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In a bid to exploit the neighbouring overseas markets, <keyword id="1770014" type="COMPANY" weightage="20" keywordseo="Kansai-Nerolac-Paints-Limited">Kansai Nerolac Paints Limited</keyword> (<keyword id="1430790" type="UNKNOWN" weightage="20" keywordseo="Nerolac-Paints">Nerolac Paints</keyword>) has entered into a joint venture with <keyword id="2691857" type="UNKNOWN" weightage="20" keywordseo="Capital-Holdings-Maharaja-Pvt-Ltd">Capital Holdings Maharaja Pvt Ltd</keyword>, a subsidiary of <keyword id="6355572" type="COUNTRY" weightage="20" keywordseo="Sri-Lanka">Sri Lanka</keyword>’s based conglomerate <keyword id="2691171" type="UNKNOWN" weightage="20" keywordseo="Maharaja-Group">Maharaja Group</keyword>, to foray into the paint industry in Sri Lanka. The new joint venture is valued at 65 crore SLR (Sri Lanka rupees). 
 “Maharaja group was exploring to enter paints. Nerolac Paints seeks to take advantage of their strong presence in hardware outlets. KNP now intends to start a joint venture by incorporating a company. The equity contribution of KNP in this proposed JV would be 60% amounting to around 39 crores SLR (INR 18.4 Crores),” said the company in a letter to the <keyword id="53581" type="CITY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword>. 
 
It should be noted that Nerolac Paints wanted to invest in Sri Lanka due to the country’s progressive economy. On the other hand, Maharaja Group has presence across sectors in Sri Lanka that includes media, hardware, and FMCG products among others.

Nerolac Paint Forays In Sri Lanka, Enters Into JV Agreement With Maharaja Group

<ul><li>Cooling <keyword id="102132" type="General" weightage="20" keywordseo="crude-oil-prices" source="Orion">crude oil prices</keyword> could bring relief to governments, companies and common people alike across the world. </li><li>A fall in <keyword id="45185" type="General" weightage="20" keywordseo="crude-oil" source="Orion">crude oil</keyword> prices will not only help governments focus on growth instead of inflation, it will ease bottomline pressures on companies and reduce cost of living for the common man. </li><li>For investors, too, this could bring much needed cheer at a time when <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> has corrected over 8% this year so far. </li></ul>Crude oil prices are sliding back after peaking crossing the $125 barrel mark in March. This could bring some much-needed relief to companies across sectors. It could also help reduce prices of commodities and food products, and help contain the growing inflation. Brent crude, the type of crude oil that is imported by India, fell below $100 per barrel for the first time in nearly three months. However, the current cool down is due to fears of recession and fall in demands thereafter, so governments could have a bigger problem on their hands soon. That said, falling crude oil prices are expected to benefit sectors like paints, petrochemicals, textiles, aviation, tyres, and cement. It is worth noting that the benefits from a fall in crude oil prices will take time to reflect in the bottom lines of companies. However, stock markets tend to price in these movements a lot faster. This is evident from the move in metal stocks – for example, the Nifty Metals index <a href="https://www.businessinsider.in/stock-market/news/indian-metal-shares-surge-as-demand-hopes-build-after-chinas-220-billion-stimulus-plan/articleshow/92726640.cms">rose sharply</a> by 4% after China announced its $220 billion infrastructure stimulus programme. <cmsannotation type="cmsannotation" annotationid="These companies could benefit from a fall in crude oil prices" comment="subhead" text="These companies could benefit from a fall in crude oil prices">These companies could benefit from a fall in crude oil prices</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Aviation" comment="subhead" text="Aviation">Aviation</cmsannotation> Aviation industry is amongst the worst affected by rising crude oil prices, as aviation turbine fuel is the single biggest cost driver for airline companies. Jet fuel prices have been hiked from ₹72,000 per kilolitre to ₹1,23,000 – a hike of ₹51,000 since the beginning of 2022. Amongst listed airlines, InterGlobe Aviation and <keyword id="6358032" type="General" weightage="80" keywordseo="spicejet" source="Orion">SpiceJet</keyword> are the two biggest names, and Jet Airways will join them soon this quarter. <cmsannotation type="cmsannotation" annotationid="Paints" comment="subhead" text="Paints">Paints</cmsannotation> Manufacturing paint requires over 300 inputs – most of which are petroleum-based. The paint industry was already suffering from subdued demand post the Covid lockdowns, and the surge in crude oil prices has proved to be a double whammy. Asian Paints, Berger Paints, and Kansai Nerolac Paints are some of the biggest paint companies in India. <cmsannotation type="cmsannotation" annotationid="Petrochemicals" comment="subhead" text="Petrochemicals">Petrochemicals</cmsannotation> Crude oil prices and petrochemicals are intricately linked. According to a McKinsey report, a 50% oil price drop can result in a 50% decline in raw material spend at the beginning of a value chain and 20% at the end of it. Some of the prominent names here include <keyword id="6355199" type="General" weightage="80" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword>, Indian Oil, GAIL, Rain Industries, Pidilite, Castrol, among others. In the specialty chemicals sector, there are companies like Aarti Industries, Atul, and Alkyl Amines. <cmsannotation type="cmsannotation" annotationid="Textiles" comment="subhead" text="Textiles">Textiles</cmsannotation> Synthetic textile manufacturers are also one of the key beneficiaries of falling crude oil prices, since crude oil is an important component of industrial inputs like fibre, yarn, fabric and other textile products. Some of the biggest names in the synthetic textile industry include Welspun India, Filatex India, and Indo Rama Synthetics, among others. <cmsannotation type="cmsannotation" annotationid="Tyres" comment="subhead" text="Tyres">Tyres</cmsannotation> Tyres are another product which depend heavily on crude oil, comprising nearly 60% of the cost of production of a tyre. Some of the biggest tyre manufacturers include MRF, Apollo Tyres, JK Tyre and CEAT. <cmsannotation type="cmsannotation" annotationid="Cement" comment="subhead" text="Cement">Cement</cmsannotation> Record low home loan interest rates and the post-pandemic burst in demand had pushed the realty sector towards recovery, but the cement industry’s margins were eaten away by rising crude oil prices. A cool off in crude oil prices could bring some cheer to the sector, as 60% of their business is linked to crude oil prices. Some of the biggest cement makers in India include <keyword id="6355596" type="General" weightage="80" keywordseo="ultratech-cement" source="Orion">UltraTech Cement</keyword>, <keyword id="105382" type="General" weightage="80" keywordseo="ambuja-cements" source="Orion">Ambuja Cements</keyword>, Shree Cement, and ACC, among others. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/indian-metal-shares-surge-as-demand-hopes-build-after-chinas-220-billion-stimulus-plan/articleshow/92726640.cms">Indian metal shares surge as demand hopes build after China’s $220 billion stimulus plan</a> <a href="https://www.businessinsider.in/stock-market/news/gone-with-the-windfall-tax-ongc-loses-a-fifth-of-its-market-value/articleshow/92721451.cms">Gone with the windfall tax: ONGC loses a fifth of its market value</a> <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-reportedly-transferred-nearly-8-billion-to-its-parent-company-in-china/articleshow/92726095.cms">Vivo reportedly transferred nearly $8 billion to its parent company in China</a>

