Latest news with #AvinashGorakshakar
Mint
3 days ago
- Business
- Mint
Prostarm Info Systems share price trades flat after decent stock market debut. Should you buy, hold or sell?
Prostarm Info Systems share price made a decent debut in the Indian stock market today as the stock was listed with a premium. On BSE, Prostarm Info Systems share price began trading at ₹ 125 per share, a 19.05% premium to the issue price of ₹ 105. On NSE, Prostarm Info Systems share price was listed with a 14.29% premium at ₹ 120 apiece. The initial public offering (IPO) of power solution products maker Prostarm Info Systems was launched on May 2, Prostarm Info Systems IPO listing date was today, June 3. Prostarm Info Systems IPO listing was better than the Street estimates as the Prostarm Info Systems IPO GMP or grey market premium ahead of debut was around 11%. As Prostarm Info Systems shares have now been listed, here's a look at what analysts suggest. According to Arun Kejriwal, founder of Kejriwal Research and Investment Services, Prostarm Info Systems has delivered a stronger performance than what was indicated by the grey market ahead of its listing. 'Prostarm Info Systems' IPO objectives were not short-term in nature, but focused on medium- to long-term growth. Accordingly, the benefits from this issue will also unfold over the medium to long term,' said Kejriwal. He noted that as the company begins to declare its financial results, investors will have the opportunity to evaluate its performance and potentially reinvest. 'At this point, there is no need for investors to buy the stock at a 20% premium to the issue price. It would be wiser to wait for better opportunities,' he added. For those who have already bought the shares, Kejriwal suggested booking profits and waiting for the stock to consolidate. 'This IPO witnessed strong subscription, and part of the listing gains can be attributed to the euphoria generated during the subscription phase,' he said. Prostarm Info Systems Well-Positioned for Long-Term Growth: Avinash Gorakshakar Commenting on the prospects of Prostarm Info Systems, Avinash Gorakshakar, Head of Research at Profitmart Securities, said the company is well-placed for long-term success. 'Prostarm is a promising player in the power solutions space, catering to several key sectors including defence, aerospace, power, railways, and BFSI. The company has a strong promoter profile with the right skill sets to scale up operations effectively. Overall, it is well-positioned to perform strongly over the long term,' he said. Read Prostarm Info Systems Share Price Live Updates here 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
27-05-2025
- Business
- Mint
Borana Weaves IPO listing date today. Latest GMP, analysts signal positive share debut on BSE, NSE
Borana Weaves IPO Listing: Borana Weaves shares are set to get listed on the Indian stock exchanges today after the conclusion of the company's ₹ 144.89-crore worth initial public offering (IPO). Borana Weaves IPO listing date is today, May 27. Borana Weaves shares will be listed on both the stock exchanges, BSE and NSE. Borana Weaves IPO was open from May 20 to May 22. 'Trading Members of the Exchange are hereby informed that effective from Tuesday, May 27, 2025, the equity shares of BORANA WEAVES LIMITED shall be listed and admitted to dealings on the Exchange in the list of 'T' Group of Securities,' a notice on BSE said. Borana Weaves shares will be in the Trade-for-Trade segment for 10 trading days. The stock will be a part of Special Pre-open Session (SPOS) on Tuesday, May 27, 2025, the notice added. Borana Weaves shares will be available for trading from 10:00 AM on BSE and NSE. Ahead of the Borana Weaves IPO listing today, investors watch out for the trend in the grey market premium (GMP) to gauge the listing price. Borana Weaves IPO GMP today and analysts signal a positive listing of Borana Weaves shares today. Here's a look at what Borana Weaves IPO GMP today ahead of listing indicates: Borana Weaves shares are witnessing a bullish momentum in the unlisted market with a strong GMP ahead of listing today. According to stock market observers, Borana Weaves IPO GMP today ranges between ₹ 35 to ₹ 43 per share. This means that in the grey market, Borana Weaves shares are trading higher by ₹ 43 than their issue price. Considering Borana Weaves IPO GMP today, the estimated Borana Weaves IPO listing price would be ₹ 259 per share, which is at a premium of 20% to the issue price of ₹ 216 per share. Analysts also expect Borana Weaves IPO listing to be at a decent premium. 'Borana Weaves has indeed seen a strong response from all categories of investors, particularly the NIIs and retail segment. Given the strong subscription numbers and a current grey market premium of ₹ 35, we're looking at a potential listing around ₹ 251, which is about a 16% gain over the issue price of ₹ 216,' said Mahesh M. Ojha. AVP Research and Business Development at Hensex securities Pvt Ltd. Borana Weaves boasts the highest EBITDA margin (21%) and industry-leading return ratios ROE of 65.69% and ROCE of 36.29% in FY24 far ahead of its peers. Avinash Gorakshakar, Head of Research at Profitmart Securities expects Borana Weaves shares to open strongly as the company is a well established player in the yarn market and caters to a large well-established customers who patronise its quality. Vinit Bolinjkar, Head of Research, Ventura Securities said that the Borana Weaves share price is richly valued, noting that the company raised money at 10X EV /EBIDTA on assumed FY25 earnings. The initial public offering (IPO) of Gujarat-based unbleached synthetic grey fabric manufacturer Borana Weaves commenced for public subscription on Tuesday, May 20, and concluded on Thursday, May 22. The IPO allotment was fixed on May 23, and Borana Weaves IPO listing date is today, May 27. The company raised ₹ 144.89 crore from the IPO at a fixed price band of ₹ 216 per share. Borana Weaves IPO was entirely a fresh issue of 67.08 lakh equity shares. The public issue was subscribed by a staggering 148.78 times in total. The IPO was booked 200.53 times in the retail category, 87.21 times in the Qualified Institutional Buyers (QIBs) category, and 237.42 times in the Non Institutional Investors (NII) category, NSE data showed. Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Borana Weaves IPO, while Kfin Technologies 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.
Mint
23-05-2025
- Business
- Mint
Sensex jumps over 900 points, Nifty 50 reclaims 24,900; why is the Indian stock market rising? Can the rally sustain?
The Indian stock market has been on a volatile path recently, seeking direction amid heightened uncertainty over the US economy's trajectory, a fluctuating dollar, and mixed March quarter earnings. A day after crashing over 600 points, the domestic equity benchmark, Sensex, jumped over 900 points in intraday trade on Friday, May 23. The NSE counterpart also witnessed smart gains of over 1 per cent to reclaim the 24,900 level. The broader segment of the market also witnessed buying as the BSE Midcap and Smallcap indices rose about half a per cent during the session. There are no fresh positive cues for the Indian stock market at this juncture. At first glance, it appears that the domestic market is following the trend of "sell-on-rise and buy-on-dips". The domestic equity market has been swinging between gains and losses. This lack of clear direction reflects the underlying uncertainty surrounding key global developments, including the progress of US-India trade negotiations, concerns about the US fiscal position, and fluctuations in currency markets. The intermittent rise in the market can be attributed to short covering, as investors continue to see value due to prospects of healthy economic growth, an earnings revival, interest rate cuts, and a normal monsoon. "At present, market momentum is largely driven by liquidity rather than fundamentals. Greater clarity is expected to emerge after the first and second quarters of the current financial year. By September, we may see a more defined trend as macroeconomic indicators and corporate earnings provide direction," said Avinash Gorakshakar, the head of research at Profitmart Securities. Another factor that could be behind the market's gain is the weakness in the US dollar. The dollar index has declined by over 1 per cent this week, looking set to suffer its worst weekly loss since April 7. A weaker dollar can encourage greater foreign capital inflows to emerging markets like India. Despite the near-term volatility, the medium to long-term outlook of the Indian stock market remains healthy, reflecting India's macroeconomic stability amid global uncertainty and the strong influx of retail investors. This bright outlook encourages investors to accumulate quality stocks during market corrections. According to global financial giant Morgan Stanley, the correction in the Indian stock market presents a compelling opportunity to invest in the country's long-term growth story. In its latest outlook, Morgan Stanley has set a base-case Sensex target of 89,000 by June 2026, assigning a 50 per cent probability to this scenario. On the other hand, in the bull case, Morgan Stanley sees the Sensex reaching 1,00,000 by June 2026. However, Morgan Stanley sees a 20 per cent probability of a bear case in which the Sensex may drop to 70,000 by June 2026. 'Despite the near-term uncertainty, there is considerable value in the current market. Long-term investors would do well to accumulate quality stocks on dips, as any eventual recovery could be swift and decisive,' Gorakshakar noted. At this juncture, experts say a significant rally appears unlikely. A consolidation may continue as the market digests global developments, macro prints and Q4 earnings. "The market is expected to consolidate in the coming months, reacting to developments such as the progress of the monsoon season, quarterly earnings, and broader economic indicators," said Gorakshakar. The key risk for the market could be a change in stance by foreign institutional investors (FIIs). VK Vijayakumar, Chief Investment Strategist at Geojit Investments, pointed out that sustained FII buying, which played an important role in this rally, appears to have run out of steam. "The big FII selling on 20th and 22nd of this month indicates that the FIIs may again turn sellers if the global environment turns unfavourable," said Vijayakumar. FIIs are tracking the dollar index and responding to currency volatility. If earnings revive notably, they may engage in aggressive buying. "While Q4 earnings were a mixed bag — neither particularly weak nor inspiring — investors are now looking for green shoots in the April-June quarter results," said Gorakshakar. Furthermore, the recent downgrade of US creditworthiness could create fresh opportunities for foreign capital inflows into emerging markets, including India, making the current phase an attractive entry point for investors. Amid prevailing global headwinds, the market's trajectory will depend on economic growth, inflation trends, and monetary policy decisions. "The silver lining from the market perspective is India's strong macros, particularly the resilient growth and declining inflation and interest rates," Vijayakumar noted. "Even when the market turns weak, domestic demand-driven segments like financials, telecom, aviation, etc., are resilient, and this is reflected in the strength in the stock prices of the big boys in these segments like ICICI Bank, Bharti Airtel and IndiGo. This message from the market is important," said Vijayakumar. Read all market-related news here Read more stories by Nishant Kumar
