IIFL INSTITUTIONAL EQUITIES
Accel and Flipkart-backed BlackBuck files DRHP with Sebi for IPO
Bengaluru-based Zinka Logistics Solutions, India’s leading platform for truck operators, has filed its draft red herring prospectus with market regulator Sebi to launch an IPO. The IPO comprises a fresh issuance of Rs 550 crore and an OFS of up to 2.16 crore equity shares by promoters and investor selling shareholders.
Dealmaker DAM Capital Advisors plans public issue
DAM Capital, led by Dharmesh Mehta, targets an IPO within six months, highlighting Mumbai's investment-banking growth. Managed by Nuvama Investment Banking, the IPO includes fresh capital and an offer for sale. DAM Capital, with significant public issues, QIPs, and secondary-market block deals, plans wealth management, PMS, AIF, retail broking to rival ICICI Securities and Motilal Oswal.
Markets on bullback, no pullback from 80,000 milestone
Sensex hit 80,000, led by TCS, Infosys, and banks like Kotak Mahindra. Nifty reached 24,302.15, driven by pre-budget CapEx expectations. Markets show bull indications, driven by private banks and tech. Confidence from policy consistency, expected social welfare spending, and strong investor sentiment; budget is likely in July.
3 stocks Viral Shah is bullish on from NBFC sector
I think a lot of analysts and investors have kind of built this in in their numbers and the impact is going to be actually gradual. Given that these are two-three years fixed rate loans, so the impact is always on an incremental basis. So, it will take two to three years for it to play out fully in terms of the financials. And the quantum of it also would vary. If it is a 50 or 100 base points kind of a rate cut, in the kind of the construct of the ROAs that MFIs make, it should be easily digestible.
D-Street looks set for Modi rally tomorrow
After the last phase of the election ended on Saturday, exit polls showed the NDA winning with a comfortable majority. Votes will be counted on June 4. Though some exit polls have been inaccurate in the past, investors will take comfort from the fact that most are forecasting a strong show by the Bharatiya Janata Party (BJP).
Muthoot Finance shares rally 4% post Q4 results. Should you invest?
Muthoot Finance Share Price: Muthoot Finance shares surged by 4.3% on Friday on the BSE, reaching a day's high of Rs 1,745. This uptick followed the company's announcement of a profit after tax of Rs 1,056 crore, marking a 17% year-on-year (YoY) increase compared to Rs 903 crore reported for the corresponding period last year.
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IIFL Securities to foray into wealth management
IIFL Securities' market capitalisation stood at ₹6,073 crore on Tuesday. In comparison, wealth management companies such as 360 One WAM, Nuvama Wealth Management, and Anand Rathi Wealth are valued at ₹28,535 crore, ₹17,913 crore, and ₹17,263 crore respectively.
Vi fundraising may not click until new govt comes online
Vi’s lenders are seeking clarity on future equity conversions by the government, as well as the outcome of the telco’s curative plea in Supreme Court over an earlier order on its arrears based on adjusted gross revenue. These issues, according to bankers, will ultimately determine the cash-strapped company’s future regulatory payment obligations, especially after the moratorium on the payment ends next year.
Awfis Space Solutions IPO opens today. What GMP signals ahead of issue launch
The Awfis Space Solutions IPO is set to commence subscription on May 22, closing on May 27. Prior to the launch, shares of the company are trading at a premium of Rs 165 in the unlisted market.
Awfis Space Solutions IPO sails through on first day. Check GMP and other details
Awfis Space Solutions IPO saw high demand from retail investors on the first day. The IPO includes a fresh share sale of Rs 128 crore and an offer-for-sale of up to 1.22 crore shares. Anchor investors like Goldman Sachs and HDFC MF also participated.
Awfis Space Solutions IPO opens for subscription. Should you bid?
Awfis Space Solutions IPO, with participation from anchor investors like Goldman Sachs, EastBridge Capital Master Fund, HDFC Mutual Fund, and ICICI Prudential MF, will open for subscription at Rs 364-383/share. Analysts recommend subscribing for market leadership and reasonable valuations.
Vodafone Idea’s AGR dues to plunge 46% if SC verdict on curative petition is favourable: Analysts
Vodafone Idea's AGR dues may drop by 46% to Rs 38,400 crore with relief on curative petition, analysts say. Vi seeks waiver of penalty component in AGR demand. Payment reduction could provide cash flow relief, but challenges remain with significant payouts ahead. Management hopeful for Supreme Court relief on AGR calculation errors. Financial restructuring and strategic partnerships planned for Vi's future growth.
Divergence in foreign and local bets hints at a volatile future
Foreign fund managers are cautious about Dalal Street's prospects amidst poll uncertainty, while domestic investors are optimistic about Nifty. Global interest in Chinese stocks affects foreign investments. FPIs, retail investors, and HNIs hold divergent positions. Concerns over NDA performance and market valuations impact strategies. Market indicators signal potential risks and opportunities.
