< -5%

-5% to -3%

Menon Pistons

IP Rings

Shriram Pistons

Federal-Mogul

Samkrg Pistons

-3% to 0%

0% to 3%

3% to 5%

Causeway Emerging Markets Fund, managed by California-headquartered Causeway Capital Management, has picked up little more than half-a-percent equity stake in Gujarat Pipavav Port via open market transaction on November 20.

<a href="https://www.moneycontrol.com/india/stockpricequote/shipping/gujaratpipavavport/GPP03">Gujarat Pipavav Port</a> shares gained nearly 2 percent to close at Rs 177.31 with above-average volumes on the NSE, sustaining above all key moving averages.

Causeway Emerging Markets Fund has bought 25.77 lakh shares (equivalent to 0.53 percent of paid-up equity) in Gujarat Pipavav Port, the first private port developed under the Public Private Partnership model in India, at Rs 177.55 per share, valued at Rs 45.77 crore.

Specialty chemicals maker <a href="https://www.moneycontrol.com/india/stockpricequote/speciality-chemicals/fairchemorganics/FO01">Fairchem Organics</a> shares remained in focus for second consecutive session, rising 0.33 percent to Rs 697.05 and hovering around the short term moving averages.

360 ONE Special Opportunities Fund - Series 7 continued to be seller in Fairchem for another session, offloading 80,655 (0.6 percent stake) at Rs 696.74 per share for Rs 5.6 crore.

360 One Special Opportunities Fund - Series 7 was holding 3.61 percent stake in Fairchem as of September 2025, of which it already sold 0.67 percent stake in the previous session.

Today during market hours, Fairchem Organics has approved the proposal to buy back its 4.25 lakh equity shares for up to Rs 34 crore.

Ownership, Material Conflicts of Interest and Disciplinary History

MCD is a wholly owned subsidiary of Network 18 Media & Investments Ltd ("Network18"), in which Independent Media Trust (IMT) holds 56.89% stake. Reliance Industries Limited ("RIL") is the sole beneficiary of IMT. Network18 and RIL and their subsidiaries, joint ventures and associates can be considered as associates of MCD.

Details of Associate

Receipt of Compensation

Third-Party Compensation

Employment History

Market-Making Activities

Use of Artificial Intelligence

Causeway Capital acquires over half a percent stake in Gujarat Pipavav Port

Causeway Emerging Markets Fund, managed by California-headquartered Causeway Capital Management, has picked up little more than half-a-percent equity stake in Gujarat Pipavav Port via open market transaction on November 20.

Gujarat Pipavav Port shares gained nearly 2 percent to close at Rs 177.31 with above-average volumes on the NSE, sustaining above all key moving averages.

Causeway Emerging Markets Fund has bought 25.77 lakh shares (equivalent to 0.53 percent of paid-up equity) in Gujarat Pipavav Port, the first private port developed under the Public Private Partnership model in India, at Rs 177.55 per share, valued at Rs 45.77 crore.

Specialty chemicals maker Fairchem Organics shares remained in focus for second consecutive session, rising 0.33 percent to Rs 697.05 and hovering around the short term moving averages.

360 ONE Special Opportunities Fund - Series 7 continued to be seller in Fairchem for another session, offloading 80,655 (0.6 percent stake) at Rs 696.74 per share for Rs 5.6 crore.

360 One Special Opportunities Fund - Series 7 was holding 3.61 percent stake in Fairchem as of September 2025, of which it already sold 0.67 percent stake in the previous session.

Today during market hours, Fairchem Organics has approved the proposal to buy back its 4.25 lakh equity shares for up to Rs 34 crore.

The Nifty Capital market index hit a fresh in Thursday's trade as the benchmark indices extended gains for the second consecutive day on buying in oil &amp; gas and select financial shares and fresh foreign fund inflows.

The gains in the Nifty Capital market index were led by Indian Energy Exchange (IEX), which settled 4.19 percent higher at Rs 142.86 per share on the National Stock Exchange (NSE).

It was closely followed by Computer Age Management Services and 360 ONE WAM, which rose 2.16 percent and 2.13 percent respectively.

Central Depository Services (India), Multi Commodity Exchange of India, Angel One and HDFC Asset Management Company were among the other gainers, rising up to 1 percent.

Analysts said a rally in global peers helped across the board buying today.

