in focus on June 24: Reliance Industries, ONGC, TVS Motor, Cochin Shipyard and more
By Aman Shukla Published on June 24, 2025, 09:09 IST Indian equity markets closed significantly lower on Monday, June 23, 2025, amid rising geopolitical tensions in the Middle East, with the United States reportedly getting involved. The BSE Sensex fell by 511.38 points (0.62%) to end at 81,896.79, while the NSE Nifty50 declined by 140.50 points (0.56%) to settle at 24,971.90. Ahead of Tuesday's trading session on June 24, the following stocks may remain in focus: IOC, Reliance Industries : Government has imposed anti-dumping duty on imports of Linear Alkyl Benzene from Iran and Qatar for five years. ONGC, Oil India : May see movement following the sharpest single-day fall in crude prices since March 2022, with Brent dipping below $70 per barrel. : May see movement following the sharpest single-day fall in crude prices since March 2022, with Brent dipping below $70 per barrel. SBI Cards : Reported year-on-year growth in May above industry levels and gained market share in overall card spends. TVS Motor : Launched the HLX 150 5G model in the Republic of Congo. Metro Brands : Signed an exclusive distribution agreement with Clarks for India and neighbouring countries. Allcargo Logistics : Reported a 3% month-on-month increase in less-than-container load (LCL) volumes; full-container load (FCL) volumes remained flat. Garware Technical Fibres : Subsidiary to acquire two advanced wire rope manufacturing companies in Norway for ₹111 crore. HG Infra : Declared lowest bidder for a project worth ₹118 crore. Devyani International : To acquire an additional 6% stake in Sky Gate Hospitality for ₹106 crore. Lemon Tree Hotels : Signed a new Keys Lite property in Kharar, Punjab, with 47 rooms. Cochin Shipyard : Received orders worth ₹100–250 crore for two luxury river cruise vessels. Setco Automotive : Entered the suspension solutions segment for medium and heavy commercial vehicles. Dixon Technologies : Promoter sold 2.77% stake via block deals; Motilal Oswal Mutual Fund emerged as a buyer. KPIT Technologies : Management cited uncertain demand trends in the US and Asia, with slower-than-expected deal conversions. Marathon Nextgen Realty: Plans to raise up to ₹900 crore through a QIP; indicative issue price reflects a 12% discount to the current market level. 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. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Time of India
17-06-2025
- Business
- Time of India
Crude awakening: Companies wait & watch
This is an AI-generated image, used for representational purposes only. MUMBAI: From packaged goods makers to retailers and paint companies, firms are keeping a close tab on crude oil prices, which have been volatile since the start of the escalating conflict between Israel and Iran. Higher crude oil prices tend to inflate input costs for companies-crude-linked derivatives, for instance, are used in the packaging of FMCG products across categories such as food and beverages and personal care, while certain segments like detergents and dishwashing liquids are heavily dependent on Linear Alkyl Benzene (a crude derivative) as a key raw material. Beauty products like lotions, creams, and lip balms also use crude derivatives like petroleum jelly, said Anuj Sethi, senior director at Crisil Ratings. The development comes at a time when broader consumption had started seeing some green shoots after several sluggish quarters, helped by tax sops, easing food inflation, and rate cuts. Further escalation of the conflict in West Asia could impact demand recovery in the near term. For companies, the challenge will be on two fronts- protecting margins if input costs spike and getting consumers to spend more; high oil prices typically impact overall household spending, nudging consumers to cut budgets on their discretionary purchases. "Crude plays a major role in two cost centres- freight and packaging. This can impact the bottom line of companies. We are monitoring the situation and hope things do not escalate," Mayank Shah, vice-president at Parle Products, told TOI, not ruling out risk to demand recovery in the short term. Geopolitical tensions in West Asia could pose short-term headwinds by driving up crude oil prices. "This may drive up prices of the overall purchase basket and pinch consumers," said Krishna Khatwani, head of sales (India) at Godrej Consumer Products. Oil prices settled 7% higher on Friday, rising more than 13% during the session to their highest levels since Jan. On Monday, prices edged down after opening higher as the attacks so far didn't hit critical export infrastructure, international media reported. But oil markets remain tense, and the future trajectory is uncertain. "Israel-Iran tensions and Brent Crude climbing into the high $70s per barrel pose cost pressures. If sustained, these may translate into pricing adjustments for some businesses and temper consumer sentiment," said Tarun Arora, CEO at Zydus Wellness. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
