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Business Standard
4 minutes ago
- Business Standard
India among fastest growing economies: JSW chairman Sajjan Jindal
JSW Group chairman Sajjan Jindal on Thursday countered US President Donald Trump's recent remarks on India, saying India is one of the largest and fastest growing economies in the world. Speaking at the listing ceremony of JSW Cement at the NSE here, Jindal said India is the fastest growing large economy and has a great future ahead, days after US President Donald Trump's remark of India being a dead economy. "We are going to see a great future for India, because India is growing, it's one of the largest, fastest growing large economies in the world. Whatever Trump may say, that doesn't matter. We are the fastest growing large economy in the world," Jindal said. Amid the trade policy negotiations, Trump had called India as a "dead economy" while expressing disappointment with New Delhi's posturing to continue buying cheap oil from Russia. "I don't care what India does with Russia. They can take their dead economies down together," Trump had reportedly said. Stating that JSW Cement will grow fast as accelerated growth is in the DNA of the Group, he said, "we can't be conservative, we have to be aggressive and that's what India requires. India needs aggressive companies, India needs growth." Meanwhile, shares of JSW Cement Ltd listed with a premium of over 4 per cent against the issue price of Rs 147 on Thursday. The company's stock opened at Rs 153, up 4 per cent from the issue price on the BSE. Later, it jumped 5.23 per cent to Rs 154.70. At the NSE, it listed at Rs 153.50, a premium of 4.42 per cent. The company's market valuation stood at Rs 20,914.02 crore. The capital markets are not just about raising funds, it's about winning the trust of the investors, Jindal said and added that "in the long run, you don't need to take a big jump, but small steps and the investors are always with you." JSW Cement Managing Director Parth Jindal said that he was aiming to take the company to the top two in the industry. "... I have to dream to be in the top two and we all will dream to be in the top two and to build this company," he said. "We have just begun and I hope that we can create value for all our minority shareholders and take this company to its rightful place and be a big part of the future growth story of the JSW group," he said. He said that at present a lot of JSW group companies have the vision to go public, adding that," Now, I'm fully trained, fully ready and geared up to take all of you public as well.
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Business Standard
4 minutes ago
- Business Standard
Rishabh Instruments share zooms 20% in weak broader market post Q1 results
Rishabh Instruments share price today: Rishabh Instruments shares were locked in 20 per cent upper circuit at ₹357.70 on the BSE in Thursday's intra-day trade amid heavy volumes in otherwise a weak broader market. The average trading volumes on the smallcap stock counter jumped multiple fold. Till 1:22 PM, a combined 2.96 million shares changed hands on the NSE and BSE. There were pending buy orders for a combined 500,000 shares, the exchange data showed. The stock had hit a 52-week high of ₹399.95 on October 1, 2024. In comparison, the BSE Smallcap index was down 0.52 per cent at 51,826. Rishabh Instruments Q1 results In the April to June 2025 quarter (Q1FY26), Rishab Instruments reported a six-fold jump in consolidated profit after tax at ₹19.62 crore, compared to ₹3.21 crore in Q1FY25. Revenue from operations remained flat at ₹190.32 crore, against ₹169.35 crore in a year ago quarter. Rishabh Instruments outlook Looking ahead, Rishabh Instruments said the company is focused on scaling core businesses through sharper commercial execution, product differentiation, and operational agility. The company's target is to generate 10-12 per cent incremental revenue from new products over the next two years. Instrumentation, EMS and automation will continue to receive strategic capital, while the solar inverter vertical is expected to scale materially after certification. In die casting, the company aims to achieve Ebitda positivity by 2025-26. Accordingly the management said the company is shifting the portfolio from automotive to industrial customers, where lead times, margins, and product control are structurally more attractive. Rishabh's core offerings, electrical automation solutions, portable instruments, and metering and control devices, continued to witness healthy demand across both domestic and international markets. The Company experienced strong momentum from industrial automation projects, energy efficiency initiatives, and the growing demand for clean energy solutions. Additionally, domestic operations in India remained strong, supported by steady demand from OEMs and project orders. About Rishabh Instruments Rishabh Instruments operates through five vertically integrated manufacturing units across India, Poland, and China, along with two modification centres in the US and the UK. In 2024-25, the Company further expanded its global presence with the acquisition of MICROSYS, a Czech Republic based Company specialising in SCADA software for industrial process automation. Its offerings span solutions across key verticals like electrical automation, metering, control and protection devices, portable test and measuring instruments, aluminium HPDC, and solar inverters. The company leads globally in analogue panel meters and low voltage current transformers. In India, it dominates the split-core current transformer segment. Its subsidiary, Lumel, ranks among the top brands for metres and controllers in Poland and operates under two distinct business divisions: die-casting solutions for automotive and non-automotive industries, and electrical and electronic products.
