Western Carriers shares are set to debut on the bourses on Tuesday. It is trading in the grey market with a GMP of Rs 10. The IPO was subscribed 31 times. Proceeds will be used for debt repayment and capital expenditure.
Gautam Gems Ltd leads losers in ‘B’ group (23-09-2024)
S Chand & Company Ltd, Nectar Lifescience Ltd, Crest Ventures Ltd and Hinduja Global Solutions Ltd are among the other losers in the BSE’s ‘B’ group today, 23 September 2024.
Smallcap multibagger stock surges 16% as Axis Securities predicts upside of over 40% (23-09-2024)
Axis Securities initiated coverage on Skipper with a buy rating and a target price of Rs 600. The stock surged 16% following the initiation. The brokerage firm is positive on Skipper’s strong order book, capacity, multi-year revenue visibility, large export market, and robust balance sheet.
Biocon – The ultimate biosimilars play! (23-09-2024)
I am not very ambitious on returns. My buy price (after accounting for splits/bonuses…) is about Rs. 17. Does 20X in 15 years count for a return?
Biocon tries too many things, it appears to be aggressive at times and very defensive at times.
Aggressive: developing new drugs (though with partnerships, licensing…), trying to be an innovator
Defensive: When they enter service space (with assured margins) that affects their product business
Too active: Buys a business from its customer, sells something else…
Pretty complex to analyse. Only concern is “outsized influence of the promoter, who is past the prime, on the business”
U.S. Research Aided Chinese Military Technology, House Republicans Say (23-09-2024)
A congressional report argues that Beijing has exploited ties with American universities to advance technologically, and that further guardrails are needed.
Kotak Mahindra Bank – Low Cost Liability Banking Franchise (23-09-2024)
Will valuations mean revert, my expectation is, most probably it will not.
Will the stock generate returns for shareholders from here, probably yes.
I feel valuations will not mean revert because if we compare valuations of the top 4 private banks, HDFC and Kotak enjoyed high valuations as compared to ICICI and Axis. The reason for that is HDFC and Kotak were consistent in growth, profitability and NPAs, while ICICI and Axis had their own issues. Now, all 4 private banks are almost on par. Hence HDFC and Kotak will not enjoy the valuation premium going forward, so no mean reversion.
Having said that, if our economy continues to do well, all 4 banks will participate, and if they are able to grow their earnings, then the share price will follow the earnings growth.
Disc: Invested
Volumes jump at SBFC Finance Ltd counter (23-09-2024)
SBFC Finance Ltd saw volume of 1050.69 lakh shares by 14:14 IST on NSE, a 43.05 fold spurt over two-week average daily volume of 24.41 lakh shares
Market hit new record high; Nifty above 25,900; Auto shares rally (23-09-2024)
At 14:30 IST, the barometer index, the S&P BSE Sensex, advanced 320 points or 0.39% to 84,868.41. The Nifty 50 index rose 132.40 points or 0.51% to 25,923.35.
Upcoming IPO! Casagrand Premier files DRHP for Rs 1,100-cr issue with Sebi (23-09-2024)
KFin Technologies is the registrar to the offer, while JM Financial and Motilal Oswal Investment Advisors are the book-running lead managers to the issue