Cooling crude oil prices – companies in these sectors could benefit the most

The <keyword id="6358301" type="COMPANY" weightage="100" keywordseo="Monsoon">monsoon</keyword> season, experienced every year, inevitably damages both the exteriors and interiors of homes and apartments, leaving the walls drab and shabby to the dismay of the home owners. The colour of the walls accentuates the look of a house. 
 We asked the experts at <keyword id="355029" type="COMPANY" weightage="100" keywordseo="Kansai-Nerolac">Kansai Nerolac</keyword> Paints for some tips on keeping the houses monsoon ready and this is what they had to offer: 
 
Reasons for damage 
 
The primary reason for damage to the interior wall is the inferior quality paint used on the exterior of the property. Concrete allows water and moisture to seep in, which ultimately gets collected within the wall. This leads to a build-up and creates damp patches along the interior wall surface. 
 
Further, the wall paint may start to peel or develop blisters. In the longer run, this tends to become a breeding ground for algae and fungus. The choice of exterior paint is crucial as it protects the external wall by preventing rain water and moisture from entering the concrete. It should be well-equipped to fight the vagaries of the weather. 
 
How to be monsoon safe 
 
Before painting 
· Any plastering, repairing and waterproofing should be done before painting. All structural cracks must be open in V-shape filled with white cement/cement-based plasters and any leakage should be stopped before painting. 
· Before undertaking any interior painting, have your walls scanned with a moisture meter to detect if there is any moisture left behind on the walls. 
· Remove all hardware from doors and windows, loosen lighting fixtures or mask them with tape or paper. 
· Dust walls thoroughly with a dry mop. Use roller, brush or spray gun to paint large surfaces. 
· Choose paints which are ‘lead free’ and ‘low’ or ‘zero VOC’ as it will ensure the well-being of your loved ones and will also help you use the rooms while they are being painted. 
 
While painting 
· Before applying the first coat, all the wall surfaces should be evened with a quality primer/putty. 
· For best results, apply 2-3 coats of paints, rather than one thick coat. 
 
Maintenance tips 
· Wash walls with a soft sponge and mild detergent twice a year for best results. For distempered walls, minimum pressure should be applied while cleaning. 
· If any dampness is observed, check for the source and rectify it immediately to prevent flaking and peeling of paint. 
· Remove stains and dust from a painted surface with a clean white cloth or sponge dipped in mild detergent. After cleaning, wash away all traces of detergent and wipe dry. 
· Never use water for spot cleaning unless the wall is totally free from extraneous dust. 
 
Mr Anuj Jain, Director, Sales and Marketing (decorative), Kansai Nerolac Paints, went on to share that years of research in Japan and India has led to the introduction of Nerolac Excel – a premium exterior emulsion by Kansai Nerolac Paints equipped with unique weather defence formula. This Japanese technology keeps your walls looking as good as new through high humidity, torrential rain and scorching heat. 
 
For exterior walls, Nerolac Excel’s weather defence formula acts as an anti-UV agent, deflecting the harshness of the sun. It also forms an outer membrane that repels water before it can permeate down to the inner layers. 
 
For the interior walls, Nerolac Impressions Eco-Clean works the best as it is a No-VOC paint, and is devoid of the strong odour that most paints emit. It is also anti-fungal and bacteria resistant, making it an ideal option for the monsoons. Other qualities include washability, excellent sheen and best-in-class visco-elastic properties. 
 
We also asked Mr Jain about the cost of painting a 200 square yard house. As per his estimates, the cost of painting a 200 square yard house would be Rs 7500 (the cost of material) plus Rs 7000-8000 (labour, miscellaneous expenses), if we go for Nerolac Excel. However, for Excel Total, the cost of material would shoot up to Rs 9800. 
 
