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Inventurus Knowledge Solutions has set a price band of Rs 1,265-1,329 per share for its IPO, with anchor investor bidding starting on December 11. The allotment will be finalized by December 15, and the stock is expected to list on exchanges on December 19. This IPO is a pure offer-for-sale, with existing promoters and shareholders selling shares worth up to Rs 2,497 crore, leading to a projected market capitalization of approximately Rs 22,802 crore at the upper price band.
HSBC has initiated coverage on Swiggy with a 'Hold' rating, while Nuvama has given a 'Buy' recommendation for Zen Tech. Goldman Sachs is optimistic about Westlife, projecting a target of ₹1,045 per share, citing menu interventions and expected same-store sales growth recovery. Citi highlights potential catalysts in the oil and gas sector, including possible GST inclusion for gas and lower CNG excise, while Jefferies notes strong returns for Indian CRO/CDMO stocks, with upcoming legislative actions likely to impact volatility.
Pine Labs has selected five investment banks, including Axis Capital, Morgan Stanley, Citigroup, JP Morgan, and Jefferies, to advise on its upcoming $1 billion IPO, expected in the first half of FY26. Axis Capital is the sole domestic banker, reflecting the company's strong ties with Axis Bank. IPO preparations are currently underway, although Pine Labs has not responded to inquiries regarding the matter.
UBS maintains a "Neutral" rating on Apple with a price target of $236, reflecting recent data on iPhone 16 availability. Meanwhile, JPMorgan upgraded Apple to "Overweight" with a target of $265, as the company navigates various market challenges and opportunities. In related news, an Apple insider sold over $45 million in shares, and the company is facing a $3.80 billion antitrust lawsuit regarding iCloud storage.
City gas distributors are facing significant challenges as the government has cut supplies of cheaper domestic natural gas for CNG retailers by 20% twice since October. Allocations have plummeted from 154% in FY21 to around 30-35% today, with predictions that domestic gas could be phased out by mid-2025. This shift forces distributors to rely on imported gas, which is twice as expensive, raising concerns about their pricing power and the sector"s future viability.
Chris Wood of Jefferies remains optimistic about India's economic prospects, projecting 6-8% real GDP growth and 10-12% nominal GDP growth over the next five years, despite the global impacts of Donald Trump's election. He advises monthly investments in India as a sensible strategy, while noting that Trump's victory has created negative headwinds for emerging markets due to a stronger dollar.
Jefferies
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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