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Danish Power's IPO has seen a remarkable response, with its grey market premium (GMP) reaching Rs 265 on the second day of subscription, indicating potential listing gains of nearly 70%. The company plans to utilize Rs 37 crore from the net proceeds to construct a factory shed and enhance its machinery. With a total issue size of Rs 197.90 crore, this IPO marks the largest in the SME segment to date.
TVS Motor reported a 23% year-on-year increase in net profit for Q2, reaching Rs 663 crore, up from Rs 537 crore a year earlier. Despite this growth, shares fell by 4% after the results missed some market expectations. Standalone revenue rose 13% to Rs 9,228 crore compared to Rs 8,145 crore in the same quarter last year.
KR Choksey maintains a BUY rating on Rossari Biotech with a target price of Rs 1,034, reflecting a 31.4% upside from the current market price of Rs 787. Despite lower-than-expected Q2FY25 results due to challenges in the HPPC and TSC segments, the company showed year-on-year growth in revenue, gross profit, EBITDA, and PAT, driven by strong export performance. Adjustments to FY25E/FY26E EPS estimates have been made, but long-term growth potential remains positive with expected capacity additions in the specialty chemicals sector.
Shriram Finance is set to report its Q2 results on October 25, with expectations of an 18% year-on-year growth in net interest income (NII) to Rs 5,430 crore and an 18.6% rise in profit to Rs 2,077 crore, driven by strong asset under management (AUM) growth and robust loan disbursements. Following this positive outlook, the company's shares surged 23% during the July-September period.
Market experts Samir Arora and Saurabh Mukherjea criticized the hike in long-term capital gains tax, arguing it could deter foreign institutional investors and impede the democratization of domestic markets. Arora emphasized India's reliance on foreign capital for private equity and highlighted that post-tax returns in India do not match the pre-tax allure, suggesting that the capital gains tax is a significant factor in the country's lagging market performance.
In 2024, approximately 205 SME IPOs have raised around ₹7,000 crore, compared to ₹4,687 crore during the same period last year. Ashishkumar Chauhan, MD & CEO of the National Stock Exchange, emphasized the need for investors to make informed decisions rather than relying on tips, noting that many recent SME listings have underperformed, with some declining by 5-10%.
Bajaj Finance's recent performance showed muted earnings growth due to increased credit costs, which rose to 2.1% from 1.9% quarter-on-quarter. However, management believes credit costs have peaked, with expectations for earnings growth to align with asset growth by FY26. Sharekhan maintains a Buy rating with a revised target price of Rs 9,500, citing an attractive risk-reward scenario as headwinds are expected to recede.
As Diwali approaches, many look forward to gifts and bonuses, but it's essential to be aware that these could be taxable. This guide outlines the tax rules related to Diwali perks, offering expert tips on exemptions and strategies to minimize tax liabilities, ensuring a smarter celebration this festive season.
Persistent Systems reported $345.5 million in revenues, a 5.1% quarter-on-quarter increase, surpassing estimates. EBIT margins remained flat at 14%, and total TCVs rose 14% quarter-on-quarter to $529 million. The company aims for $2 billion in revenue by FY27, maintaining a buy rating with a target price of Rs 6,200.
ICICI Securities has maintained a BUY rating on Zomato, setting a target price of INR 300. In Q2FY25, Zomato achieved over 20% YoY growth in food delivery, while the gross take rate slightly declined due to an increase in 'zero delivery fee' orders. The company is expanding its restaurant base and has approved a fund raise of up to USD 1 billion to strengthen its balance sheet.
IND
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Danish Power IPO attracts strong interest with significant grey market premium
11:45 23.10.2024
tvs motor reports 23 percent profit rise but shares decline on estimates miss
11:44 23.10.2024
Rossari Biotech maintains buy rating with revised target price of 1034
11:40 23.10.2024
Shriram Finance expects strong Q2 growth in net interest income and profit
11:40 23.10.2024
experts warn capital gains tax hike may deter foreign investment in india
United States Dollar
Helios Capital Asset Management (India) Ltd.
IND
Saurabh Mukherjea
Sameer Arora
11:39 23.10.2024
investors urged to research before engaging in risky sme ipos
11:34 23.10.2024
Bajaj Finance receives buy rating with target price of Rs 9500
11:32 23.10.2024
Understanding the Tax Implications of Diwali Gifts and Bonuses
11:32 23.10.2024
persistent systems reports strong revenue growth maintains buy rating with target price
11:23 23.10.2024
Zomato reports strong growth and targets INR 300 amid strategic expansion
11:22 23.10.2024
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