News for Finolex Cables Limited (FINCABLES.BO)

Equity indices fall due to geopolitical uncertainty, while experts predict continued volatility; RBI policy and US-China talks in focus.

Sensex declined 106.01 pts or 0.13 per cent to 81,445.62 as at 12.36 pm, and Nifty 50 dipped 38.35 pts or 0.15 per cent to 24,787.85.

Polycab Limited announces a strong Q4 performance. The company's profit after tax rises to ₹727 crore. Revenue from operations increases by 25% to ₹6,985.7 crore. The board recommends a final dividend of ₹35 per share. Wires & Cables segment shows 22% growth. FMEG business delivers 33% growth. EPC segment surges by 47%. Shares rise following the positive results.

The NSE Nifty index closed 114.46 points up at 24461.15

The NSE Nifty index was trading 177.46 points up at 23835.8

Adani Group and Aditya Birla Group have recently entered the cables & wires (C&W) sector, traditionally dominated by smaller companies. Their entry may lead to increased competition and potential consolidation in the market. Domestic and global demand for C&W products remains strong, with the sector poised for steady growth driven by infrastructure and industrial expansion.

Adani Enterprises’ subsidiary, Kutch Copper, has incorporated a 50:50 joint venture company -- Praneetha Ecocables Ltd -- with Praneetha Ventures.

KEI share price: Shares of KEI Industries plunged 14.3% after Adani Enterprises announced its entry into the cables and wires sector via a JV with Praneetha Ventures. Rival stocks Polycab and Havells also fell up to 8.5% on competition fears. KEI, already under pressure, extended its YTD decline to 14%, while Adani Enterprises traded higher at **Rs 2,

They included names such as BEML Ltd, Cyient DLM Ltd, IRCON International, Mastek Ltd, Karnataka Bank Ltd, Titagarh Rail Systems Ltd and VIP Industries Ltd.

The shares of leading wires and cables manufacturers Polycab India, RR Kabel, KEI Industries, Havells India, and Finolex Cables plunged on Tuesday after Aditya Birla Group company UltraTech Cement announced its entry into the industry.

In the Nifty 50 index, 25 stocks ended in the green, while 25 stocks closed in the red in today's trade.

HCL Technologies, Bharat Electronics, LTI Mindtree, Siemens, and Sun TV Network are the top five companies with the largest estimated excess cash reserves, said the report. The IiAS assessment, drawn from FY24 financial statements, also accounts for acquisitions and announced capital expenditures after the balance sheet date.

Indian benchmark indices ended flat on December 26 as FMCG and bank corrections offset gains in auto and pharma. Analysts highlighted Niftys sideways movement below the 200 DMA, with short-term pressure and support at 23,700/23,600.

The Indian market closed flat on Tuesday, ahead of the Christmas holiday, with gains in FMCG and auto stocks being offset by losses in metal and power stocks. Analysts predict range-bound movement due to economic concerns, Q3 results, and the upcoming Union budget, amidst mixed global market performances.

Stock market holiday: On Friday, the 30-share BSE Sensex pack fell 67 points or 0.09 per cent to settle at 78,473, while the broader NSE Nifty index moved 26 points or 0.11 per cent down to close at 23,728.

As many as 15 stocks hit their 52-week lows today. BSE 500 stocks such as Prince Pipes and Fittings Ltd and Tata Technologies Ltd hit their respective one-year low levels. That said, 250 stocks touched their one-year high levels today.

Dish TV's board crisis intensifies as shareholders, owning nearly 96%, reject new appointments, resulting in 25 director ousters in three years. The situation highlights corporate governance issues amid promoter resistance, impacting company operations and shareholder value.

Punit Goenka, the former director of Zee Entertainment Enterprises, is not the only one who lost his board seat due to shareholders' activism last fortnight. In recent past, institutional shareholders of several companies, including Nestle and Wipro, have pushed back against board proposals by taking an aggressive stance while voting.

Indian markets closed higher on Thursday, led by technology stocks. Positive comments from the US Fed Chair and anticipation of a dovish RBI policy boosted sentiment. FIIs have also started buying Indian stocks.