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Business Standard

Global tech body concerned over future after import mgmt scheme expires

ITI represents 80 technology firms around the world, including giants like Apple, Amazon, Google, Dell, Microsoft, and Tata Consultancy Services

Business Standard

Veeram Securities Ltd leads losers in 'B' group

P N Gadgil Jewellers Ltd, Ecos (India) Mobility & Hospitality Ltd, Kriti Industries (India) Ltd and PTC India Ltd are among the other losers in the BSE's 'B' group today, 19 September 2024.

The Economic Times

Pritika Engineering buys 87,000 sq ft land to expand production capacity

Pritika Engineering Components Ltd has acquired 87,000 square feet of land in Hoshiarpur, Punjab to expand its production capacity. The company plans to invest Rs 49.50 crore in this expansion, funded through a planned fundraise. PECL is also exploring opportunities in the railways and defence sectors for additional revenue streams.

The Economic Times

ITC, Pidilite Industries among 5 stocks with long buildup

A long buildup happens with rising open interest and volumes, indicating bullish trends. On Wednesday, five stocks saw new long positions.

Business Standard

ITI wins order of Rs 300 cr for solar street lights in Bihar

The above-mentioned systems are to be installed under supervision of Bihar Renewable Energy Development Authority (BREDA) and the major Components of the Solar Streetlight Systems are Solar PV Module, Solar Batteries, LED Luminaries, Mounting Structures, and Balance of System (BOS).

Business Line

ITI, SEPC bag development contracts in Bihar

ITI bags ₹300-crore project to install solar street lights; SEPC bags ₹182.57-crore drinking water supply project

Mint

ITI shares surge over 8% on ?300-crore solar street light systems order in Bihar

Shares of ITI Limited rose over 8% after the company secured a ?300 crore order for 1,00,000 solar streetlight systems in Bihar. This order highlights ITI's commitment to renewable energy and sustainable infrastructure development.

The Economic Times

ITI Limited secures Rs 300 cr order for solar street light systems in Bihar

ITI Limited has secured a Rs 300 crore order from the Bihar Renewable Energy Development Authority to supply and install 1,00,000 solar street light systems. This project, part of the Mukhyamantri Gramin Solar Street Light Yojana, aims to enhance rural infrastructure with sustainable energy solutions across multiple districts in Bihar.

CNBC TV18

ITI shares surge up to 9% after PSU wins order worth ₹300 crore

ITI is one of the few PSUs that have a low float in the market, as the government holds a 90% stake in the company, while another 7.9% is held by a Special National Investment Fund, controlled by the government.

The Economic Times

DMart, Pidilite Industries among 5 largecap stocks that hit fresh 52-week highs on Monday

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Business Standard

Pritika Group eyes Rs 950 cr sales in 3 years with order book of Rs 650 cr

Engineering and automotive components maker Pritika Group is eying Rs 950 crore sales in next three years on the back of strong order book of Rs 650 crore. This growth plan is driven by rising demand in the engineering and automotive components industry, a company statement said on Monday. "We target to achieve sales of about Rs 900 crore to Rs 950 crore, with a PAT (profit after tax) margin of 7-10 per cent in the next three years," said Harpreet S Nibber, Managing Director, Pritika Engineering Components Ltd. Building on a strong performance in financial year 2023-24 and a robust start in the April-June quarter of FY25, the company aims to capitalize on the rising demand in the engineering and automotive components industry, he added. Pritika Group has demonstrated strong financial performance in the past fiscal year, FY2023-24, it said. Pritika Auto Industries Ltd reported a consolidated total income of Rs 343.71 crore in the last fiscal, a year-on-year growth of 15.74 per cent

Business Line

Stocks that will see action today: September 6, 2024

Buzzing stocks: Adani Enterprises, Infosys, KEC International, Ashok Buildcon, NLC India, Pidilite Industries, Venus Pipesk Brigade Enterprises

Business Standard

ITI scores improve in latest grading; 8.9% receive grade 8 rating

The latest grading comes after FY25 Budget announced a new scheme to skill 2 million youth over the next five years, with 1,000 ITIs to be upgraded in hub-and-spoke arrangements focused on outcomes

CNBC TV18

Pidilite Industries seals exclusive distribution agreement with CollTech Group

CollTech Group is a respected brand specialising in the manufacture and sale of high-performance adhesives and thermal management solutions.

CNBC TV18

Analysts see upside in Piramal Pharma, JSW Holdings, Pidilite Industries, GNFC and Dabur India

On Thursday, market tech analysts Apurva Sheth and Mitessh Thakkar recommended these stocks for the short term.

Mint

Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday — Sept 2

Buy or sell stocks: Sumeet Bagadia has recommended three stocks to buy on Monday — Dr Reddy's Laboratories, Godrej Consumer Products, and Pidilite Industries

Business Standard

ITI Mutual Fund projects to reach Rs 1 trn AUM in next five years

ITI Mutual Fund aims to reach Rs 1 lakh crore AUM in the next five years, as an increasing number of people are choosing mutual funds through systematic investment plans. ITI MF's asset under management (AUM) increased nearly 2.4 times to Rs 8,791 crore in July 2024 from Rs 3,698 crore in March 2023. Mayukh Datta, chief business officer of the AMC, said the mutual fund industry has about 4.80 crore unique PAN investors. It currently has 9.34 crore live SIP accounts with Rs 13.09 lakh crore in the AUM. He further said that as of March 31, 2024, there were 74.67 crore PAN holders in India, and 60.5 crore PAN were Aadhaar-linked. "So, we are yet to have 10 per cent of the investible population, i.e. PAN card holders, yet to come to the mutual funds universe. There is enough of runway for new investors to enter the mutual fund industry," Datta said in an interaction with PTI. He further said India remains in a golden spot on the world map, with expected growth outpacing most global ..