Image courtesy: Thinkstock

Make Your Home Monsoon Proof

<ul><li>India’s <keyword id="10622896" type="UNKNOWN" weightage="20" keywordseo="fifth-largest-paint-maker">fifth largest paint maker</keyword>, backed by US-based venture capital firm Sequoia, will start its initial public offering (IPO) today, January 20.</li><li>The price band for the IPO has been set at ₹1480-1490 per share.</li><li>The bids can be made for a minimum of 10 equity shares, and in multiples of 10 thereafter. </li><li>The shares commanded a premium of ₹800-810 in the grey market, over above the set IPO price band. </li></ul>The ₹1,000 crore IPO of Sequoia Capital-backed <keyword id="3903861" type="PERSON" weightage="20" keywordseo="Indigo-Paints">Indigo Paints</keyword> will be open for public subscription from today (January 20). The issue from India’s fifth largest paint maker has garnered a strong response in the grey market ahead of its IPO — the shares were commanding a premium of ₹800-810 over the set price band of ₹1480 - ₹1490 per share. However, the grey market is not an official measure of the market premium. But it is a fair indicator of demand for the shares in the market. Analysts reports that have given a ‘subscribe’ rating for the IPO indicate that the demand, so far, is well justified because the Pune-based paint maker has given tight competition to much larger peers like Asian Paints and Berger Paints in recent years. Indigo Paints is a relatively small player with a 2% market share but its profit has grown significantly, nearly four times in the last three years. Streets View: <keyword id="10263001" type="UNKNOWN" weightage="20" keywordseo="indigo-paints-ipo">Indigo Paints IPO</keyword> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elara Capital </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Capital Market </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IIFL Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Anand Rathi </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> All you need to know about Indigo Paints IPO: <ul><li>The issue will remain open for subscription until January 22, making it the second IPO of 2021, after <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms">IRFC</a>. </li><li>The price band for the IPO has been set at ₹1480-1490 per share.</li><li>The bids can be made for a minimum of 10 equity shares and in multiples of 10, thereafter. </li><li>The proceeds of the issue will be used for expansion of the existing manufacturing facility at Pudukkottai in Tamil Nadu, purchase of tinting machines and gyro shakers, and repayment/prepayment of borrowings. </li></ul>Attractive valuation, healthy financials, robust growth and much more — here’s what analysts have to say about the IPO Discounted valuation Analysts believe that the IPO is attractively priced and can offer a good investment opportunity for the investors. The team at the brokerage firm, Anand Rathi, has highlighted that the company is reasonably valued at current valuation compared to the larger peers. At the upper end of the IPO price band, Indigo Paints is offered at 98.5 times its earnings, as compared to its other listed peers like Asian Paints, Berger Paints and Kansai Nerolac. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">P/E ratio </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">113.78x </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Berger Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">128.23x </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kansai Nerolac </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">84.09x </td></tr></tbody></table>*Source: Anand Rathi report The price to earnings ratio is the financial ratio that helps determine a stock's market value compared to the company’s earnings. The P/E ratio shows what the market is willing to pay for a stock based on its earnings. “We believe that due to the lower valuations as compared to its peers, Indigo Paints is placed at an attractive valuation. Further with the planned expansion, lowering debt and other cost control measures, we are also confident that the company will maintain the growth levels which is mirroring the pricing of the IPO,” said the report. Healthy financial position Indigo Paints’ revenue and profitability have consistently improved over the last few years. HDFC Securities, in its IPO report, noted that the company has ‘smartly executed its revenue ramp-up’ and that reflects in the company’s improving fundamentals. <div type="image" title="Indigo Paints (1)" msid="80358585" hostid="261"></div> The company’s revenue from operations has grown at a compound annual growth rate (CAGR) of 41.9% between financial years 2010 and 2019, compared to the range of 12.1% to 13.1% recorded by the top four paint companies in India. The sector is poised to grow, and its listed peers are proof of that Indigo Paints is from the sector that is poised to grow over the coming years, despite all the challenges that may take over the world. According to the ICICI Securities report, the Indian paint industry is valued at ₹54500 crore, and it is expected to grow at 12% CAGR in the next five years. <div type="image" title="Paint market share (1)" msid="80358597" hostid="261"></div> The decorative paint segment, which constitutes 74% of total paint sales, is likely to grow at CAGR 13% backed by shortening repainting cycle, rising urbanisation and aspiration level of middle-class households in India. The report highlighted that government schemes like Pradhan Mantri Awas Yojana, smart city development, Real Estate development and others might play out in its growth in the near future. The gains in other listed Indian paint stocks are proof of safety that investors have found in the sector. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock price change since March 31, 2020 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">59% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Berger Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">59% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Akzo Nobel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">45% </td></tr></tbody></table> Here are some of the risk factors you may want to consider before investing in Indigo paints. <ul><li>Although the paint industry is deemed to grow, what remains challenging is the cut-throat competition in the industry. </li><li>Paint companies have been one of the biggest beneficiaries of benign raw material prices resulting in significant gross margin expansion. According to ICICI Direct report, any significant upward movement in crude prices from the current level possesses a substantial risk at gross margin.</li><li>A significant portion of sales for the company are derived from Kerala, and any adverse developments in this market could adversely affect the business.</li><li>According to HDFC Securities, the company does not have long-term agreements with its suppliers for raw materials, and an inability to procure the desired quality, quantity of its raw materials in a timely manner and at reasonable costs may have a material adverse effect on its business. </li></ul>SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/meet-the-20-indian-americans-nominated-in-biden-harris-cabinet/slidelist/80348318.cms" data-type="tilCustomLink">Meet the 20 Indian-Americans nominated in Biden-Harris cabinet</a><a href="https://www.businessinsider.in/thelife/personalities/news/meet-the-20-indian-americans-nominated-in-biden-harris-cabinet/slidelist/80348318.cms" data-type="tilCustomLink"></a> <a href="https://www.businessinsider.in/stock-market/news/exclusive-nilesh-shah-of-kotak-mahindra-amc-says-foreign-inflows-profit-growth-are-helping-sensex/articleshow/80339362.cms" data-type="tilCustomLink">One of India's biggest money managers explained ‘the mother of all bull runs’ using Amitabh Bachchan-starrer Amar, Akbar, Anthony</a><a href="https://www.businessinsider.in/stock-market/news/exclusive-nilesh-shah-of-kotak-mahindra-amc-says-foreign-inflows-profit-growth-are-helping-sensex/articleshow/80339362.cms" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/stock-market/news/exclusive-nilesh-shah-of-kotak-mahindra-amc-says-foreign-inflows-profit-growth-are-helping-sensex/articleshow/80339362.cms" data-type="tilCustomLink"></a>

