POPULAR VEHICLES & SERVICES SHARES
Is that a UFO? Oklahoma Patrol Officer stops bizarre vehicle
An Oklahoma Highway Patrol trooper had a unique encounter on the Turner Turnpike, pulling over a UFO-shaped vehicle for an obstructed tag. The officer, Ryan Vanvleck, took a selfie with the silver, spaceship-like car, which was on its way to a UFO festival in Roswell, New Mexico. The incident, shared on social media, garnered significant attention and humorous reactions from the public.
73% IPOs trading above issue price as primary market shines in H1, four turn multibaggers
The fundraising of Rs 26,272 crore, however fell short of the previous two years likely due to the absence of mega issues. Investors' reception also remained positive with only one failed IPO.
Extent and frequency of tariff revisions crucial for financial health of telcos
Following the increase in tariffs, the stock of Reliance Industries rose by 2.3% on Friday to close at Rs 3,131.9. On the other hand, stocks of Bharti Airtel and VIL were under pressure, falling by 1.8% to Rs 1,445.4 and by 3.4% to Rs 17.9 in that order amid profit booking after a recent surge in their prices.
Akme Fintrade shares see a moderate listing. Should you exit?
Akme Fintrade, a rural and semi-urban-focused NBFC, had a moderate listing on Wednesday. Its shares opened at Rs 127, marking a 5.83% increase from its issue price of Rs 120. This performance contrasts sharply with the earlier excitement indicated by a higher pre-listing GMP. Despite receiving decent oversubscription, analysts noted that Akme Fintrade's cautious listing suggests investor restraint.
Akme Fintrade shares list at 6% premium over issue price
Ahead of the listing, the company's shares were trading in the unlisted market with a Grey Market Premium (GMP) of Rs 18. The IPO, consisting solely of a fresh equity sale of 1.1 crore shares, was oversubscribed by 53 times at closure. Due to intense competition in the domestic NBFC sector, analysts expressed caution regarding the IPO.
Akme Fintrade shares to list tomorrow. What GMP signals ahead of listing?
With a strong financial performance and growth trajectory, our upcoming listing is poised for success. The oversubscribed IPO reflects investor confidence in our business model and potential for further expansion. Partnering with industry experts like Gretex Corporate Services ensures a solid foundation for future growth.
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Mukesh and Nita Ambani love street food: What is India's richest family's favourite food joint
Nita Ambani recently visited a chaat shop in Varanasi, where she enjoyed local delicacies and reflected on her husband Mukesh Ambani's love for street food. Her visit was part of a spiritual trip to offer prayers at the Kashi Vishwanath temple ahead of their son Anant Ambani's wedding. Nita mentioned that Mukesh would have loved the chaat, highlighting his fondness for Mumbai's Swati Snacks, a favorite among the Ambani family for generations.
Headwinds of high FPI exposure, but good for long term: 6 stocks the financial services sector with an upside potential of up to 25 %
One of the most intriguing aspects of presenting the return performance of stocks, or any asset class for that matter, is how a slight adjustment in the calculation date can dramatically alter the perception, making the glass appear either half full or half empty. This phenomenon is particularly evident in the case of financial service stocks. Recently, these stocks have often been portrayed as underperformers. However, this overlooks the fact that over the long term, they have provided substantial returns and generated significant wealth. The short-term underperformance of these stocks can be attributed to their heavy ownership by Foreign Portfolio Investors (FPI). As FPIs have been net sellers in Indian equities, financial service stocks have faced selling pressure. Nevertheless, the relative decline in stock prices is considerably less severe than in previous instances of similar selling activity. Given the robust fundamentals of these stocks compared to a few years ago, it is prudent to view them from a long-term investment perspective.
Is Ben Affleck uncomfortable with the immense popularity of Jennifer Lopez? This is what he said
Recalling his first experience with the sky-high popularity of his wife, Ben Affleck talked about the time when he saw Jennifer Lopez's fame firsthand.
Indian rupee hits new lifetime low against US dollar. Are record block deals the culprit?
The Indian rupee fell to a lifetime low of 83.62 against the US dollar on Thursday. Record block deals worth Rs 23,000 crore on Wednesday, which included Vodafone Plc's stake sale in Indus Towers, is said to be among the triggers behind the INR slide. The local currency had closed at 83.4550 in the previous session.
Uber's electric vehicle service, Uber Green arrives in Kolkata
Uber launched its electric vehicle service, Uber Green, in Kolkata, offering users on-demand EV rides across the city, including to and from the Kolkata International Airport. The initiative aims to improve air quality in the city and reduce carbon emissions. Uber plans to provide zero-emission services globally by 2040, with approval from the Science Based Targets Initiative. Uber India and South Asia President, Prabhjeet Singh, highlighted the company's commitment to expanding green transportation options in India.
Services replaces edtech as most popular sector among student founders: Campus Fund report
Campus Fund invests in startups run by students and offers mentorship and guidance on investing. The firm describes student founders as those who are currently students, or graduates and dropouts in the previous three years, with at least 25% equity in the company.
