Stories
Allcargo Logistics, Ola Electric Shares Dip Amid Corporate Shifts and Brokerage Calls
- •Allcargo Logistics shares fell 2% following MD & CEO Ketan Kulkarni's resignation, effective December 31, 2026, to become Chief Growth Officer within the Allcargo Group from January 1, 2027.
- •Ola Electric's share price declined 4% after HSBC maintained a 'Reduce' call with a target price of –24/share, citing accelerating battery manufacturing and expected improvements in battery yields.
- •Pidilite Industries shares dropped nearly 2% after partnering with South Korea's Hwaseung Chemical to introduce advanced bonding technologies for India’s footwear industry.
- •Indian Railway Finance Corporation shares decreased 1.5% after signing a –4,200 crore term loan agreement with Damodar Valley Corporation for renewable energy projects.
- •Landmark Cars surged 11% after announcing plans to add a BYD facility in Noida and a Mahindra & Mahindra showroom in Kolkata.
Key Questions Answered
Allcargo Logistics shares shed 2% following the announcement that Managing Director and CEO Ketan Kulkarni is resigning, effective December 31, 2026, to take on the role of Chief Growth Officer within the Allcargo Group. Vijay Nehra has been appointed as the MD Designate and will take over as Managing Director and CEO starting January 1, 2027.
Ola Electric shares declined 4% after HSBC maintained a 'reduce' rating with a target price of ₹24 per share. HSBC noted that while the company's Giga Factory is accelerating battery manufacturing and localisation, battery yields are expected to improve from about 70% to roughly 90% over the next six to nine months.
Pidilite Industries shares fell nearly 2% after entering a strategic partnership with South Korea's Hwaseung Chemical to introduce advanced bonding technologies for India's footwear manufacturing industry. Meanwhile, Landmark Cars shares surged 11% after announcing plans to add a BYD facility in Noida and a Mahindra & Mahindra showroom in Kolkata.
