Jaykumar Doshi News Today

Kansai Nerolac Paints has seen its market capitalisation (mcap) erode by over 5 per cent since May 3 after posting a subpar performance in the fourth quarter of 2023-24. Weighed down by stiff competition, the company has shed Rs 1,172 crore over the past two weeks in mcap. Indias largest paint maker in terms of mcap, expects double-digit growth in the industrial segment and aims to maintain margins, but its performance in decorative paints could suffer amid competition.

Tata Chemicals witnessed a 4.5% decline in shares, hitting a days low of Rs 1,050 on BSE. This drop followed the companys announcement of its first quarterly loss in nine years. Kotak Institutional Equities issued a sell rating on the stock, setting a target price of Rs 770, indicating a potential downside of nearly 29%.

Reliance Industries and Viacom18 have partnered with Disney to create a Rs 70,000 crore broadcast network, posing challenges for debt-ridden Zee Entertainment Enterprises. The company faces weakened competitive position, reduced bargaining power, tough competition from digital media, and corporate governance issues. Zee shares have lost 44% of their value this year.

A weaker-than-expected sales performance, concerns about higher competitive intensity in the current year, and earning cuts by some brokerages have weighed on the stock of the countrys largest paint maker, Asian Paints. While the Q3 volume show was slightly below expectations, the companys operational and bottom line beat estimates, benefiting from the falling raw material costs. The stock ended the day with a decline of over 2 per cent at Rs 3,175 apiece.

While the four largest listed paint companies have seen marginal negative returns, the S&P BSE Fast Moving Consumer Goods (FMCG) and the National Stock Exchange Nifty FMCG indices have delivered a solid 16 per cent return during the same period. Initially, volume growth and reduced costs bolstered the sectors sentiment, but brokerages have grown cautious due to increased competitive pressures.

Analysts feel that the current valuations do not capture the strong growth opportunity, concerns around top management appointments and content investments would remain key monitorables. Motilal Oswal said other than the Puneet Goenka issue, the other key monitorables for investors include strategy around investments in sports, Zee5 and growth in advertising income.

The stock of the countrys largest listed oral care company -- Colgate-Palmolive (India) Ltd is up 18 per cent over the past month. The gains were led by better than expected June quarter (Q1) performance of the 2023-24 financial year (FY24) and growth revival expectations of the oral care category. The companys volume growth is pegged at 5-8 per cent in Q1FY24. This is the second consecutive quarter of volume growth.

The markets have given a thumbs down to Jubilant FoodWorks results for the April-June quarter (Q1) of 2023-24 (FY24). The company, which owns and operates Dominos Pizza and Popeyes chain of stores, reported a (standalone) net profit of Rs 75.2 crore in Q1 of FY24 - a drop of 25.5 per cent year-on-year (YoY) from Rs 101 crore, but a quarter-on-quarter (QoQ) rise from Rs 47.5 crore. Whats worrying the Street is the likelihood of a dismal Q2FY24 performance, which it feels will be marred by soaring...

Tata Consumer Products Ltd (OTC:TTAEY) Q4 2022 Earnings Conference Call May 05, 2022, 02:30 ET Company Participants Aniruddha Joshi - ICICI Securities Limited Nidhi Verma - Head, IR &...

Explore Now NEW DELHI: Titan Companys financial results for the December quarter drew mostly positive reactions from analysts, with some of them raising their EPS estimates on a better-than-expected recovery in sales. The stock -- one of ace investor Rakesh Jhunjhunwalas favourites -- forms a major chunk of the Big Bulls wealth, even though lately he has trimmed his stake in the jewellery maker. Titan said on Wednesday that its profit for the quarter stood at Rs 419 crore, dented by a one-time ...