Not so well known stakeholders of EV ecosystem: 8 stocks that don't come instinctively, 3 with an upside potential of more than 18%
We also have a whole list, but we have separated the eight companies, just because these companies are not the names which one would instinctively think about and probably they may have more to go as they form this index.
Piramal Alternatives leads Euler Motors’ Rs 200 cr fundraise
Euler Motors, an electric three-wheeler maker, raised Rs 200 crore ($24 million) led by Piramal Alternatives India Access Fund, with British International Investment and Blume Ventures also participating. Total funding now stands at Rs 570 crore. The funds will support expansion to 40 cities and enhance R&D efforts.
Hybrids catching up fast with EVs; Maruti, Toyota driving growth
Sales of hybrid transmission cars and SUVs are rapidly increasing, challenging electric vehicles in market share. Maruti Suzuki and Toyota offer popular models in this segment, with hybrid vehicles capturing 2.48% of the passenger vehicle market in Q1 2024.
Auto component industry to double investment to $7 billion; Craftsman Automation could give 19% return
Auto component industry to double investment to $7 billion; Craftsman Automation could give 19% return. Premiumization trend drives shift to 'premium' vehicles. UV mix in PVs at 60% in FY24. 125cc+ segment in motorcycles at 52% in FY24. Social media influences rural trends. Finance accessibility boosts premiumization. India targets net zero emissions by 2070, promoting EVs and biofuels.
Mahindra Finance appoints Mahesh Rajaraman as CRO
Mahindra & Mahindra Financial Services appoints Mahesh Rajaraman as Chief Risk Officer, replacing Mallika Mittal who resigned amid a fraud case involving Rs 135.9 crore. Rajaraman, with 29 years of banking experience, will lead the risk management function for a 5-year term.
$17.7 billion worth of shares to enter market in next 3 months as IPO lock-in expires for 66 cos
The value pertains to the total lock-up opening shares and it is important to note that not all of these shares will come for sale as a sizable portion of these shares are also held by promoters and groups.
Popular Vehicles shares make a tepid debut, but analysts are bullish. Here's why
Despite a tepid debut, analysts are positive about the company's prospects in the medium- to long-term horizon, betting on the strong demand growth for the automobile industry.
Popular Vehicles and Services shares list at 2% discount to IPO price
Popular Vehicles IPO debuted with discounts on NSE and BSE. The company's revenue segments include passenger, commercial vehicles, and electric vehicles. It closed on March 14 with a P/E of 28.9x based on FY23 earnings.
Popular Vehicles & Services IPO to list on Tuesday. What does GMP signal?
Considering the upper price band of Rs 295, the stock is expected to see a flat or even a discounted listing, keeping in trend with the last few debuts, which were muted.
Popular Vehicles and Services IPO allotment: Here's how you can check status
Popular Vehicles and Services is close to finalizing share allotment after a 1.23 booking issue. Investors can check status on BSE or registrar website. IPO fully subscribed with a flat debut. Strong FY23 performance with no GMP.
Popular Vehicles and Services IPO fully subscribed on final day: Check subscription, GMP and other details
About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.
Popular Vehicles and Services IPO: Check subscription on Day 2, GMP and other details
The retail portion of the offer was booked 77%, followed by NIIs at 20%. The category reserved for institutional investors is still blank.
Popular Vehicles and Services IPO: Check subscription on Day 1, GMP and other details
The initial public offer (IPO) of Popular Vehicles was subscribed 18% so far on Tuesday, the first day of the bidding process. The issue received bids for 25 lakh shares as against 1.44 crore shares on offer.
Popular Vehicles IPO opens for subscription. Should you bid for Rs 602-crore offer?
The Popular Vehicles IPO opens today after raising Rs 180 crore from anchor investors on Monday. The IPO is made through the book building process, with allocations for qualified institutional buyers, retail investors, and non-institutional investors. The company saw revenue growth and profit after tax (PAT). ICICI Securities, Nuwama Wealth, and Centrum Capital are the book-running lead managers.
Popular Vehicles and Services IPO opens tomorrow. 10 things to know before subscribing to the issue
Popular Vehicles & Services IPO aims to raise around Rs 602 crore. The company, with diversified automobile dealerships, caters to the complete vehicle ownership life cycle and had a strong financial performance in FY23.
Popular Vehicles sets price band of Rs 280-295 for its Rs 602-crore IPO
At the upper end of the price band, Popular Vehicles plans to raise about Rs 602 crore. The company filed its draft papers in October 2023 and received approval from the regulator in December 2023. The issue is a combination of fresh equity issue of 84 lakh shares and an offer for sale (OFS) of 1.19 crore shares, which will be offloaded by Banyan Tree Growth Capital.
BLS E-Services, Popular Vehicles get Sebi approval to launch IPOs
BLS E-Services IPO: BLS E-Services, a subsidiary of BLS International, runs a web-enabled services portal to access various services provided by the government and service partners. The company claims to provide end-to-end integrated solutions to various services availed through this portal.
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