Awfis Space Solutions IPO opens this week. 10 things to know before subscribing to the issue
The IPO of Awfis Space Solutions is set to open for subscription on May 22 and will close on May 27. The company aims to raise approximately Rs 599 crore through this public offer. Awfis has set a price band of Rs 364-383 per share, and investors can bid for 39 shares in one lot and in multiples thereafter.
IIFL Securities Q4 Results: Profit more than doubles to Rs 180 crore
IIFL Securities on Friday announced its net profit more than doubled to Rs 180.4 crore in three months ended March 2024 driven by strong growth in all the business segments.
Valuation comfort in capital goods stocks? Stay invested & wait for dips: Renu Baid Pugalia
Renu Baid Pugalia of IIFL Institutional Equities discusses the earnings upgrades for Larsen & Toubro, ABB, and Siemens in the capital goods sector, highlighting the valuation struggles. She also mentions the positive outlook for MNC subsidiaries like Siemens and identifies potential value in companies such as Cummins and Transformers & Rectifiers.
Gold finance companies plunge on RBI cash advisory
"The regulation is expected to slightly reduce the competitive advantage of NBFCs against banks and the likelihood of some share of gold loan customers shifting to the unorganised segment can't be ruled out," said Shweta Daptardar, VP- institutional equity research, Elara Securities. "The share prices have already reacted today, so the downside is expected to be limited."
Good time to take some money off the table: Nischal Maheshwari
It is a good time actually to take away some money from the table. So, if you really look at what can go right for India then everything is right now there and it is sort of priced in, even for the election side market is discounting 375 to 400 number for NDA, so that is the best they will be able to achieve and if it happens also, I do not think the market is going to go up.
Is it time to look at telecom stocks? Balaji Subramanian answers
Balaji Subramanian of IIFL Securities analyzes the telecom sector's future post-tariff hikes, foreseeing positive impacts on market players like Bharti Airtel, Reliance Jio, and Vodafone Idea. Anticipation of Jio platform's IPO and positive outcomes from AGR dues review.
Analysts advise caution after Sensex's swift run up to 75,000
Sensex and Nifty reach new highs, but caution advised for potential correction. Analysts predict hurdles at 23,000 levels with possible market correction before elections. Foreign investors show interest in Indian shares.
Bharti Hexacom IPO booked nearly 30 times on final day. Check GMP and other details
The category reserved for institutional investors was booked the most at 48 times, followed by non institutional investors at 10 times and retail investors at 2.82 times.
Bharti Hexacom IPO fully subscribed on Day 2. Check GMP and other details
Bharti Hexacom's IPO is completely an offer-for-sale and has no fresh equity issue. The company's shares were trading with a premium of Rs 40 in the unlisted market ahead of the issue launch.
Where is Nifty50 headed in April? See what history has to tell about D-Street action
FY25 has started positively for equities, with strong capital flows and Nifty50's 27% gains in FY24. Bulls are likely to dominate Dalal Street in April amid key events like RBI's monetary policy and general elections.
RK Swamy IPO allotment: Check status, GMP, other details
RK Swamy IPO allotment status: Today, the allotment of SME IPO by RK Swami will be finalised. Investors can check the allotment status on NSE or BSE websites, or the IPO Allotment Status page on Kfin Technologies website. The IPO has a GMP of Rs 25, and refunds and share transfer are expected on March 11.
RK Swamy IPO fully subscribed on Day 1 on heavy retail bidding
In the unlisted market, the company's shares are trading with a GMP of Rs 50. This compares with an upper price band of Rs 288 per share.
Foreign investors make modest purchases on Dalal Street in Feb
A strong revival in foreign institutional buying in March also seems unlikely, said analysts though seasonal trends show that overseas investors have mostly purchased during the month.
Bharat Highways InvIT IPO opens for subscription. Should you bid?
Bharat Highways InvIT IPO: The IPO of Bharat Highways InvIT has opened for subscription to raise Rs 2,500 crore. The net proceeds will be used for loans to project SPVs and other corporate purposes. Analysts advise subscribing as the company plans to expand its asset base through acquisitions and benefit from government focus on infrastructure.
Sanjiv Bhasin on 3 stocks to play FMCG & QSR combo; 2 paint stocks to bet on
Sanjiv Bhasin recommends Bata and Patanjali in the FMCG space due to the positive growth of rural incomes. He discusses Hindalco's subsidiary, Novelis, considering an IPO in the US and comments on the potential deal and volatility surrounding Zee. He also emphasizes the importance of work-life balance and contrarian investing in the retail-driven market.
Never say never in the market; Sanjiv Bhasin on 3 value buys even as Nifty conquers 22K
Sanjiv Bhasin says markets are all about fine-tuning. IT has proven that whatever seems infeasible becomes feasible over time. Wipro and HCL Tech have led from the front, causing shorts to get squeezed. Wipro's stock is expected to reach at least Rs 550. The index is expected to reach 22,000, but stock selection is crucial. State Bank and other stocks like Indigo, Ashok Leyland, and ABSL AMC are value buys. It is better to stay with reasonably valued stocks like Reliance, SBI, ICICI, and IT.
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