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Investor Vijay Kedia-owned firm has picked nearly 1 percent stake in Eimco Elecon (India), the mining and construction equipment manufacturer, via open market transactions on October 7.

<a href="https://www.moneycontrol.com/india/stockpricequote/engineering-heavy/eimcoeleconindia/EEI">Eimco Elecon</a> shares clocked 5 percent gains on Tuesday, closing at Rs 1,917.50 with above-average volumes. It is valued at Rs 1,100 crore.

Kedia Securities, owned by Vijay Kedia, has bought 57,441 equity shares in Eimco Elecon at Rs 1,906.71 per share, amounting to Rs 10.95 crore.

Meanwhile, Ashish Kacholia-backed <a href="https://www.moneycontrol.com/india/stockpricequote/trading/shailyengineeringplastics/SEP02">Shaily Engineering Plastics</a> was also in focus, witnessing a massive 11.43 percent rally to finish the session at Rs 2,407.7 with long bullish candle formation and hitting upper Bollinger bands.

Lighthouse India Fund III, backed by institutional investors, sold 13,33,155 equity shares (equivalent to 2.9 percent stake) in Shaily that makes plastic products for healthcare, consumer, personal care and automotive and engineering, at Rs 2,134 per share for Rs 284.5 crore.

As of June 2025, Lighthouse India Fund held 4.27 percent stake in Shaily.

On other side, 10 investors bought the entire 2.9 percent stake sold in Shaily by Lighthouse India. Motilal Oswal Mutual Fund, which already owned 9.68 percent stake, bought additional 3.25 lakh shares worth Rs 69.35 crore in the company at same price.

This follows Stallion Asset which acquired 2.5 lakh shares worth Rs 53.35 crore. BofA Securities Europe SA, Abu Dhabi Investment Authority (Way), 360 ONE, Subhkam Ventures, Societe Generale, Samyak Enterprises, Aditya Birla Sun Life MF, Trust Mutual Fund picked the remaining 7.58 lakh shares worth Rs 161.78 crore in Shaily.

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

Vijay Kedia-owned firm picks 1% stake in Eimco Elecon, Lighthouse India offloads 2.9% shares in Ashish Kacholia-backed plastics products maker

Investor Vijay Kedia-owned firm has picked nearly 1 percent stake in Eimco Elecon (India), the mining and construction equipment manufacturer, via open market transactions on October 7.

Eimco Elecon shares clocked 5 percent gains on Tuesday, closing at Rs 1,917.50 with above-average volumes. It is valued at Rs 1,100 crore.

Kedia Securities, owned by Vijay Kedia, has bought 57,441 equity shares in Eimco Elecon at Rs 1,906.71 per share, amounting to Rs 10.95 crore.

Meanwhile, Ashish Kacholia-backed Shaily Engineering Plastics was also in focus, witnessing a massive 11.43 percent rally to finish the session at Rs 2,407.7 with long bullish candle formation and hitting upper Bollinger bands.

Lighthouse India Fund III, backed by institutional investors, sold 13,33,155 equity shares (equivalent to 2.9 percent stake) in Shaily that makes plastic products for healthcare, consumer, personal care and automotive and engineering, at Rs 2,134 per share for Rs 284.5 crore.

As of June 2025, Lighthouse India Fund held 4.27 percent stake in Shaily.

On other side, 10 investors bought the entire 2.9 percent stake sold in Shaily by Lighthouse India. Motilal Oswal Mutual Fund, which already owned 9.68 percent stake, bought additional 3.25 lakh shares worth Rs 69.35 crore in the company at same price.

This follows Stallion Asset which acquired 2.5 lakh shares worth Rs 53.35 crore. BofA Securities Europe SA, Abu Dhabi Investment Authority (Way), 360 ONE, Subhkam Ventures, Societe Generale, Samyak Enterprises, Aditya Birla Sun Life MF, Trust Mutual Fund picked the remaining 7.58 lakh shares worth Rs 161.78 crore in Shaily.

The shares of several FMCG companies dropped in trade for the second consecutive session on October 7, after a sharp rally earlier following GST reforms. Elara Capital in its note painted a subdued outlook for the sector in the upcoming Q2 earnings season.

The <a href="https://www.moneycontrol.com/indian-indices/nifty-fmcg-39.html">Nifty FMCG</a> index dropped 0.53 percent (around 294 points) to close at 54,763.85 on Tuesday. The index has now fallen more than 0.7 percent (nearly 407 points) in these two sessions.

