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EquityPandit

EquityPandit
MARKETS

Godrej Agrovet Shares Plunge on Poor Q4 Performance Dragged by Crop Protection Business

The land parcel is located near the expressway connecting Mumbai and Nagpur.

Shares of Godrej Agrovet fell more than 4% on May 10 after the company reported disappointing March quarter results. The food and agriculture company’s net profit fell by 83.21 per cent to Rs 23.47 crore.

The company’s operating income was almost flat at Rs 2,088.8 crore in the quarter, compared to Rs 2,075.62 crore a year earlier. On the operational side, EBITDA fell 60% to Rs 87 crore.

Regarding segment performance, revenue growth in Animal Feed, Dairy & Poultry & Processed Foods was offset by Crop Protection and Palm Oil declines.

The company said consolidated profitability was adversely affected, primarily due to lower operating margins in the crop protection business.

“High levels of channel inventories, unfavourable weather conditions and price adjustments have severely impacted the profitability of crop protection businesses, mainly Astec Lifesciences,” said B. S. Yadav, Managing Director, Godrej Agrovet.

Government price controls and commodity price volatility with limited pass-through impacted margins in the feed business. Yadav added that milk procurement costs for Creamline Dairy continued to rise but could not be fully passed on.

The stock was quoted at Rs 417.70 on the NSE at 9:35 am, down 4.7% from its previous close. The trading volume is 3.5 times the 20-day average trading volume. The stock has fallen more than 17% over the past year.

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MARKETS

Paytm Shares Gain 2% on Partnering Up with Greater Hyderabad Municipal Corporation

Ali Waghbakriwala

Shares of One97 Communications Ltd, which is the parent company of Paytm, surged more than 2% on 2 April after the company announced partnering up with Greater Hyderabad Municipal Corporation to deploy 400 card machines for property tax collection. 

Paytm Card Machines have been deployed across multiple collection centres and for door-to-door tax collection, enabling residents to pay their property tax using credit cards, debit cards, and QR codes, according to an exchange filing on Wednesday. 

These devices are integrated with the GHMC app, allowing officials to instantly check outstanding dues, process payments, and issue on-the-spot confirmation receipts.

Paytm’s advanced payment solution has enhanced GHMC’s tax collection process, ensuring faster and more efficient transactions, the statement added. “Our collaboration with GHMC is aimed at simplifying property tax payments for both citizens and municipal authorities,” a Paytm spokesperson stated. “Through our innovative card machines and industry-leading QR payment solutions, we are enhancing convenience, speeding up processing, and increasing transparency in tax collection.”

One97 Communications, the parent company of Paytm, is a leading Indian fintech firm that provides digital payment solutions, including money transfers, merchant payments, and bill settlements. 

Additionally, the company offers commerce and cloud-based services such as ticketing, advertising technology, and financial products like loans, insurance, and wealth management through its financial partners.

With recent approval from the Securities and Exchange Board of India (SEBI) for Paytm Money to venture into investment insights and research services, the company is poised to expand into wealth management, potentially unlocking new revenue streams.

At 2:24 pm, the shares of One97 Communications were trading 2.01% higher at Rs 817.20 on NSE.

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MARKETS

Godrej Properties Shares Surge 4% on Selling 275 Properties in Noida 

Ali Waghbakriwala

Shares of Godrej Properties Ltd surged more than 4% on Wednesday, 2 April, after the company announced that they have sold over 275 homes worth over Rs 2,000 crore at the launch of its premium project, Godrej Riverine, in Sector 44, Noida. 

In its regulatory filing, the company said, “Godrej Properties Ltd, one of India’s leading real estate developers, today announced that it has sold over 275 homes worth over Rs 2,000 crore at the launch of its luxury project, Godrej Riverine, located in Sector 44, Noida.”

In March 2025, Godrej Riverine was introduced in Sector 44, one of Noida’s major micro markets. The project, which spans 6.46 acres, consists of upscale residential flats in various layouts. Godrej Properties is launching Godrej Riverine in Noida for the third time in a row. 

Godrej Properties sold more than Rs 2,000 crore worth of inventory in Godrej Tropical Isle and Godrej Jardinia, both located in Sector 146, Noida, in Q1FY25 and Q2FY24.

“We are delighted with the overwhelming response to our luxury project, Godrej Riverine in Noida. We extend our sincere gratitude to our customers and all stakeholders for their trust and confidence in Godrej Properties. We remain committed to delivering an exceptional living experience at this development. Noida is a key market for us, and we look forward to further strengthening our presence in the region in the years ahead,” said Gaurav Pandey, MD & CEO of Godrej Properties. 

The statement claims that based on the volume of residential sales it generated in FY2024, Godrej Properties emerged as the largest developer in India. Godrej Properties has put a lot of emphasis on sustainable development.

At 1:35 pm, the shares of Godrej properties were trading 4.72% higher at Rs 2,138 on NSE. 

