M&B Engineering shares end over 6 pc higher after flat market debut
Last Updated: August 06, 2025, 19:00 IST
Representational image (Image: News18)
New Delhi, Aug 6 (PTI) Shares of M&B Engineering closed higher by 6 per cent at Rs 409.15 in the debut trade on Wednesday.
The stock listed flat Rs 386 on the BSE compared to the issue price of Rs 385. During the day, it gathered momentum and climbed 8.79 per cent to Rs 418.85 against the issue price. Shares of the company finally ended at Rs 409.15, up 6.27 per cent on the exchange.
On the NSE, the stock got listed at par with the issue price of Rs 385. Later, it surged 8.8 per cent to Rs 418.80 apiece in the intra-day trade. The stock ended at Rs 405.25, a gain of 5.26 per cent.
At the close, the company commanded a market valuation of Rs 2,338.22 crore on the BSE.
In volume terms, nearly 1.54 crore equity shares were traded on the NSE and 18.45 lakh shares changed hands on the BSE, during the day.
The Rs 650-crore initial public offering (IPO) of M&B Engineering Ltd fetched 36.2 times subscription on the closing day of bidding on Friday. Last week, M&B Engineering Ltd garnered nearly Rs 292 crore from anchor investors. The issue has a price band of Rs 366-385.
The Rs 650-crore IPO is a mix of fresh issue of equity shares worth Rs 275 crore and an offer for sale (OFS) of Rs 375 crore by promoters.
Swipe Left For Next Video View all
Proceeds from the fresh issue will be used for purchasing equipment and machinery for the company's manufacturing facilities, payment of debt, working capital requirements and general corporate purposes.
M&B Engineering is one of the country's leading pre-engineered buildings and self-supported roofing providers in terms of installed capacity (103,800 MTPA related to PEB and 18,00,000 square metres per annum for self-supported roofing). PTI HG HG MR (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments News agency-feeds M&B Engineering shares end over 6 pc higher after flat market debut Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Read More
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
18 minutes ago
- Business Standard
Govt plans to ease petrol pump licensing norms amid energy security push
The government is considering further easing the norms for setting up petrol pumps in the world's fastest-growing fuel market, in light of the evolving energy security paradigm and commitment to decarbonisation, according to an official order. The government had in 2019 relaxed the norms for setting up petrol pumps, opening the door for non-oil companies to enter the fuel retailing business. At that time, companies with a net worth of Rs 250 crore were permitted to sell petrol and diesel, provided they committed to setting up infrastructure for at least one new-generation alternative fuel, such as CNG, LNG, biofuels, or EV charging, within three years of beginning their operations. For companies wanting to sell petrol and diesel to retail and bulk consumers, the networth criteria was set at Rs 500 crore. The Ministry of Petroleum and Natural Gas has now constituted an expert committee to review the 2019 guidelines for granting authorisation to market transportation fuels. The expert committee will "assess the effectiveness of the framework envisaged in Resolution dated November 8, 2019, in ensuring energy security and market efficiency; align the policy framework with national commitment towards decarbonisation, electrical mobility and promotion of alternative fuel; and address issues in implementation of existing guidelines," the order said. The committee is headed by Sukhmal Jain, former director (marketing) of Bharat Petroleum Corporation Ltd (BPCL). Other members of the four-member committee are Petroleum Planning and Analysis Cell (PPAC) Director General P Manoj Kumar, FIPI member PS Ravi and Arun Kumar, Director (Marketing) in the ministry. An August 6 notice of the ministry sought stakeholder/general public comments/suggestions on the matter within 14 days. Prior to the 2019 change, to obtain a fuel retailing license in India, a company had to invest or commit to invest Rs 2,000 crore in either hydrocarbon exploration and production, refining, pipelines or liquefied natural gas (LNG) terminals. This norm was relaxed in 2019. That year, the government allowed any entity with a net worth of Rs 250 crore to get a licence to retail petrol and diesel to either bulk or retail consumers. For those seeking authorisation for both retail and bulk, the minimum networth was set at Rs 500 crore at the time of application. For retail authorisation, the entities are required to set up at least 100 retail outlets. Also, retailers are required to establish 5 per cent of the total outlets in rural areas within five years. Global energy giants have been eyeing the Indian fuel market for a long time. French energy giant TotalEnergies, in partnership with Adani Group, had in November 2018 applied for a licence to retail petrol and diesel through 1,500 outlets. BP too has formed a partnership with Reliance Industries to set up petrol pumps. While oil trader Trafigura's downstream arm, Puma Energy, had applied for a license, Saudi Arabia's Aramco has been in talks to enter the sector. State-owned oil marketing companies Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) currently own most of the 97,804 petrol pumps in the country. Reliance Industries, Nayara Energy (formerly Essar Oil), and Royal Dutch Shell are the private players in the market, but with limited presence. The joint venture of Reliance, which operates the world's largest oil refining complex, and BP has 1,991 outlets. Nayara has 6,763 pumps, while Shell has just 355. Currently, IOC is the market leader with 40,666 petrol pumps in the country, followed by BPCL with 23,959 outlets, and HPL with 23,901 fuel stations.