Indigo Paints’ ₹1,000 crore IPO is a hit even before it opened⁠ for subscription— here’s why

<ul><li>Shares of most paint makers have fallen in the last five days after one of the leading players, Asian Paints, reported a slowdown in profit on concerns over rising raw material prices.</li><li>Moreover, the market leader expects the increase in raw material prices to persist for some more time, which will eventually impact profits.</li><li>Raw material prices have been pushed up due to the high crude oil prices</li></ul>More than the excitement for anticipated demand during Diwali, an Indian festival, paint manufacturers are worried about the rising raw material prices hitting their profitability. The concern over rising costs elevated after one of the leading players, Asian Paints, reported a fall in profit due to high raw material prices, which is further expected to remain high for some time. Raw material prices have been pushed up due to the high crude oil prices. Note that half of the material used by paint companies are crude oil derivatives. Asian Paints reported a decline in net profit to ₹595 crore in September, below analysts’ expectations. "Steep inflation seen in raw material prices, since the beginning of this calendar year, has been phenomenal and has impacted gross margins across all businesses in the quarter," said Amit Syngle, managing director and chief executive of Asian Paints in a statement to an exchange on October 21. The commentary on rising cost inflation hit shares of other paint makers fearing slowdown in profitability in the near term. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Paint manufacturers </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Returns in 5 days </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Berger Paints </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-14% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-10% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kansai Nerolac </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-10% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Pidilite Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-9% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shalimar Paints </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Indigo Paints </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-3% </td></tr></tbody><tbody></tbody></table> “Higher input prices will keep margins of the paint companies in the near term,” said a report by broking house Sharekhan. Adding to it, global chip shortage could impact supply of tinting machines which are key for paint dealers. The chip shortage could <a href="https://www.livemint.com/market/mark-to-market/paint-manufacturers-may-face-disruption-from-chip-shortage-11632765366605.html">reportedly</a> impact the supply of tinting machines and the expansion plans of paint companies. These machines help shops create different shades of paints within the store, in line with the requirement of customers. Dealers who use tinting machines do not have to hold large amounts of shades in stock. “We expect delays in (the supply of) tinting machines to remain for a few quarters for most paint companies. We expect less impact on top two companies, Asian Paints and Berger Paints, as they already have a high tinting machine penetration compared to smaller peers," said analysts at Edelweiss Securities, <a href="https://www.livemint.com/market/mark-to-market/paint-manufacturers-may-face-disruption-from-chip-shortage-11632765366605.html">reportedly</a>. With steep inflation in input costs weighing on profitability, paint companies may announce further price hikes and pass on the burden to consumers. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-lost-subscribers-for-the-first-time-in-10-quarters-but-theres-good-news-for-mukesh-ambani-in-this-too/articleshow/87251614.cms">Reliance Jio lost subscribers for the first time in 10 quarters but there's good news for Mukesh Ambani in this too</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/bad-loans-at-icici-bank-have-never-been-this-low-in-the-last-seven-years/articleshow/87250046.cms">Bad loans at ICICI Bank have never been this low in the last seven years</a>

Paint makers stress over high raw material costs and fewer tinting machines even as festive demand picks up

New Delhi, Apr 28 () Leading paint makers such as Kansai Nerolac Paints, AkzoNobel India and Berger Paints have come forward to extend financial help to painters, who are passing through a rough phase during the ongoing lockdown.The companies are providing financial aid to their painting contractors, most of whom are daily wagers and an important part of their business ecosystem, through crowd-funded endowment fund to direct cash transfer in their accounts.Kansai Nerolac Paints said it has announced to set up a crowd-funded endowment fund for its community of painters in association with India's largest and most trusted donation platform 'Give India'.The amount collected through this platform will be used to provide financial aid of up to Rs 7,000 each to those painters suffering from Coronavirus. Nerolac will also make a contribution of Rs 5,00,000 to set up the fund."The support and commitment of our painter community has helped us attain success through the years. The COVID-19 pandemic has impacted the lives of millions of daily-wage earners, including painters, bringing many under severe financial stress," Kansai Nerolac Paints Executive Director Anuj Jain said in a statement.He further said, "Through our association with a renowned platform such as 'Give India', we would like to urge citizens to contribute as much as they can for the safeguard of painter community. The amount collected will be used for the care of painters affected by this virus."Last month, Kansai Nerolac Paints Ltd had also announced an early disbursement of funds to its painter community falling under the Nerolac Premium Painter Pragati (NPP Pragati) Programme wherein over 30,000 painters benefited from the initiative, the company said.Meanwhile, AkzoNobel India has also announced to extend support to over 12,000 painters in the wake of COVID-19 outbreak by providing an out of turn pay-out through the annual loyalty programme – Colour Guru.As part of this initiative, direct online transfers are being made to the bank accounts of over 12,000 painting contractors."Painting contractors are a significant part of our ecosystem and their livelihood has been impacted by the pandemic. This early disbursement of funds is aimed at placing cash in the hands of painting contractors so that they are able to fulfil their essential needs and cater to any emergency during the extended lockdown period in India," said AkzoNobel India Managing Director Rajiv Rajgopal.Berger Paints India, which is helping its painting contractors associated with the company through financial assistance, has already started the process of transferring money directly into their bank account."The money would help these families in getting daily essentials and to cater to any emergency in a time when their incomes have taken a hit as all painting activities have come to a screeching halt with the lockdown in place," the company said.The company intends to cover more than 20,000 contractors across India with this activity, the company had said in a statement on April 13."The painting contractors have always been an integral part of the larger Berger Family and we feel humbled that we are in a position to support them in this hour of need. A lot of contractors have sent Whatsapp video messages to us appreciating the gesture. It's an overwhelming feeling," Berger Paints MD and CEO Abhijit Roy had said.Another firm, Asian Paints had committed Rs 35 crore towards COVID-19 Relief Fund, contributing to the central government as well as emergency relief funds operated by the state governments to combat COVID-19."As a socially responsible company, Asian Paints is committed to providing necessary support towards various relief measures announced by the government..." said Asian Paints Managing Director and CEO K B S Anand.According to Care Ratings, the Indian paint industry is estimated to be Rs 50,000 crore industry. Indian paint sector is broadly classified into two main segments - decorative and industrial.The decorative segment accounts for the majority of the industry's value which is around 75 per cent and the industrial segment accounts for the rest 25 per cent."Till FY17, organised players had a market share of about 65 per cent. However, post GST application, the organised players are recapturing market from unorganised players with share of organised players increasing to about 80 per cent now," it said.The top players in the organised sector are Asian Paints Limited, Kansai Nerolac Paints, Berger Paints India and AkzoNobel India -- which together account for about 68 per cent of the market share, it added.India is presently going through an extended lockdown period till May 3 as the government tries to curb the spread of coronavirus pandemic. COVID-19 has so far taken 937 lives in the country and infected a total of 29,974 people, according to the latest data by the Union Health ministry. KRH RKL MKJ