CNBC TV18

State-owned ITI gets its first EVM order, will supply 500 units to West Bengal

The multi post EVMs will be manufactured at ITI's factories complying with the technical specifications of the Election Commission. Shares of ITI Ltd ended at ₹300.35, down by ₹4.05, or 1.33%, on the BSE.

Business Standard

ITI bags order from State Election Commission of West Bengal

For supply of 500 sets of Electronic Voting Machines

Business Standard

Tata Group to give jobs to 4,000 women from U'khand at TN, Karnataka plants

Tata Group will give jobs to 4,000 women from Uttarakhand at its plants in Tamil Nadu and Karnataka. Its Chief Human Resource Officer Ranjan Bandopadhyay has written a letter to this effect to the state planning department, an official release said here on Monday. The recruitment process will begin soon, it said. Tata Electronics Pvt Ltd will appoint 4,000 women candidates from Uttarakhand at its plants in Hosur in Tamil Nadu and Kolar in Karnataka under the NPS and NATS programmes, the release said. Those who have cleared class 10 or 12 examinations are eligible for NPS programmes, while for NATS an ITI diploma is necessary in addition to these, it said. After selection, they will be appointed as shop floor technicians. Apart from a fixed salary, they will also get accommodation, food, transportation and other facilities, it said.

The Economic Times

Should you be booking profit in capital market plays? This is what Rajesh Bhatia has to say

Rajesh Bhatia, CIO of ITI MF, addressed the future growth and current valuations in sectors like defence, railways, domestic pharma, and electric vehicles. He cautioned about the high beta and cyclical nature of capital market plays. Bhatia also noted the ongoing structural shifts and challenges within these sectors, urging a careful approach to investments.

The Economic Times

Stay invested! There's more value in largecaps but growth story is panning out in mid & smallcaps: Rajesh Bhatia

Rajesh Bhatia, CIO of ITI MF, discussed the current market uptrend, emphasizing the strength of India's structural bull market. He highlighted significant growth in midcap and smallcap sectors, particularly in defence, electronic manufacturing, and capital goods. Bhatia advised staying invested despite frothy valuations due to robust macro conditions and potential for future capital expenditure.

Business Standard

Major domestic appliances market sees 18% growth in first half of 2024

The market of major domestic appliances saw an 18 per cent value-based growth in the first half of 2024, helped by a strong demand for essential household items, according to a report from GfK. The growth in MDA (major domestic appliances) market was led by Key categories such as air-conditioners and refrigerators, which reported a growth of 30 per cent and 7 per cent, respectively. "This growth is 3X of growth in 2023 over the previous year," said the report from GfK, which is now an NIQ Company, a leading global market and consumer intelligence firm. The small domestic appliances market recorded a 29 per cent increase in value, reflecting heightened consumer interest in home convenience products, according to the report. The report also added that customers are now looking for feature-rich and premium products, which is fuelling the value growth in the appliance segment. Now washing machines with capacities of 9kg or above have recorded an "impressive growth rate of 30 per cent"

Mint

For Fevicol maker Pidilite, its rich valuation could prove to be a sore spot

Pidilite Industries achieved 9.6% volume growth in Q1 FY25, benefiting from lower raw material costs. The stock hit a 52-week high, but high valuation limits further upside.

Business Line

Pidilite Industries profit up 21% on better margins

Revenue from operations was up 4 per cent at ₹3,395 crore

Business Line

Movers & Shakers: Stocks that will see action this week

Here is what the charts say about the shares of Cigniti Technologies, Kansai Nerolac Paints and Senco Gold

Mint

Indian cotton spinners to grow 6-8% in FY25 on volume, capex boost; Welspun Living, Nitin Spin lead gains

Welspun Living, Nitin Spinners, among other cotton stocks extended gains after ICRA raised the FY25 growth outlook for domestic cotton spinners.

The Economic Times

LG to focus on increasing localisation of commercial AC in India; sets up separate service entity

LG Electronics Inc is focusing on commercial air-conditioners in India, launching a new company for their service and maintenance, said a senior executive. Production of compressors has started locally with 50% localization, aiming to increase. LG plans to leverage India's manufacturing for exports and has set up six HVAC training academies

The Economic Times

Govt reopens PLI window for white goods

The Indian government has reopened applications for the PLI scheme for air conditioners and LED lights, allowing companies to invest more in manufacturing key components. With an outlay of ₹6,238 crores, the scheme, running from FY22 to FY29, aims to boost domestic production. Major firms like Voltas and Daikin are considering new investments.

Business Standard

Coforge acquires 11.07% stake in Cigniti Technologies

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Business Line

CCI approves Coforge’s majority stake buy in Cigniti Technologies

Also gives nod for Mitsui’s stake buy in Sneha Farms

The Economic Times

Equity mutual funds offer up to 31% return in first half of 2024

In 2024, the midcap category's top performers included ITI Mid Cap Fund, Motilal Oswal Midcap Fund, and ICICI Prudential Midcap Fund, delivering strong returns.

Business Line

Stock to buy today: Pidilite Industries (₹3,091)

Place initial stop-loss at ₹2,980