&w=3840&q=100)
Business Standard
18 minutes ago
- Business Standard
FPIs pull nearly ₹18,000 crore from equities in August amid trade tensions
Foreign investors have pulled out nearly ₹18,000 crore from Indian equities so far this month, weighed down by escalating US-India trade tensions, disappointing first-quarter corporate earnings, and a weakening Indian rupee. With this, the total outflow by Foreign Portfolio Investors (FPIs) in equities has reached ₹1.13 trillion so far in 2025, according to data from the depositories. Going forward, FPI sentiment is expected to remain "fragile and in risk-off mode," with tariffs and trade negotiations emerging as key factors to watch out for in the coming week, according to Vaqarjaved Khan, CFA, Senior Fundamental Analyst at Angel One. The data showed that FPIs withdrew a net sum of ₹17,924 crore from equities in this month (till August 8). Foreign investors had pulled out ₹17,741 crore on a net basis in July. Before that, FPIs invested Rs 38,673 crore in the preceding three months from March to June. The latest outflows were primarily due to escalating US-India trade tensions, disappointing first-quarter corporate earnings and a weakening Indian rupee, Himanshu Srivastava, Associate Director - Manager Research, Morningstar Investment Research India, said. From August 1, the US imposed a 25 per cent tariff on Indian goods and increased these tariffs by an additional 25 per cent during the current week. This spooked the markets and FPIs, leading to a massive sell-off in Indian equities, Angel One's Khan said. Along with tariffs, rising US Treasury yields also led to foreign money moving towards treasuries, he added. On the other hand, FPIs invested Rs 3,432 crore in the debt general limit and put in Rs 58 crore in the debt voluntary retention route during the period under review. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
&w=3840&q=100)
Business Standard
18 minutes ago
- Business Standard
Mcap of 6 top valued firms erodes by ₹1.36 trillion, Reliance hit hard
The combined market valuation of six of the top 10 valued firms eroded by ₹1,36,151.24 crore last week, with Reliance Industries taking the biggest hit, following a bearish trend in equities. Extending losing streak for the sixth consecutive week, the BSE benchmark dropped 742.12 points or 0.92 per cent, and the NSE Nifty declined 202.05 points or 0.82 per cent. From the top 10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys and Hindustan Unilever faced erosion in their valuations while Tata Consultancy Services (TCS), State Bank of India, Life Insurance Corporation of India (LIC) and Bajaj Finance were the gainers. The mcap of ICICI Bank fell by ₹24,719.45 crore to ₹10,25,495.69 crore, and that of Infosys dropped by ₹19,504.31 crore to ₹5,91,423.02 crore. The valuation of Bharti Airtel declined by ₹15,053.55 crore to ₹10,59,850.32 crore, and that of Hindustan Unilever by ₹12,441.09 crore to ₹5,87,021.88 crore. However, the mcap of LIC jumped ₹17,678.37 crore to ₹5,77,187.67 crore. The valuation of TCS climbed ₹11,360.8 crore to ₹10,97,908.66 crore. State Bank of India added ₹9,784.46 crore, taking its valuation to ₹7,42,649.34 crore, and that of Bajaj Finance went up by ₹186.43 crore to ₹5,45,148.52 crore. Reliance Industries remained the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Hindustan Unilever, LIC and Bajaj Finance.
