The ₹1,100-crore initial public offering of PN Gadgil Jewellers opens today in the ₹456-480 price band. The Maharashtra-based company’s IPO is a combination of a fresh issue of equity shares worth up to ₹850 crore and an offer for sale (OFS) of equity shares to the tune of ₹250 crore by a promoter SVG Business Trust….
Jefferies on Axis Bank Buy Call, Target Rs 1,500 Credit Cost To Normalise; Prefer NIMs Over Growth Co Reassured That Surge In Credit Costs In Q1 Can Normalise Credit Cost To Normalise Even As Conservative Provisioning Policy On Unsecured Loans Upfronts Deposit Growth Is Slower But Bank Is Managing Funding-Cost Better That Helps To Holdon…
The GST Council that met on Monday decided to reduce the GST rate on certain cancer drugs from 12 per cent to 5 per cent, aimed at reducing the overall cost of cancer treatment. Those drugs are Trastuzumab Deruxtecan, Osimertinib, and Durvalumab. In another decision, GST rate has been reduced prospectively from 18 per cent…
The initial public offering from the Bajaj group, Bajaj Housing Finance, was well received by all category of investors on Day 1 itself. The IPO has been subscribed 2.02 times overall so far. It was subscribed within a few hours of opening on Monday. The ₹6,560-crore IPO comes at a price band of ₹66-70. Interestingly, QIBs,…
The ₹230-crore IPO from Kerala-based Tolins Tyres saw a strong response from investors on Day 1 of issue opening itself. The issue was subscribed 1.80 times so far, as retail investors shown keen interest. The retail portion was subscribed 3.17 times while that of QIBs and NIIs (non-institution) 0.13 times and 0.82 times respectively. The…
Jefferies has issued a “Buy” call on GMR Airports, setting a target price of ₹106, citing the Delhi International Airport (DIAL) deal as attractively priced. The brokerage notes that over 50 per cent of its valuation for GMR Airports in its sum-of-the-parts (SOTP) valuation comes from DIAL, in which the Airports Authority of India (AAI)…
Sprayking Limited, formerly known as Sprayking Agro Equipment Limited, announced today the purchase of advanced finishing machinery from China valued at ₹21.69 million. The brass components and parts manufacturer anticipates the delivery and installation of the machinery within 60 days. The shares of Sprayking were trading at ₹17.25 up by ₹0.29 or 1.71 per cent…
JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, has been awarded a 600 MW wind-solar hybrid power project by Maharashtra State Electricity Distribution Company Limited (MSEDCL). The project, part of MSEDCL’s Phase IV initiative, includes 400 MW allocated under a green shoe option. The shares of JSW Energy Limited were trading at…
Jash Engineering Limited announced in August that it has secured ₹49 crore worth of new orders. The company revealed today that ₹32 crore of these orders are for international markets, while ₹17 crore are for the Indian market. The shares of Jash Engineering Limited were trading at ₹2,015.50 down by ₹14.80 or 0.73 per cent…
The Finance Ministry intends to bring clarity in qualification norms for stockbrokers. Accordingly, it has come out with a consultation paper for changes in Securities Contracts (Regulation) Rules, or SCRR, 1957. “Given the growth in the scale and interconnectedness of the financial sector and the evolution of brokerage business from a traditional brick-and-mortar model to…
