The IPO of Interarch Building Products closed on a high note with overall subscription figures of 93.46 times, as institutional investors pumped in money on the last day of the issue closing on Wednesday. The ₹600-crore initial public offering that came out with a price band of ₹850–900 consisted of a fresh issue worth ₹200…
Target: ₹477 CMP: ₹343.15 DDev Plastiks Industries (DPIL) is strategically shifting its focus from low-margin PVC products towards higher-margin products. This strategic pivot includes increasing its share of high-margin XLPE compounds and we expect this shift to enhance profitability in the future. XLPE cable (cross-linked polyethylene) is a type of electrical cable commonly used for…
Markets closed higher on Wednesday, with the benchmark Nifty 50 index gaining 71.35 points or 0.29 per cent to end at 24,770.20. The BSE Sensex also closed 102.44 points or 0.13 per cent higher at 80,905.30. The market saw a gradual increase in gains throughout the trading session, as Aditya Gaggar, Director of Progressive Shares,…
The shares of Genus Power Infrastructures Limited were trading at ₹437.75 up by ₹20.80 or 4.99% at 10:35 am today on the NSE. Genus Power Infrastructures Limited’s wholly-owned subsidiary has been awarded three contracts totalling Rs 3,608.52 crore (net of taxes) for smart metering projects. The orders, announced on August 20, involve the design, supply,…
Refex Sustainable Solutions Private Limited (RSSPL), a wholly-owned subsidiary of Refex Renewables & Infrastructure Limited, has acquired a controlling 51.02 per cent stake in Vyzag Bio-Energy Fuel Private Limited. The deal involves purchasing shares from existing promoters and fresh equity infusion, totalling approximately ₹2.9 crore. The shares of Refex Sustainable Solutions Private Limited were trading…
The Indian stock market showed mixed signals in mid-day trading, with the Nifty 50 index marginally up and the Sensex slightly down. As of 12:45 PM, the Nifty was trading at 24,724.45, up 25.60 points or 0.1% from its opening of 24,680.55. Meanwhile, the Sensex stood at 80,747.32, down 55.54 points, or 0.07%, from its…
Thomas Cook (India) Limited and its group company, SOTC Travel, have introduced a customer self-service (CSS) holiday app for iOS and Android users. Launched today, the app aims to streamline post-booking services for holiday customers. The shares of Thomas Cook (India) Limited were trading at ₹218.75, up by ₹7.60 or 3.60 per cent on the…
Thai Airways has selected RateGain Travel Technologies Limited for a multi-year partnership to enhance its pricing intelligence. It will use RateGain’s AirGain platform to optimise pricing strategies across its network of domestic and international routes. The shares of RateGain Travel Technologies Limited were trading at ₹729.95, up by ₹9.15 or 1.27 per cent, on the…
UBS has issued a ‘buy’ call on Avenue Supermarts, the parent company of DMart, setting a price target of ₹6,000. The brokerage’s optimism is based on strong demand signals from recent channel checks and encouraging insights from DMart store visits. According to UBS, footfall at DMart stores remains robust, translating into healthy sales growth across…
Bernstein has issued recommendations on India’s life insurance sector, signalling notable opportunities and caution. The brokerage has given an outperform call on SBI Life Insurance,Max Financial Services, and HDFC Life, emphasising their stable growth prospects, strong compounding potential, and modest valuations. Bernstein sees these private insurers as prime avenues for exposure to high-income households in…
