Latest news with #AvinashGorakshakar
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.
Business Recorder
04-07-2025
- Business
- Business Recorder
Indian benchmarks log weekly losses on caution over trade deal, Jane Street ban
Indian benchmarks edged up on Friday, lifted by IT stocks after upbeat U.S. jobs data eased economic concerns and a late rebound in financials, but posted losses for the week as investors remained cautious ahead of a potential India-U.S. trade deal. The Nifty 50 rose 0.22% to 25,461, and the BSE Sensex added 0.23% to 83,432.89. Both benchmarks lost about 0.7% this week, after a sharp 15% rally between March and June pushed valuations above 10-year averages. Market participants are eyeing the outcome of trade talks, with President Donald Trump's July 9 deadline for reciprocal tariffs fast approaching. 'There's growing unease that the deal may not be as favourable as initially expected,' said Avinash Gorakshakar, director of research at Profitmart Securities. 'Investors are trying to assess which Indian sectors might take a hit.' Seven of the 13 major sectors declined this week. Small-cap and mid-cap indexes rose 0.3% and 0.5%, aided by steady domestic inflows, a stable monsoon outlook, and hopes of stronger June-quarter earnings on a low base. Financials slipped 1.75% for the week, retreating from record highs. Indian stocks down as profit booking in financials overshadows trade deal optimism Valuation concerns and broad profit-booking also kept markets subdued this week, according to analysts. On the day, shares of stock exchange BSE and brokers Nuvama Wealth, and Angel One dropped after the markets regulator barred Jane Street, one of the world's largest quant trading firms, from India's securities market citing manipulation through derivative positions. 'We're already seeing pressure on broking firms and capital market-related stocks, likely due to the anticipated unwinding of positions,' Gorakshakar said, referring to the impact of the regulator's action. IT index rose 0.8% on the day aided by upbeat U.S. jobs data while financials rebounded after the four-session drop Among individual stocks, Trent slumped 11.9% on the day to settle 9.4% for the week, on weak growth commentary. Trent was the top Nifty loser on both the daily and weekly basis.
Mint
24-06-2025
- Automotive
- Mint
Samvardhana Motherson to Bosch: Experts bullish on these six auto stocks; here's why
Shares of Uno Minda, Bosch, Mareli, TVS Group, Motherson Sumi, and Sona Comstar are in focus following reports that Indian firms are working to create domestic rare earth magnet supply chains due to restrictions on exports from China. As reported by ET Online, Indian companies are increasing efforts to develop local rare earth magnet supply chains in response to China's export limitations. Midwest Advanced Materials, Entellus Industries, and IREL have submitted proposals to the government, with the goal of minimizing dependence on imports from China. The government is contemplating incentives to bolster local production, addressing the auto industry's worries about supply timelines, as indicated in the reports. Avinash Gorakshakar SEBI registered fundamental equity analyst said that there are reports that the government of India (GoI) has unveiled the ₹ 3500 to ₹ 5000 crore PLI Scheme for rare-earth magnet manufacturing. This move is aimed at benefiting auto and metal companies. There are reports that Uno Minda, Bosch, Mareli, TVS Group, Motherson Sumi, and Sona Comstar have shown interest in rare-earth magnet manufacturing. So, if the report comes true, these auto stocks are expected to show sharp upside movement in the near term.
Mint
17-06-2025
- Business
- Mint
Israel-Iran war: Mazagon Dock, GRSE, Bharat Dynamics, other defence stocks rally. Do you own any of these?
Defence stocks in India witnessed a sharp rally on Tuesday as the ongoing conflict between Israel and Iran entered its fifth day, heightening geopolitical tensions. The Nifty India Defence Index climbed over 1.6% during the session, breaching the 9,000 mark. Mazagon Dock Shipbuilders share price emerged as the top performer on the index, surging more than 5%. Garden Reach Shipbuilders & Engineers shares jumped over 4%, while Data Patterns (India) shares advanced more than 3%. Other major gainers included Bharat Dynamics, Cochin Shipyard, Solar Industries India, BEML, and Hindustan Aeronautics (HAL), which rose between 1% and 2%. In contrast, Zen Technologies, Mishra Dhatu Nigam, and Astra Microwave Products shares traded marginally lower, bucking the broader trend. The renewed investor interest in defence stocks was driven by expectations of increased defence spending and order inflows amid rising global security concerns. The escalation of the Israel-Iran conflict has intensified market anticipation of higher demand for defence equipment and services, analysts said. Defence stocks had already gained traction last month following India's targeted military strikes on terrorist outfits in Pakistan under Operation Sindoor. While tensions between India and Pakistan have since de-escalated, the prolonged Russia-Ukraine conflict continues to underpin bullish sentiment in the sector. The latest developments in the Middle East have further strengthened the outlook for India's defence stocks, with investors betting on sustained growth in defence orders and strategic investments. However, analysts have flagged valuation concerns following the recent sharp rally in defence stocks. 'While defence stocks such as Garden Reach, Mazagon Dock, HAL, BEL, and BDL remain attractive from a long-term perspective, current valuations appear stretched. The recent uptrend is largely driven by sentiment and prevailing geopolitical narratives,' said Avinash Gorakshakar, Head of Research at Profitmart Securities. He advised investors to consider accumulating these stocks with a long-term horizon of at least two years. 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
03-06-2025
- 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.