Mint
09-05-2025
- Business
- Mint
Bharat Dynamics to BEL — defence stocks surge as India-Pakistan tensions escalate; should investors buy?
Most defence stocks, including Bharat Dynamics (BDL), Bharat Electronics (BEL), Paras Defence and Space Technologies, Zen Technologies and DCX Systems, jumped 4 to 8 per cent in morning trade on the NSE on Friday, May 9, amid escalating tensions between India and Pakistan. Thematic index Nifty India Defence jumped over 3 per cent, with most stocks up with significant gains. The index was 3 per cent up at 7,086 around 10:15 AM, with shares of Mishra Dhatu Nigam, Data Patterns (India), Hindustan Aeronautics (HAL), Astra Microwave Products, Mazagon Dock Shipbuilders, Cochin Shipyard, BEML and Data Patterns (India), up between 1 to 2 per cent. Equity benchmark Nifty 50 was 0.86 per cent down at 24,066 at that time. Defence stocks jumped while benchmark indices fell by about a per cent due to a fresh escalation in India-Pakistan tensions. Amid rising tensions, the order flow for defence companies is expected to rise. The market is discounting this. "With rising tensions between India and Pakistan, defence companies have been directed to ramp up production, providing a sentiment-driven boost to defence stocks," said Avinash Gorakshakar, the head of research at Profitmart Securities. The Indian Army shot down over 50 Pakistani drones during a large-scale counter-drone operation along the Line of Control (LoC) and the International Borders (IB) on Wednesday night, according to sources confirming to ANI. The Indian government on Thursday said that the Indian Armed Forces neutralised the air defence system at Lahore. "The Indian Armed Forces targeted Air Defence Radars and systems at a number of locations in Pakistan. Indian response has been in the same domain with the same intensity as Pakistan. It has been reliably learnt that an Air Defence system at Lahore has been neutralised," said a Ministry of Defence statement. After the Pahalgam terror attack on April 22, which left 26 persons dead, India conducted Operation Sindoor on May 7 and targeted terror camps in Pakistan and Pakistan-Occupied Kashmir. Defence stocks are expected to enjoy positive momentum in the near term due to the prospects of increased demand. However, the valuation of most stocks in the segment is rich, which seems to have made experts cautious about them. Experts believe the defence sector may offer long-term potential, but at present, valuations appear stretched. Investors are advised to avoid sentiment-driven buying and wait for more reasonable entry points. "Investors should remain cautious and avoid chasing the news blindly. Valuation remains a key consideration—buying at elevated levels purely based on short-term headlines may not be prudent for long-term investing," said Gorakshakar. Gorakshakar said if the market corrects, select defence stocks could offer attractive entry points. But indiscriminate buying at any price is unwise. "Once news flows begin to indicate easing tensions, these stocks may lose momentum. Moreover, the conflict is not expected to persist over an extended period, which limits the sustainability of this rally," Gorakshakar said. Prashanth Tapse, Senior VP (Research) at Mehta Equities, is positive about Hindustan Aeronautics Ltd (HAL) and Data Patterns (India). Tapse pointed out that he recent India-Pakistan episode has underscored India's growing capability in producing powerful and effective defence equipment. The global spotlight on the efficiency, quality, and impact of these systems could drive increased international orders in the coming years. "At current valuations, select defence stocks such as Hindustan Aeronautics Ltd (HAL) appear reasonably priced and may offer attractive long-term opportunities. Long-term investors may also consider Data Patterns (India) as a potential addition to their portfolios," Tapse said. While investors may selectively bet on defence stocks, it could also be time to consider other sectors with low valuations and strong potential to outperform. Experts say this is the time to accumulate quality stocks from domestic-oriented sectors. "Smart investors should consider accumulating quality stocks at current levels. Focus on domestic-oriented sectors such as cement, infrastructure, capital goods, hotels and hospitality, and consumer-driven businesses, which are well-positioned to benefit from India's long-term growth story. While sectors like IT, pharma, and metals may currently face uncertainty, potential trade agreements could provide much-needed clarity," Gorakshakar said. "Investors should stay optimistic about India's prospects—after all, foreign institutional investors (FIIs) continue to invest, indicating their confidence that the current challenges are temporary," Gorakshakar pointed out. 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.
