logo
Elgi Equipments jumps after SBI MF hikes stake

Elgi Equipments jumps after SBI MF hikes stake

Elgi Equipments surged 5.95% to Rs 565.95 after SBI Mutual Fund acquired 18.12 lakh shares in a bulk deal on Tuesday, 8 July 2025.
The transaction, executed on the BSE at Rs 532 per share, represents a 0.57% stake in the company.
This fresh investment adds to SBI Small Cap Fund's existing holding of 3.22% in Elgi Equipments, as per the shareholding pattern disclosed for March 2025.
Elgi Equipments is a leading manufacturer of air compressors. On a consolidated basis, net profit of Elgi Equipments rose 33.79% to Rs 102 crore while net sales rose 14.66% to Rs 992.90 crore in Q4 March 2025 over Q4 March 2024.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Mazagon Dock Shipbuilders share price dips ahead of Q1 results today. Opportunity to buy?
Mazagon Dock Shipbuilders share price dips ahead of Q1 results today. Opportunity to buy?

Mint

time25 minutes ago

  • Mint

Mazagon Dock Shipbuilders share price dips ahead of Q1 results today. Opportunity to buy?

Mazagon Dock Shipbuilders share price slipped over 1% on Monday's session ahead of its Q1 results 2025 today. In its filing with the exchange, the company mentioned that its board of directors is set to convene on July 28, 2025 to review and approve the unaudited financial results for the quarter ending on 30 June 2025. Seema Srivastava, Senior Research Analyst at SMC Global Securities, said that Mazagon Dock Shipbuilders is likely to report positive quarterly numbers with a robust growth outlook, buoyed by strategic momentum in India's defence shipbuilding. Srivastava noted that the company recently initiated keel laying for its first Next Generation Offshore Patrol Vessel (NGOPV) for the Indian Coast Guard—highlighting its expanding technical capabilities with AI and drone integration, which is likely to support its earnings and margins. Also, earlier management projected mid single digit to low double digit revenue growth for FY26, alongside healthy profit before tax margins around 15% a signal of operational discipline and improved execution compared to FY25. After a challenging Q4 FY25 characterised by one off provisioning effects, Q1 is seen as a potential turning point for margin recovery and stabilisation, explained Seema. 'Investors will track order pipeline developments closely, particularly around submarine projects (P75 additional and P75I) and coastal patrol builds that support India's strategic maritime needs and forward margins,' added Srivastava. Mazagon Dock Shipbuilders experienced a 51% decline in consolidated net profit for Q4FY25, reporting ₹ 325 crore compared to ₹ 663 crore from the same period last year. In the same quarter, the company's revenue from operations reached ₹ 3,174 crore, reflecting a 2.3% increase from ₹ 3,103 crore reported in the previous year's corresponding quarter. The profit after tax (PAT) dropped 60% sequentially from ₹ 807 crore in Q3FY25, while revenue from operations saw a slight rise of 1% when compared to the ₹ 3,144 crore reported for the October-December quarter of FY25. Q4 expenses surged by 20% to ₹ 3,114.11 crore, up from ₹ 2,604 crore in the same quarter of the previous financial year. This also represented a 31% increase from the ₹ 2,367 crore registered in Q3FY25. The rise in expenses was attributed to several factors, including the cost of materials consumed, procurement of base and depot spares, finance costs, and employee benefit expenses. Mazagon Dock Shipbuilders share price today opened at ₹ 2,886.70 apiece on the BSE, the stock touched an intraday high of ₹ 2,907.80 apiece, and an intraday low of ₹ 2,844.10. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Mazagon Dock Shipbuilders share price has witnessed a sharp correction over the past two months, sliding from 3700 to 2900. The momentum remains weak unless clear bullish reversal signs emerge. The next crucial support lies near 2750, which aligns with the golden Fibonacci retracement level and the May swing low. Given the oversold conditions, some respite could be expected around these levels. On the upside, 3050 remains a stiff resistance, coinciding with the 89 EMA and 20 DEMA. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

Dhoni receives Rs 60000000, Abhishek Bachchan Rs 1900000 monthly from SBI due to..., Reason will amaze you!
Dhoni receives Rs 60000000, Abhishek Bachchan Rs 1900000 monthly from SBI due to..., Reason will amaze you!

India.com

time25 minutes ago

  • India.com

Dhoni receives Rs 60000000, Abhishek Bachchan Rs 1900000 monthly from SBI due to..., Reason will amaze you!

