Latest news with #GauravGoel
Hans India
5 days ago
- Business
- Hans India
Highway Infrastructure IPO Day 1 Subscription, GMP, Price, Dates & Expert Review
Highway Infrastructure IPO, Highway Infrastructure IPO GMP, IPO Subscription Status, Highway IPO Price Band, Should You Apply Highway IPO, IPO Allotment Date, IPO Listing Date The Initial Public Offering (IPO) of Highway Infrastructure Limited opened on August 5, 2025, and got a good response from investors by 10:48 AM. Subscription Status (Day 1, Morning Update) Overall: 4.08 times subscribed Retail Investors: 5.58 times Non-Institutional Investors (NII): 3.67 times Quick IPO Details Grey Market Premium (GMP): ₹41 Price Range: ₹65 to ₹70 per share IPO Dates: August 5 to August 7, 2025 Total Issue Size: ₹130 crore Fresh Issue: ₹97.52 crore Offer for Sale (OFS): ₹32.48 crore Lot Size: 211 shares in one lot Registrar: Bigshare Services Pvt Ltd Allotment Date: August 8, 2025 Listing Date: August 12, 2025 Lead Manager: Pantomath Capital Advisors Should You Apply? – What Experts Say Swastika Investmart The price looks fair at 18.06 times FY25 earnings The company has a strong order book of ₹6,663 crore, mostly for road construction (EPC) projects Recommendation: Good for both short-term gains and long-term investment Fynocrat Technologies (Gaurav Goel)
Mint
5 days ago
- Business
- Mint
Highway Infrastructure IPO day 1: GMP, subscription status, review, registrar, other details. Apply or not?
Highway Infrastructure IPO day 1: The initial public offering (IPO) of Highway Infrastructure Limited has opened today and will remain open until 7 August 2025. 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. 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 means today's Highway Infrastructure IPO GMP (Grey Market Premium) is ₹ 41. Bidding for the Highway Infrastructure IPO will begin at 10:00 AM today and will remain open until 5:00 PM on each bid date. 1] Highway Infrastructure IPO GMP today: According to market observers, shares of the company are available at a premium of ₹ 41 in the grey market today. 2] Highway Infrastructure IPO price: The infrastructure company has declared a price band of ₹ 65 to ₹ 70 per equity share for the public issue. 3] Highway Infrastructure IPO date: Bidding for the public issue has opened today and will remain open until 7 August 2025. 4] Highway Infrastructure IPO size: The company aims to raise ₹ 130 crore from this public issue, of which ₹ 97.52 crore is aimed at the issuance of fresh shares. The rest, ₹ 32.48 crore, is reserved for the OFS route. 5] Highway Infrastructure IPO lot size: A bidder can apply in lots, and one lot of the public offer comprises 211 company shares. 6] Highway Infrastructure IPO registrar: Bigshare Services Pvt Ltd has been appointed the official registrar of the public offer. 7] Highway Infrastructure IPO allotment date: The most likely date for share allocation is 8 August 2025. 8] Highway Infrastructure IPO lead manager: Pantomath Capital Advisors has been appointed lead manager of the public issue. 9] Highway Infrastructure IPO listing date: The most likely date for the share listing is 12 August 2025. 10] Highway Infrastructure IPO review: Assigning a 'subscribe' tag to the public issue, Shivani Nyati, Head of Wealth at Swastika Investmart, said, "At the IPO upper band, the valuation stands at 18.06x FY25 earnings, with a post-issue market capitalisation of ₹ 5,020 million; the IPO is considered fully priced. The company's order book stands strong at ₹ 6,663 million as of May 2025, mainly from EPC projects. The IPO is recommended as a "SUBSCRIBE – LISTING GAIN AND LONG TERM" for investors seeking exposure to India's infrastructure sector." On whether one should apply to the public issue or not, Gaurav Goel, Founder and Director at Fynocrat Technologies, said, "Highway Infrastructure Limited is backed by a robust order book of ₹ 6,200 crore and a strong track record in executing highway and bridge projects across India. Profitability has improved in recent years, with PAT rising to ₹ 22.4 crore in FY25, while return ratios remain healthy. The company has also managed steady deleveraging, reducing its debt-equity ratio to 0.61 in FY25." However, Goel said that EBITDA margins remain modest at 6–7%, significantly below larger peers, and the IPO valuation at ~30x FY25 earnings appears demanding for a company of this scale. While the fundamentals are stable and sector tailwinds remain supportive, better value exists among established peers with stronger profitability. "The IPO offers an opportunity for near-term gains on the back of sector momentum and balance sheet strength, though long-term investors may prefer larger peers trading at more attractive valuations," Gaurav Goel of Fynocrat Technologies said. 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
6 days ago
- Business
- Mint
Tata Power share price falls over 3% after Q1 results. Opportunity to buy?
