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Sandeep Parekh says: "The market fall was not caused by the old circular on FPI ownership norms. It is more about transparency and knowing the investors behind large investments. The circular does not restrict investments and has sufficient flexibility. It only affects a small number of FPIs. The time period given to lower holdings is more than sufficient. The transparency norm is not an entry barrier for new participants."

​Battery maker Exide Industries Ltd on Wednesday reported 2.3 per cent increase in consolidated profit after tax at Rs 202.69 crore for the third quarter ended December 31, 2023.

Anil Rai Gupta, CMD of Havells India, discusses the challenges faced by the company and the outlook for growth. The consumer demand has been sluggish, especially in the B2C segment, but there are signs of revival in the second half of the quarter. The company expects a good summer season due to high inventory and is prepared with distribution and advertising campaigns. The demand is shaping up well in tier two and tier three cities, and premium products are performing better.

The company is expected to report consolidated revenue of Rs 33,676-35,477 crore, according to estimates given by three brokerage firms. This is compared to a revenue of Rs 34,102 crore a year ago and Rs 34,184 crore a quarter ago.

​The initial public offer (IPO) of Epack Durables picked up pace on Wednesday, the second day of the bidding process with the overall subscription at 8.77 times.

​Continuing her December quarter buying spree, ace investor Dolly Khanna added multibagger Savera Industries to her portfolio while raising her stake in Control Print.

JM has picked Waree Renewable Technologies, Insolation Energy and Premier Energy and Infrastructure as its top bet in the segment along with eight other stocks from allied industries.

Asian Development Bank and Tata Cleantech Capital are the other financiers. The company did not provide a break up of how much of the funding was in the form of debt and what component was an equity investment. ET had reported on 18 January that SAEL Industries was close to finalising a $1 billion funding. DFC recently financed Adani Ports and Special Economic Zone with a $550 million loan for its port terminal project in Sri Lanka.

India and South Asia have the most firms with circular ownership concerns like hidden shareholders in a company, indicating risky shell companies that may warrant a targeted investigation. “India is characterised by high complexity in corporate governance structures, which are often opaque and characterised by substantial family ownership, including pyramidal arrangements and cross holdings”, said the Moody’s industry practitioners.

Top brokerages downgraded their ratings and cut target prices on the stock as analysts believe that the share price will be under pressure at least for now. The sell-off on Tuesday wiped off ₹7,285 crore in market capitalisation to ₹14,974.50 crore.