Lockdown: Paint industry comes forward to help painters during pandemic

Sector giant Asian Paints led its peers higher in morning trade as crude oil prices continued to remain muted at their 3-month lows. 
 
Paint companies use several crude oil intermediates as raw materials for their final product. Therefore, a drop in crude oil prices results in higher margins for paint companies. 
 
Asian Paints gained 3.4% to Rs 809.70. Shalimar Paints surged 4.6% to Rs 133. Kansai Nerolac rose 3.7% at Rs 240 and Berger Paints was up 2.9% at Rs 213. 
 
(Image credit: Indiatimes)

Paint stocks get a dash of green on crude oil prices

<ul><li>Benchmark index <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> crossed the 62,000 points mark for the first time since December last year. </li><li>Tata Motors, L&amp;T, Asian Paints were amongst the top gainers in morning trade on Tuesday. </li><li>Overall, financial services, auto and FMCG stocks, helped Sensex begin FY24 on a positive note with gains of 3.52% in the last one month. </li><li>Robust buying by foreign institutional investors (FII) in April and May till date have also aided the rally in Sensex and <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>. </li></ul>India’s benchmark index Sensex crossed the 62,000 points mark for the first time since December last year, led by gains in Tata Motors, L&amp;T and Asian Paints, among others. Overall, financial services, auto and FMCG stocks, helped Sensex begin FY24 on a positive note with gains of 3.52% in the last one month. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.90% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.29% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.78% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharma </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.25% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.54% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.78% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.34% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.38% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.21% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.29% </td></tr></tbody></table> Source: BSE, as on May 9, 2023 Amongst the top gainers in the last one month are Bajaj Finance, Nestle India, Kotak Mahindra Bank, Tata Motors and ITC, with 1 month returns ranging between 11% to 15%. Robust buying by foreign institutional investors (FII) in April and May till date have aided the rally in Sensex and Nifty. While FIIs bought equities worth ₹5,712 crore in April, their buying in May stands at ₹7,652 crore till date. “There are three prominent factors which are driving the ongoing rally in the market: One, better-than-expected strength of the US economy and the increasing confidence that the US will succeed in avoiding a bad recession. Two, strong buying by FIIs who have been continuous buyers during the last eight trading days. Three, fundamental support to the rally from macro indicators such as robust GST collections, improving PMI, high fuel consumption and good credit growth,” said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. However, the current rally might not last for long, according to analysts. “These positives along with a rising rupee can sustain the rally and take the market higher. But the valuation comfort which was there at the beginning of this rally a month ago is no longer there. This can cap the upside to the market even though the momentum is currently with the bulls,” Vijayakumar added. Gold prices edged up to ₹60,900 per 10 grams while silver stood at ₹77,100 per kilogram. Crude oil prices gained as well, with Brent crude prices hovering at $76.8 per barrel. <cmsannotation type="cmsannotation" annotationid="Global cues mixed" comment="subhead" text="Global cues mixed">Global cues mixed</cmsannotation> Cues in global markets were mixed, with investors focusing on the US banking sector. While Dow Jones closed 0.17% lower, S&amp;P 500 ended on a flat note. The tech-heavy Nasdaq, on the other hand, gained 0.18%. Asian markets were also similarly mixed, with Taiwan Weighted remaining flat. Nikkei 225 was up 0.77%, while Shanghai Composite gained 0.36%. On the other hand, Hang Seng was down 0.4% while KOSPI fell 0.5%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="146847" type="General" weightage="20" keywordseo="mankind-pharma" source="Orion">Mankind Pharma</keyword>: Shares of the condom maker’s ₹4,362 crore IPO will debut on exchanges today. The grey market premium of the company’s stock stood at ₹100 indicating a strong listing gain. <keyword id="6358032" type="General" weightage="80" keywordseo="spicejet" source="Orion">SpiceJet</keyword>: The low cost carrier has received a notice from the National Company Law Tribunal (NCLT) as the Ireland based company Aircastle is looking to begin insolvency proceedings against it. PNB Housing Finance: Punjab National Bank has infused ₹498 crore in the rights issue of PNB Housing Finance. <keyword id="333824" type="General" weightage="80" keywordseo="upl" source="Orion">UPL</keyword>: Agriculture solutions provider UPL reported 42% decline in net profit at ₹792 crore for March quarter from ₹1,379 crore last year. Meanwhile, revenue grew 4% to ₹16,569 crore from ₹15,861 crore last year. Kansai Nerolac: The company’s board has approved bonus issue in the ratio 1:2. With this, the authorised share capital will increase from ₹66.5 crore to ₹85 crore. Earnings today: Lupin, Nazara Technologies, Reliance Infrastructure, Matrimony.com, Apollo Tyres, Birla Corporation, Castrol India, Chalet Hotels, Nuvoco Vistas Corporation, Eveready Industries India, Godrej Agrovet, SRF and Westlife Foodworld among companies to release their March quarter earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/fy23-scorecard-tvs-motor-fares-better-than-bajaj-auto-hero-motocorp-on-profits-and-margins/articleshow/100082560.cms">FY23 Scorecard: TVS Motor fares better than Bajaj Auto, Hero MotoCorp on profits and margins</a> <a href="https://www.businessinsider.in/stock-market/news/rail-vikas-nigam-marks-a-strong-journey-in-2023-share-price-of-68-to-140/slidelist/100069014.cms">From ₹68 to ₹140, this multibagger stock marks a strong journey in 2023</a>

