350% rally in five years! Multibagger auto stock hits 20% upper circuit after ₹320 crore fundraise move
Multibagger auto stock: Pavna Industries share price touched 20% upper circuit limit during Thursday's trading session following the company's announcement of plans to raise up to ₹ 320 crores by issuing equity shares to qualified institutional buyers.
'Approved raising of funds for an aggregate amount not exceeding ₹ 320 crores through issue of Equity Shares by way of Qualified Institutions Placement (QIP), in accordance with the relevant provisions of applicable law and subject to approval of the company's shareholders and receipt of applicable regulatory approvals,' said the firm in an exchange filing.
Additionally, the company announced that to facilitate the proposed issuance of equity shares, the board has formed the QIP Committee and empowered this committee to determine and undertake the essential measures, including setting the price, timing, terms, and conditions of the QIP.
The company specialises in producing a diverse array of automotive parts for well-known Original Equipment Manufacturers (OEMs) according to their specifications, serving different vehicle categories like passenger cars, two-wheelers, three-wheelers, heavy and light commercial vehicles, and off-road vehicles.
In addition, the company offers aftermarket sales and services, which include products it manufactures such as filters, clutch plates, bearings, wiper blades, and brake shoes.
Pavna Industries share price opened at an intraday low of ₹ 320.45 apiece on the BSE, the stock touched an intraday high of ₹ 373 apiece. Over the last week, Pavna Industries share price increased by 18.97%. In the previous quarter, the stock has declined by 24.97% and has decreased by 28.30% over the past year. The stock has increased by 350% over the past 5 years, providing significant returns to its investors.
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Pavna Industries share price have seen strong traction in today's session, with prices surging more than 18% in today's session backed with volume , this move can extend in near term towards ₹ 400 in near term. With support placed around ₹ 300.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
34 minutes ago
- Mint
Scoda Tubes IPO listing date today. GMP, analysts signal positive share debut on BSE, NSE
Scoda Tubes IPO Listing: The equity shares of stainless-steel tubes and pipes manufacturer Scoda Tubes Ltd will make their debut in the Indian stock market today after the recent conclusion of its initial public offering (IPO). Scoda Tubes IPO listing date is today, 4 June 2025. Scoda Tubes IPO was open for subscription from May 28 to May 30. The IPO allotment was fixed on June 2, and Scoda Tubes IPO listing date is June 4, Wednesday. Scoda Tubes shares will be listed on both the stock exchanges, BSE and NSE. 'Trading Members of the Exchange are hereby informed that effective from Wednesday, June 04, 2025, the equity shares of Scoda Tubes Limited shall be listed and admitted to dealings on the Exchange in the list of 'T' Group of Securities,' a notice on the BSE said. Scoda Tubes shares will be in the Trade-for-Trade segment for 10 trading days. The stock will be a part of the Special Pre-open Session (SPOS) on Wednesday, June 4, 2025, the BSE notice added, and the shares will be available for trading from 10:00 AM. Ahead of the Scoda Tubes IPO listing, investors watch out for the trends in Scoda Tubes IPO grey market premium (GMP) today to gauge the listing price. Scoda Tubes IPO GMP today and analyst signal listing at a mild premium. Scoda Tubes IPO GMP is showing a bullish trend. According to market analysts, Scoda Tubes IPO GMP today is ₹ 20 per share. This means that in the grey market, the Scoda Tubes shares are trading higher by ₹ 20 apiece than their issue price. Scoda Tubes IPO GMP today signals the estimated Scoda Tubes IPO listing price would be ₹ 160 per share, which is at a premium of 14% to the issue price of ₹ 140 per share. Analysts also predict Scoda Tubes IPO listing price to be at a premium. 