Latest news with #ApolloTyres
Economic Times
8 hours ago
- Business
- Economic Times
M&M Financial Services shares fall over 3% after mixed Q1 results
Shares of M&M Financial Services fell over 3% to Rs 257.3 on BSE on Wednesday, despite the company reporting a rise in net interest income (NII) and net profit for the June quarter. Investor sentiment remained muted due to elevated provisions and weaker collection efficiency. ADVERTISEMENT The company's NII rose 19.7% year-on-year (YoY) to Rs 2,267 crore and increased 5.4% sequentially. Net profit stood at Rs 530 crore, up 3.2% YoY, but down 6% from the March quarter. Profitability was dented by a sharp rise in provisions, which surged 44.3% quarter-on-quarter to Rs 660 crore, compared to Rs 457 crore in the March quarter. Pre-Provision Operating Profit (PPoP), however, rose 19.3% YoY to Rs 1,353 assets inched up, with Gross Stage 3 assets estimated at 3.8–3.9%, compared to 3.7% in the year-ago period. Collection efficiency declined to 95% in June, down from 97% in during the quarter rose 1% YoY, moderating from the 5% growth recorded in the same period last year. ADVERTISEMENT The company's Assets Under Management (AUM) grew 14.5% YoY to Rs 1.21 lakh crore. Also Read: Apollo Tyres, Brigade Enterprises among 10 small-cap stocks trading below industry PE; may rally up to 43% ADVERTISEMENT According to Trendlyne, the average analyst target price for M&M Financial Services stands at Rs 292, implying a 13% upside from current levels. Among the 33 analysts tracking the stock, the consensus rating is 'Hold'.Technically, the Relative Strength Index (RSI) is at 49.7, indicating neutral momentum. Meanwhile, the MACD stands at -0.3, below both the signal and center lines, signaling a strong bearish trend. ADVERTISEMENT The stock has declined 10% over the past year and is down 15% over the last two years. M&M Financial currently has a market capitalisation of Rs 36,076 crore. Also Read: 7 Nifty500 stocks with highest dividend yields. Do you own any? (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
10 hours ago
- Business
- Economic Times
Ideaforge shares slide 7% after weak Q1 performance, fourth straight quarterly loss
Ideaforge shares fell over 7% after the drone maker posted a weak Q1FY26, with a net loss of Rs 23.5 crore and an 85% YoY revenue drop. Despite a defence order win, analyst sentiment remains negative, with a 'Sell' rating and 24% downside target. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Ideaforge Technology slumped over 7% to Rs 506.2 on the BSE on Wednesday after the drone maker reported disappointing results for the April–June quarter of company posted a net loss of Rs 23.5 crore in Q1FY26, compared with a net profit of Rs 1.1 crore in the same period last year. Revenue from operations plunged 85% year-on-year to Rs 12.7 crore, down from Rs 86.2 crore in marks the fourth consecutive loss-making quarter for the total expenses fell 53% YoY to Rs 42 crore, the company reported a negative Ebitda of Rs 15.1 crore, compared with a positive EBITDA of Rs 8.5 crore in the year-ago period. However, the Q1FY26 EBITDA loss narrowed sequentially from Rs 17.4 crore in Read: Apollo Tyres, Brigade Enterprises among 10 small-cap stocks trading below industry PE; may rally up to 43% Despite the weak financials, CEO Ankit Mehta remains optimistic, citing a Rs 137 crore defence order secured under the Centre's fifth cycle of emergency procurement. The company expects this order to start reflecting in its revenue over the next 2–3 quarters.'The order followed rigorous technical evaluations and country-of-origin checks,' Mehta also pointed to the company's involvement in Operation Sindoor, where it demonstrated high-endurance drone capabilities. Mehta expects increased government focus on indigenous defence production to drive future said the government's allocation of Rs 40,000 crore for the sixth emergency procurement cycle and the proposed Rs 1 lakh crore R&D innovation fund could significantly benefit drone manufacturers. He also highlighted the expected rollout of the next phase of the PLI scheme as a major upcoming catalyst for the Read: 7 Nifty500 stocks with highest dividend yields. Do you own any? According to Trendlyne, the average analyst target price for Ideaforge stands at Rs 388, implying a 24% downside from current levels. Of the two analysts covering the stock, the consensus rating is 'Sell'.Shares of Ideaforge have fallen 18% year-to-date and are down 56% over the past two years. The company currently commands a market capitalisation of Rs 2,201 crore.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
2 days ago
- Business
- Economic Times
Oberoi Realty shares in focus after Q1 profit drops 28% YoY to Rs 421 crore; margins shrink
Oberoi Realty shares will be in focus on Tuesday after the company reported a 28% year-on-year decline in net profit to Rs 421.2 crore for the quarter ended 30 June 2025, down from Rs 585 crore in the same period last year. ADVERTISEMENT Revenue from operations fell 29.7% to Rs 987.5 crore from Rs 1,405 crore a year ago. Ebitda dropped 36% to Rs 520.4 crore, with margins narrowing to 52.7% from 58% in the year-ago period. Also Read:7 Nifty500 stocks with highest dividend yields. Do you own any? The company declared an interim dividend of Rs 2 per equity share for FY25-26, representing 20% of the face value of Rs 10. The record date is set as July 25, with payment expected on or before August Oberoi, Chairman and Managing Director, said, 'Demand for luxury homes remains strong, fuelled by rising aspirations and a growing desire for an enhanced lifestyle. We are pleased to report another healthy quarter, driven by the successful tower launch at Elysian, Oberoi Garden City, Goregaon.'He added that the company remains focused on developing vibrant communities through premium residential, retail, hospitality, and sustainable offerings. ADVERTISEMENT Also Read: Apollo Tyres, Brigade Enterprises among 10 small-cap stocks trading below industry PE; may rally up to 43% ADVERTISEMENT According to Trendlyne, the average target price for Oberoi Realty is Rs 1,906, implying a potential upside of nearly 4% from current levels. Of the 24 analysts covering the stock, the consensus rating remains 'Buy. 'So far in 2025, Oberoi Realty shares have declined 19%, though they remain up 74% over the past two years. The company's current market capitalisation stands at Rs 66,739 crore. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
