HPL Electric & Power is strongly positioned to witness healthy growth led by robust opportunity arising in smart meters segment. Order book stands strong at ₹3500+ Cr (3.6x meters' revenue). Large part of 22.24 crore meters is yet to be awarded by the Govt. TP ₹660 (36%)…
HPL Electric & Power is strongly positioned to witness healthy growth. TP ₹660 (36%)
The money from initial public offer of the units will be mostly deployed to acquire space in Prestige Tech Platina
The S&P 500’s 25% YTD gain has raised concerns about its valuation. The market is priced for perfection, relying on falling interest rates, resilient earnings, and sustained investor confidence. The tech sector, while resilient, shows a divergence in valuations between the broader space and the “Magnificent 7” mega-cap stocks. While the market’s outlook remains positive, investors should exercise caution and consider potential risks.
Real estate firm Kalpataru Ltd and Unimech Aerospace and Manufacturing Ltd have received Sebi’s go-ahead to raise funds through initial public offerings (IPOs), an update with the markets regulator showed on Monday.
Kalpataru and Unimech Aerospace are aiming to raise Rs 1,590 crore and Rs 500 crore, respectively, through their initial share sale offers.
The two companies, which filed their preliminary papers with the markets regulator in August, obtained observations during November 21-22, the update showed.
In Sebi’s parlance, obtaining the observations means its go-ahead to launch the public issues.
According to the draft papers, Mumbai-based Kalpataru’s IPO comprises a fresh issue of shares aggregating up to Rs 1,590 crore.
It would use Rs 1,192.5 crore for payment of debt.
Kalpataru Ltd is part of the Kalpataru group. Other companies in the group are Kalpataru Projects International Ltd, Property Solutions (India) and Shree Shubham Logistics Ltd.
Bengaluru-based Unimech …
EQT AB is considering an IPO for Indira IVF that could raise $400 million. The IPO could value Indira IVF at $2.5 billion. The deal is still in the preliminary stages, and no final decisions have been made.
The recent global fund flow data suggests that one big cycle of foreign fund allocation into India may have come to an end and the trend could remain soft for a longer time, according to a report by Elara Capital. The note said last week’s outflow of $302 million from India’s dedicated funds is the largest since June 2022.
Muthoot Microfin has initiated loan disbursals under its co-lending partnership with the State Bank of India (SBI), the country’s largest lender. Under this collaboration, SBI has sanctioned Asset creation cap of Rs 500 crore, to be disbursed in tranches of Rs 100 crore. Loans ranging from Rs 50,000 to Rs 3 lakhs will be extended to identified and eligible customers, focusing primarily on members of Joint Liability Groups (JLGs) engaged in agricultural and allied activities, as well as other income-generating ventures.
The MSCI November 2024 index review, effective Monday, put the spotlight on the banking giant due to its weightage adjustment. This marks the final tranche of a phased increase announced earlier this year, reinforcing HDFC Bank’s pivotal role in the MSCI index realignment.