INITIAL SHARES
Diversity initiatives are bringing more women to certain roles: Survey
Indian companies are prioritizing diversity, equity, inclusion, and belonging (DEIB) initiatives, with varying levels of women's representation across roles highlighted in a Manpower Group survey. Administrative and operational roles show higher female presence, while top-level management and STEM roles exhibit lower representation. Key findings emphasize the importance of trust, relationship building, and technology-driven solutions like AI for unbiased recruitment.
IPO Corner: 4 companies are all set for a D-Street debut
Ahmedabad-based Mamata Machinery exports extrusion equipment while Shivalik Engineering Industries' IPO includes fresh issue shares and an offer for sale with a face value of ₹5 per equity share. Gala Precision and Interarch Building Products have received Sebi approval for their IPOs.
Kotak Equities initiates coverage on JB Chemicals with a target price of Rs 2,025
“Having primarily grown organically until FY2022 and later on aided by benefits from acquired brands, JB has handsomely outperformed the IPM in the past decade by ~600 bps and currently ranks 22 in the IPM,” said Alankar Garude, Analyst at Kotak Equities.
IPO Calendar: Primary market gears up for another robust week as 3 companies look to raise Rs 2,700 cr
Apart from the above 3 public offers, the Street will see as many 11 listings including that of Allied Blenders and Vraj Iron and Steel, which received healthy investors' response for their IPOs in the week gone by.
After fresh initiatives, India ties with Bangladesh are set to scale new heights
India sees Bangladesh as a "close and valued neighbour" with rapidly growing capabilities. For India, Bangladesh is the converging point of its "Neighbourhood First" and "Act East" policies besides the SAGAR (Security and Growth for All in the Region) doctrine and New Delhi's Indo-Pacific vision. Bangladesh is also an indispensable partner in the development of India's northeastern region. On the other hand, Bangladesh values its relationship with India as "a major neighbour," "trusted friend" (PM Hasina's words) and a key development partner. India is the largest market for Bangladeshi products in Asia.
Xi Jinping lauds relevance of Panchsheel to end world conflicts, calls for consolidating Global South
Xi Jinping emphasized the Five Principles of Peaceful Coexistence, proposed the Global Security Initiative, and unveiled initiatives to enhance cooperation with the Global South, demonstrating China's strategic vision for inclusive international relations and development.
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Axis Securities initiates coverage on Inox Wind, sees upside potential of 30%
Domestic brokerage firm ICICI Securities initiated coverage on Inox Wind (IWL) with a target price of Rs 185 stating that the company is well-positioned to benefit from the tailwinds in the wind sector.
US IPOs off to their best start in a while
Wall Street's equity capital markets see a resurgence with IPOs and equity offerings surpassing $20 billion in the first half of 2024, marking the strongest start since 2021. Enhanced investor engagement and favorable market conditions signal a potential bounce-back year, encouraging companies like Lineage to pursue significant listings amid balanced valuation discussions.
Kotak Institutional Equities initiates coverage on Coforge, sets Rs 6,000 as target price
Kotak analysts anticipate a robust 20.2% CAGR in earnings per share for FY2024-27E. This growth is driven by a 12.3% organic revenue CAGR and a 150-basis point expansion in EBIT margins.
JM Financial initiates coverage on MapmyIndia, sees upside potential of 28%
MapmyIndia, backed by JM Financial, aims for substantial revenue growth driven by new geospatial policies and diverse revenue streams.
JM Financial initiates coverage on this small cap stock, views upside potential of 20%
Shivalik Bimetal Controls, analyzed by JM Financial, shows potential in niche markets with diverse growth avenues, including smart metering, EVs, and customized products. The company's expansion into shunt resistors and focus on global opportunities signal a promising future amidst challenges like market delays.
3 SME IPOs open for subscription today. Check details before subscribing
Divine Power Energy, Petro Carbon and Chemicals, and Akiko Global Services are offering their shares to investors, aiming to raise funds for various purposes. The IPO market is thriving with these new issues, providing opportunities for Qualified Institutional Buyers, Retail Investors, and Non-Institutional Investors to participate in the offerings.
Nuvama initiates coverage on Bikaji Foods, sees upside potential of over 21%
Domestic brokerage firm Nuvama initiated coverage on Bikaji Foods, with a target price of Rs 885, as the company has emerged as a heavyweight in the rapidly expanding Indian savoury snacks market.
Goldman Sachs initiates coverage on MapmyIndia, shares jump over 17%
CE Info Systems shares surged 17.6% to Rs 2,354.60 on BSE as Goldman Sachs initiated coverage with a target price of Rs 2,800.
