Elecon Engineering Company's shares plunged 13.2% after reporting a 33% drop in Q3 FY26 net profit to Rs 72 crore, despite a marginal 4.3% revenue increase. The company cited order inflow delays and increased employee costs impacting EBITDA margins. However, management expressed confidence in future recovery due to healthy open orders and steady demand from key domestic and overseas industries.
Iran has again cut internet and phone services as protests surge across the nation. Demonstrators are responding to calls for action, with markets closing in solidarity. This unrest echoes decades of similar movements driven by economic hardship and demands for freedom. Authorities have a history of responding with force and communication blackouts to quell dissent.
Bansal Wire Industries shares fell to a new 52-week low. This happened as a six-month lock-in period for a significant portion of its shares ended. Over 31 million shares, nearly 20% of the company, are now eligible for trading. The company recently reported record sales volumes for the December quarter.
Shares of Indian Energy Exchange (IEX) fell sharply as APTEL began hearing the case against CERCs market coupling directions. The tribunal highlighted fairness and independence in CERCs decision-making, leaving the continuation of the 2025 order uncertain. Investors are closely watching for implications on IEXs market dominance.
Oil prices are climbing for a second day. This surge is driven by uncertainty over Venezuela's oil supply and growing concerns about output from Iran due to civil unrest. Major oil companies are vying for U.S. government deals to export Venezuelan crude. Protests in Iran over economic hardship are also contributing to supply worries.
In the Nifty200 pack, the closing prices of 16 stocks fell below their 200-day moving averages on January 8, according to StockEdge.com's technical scan data. Of these, we highlighted 11 stocks that slipped more than 2.5%. Trading below the 200 DMA is considered a negative signal because it indicates that the stock's price is below its long-term trend line. The 200 DMA is used as a key indicator by traders for determining the overall trend in a particular stock. Take a look:
Asian equities saw a modest rise after a two-day decline, as investors awaited US payrolls data and a potential Supreme Court ruling on President Trump's tariffs. Money has shifted from tech giants to smaller companies, with the Russell 2000 outperforming the Nasdaq 100. US jobs data will offer clues on the Federal Reserve's interest rate path.
CVC has an exclusivity agreement with ValueLabs, founded in 1997 by Arjun Rao Donakanti (87% owner). Promoters may retain 1520% and management will continue running the firm.
JP Morgan anticipates 2026 will be a crucial year for India's electronics manufacturing services (EMS) sector, with stocks facing a significant test after underperforming in 2025. A sustained recovery for these shares will depend on companies demonstrating improved profitability, with key triggers including the extension of the mobile PLI scheme and the rollout of ISM 2.0.
