Following a strong performance in the 2022-23 January-March quarter, publicly listed paint industry giants displayed a mixed performance in the 2023-24 (FY24) April-June quarter. While Berger Paints India outperformed its peers and reported results in line with expectations, market leader Asian Paints and Kansai Nerolac Paints fell slightly short of expectations.
April-June 2023 (Q1FY24) was a mixed quarter for India's top family-owned business groups. Three of the big five in terms of revenue reported a year-on-year (Y-o-Y) decline in combined net sales and two saw a Y-o-Y fall in net profits. Combined net sales of all listed companies in the five groups were up just 2.2 per cent Y-o-Y at Rs 6.6 trillion in the quarter, down sharply from the 10.3 per cent in the March 2023 quarter (Q4FY23) and 42.8 per cent in Q1FY23.
In Friday's market rally post the corporate tax cut, the country's top business promoters recouped more than two-thirds of the losses that they suffered in the post-Budget sell-off in equity markets.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Market cap of government companies has remained unchanged in the past 8 years.
Markets gained for the fifth straight session to end the customary 'Muhurat' trading session held to usher in the new year Samvat 2071 on a firm note post the slew of reforms announced by the government over the past few days.
Richest 10 account for 41% of promoter wealth, up from 33% in December 2018, says Krishna Kant.
Amid cooling raw material prices, the crude-oil linked companies, which includes paint and tyre firms, have been on a roll over the past one year. Shares of related companies have gained up to 84 per cent, as against a 14 per cent rise in the S&P BSE Sensex. Analysts, however, believe stretched valuations in both these sectors could trigger a de-rating.
Hamsini Karthik reveals why the ongoing business rejig will help unlock value for shareholders of Grasim, Reliance Capital and Tube Investments
Investors brace up ahead of the key macrodata- IIP and CPI numbers due to be unveiled tomorrow.
Consumer businesses come to the rescue of large conglomerates in the midst of a meltdown in commodities.
Additional levy to eat into Rs 6,000-crore income of top promoters
The surge in deal value is largely due to the $12.9 bn Essar-Rosneft deal
Reliance Industries, Grasim, and ITC were the top held stocks by mutual funds in terms of value in July.
Participants are keenly awaiting the rollovers to the next series ahead of the expiry of June F&O.
Tight liquidity will hit over-leveraged and cash-hungry companies, spare conservative ones
With inflation down, the government's twin deficits are largely under control.
From India, Reliance Industries is the only one in the overall top-200 list and is followed by HDFC Bank at 209th, ONGC at 220th, Indian Oil at 288th and HDFC Ltd at 332nd place.
Traders said falling crude prices in the global market was a big boost for the economy as it lightens the country's import bill burden, eases inflation and current account deficit concerns.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
The 30-share Sensex ended down 159 points at 27,425 and the 50-share Nifty closed down 24 points at 8,299.
Broader markets broke the winning streak and ended lower, underperforming the benchmark indices
Cement shares have been outperformers on the stock market
Above normal monsoon forecast and strength in Asian equities lifted sentiments.
The broader markets, however, outperformed the benchmark indices -- BSE Midcap and Smallcap indices ended up 0.6%-1%.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
The director general of investigations and registration, in its 30-page report submitted to MRTPC, said that industry body CMA was instrumental in fixing prices in the sector.
Fresh investments by corporates up just 5.8% in FY17, lowest since 1992
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The cement index, consisting of the top five cement companies has appreciated by almost 16 per cent.
Major cement companies have hiked the cement prices in South India by Rs 8-10 for 50 kg bags.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Sensex took less than two years to rally from the 10,000-mark it first hit in February 2006 to double that on that New Year's Eve.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Hailing Prime Minister Narendra Modi and the Bharatiya Janata Party government, top industry captains pledged mega investments at the Vibrant Gujarat Global Summit
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