Mint
25-04-2025
- Business
- Mint
Reliance Industries Q4 results today: Jio to Retail — 5 things to watch out for in Mukesh Ambani-led company's earnings
Reliance Industries Ltd (RIL), the billionaire Mukesh Ambani-led oil-to-telecom conglomerate, is set to report its Q4 results today. Along with the Reliance Q4 results, the company will also declare its earnings for the full financial year ending 31 March 2025. Reliance Industries Q4 results are expected to be mixed, with modest growth anticipated in the telecom and retail segments, while the oil & gas business could face headwinds from elevated crude oil prices. 'Reliance Industries Q4 results are expected to remain stable. However, operating profit may come under pressure due to higher crude oil prices. The oil and gas business could stay flat, while Jio and the retail segment may post some growth. Overall, it is likely to be a mixed and stable quarter, with no major surprises expected. Markets are pricing in a tepid Q4 performance," said Avinash Gorakshakar, the head of research at Profitmart Securities. Here are 5 key things to watch out for in Reliance Q4 results today: Reliance Industries' consolidated revenue is expected to rise 2.6% QoQ to ₹ 2,46,263 crore, compared to ₹ 2,39,986 crore in the previous quarter. Consolidated EBITDA is projected to increase marginally by 0.5% to ₹ 44,002 crore, versus ₹ 43,789 crore in Q3FY25, according to Kotak Institutional Equities. However, the EBITDA margin is expected to contract by 38 basis points to 17.9% from 18.2% QoQ. Reliance's Oil-to-Chemicals (O2C) segment is likely to post a 14% YoY decline in EBITDA, while remaining flat sequentially. The decline is attributed to weaker product cracks and lower petrochemical spreads, as per estimates by Nuvama Institutional Equities. Benchmark Singapore Gross Refining Margins (GRMs) have dropped 58% YoY, reflecting the global weakness in product cracks. The Oil & Gas business is expected to report a 9% YoY drop in EBITDA and an 8% decline QoQ, primarily due to reduced output from the KG-D6 block. This comes despite a 2% YoY increase in deepwater gas prices, which remained flat sequentially. Reliance Jio is expected to report a 1.5% QoQ rise in standalone revenue to ₹ 30,058 crore, driven by subscriber additions and a slight improvement in Average Revenue Per User (ARPU). Jio's ARPU is estimated to grow 0.7% QoQ to ₹ 204.8 from ₹ 203.3, aided by the ongoing benefits of the July 2024 tariff hike, despite Q4FY25 having two fewer days. EBITDA for Jio is projected to grow 1.6% QoQ to ₹ 16,056 crore, with margins expanding by 10 basis points to 53.4%. The retail segment is expected to deliver a steady performance in Q4. EBITDA is estimated to grow 11% YoY, supported by increased store footprint, better margins, and improved realisations. Going forward, investor attention will be on management commentary around margin outlook, developments in new energy initiatives, the timeline for potential listings of Jio and Reliance Retail, the crude oil price outlook, 5G rollout strategy, retail network expansion, and updates on KG-D6 production trends and future exploration plans. At 9:40 AM, Reliance share price was trading 0.99% higher at ₹ 1,314.50 apiece on the BSE. 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. First Published: 25 Apr 2025, 09:40 AM IST