<a href="https://www.moneycontrol.com/india/stockpricequote/food-processing/britanniaindustries/BI">Britannia Industries</a> and <a href="https://www.moneycontrol.com/india/stockpricequote/plantations-teacoffee/tataconsumerproducts/TT">Tata Consumer Products</a> shares were the top losers on the index, dropping nearly 2 percent each. Emami shares fell over 1 percent.

United Spirits and <a href="https://www.moneycontrol.com/india/stockpricequote/personal-care/daburindia/DI">Dabur India</a> shares dropped around 1 percent, while <a href="https://www.moneycontrol.com/india/stockpricequote/food-processing/nestleindia/NI">Nestle India</a>, Hindustan Unilever (<a href="https://www.moneycontrol.com/india/stockpricequote/personal-care/hindustanunilever/HU">HUL</a>), Patanjali Foods, <a href="https://www.moneycontrol.com/india/stockpricequote/diversified/itc/ITC">ITC</a>, Marico and United Breweries (<a href="https://www.moneycontrol.com/india/stockpricequote/breweriesdistilleries/unitedbreweries/UB02">UBL</a>) shares were trading in the red with marginal losses.

Bucking the trend, <a href="https://www.moneycontrol.com/india/stockpricequote/breweriesdistilleries/radicokhaitan/RK01">Radico Khaitan</a> shares gained more than 1 percent, while Colgate Palmolive, <a href="https://www.moneycontrol.com/india/stockpricequote/food-processing/varunbeverages/VB05">Varun Beverages</a> and Godrej Consumer Products shares closed with marginal gains.

'Higher input costs are likely to weigh down margins in Q2'

Speaking about Q2 expectations, Elara Capital in its latest note said FMCG demand remained steady in Q2, but GST transition and an extended monsoon led to a temporary slowdown. It added that it expects a few companies to benefit from pricing-led growth, while others may face pressure due to sustained intensity in competition. “Higher input costs are likely to weigh down margins, with most companies likely to report a contraction in profitability. Our preferred picks within our FMCG coverage universe are Marico, Tata Consumer and Titan,” it said.

'Extended monsoon and GST shift can weigh down on short-term demand'

Elara explained how extended monsoon and GST shift can weigh down on short-term demand. "FMCG demand remained subdued sequentially in Q2FY26. Extended monsoons dampened household insecticide and beverages sales, as nearly 91% of sub-regions received normal to excess rainfall. In beverages, competitive intensity remains high, with incumbents resorting to promotions and discounts to protect share. The growth in rural India continued to be ahead of Urban. The recent rationalization in GST rate is set to boost consumer demand with most food and personal care categories taxed at 5% versus 12-18% earlier. However, companies have called out transitory impact on volumes in the near term, as trade channels focus on liquidating pre-GST inventory, leading to a temporary slowdown in secondary sales immediately after the announcement," it said.

Mixed trends in commodity prices like palm oil, coffee and more will also impact the earnings, the domestic brokerage added.

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.

FMCG stocks drop for 2nd day; Elara Capital says monsoon, GST transition to cloud Q2 sales

The shares of several FMCG companies dropped in trade for the second consecutive session on October 7, after a sharp rally earlier following GST reforms. Elara Capital in its note painted a subdued outlook for the sector in the upcoming Q2 earnings season.

The Nifty FMCG index dropped 0.53 percent (around 294 points) to close at 54,763.85 on Tuesday. The index has now fallen more than 0.7 percent (nearly 407 points) in these two sessions.

Britannia Industries and Tata Consumer Products shares were the top losers on the index, dropping nearly 2 percent each. Emami shares fell over 1 percent.

United Spirits and Dabur India shares dropped around 1 percent, while Nestle India, Hindustan Unilever (HUL), Patanjali Foods, ITC, Marico and United Breweries (UBL) shares were trading in the red with marginal losses.

Bucking the trend, Radico Khaitan shares gained more than 1 percent, while Colgate Palmolive, Varun Beverages and Godrej Consumer Products shares closed with marginal gains.

'Higher input costs are likely to weigh down margins in Q2'

Speaking about Q2 expectations, Elara Capital in its latest note said FMCG demand remained steady in Q2, but GST transition and an extended monsoon led to a temporary slowdown. It added that it expects a few companies to benefit from pricing-led growth, while others may face pressure due to sustained intensity in competition. “Higher input costs are likely to weigh down margins, with most companies likely to report a contraction in profitability. Our preferred picks within our FMCG coverage universe are Marico, Tata Consumer and Titan,” it said.

