Monday, August 17
Mahindra & Mahindra on Friday announced a key leadership change in its human resources division, with Rohit Thakur set to take over as Group Chief Human Resources Officer from 2 April 2026, succeeding Ruzbeh Irani, who will retire after more than 19 years with the company. The move is part of the company’s structured succession plan, aimed at ensuring continuity in senior management leadership. Irani, who has been a pivotal figure on Mahindra’s Group Executive Board, will step down following his superannuation on 1 April 2026. The company expressed gratitude for his “exceptional contributions” during nearly two decades at the helm of HR strategy.Shares of Mahindra & Mahindra were trading at Rs 3,714.55 per scrip, down 9.60 points or 0.26% as of 9:35 am. Rohit Thakur: M&
Shares of Elecon Engineering Company tanked as much as 13.3% to their day’s low of Rs 435 on January 9 after the company reported a weak set of numbers for the third quarter of financial year 2026. The company, one of India’s largest industrial gear solutions providers, reported a 33% decline in its net profit to Rs 72 crore in the third quarter. In the same quarter last year, its net profit stood at Rs 108 crore. Revenue from operations clocked a marginal uptick of 4.3% to Rs 552 crore as against Rs 529 crore in the same period last year. The management said the muted increase was primarily due to delays in order inflows during H1 FY26, which consequently impacted execution and differed dispatch delivery schedule by customers. EBITDA margins also declined a staggering 717 basis points
Shares of Bansal Wire Industries Ltd. declined as much as 5.2% in early trade to their new 52-week low of Rs 286 on the BSE on Friday, January 9, with the expiry of the six-month and longer-tenure shareholder lock-in period for the stainless steel wire manufacturer.As many as 31.3 million shares, representing close to 20% of the company’s total outstanding equity, will become eligible for trading following the end of the lock-in, according to data compiled by Nuvama Alternative and Quantitative Research. The development is likely to be tracked closely by market participants.It is important to note that the expiry of a shareholder lock-in does not automatically translate into selling pressure in the open market. While the shares become free to trade, there is no obligation on shareholders
Consumer staple companies are expected to witness a gradual improvement in demand from the fourth quarter of FY26, supported by stabilising trade conditions after the GST reduction and multiple measures taken by the government, highlighted a report by Motilal Oswal.The report noted that with trade gradually stabilising following the GST reduction, demand for staple products is likely to pick up steadily in the coming months. This recovery is expected to be driven by resilient rural demand and improving sentiment in urban markets. It stated "Multiple measures have been initiated by the govt., and we expect steady improvement in demand from 4QFY26 onward".According to the report, several government initiatives have been rolled out, which are expected to aid consumption, leading to a steady i
Oil prices rose for a second day on Friday, set for their third weekly gain, on uncertainty about the future of supply from Venezuela and as Iranian unrest increases concerns about output there. Brent futures rose 44 cents, or 0.71%, to $62.43 per barrel at 0203 GMT, while U.S. West Texas Intermediate (WTI) crude gained 39 cents, or 0.68%, to $58.15. Both benchmark prices climbed more than 3% on Thursday, following two straight days of declines, and Brent is set to climb 2.7% for the week, while WTI has gained 1.4% for the week. Prices have gained following U.S. President Donald Trump's seizure of Venezuela President Nicolas Maduro last week and his claims the U.S. will control the South American country's oil sector. Civil unrest in major Middle Eastern producer Iran and c