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Business Standard
34 minutes ago
- Business Standard
JSW Cement shares list at 4% premium on NSE; should you buy, sell or hold?
JSW Cement IPO listing today: Shares of JSW Cement, a part of diversified JSW Group, made a positive debut on Dalal Street on Thursday. August 14, 2025. The company's stock opened at ₹153.5 on the NSE, reflecting a premium of 4.42 per cent over the issue price of ₹147. After listing, the stock fell over 1 per cent from the listing price to ₹150.75. On the BSE, the stock opened at ₹153, up 4 per cent from the issue price. Post-listing, the stock was trading at ₹151, down 1.2 per cent from the listing price. The listing price of JSW Cement was in-line with the grey market estimates. Ahead of the listing, unlisted shares of JSW Cement were trading at ₹151.8, up 3.27 per cent from the issue price of ₹147, according to sources tracking unofficial markets. ALSO READ | JSW Cement: Should you buy, sell or hold? Sunny Agrawal, head of fundamental equity research at SBICAPS Securities, believes that JSW Cement is more of a long-term story rather than a short-term appreciation opportunity. "The company aspires to become the second-largest cement player in India in terms of capacity. They already have the basic infrastructure in place, including land and mining rights, to expand capacity from the current 20–21 million tonnes to 40 million tonnes. This expansion will come through relatively low-cost capex over the next few years,' he said. Agrawal further advised that those with a long-term investment horizon may consider staying invested or deploying fresh capital into JSW Cement. However, it's important to have patience, as value creation will likely take time. Echoing similar views, Shivani Nyati, head of wealth at Swastika Investmart, said the company's revenue growth and profit after tax have been inconsistent over the past three years. Being in a growth phase, the company's high valuation and current losses could lead to short-term volatility in returns. Nyati advised investors who entered the public offering for listing gains to maintain a stop loss at ₹138 and wait for a potential upside, while those with a medium- to long-term perspective may consider holding the stock for future growth. JSW Cement IPO details JSW Cement IPO received a decent response from investors, with the issue being oversubscribed by 7.77 times. The portion reserved for Qualified institutional buyers (QIBs) was subscribed 15.8 times, the Non-institutional investors (NIIs) portion was subscribed 10.97 times, and the retail investors at 1.81 times. The ₹3,600-crore mainline IPO comprises a fresh issue of 108.8 million equity shares and an offer for sale (OFS) of 136.1 million shares. The company set the IPO price band in the range of ₹139 to ₹147. The public issue opened for subscription on Thursday, August 7, 2025, and closed on Monday, August 11, 2025. Kfin Technologies is the registrar of the issue. Axis Capital, JM Financial, Citigroup Global, DAM Capital, Goldman Sachs (India), Jefferies India, Kotak Mahindra Capital, and SBI Capital Markets are the book-running lead managers. According to the red herring prospectus (RHP), the company plans to use the net fresh issue proceeds for setting up a new integrated cement plant in Nagaur (Rajasthan), repayment of debt and general corporate purposes. About JSW Cement Incorporated in 2006, JSW Cement is a cement manufacturing company in India focused on manufacturing green cementitious products comprising blended cement, including portland slag cement (PSC), portland composite cement (PCC) and ground granulated blast furnace slag (GGBS). It also manufactures ordinary Portland cement (OPC), clinker and a range of allied cementitious products such as ready-mix concrete (RMC), screened slag, construction chemicals and waterproofing compounds. The company operates seven manufacturing plants across the country.
