MAM
Media stocks slightly lower than their last week levels
MUMBAI: The week witnessed heavy volatility and the 30-stock BSE Sensex fell by 16.63 points, or 0.56 per cent to dip to 2,950. The frontline stocks lost ground even as there was interest in mid-cap stocks and companies. Amongst the media stocks, companies such as ETC Networks and Creative Eye have gained whereas others dipped from their last week price levels.
On 9 May, Zee Telefilms opened the day on the Bombay Stock Exchange (BSE) at Rs 78.65 dropped 3.38 per cent to end the day at Rs 75.60 ( as compared to Rs 76.55 on 2 May). The euphoria over the results declared on 28 April 2003 continues and has managed to ensure that the price remained over the Rs 70-mark. The volume of shares trades was around 2.74 million shares on 9 May.
At the National Stock Exchange (NSE), the Zee Telefilm scrip started the day (2 May) at Rs 78.40; fell by 4.38 per cent to end the day at Rs 75.40 (Rs 76.75 on 2 May). The volume of shares traded was around 5.35 million.
The Balaji Telefilms scrip opened the day (9 May 2003) at Rs 60.3; dropped 0.91 per cent and ended the day at Rs 59.75 (as compared to Rs 64.90 on 2 May). The volume traded was 38,559 shares.
On the NSE, the scrip opened the day at Rs 60.00; fell by 0.42 per cent to end the day at Rs 59.65 (as compared to Rs 65 on 2 May). Balaji Telefilms annual results will be announced on 22 May.
The Television Eighteen India scrip opened at Rs 72.65 on 9 May, dropped 2.20 per cent to Rs 71.05 (as compared to Rs 74.95 on 2 May) on the BSE. On the NSE, it opened at Rs 73.00, dropped 2.34 per cent Rs 70.90 ( as compared to Rs 74.60 on 2 May).
Sri Adhikari Brothers Television Network (SABTNL) opened the day (9 May) at Rs 54.70; dropped 0.46 per cent to end the day at Rs 54.45 (as compared to Rs 56.05 on 2 May). On the NSE, the scrip ended the day at Rs 54.40 (down 1.00 per cent) as compared to Rs 55.75 on 2 May.
Cinevistaas opened the day (9 May) at Rs 26.05; dropped by a huge 9.79 per cent to end the day at Rs 23. 50 – as compared to Rs 24.40 on 2 May on the BSE. On the NSE, the scrip opened at Rs 25.90; dropped by 3.59 per cent to end the day at Rs 25.50.
Creative Eye opened the day (9 May) at Rs 12.20 and dropped by 5.33 per cent to Rs 11.55 on the BSE. On the NSE, the scrip dropped by 6.50 per cent to end the day at Rs 11.50.
The ETC Networks scrip rose opened the day at Rs 44.85; rose by 0.33 per cent to end the day at Rs 45 ( as compared to Rs 38.85 on the BSE on 2 May).
Brands
Estée Lauder to shed 10,000 jobs as new boss bets on digital shift
The cosmetics giant raises its profit outlook but stays silent on a possible merger with Spain’s Puig, as job cuts deepen and a three-year sales slump weighs on the turnaround
NEW YORK: Stéphane de La Faverie is not done cutting. Estée Lauder announced on Friday that it plans to eliminate as many as 3,000 additional jobs, taking its total redundancy programme to as many as 10,000 roles, up from a previous target of 7,000 announced a year ago. The company, which owns La Mer, The Ordinary, Tom Ford, and Aveda, employs roughly 57,000 people worldwide. The mathematics of what is now being contemplated is stark.
The fresh round of cuts is expected to generate a further $200 million in savings, bringing the total annual savings from the programme to as much as $1.2 billion before taxes. That money, De La Faverie has made clear, will be ploughed back into the turnaround.
A CEO in a hurry
De La Faverie, who took the helm in January 2025, inherited a company that had endured three consecutive years of annual sales declines. His response has been to move fast and cut deep. A significant portion of the latest redundancies reflects his push to reduce headcount at US department stores, long a cornerstone of Estée Lauder’s distribution model but now a channel in structural decline. In their place, he is accelerating the shift toward faster-growing online platforms, including Amazon.com and TikTok Shop, a pivot that is reshaping not just where Estée Lauder sells but how it thinks about its customers.
The numbers are moving in the right direction
Despite the pain, there are signs the medicine is working. Estée Lauder raised its profit outlook for the remainder of the fiscal year, guiding for adjusted earnings per share in the range of $2.35 to $2.45, above analyst estimates and a notable step up from the $2.05 to $2.25 range it had guided for in February. Organic net sales growth is expected to come in at 3 per cent, the company said, at the high end of the range it set out in February.
The share price tells a mixed story. After De La Faverie took charge, the stock surged nearly 60 per cent, buoyed by investor optimism that a longtime company insider could finally arrest the decline. But 2026 has been rougher: the shares have fallen 27 per cent this year, weighed down by disappointing February results and the overhang of unresolved merger talks with Spanish beauty giant Puig Brands SA. The company gave no additional details about those discussions on Friday, leaving the market to guess.
Silence on Puig
The proposed tie-up with Puig remains the most consequential unknown hanging over Estée Lauder. A deal with the Barcelona-based group, which owns brands including Carolina Herrera and Rabanne, would reshape the global luxury beauty landscape. But with nothing new to say and a turnaround still very much in progress, De La Faverie is asking investors to trust the process.
Three years of sales declines, 10,000 job cuts, and a merger that may or may not happen. At Estée Lauder, the overhaul has barely started.
