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Business Standard
a day ago
- Business
- Business Standard
Rupee snaps four-day fall amid dip in oil prices; opens at 86.25/$
Indian Rupee today: The domestic currency opened 5 paise higher at 86.25 against the dollar on Tuesday SI Reporter Mumbai The Indian Rupee saw marginal gains at open, a day after falling to the lowest in one month, amid a decline in crude oil prices. The domestic currency opened 5 paise higher at 86.25 against the dollar on Tuesday, according to Bloomberg. The rupee has witnessed nearly 0.79 per cent depreciation in the current calendar year. The rupee touched a recent low of 86.3625 on Monday but is expected to open slightly stronger at 86.21 today, according to Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP. Key economic indicators such as Manufacturing and Services PMI will be closely tracked by market participants, according to Jateen Trivedi, VP research analyst - commodity and currency at LKP Securities. "The rupee is likely to continue moving within the broader range of 85.50-86.50." The currency fell for the fourth straight session on Monday due to sustained dollar demand from importers. Selling in equity markets also weighed on the currency. On Monday, FPIS sold equity worth ₹1,681.23 crore and has offloaded stocks worth ₹4,742 crore so far this month. Investors' focus will be on US Fed Chair Jerome Powell's speech today, along with money supply data. On the tariff front, the next round of formal negotiations between India and the US has been pushed beyond the August 1 deadline amid continued uncertainty over an interim trade deal. Uncertainty over the eventual state of tariffs globally has been a huge overhang for the forex market, analysts said. After falling for five straight months, the dollar index has recovered 1.5 per cent in July on strong economic data and less probability of an immediate rate cut. The measure of the greenback against a basket of six major currencies was up 0.06 per cent at 97.91. Meanwhile, oil prices fell as traders priced in little impact of European sanctions against Russia, while signs of a brewing US-EU trade conflict also weighed. Brent crude price was down 0.75 per cent at 68.69 per barrel, while WTI crude prices were lower by 0.76 per cent at 66.69, as of 9:10 AM IST.
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Business Standard
11-07-2025
- Business
- Business Standard
Anand Rathi Wealth gains 6% in trade after posting 28% rise in PAT in Q1
Anand Rathi Wealth share price gained 6 per cent on BSE, logging an intraday high at ₹2,250 per share after posting healthy Q1 numbers SI Reporter Mumbai Anand Rathi Wealth share price saw buying interest in the morning deals and gained 6 per cent in trade on Friday on BSE, logging an intraday high at ₹2,250 per share. At 10:27 AM, Anand Rathi Wealth shares were higher by 4.8 per cent at ₹2,224.5 per share on the BSE. In comparison, the BSE Sensex was down 0.52 per cent at 82,755.63. The company's market capitalisation stood at ₹18,467.94 crore. Anand Rathi Wealth Q1FY26 results The stock advanced after the company released its June quarter numbers on Thursday, after market hours. In Q1, the company's profit after tax (PAT) stood at ₹93.9 crore as compared to ₹73.4 crore a year ago, up 27.9 per cent year-on-year (Y-o-Y). Its revenue from operations stood at ₹274 crore, up 15.3 per cent, as compared to 237.6 crore a year ago. The asset under management (AUM) of the company stood at ₹87,797 crore as against ₹69,018 crore a year ago, up 27.2 per cent. According to the filing, the company's mutual fund distribution revenue increased by 27 per cent Y-o-Y to ₹113 crore and net inflows were highest ever in a quarter at ₹3,825 crore. What did Anand Rathi Wealth management say on Q1 performance? "We achieved our highest-ever quarterly net inflows of ₹ 3,825 crore and onboarded 598 new client families (net) in Q1 FY26, taking the total families served to 12,330. Client attrition, measured by AUM lost, remained at a low 0.11 per cent, underscoring the strength of our client-centric uncomplicated approach," said the company management. About Anand Rathi Wealth Limited Anand Rathi Wealth Limited is a wealth management firm, catering to high and ultra-high-net-worth individuals with a unique and differentiated client strategy. The company operates across 18 cities in India, has a representative office in Dubai, and is setting up new offices in London and Bahrain.