Sensex crosses 62,000 mark for the first time since December; Tata Motors, L&T amongst top gainers

<ul><li>As the entire country continues to be locked in their homes, mother earth is healing herself -- right from greener pastures to clearer skies and reduced pollution. </li><li>To mark <keyword id="18996" type="ORGANIZATION" weightage="20" keywordseo="World-Environment-Day">World Environment Day</keyword>, a few brands took cognizance of this and urged every citizen to imbibe these learnings, reflect upon their actions and as we brace ourselves for the lockdown being lifted, emerge as more conscious beings with focus on a sustainable future. </li></ul>Civilisation today is staring at what can only be called the biggest human challenge. This pandemic has left us thinking, wondering and questioning about all that we have done in the past. The environment is one such area where enough human effort may not be sufficient to reverse the damage caused so far, but a little conscious effort every day, collectively may promise our future generations a safer planet to inhabit, a lot safer than the one we call our home today. Like every year, a few brands have come forward to remind its consumers and fellow companies that sustainability should be prioritised at every household and workplace. Here are a few campaigns that caught our attention: <keyword id="64202" type="ORGANIZATION" weightage="20" keywordseo="United-Nations-Environment-Programme">United Nations Environment Programme</keyword> UNEP (United Nations Environment Programme) under its global theme – ‘Super Year For Nature &amp; Biodiversity’ released a campaign with MoEFCC (<a href="https://www.youtube.com/channel/UCCl94zd6YfuUrv9DJz_5RcA">Ministry of Environment, Forest and Climate Change</a>) conceptualized by Ogilvy. The campaign brought to light the dwindling population of endangered species in India namely, Snow Leopard, Gangetic River Dolphin &amp; Great Indian Bustard. <div type="image" title="Ogilvy_Time-for-nature_Leopard" msid="76217012" hostid="261"></div> Kansai Nerolac Paints Kansai Nerolac Paints digital film extends the thought of Nerolac’s recently launched brand campaign #AajCarefulTohKalColourful and is the third film in the continuing series. Through the digital film, Nerolac aims to raise awareness on the importance of environment conservation for a brighter and colourful tomorrow. Its ‘Aaj Careful Toh Kal Colourful’ with an intent to underline the importance of taking necessary precautions in the current Covid-19 situation to ensure a colourful future. The new thought-provoking film encourages citizens to take positive actions for the betterment of the environment and showcases how people can do their bit by taking small steps such as switching off fans/lights when not in use, conserving water, planting trees, contributing to cleaner air in minimal ways and more. <div type="Youtube" id="aNElLheBep4" title="Stand together for the Environment- Aaj Careful Toh Kal Colourful" thumbUrl="https://i.ytimg.com/vi/aNElLheBep4/mqdefault.jpg"></div> ITC ITC pledged once again to help shape a better, secure, sustainable and inclusive future for the generations to come with a powerful campaign. <div type="Youtube" id="rrSlLqBLPa0" title="ITC - World Environment Day 2020" thumbUrl="https://i.ytimg.com/vi/rrSlLqBLPa0/mqdefault.jpg"></div> Welspun Welspun Group launched a song titled ‘Ek Soch Hai Jaagi’ in collaboration with Kailash Kher to commemorate the World Environment Day. It aims to encourage people to introspect on their role in shaping the environment and steer them to build a better tomorrow. It also celebrates the metamorphosis of nature as it recuperates and replenishes during the lockdown. <div type="Youtube" id="74sbc3RYzzE" title="Ek Soch Hai Jaagi Official Song | Kailash Kher | Welspun Group" thumbUrl="https://i.ytimg.com/vi/74sbc3RYzzE/mqdefault.jpg"></div> Tata Tiscon Tata Tiscon tried to spread the message of building a strong planet through Tata Tiscon Go Green, the brand’s sustainability initiative. ‘Plant for the Planet’, is a digital film conceptualised by Wunderman Thompson South Asia that was released on World Environment day to encourage people to care for and nurture the environment. <div type="Youtube" id="JOppVCz_vws" title="'Plant for the Planet’ for Tata Tiscon Go Green on World Environment Day" thumbUrl="https://i.ytimg.com/vi/JOppVCz_vws/mqdefault.jpg"></div>

World Environment Day: Brands urge consumers to come out of the lockdown as conscious beings and continue following sustainable practices

Chandigarh, Dec 6 () Punjab Chief Minister Amarinder Singh has urged Japanese Ambassador to India Satoshi Suzuki to impress upon companies in his country to invest in upcoming mega industrial parks at Rajpura and Bathinda.
 The Japanese envoy called on Amarinder Singh after attending the Progressive Punjab Investors Summit 2019 on Thursday, a state government release said.
 Being located in the vicinity Mohali, Rajpura offers basic infrastructure in terms of road and air connectivity, with prestigious educational institutes, the chief minister said.
 He also mentioned that Rajpura thermal plant would cater to the power requirements of companies intending to set up units in the industrial park.
 Suzuki appreciated the congenial investment atmoshpere in the state and assured the chief minister that several Japanese companies would look at making investments in the state, the release said.
 He also invited Amarinder to visit Japan for exploring investment opportunities for the state.
 Suzuki requested the chief minister to depute a dedicated officer to liaison with the Japan External Trade Organisation (JETRO) for setting up industries, forging technical alliances and collaborations with Japanese companies.
 Vini Mahajan, Additional Chief Secretary, Industries and Investment Promotion apprised Suzuki that several renowned Japanese companies like Aiche, Isuzu, Yanmar and Kansai have already collaborated with Vardhman Group, Swaraj Mazda Limited, Sonalika and Nerolac paints, respectively.
 Japan's strong base in the state and the conducive atmosphere provided by the government would act as a catalyst to bring in huge investments from Japan, she said. CHS RVK

