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Bloomberg Quint
1d
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Unimech Aerospace IPO: Check GMP, Day 2 Subscription Status, Price Band And More
- The grey market is bullish on Unimech Aerospace IPO, with the latest GMP trends suggesting a potential listing day gain of 64.97%.
- Engineering solutions company Unimech Aerospace and Manufacturing Ltd.'s initial public offering has been subscribed 5.08 times so far on its second day of bidding on Tuesday.
- The public offering consists of a fresh issue of Rs 250 crore and an offer-for-sale component of Rs 250 crore.
- The OFS comprises a sale of stake worth up to Rs 45 crore each by Ramakrishna Kamojhala, Mani P and Rajanikanth Balaraman; up to Rs 30 crore by Preetham SV; and up to Rs 85 crore by Rasmi Anil Kumar.
- The equity shares are proposed to be listed on both BSE and National Stock Exchange.
- Net proceeds from the issue, amounting to Rs 32.5 crore, will be used for funding capital expenditure for expansion through purchase of machinery and equipment.
- The company's growth strategies include expanding their facilities, addition of capacities and pursuing strategic acquisitions, as necessary.
- The company reported a nearly twofold rise in net profit at Rs 58.1 crore in fiscal 2024 from Rs 21.2 crore in the previous fiscal.
- The IPO has been subscribed 5.08 times, as of 10:42 a.m.
- The grey market premium of Unimech Aerospace's IPO is Rs 510 as of 5:04 a.m., according to InvestorGain.
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Bloomberg Quint
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142
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Ventive Hospitality IPO: Check GMP, Final Day Subscription Status, Price Band And More
- The initial public offering of Blackstone-backed Ventive Hospitality Ltd was fully subscribed on day two of bidding with a subscription status of 1.63 times on day 3.
- The grey market premium of Ventive Hospitality IPO rose to Rs 54 as of 8:11 a.m, according to InvestorGain.
- The price band of the IPO has been set in the range of Rs 610–Rs 643 per share. The market value at the upper end of the price band is Rs 15,017 crore.
- Panchshil holds a 60% stake in Ventive Hospitality, while Blackstone owns the remaining 40%.
- Ventive Hospitality is a hospitality asset owner primarily focused on luxury offerings across business and leisure segments in India and the Maldives.
- The company operates 2,036 hotel keys across the luxury, upper upscale and upscale segments.
- Ventive Hospitality reported a 27% rise in net profit at Rs 166 crore in the last financial year from Rs 131 crore in the previous fiscal.
- Ventive Hospitality's loss can be attributed to a relatively higher other expenses component of Rs 128 crore during the first half. Revenue stood at Rs 373 crore and operating income was at Rs 164 crore.
- The company plans to use up to Rs 1,400 crore of the share-sale proceeds to fund repayment and prepayments of debts.
- Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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Bloomberg Quint
1d
341
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Navin Fluorine Gets Target Price Upgrade From ICICI Securities; Says New Projects, Ref-Gas To Drive Growth
- ICICI Securities maintains Buy on Navin Fluorine as it expects the company to report strong H2 FY25E with revenue/ Ebitda / PAT growing by 31%/ 90%/ 31% YoY, respectively.
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Bloomberg Quint
1d
368
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Carraro India IPO: Check GMP, Final Day Subscription Status, Price Band And More
- Auto parts manufacturer Carraro India Ltd.'s Rs 1,250-crore initial public offering (IPO) subscription has ended, with the retail basket subscribed only 35% on its second day, and a low grey market premium (GMP) as of Tuesday morning (remain unchanged at nil), implying little to no investor interest.
- The company is a technology-driven integrated supplier specializing in the development of complex engineering products and solutions for original equipment manufacturer clients, with a focus on axles, transmission systems, and gears for construction vehicles and agricultural tractors in India.
- The IPO comprises a pure offer-for-sale of shares worth Rs 1,250 crore with a price band of Rs 668-704 per share.
- Allotment of shares is expected to be finalized on Dec 26, while the tentative date of listing on BSE and NSE is Dec. 30.
- The estimated listing price based on the GMP is Rs 704 a share, implying no gains over the upper limit of the price band.
