News for Bayer CropScience Limited (BAYERCROP.NS)

The Indian market extended its losses on Friday, with all 13 major sectors closing in the red, as investors fretted about the impact of U.S. President Donald Trump's proposed reciprocal tariffs. Pharma stocks, heavily reliant on U.S. revenue, faced the sharpest declines.

Indian markets ended lower for the sixth session despite a late recovery, as concerns over U.S. tariffs, weak Q3 earnings, and Feds rate stance weighed on sentiment. Analysts anticipate continued consolidation amid valuation concerns and global economic uncertainty.

Bayer Cropscience Ltd.'s share price slumped on Wednesday as the company reported disappointing figures for third quarter. Net profit declined 63.3% on the year to Rs 34.2 crore versus Rs 93.1 crore. The company reported a decline in bottom line despite reporting a rise in revenue growth during October–December. Revenue rose 7.9% on the year to Rs 800.17 crore, compared to Rs 741.26 crore.

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Indian markets closed lower on Wednesday, dragged by banks and ahead of the US Fed rate decision. The market is cautious about potential policy changes in the US and India's high valuation. The rupee's weakness and a widening trade deficit are also concerns.

The markets on Wednesday extended the fourth consecutive day of declines driven by concerns over weak earnings and foreign fund outflows.

Indian indices ended flat amid profit booking in energy stocks. Analysts anticipate volatility as geopolitical tensions rise and support levels for Nifty are observed around 25,650-700.

Bayer CropScience Ltd. shares fell to over a month on Friday, making it the worst-performing stock in the Nifty 500 after its first-quarter profit declined and missed analysts' estimates. The company's net profit fell 22.8% year-on-year to Rs 254 crore in the quarter ended June 2024, according to an exchange filing. That compares to the Rs 390 crore consensus estimates provided by analysts polled by Bloomberg.

Bayer CropScience Ltd reports 22.6% drop in net profits for June quarter, despite optimistic outlook on future prospects.

According to Nagaraj Shetti of HDFC Securities the short-term trend of Nifty is down, but the near-term uptrend status of the market is intact. There is a possibility of some more weakness in the coming sessions down to 24,600-24,500 levels before showing any upside bounce from the lows. Immediate resistance is at 24,900 levels.

Domestic equity benchmark index Nifty50 closed at a record high for the fifth consecutive session on Thursday, surpassing the 25,000 milestone for the first time, following signals from the US Federal Reserve of a potential rate cut in September.

Indian markets saw another positive week with benchmark indices maintaining their winning streak. US markets hit fresh highs on Friday. MACD signals both bullish and bearish trends on different stocks. Market sentiment remains positive with more stocks ending in the green.

Indian benchmark equity indices ended lower on Friday, once again succumbing to profit booking after hitting all-time highs, although they locked in a third straight week of gains powered by a rally in financials and the return of foreign investors.

Indian equities closed negative. Nifty 50 at 22122.05 (-0.4%) and S&P BSE Sensex at 72790.13 (-0.5%). IT, metals, and pharmaceutical stocks faced selling pressure. US stocks edged higher; European equities edged lower. MACD showed bullish trade and bearish signs.

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"Nifty formed a bearish candle with a substantial body in the daily chart. The Donchian Channels, which identify bullish and bearish extremes, indicate that Nifty is holding its middle band. Key support levels are identified at 21,400, while resistance is placed at 21,700 levels," said Om Mehra, Technical Analyst, SAMCO Securities.

The 30-share BSE Sensex fell 156 points or 0.24 per cent to trade at 65,520, while the NSE Nifty was down 44 points or 0.23 per cent to trade at 19,631.

Stocks to watch: Check out the companies making headlines before the opening bell today, on November 16, 2023.

Based on the OI percentage, 83 stocks were on the short-covering list. These include Manappuram Finance, MRF, Indiabulls Housing Finance, Bosch, and Dalmia Bharat.