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RSB Retail files for ₹500 crore IPO to boost expansion and repay debt
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Economic Times
22 minutes ago
- Economic Times
Vijay Kedia-owned SME stock jumps 16% in 2 days as unit eyes Nasdaq IPO
Kedia holds a 14.6% stake in the company, one of only three stocks in his portfolio where his holding is above 10%. Synopsis Tac Infosec shares surged following its U.S. subsidiary, CyberScope's, announcement of a planned Nasdaq IPO, a first for an India-listed cybersecurity firm. Veteran investor Vijay Kedia, holding a significant 14.6% stake, has seen his investment appreciate. The stock's performance shows short-term strength but longer-term weakness, with mixed technical indicators. Veteran investor Vijay Kedia's portfolio stock Tac Infosec surged as much as 5% on Wednesday to Rs 985.7 on the BSE, extending a two-day rally to 15.8%, after its U.S.-based subsidiary announced plans to pursue a Nasdaq listing, marking a first-of-its-kind move for an India-listed cybersecurity firm. ADVERTISEMENT Kedia holds a 14.6% stake in the company, one of only three stocks in his portfolio where his holding is above 10%. The other two are Atul Auto and Innovators Facade Systems, in which he owns 20.9% and 10.7% respectively. Tac Infosec, in a press release, said its wholly owned subsidiary, CyberScope Web3 Security Inc., incorporated in the Cayman Islands, has approved filing a confidential Draft Registration Statement with the U.S. Securities and Exchange Commission for a proposed Nasdaq Capital Market IPO. 'This is a truly historic milestone, not only for TAC InfoSec but also for India's wider technology and cybersecurity landscape. By embarking on the path towards a Nasdaq listing, CyberScope is taking a bold step that elevates its vision and innovation to the global arena,' said Trishneet Arora, Founder and CEO of TAC Tac Infosec stock, listed on the NSE in April 2024, has gained 7% over the last month and 57% over the past year. ADVERTISEMENT From a technical perspective, the stock is trading above five of its eight key simple moving averages (5-day to 50-day), suggesting short-term strength, while lagging its 100-day, 150-day, and 200-day SMAs, indicating longer-term weakness. The Relative Strength Index stands at 53.3, while the MACD remains below the centre line. Unlock 500+ Stock Recos on App Kedia, one of India's most closely tracked investors, began investing at 19 and set up Kedia Securities in 1992. His publicly disclosed portfolio, according to Trendlyne, spans 14 companies with a combined market value of over Rs 1,228.1 crore. ADVERTISEMENT Also read | Vijay Kedia exits Tata stock after making multibagger returns in 5 years (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel) NEXT STORY
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Business Standard
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Earnings recovery can revive value funds, invest with 5-year horizon
Allocation to these funds is essential for style diversity within portfolio premium Sarbajeet K Sen Listen to This Article Value funds delivered strong returns in 2023 (up 35.2 per cent) and 2024 (20.1) per cent. However, they have had a turbulent 2025, with a category average loss of 2.8 per cent over the previous year. Despite this, investors remain optimistic, pouring in Rs 1,470 crore in July 2025. As many as 38 schemes managed assets worth Rs 2.04 trillion (as on July 31), according to data from the Association of Mutual Funds in India. 'Value funds had a good run over three to four years as the economic recovery played out post-Covid. Some cyclical adjustment may have played out
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Business Standard
24 minutes ago
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Aurobindo Pharma leads $5 billion race to acquire Prague-based Zentiva
Aurobindo Pharma has emerged as the leading contender to buy Prague-based drugmaker Zentiva from private equity (PE) firm Advent International in a deal estimated at $5-5.5 billion, The Economic Times reported on Wednesday, citing sources. If the deal goes through, it would mark the biggest acquisition by an Indian pharmaceutical company globally. Another firm in the fray includes the United States (US)-based private equity firm GTCR, the report added. 'No binding agreement' yet: Aurobindo However, soon after the report surfaced, Aurobindo issued a clarification stating that "no binding agreement or definitive decision" has been made yet regarding the deal. "The Company regularly explores various strategic opportunities in the ordinary course of its business, including potential acquisitions and partnerships, to enhance long-term shareholder value. However, at present, no binding agreement or definitive decision has been made by the board of directors of the company in relation to the transaction referred to in the said article(s). Accordingly, the said news item is premature and should not be relied upon," the company said in a BSE filing. European push The deal could further expand Aurobindo's presence in the European market, where the firm is already performing well. In the first quarter of the financial year 2025-26 (Q1 FY26), it reported an 18 per cent year-on-year (Y-o-Y) revenue growth in European markets, which stood at ₹2,338 crore, driven by a strong performance across all key segments. Similarly, revenue from growth markets formulations increased by 8.8 per cent Y-o-Y to ₹772 crore in the June quarter, compared to ₹709 crore in the same period last year. Overall, Aurobindo Pharma reported a 10.2 per cent Y-o-Y drop in consolidated profit after tax (PAT) for Q1 FY26, which stood at ₹824 crore. The decline was attributed to a drop in sales in its active pharmaceutical ingredients business and the US market. However, the drugmaker recorded a 4 per cent rise in revenue from operations, reaching ₹7,868 crore in the June quarter, up from ₹7,567 crore in Q1 FY25. Shares of Aurobindo Pharma fell almost 4 per cent to ₹1,047 apiece on the BSE at 2:14 pm following the report.