State Bank of India (SBI) is the largest government-owned and leading bank in the country, serving over 50 crore customers, with more than 50,000 employees and over 22,500 branches. People usually visit banks to take loans or to deposit money to save or earn interest. But the country's biggest bank pays cricketer MS Dhoni Rs 6 crore and actor Abhishek Bachchan Rs 18.5 lakh every month. You might be wondering why the bank pays these large sums of money to these two personalities. Even though Mahendra Singh Dhoni no longer plays cricket, he still enjoys immense popularity. Dhoni is a brand endorsement juggernaut, having received a hefty part of his earnings from his brand endorsements. There is a long list of companies that are utilizing Dhoni's brand image, and one of them is SBI. Since 2023, Dhoni has been an ambassador for India's largest bank, State Bank of India, and has been appearing in advertisements for SBI. SBI pays a hefty amount of money for brand endorsement. For endorsing State Bank of India (SBI)'s schemes, plans, and various banking facilities through advertisements, MS Dhoni receives an annual fee of ₹6 crores. MS Dhoni is the brand image of SBI and receives this fee for that purpose. Sharing a post, SBI's official Instagram account wrote, 'We are pleased to onboard MS Dhoni as Brand Ambassador of SBI. Mr. Dhoni's association with SBI as a satisfied customer makes him a perfect embodiment of our brand's ethos. With this partnership, we aim to reinforce our commitment to serving the nation and our customers with trust, integrity and unwavering dedication. – Mr Dinesh Khara, Chairman SBI.' The post was published on October 28, 2023. SBI also pays Abhishek Bachchan Rs 18.9 lakh every month. This is the amount the Bachchan family receives as rent because Abhishek has let out the ground floor of his opulent Juhu bungalow, Ammu and Vats, to SBI. The lease is for 15 years, and according to the lease, SBI pays the Bachchan family Rs 18.9 lakh every single month as rent. In fact, according the the report published on Abhishek makes this amount without any effort. The property, located near the Bachchan family's residence 'Jalsa,' spans 3,150 square feet. Essentially, Abhishek Bachchan makes almost ₹19 lakh, just for a ground-floor flat rental. The lease agreement was registered on September 28, 2021. The lease agreement spans 15 years and includes scheduled rent hikes over time: After 5 years, the monthly rent will increase to Rs 23.6 lakh. After 10 years, it will further rise to Rs 29.5 lakh.

CAT 2025 Notification: IIM Kozhikode to start registration from Aug 1; exam on November 30
CAT 2025 Notification: IIM Kozhikode to start registration from Aug 1; exam on November 30

Indian Express

time25 minutes ago

  • Indian Express

CAT 2025 Notification: IIM Kozhikode to start registration from Aug 1; exam on November 30

The Indian Institute of Management (IIM) Kozhikode will organise this year's Common Admission Test (CAT). The registration for CAT 2025 will start from August 1, and the exam will be held on Sunday, November 30. The notification was released in various national newspapers; however, the IIM Kozhikode will make the official website of the CAT 2025 live soon. The link for registration is This is the same website that was used in CAT 2024. The Common Admission Test (CAT) 2025 is scheduled to be conducted in three sessions through a computer-based test (CBT) format. An official notification detailing the exam and related guidelines will likely be published shortly on the CAT website. For this year, the registration fee has been set at Rs 1,300 for candidates belonging to SC, ST, and PwD categories, while all other applicants will need to pay Rs 2,600. The application process for CAT 2025 will commence on August 1 at 10 am and conclude on September 13 by 5 pm. Admit cards will be made available to candidates starting November 5, ahead of the exam scheduled for November 30. The results are tentatively expected in the first week of January 2026. This year, the examination will be conducted across approximately 170 cities, and candidates will have the opportunity to choose up to five preferred cities while selecting their test centres. –While applying for CAT 2025, candidates are required to upload scanned copies of their Class 10 and 12 mark sheets, along with either graduation certificates or their most recent semester results if they're currently in the final year. Applicants may also include work experience certificates, where relevant. Additionally, a valid photo ID and applicable category certificates for SC, ST, or PwD candidates need to be uploaded. –A recent passport-size photograph and signature are mandatory, and final-year students must also provide a certificate issued by their respective institution. CAT 2025 serves as an entrance gateway for admission to postgraduate as well as fellow/doctoral programmes offered by the Indian Institutes of Management (IIMs) and other participating institutions. However, it is important to note that CAT scores are just one component of the overall selection process. Candidates will be required to take part in additional evaluation stages, the specifics of which will be announced later on the respective institute websites. Last year, the Indian Institute of Management (IIM) Calcutta conducted the exam, wherein 14 candidates had scored 100 percentile, of which only one was a woman. Moreover, 13 aspirants were from an engineering background, while only one was a non-engineer. Of the 2.93 lakh candidates who appeared for the exam in 2024, 1.07 lakh were female candidates, 1.86 lakh were male candidates, and 5 were transgender candidates.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store