"Indian equities rose on optimism around India–US trade talks and progress on phase-1 agreements, boosting overall market sentiment. Global cues also remained strong, led by tech-driven gains following solid earnings. Fresh FII inflows and strength in large-cap sectors such as Auto, Financials, and IT supported the upbeat trend," Vinod Nair, Head of Research, Geojit Investments Limited, said.

The Sensex jumped 446.21 points or 0.52 percent to settle at 85,632.68. During the day, it surged 615.23 points or 0.72 per cent to hit a 52-week high of 85,801.70. The Nifty also hit its 52-week high of 26,246.65 during the day before closing at 26,192.15, reflecting gains of 139.50 points or 0.54 per cent over the previous close.

<em><strong>Disclaimer:</strong> The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Capital market index at fresh high as benchmark indices hit 52-week high; IEX, CAMS lead gains

The Nifty Capital market index hit a fresh in Thursday's trade as the benchmark indices extended gains for the second consecutive day on buying in oil &amp;amp; gas and select financial shares and fresh foreign fund inflows.

The gains in the Nifty Capital market index were led by Indian Energy Exchange (IEX), which settled 4.19 percent higher at Rs 142.86 per share on the National Stock Exchange (NSE).

It was closely followed by Computer Age Management Services and 360 ONE WAM, which rose 2.16 percent and 2.13 percent respectively.

Central Depository Services (India), Multi Commodity Exchange of India, Angel One and HDFC Asset Management Company were among the other gainers, rising up to 1 percent.

Analysts said a rally in global peers helped across the board buying today.

&quot;Indian equities rose on optimism around India–US trade talks and progress on phase-1 agreements, boosting overall market sentiment. Global cues also remained strong, led by tech-driven gains following solid earnings. Fresh FII inflows and strength in large-cap sectors such as Auto, Financials, and IT supported the upbeat trend,&quot; Vinod Nair, Head of Research, Geojit Investments Limited, said.

The Sensex jumped 446.21 points or 0.52 percent to settle at 85,632.68. During the day, it surged 615.23 points or 0.72 per cent to hit a 52-week high of 85,801.70. The Nifty also hit its 52-week high of 26,246.65 during the day before closing at 26,192.15, reflecting gains of 139.50 points or 0.54 per cent over the previous close.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/pharmaceuticals/mangalamdrugsorganics/MDO">Mangalam Drugs and Organics</a> dropped more than 13 percent on November 20, extending losses to a whopping 23 percent in two days. This comes after the company announced that it has defaulted on two bank loans.

The shares hit a fresh 52-week low of Rs 47.27 apiece on Wednesday. This marks a 63 percent drop in less than a year from the stock's 52-week high of Rs 128.01 apiece, which it had hit in November last year.

The stock made some recovery by the end of the day, closing nearly 11 percent lower in the red at Rs 48.43 apiece on Wednesday. The company which had a market capitalisation of Rs 97 crore at the end of November 18, now has a market cap of Rs 77 crore at the end of November 20.

This implies that Rs 20 crore was wiped out of the company's market capitalisation after it announced that it has defaulted on bank loans worth Rs 8 crore.
<h3><strong>Mangalam Drugs loan default:</strong></h3>
In an exchange filing released on November 18, Mangalam Drugs and Organics said that it has defaulted on its loan obligations to Bank of Baroda and Bank of Maharashtra for a period exceeding 30 days.

The company has defaulted on a Rs 4.15-crore loan from the <a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/bankmaharashtra/BM05">Bank of Maharashtra</a>, which was scheduled to be cleared before October 17. It has also defaulted on a Rs 3.50-crore loan from <a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/bankbaroda/BOB">Bank of Baroda</a> scheduled to be cleared before October 20.

"Our business is mainly dependent on funding to formulators for treatment of T8, HIV, Malaria etc. from US Aid which is now dis-banned by US government and this has majorly affected our business. Presently only Global Fund is funding the treatments with a reduced budget. As the funding has slowed down the orders for treatment have also been dropped drastically," Mangalam Drugs said in its exchange filling.

Notably, US President Donald Trump slashed the country's foreign aid budget, and shuttered US AID earlier this year which supported health, education and development worldwide. Additionally, Global Fund was founded by Bill Gates.