'Extended monsoon and GST shift can weigh down on short-term demand'

Elara explained how extended monsoon and GST shift can weigh down on short-term demand. &quot;FMCG demand remained subdued sequentially in Q2FY26. Extended monsoons dampened household insecticide and beverages sales, as nearly 91% of sub-regions received normal to excess rainfall. In beverages, competitive intensity remains high, with incumbents resorting to promotions and discounts to protect share. The growth in rural India continued to be ahead of Urban. The recent rationalization in GST rate is set to boost consumer demand with most food and personal care categories taxed at 5% versus 12-18% earlier. However, companies have called out transitory impact on volumes in the near term, as trade channels focus on liquidating pre-GST inventory, leading to a temporary slowdown in secondary sales immediately after the announcement,&quot; it said.

Mixed trends in commodity prices like palm oil, coffee and more will also impact the earnings, the domestic brokerage added.

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 Nifty Bank index recorded gains on October 7, extending its gaining streak to the sixth session. Analysts have advised key levels to watch out for the index, breaking which, it can rally further.

The Nifty Bank index gained around 134.5 points (0.24 percent) to close at 56,239. This is the highest level seen by the index in more than three months.

Top gainers on Nifty Bank:

<a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/federalbank/FB">Federal Bank</a> was the top gainer on the index, rising more than 3 percent to trade at Rs 199.49 apiece. <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/indusindbank/IIB">IndusInd Bank</a>, IDFC First Bank, <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/hdfcbank/HDF01">HDFC Bank</a>, ICICI Bank and <a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/canarabank/CB06">Canara Bank</a> shares meanwhile gained around 1 percent each.

Bucking the trend, the shares of Punjab National Bank (<a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/punjabnationalbank/PNB05">PNB</a>) and AU Small Finance Bank shares were trading in the red with marginal losses. State Bank of India (<a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/statebankindia/SBI">SBI</a>) and Kotak Mahindra Bank shares dropped over 1 percent each, while <a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/bankbaroda/BOB">Bank of Baroda</a> shares dropped around 2 percent. <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/axisbank/AB16">Axis Bank</a> shares emerged as one of the top losers on the market today after falling more than 2 percent.

Earlier during the day, the index had gained further, rising more than 400 points (0.7 percent) to hit an intraday high of 56,502.45. It later pared gains to close at 56,239.35 as investors may have resorted to profit booking at elevated levels.

'Breakout above 56,200 can propel it towards 57,000'

"From a technical perspective, the Nifty decisively breached the key resistance at 25,200, potentially paving the way toward the 25,500 mark, while immediate support rests at 25,000. Similarly, Bank Nifty faces resistance at 56,500, and a breakout above this level could propel it toward 57,000, with the nearest support positioned at 56,200," said Ashika Institutional Equities.

Axis Securities in its report had said that the trend-deciding level for the day is 55,999. If Bank Nifty trades above this level, it may rally up to 56,270-56,436-56,707 levels. However, if it trades below 55,999 levels, we may witness profit booking in the market, and the index may correct up to 55,833-55,562-55,396 levels.

Hardik Matalia, Derivative Analyst of Research at Choice Equity Broki, had said that if Bank Nifty crossed the 56,000 level, 56,200 would be the initial key resistance, followed by 56,300 and 56,400.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-07-10-2025-liveblog-13600204.html">Our LIVE blog on stock market updates</a>

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.

Bank Nifty rises for 6th day as Federal Bank, HDFC jump up to 3%: What lies ahead?

The Nifty Bank index recorded gains on October 7, extending its gaining streak to the sixth session. Analysts have advised key levels to watch out for the index, breaking which, it can rally further.

The Nifty Bank index gained around 134.5 points (0.24 percent) to close at 56,239. This is the highest level seen by the index in more than three months.

Top gainers on Nifty Bank:

Federal Bank was the top gainer on the index, rising more than 3 percent to trade at Rs 199.49 apiece. IndusInd Bank, IDFC First Bank, HDFC Bank, ICICI Bank and Canara Bank shares meanwhile gained around 1 percent each.

Bucking the trend, the shares of Punjab National Bank (PNB) and AU Small Finance Bank shares were trading in the red with marginal losses. State Bank of India (SBI) and Kotak Mahindra Bank shares dropped over 1 percent each, while Bank of Baroda shares dropped around 2 percent. Axis Bank shares emerged as one of the top losers on the market today after falling more than 2 percent.