Punjab CM meets Japanese ambassador, seeks investment in state

Stocks ended lower on the markets today as traders took advantage of the early morning uptick to book profit in leading blue chips. 
 The <keyword id="6484188" type="CITY" weightage="80" keywordseo="Sensex">Sensex</keyword> closed 35 points lower at 28,171 after hitting an intra-day high of 28,330 in the first 10 minutes of trade. Vedanta, NTPC and Hero Motor Co were the top losers. 
 The <keyword id="6354813" type="COMPANY" weightage="80" keywordseo="nifty">Nifty</keyword>, meanwhile, ended at at 8,510, losing 11 points over its previous close. HCL Tech, Vedanta and NTPC were the top losers on the Index where the Advance-Decline Ratio was 1:2. The only saving grace was that the Nifty closed above the crucial 8,500-point level. 
 
Among the other indices showing a smart uptrend were the CNX Banking index and the CNX Mid Cap index. Traders were particularly bullish on public sector banking stocks: Punjab National Bank, Indian Overseas Bank and Bank of Baroda were the top gainers in the futures and options space. 
 
L&amp;T Finance Holdings surged more than 9 percent after the Economic Times reported American Private Equity Investor Warburg Pincus was in talks to pick up a 25 percent stake in the non banking finance company, which lends mainly to the real estate and the commercial vehicles space. 
 
Companies which use Crude Oil intermediates as their raw material inputs saw their stock prices react positively to a fall in crude oil price to 3-month lows. Asian Paints, Berger Paints, Kansai Nerolac and Akzo Nobel showed strong traction. Ditto for tyre companies such as TVS Srichakra, Apollo Tyres, J K Tyres, Ceat and MRF. 
 
Tea stocks were in favour after tea auction prices gained ground in Kolkata following news of drought in key producer Kenya. McLeod Russell, Jayshree Tea, Rossell Tea shone brightly in trade today. 
 
(Image credit: Indiatimes)