Tata Power share price fell over 3% in early trade on Monday after the company reported its Q1 results. Tata Power shares declined as much as 3.28% to ₹ 376.50 apiece on the BSE. The Tata Group company reported a consolidated net profit of ₹ 1,060 crore for the first quarter of the financial year 2025-2026, recording a rise of 9% from the ₹ 971 crore in the corresponding quarter of the previous fiscal year. Tata Power's revenue from operations in Q1FY26 grew 4% to ₹ 18,035 crore from ₹ 17,294 crore, year-on-year (YoY). The company's EBITDA during the June quarter increased 17% YoY to ₹ 3,930 crore. Tata Power Company said its profit after tax from the renewables business jumped 95% YoY to ₹ 531 crore. It commissioned 94 MW RE capacity in Q1 FY26, taking the total operational renewable capacity to 5.6 GW. Analysts have maintained a bullish view on the company after robust performance across business segments and a strong orderbook. 'Tata Power is clearly in a transition phase, shifting focus to clean and green energy. Around 44% of their current capacity is now renewable, and they're aiming for 70% by 2030. That kind of shift requires a lot of investment, and that's showing up in the short-term earnings. But they're building long-term value. They're also growing in areas like EV charging and rooftop solar, which could become strong drivers going forward,' said Gaurav Goel, Founder & Director at Fynocrat Technologies. Elara Capital said that Tata Power stands to benefit from power transmission capex, power distribution reforms and green investments. 'Tata Power aims to increase its RE capacity to 15GW by FY27 and has capex plans of ₹ 842 billion for FY24-27. It is implementing 2.8GW of PSP projects and has a sizeable opportunity in solar EPC. The company's 4.3GW manufacturing plant is running at 90% utilization,' Elara Capital said. It maintained a 'Buy' rating on Tata Power shares with an unchanged target price of ₹ 504 per share, implying an upside potential of nearly 30% from Friday's closing price. JM Financial believes Tata Power's leadership in expanding rooftop solar, the operationalization of integrated solar cell-module manufacturing, the commencement of work on the 1,000 MW Bhivpuri pumped hydro storage plant, continued strong performance in Odisha, and the likely signing of a PPA for Mundra will drive the company's future performance. It estimates the company to report FY25-28 CAGR of 8%, 13% and 13% in Revenue, EBITDA and PAT. The brokerage house maintained a 'Buy' call on the stock with target price of ₹ 436 apiece, implying 13.3x EV/EBITDA and 3.1x P/B on FY27. Tata Power share price has declined by 4% over the past month, though it has registered a 5% gain in the last six months. On a year-to-date (YTD) basis, the Tata Group stock is down 3%, and it has corrected 17% over the past year. Despite the recent underperformance, Tata Power share price has surged 62% over a two-year period and have delivered multibagger returns of 668% over the past five years. At 9:50 AM, Tata Power share price was trading 1.67% lower at ₹ 382.80 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.
Mint
02-08-2025
- Business
- Mint
Tata Power vs Adani Power: Which stock to buy after Q1 results 2025? EXPLAINED
Tata Power vs Adani Power: Indian power majors, Tata Power and Adani Power, declared their Q1 results 2025 on Friday. Both companies reported a strong set of numbers. Adani Power boasts a strong PAT 9Profit After Tax) and EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation), while Tata Power reported its 23rd consecutive quarter of PAT growth, with a strong focus on clean energy, manufacturing, and distribution expansion. This is expected to put Adani Power and Tata Power shares under the bulls' radar on Monday, as these companies have reported strong Q1 results despite weak power demand. Speaking on the Q1 results 2025 reported by these Indian power majors, Seema Srivastava, Senior Research Analyst at SMC Global Securities, said, "During Q1FY26, Adani Power boasts a strong Profit After Tax of ₹ 3,305 crore and Continuing EBITDA of ₹ 5,744 crore, showcasing its resilience. Its strategic focus on swift project execution, strategic acquisitions, and sustainability positions it for future growth towards its 30 GW target by 2030. On the other hand, Tata Power has a 6% YoY growth in Profit After Tax, marking its 23rd consecutive quarter of PAT growth, with a strong focus on clean energy, manufacturing, and distribution expansion." Speaking on Adani Power Q1 results, Gaurav Goel, Founder & Director at Fynocrat Technologies, said, "Adani Power has reported a strong profit of ₹ 3,305 crore, which is slightly lower than last year's ₹ 3,912 crore but still solid, especially considering weaker power demand due to early monsoons and lower merchant tariffs. Revenue also dipped a bit to ₹ 14,167 crore. But despite that, their operating margins stayed healthy, and EBITDA came in at ₹ 5,744 crore, which is a good recovery from last quarter." "What stands out is their focus on scale and efficiency. Even in a low-demand quarter, they remained stable, mainly because of their strong base of long-term PPAs and good cost control. Of course, recent acquisitions have added to depreciation, which is putting some pressure on profits," Goel said, adding, "Tata Power reported higher revenue at ₹ 17,464 crore, but a much lower profit of ₹ 1,262 crore. It looks like underperformance compared to Adani POWER, but there's more to the story." "Tata Power is clearly in a transition phase, shifting focus to clean and green energy. Around 44% of their current capacity is now renewable, and they're aiming for 70% by 2030. That kind of shift requires a lot of investment, and that's showing up in the short-term earnings. But they're building long-term value. They're also growing in areas like EV charging and rooftop solar, which could become strong drivers in the future," Gaurav Goel of Fynocrat Technologies said. On which stock to buy after the announcement of Q1 results 2025, Seema Srivastava of SMC Global said, "For a long-term perspective, Adani Power appears more attractive due to its higher growth potential and lower P/E ratio of around 10-15, compared to Tata Power's P/E ratio of around 32-40. Adani Power's aggressive expansion plans and strategic partnerships, like regular payments from Bangladesh, underscore its core strengths and competitive edge. However, Tata Power's diversified portfolio and strong brand reputation make it a stable choice." 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
01-08-2025
- Business
- Mint
M&B Engineering IPO day 3 Live: GMP, subscription status to review. Apply or not?