"We have requested a restructuring of the loan with our bank and desired plan will be submitted to them by mid-December 2025. We are also making arrangements to pay the overdue amount as soon as possible,” it added.
<h3><strong>Mangalam Drugs delays Q2 results:</strong></h3>
Earlier on November 13, Mangalam Drugs clarified the reason why it has delayed the release of its Q2 FY26 results. “Due to unavoidable circumstances, at present Company has not yet finalized the Financials Results for the Quarter ended 30th September, 2025. In view of the facts, as explained above it is submitted that there shall be delay in submission of Un-Audited Financial Results for the Quarter ended 30th September, 2025 and the Company shall not be able to submit the same by 14th of November, 2025. However, it is further submitted that the Company shall make sincere efforts in completion of said Un-Audited results as soon as possible with minimum delay for the purpose of its Intimation to Stock Exchange," it said.
<h3><strong>Mangalam Drugs share price:</strong></h3>
Mangalam Drugs shares have dropped more than 20 percent in the past five days, and nearly 31 percent in the past one month. The stock is down around 60 percent in 2025 so far.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-20-11-2025-liveblog-13687099.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Mangalam Drugs shares tumble 23% in two days after firm defaults on Rs 8-crore bank loans

The shares of Mangalam Drugs and Organics dropped more than 13 percent on November 20, extending losses to a whopping 23 percent in two days. This comes after the company announced that it has defaulted on two bank loans.

The shares hit a fresh 52-week low of Rs 47.27 apiece on Wednesday. This marks a 63 percent drop in less than a year from the stock's 52-week high of Rs 128.01 apiece, which it had hit in November last year.

The stock made some recovery by the end of the day, closing nearly 11 percent lower in the red at Rs 48.43 apiece on Wednesday. The company which had a market capitalisation of Rs 97 crore at the end of November 18, now has a market cap of Rs 77 crore at the end of November 20.

This implies that Rs 20 crore was wiped out of the company's market capitalisation after it announced that it has defaulted on bank loans worth Rs 8 crore.
Mangalam Drugs loan default:
In an exchange filing released on November 18, Mangalam Drugs and Organics said that it has defaulted on its loan obligations to Bank of Baroda and Bank of Maharashtra for a period exceeding 30 days.

The company has defaulted on a Rs 4.15-crore loan from the Bank of Maharashtra, which was scheduled to be cleared before October 17. It has also defaulted on a Rs 3.50-crore loan from Bank of Baroda scheduled to be cleared before October 20.

&quot;Our business is mainly dependent on funding to formulators for treatment of T8, HIV, Malaria etc. from US Aid which is now dis-banned by US government and this has majorly affected our business. Presently only Global Fund is funding the treatments with a reduced budget. As the funding has slowed down the orders for treatment have also been dropped drastically,&quot; Mangalam Drugs said in its exchange filling.

Notably, US President Donald Trump slashed the country's foreign aid budget, and shuttered US AID earlier this year which supported health, education and development worldwide. Additionally, Global Fund was founded by Bill Gates.

&quot;We have requested a restructuring of the loan with our bank and desired plan will be submitted to them by mid-December 2025. We are also making arrangements to pay the overdue amount as soon as possible,” it added.
Mangalam Drugs delays Q2 results:
Earlier on November 13, Mangalam Drugs clarified the reason why it has delayed the release of its Q2 FY26 results. “Due to unavoidable circumstances, at present Company has not yet finalized the Financials Results for the Quarter ended 30th September, 2025. In view of the facts, as explained above it is submitted that there shall be delay in submission of Un-Audited Financial Results for the Quarter ended 30th September, 2025 and the Company shall not be able to submit the same by 14th of November, 2025. However, it is further submitted that the Company shall make sincere efforts in completion of said Un-Audited results as soon as possible with minimum delay for the purpose of its Intimation to Stock Exchange,&quot; it said.
Mangalam Drugs share price:
Mangalam Drugs shares have dropped more than 20 percent in the past five days, and nearly 31 percent in the past one month. The stock is down around 60 percent in 2025 so far.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/finance-others/pinelabs/PLL01">Pine Labs</a> dropped nearly 3 percent on November 20 after the newly-listed stock received a 'Reduce' rating from Emkay Labs, with a target price below its IPO price.

The stock dropped to Rs 235.10 apiece on Thursday, snapping a two-session gaining streak.

