Can a new PI Industries emerge from the ashes of the old
Market pulse
Indian markets charted a divergent course, as a sharp downturn in the IT sector pulled the Nifty down over half a percent to close at 24,208. Bucking the trend, the banking index posted modest gains while select stocks like SBFC, Jindal Saw, and IDBI Bank surged over seven percent each.
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@aditya_kondawar · on X
Dixon Technologies has partnered with BITS Pilani to launch a center of excellence, which will offer an M.Tech program starting in August. This program will specifically focus on areas like display, optics, and artificial intelligence, as noted by Aditya Kondawar. The collaboration highlights a direct link between manufacturing industry leaders and academic institutions to cultivate specialized talent.
The story on the street for PI Industries, a stock down over 33 percent in the past year, has become a tale of two companies. Investors see the old PI, where one molecule, pyroxasulfone, faced patent expiries and partner sales downgrades. But the focus is shifting to the PI being rebuilt. This new version is defined by diversification into pharma, electronic chemicals, and biologicals, including the 2024 acquisition of Plant Health Care. A key development is Pioxaniliprole, India's first indigenously discovered insecticide, which helps pivot the narrative from a single product's troubles to a future of broader, homegrown innovation.