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stock market turmoil as major companies hit 52 week lows
On January 13, 2025, the stock market faced significant pressure, with 295 securities hitting 52-week lows. Notable declines included Life Insurance Corporation (LIC) at ₹823.7, Adani Wilmar at ₹267.1, Olectra Greentech at ₹1,268.1, and Tata Steel at ₹124.18, amid various industry challenges and competitive pressures. The NIFTY 50 index fell 1.06%, while the BSE SENSEX dropped 0.93%, reflecting widespread losses across sectoral indices.
relaxo footwears faces challenges as revenue declines and market share concerns rise
Relaxo Footwears reported a 5% YoY revenue decline, with a 6% increase in average selling price offset by a 10% drop in volume due to subdued demand and competition from unorganized players. Despite a 310bp YoY gross margin expansion, EBITDA and PAT fell by 4% and 17% respectively. The company has adjusted its FY25/26 revenue and profit estimates downward, while maintaining a long-term growth outlook with a target price of Rs 680 and a Neutral rating.
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