VIP Industries: June was a seasonally strong quarter for the luggage industry. It began well in April due to the holiday season but demand tapered in May due to Indo-Pak border tensions.
VIP Industries shares have delivered 70 per cent return in the past five years against 159 per cent jump in the BSE500 during the same period.
VIP Industries shares ended 1.20% lower at Rs 444.30 on BSE in the previous session. VIP Industries shares opened lower at Rs 448.30 against the previous close of Rs 449.70.
Gujarat Pipavav Port Ltd, Gujarat Gas Ltd, VIP Industries Ltd and TTK Prestige Ltd were among BSE500 stocks seeing MF and FPI selling. Three of the eight stocks delivered double-digit returns in year that saw BSE500 index surging 40 per cent.
VIP Industries share price: The stock soared 14.71 per cent to hit a high of Rs 534.10 in Thursday's trade. Brokerage Prabhudas Lilladher (PL) has upgraded its rating on the stock to 'Buy' from earlier 'Hold'.
VIP Industries shares fell 5.66% intraday to a yearly low of Rs 513.25 on BSE today. Market cap of VIP Industries slipped to Rs 7751.81 crore.
VIP Industries said based on the recommendation of the nomination and remuneration committee, the board of directors on August 15 appointed Neetu Kashiramka as the MD designate and Chief Financial Officer.
Stocks in focus today: Indian stock market direction in the upcoming days will be influenced by key data points, including auto sales figures, US PMI, and US job data. IOCL, Adani Wilmar, Titan Company, Adani Total Gas, Tata Motors, L&T among stocks in news on Tuesday, August 2, 2023.
VIP Industries shares opened higher at Rs 635.05 against the previous close of Rs 633.10 on BSE. Later, they zoomed 2.04% to Rs 646 on BSE.
Allsec Technologies (Rs 20 per share dividend), Crisil (Rs 10 per share), Navin Fluorine International (Rs 5 per share), Indian Metals & Ferro Alloys (Rs 5 per share), VIP Industries (Rs 2.5 per share), TCI (Rs 2.5 per share) and Vaibhav Global (Rs 1.5 per share) will go ex-dividend today.
The world’s second-largest luggage company is targeting a 45 per cent market share during this financial year and reducing dependency on China for input raw materials, says Dilip G Piramal, Chairman of VIP Industries.