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GSP Crop Science subscribed 1.61 times

GSP Crop Science subscribed 1.61 times

by | Mar 18, 2026 | Share Market


The offer received bids for 1.43 crore shares as against 89.47 lakh shares on offer.

GSP Crop Science received bids for 1,43,61,844 shares as against 89,47,367 shares on offer, according to stock exchange data at 17:30 IST on Wednesday (18 March 2026). The issue was subscribed 1.61 times.

The issue opened for bidding on 16 March 2026 and it will close on 18 March 2026. The price band of the IPO is fixed between Rs 304 and 320 per share. An investor can bid for a minimum of 48 equity shares and in multiples thereof.

The Rs 400 crore IPO comprises a fresh issue of 75,00,000 equity shares to raise Rs 240.0 crore and an offer for sale (OFS) of up to 50,00,000 equity shares worth up to Rs 160 crore at higher price band of Rs 320. Vilasben Vrajmohan Shah, Bhavesh Vrajmohan and kappa will offload a part of his their stake in the OFS.

 

GSP will utilise Rs 170.0 crore from the net fresh issue proceeds for repayment of its borrowings, and the remaining funds will be utilised for general corporate purposes.

Ahead of the IPO of GSP Crop Science on 13 March 2026, the company raised Rs 120 crore from anchor investors by allotting 37.50 lakh shares at Rs 320 each to 3 anchor investors.

GSP Crop Science (GSP) is an agrochemical company engaged in the business of manufacturing insecticides, herbicides, fungicides and plant growth regulators. It provides crop protection solutions to help farmers increase productivity, offering formulations (active ingredients and additives) and technicals (concentrated active ingredients) for effective pest, weed, and disease control.

The company offers a diverse portfolio of in-house manufactured agrochemicals, providing crop protection solutions through the development, manufacturing, supply, and distribution of formulations and technicals to meet customer needs.

For six months ended September 30,2026, the company earned 82.9% of its revenues from sale of generic products and the balance 17.1% from sales of patented products.

During the six months ended 30 September 2025, the firm recorded a consolidated net profit of Rs 82.78 crore and sales of Rs 844.29 crore.

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Cabinet approves MSP funding to CCI for for direct support to cotton farmers

by | Mar 18, 2026 | Share Market


Last Updated : Mar 18 2026 | 5:50 PM IST

Cabinet Committee on Economic Affairs has approved Minimum Support Price (MSP) funding of Rs.1,718.56 crore to the Cotton Corporation of India (CCI) for the cotton season 202324. This funding aims to provide direct price support to cotton farmers across the country. The MSP operations are undertaken to safeguard the interests of cotton farmers, particularly during periods when market prices fall below the MSP. Cotton remains one of Indias most vital cash crops, sustaining the livelihoods of approximately 60 lakh farmers and supporting 400500 lakh people engaged in allied activities, including processing, trade, and textiles. During the 202324 cotton season, the area under cultivation was estimated at 114.47 lakh hectares, with production pegged at 325.22 lakh bales, accounting for nearly 25% of global cotton output.

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First Published: Mar 18 2026 | 5:50 PM IST



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Rupee hits record low at 92.63 as oil prices surge, capital outflows rise

Rupee hits record low at 92.63 as oil prices surge, capital outflows rise

by | Mar 18, 2026 | Share Market



The Indian rupee fell to a record low on Wednesday, extending a rough patch as the raging conflict in the Middle East kept oil prices elevated, sparking capital outflows and raising macroeconomic risks for Asia’s third-largest economy.

 


The rupee closed at 92.63 per dollar, eclipsing its previous lifetime low of 92.4750 hit last week.

 


The currency has declined more than 1.5 per cent since the Iran war began amid nearly $8 billion of foreign portfolio outflows from local stocks. Frequent interventions by the central bank, including on Wednesday, have been curbing the fall in the rupee, traders said.

 
 


Brent crude has climbed about 40 per cent since the Middle East war broke out and a sustained rise could widen India’s current account deficit and fuel inflation, leaving the rupee more exposed than many of its peers.

 


India imports over 80 per cent of its energy needs and the conflict threatens to curb remittances from the diaspora and hurt exports to the region.

 


With oil around $100 per barrel, the pressure on the rupee will likely continue until tensions ease, Dhiraj Nim, an economist and FX strategist at ANZ, said.

 


“The RBI will be able to defend against speculation, but insofar as high oil prices will weaken the balance of payments, the RBI may not be adamant to hold the INR.” Demand for dollars at the daily reference rate and a pick-up in importer hedging once the 92.50 level was breached also hurt the rupee.


HEIGHTENED VULNERABILITY


Risks from the conflict, which shows no signs of ebbing, have prompted banks to pitch cross-currency trades targeting the rupee’s underperformance against Asian peers such as the Chinese yuan and Singaporean dollar.

 


Data from the options market points to a surge in trades that bet on further near-term weakness.

 


Analysts expect the yuan and Singapore’s dollar to outperform peers while the rupee and the Thai baht lag while the conflict lasts. Persistently high energy prices could push the currency beyond 95 per dollar, according to analysts.

 


Investors now await the US Federal Reserve’s policy decision later in the day. With no change expected, all eyes will be on the assessment of the impact that the war will have on growth and inflation.

 


India’s FX and debt markets will be closed for a local holiday on Thursday. Equity markets will be open.



