The promoters of VIP Industries have put their entire stake (51.74 percent) up for sale, which could trigger an open offer as per regulatory guidelines, the report added
A total of 19 stocks have declined over 20% thus far in the calendar year 2024, even as the Sensex and Nifty have rallied up to 14%; here are the key levels to watch out on these 6 stocks.
Radhika Piramal, VIP's London-based vice-chairperson and daughter of chairman Dilip Piramal, appear reluctant to continue running the business and may look to sell stake in the firm
Godrej Consumer's executive chairperson Nisaba Godrej has resigned as an independent director from the board of luggage and travel accessories maker VIP Industries, citing differences over leadership accountability and succession planning. The resignation of Godrej group scion as an independent director came on June 3, VIP Industries said in a stock exchange filing on Tuesday. Godrej in her resignation letter said: "Due to my differing view on leadership accountability and succession planning, I will be resigning from the Board effective June 3rd, 2024." The board of VIP Industries is led by Dilip Piramal as Chairman of the Rs 2,250-crore company. Nisaba Godrej was reappointed to the board of VIP Industries in April 2021 as an independent director and her term was ending on March 31, 2026. She attended all five meetings held in FY23 and has voluntarily waived off receipt of sitting fees for any meetings attended by her, said the annual report of the company. In her resignation le
Other major holdings in his portfolio encompass ITC (down 3%), VIP Industries (down 7%), Infosys (down 1.5%), Grindwell Norton (down 3.5%), Cummins India (down 13%)
Shares of VIP Industries have under-performed its benchmark NSE 250, with a fall of nearly 29 per cent as against a rally of 67 per cent in the last 18 months.
VIP Industries was trading 12.5 per cent higher at Rs 523.65, as compared to 0.8 per cent gain in the S&P BSE Sensex
Safari Industries hit a new high at Rs 4,373 and has rallied 25% in past 11 trading sessions.
Despite the recent downturn, the broader trend for the Nifty SmallCap index is likely to remain positive as long as the index holds above the 12,050-level.
Selective small-cap stocks may rally up to 25 per cent, as per their respective charts
Luggage maker VIP Industries Ltd on Monday reported a consolidated net loss of 4.26 crore for the fourth quarter ended March 2023, impacted by an exceptional loss. The company had posted a net profit of Rs 12.39 crore in the January-March quarter a year ago, VIP Industries Ltd (VIL) said in a BSE filing. However, its revenue from operations increased 26.6 per cent to Rs 450.57 crore during the quarter under review against Rs 355.90 crore in the year-ago period. During the quarter, VIL reported a loss of Rs 47.21 as an exception item. This was related to a loss of property, plant and equipment and inventories that were destroyed due to a major fire at a plant of the company's subsidiary in Bangladesh on January 31, 2023. VIL's profit before exceptional items stood at Rs 40.79 crore. This is "reflective of enhanced cost efficiencies across the value chain and strategic shift to in-house manufacturing coupled with softening trend on input costs," said VIL Managing Director Anindya ..
Travel/tourism-related stocks: Analysts suggest investors keep a selective 'buy on dips' strategy on the space entailing hotels, airlines, travel agents, ticket booking players, and luggage makers
Analysts expect that the travel sector is poised for a resurgence on the back of demand revival and increase in consumers confidence.
Both the stocks seem to have bottomed out after a decent correction and now indicate a trend reversal on the charts, says the technical analyst from Prabhudas Lilladher
The company's consolidated net profit stood at Rs 2.53 crore in Q1FY22 compared with net loss of Rs 51.32 crore in the year-ago period.
During the March quarter of the financial year 2020-21 (Q4FY21), Rakesh Jhunjhunwala offloaded a 0.26 percentage point stake, or 2.25 million shares, in Titan Company
RSI Indicator has given 'buy' signals on Biocon and VIP Industries' stocks
According to Axis Securities, the small and midcaps are picking up steam and they should deliver solid returns in 2021 as economic uncertainties will reduce and volatility will decline
The stock of Indian Hotels has recently bottomed out near 90 levels and has picked up momentum to improve the bias
Today, a total of 21 companies, including Dabur India, Sun Pharma, and United Spirits are scheduled to announce their results.