Latest news with #GrasimIndustriesLtd
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Business Standard
04-07-2025
- Business
- Business Standard
Rupee bond rush set to ease as RBI signals limited scope for rate cuts
Aggressive liquidity infusions and a series of rate cuts this year, most recently a surprise 50 basis point cut to 5.5 per cent in June, pushed yields to the lowest in three years Bloomberg India's busy local-currency rupee bond market is poised to slow after the country's central bank hinted room for further rate cuts could be limited. Aggressive liquidity infusions and a series of rate cuts this year, most recently a surprise 50 basis point cut to 5.5 per cent in June, pushed yields to the lowest in three years and spurred a flurry of issuance as borrowers sought to lock in lower rates. As a result, Indian companies raised a record ₹6.6 trillion ($77.1 billion) through local-currency notes in the first half of the year, up 29 per cent from the year prior, according to data compiled by Bloomberg. 'Issuance will remain fairly strong, but the pace will not be as frenetic as before,' said Shameek Ray, executive vice president at ICICI Securities Primary Dealership Ltd., pointing to limited room for borrowing costs to fall further. Yields on Indian debt have since started to climb. After touching the lowest since 2022 on June 6, average yields on top-rated three-year company notes have risen 13 basis points, as of Wednesday. Still, the recent increases have only pared the drop in financing costs this year. Monetary policy emerged as the key driver for corporate debt sales in India this year as falling rates lured conglomerates to the market. Grasim Industries Ltd. secured its lowest-cost onshore note since 2020 and the ports unit of Adani Group raised a record sum from the domestic bond market. Jio Credit Ltd., a shadow lender owned by tycoon Mukesh Ambani, sold its first-ever bond. 'Inquiries from companies about bond fundraisings have increased,' said Jigar Vaishnav, director at Tipsons Group. 'Abundant liquidity and cheaper borrowing costs have also prompted many companies to borrow locally rather than tapping offshore. It has been a very busy time on the desk.' Still, global uncertainties and weaker capital spending due to slower economic growth could hurt corporate bond sales in the second half of the year, said Aditi Mittal, director at A.K. Capital Services Ltd., the third biggest rupee bond banker this year.
Mint
20-06-2025
- Business
- Mint
Chart Beat: Indian paint industry revenues drop for the first time in two decades. Rebound ahead?
Revenues of the Indian paint industry declined by 2% year-on-year in FY25, marking the first drop in two decades, showed data sourced from ICICI Securities Ltd. The decline is especially concerning as the the industry grew even during the covid pandemic. A number of headwinds were responsible for the industry's feeble growth in FY25, including a general widespread slowdown in consumption and increased competition from the entry of Birla Opus. In its March quarter (Q4FY25) earnings call, Grasim Industries Ltd's management said the company's organised decorative paints presence ended the quarter with a more than 10% revenue market share, as per its internal estimates, if the revenues of Birla Opus and Birla White Putty were combined. Also read: Intense competition hurts paint companies' profitability; more pain in the offing Weak pricing growing also hurt the industry's growth last year as there were negligible price hikes coupled with higher trade schemes and offers. Consumer downtrading and urban demand slowdown were other challanges the industry faced last year. Where do we go from here? 'The creation of favourable base results in strong growth for the paint industry in the following two years. This pattern was visible in FY16-19 (two weak years followed by two strong years) as well as in FY20-23 (two weak years followed by two strong years)," said ICICI Securities' analysts in a report on 20 June. The broking firm defines a weak year as industry revenue growth of less than 5% and strong year as higher than 12% growth. 'Considering there was weak revenue growth in FY24 and FY25, we believe the industry is ripe for revival in revenue growth in FY26-27," it added. Also read | We are in the business of beautification, not just paint: Birla Opus Paints' Inderpreet Singh While that is encouraging, the recovery could well be gradual as demand challenges persist. Since paint demand is discretionary, consumers may well postpone their purchases. The early onset of monsoons this year means prospects for the first half of FY26 don't appear bright. Together, these factors could test the patience of investors in paint stocks. Shares of India's largest decorative paints company Asian Paints Ltd are down about 22% over the past year. In the near-term, all eyes will be on the pace of the recovery in the second half of FY26. Also read: Analysts and investors have soured on Asian Paints. Can it prove them wrong?
Business Standard
10-06-2025
- Business
- Business Standard
Volumes soar at AU Small Finance Bank Ltd counter
AU Small Finance Bank Ltd saw volume of 104.69 lakh shares by 10:46 IST on BSE, a 51.1 fold spurt over two-week average daily volume of 2.05 lakh shares Grasim Industries Ltd, Jindal Saw Ltd, Coforge Ltd, Sun TV Network Ltd are among the other stocks to see a surge in volumes on BSE today, 10 June 2025. AU Small Finance Bank Ltd saw volume of 104.69 lakh shares by 10:46 IST on BSE, a 51.1 fold spurt over two-week average daily volume of 2.05 lakh shares. The stock increased 0.28% to Rs.774.00. Volumes stood at 11.46 lakh shares in the last session. Grasim Industries Ltd clocked volume of 1.18 lakh shares by 10:46 IST on BSE, a 15 times surge over two-week average daily volume of 7864 shares. The stock gained 3.95% to Rs.2,711.60. Volumes stood at 11799 shares in the last session. Jindal Saw Ltd clocked volume of 15.45 lakh shares by 10:46 IST on BSE, a 9.1 times surge over two-week average daily volume of 1.70 lakh shares. The stock gained 9.36% to Rs.253.60. Volumes stood at 6.7 lakh shares in the last session. Coforge Ltd notched up volume of 1.67 lakh shares by 10:46 IST on BSE, a 4.5 fold spurt over two-week average daily volume of 37186 shares. The stock rose 3.35% to Rs.1,853.55. Volumes stood at 30090 shares in the last session. Sun TV Network Ltd recorded volume of 25343 shares by 10:46 IST on BSE, a 3.53 times surge over two-week average daily volume of 7184 shares. The stock gained 1.04% to Rs.632.00. Volumes stood at 8114 shares in the last session.