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India Ratings and Research assigns 'AA/A1+' rating to credit facilities of Godrej Agrovet

by | Mar 18, 2026 | Share Market


Godrej Agrovet (GAVL) said that India Ratings and Research has assigned ‘IND AA/IND A1+’ rating to the bank loan facilities with ‘stable’ outlook.

India Ratings and Research stated that the rating reflects GAVLs strong business profile, supported by its diversified product mix with a presence in multiple segments in the agri-value chain, including oil palm, animal feed, crop protection and agrochemicals, dairy, poultry, among others.

This limits the companys reliance on a particular segment, mitigating the risk of segmental downturns on the overall EBITDA.

GAVLs operating performance has been strong, with its EBITDA expanding at a CAGR of 11% over FY20-FY25, led by steady growth in revenue and margins with increased salience of value-added products in the overall revenue mix.

 

The companys consolidated EBITDA margins expanded during 9MFY26, driven by improved realisations in the vegetable oil segment.

The agency believes that while a correction in prices could lead to some moderation in profitability, overall margins are likely to remain healthy in the near to medium term.

India Ratings expects the consolidated credit metrics to remain comfortable over the near to medium term, despite its net debt likely increasing in FY26 following the company spending around Rs 7 billion to acquire the balance 37.25% stake in its subsidiary, Creamline Dairy Product (CDPL).

The agency expects the consolidated net leverage to gradually reduce over FY27-FY28 after peaking in FY26.

GAVL also benefits from the strong parentage and the well-established Godrej brand, which supports its financial flexibility.

The rating is, however, constrained by the susceptibility of the EBITDA to volatility in raw material prices, given the companys limited pricing power across most segments.

Additionally, these segments are vulnerable to weather conditions and government regulations.

Godrej Agrovet, a part of the Godrej group, is a subsidiary of Godrej Industries, which held a 64.96% stake in the former as on 31 December 2025. GAVL operates in three main business areas: animal feed, vegetable oil (particularly palm oil), and crop protection. Through its subsidiaries, the company is involved in various businesses such as agrochemicals (ALL), dairy (CDPL), processed poultry and vegetarian food products (Godrej Foods), and in-vitro production of high-quality milk-yielding cows.

The scrip had added 2.31% to end at Rs 590.10 on the BSE today.

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INR crashes to new record low beyond 92.60 mark; Positive equities fail to cap losses

by | Mar 18, 2026 | Share Market


Last Updated : Mar 18 2026 | 4:31 PM IST

The Indian rupee crashed to fresh lifetime lows on Wednesday, weighed down by a stronger greenback and sustained FII outflows. The rupee slumped 27 paise to close at a record low of 92.67 (provisional) against the US dollar on Wednesday. Elevated crude oil prices in global markets amid intensifying conflict in West Asia further dampened sentiments. Indian shares ended higher for a third consecutive session but failed to cap losses in the counter. The Sensex rose 633 points to close at 76,704 and the Nifty gaining 197 points to settle at 23,778. At the interbank foreign exchange, the local unit opened at 92.42 against the greenback and traded in the range of 92.41-92.48 for most of the session before losing ground at the fag end to close at its record low.

 

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First Published: Mar 18 2026 | 4:31 PM IST



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Hexaware Technologies rises on launch of Agentverse Enterprise AI platform

by | Mar 18, 2026 | Share Market


Hexaware Technologies surged 7.37% to Rs 436.55 after the company announced the launch of Agentverse, an enterprise AI agent platform designed to accelerate the adoption of agentic AI across business and technology operations.

The platform features over 600 ready-to-deploy AI agents and is aimed at helping enterprises move from pilot-stage experimentation to large-scale production deployment. It enables orchestration of multiple AI agents across enterprise systems, workflows, and communication channels.

Agentverse integrates with key enterprise platforms such as CRM systems, IT service management tools, data platforms, telephony systems and collaboration applications. It also includes governance features such as role-based access controls, audit trails and policy guardrails to ensure secure and compliant operations.

 

The company said the platform can deliver productivity gains of 40% to 60%, reduce response times by up to 80% and lower operational costs through automation. It supports use cases across customer experience, financial services, manufacturing, retail and enterprise functions.

The launch forms part of Hexawares broader strategy to embed AI across technology and business processes, with a focus on scalable and outcome-driven deployments.

Agentverse is how we take autonomy into day-to-day operations. clients can move beyond pilots to measurable results in cycle time, accuracy, and customer satisfaction, said R Srikrishna, CEO & Executive Director, Hexaware.

Hexawares Agentverse is built for outcomes and scale. We standardize how agents connect to enterprise plaƞorms, enforce policy, and prove value with clear KPIs, so customers can expand from one use case to many, said Siddharth Dhar, President & Global Head Artificial Intelligence, Hexaware.

Hexaware Technologies is a global digital and technology services company. It serves a diverse range of customers, including 30+ Fortune 500 organizations.

On a consolidated basis, reported profit declined 9.1% YoY to Rs 291.6 crore in Q4CY25, compared with Rs 320.7 crore in Q4CY24. On a sequential basis, reported profit fell 21.2% QoQ from Rs 369.9 crore in Q3CY25. Revenue in rupee terms rose 10.3% YoY to Rs 3,478.2 crore in Q4CY25, compared with Rs 3,154.4 crore in Q4CY24. On a quarter-on-quarter basis, revenue was marginally lower by 0.2% from Rs 3,483.6 crore in Q3CY25.

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