<strong>Emkay Global on Pine Labs:</strong>

Emkay Global initiated coverage on Pine Labs shares with a 'Reduce' rating and a target price of Rs 210 apiece. This implies a downside potential of more than 13 percent from the stock's previous closing price of Rs 241.87 apiece.

The domestic brokerage said that the company has a strong value proposition in the enterprise POS segment and dominant position in EMI aggregation. However, it expects the competitive intensity to rise in both these segments as adjacent-market players are increasingly targeting these pools.

"In merchant acquisition, industry growth is being led by digitization of small merchants, for whom low-end devices and strong distribution capabilities are crucial success factors. While Pine Labs is ramping up shipments of low-end Mosambee devices, its distribution is still weaker than peers’, limiting its right-to-win in this segment. Its India gift-card business is profitable albeit growth-constrained, while its international business is scaling up rapidly although it operates at low and volatile margins," it said.

Emkay said it sees an unfavorable risk-reward given the rising competition. "We model 19% revenue CAGR for FY25-28E which translates into 53% EBITDA CAGR on a low base. On FY28 estimates, the stock trades at 28.1x EV/EBITDA and 56.4x P/E," it added.

The brokerage believes that Pine Labs faces two structural headwinds – the accelerating shift towards a QR-based acceptance ecosystem and the rising competitive intensity in merchant acquisition. "Given its weaker competitive position vs peers, the maturing nature of its core enterprise POS business and ongoing market-share losses across both POS and affordability, we view risk-reward as unfavorable," it said.

<strong>Pine Labs market debut:</strong>

The shares of Pine Labs made a <a href="https://www.moneycontrol.com/news/business/ipo/pine-labs-shares-list-at-9-5-premium-to-ipo-price-on-bse-beat-grey-market-expectations-13675459.html">decent market debut</a> on November 14, listing at Rs 242 apiece on BSE. This marked a premium of 9.5 percent over the IPO price of Rs 221 apiece. The listing premium has beaten grey market estimates.

This came after the Rs 3,900-crore IPO of the company was subscribed nearly 2.5 times its offer size between November 7 and November 11. The stock's market capitalisation at debut stood at around Rs 27,800 crore.

The stock rose more than 17 percent on its debut day to hit a high of Rs 284 apiece. The stock has now fallen over 17 percent since then, and is below its listing price. Its market capitalisation currently stands at around Rs 27,000 crore.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-20-11-2025-liveblog-13687099.html">LIVE updates</a> about stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Pine Labs shares drop 3% as Emkay initiates 'Reduce' call, sees up to 13% downside

The shares of Pine Labs dropped nearly 3 percent on November 20 after the newly-listed stock received a 'Reduce' rating from Emkay Labs, with a target price below its IPO price.

The stock dropped to Rs 235.10 apiece on Thursday, snapping a two-session gaining streak.

Emkay Global on Pine Labs:

Emkay Global initiated coverage on Pine Labs shares with a 'Reduce' rating and a target price of Rs 210 apiece. This implies a downside potential of more than 13 percent from the stock's previous closing price of Rs 241.87 apiece.

The domestic brokerage said that the company has a strong value proposition in the enterprise POS segment and dominant position in EMI aggregation. However, it expects the competitive intensity to rise in both these segments as adjacent-market players are increasingly targeting these pools.

&quot;In merchant acquisition, industry growth is being led by digitization of small merchants, for whom low-end devices and strong distribution capabilities are crucial success factors. While Pine Labs is ramping up shipments of low-end Mosambee devices, its distribution is still weaker than peers’, limiting its right-to-win in this segment. Its India gift-card business is profitable albeit growth-constrained, while its international business is scaling up rapidly although it operates at low and volatile margins,&quot; it said.

Emkay said it sees an unfavorable risk-reward given the rising competition. &quot;We model 19% revenue CAGR for FY25-28E which translates into 53% EBITDA CAGR on a low base. On FY28 estimates, the stock trades at 28.1x EV/EBITDA and 56.4x P/E,&quot; it added.

The brokerage believes that Pine Labs faces two structural headwinds – the accelerating shift towards a QR-based acceptance ecosystem and the rising competitive intensity in merchant acquisition. &quot;Given its weaker competitive position vs peers, the maturing nature of its core enterprise POS business and ongoing market-share losses across both POS and affordability, we view risk-reward as unfavorable,&quot; it said.