Earlier during the day, the index had gained further, rising more than 400 points (0.7 percent) to hit an intraday high of 56,502.45. It later pared gains to close at 56,239.35 as investors may have resorted to profit booking at elevated levels.

'Breakout above 56,200 can propel it towards 57,000'

&quot;From a technical perspective, the Nifty decisively breached the key resistance at 25,200, potentially paving the way toward the 25,500 mark, while immediate support rests at 25,000. Similarly, Bank Nifty faces resistance at 56,500, and a breakout above this level could propel it toward 57,000, with the nearest support positioned at 56,200,&quot; said Ashika Institutional Equities.

Axis Securities in its report had said that the trend-deciding level for the day is 55,999. If Bank Nifty trades above this level, it may rally up to 56,270-56,436-56,707 levels. However, if it trades below 55,999 levels, we may witness profit booking in the market, and the index may correct up to 55,833-55,562-55,396 levels.

Hardik Matalia, Derivative Analyst of Research at Choice Equity Broki, had said that if Bank Nifty crossed the 56,000 level, 56,200 would be the initial key resistance, followed by 56,300 and 56,400.

Also read: Our LIVE blog on stock market updates

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.

Shares of city gas distribution company Indraprastha Gas (IGL) ended sharply higher by more than 5 percent on October 7 on anticipation of benefit from a lower rate of tax on sourcing of gas from Gujarat.

CNBC-Awaaz has reported that the tax implication on gas sourced from Gujarat will be lower effect October 1, attracting 2 percent Central Sales Tax (CST) instead of 15 percent VAT which was charged earlier.

An Equirus note has said that <a href="https://www.moneycontrol.com/india/stockpricequote/oil-drillingexploration/indraprasthagas/IG04">IGL</a> is expected to be a key beneficiary from this development. According to some analysts, the change in tax implication is expected to improve IGL's EBITDA by 18-22 percent.

Shares of Gail India too ended near the day's high after the development while MGL ended 2 percent higher.

The state of Gujarat used to levy 15% VAT on all gas sold within the state - both APM as well as imported LNG. After October 1, ONGC has started to levy lower tax for inter-state sale of gas to CGDs, fertilizer companies and power plants. Previously, a higher rate of 15 percent was levied, which was non-refundable, if sold or used outside of Gujarat, which led to a higher delivered cost on gas sold to out-of-state buyers.

IGL had previously represented to the state government to reduce this tax implication and during the June quarter earnings call, KK Chatiwal, the managing director of the company had expressed hope of some progress on the issue in 3-4 months.

During Q1FY26, IGL posted a 6% on-year rise in overall volumes, driven by 6% growth in CNG and 10% growth in PNG segment. Adjusting for a one-time hit of Rs 114 crore in Q4FY25 pertaining to settlement with oil marketing
companies, the EBITDA per SCM for IGL had increased by 33% and stood at Rs 6.16 per SCM in Q1FY26.

The management had said in June that it expected further upside in EBITDA margin for IGL once the tariff rationalization took effect. "...the EBITDA margin should improve, and the long-term guidance has always been
Rs 7-8. So, we should be in that range. I think even some of the tax rationalization discussions are going on with some states. So, we are hopeful that we should be in the upper range of that going forward...," Chatiwal had said after the June quarter earnings call.

IGL shares rally on hopes of margin benefit after tax relief lowered sourcing cost in Gujarat

Shares of city gas distribution company Indraprastha Gas (IGL) ended sharply higher by more than 5 percent on October 7 on anticipation of benefit from a lower rate of tax on sourcing of gas from Gujarat.

CNBC-Awaaz has reported that the tax implication on gas sourced from Gujarat will be lower effect October 1, attracting 2 percent Central Sales Tax (CST) instead of 15 percent VAT which was charged earlier.

An Equirus note has said that IGL is expected to be a key beneficiary from this development. According to some analysts, the change in tax implication is expected to improve IGL's EBITDA by 18-22 percent.

Shares of Gail India too ended near the day's high after the development while MGL ended 2 percent higher.

The state of Gujarat used to levy 15% VAT on all gas sold within the state - both APM as well as imported LNG. After October 1, ONGC has started to levy lower tax for inter-state sale of gas to CGDs, fertilizer companies and power plants. Previously, a higher rate of 15 percent was levied, which was non-refundable, if sold or used outside of Gujarat, which led to a higher delivered cost on gas sold to out-of-state buyers.