- For retail investors, the minimum lot size is 21 shares requiring an investment of Rs 14,784 at the upper range of the price band.
- For small non-institutional investors, the minimum investment size is 14 lots, or 294 shares, amounting to Rs 2,06,976, while for large NIIs, it is 68 lots or 1,428 shares, for Rs 10,05,312.
- Carraro's financials reveal that in the fiscal year ending March 2024, the company's revenue was Rs 1,770.5 crore, a 4.4% growth compared to the previous year when it was Rs 1695.12 crore. Furthermore, the IPO's use of proceeds will entirely be a pure offer for sale without any money going toward the company.
- Carraro's listed peers include Escorts Kubota, Schaeffler India, Sona BLW Precision Forgings, Ramakrishna Forgings, Happy Forgings, and Action Construction Equipment.
- The key risks faced by the company includes over 70% of the company's revenue stemming from its top five customers and 86.29% from its top 10 customers, any disruption in those relationships could have a significant negative effect on its business. Additionally, the company relies on other entities within the Carraro Group for operations such as brand licensing, customer sourcing, procurement, R&D, and general support.
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Bloomberg Quint
1d
259
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Senores Pharmaceuticals IPO: Check GMP, Day 3 Subscription Status, Price Band And More
- The grey market premium for Senores Pharmaceuticals IPO remained stable at Rs 230 on the last day of subscription.
- The IPO has been subscribed 17.08 times as of the final day.
- The price band for the IPO is set between Rs 372 and Rs 391 per share.
- Promoters divesting shares in the OFS include Swapnil Jatinbhai Shah, Ashokkumar Vijaysinh Barot, and Sangeeta Mukur Barot.
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Bloomberg Quint
1d
270
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'Buy' Vedant Fashions, Target Price Rs 1600: ICICI Securities
- ICICI Securities maintains 'Buy' rating on Vedant Fashions, sees 18% upside.
- ICICI Securities targets a price of Rs 1600 for Vedant Fashions.
- The stock is expected to have a 18% upside potential.
- Vedant Fashions is the owner of the Manyavar brand.
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Bloomberg Quint
1d
131
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Websol Energy Share Price Hits Life High As Company Orders Equipment For Falta Facility
- Websol Energy System Ltd.'s share price hits a lifetime high as the company orders equipment for its Falta facility.
- The additional capacity of 600 MW Cell line at Falta Plant is expected to be installed and commissioned in the first quarter of 2025-26.
- On October 29, the company announced the commissioning of a 600 MWP Mono PERC bifacial solar cell manufacturing facility and a 550 MWP module manufacturing facility.
- The stock has risen 633.9% year-to-date, reaching its highest level, but the relative strength index suggests the stock may be overbought.
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Bloomberg Quint
1d
157
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Berger Paints Eyes Recovery In New Year Despite Fresh Competition, Demand Slowdown
- Berger Paints aims to maintain its market share and expects a growth turnaround next year, despite new competition and a demand slowdown.
- Birla Opus has captured approximately 3 to 4% market share in the paint industry, but it has not significantly impacted Berger Paints.
- Berger Paints has been affected by price reductions, economic slowdown, and competition, but the CEO is confident in a return to normal growth next year.
- Although profitability and margins may be impacted in the short term, Berger Paints aims to retain its market share and protect against intensifying competition.
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Bloomberg Quint
1d
255
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NACDAC Listing: Most Subscribed SME Stock Makes Bumper Debut At Upper Limit
- Shares of NACDAC Infrastructure Ltd. made a bumper debut on BSE SME with a premium of 90% over the issue price.
- Bidders who were allotted at least one lot of the IPO would have made profits of Rs 1,26,000 with their investment of Rs 1,40,000 turning to Rs 2,66,000.
- The NACDAC Infrastructure IPO became the most subscribed SME IPO in India’s history, with massive oversubscriptions from investors.
- NACDAC Infrastructure Ltd. plans to use the IPO proceeds for working capital requirements and general corporate purposes.
