With sales of cooling products turning out dismal this summer due to unseasonal rains, the stocks of related companies are now off their March highs. Shares of fan and air conditioner makers such as Voltas, Symphony, Orient Electric, Johnson Controls-Hitachi Air Conditioning and Crompton Greaves are down 5-23 per cent since March when the summer season saw a firm onset. In comparison, the BSE Sensex index is up 10 per cent.
It's all eyes on the consumer durables sector during the festival season after a weak Q1FY24 and Q2FY24 was impacted by an erratic monsoon. Traditionally, this period sees the highest number of purchases. Dealers and manufacturers are complaining about low business-to-consumer (B2C) off-take during the first half.
Unseasonal rains watered down the performance of consumer durables companies as temperatures cooled, impacting the sales of refrigerators and air conditioners (ACs) in the 2023-24 (FY24) April-June quarter. Centrum says in its report on the sector that the trade channel indicates a 25-30 per cent year-on-year (YoY) decline in sales of refrigerators and ACs in April and May due to restricted buying. "While some green shoots in demand were visible in June, overall growth for the quarter is likely to remain at a negative 10-12 per cent," observes the brokerage.
Campa is set to take on its competition, which pushed it out of the aerated drinks business in the late 1990s, but this time with a new owner - Reliance Industries. Campa's entry comes at a time when aerated drinks as a category is already saturated. But experts say this could give rise to competition in the segment, eventually causing the space to grow.
IMD expects day temperatures to remain above-normal in select regions across the country between March and May 2021.
The letter shared with the media on Saturday comes amid Maharashtra losing several big-ticket projects to neighbouring Gujarat.
The industry is expecting double-digit growth on a year-on-year basis, helped by a possible price correction after softening of raw material inputs and factors such as positive sentiments, pent up demand and improving economic conditions. Besides, a shift in consumer behaviour from price consciousness towards technologically advanced premium products with quality, value proposition and safety aspects leading to a rise in demand for home automation products is making the industry upbeat. With the government's production linked incentive (PLI) scheme for white goods, which has witnessed a committed investment of Rs 4,614 crore, in place, many manufacturers are gearing up to make the most out of the opportunity as well as take steps towards reducing their dependency on imports and make products more affordable.
Johnson Controls-Hitachi, Voltas, Blue Star, Whirlpool recently recorded new 52-week highs but still haven't lost their steam
Voltas, a Tata Group company, is recruiting sales executives.
Analysts caution against volatility and recommend buying stocks of companies that are on strong fundamental footing that have been beaten down badly in the recent carnage.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The decision to push the restart date for some clubs back until Sunday, June 28 came after Botafogo and Fluminense, who both say it is premature to play football, took the case to court to try to postpone their restart.
Readers share their mom's special qualities.
RBI policy, macro data, company earnings to decide market course this week: Experts
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
While the Budget might have been a sentiment booster for the sector, firms with market dominance emerge as favourites.
Half a dozen names are doing the rounds as replacement for Cyrus Mistry as the chairman of the Tata Group.
Ajit Mishra, vice president, Research, Religare Broking, answers queries on how to invest in stocks.
The 14 listed Tata group companies in which Tata Sons holds a stake are paying out a record Rs 35,441 crore to their shareholders by way of dividends and share buyback for FY21.
Urvi Malvania looks at what is in store for the IPL's 2019 edition.
According to data compiled by media research agency TAM, the rate of growth of advertising on television in terms of the number of hours was half during the January-June period this year in comparison with the corresponding period last year.
Data shows of the 385 companies, which had announced their latest shareholding, fund houses cut their stake in about 200.
Reliance Infra claims the run by the market operator has caused a loss of Rs. 300,000 crore to infrastructure stocks.
Seven bidders, including Voltas, Deepak Fertilizers and Bharat Hotels have submitted requests for qualification (RFQ) to build a Rs 250-crore (Rs 2.5 billion) terminal market in Thane district near Mumbai.
Small- and mid-size companies where Cyrus was the chairman did better on bourses than large Tata group companies
Consumer businesses come to the rescue of large conglomerates in the midst of a meltdown in commodities.
The added burden on manufacturers for recycling e-waste is expected to impact their margins, which may further lead them towards hiking prices of other items.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Given the school break, this is the peak travel season and companies catering to the 'friends and family' segment are expected to gain.
Famous and long believed to be trusted Indian brands have wilted against foreign brands, says Mohan Guruswamy.
Former Brazil striker Romario came off the bench to score a 10-minute hat-trick as Vasco da Gama routed Volta Redonda 6-1 in the Carioca championship on Sunday.
In its report 'Global Top Picks', Barclays expects the current bull market in global equities to continue, generating a total return of 9 per cent in 2015.
Chinese consumer electronics firm Haier has taken the wholly owned subsidiary route to return to India, about two years after the distribution alliance with a local partner was terminated.
Haier Appliances (India) Pvt Ltd, a wholly owned subsidiary of Chinese white goods major Haier Technology, is planning to enter the Indian market in a big way by launching models across various product categories.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
As home and kitchen is one of the most sought after categories during Diwali, the launch comes at a time when customers can enjoy shopping for appliances with ease and convenience, the company said.
From selling 14,000 Jeeps in 1973, we slipped to selling just 7,000 vehicles within just three-and-a-half years by 1976.
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