Motilal Oswal initiates coverage in jewellery stocks; sees up to 24-26% upside in Senco Gold & Kalyan Jewellers
Following recent coverage, Kalyan Jewellers saw a 5.3% rise in its shares, reaching a high of Rs 446.65. Similarly, Senco Gold experienced a 3% increase, with shares climbing to a day's high of Rs 1,061.90 on the BSE.
Motilal Oswal initiates coverage on Mankind Pharma with target price of Rs 2,650
Motilal Oswal initiated coverage on Mankind Pharma with a 'buy' call and target price of Rs 2,650. The company's disruptive strategy in establishing its DF business has made it an industry leader in prescriptions.
DEE Development IPO Opens June 19
DEE Development Engineers, headquartered in Haryana, unveils its 418 crore IPO with a price band of 193-203 per share, opening for subscription on June 19 till June 21. The offering comprises a fresh issue of 325 crore and an offer for sale of 93.01 crore by existing shareholders, allowing investors to subscribe for a minimum of 73 equity shares.
HCC shares jump 15% after Elara Capital initiates buy rating, sees 58% upside
Hindustan Construction Company (HCC) witnessed a significant surge of almost 15% to reach a peak of Rs 45.6 during Tuesday's trading session on the BSE. This increase came after brokerage firm Elara Capital initiated coverage on the stock with a 'Buy' rating and set a target price of Rs 63.
Kronox Lab Sciences IPO opens on Monday. 10 things to know before subscribing to the issue
Kronox Lab Sciences plans to raise around Rs 130 crore from the issue. The IPO is completely an offer for sale of up to 97.5 lakh shares with no fresh issue component. The current GMP of the company is Rs 80 in the unlisted market.
Nuvama initiates coverage on Suzlon and Inox Wind, sees upside potential of up to 33%
Nuvama, a domestic brokerage, initiated coverage on Inox Wind and Suzlon Energy with optimistic outlooks. It assigned a 'buy' rating and a target price of Rs 195 for Inox Wind, citing its position as one of the two key players in India's WTG and turnkey EPC market. Meanwhile, Suzlon Energy received a 'buy' rating with a target price of Rs 53, backed by its technological edge, high-margin services, and strong balance sheet.
ICICI Securities initiates coverage on Bharti Hexacom, calls it the ‘little giant’
The brokerage has set a target price of Rs 1,075 for the stock. Bharti Airtel continues to be its chosen pick. ICICI Securities has assigned a 15% premium to Bharti India’s valuations. It stands by its hypothesis of ‘small, but beautiful’ for BHL.
Beacon Trusteeship IPO to open on May 28; sets price band at Rs 57-60/ share
Leading debenture trustee Beacon Trusteeship Ltd on Wednesday said it is aiming to raise a little over Rs 32 crore through its initial share-sale opening for public subscription on May 28.
Ahead of IPO, Awfis Space Solutions garners Rs 268 crore from anchor investors
Those who participated in the anchor round include -- Goldman Sachs, EastBridge Capital Master Fund, HDFC Mutual Fund (MF), ICICI Prudential MF, Axis MF, UTI MF, Aditya Birla Sun Life Insurance Company and SBI General Insurance Company.
M&M shares jump 4% after Q4 results; m-cap climbs Rs 8,742 crore
The company added Rs 37,159.36 crore taking its market capitalisation (mcap) to Rs 6,26,048.27 crore.
Awfis Space Solutions IPO price band fixed at Rs 364-383; offer to open on May 22
Awfis Space Solutions' IPO opens for subscription on May 22, with a price band of Rs 364-383 per share. The offering aims to raise between Rs 576-599 crore, valuing the company at Rs 2,659 crore.
Awfis IPO: Price band for Rs 599 crore public issue announced
Coworking space company, Awfis Space Solutions, will launch its initial public offering (IPO) on May 22, the company’s red herring prospectus showed.
LIC shares rally over 6 pc; mcap climbs Rs 37,159 cr
Shares of Life Insurance Corporation (LIC) on Wednesday jumped more than 6 per cent after the firm said Sebi has granted an additional 3-year time till May 16, 2027, to comply with the 10 per cent public shareholding norm.
Officer's Choice whisky maker Allied Blenders gets Sebi's nod for Rs 1,500-crore IPO
Allied Blenders and Distillers Ltd, which filed preliminary IPO papers with Sebi in January, obtained its observations on May 10, the update showed.
Premier Roadlines IPO to open on May 10, price band at Rs 63-67 per share
The company intends to utilise the proceeds from the issue to pare debt availed by the company, purchase vehicles for commercial purposes, meet working capital requirements and general corporate purposes.
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