KICL, on the other hand, maintained its stance that Vaghul's letter was allegedly withheld by the Hiremaths with the intention of creating a false market in the securities of KICL and Hikal
Between March 2023 and June 2024, Hikal Limited's stock was in a consolidation phase, trading within a relatively narrow range of Rs 260 to Rs 320
Recently, Tata Steel experienced a significant decline, dropping nearly 22 points after forming a double top at the 180 level.
Between March 2023 and June 2024, Hikal has been consolidating within the approximate range of Rs 260-320
Stocks to watch on May 10, 2024: harat Petroleum Corporation reported a consolidated net profit of Rs 4,789.57 crore for the fourth quarter of FY 2023-24, marking a 30 per cent fall from Rs 6,870 cr
In his affidavit submitted in court, Baba Kalyani said that his sister's children were members of the Hiremath family by birth and are not affiliated with the Kalyani joint family
Shareholders of pharmaceuticals and crop protection firm Hikal Ltd have rejected a special resolution seeking continuation of Baba N Kalyani as a director of the firm after he attains 75 years of age on January 7, 2024, according to a regulatory filing by the company. The development comes at a time when Kalyani, the Chairman and Managing Director of Bharat Forge, is locked in a legal battle with his sister Sugandha Hiremath for the ownership of Hikal. The company had sought approval through a postal ballot from the shareholders to approve a special resolution for the continuation of directorship of Kalyani beyond the age of 75 years. However, as per the regulatory filing by Hikal, only 51.99 per cent of votes were polled in favour of the resolution and 48 per cent were against it. Being a special resolution, it needed 75 per cent of total votes in favour as per regulations. Hikal is in the midst of a battle between two promoter groups - the Hiremaths who own 34.84 per cent stak
Pharmaceuticals and crop protection firm Hikal on Sunday said it has appointed Berjis Minoo Desai and Ramachandra Kaundinya Vinnakota as additional directors to its Board. The appointments as independent directors extend for five-year terms, effective October 1, 2023, pending approval by the company's shareholders, Hikal Ltd said in a statement. "Their extraordinary expertise, diverse insights, and proven leadership will undoubtedly enrich our governance and bringing heft to our strategic decisions, fostering our continued growth," Hikal Founder and Executive Chairman Jai Hiremath stated.
Shares of Hikal were last trading at Rs 286, down 5.5 per cent over its previous close
The breadth of the market is bullish as more than 67 per cent of the stocks are trading above their 200 DMA, says Vinay Rajani of HDFC Securities
Pharmaceuticals and crop protection firm Hikal Ltd on Thursday refuted allegations by proxy advisory firm InGovern Research Services that the battle between its two promoters is impacting corporate performance. Hikal is in the midst of a battle between two promoter groups -- the Hiremaths who own 34.84 per cent stake and Baba N Kalyani (BNK)-led side that holds 34.01 per cent of the company. Minority shareholders own 31.15 per cent. InGovern in a note to shareholders had stated that in the absence of an agreement between the two warring promoter groups due the proportion of shareholding makes it difficult for any special resolution to be passed. It was also likely to slow down decision-making and resultantly, the interest of the company is likely to be compromised. In a detailed response to points raised by InGovern, Hikal said, "The document is a one-sided and an ill-informed attempt to damage the credibility of the company and its management and has been made with the intention of
Calls for change in management, board to protect minority shareholders' interest
BF Investment, Kalyani Investment contest their inclusion as parties in a suit filed by Hiremath family
Baba Kalyani's sister Sugandha, husband move court against the Bharat Forge promoter for full ownership of chemical company Hikal; Kalyani points to intervening agreements and statute of limitations
Hikal said it did not expect any financial implications arising due to compensation, penalty, etc, due to the suit
Zomato and Metro Brands may see an upside of up to 32 per cent, while JSW Energy, Kensai Nerolac, and Hikal could surge up to 11 per cent.
Smallcap World Fund Inc on Wednesday offloaded 25 lakh shares of life science firm Hikal Ltd for over Rs 62 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Smallcap World Fund sold 25,00,000 shares at an average price of Rs 249.02 apiece, valuing the transaction size at Rs 62.25 crore. As of March 2022, Smallcap World Fund owned a 3.47 per cent stake in the company. Shares of Hikal Ltd closed 2.39 per cent lower at Rs 249.25 apiece on BSE.
The inflationary pressures and a sharp rise in input costs of raw material, energy and solvents, the management expects industry growth to be tapered and margins to be contract in the current fiscal.
According to the technical analyst from Anand Rathi, JINDALSAW has seen a strong resurgence in the last two sessions backed by robust volumes indicating soaring demand at lower levels
The technical & derivative analyst from HDFC Securities expects weakness in Nifty to continue