IGL had previously represented to the state government to reduce this tax implication and during the June quarter earnings call, KK Chatiwal, the managing director of the company had expressed hope of some progress on the issue in 3-4 months.

During Q1FY26, IGL posted a 6% on-year rise in overall volumes, driven by 6% growth in CNG and 10% growth in PNG segment. Adjusting for a one-time hit of Rs 114 crore in Q4FY25 pertaining to settlement with oil marketing
companies, the EBITDA per SCM for IGL had increased by 33% and stood at Rs 6.16 per SCM in Q1FY26.

The management had said in June that it expected further upside in EBITDA margin for IGL once the tariff rationalization took effect. &quot;...the EBITDA margin should improve, and the long-term guidance has always been
Rs 7-8. So, we should be in that range. I think even some of the tax rationalization discussions are going on with some states. So, we are hopeful that we should be in the upper range of that going forward...,&quot; Chatiwal had said after the June quarter earnings call.

Shares of InterGlobe Aviation Ltd, which operates budget carrier IndiGo, fell on Tuesday after brokerages projected weak earnings for the September quarter.

On the NSE, <a href="https://www.moneycontrol.com/india/stockpricequote/transportlogistics/interglobeaviation/IA04">IndiGo</a> declined 1.5 percent to Rs 5,641.5 per share on the NSE following muted growth expectations from analysts.

Brokerage firm Investec maintained its sell rating on the stock with a target price of Rs 4,050 per share. The brokerage said the airline is set for another weak quarter and expects a pre-tax loss of about Rs 1,000 crore in Q2.

"Slower capacity growth will keep profitability under pressure. Modest yield gains and lower fuel costs should provide partial relief. With index inclusion behind, we expect the stock to realign with earnings fundamentals," Investec noted in its report.

Meanwhile, brokerage Citi said it expects moderation in IndiGo’s July–September performance, primarily due to lower supply rather than weak demand, NDTV Profit reported in a post on X. The brokerage retained its ‘buy’ call on the stock with a target price of Rs 7,100, indicating a potential upside of nearly 25 per cent from 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.

A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

IndiGo shares decline as brokerages see muted Q2 earnings growth for airline

Shares of InterGlobe Aviation Ltd, which operates budget carrier IndiGo, fell on Tuesday after brokerages projected weak earnings for the September quarter.

On the NSE, IndiGo declined 1.5 percent to Rs 5,641.5 per share on the NSE following muted growth expectations from analysts.

Brokerage firm Investec maintained its sell rating on the stock with a target price of Rs 4,050 per share. The brokerage said the airline is set for another weak quarter and expects a pre-tax loss of about Rs 1,000 crore in Q2.

&quot;Slower capacity growth will keep profitability under pressure. Modest yield gains and lower fuel costs should provide partial relief. With index inclusion behind, we expect the stock to realign with earnings fundamentals,&quot; Investec noted in its report.

Meanwhile, brokerage Citi said it expects moderation in IndiGo’s July–September performance, primarily due to lower supply rather than weak demand, NDTV Profit reported in a post on X. The brokerage retained its ‘buy’ call on the stock with a target price of Rs 7,100, indicating a potential upside of nearly 25 per cent from 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.

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

Gainers/Losers

Industry Market Map

Earnings Review-Q2 FY25-26

Stock News

Vijay Kedia-owned firm picks 1% stake in Eimco Elecon, Lighthouse India offloads 2.9% shares in Ashish Kacholia-backed plastics products maker

FMCG stocks drop for 2nd day; Elara Capital says monsoon, GST transition to cloud Q2 sales

Bank Nifty rises for 6th day as Federal Bank, HDFC jump up to 3%: What lies ahead?

IGL shares rally on hopes of margin benefit after tax relief lowered sourcing cost in Gujarat

IndiGo shares decline as brokerages see muted Q2 earnings growth for airline

Plastics - Thermoplastics Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Plastics - Thermoplastics industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q2 FY25-26

Stock News

Vijay Kedia-owned firm picks 1% stake in Eimco Elecon, Lighthouse India offloads 2.9% shares in Ashish Kacholia-backed plastics products maker

FMCG stocks drop for 2nd day; Elara Capital says monsoon, GST transition to cloud Q2 sales

Bank Nifty rises for 6th day as Federal Bank, HDFC jump up to 3%: What lies ahead?

IGL shares rally on hopes of margin benefit after tax relief lowered sourcing cost in Gujarat

IndiGo shares decline as brokerages see muted Q2 earnings growth for airline

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