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MARKETS

Galaxy Surfactants Shares Soar 9% as ICICI Prudential MF Acquires Stake 

Ali Waghbakriwala

Shares of Galaxy Surfactants Ltd soared more than 8% on 2 April after ICICI Prudential Mutual Fund acquired an additional stake in the company via a block deal. 

ICICI Prudential Mutual Fund purchased 2,97,500 shares on 1 April 2025 for Rs 2,092 per share, according to NSE Bulk Deal data. As of December 2024, ICICI Prudential Mutual Fund owned 1.02% of the company in accordance with the BSE shareholding structure. 

Furthermore, Nippon Life India held 2.25% of the shares in public mutual funds, followed by Kotak Mutual Fund with 3.88% and Axis Mutual Fund with 4.38%. 

Unnathan Shekhar and Shashikant Rayappa Shanbhag, the company’s promoters, held the biggest interests of any individual promoter, with 11.92 and 11.52%, respectively. Individuals and Hindu undivided families held 41.69% of Galaxy Surfactants. 

Galaxy Surfactants is a leading company in the surfactant and speciality care ingredient market, catering to the personal care and home industries. The corporation has six cutting-edge facilities, including four production facilities in India, one in Egypt, and one in the US, according to its official website. 

Galaxy Surfactants produces a variety of speciality chemicals and surfactants, including cationic, amphoteric, nonionic, and anionic surfactants. These are used in the manufacturing of personal care products such as shampoos, conditioners, lotions, and cleansers, as well as cleaning materials for the home and workplace.

At 12:50 pm, the shares of Galaxy Surfactants were trading 8.23% higher at Rs 2,264 on NSE.

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MARKETS

RITES Shares Slump 3% on Terminating Contract with UP State Bridge Corp

Ali Waghbakriwala

Shares of RITES Ltd slumped more than 3% on 2 April after the company announced terminating its contract with UP State Bridge Corporation. 

According to the previous order, RITES was supposed to provide consulting services for Construction Supervision of Civil Works (CSC) in order to oversee, monitor, control quality, and ensure the safety of the work zone during the construction of flyovers, elevated roads, rail over/under bridges, bridges, and approaches in a number of Uttar Pradesh districts.
 
In an exchange filing, RITES said, “We would like to inform you that pursuant to the Foreclosure Agreement between RITES and UPSBCL, it has mutually agreed for foreclosure of the Principal Agreement for the aforesaid work.”

Since RITES stated that it was difficult to continue executing the agreement under the current conditions due to interpretation issues with numerous of its components, it was concluded that the agreement should be foreclosed. 

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The company added “No impact due to foreclosure as the execution of the work was not commenced.” 

RITES Limited, a Navratna Public Sector Enterprise, is a major force in India’s transport consulting and engineering sector, offering a wide range of services and a large geographic reach. 

The organization has almost 50 years of expertise and has worked on projects in over 55 countries in the Middle East, Asia, Africa, Latin America, and South America.  

At 11:51 am, the shares of RITES were trading 0.83% lower at Rs 228.27 on NSE.

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MARKETS

Stocks in Focus: KEC International, Dabur India, RITES, and Others

Ali Waghbakriwala

The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 9 points higher at 23,331, indicating that the domestic benchmark indices are likely to make a positive start on Wednesday.

On Tuesday, 1 April, Domestic benchmark indices S&P BSE Sensex crashed by 1,390.41 points or 1.80% and settled at 76,024.51 while the Nifty50 traded 1.50% lower by 353.65 points, settling at 23,165.70.

Here are some stocks that are likely to remain in focus on 2 April.

KEC International: The company has announced secured new orders worth Rs 1,236 crore. The projects include power projects in Kuwait, UAE, and India that strengthen its presence in the infrastructure sector. 

Dabur India: The company has announced receiving a tax demand worth Rs 110.33 crore for the financial year 2017-18.

RITES: The company has mutually terminated its agreement with UP State Bridge Corporation for consultancy services for the construction supervision of civil works. The company terminated the agreement as they were facing interpretation issues regarding certain provisions of the agreement, and it was getting difficult for them to continue with the execution of the agreement under the existing terms.

L&T Technology Services: The company has announced signing a deal worth Rs 50 million Euro with a European automotive company for developing and operating next-generation software platforms that will be tailored to both current and upcoming vehicle models. 

Raymond: The company has announced its intention to enter into a Joint Venture Development (JVD) agreement to undertake a large-scale residential project in Wadala, Mumbai, that will be constructed for a gross development value of Rs 5,000 crore. 

Power Grid Corporation of India: The company announced that the Board of Directors is set to meet on 4 April to consider and approve raising funds via the issuance of NCDs. The company has also emerged as a successful bidder for establishing an inter-state transmission system. 

Tata Consumer Products: The company has announced receiving a tax demand notice worth Rs 262.08 crore for the assessment year 2021-22. However, the company has assured us that the demand order is not maintainable and is in the process of approving an appeal against it. 

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