The company is the India market leader in contract manufacturing of ACs, a business where it is facing challenges due to brands increasingly turning to in-house manufacturing of room ACs.
Private weather forecaster Skymet has predicted a normal monsoon this year with the ongoing El Nino, which dragged monsoon rains in 2023 to below-normal levels, expected to get softened. Also, the monsoon-supporting La Nina, triggered by the cooling of the Pacific Ocean, is likely to evolve during the latter half of the season, it said.
Stocks that will see action today: July 25, 2023 - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Get latest articles and stories on Business at LatestLY. Brokerage firm Angel One has given "buy" ratings for 15 stocks. Business News | Stocks to Watch: Check These 15 Companies Recommended by Angel One.