Latest news with #ArunKejriwal
Mint
6 days ago
- Business
- Mint
Highway Infrastructure IPO day 3 Live: GMP, subscription status to review. Apply or not?
Highway Infrastructure IPO day 3: The initial public offering (IPO) of Highway Infrastructure Limited opened on 5 July 2025 and will remain open until 7 August 2025. This means investors have just one day to apply for the public issue. The Indian infrastructure company has declared the Highway Infrastructure IPO price band at ₹ 65 to ₹ 70 per equity share. The company aims to raise ₹ 130 crore from this fresh capital-cum offer for sale. The public issue is proposed for listing on the BSE and the NSE. According to the Highway Infrastructure IPO subscription status, the public offer received a strong response from investors. It had been subscribed to its offer nearly 73 times after bidding on day 2. Meanwhile, company shares are available in the grey market at a robust premium. According to market observers, Highway Infrastructure shares are available at a premium of ₹ 41 in the grey market today. This is ₹ 3 higher than Wednesday's Highway Infrastructure IPO GMP of ₹ 38. Observers said that the Highway Infrastructure IPO GMP has surged despite the sell-off in the secondary market on Wednesday. They expected further improvement in the grey market sentiment regarding the Highway Infrastructure IPO once there is a trend reversal on Dalal Street. By 5:00 PM on day 2 of bidding, the public issue had been subscribed 72.92 times, the retail portion had been booked 73.55 times, the NII portion had been filled 97.70 times, whereas the QIB segment had been booked 7.10 times. Assigning a 'subscribe' tag to the public issue, Anand Rathi says, "At the upper price band, the company is valued at a FY25 P/E of 22.5x, with a post-issue market capitalisation of ₹ 5,020 million. It presents a niche opportunity in India's tollway and EPC infrastructure space, supported by consistent growth and a robust order book. Using ANPR (Automatic Number Plate Recognition) technology in toll systems provides a competitive advantage, while the combination of toll and EPC businesses offers diversified revenue streams. Considering these factors, the IPO seems fully priced, and a "SUBSCRIBE – LONG TERM" recommendation is suggested." On whether one should apply for the IPO, Arun Kejriwal, Founder of Kejriwal Research and Investment Services, said, "Infra is a segment where a four-digit order book is a common phenomenon. Looking at the Highway Infrastructure IPO size of ₹ 130 crore, it seems the company has limited opportunity, and the public issue is on the borderline of SME and mainboard." Highway Infrastructure IPO allotment date is most likely on 8 August, while Highway Infrastructure IPO listing date is most likely on 12 August 2025. 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.
Mint
05-08-2025
- Business
- Mint
Laxmi India Finance share price gains after poor listing, still trades below IPO price. What should investors do?
Laxmi India Finance share price recovered some of losses during Tuesday's trading session following a disappointing debut, although it continued to trade below the initial listing price. Shares of Laxmi India Finance, a non-banking financial company, debuted at a discount of 14% relative to the issue price of ₹ 158. The stock opened at ₹ 136, reflecting a decrease of 13.92% compared to the issue price on the BSE. At 13:50 IST, the stock was trading at ₹ 137.40 apiece. On the NSE, the stock dropped 12.96% to ₹ 137.52 during the initial trading session. The company's market capitalisation was recorded at ₹ 741.42 crore on the NSE. The initial public offering (IPO) of Laxmi India Finance was oversubscribed 1.85 times by the closing day of the share sale on Thursday. Before that, Laxmi India Finance announced it had secured over ₹ 75 crore from anchor investors. Laxmi India Finance IPO price band was set in the range of ₹ 150-158 per share. As stated by Arun Kejriwal, the founder of Kejriwal Research and Investment Services, Laxmi India listing was a disaster. Consequently, the stock has declined by approximately ₹ 20, which is around 12.77%; not much was anticipated, nor should anything significant be expected from current levels. If you participated in the offering and were unfortunate enough to acquire shares, you have the option to either sell at this point or wait for the forthcoming quarterly results. However, for one's own safety, it would be better to put a stop loss somewhere at a lower level so that the losses don't widen beyond a normal level. According to Avinash Gorakshakar, a SEBI-registered research analyst,Laxmi India, an NBFC finance company largely funding MSMEs and based