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Bloomberg Quint
1d
304
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TRAI Data - Subscriber Trends Normalise For Bharti Airtel In October 2024: Motilal Oswal
- Reliance Jio's inactive wireless subscribers' cleanup continues; subs recover for Bharti Airtel, according to TRAI data.
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Bloomberg Quint
1d
353
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Stocks To Buy Today: ITC, Devyani International, Sun Pharma, Alkem Labs And More
- Angel One's Singh has recommended buying Star Cement stock at Rs 230 to Rs 232 per share, with a price target at Rs 269. The stop loss for the stock should be at Rs 209. The stock has risen by 37.01% in the past 12 months and crossed over 33.35% in this year to date period.
- SBICAP Securities' Sudeep Shah has suggested buying Amber Enterprises India at Rs 6,900 with a target of Rs 7,150, keeping the stop loss at Rs 6,760. Amber Enterprises share price has risen 127.14% in the past 12 months, and 122.38% year-to-date.
- Shah also has a buy call on pharmaceutical company Jubilant Ingrevia at Rs 800, with a target price of Rs 845. Stop loss for the counter should be pegged at Rs 780.
- Nilesh Jain recommends buying Devyani International stock with the target at Rs 184 and keeping the stop loss at Rs 173. The scrip has fallen 6.49% in the past 12 months.
- Alkem Labs stock has received a 'buy' call from Angel One's Singh. The market expert recommends buying the stock at a price of Rs 5,450, with the target at Rs 5,667 per share and stop loss at Rs 5,337.
- Aditya Arora from Adlytick.in has a buy call on ITC at Rs 474, with a target price of Rs 490. Stop loss for the counter should be pegged at Rs 558. The stock has given 4.04% returns in the past 12 months.
- Arora also recommends buying Sun Pharma stock at Rs 1,815 with the target at Rs 1,865 and then Rs 1,875. He calls for keeping the stop loss at Rs 1,760. The scrip has risen 45.48% in the past 12 months.
- Buy recommendations have been made for ITC Ltd., Devyani International Ltd., Sun Pharmaceutical Industries Ltd., Alkem Laboratories Ltd., and more. These stocks could see an upside of as much as 14% from current levels.
- Of the 23 analysts tracking Alkem Labs stock, 10 recommend 'buy', eight 'hold' and five 'sell'. The consensus 12-month analysts' price target for the share is Rs 5,720.32, implying an upside potential of 4.3%.
- Of the 38 analysts tracking ITC stock, 33 recommend 'buy', three 'hold' and two 'sell'. The consensus 12-month price target for the share is Rs 539.49, implying an upside potential of 13.8%.
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Bloomberg Quint
1d
334
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Life Insurance Sector Check - Navigating The Changes In Surrender Charges: Motilal Oswal
- Motilal Oswal believes that companies with a higher proportion of non-bancassurance channels in their distribution mix like ICICI Prudential, LIC will outperform.
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Bloomberg Quint
1d
349
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Christmas 2024 Bank Holiday: Banks To Remain Shut On Dec. 25 In These States; Full List Here
- Banks across India will remain closed on December 25, 2024, for Christmas celebrations.
- Internet banking and other related services will continue to function without any disruptions.
- In addition to December 25, banks will also remain shut on December 26 in Mizoram, Nagaland, and Meghalaya on account of Christmas celebrations.
- Banks in Nagaland will remain closed from December 24 to December 27 for Christmas celebrations.
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Bloomberg Quint
1d
116
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Stocks To Buy: Maruti Suzuki, Hyundai Motor India, M&M Among Motilal Oswal's Top Picks In Auto OEMs
- Maruti Suzuki is Motilal Oswal's top pick among auto OEMs as it continues to be a play on the rural recovery with attractive valuation.
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Bloomberg Quint
1d
308
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MTNL Share Price Snaps Three-Day Fall As Company Approves Voluntary Retirement Scheme
- MTNL share price snapped its three-day fall and rose following the company's approval of a voluntary retirement scheme
- The company aims to reduce employee costs by offering a voluntary retirement scheme to employees aged 45 years and above
- In the quarter ended September, the company reported an employee benefit expense of Rs 145.96 crore
- Before the rise, the stock had fallen nearly 8% in three sessions
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