Pine Labs market debut:

The shares of Pine Labs made a decent market debut on November 14, listing at Rs 242 apiece on BSE. This marked a premium of 9.5 percent over the IPO price of Rs 221 apiece. The listing premium has beaten grey market estimates.

This came after the Rs 3,900-crore IPO of the company was subscribed nearly 2.5 times its offer size between November 7 and November 11. The stock's market capitalisation at debut stood at around Rs 27,800 crore.

The stock rose more than 17 percent on its debut day to hit a high of Rs 284 apiece. The stock has now fallen over 17 percent since then, and is below its listing price. Its market capitalisation currently stands at around Rs 27,000 crore.

Follow all LIVE updates about stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/engines/cumminsindia/CI02">Cummins India</a> jumped nearly 3 percent on November 20 after the brokerage firm Citi issues a positive note for the company.

The stock rose to Rs 4,379.90 apiece on Thursday. Its market capitalisation currently stands at Rs 1,21,239 crore, according to data on NSE.

<strong>Here's what Citi said:</strong>

Citi in its brokerage note said that the company saw steady demand from real estate, construction and infrastructure. It added that the data centre demand remained steady from colocation players, although hyperscaler demand may be uneven. Notably, Cummins is a major supplier of backup power solutions, diesel and gas generators, which are key for datacenters

Citi sees the industrial weakness in the July-September quarter of FY26 as transitory, with potential on railways, defence and marine. It noted that the company is expanding its distribution reach.

The brokerage held a target price of Rs 4,875 apiece for the stock. This implies an upside potential of more than 14 percent from the stock’s previous closing price.

<strong>Cummins India share price:</strong>

Cummins India shares gained more than 1 percent in the past five days, and over 9 percent in the past one month. The stock surged nearly 49 percent in the past six months, and is up nearly 36 percent in 2025 so far.

Its P/E ratio currently stands at around 63.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-20-11-2025-liveblog-13687099.html">LIVE updates</a> about the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Cummins India shares jump 3% after Citi sees steady demand in future; check target price

The shares of Cummins India jumped nearly 3 percent on November 20 after the brokerage firm Citi issues a positive note for the company.

The stock rose to Rs 4,379.90 apiece on Thursday. Its market capitalisation currently stands at Rs 1,21,239 crore, according to data on NSE.

Here's what Citi said:

Citi in its brokerage note said that the company saw steady demand from real estate, construction and infrastructure. It added that the data centre demand remained steady from colocation players, although hyperscaler demand may be uneven. Notably, Cummins is a major supplier of backup power solutions, diesel and gas generators, which are key for datacenters

Citi sees the industrial weakness in the July-September quarter of FY26 as transitory, with potential on railways, defence and marine. It noted that the company is expanding its distribution reach.

The brokerage held a target price of Rs 4,875 apiece for the stock. This implies an upside potential of more than 14 percent from the stock’s previous closing price.

Cummins India share price:

Cummins India shares gained more than 1 percent in the past five days, and over 9 percent in the past one month. The stock surged nearly 49 percent in the past six months, and is up nearly 36 percent in 2025 so far.

Its P/E ratio currently stands at around 63.

Follow all LIVE updates about the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Auto Ancillaries - Pistons Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Auto Ancillaries - Pistons industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q2 FY25-26

Stock News

Causeway Capital acquires over half a percent stake in Gujarat Pipavav Port

Capital market index at fresh high as benchmark indices hit 52-week high; IEX, CAMS lead gains

Mangalam Drugs shares tumble 23% in two days after firm defaults on Rs 8-crore bank loans

Pine Labs shares drop 3% as Emkay initiates 'Reduce' call, sees up to 13% downside

Cummins India shares jump 3% after Citi sees steady demand in future; check target price

Auto Ancillaries - Pistons Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Auto Ancillaries - Pistons industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q2 FY25-26

Stock News

Causeway Capital acquires over half a percent stake in Gujarat Pipavav Port

Capital market index at fresh high as benchmark indices hit 52-week high; IEX, CAMS lead gains

Mangalam Drugs shares tumble 23% in two days after firm defaults on Rs 8-crore bank loans

Pine Labs shares drop 3% as Emkay initiates 'Reduce' call, sees up to 13% downside

Cummins India shares jump 3% after Citi sees steady demand in future; check target price

Auto Ancillaries - Pistons Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Auto Ancillaries - Pistons industry stocks.