Category: News

PC Jeweller shares took center stage today as they traded ex-date for a 1:10 stock split, an eagerly anticipated move designed to boost liquidity and make the stock more appealing to retail investors. The split transforms each ₹10 face-value share into 10 shares of ₹1 each, reshaping the stock’s accessibility. Adding to the excitement, the company has secured board approval for a preferential issuance of over 51 million shares to major lenders like SBI, PNB, Axis Bank, and Kotak Mahindra Bank. PC Jeweller’s stock has been a superstar in 2024, with a jaw-dropping 247% gain year-to-date. It’s currently trading around ₹175, just shy of its 52-week high of ₹186.80 and miles above its ₹32.27 low. This remarkable rally speaks volumes about investor confidence in the company’s strategic maneuvers.

Monday marked a major milestone for HBL Power Systems, as its stock surged 6.5% intraday, hitting ₹739.65. The buzz? A ₹1,522.40 crore order from Chittaranjan Locomotive Works for their cutting-edge KAVACH Train Collision Avoidance System (TCAS)—a tech designed to make train travel safer and smarter. With India’s government pumping a record ₹2,62,200 crore into rail upgrades for 2024-25, safety and tech investments like KAVACH are at the forefront. HBL is a big telecom battery manufacturer with a deep research base. This isn’t just momentum. It’s a mix of strategy and timing. With its diversified portfolio—spanning batteries, electronics, and defense—HBL is well-positioned to ride the wave of India’s infrastructure push. For investors, the takeaway is clear: HBL is thriving in a market that values innovation and foresight.

The Reserve Bank of India’s interventions to prop up the rupee are running into turbulence, with both local and global pressures testing its resolve. Friday’s 0.1% gain for the rupee—fueled by suspected central bank interventions and possible inflows—was a glimmer of hope. Early indicators from the 1-month non-deliverable forward suggest the rupee will open around 84.82-84.83 per dollar, a hair weaker than Friday’s close of 84.7875. This week, all eyes are on the Federal Reserve’s Wednesday meeting. A quarter-point rate cut seems locked in, but the focus will be on the Fed’s tone for 2025. The rupee’s immediate future looks like a wrestling match between RBI’s defense and a rising U.S. dollar, with inflation and Fed signals playing referee.

Hamps Bio, a company involved in the marketing and distribution of pharmaceutical products and the manufacturing of freeze-dried and frozen goods, is tapping into both domestic and international markets. The company operates through a network of over 50 distributors and e-commerce platforms, with a focus on a variety of products ranging from pharma formulations to fruits, vegetables, and herbs.Hamps Bio’s initial public offering (IPO), which opened for bidding on Friday, December 13, is generating significant buzz. By 4:00 p.m. on the first day, the issue was subscribed 8.79 times, with retail investors driving the surge—seeing a massive 15.83 times subscription. The company plans to generate ₹6.22 crore via its IPO by issuing 12.22 lakh new shares, priced at ₹51 per share. The funds will go toward purchasing plant and machinery for its FMCG division, boosting brand visibility, and supporting general corporate expenses.

Steel Authority of India Ltd (SAIL) took a sharp dive on Friday, December 13, dropping nearly 6% during intra-day trading. This marked the end of a six-session winning streak and made it the top loser in the Nifty Metal index. The broader sector also took a hit, with the Nifty Metal index shedding over 2%, reflecting the mounting pressure on metal stocks across the board. The turbulence seems to stem from concerns over China’s economic moves. Reports are circulating that China plans to weaken the Yuan further against the US Dollar next year, adding to uncertainty in the global markets. SAIL’s stock slid to ₹121.90, marking a 5.8% decline, and is now 31% off its 52-week high of ₹175.65 from May 2024. SAIL wasn’t alone in feeling the heat. The entire Nifty Metal sector saw a sell-off, with major players like NMDC, Hindustan Copper, JSW Steel, and Tata Steel all shedding more than 3%. 

Indus Towers just made a notable move in the green energy space, sealing a Power Purchase Agreement with JSW Green Energy Eight Limited, a special purpose vehicle (SPV). The deal, worth around ₹38.03 crore, will see Indus Towers secure 130 MW of renewable energy from a Solar PV plant. The investment comes with a 26% stake in the SPV, aligning with the company’s commitment to achieving its Net Zero goals by ramping up its renewable energy procurement. However, the market’s reaction wasn’t as bright as the company’s green energy ambitions. Indus Towers’ stock dipped 2.5%, hitting an intra-day low of ₹335.35, adding to the tension from Vodafone Group’s announcement to sell its remaining 3% stake in the company.

ICICI Bank just made a big move. The board has greenlit the sale of a 19% stake in ICICI Merchant Services Private Limited (IMSPL), its associate company. This isn’t a casual shuffle of assets—it’s a ₹160-190 crore deal that will streamline the bank’s portfolio and redirect resources toward its core business. The sale agreement should be locked in by June 30, 2025, assuming all the regulatory boxes get ticked. Once the deal’s done, IMSPL steps out of ICICI’s associate status, marking a clean break. And while IMSPL pulled in a respectable ₹475 crore in revenue last fiscal year, ICICI Bank is clearly playing the long game—focusing on core services and sharpening its competitive edge. The stock climbed 2% and it’s not just today, either—ICICI has been riding a wave, up 35% year-to-date and gaining for seven straight months.

Dixon Technologies, stock has smashed through the ₹18,000 mark, setting a fresh record at ₹18,034 per share—its fourth straight day in the green. But the real story? A jaw-dropping 200% rise since February 2024. Yep, from ₹5,991 to ₹17,960, this isn’t just a bull run, it’s a stampede. With policies like the Production-Linked Incentive (PLI) scheme and SPECS boosting local production, coupled with the global “China+1” strategy, Dixon is cashing in big time. But it’s not just about policies—it’s the partnerships. Dixon’s collaboration with Google for Pixel smartphones, HP, and Asus for IT hardware is a game-changer. Laptops, smartphones, you name it—Dixon’s Chennai plant is gearing up to churn out 2 million units annually by FY25, targeting ₹3,500–4,000 crore in revenue by FY26.

After months on pause, negotiations for the India-UK free trade agreement (FTA) are set to restart by late January. India and the UK have been at this since January 2022, clocking 14 rounds of negotiations. From the UK’s perspective, it’s about more access for their goods like automobiles and whiskey, plus tweaks on rules of origin and intellectual property rights. India’s stance? It’s all about visas—making it easier for Indian professionals to work in the UK. Beyond trade in goods, there’s an investment treaty also on the negotiating table. While the UK is India’s 16th largest trading partner for goods, services trade paints a brighter picture. UK firms have pumped $225.5 billion into India, while Indian businesses have invested $12.9 billion in the UK. Clearly, this isn’t just about trade, it’s about deepening economic ties.

The agrochemicals industry is gearing up for a modest bounce back, with CRISIL Ratings predicting 7-9% growth next fiscal, a step up from this year’s 5-6%. The boost comes courtesy of steady domestic demand and improving export volumes. Margins are inching up, expected to land at 12-13% next fiscal—a slight recovery but still shy of the robust 15-16% seen before the pandemic. Cautious optimism rules the boardrooms, with companies choosing to play it safe on capital expenditure and focus on tightening their cash flows and balance sheets. While export volumes look promising, revenue growth this year is pegged at a modest 3-4%, courtesy of pricing pressure from Chinese competitors. Debt metrics are holding steady, with interest coverage at a comfortable 8x and debt-to-Ebitda hovering around 1.1-1.2x. The agrochemicals sector is moving forward, but don’t expect a sprint—it’s a marathon for now.