in Jaipur, has not got a favourable listing, as markets perceived the valuation to be rich as compared to other players and would prefer to wait for some strong performance ahead, only after which the stock will get repeated ahead. Further, Harshal Dasani, Business Head, INVasset PMS, added that investors should also consider the macro context. With RBI unlikely to cut rates immediately and cost of funds elevated, smaller NBFCs with high-yield lending books may face NIM pressure. Laxmi's return profile — ROE ~15% — is respectable, but not enough to justify premium valuations in this environment. Until the company demonstrates consistent growth, diversified funding, and scalability across geographies, the stock may stay range-bound. For now, the listing price looks like a ceiling, not a floor. Long-term potential exists — but patience and proof of execution are key. Laxmi India Finance IPO consists of a new issue of 1.04 crore equity shares and a promoters' offer for sale of 56.38 lakh shares. The total size of the IPO is estimated at ₹ 254.26 crore at the highest end of the price range. Funds raised from the new issue will be utilized to strengthen its capital base to support future lending needs and for various corporate purposes. PL Capital Markets is the exclusive lead manager for the IPO. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Hans India
31-07-2025
- Business
- Hans India
Stocks markets down as Trump tariffs take toll
Both NSE Nifty 50 and BSE Sensex traded lower this morning as investor sentiment was down thanks to imposition of US tariff of a minimum 25 per cent on India. The other reason being July 31 is the last Futures Expiry Day. Talking to The Hans India, Arun Kejriwal, a capital market expert, says, 'The impact of Trump imposing 25 per cent reciprocal tariff on India across product categories and also an undisclosed fine and penalty for importing energy and arms from Russia has led to this sharp correction.' Today also happens to be July Futures expiry which has led to the more uncertainty into the market, he said. While a 25 per cent tariff imposed by the US on Indian exports certainly disrupts vital sectors and presents immediate challenges for India's economy, it is improbable that it will significantly alter the country's long-term growth path. India's growth narrative is supported by solid fundamentals such as a growing domestic market, vibrant entrepreneurial spirit, and increasing international partnerships. Additionally, elevated tariffs ultimately raise expenses for consumers and businesses in the US, rendering these measures impractical over time. Both countries have a shared interest in preserving advantageous trade relations, increasing the chances that tariff policies will be revised or eased in the future. Rajesh Palviya, SVP - Research, Axis Securities says, 'As market conditions and consumer demands evolve, both parties may be inclined towards negotiation and collaboration, which could mitigate any lasting effects of temporary tariff increases.'
Mint
14-07-2025
- Business
- Mint
Anthem Biosciences IPO day 1 Live: GMP, subscription status, review, other details. Buy or not?
Anthem Biosciences IPO: The initial public offering (IPO) of Anthem Biosciences Limited has hit the Indian primary market today. The public issue will remain open until 16 July 2025. This means the book build issue will remain open from Monday to Wednesday. The company promoters have declared the Anthem Biosciences IPO price band at ₹ 540 to ₹ 570 per equity share. The company aims to raise ₹ 3,395 crore from this initial offer, which is entirely offer-for-sale (OFS). Anthem Biosciences IPO is proposed for listing on the BSE and the NSE. The company's shares are available in the grey market before the Anthem Biosciences IPO subscription opening. According to market observers, shares of the company are available at a premium of ₹ 101 in the grey market today. 1] Anthem Biosciences IPO GMP: According to market observers, shares of the company are available at a premium of ₹ 101 in the grey market today. 2] Anthem Biosciences IPO subscription date: The public issue has opened today and will remain open until 16 July 2025. 3] Anthem Biosciences IPO price: The company has declared a price band of ₹ 540 to ₹ 570 per equity share. 4] Anthem Biosciences IPO size: The company aims to raise ₹ 3,395 crore from this initial public offering (ipo), which is entirely offer-for-sale (OFS). Photo: Courtesy mintgenie 5] Anthem Biosciences IPO lot size: Bidders can apply in lots, and one lot will comprise 26 company shares. 6] Anthem Biosciences IPO allotment date: The most likely date for share allotment is 17 July 2025. 