M&B Engineering IPO day 3 Live: Bidding for the initial public offering (IPO) of M&B Engineering Ltd opened on 30 July 2025 and will remain open until 1 August 2025. This means investors have just one day to apply for the public issue, as bidding for the M&B Engineering IPO will end today at 5:00 PM. According to the M&B Engineering IPO subscription status, the company has received a strong response from investors in the first two days of bidding. This strong response to the public issue is visible in the M&B Engineering IPO GMP (grey market premium). According to market observers, shares of the company are available at a premium of ₹ 58 in the grey market today, signalling a possible gain of around 15% against the M&B Engineering IPO price band of ₹ 385 apiece. As mentioned, M&B Engineering's IPO GMP today is ₹ 58, which is steady and signals a 15% return on one's money. This could become possible because of the resilience shown by the Indian stock market despite the imposition of Trump's tariffs from 1 August 2025. Market observers said that M&B Engineering IPO GMP may appreciate if the resilience on Dalal Street against Trump's tariffs on India gets extended during the Friday session. Shares of the Company debuted in the grey market on 26 July 2025 at around ₹ 65; since then, it has remained around this level. By 11:21 AM on day 3 of bidding, the public issue had been booked 5.91 times, the retail portion of the public offer had been subscribed 15.39 times, the NII segment had been filled 11.37 times, while the QIB portion had been subscribed 0.04 times. Assigning a 'subscribe' tag to the public issue, Gaurav Goel, Founder & Director at Fynocrat Technologies, said, "M&B Engineering Limited brings over two decades of expertise in the pre-engineered buildings sector, backed by a strong ₹ 4,500 crore order book and a track record of positive operating cash flows. Its profitability profile improved significantly in FY25, with PAT of ₹ 77 crore and a RoNW of 25%. While the IPO is priced at ~28.5x FY25 earnings, a premium compared to its scale, strong growth visibility, consistent cash generation, and sectoral tailwinds support investor participation. Despite concerns around valuation and governance, the company's strong fundamentals, positive cash flows, and robust order pipeline make the IPO attractive at the current price band." Giving a 'subscribe' tag to the public issue, Anshul Jain, Head of Research at Lakshmishree Investment, said, "M&B Engineering Ltd. (MBEL) impresses with its 75% market share in self-supported roofing, a 25%+ ROE, and over 9,500 completed projects—underscoring leadership in India's PEB sector. Backed by strong order books, scalable operations, and strategic in-house design, MBEL is primed to ride the structural boom. Its export reach and experienced management further solidify its growth story. However, overdependence on PEBs and promoter-linked transactions raises governance and concentration risks. Despite these, MBEL's financial strength and sectoral demand tailwinds make it a compelling play. We believe the company offers solid long-term potential in infrastructure-driven growth. Verdict: Subscribe for sustained value creation." However, Shivani Nyati, Head of Wealth at Swastika Investmart, has assigned a 'avoid' tag to the public issue, saying, "The company is a key player in the PEB segment, catering to diverse industries. It has executed nearly 9,500 projects across its Phenix and Proflex divisions as of March 31, 2025. While profit after tax has grown, revenue has been inconsistent over the past three years. The IPO appears to be aggressively valued, based on which current conservative investors may consider avoiding this issue." In addition, Canara Bank Securities, Cholamandalam Securities, Marwadi Shares and Finance, Nirmal Bang, Reliance Securities, SMIFS and Ventura Securities have also assigned a 'subscribe' tag to the M&B Engineering IPO. 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.