Top 7 things that
happened at the markets today

<ul><li>As the number of Covid-19 cases keep going up in India, various brands and business tycoons have come ahead to donate to help the government in its drive to control the spread of the virus.</li><li>While many companies have created funds to contribute to the PM Cares Fund, a lot of other brands are contributing by donating sanitizers, masks and even food, to help those in the need.</li></ul>The world, as we knew it even till a month back, has changed. With the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword> outbreak, our country, along with many other countries across the world has announced complete lockdown. The effects of this pandemic, both on the economy, and on human life, will be massive. At the time of writing this report, the number of positive cases in India crossed 1,050, and the death toll stands at 29. And the number is growing with each passing day. While governments across the globe are working tirelessly to come up with ways of minimizing the impact of this pandemic, we have seen many brands come forward, and contribute in different ways, to help out in these trying times. Since we are seeing a lot of brands come up with many initiatives almost every day, we will keep updating this space with the latest happenings. Tata Group: <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>, Chairman <keyword id="6383155" type="COMPANY" weightage="20" keywordseo="Tata-Trusts">Tata Trusts</keyword> and Chairman Emeritus Tata Sons, pledged Rs 500 crore to protect and empower all affected communities. The money will be spent on personal protective equipment for medical personnel, respiratory systems for treating increasing cases, testing kits to increase per capita testing, setting up modular treatment facilities for infected patients and knowledge management and training of health workers and the general public. <div type="twitter" handle="RNTata2000" handlename="Ratan N. Tata" image="http://pbs.twimg.com/profile_images/1189494401359208448/AwbXHtpn_normal.jpg" favoritecount="199569" retweetcount="59205" status="The COVID 19 crisis is one of the toughest challenges we will face as a race. The Tata Trusts and the Tata group co… https://t.co/GQ6H6sSFcF" createdat="1585392484000" id="1243852348637605888"></div> Mahindra Group: <keyword id="46425" type="PERSON" weightage="20" keywordseo="Anand-Mahindra">Anand Mahindra</keyword>, Chairman, Mahindra Group said he will donate 100% of his salary to create a fund to help small businesses and self-employed people who are expected to be impacted the most due to the outbreak. He also urged our businesses to also set aside contributions for those who are the hardest hit in their ecosystem. <div type="twitter" handle="anandmahindra" handlename="anand mahindra" image="http://pbs.twimg.com/profile_images/1053583782584807425/-7IRmY5u_normal.jpg" favoritecount="48372" retweetcount="13478" status="Going by various reports from epidemiologists, it is highly likely that India is already in Stage 3 of transmission… https://t.co/hBSwnUb9Vp" createdat="1584860752000" id="1241622104778268672"></div> ITC: ITC is setting up a Contingency Fund of Rs 150 crore to address and manage the challenges arising out of the Covid-19 outbreak. The fund will be utilised primarily to provide relief to the vulnerable and most needy sections of society who have been harshly impacted by the pandemic and have faced significant disruption in their livelihoods. Additionally, the fund will collaborate with District Authorities to provide assistance to the district health and rural healthcare eco-system that reaches out to the weakest sections of society. Furthermore, the brand added that the resources under this fund could also be channelised towards the protection and well-being of the ground forces doing commendable work to reach medicines, groceries, other essential goods, sourcing of agri-commodities and so on for people across the country during the lockdown, by providing protective personal gear and hygiene products to such frontline warriors. Reckitt Benckiser: Reckitt Benckiser has launched the RB Fight for Access Fund to improve access to health, hygiene and nutrition for all. As part of this fund, an additional £32 million has been mobilized to address the urgent collective fight against the spread of Covid-19 by breaking the chain of this fast-spreading infection. In India, the brand will be distributing 10 million units of Dettol Soap to the most vulnerable. RB will also be donating 1 million litres of its disinfectant products including Lizol disinfectant liquid and Harpic toilet cleaners to aid India’s states in fighting this crisis especially in public health institutions and at the frontline with health and sanitation workers. It will donate critical protection equipment, 3.5 million N95 masks with a focus on pharmacists and health care workers. These will be distributed across their major markets. Dettol is also partnering with Bollywood actress, Madhur Dixit to release an engaging public service announcement #ApniSurkashaApneHaath to encourage viewers to practice handwashing. Godrej Group: The Godrej Group announced that it is earmarking a fund of Rs 50 crore for community support and relief initiatives in India. This is an initial outlay and the corporate said that it hopes to supplement it over time. It has been buying and supplying medical equipment and protective supplies for the Brihanmumbai Municipal Corporation (BMC). As a part of the initiative, the group has donated Rs 5 crore to the BMC, donated 115 hospital beds to Maharashtra government hospitals and helped set up a 75-bed quarantine center at the Seven Hills Hospital. Moreover, it has supported the free distribution of 1 million packets of Godrej Protekt Mr. Magic powder-to-liquid hand wash in Maharashtra through partnership with the BMC and Thane Municipal Corporation (TMC), partnered with communities linked to their CSR programmes to support 1.12 lakh beneficiaries across 8 states with hand wash, sanitisers and soap, donated sanitisers to the Mumbai police force, begun ramping up capacity to meet the demand for soap, hand wash and sanitisers and initiated outreach through various networks and hand wash education programmes. Reliance Group: <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> has pledged to donate Rs 5 crore to Maharashtra Chief Minister’s Relief Fund. Led by Nita, Ambani Reliance Foundation has promised to provide a free meal to needy people across the country. Additionally, Ambani has also donated a hospital for the patients battling with infection of Covid-19 and will set up a dedicated 100-bed centre at Seven Hills Hospital in Mumbai, along with a fully-equipped isolation facility in Lodhivali, Maharashtra. Paytm: Paytm said that it is aiming to contribute ₹500 crore to the PM CARES Fund. For every contribution, or any other payment done by consumers on Paytm, the online payment app said it will contribute an extra up to ₹10. <div type="twitter" handle="Paytm" handlename="Paytm" image="http://pbs.twimg.com/profile_images/1242803598083395585/4cWZptzw_normal.jpg" favoritecount="9431" retweetcount="2966" status="Paytm is aiming to contribute ₹500 Crore to the PM CARES Fund. For every contribution, or any other payment done… https://t.co/JrSAJTnO1J" createdat="1585411759000" id="1243933194556248064"></div> PhonePe: PhonePe has launched a #100CrorePledge, urging 10 crore Indian citizens to donate to the PMCARES Fund to show their solidarity in fighting the menace of COVID-19. PhonePe has pledged to contribute Rs 10 for every Indian who donates even Rs 1 to the PMCARES Fund via the PhonePe App using UPI by April 30, 2020. In total, PhonePe has pledged to contribute a maximum of up to Rs 100 crore. <div type="twitter" handle="PhonePe_" handlename="PhonePe" image="http://pbs.twimg.com/profile_images/1228394203421372416/4X3QZazb_normal.jpg" favoritecount="834" retweetcount="306" status="Join our #100CrorePledge &amp; donate to the PMCARES FUND using contactless UPI payments. Remember no contribution is t… https://t.co/b6Z4yD3rMh" createdat="1585405072000" id="1243905146087542785"></div> Zomato: Along with announcing measures to help its partner restaurants, delivery staff, and other daily wage workers in India who are currently income-starved due to the lockdown, Zomato set up ‘Feeding India’, a fund to support families of the daily wage workers in India in the absence of employment opportunities. Known as ‘Feeding India’, the initiative has successfully received more than Rs 6 crore in funds. <div type="twitter" handle="deepigoyal" handlename="Deepinder Goyal" image="http://pbs.twimg.com/profile_images/980757579360972800/TWg-KSki_normal.jpg" favoritecount="1727" retweetcount="1399" status="Please help by donating to 'Feed the Daily Wager' by Zomato Feeding India (@FeedingIndia) and provide food support… https://t.co/8vQRliTLtM" createdat="1585054814000" id="1242436058748317697"></div> Parle: Parle, makers of the much loved Parle-G biscuits announced that it is joining hands with the government to give away 3 crore packets of Parle-G to people in need over the next 3 weeks. The brand made the announcement after PM Narendra Modi made an announcement of the country’s lockdown to prevent the spread of the virus. <div type="javascript" title="Instagram" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> Diageo: Diageo India, the liquor firm that sells McDowell’s whisky and Smirnoff vodka, will produce 3 lakh litres of hand sanitizers to help overcome its shortage in the country due to the Covid-19 outbreak. A stock exchange filing by the company stated that 15 of the liquor firm’s manufacturing units are being repurposed to manufacture hand sanitisers and donation of extra neutral alcohol (ENA). Kansai Nerolac: Kansai Nerolac Paints has announced that it will do an early disbursement of funds to its painter community falling under the Nerolac Premium Painter Pragati (NPP Pragati) Programme. Over 30,000 painters can benefit from Nerolac’s initiative, upto Rs 36,000 approximately. Mankind Pharma: Mankind Pharma has pledged to donate Rs 51 crore to CM Relief fund to manage the outbreak. The brand will be donating ventilators, Personal protective equipment (PPE) and medicines to the states reporting maximum number of positive cases. Mankind Pharma will be working closely with the Governments of Kerala, Maharashtra, UP, Uttrakhand, Bihar, Tamil Nadu, Karnataka, AP, Telangana, Delhi, Haryana, HP, Madhya Pradesh, Rajasthan, Gujarat, Punjab, West Bengal J&amp;K and Orrisa.

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