The Hindu
6 days ago
- Business
- The Hindu
NGT directs Apollo Tyres to strictly enforce plastic waste management guidelines
The Southern Bench of the National Green Tribunal has directed Apollo Tyres Limited to strictly comply with plastic waste management regulations and extended producer responsibility (EPR) norms, following allegations of improper disposal of used plastic jumbo bags containing traces of carbon black. The order was issued while disposing of a petition filed by J. Parthiban of Tiruvallur, who alleged that the firm was discarding large HDPE jumbo bags used for transporting carbon black — an important tyre ingredient — into local markets. These bags, reportedly still containing carbon black residue, were being repurposed by the public for agricultural and domestic uses, such as storing cattle feed and roofing. He alleged that this led to potential health hazards and contamination, particularly during rainfall. Apollo Tyres denied any wrongdoing, contending carbon black is non-hazardous and that all empty bags are thoroughly cleaned and handed over to a registered recycler, M/s. Jeeva Enterprises. The company, which generated about 5,000 empty bags a month, said it had taken measures to prevent dust emissions and improper disposal. It added that due to supplier concerns, it had stopped reusing bags after 2022 and now ensured proper recycling through authorised channels. The Tamil Nadu Pollution Control Board (TNPCB) confirmed that the company held a valid Consent to Operate and followed zero liquid discharge practices. However, it had earlier advised the company to avoid selling used bags to scrap vendors and work only with authorised recyclers. Apollo Tyres also submitted that replacing the bags with silos or tankers at its Chennai plant was not feasible due to space and infrastructure limitations. However, the company proposed to cut and clean the bags before sending them to recyclers to prevent unauthorised reuse, even though it would increase operational costs. The Bench, led by Justice Pushpa Sathyanarayana and expert member Satyagopal Korlapati, concluded Apollo Tyres had not violated any environmental norms but directed the company to fully implement the guidelines issued by the Central Pollution Control Board and comply with its own undertaking.
&w=3840&q=100)
Business Standard
6 days ago
- Automotive
- Business Standard
Tyre stocks in demand: JK Tyre, Apollo rally up to 4%, MRF hits new high
Tyre companies' share price today Shares of tyre companies rallied up to 4 per cent on the BSE in Thursday's intraday trade, in an otherwise subdued market, on expectation of a healthy operational performance going forward. JK Tyre & Industries, Apollo Tyres, and Balkrishna Industries rallied 4 per cent each in the intraday trade. Ceat and TVS Srichakra shares, meanwhile, gained 2 per cent, while MRF share price hit an all-time high of ₹153,000 in the intraday trade today. In comparison, the BSE Sensex was down 0.24 per cent at 82,434 at 11:11 AM. In the past one month, these stocks have outperformed the market by gaining between 4 per cent and 13 per cent, as compared to a 1-per cent rise in the benchmark index. Tyre sector outlook in India International Natural Rubber (NR) prices have corrected in the last two months, and are currently trading at a discount to domestic NR prices. While crude prices have corrected to $65/barrel, crude derivate prices are yet to reflect this fall (expected to correct with a lag). Industry players expect the recent correction in the raw material basket to benefit favourably from the latter part of Q2FY26 (RM basket is expected to remain flattish during Q1FY26), said analysts at ICICI Securities in a company update. "RM outlook is flattish in Q1 and Q2 vs earlier expectation of benefit from Q2. Margin gains could accrue from second half of Q2 provided commodity prices soften further," according to analysts at Emkay Global Financial Services. In PCR (replacement) segment, Bridgestone leads with ~22 per cent share and premium pricing (index 100), followed by Apollo Tyres at ~17 per cent share (price ~85–86), and Ceat at 16 per cent share. In the consolidated TBR (truck, bus and radial tyres) market (MRF, Apollo, and JK are ~75 per cent of the market), Ceat holds ~10 per cent, the brokerage firm said. Meanwhile, looking ahead, Balkrishna Industries expects to sustain its growth trajectory through continued recovery in Off-Highway demand and the progressive rollout of Premium Passenger Car Radial (PCR) and Commercial Vehicles Radial (CVR) tires. "Financial projections indicate stable blended margins in the range of 23 per cent to 25 per cent, following full-scale commercialisation. With optimised capacity utilisation, a strong balance sheet and a net cash position," Balkrishna Industries in its FY25 annual report said that the company is well-equipped to scale in a responsible manner and strengthen its global market presence. Commercial vehicles growth will continue to be muted in FY26 as in the previous year. As per Society of Indian Automobile Manufacturers (SIAM) estimates, passenger vehicles are expected to grow in low single digits. Also, unless entry level vehicle sales pick up, volume growth will be difficult in this segment. Two wheelers should continue to grow based on demand pick up in the rural economy. Considering the good monsoon, tractor sales should continue to grow as in the previous year. Impact on tyre Industry would also be similar as outlined above, MRF said in its FY25 annual report. India's low reliance on external demand is expected to shield the country from trade and tariff uncertainties, on relative terms. A significant portion of MRF exports is in services which are not expected to be hit by tariffs. Concluding trade deals with various countries, supply chain realignments and moderation in commodity prices would be a positive for India's growth. India's service exports and foreign inward remittances will provide a cushion against trade volatilities, MRF said.