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Business Standard
09-07-2025
- Business
- Business Standard
Tolins Tyres shares climb 5% in trade; here;s what's boosting rally
Tolins Tyres share price climbed 5.2 per cent, logging an intraday high at ₹173.2 per share on Wednesday; check more details SI Reporter Mumbai Tolins Tyres share price climbed 5.2 per cent, logging an intraday high at ₹173.2 per share on Wednesday. At 12:25 PM, Tolins Tyres shares were up 3.52 per cent at ₹170.35 per share on the BSE. In comparison, the BSE Sensex was up 0.05 per cent at 83,754.94. The company's market capitalisation stood at ₹673.03 crore. Its 52-week high was at ₹259 per share and the 52-week low was at ₹108 per share. Why are Tolins Tyres rising in trade? The buying on the counter came after the company proposed to incorporate "Terra Rubber Private Ltd." as its subsidiary for a new line of business in the rubber industry. The board of directors of the company in their meeting held on July 8, 2025, approved investment in the proposed subsidiary. "We wish to inform you that the wholly owned subsidiary ('WOS') of the Company ('Tolins Tyres Limited) in the name and style of 'Terra Rubber Private Limited' is proposed to be incorporated. The Board of Directors of the company in their meeting held on July 8, 2025, has approved making an investment in proposed Wholly Owned subsidiary," the filing read. Terra Rubber Private Limited will have an authorised capital of ₹1,00,000 divided into 10,000 equity shares of ₹10 each and subscribed capital of ₹1,00,000 divided into 10,000 shares of ₹10 each. The purpose of the incorporation is to carry on the business of collection, segregation, processing, recycling, and disposal of used, scrap, or waste tyres, rubber products, and allied materials through mechanical, thermal, chemical, or other environmentally sustainable methods, and to establish, operate, and maintain facilities for such activities. Additionally, to manufacture, produce, process, develop, buy, sell, import, export, and otherwise deal in but not limited to reclaim rubber, crumb rubber, rubber powder, pyrolysis oil, carbon black, steel wire, and other by-products derived from tyre and rubber recycling and reprocessing. About Tolins Tyres Established in 1982, Tolins Tyres is a key player in the tyre industry, renowned for its wide-ranging portfolio that includes retreading solutions and tyres for two-wheelers, three-wheelers, light commercial vehicles (LCVs), and agricultural applications. The company is also at the forefront of innovation with its advanced Precured Tread Rubber and other retreading products, reflecting its commitment to technology and quality.
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Business Standard
19-06-2025
- Automotive
- Business Standard
Landmark Cars hits over four-month high; zooms 15% in subdued market
The stock price of the auto dealer company - Landmark Cars share price was trading at its highest since Jan 27, 2025, and has bounced back 84% from it's all-time low of ₹306.05 touched on Apr 7, 2025. SI Reporter Mumbai Landmark Cars share price today Shares of Landmark Cars hit an over four-month high at ₹564, as they zoomed 15 per cent on the BSE in Thursday's intra-day trade amid healthy volumes on expectations of an improvement in the business outlook. The stock price of this auto dealer company was trading at its highest level since January 27, 2025. It has bounced back 84 per cent from it's all-time low of ₹306.05, touched on April 7. The stock had hit a 52-week high of ₹ 746 on June 19, 2024 and a record high of ₹901.95 on February 7, 2024. At 11:29 AM; Landmark Cars was trading 7.5 per cent higher at ₹525, as compared to 0.06 per cent decline in the BSE Sensex. The average trading volumes at the counter jumped multiple-fold with a combined 2.3 million shares changing hands on the NSE and BSE. Landmark Cars made its stock market debut on December 23, 2022. The company raised ₹552 crore by allotting shares at issue price of ₹506 per share. Track LIVE Stock Market Updates At the start of financial year 2024-25 (FY25), the company had set out a goal of opening 24 new outlets. The company has successfully operationalised 23 of them, ahead of timelines and well within budgeted costs. Landmark Cars said it will operationalize the remaining outlet from June 2025. India remains a bright spot on the global map. Various ongoing Free Trade Agreements discussions are improving the prospects for auto business. With discussions around reducing import duties gaining traction, the Indian auto market could become even more attractive for global brands. As a multi-brand retailer aligned with leading international original equipment manufacturers (OEMs), Landmark is well poised to capitalize on these developments. Landmark is also a large partner for BYD as well as MG Motors, leaders in the EV space with clear price and product advantage. Rising EV adoption in India will clearly benefit Landmark in the times to come, the management said in the Q4FY25 earnings conference call. Meanwhile, global benchmarks show that leading auto retailers in the US and China hold between 1.5 per cent to 2 per cent market share in passenger vehicle (PV) space. Compared to this, India's current share in PV market is approximately 0.5 per cent by volume and a little more by value, indicating the significant long term growth potential that lies ahead. 'With stable macroeconomic backdrop and strategic initiatives, we are well poised to capitalize on the long-term growth opportunities and aspire to increase our market share in this growing market,' the management said. Analysts believe Landmark Cars should benefit from the addition of high-growth brands, new PV launches and continuation of the premiumization trend. Meanwhile, in another development, on May 17, Landmark Cars announced that it has received an in-principle approval from Kia India to take over an existing workshop in Hyderabad. With this workshop, Landmark Cars will be able to cater to the large car parcels of Kia in Hyderabad as well as increase its business from after Sales services to achieve long term growth trajectory, the company said. About Landmark Cars Landmark Cars is the leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen, Citroen, BYD, Renault, Mahindra & Mahindra, KIA and MG Motors. The company also caters to the commercial vehicle retail business of Ashok Leyland in India. The company has its presence across the automotive retail value chain, including sales of new vehicles, after-sales service and repairs, sales of pre-owned passenger vehicles and facilitation of the sales of third party financial and insurance products.
