Tata Power shares surged over 4% following the release of its Q2FY25 results, with several brokerages reaffirming 'Buy' ratings. Elara Securities raised its target price to Rs 518 and upgraded its rating, while Morgan Stanley set a higher target of Rs 577, citing benefits from power transmission capex and green investments.
Danish Power's IPO has achieved a remarkable 117.9 times subscription, making it the largest-ever SME IPO, with investors purchasing 44.14 crore equity shares against an offer of 37.44 lakh shares. The Jaipur-based transformer manufacturer opened its share sale on October 22, aiming to raise Rs 197.9 crore at a price band of Rs 360-380 per share. Notably, the company secured Rs 55.63 crore from 19 anchor investors prior to the IPO launch.
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