'Scoda is valued at a P/E of 30.43x and a P/B of 8.76x on FY24 basis reasonably in line with industry peers, and we are expecting 10%-12% listing gains and IPO allotted investors can hold for medium to long term,' said Mahesh Ojha, AVP - Research and Business Development, Hensex Securities Pvt Ltd. Scoda Tubes Ltd. is a stainless-steel tubes and pipes manufacturer based in India having over 14 years of experience. The industry forecast indicates healthy growth for the Indian SS pipes and tubes which is projected to expand at a CAGR of 6% - 8% for the FY24-FY29E period. The bidding for Scoda Tubes IPO began on Wednesday, May 28, and ended on Friday, May 30. The IPO allotment date was June 2, and the Scoda Tubes IPO listing date is today, June 4, Wednesday. Scoda Tubes IPO price band was fixed at ₹ 140 per share. The company raised ₹ 220 crore from the IPO which was entirely a fresh issue of 1.57 crore equity shares. The public issue was subscribed 53.78 times in total. The retail investors' portion was booked 19.40 times, while the non-institutional investors (NII) category was subscribed 113.03 times. The qualified institutional buyers (QIBs) portion received 69.51 times subscription. Monarch Networth Capital Ltd is the book-running lead manager of the Scoda Tubes IPO, while MUFG Intime India (Link Intime) is the IPO registrar. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
News18
4 hours ago
- News18
Quick Routes Int'l exits Zinka Logistics; pares 9% stake for Rs 672 cr
New Delhi, Jun 3 (PTI) Quick Routes International on Tuesday exited Zinka Logistics Solutions by selling a 9 per cent stake in the company for Rs 672 crore through open market transactions. Zinka Logistics Solutions is the parent entity of logistics unicorn Blackbuck. According to the bulk deal data available on the NSE, Quick Routes International sold more than 1.59 crore shares in two tranches, representing a 9 per cent stake in Zinka Logistics. The shares were offloaded in the price range of Rs 420.06-420.25 apiece, taking the combined transaction value to Rs 671.76 crore. In a separate transaction on the NSE, Peak XV Partners' affiliate Peak XV Partners Investments VI disposed of 12.10 lakh shares in Zinka Logistics Solutions for Rs 53 crore. The shares were sold at an average price of Rs 444.71 per piece, taking the deal size to Rs 53.84 crore. Meanwhile, Abu Dhabi Investment Authority, Massachusetts Institute of Technology, ICICI Prudential Mutual Fund, SBI Mutual Fund and Nomura India acquired a total of 83.87 lakh shares or cumulatively a 4.73 per cent stake in Bengaluru-based Zinka Logistics. Details of the other buyers of Zinka Logistics' shares could not be ascertained on the National Stock Exchange (NSE). In a separate bulk deal on the BSE, private equity firm Accel through its affiliates — Accel India IV (Mauritius) and Accel Growth Fund V — divested a 2.7 per cent stake in Zinka Logistics Solutions for Rs 204 crore through open market transactions. The shares were sold in the price range of Rs 420.04-420.29 per piece, taking the aggregate deal value to Rs 203.78 crore. Details of the other buyers of Zinka Logistics Solutions' shares could not be identified on the exchange. Shares of Zinka Logistics Solutions rose 1.43 per cent to close at Rs 443.75 apiece on the BSE, and it went up by 0.96 per cent to settle at Rs 441.85 per piece on the NSE. PTI HG AMJ AMJ AMJ First Published: June 04, 2025, 02:00 IST
New Indian Express
5 hours ago
- New Indian Express
Hyundai, Kia offload Ola Electric stakes via block deals
South Korean automakers - Hyundai Motor and Kia Corporation - have divested their entire shareholding in Ola Electric Mobility through block deals, marking a strategic exit from the loss-making electric two-wheeler manufacturer. Hyundai sold 10.8 crore shares at Rs 50.70 apiece, amounting to Rs 552 crore, while Kia sold 2.7 crore shares at Rs 50.55 each, amounting to Rs 138 crores, showed NSE bulk deal data. Shares of Ola Electric closed 8.12% lower at Rs 49.33 on the BSE on Tuesday, As of March 2025, BSE data shows that Hyundai held a 2.4% public stake in the company. Citigroup Global Markets Mauritius purchased 8.61 crore shares at Rs 50.55 per share, thus investing ₹437 crore investment in Ola Electric. The exit by Hyundai and Kia comes days after Ola Electric reported that its losses more than doubled to Rs 870 crore in the fourth quarter of financial year 2025 (Q4FY25) as against Rs 416 crore loss reported in the same quarter of last fiscal (Q4FY24). The company's revenue from operations dropped 59.5% year-on-year to Rs 716 crore. The fall in and bottomline and topline performance is primarily attributed to a sharp decline in sales amid increasing competition from legacy players. Vehicle deliveries came down to 51,375 units in Q4FY25 from 115,000 units in Q4FY24. The company, however, claims to have retained market leadership for FY25, with full-year deliveries coming at 359,000 units, up from 329,000 a year earlier.