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Business Standard
17-06-2025
- Business
- Business Standard
Supreme Industries extends gain in weak market; stock rallies 10% in 3 days
Supreme Industries was trading higher for the third straight day, surging 10% during this period and quoted at its highest level since January 3, 2025. SI Reporter Mumbai Share price of Supreme Industries today Shares of Supreme Industries hit an over five-month high at ₹4,178.30, gaining 4 per cent on the BSE in Tuesday's intra-day trade in an otherwise weak market. In comparison, the BSE Sensex was down 0.4 per cent at 81,463 at 12:53 PM. The stock of the plastic products company was trading higher for the third straight day, surging 10 per cent during this period. It was quoting at its highest level since January 3, 2025. In the past one month, Supreme Industries has outperformed the market by soaring 28 per cent, as compared to 0.75 per cent decline in the BSE Sensex. It has bounced back 56 per cent from its 52-week low of ₹3,020 touched on April 7, 2025. Supreme Industries Outlook Looking ahead, Supreme Industries aims to sustain its strong revenue growth, improve margins and optimize capital utilization and continue focus on efficiency in working capital management. The management is confident of outpacing industry growth by 3-4 per cent in FY26, targeting a 12-13 per cent volume increase. Further supporting this outlook is Supreme Industries' recent acquisition of Wavin Pipes business from Orbia Corporation, which adds 73,000MT to its capacity and will help scale its total pipe capacity from 0.87mn MT to 1mn MT in FY26. The management expects FY26 EBITDA margin at 14.5-15.5 per cent, higher than 13.7 per cent in FY25 led by robust volumes and better realizations. Due to the evolving geo-economic situation, exports from India to Europe, the US & erstwhile USSR countries are expected to improve in coming years. During the financial year 2025-26 (FY26), Supreme is poised to achieve a significant volume growth by aligning sales efforts to capture such new opportunities. Further, volume growth will come from expansion of business in current markets, by introducing new products & capturing high value project orders. An ongoing process of product improvement & obtaining product conformity certificates to varied international standards will continue substantiating commitment of Supreme towards quality, the company said in its FY25 annual report. The overall demand forecast for Agriculture and Housing is encouraging. The Central Government has announced three-fold increase in capital provision in the budget for the year 2025-26 compared to amounts spent in the year 2024-25 year for augmenting drinking water supply, Supreme Industries said in its annual report dated May 22, 2025. Meanwhile, Supreme Industries installed additional capacities by volume, additional Systems and SKUs in the existing system in the previous year. This will enable the company to enjoy adequate growth in Plastics pipe System business in current year commensurate with its installed capacity. In other segments, the company expects better business growth during the current year in Protective Packaging Products, and Composite Cylinder business compared to last year. Catch Stock Market Updates Today LIVE Elara Capital view on Supreme Industries Supreme Industries reported significantly lower-than-expected volume growth in its plastic piping segment, missing its 15-16 per cent target for FY25 amid continued weak demand environment. Demand recovery is imperative to meet FY26 management guidance of low- teen volume growth. Although achieving this appears challenging, stable PVC prices may aid channel restocking and support better performance. About Supreme Industries Supreme Industries is one of the leading plastic products manufacturing companies in India having 30 manufacturing facilities spread across the country, offering a wide and comprehensive range of plastic products in India. The company operates in various product categories viz. Plastic Piping System, Cross Laminated Films & Products, Protective Packaging Products, Industrial Moulded Components, Moulded Furniture, Storage & Material Handling Products, Performance Packaging Films and Composite LPG Cylinders.