7] Anthem Biosciences IPO registrar: KFin Technologies Ltd has been appointed registrar of the public issue. 8] Anthem Biosciences IPO lead managers: JM Financial, Citigroup Global Markets, JP Morgan India, and Nomura Financial Advisors have been appointed lead managers of the public offer. 9] Anthem Biosciences IPO listing date: The most likely date for share debut is 21 July 2025. 10] Anthem Biosciences IPO review: Advising invstors to apply for the book-build issue, Arun Kejriwal, Founder of Kejriwal Research and Investment Services, said, "The company is a CRDMO – contract research development and manufacturing organization with fully integrated operations spanning across drug discovery, development and manufacturing with integrated New Chemical entity and New Biological Entity Capabilities. The company reported revenues of ₹ 1,844.55 crores and a PAT of ₹ 451 crores for the year ended March 25. The net margins are a healthy 23.4%. The EPS is ₹ 8.04. The PE multiple on a fully diluted basis is at 67.16-70.90," adding, "The key takeaway from this offer for sale is that the promoter founder of the company would continue to hold over 52% of the company and is not selling a single share in the entirely an offer for sale issue. This is a big comforting factor for investors nowadays, who are very wary of the entire offer for sale issues." Anand Rathi has also assigned a 'subscribe' tag to the public issue, saying, "The company has shown a profitable track record against its peers and intends to maintain it by leveraging its integrated manufacturing and technological capabilities by focusing on building complex speciality ingredients, peptides, probiotics, etc. On valuation parse, based on the annualised FY25, it is seeking PE of 70.6 times, and the post-issue market cap comes at ₹ 3,18,673 Mn. With this, the issue is fairly priced. We believe the company has the potential to continue to grow its revenue and profitability ratios compared to its peers. Hence, we give a "SUBSCRIBE" rating for the issue." Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
01-07-2025
- Business
- Mint
Why does the Indian stock market expect better Q1FY26 results? Explained with four key reasons
Q1FY26 results preview: After almost four quarters of unimpressive earnings, hopes are high that the Q1FY26 earnings will cheer the Indian stock market up. FY25 was a mixed year for Indian corporates, with earnings witnessing widespread downgrades. Soft demand and tepid capital expenditure dragged the overall corporate performance during the last financial year. According to Nuvama Research, the aggregate profit after tax (PAT) of BSE 500 companies (excluding oil marketing companies) saw a modest growth of 10 per cent year-on-year in Q4FY25, and 9 per cent for the full FY25. This was down from a solid 21 per cent growth in FY24. Here are four key factors that indicate Indian Inc.'s performance in Q1FY26 will be better: The Nifty 50 delivered a 4 per cent year-on-year growth in Q1FY25, reporting the first quarter of single-digit EBITDA growth in four years. Experts believe the low base effect will play its part in Q1FY26. "Q1FY26 may be a better year-on-year, mainly because of the low base effect. Also, a lot of cyclical sectors, such as metals, oil and gas, are expected to do well," said Pankaj Pandey, the head of research at ICICI Securities. RBI rate cuts are a key indicator that suggests Indian corporate earnings will be better in FY26 than last year. "The results season for the April to June 2025 quarter will kick in. The larger section of companies is expected to benefit from three successive rate cuts by the RBI. The impact of the first two cuts will be felt on corporates' bottom lines, and this should help in better earnings," said Arun Kejriwal, Founder of Kejriwal Research and Investment Services. "Revenues or topline growth is expected when the liquidity infused by RBI through the CRR cut of 100 basis points in four tranches of 25 basis points each kicks in to match the festival season," said Kejriwal. India's gross collection of goods and services tax (GST) hit an all-time high of ₹ 22.08 lakh crore in FY25, up 9.4 per cent year-on-year, according to an official statement on 30 June. The record GST collection suggests that India's economic activity remained strong last financial year, which should translate into improved corporate earnings. India's inflation eased steadily in FY25, averaging around 4.8 per cent. The relatively moderate price rise meant that companies faced less pressure from input cost inflation. This environment likely supported better operating margins, contributing to improved corporate profitability. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
