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Business Upturn
2 days ago
- Business
- Business Upturn
GNG Electronics IPO Allotment Out: Company not available in dropdown? Here's what you can do
If 'GNG Electronics' doesn't appear in dropdowns yet, the allotment may not be finalized and you should try again later in the evening By Markets Desk Published on July 28, 2025, 16:01 IST The allotment of shares for GNG Electronics Ltd.'s IPO is expected to be finalized today, Monday, July 28, 2025, following a three‑day subscription window that closed on July 25. The company's IPO, valued at ₹460.4 crore, attracted exceptional investor interest, ending with a total subscription of nearly 150×, with Qualified Institutional Buyers (QIBs) bidding 266×, non‑institutional investors 227× and retail investors 47×. Investors who participated can check their allotment via the registrar's portal, Bigshare Services Pvt. Ltd., or through the BSE or NSE IPO allotment pages. If 'GNG Electronics' doesn't appear in dropdowns yet, the allotment may not be finalized and you should try again later in the evening. Shares for successful applicants are expected to be credited to Demat accounts on July 29, with refunds initiated the same day. The stock is set to list on BSE and NSE on July 30. A surge in grey market premium (GMP)—currently around ₹94 per share—suggests a potential listing price of ₹331, or nearly 40% above the IPO price of ₹237. About GNG Electronics: Founded in 2006, the company is India's largest refurbisher of laptops and desktops and among the top global refurbishers of ICT devices under its Electronics Bazaar brand. Its operations span 38 countries, including India, the US, Europe, Africa, and the UAE, delivering refurbished hardware at one‑third the cost of new units—with full after‑sales warranty and services. IPO structure and use of proceeds: The public issue comprised a fresh issue of ~1.69 crore shares (₹400 crore) and an Offer for Sale (OFS) of 25.5 lakh shares (~₹60 crore). Proceeds will be used for debt repayment, working capital and general corporate purposes. Anchor investors invested ₹138.1 crore ahead of the IPO. What's next: With high GMP suggesting strong listing momentum and shares credited soon, attention shifts to listing day pricing and post‑listing performance, which many expect to reflect the confidence of both retail and institutional investors. Ahmedabad Plane Crash Markets Desk at
Business Upturn
6 days ago
- Business
- Business Upturn
Nomura turns neutral on Persistent Systems, trims earnings and highlights mixed revenue performance amid client caution
By Markets Desk Published on July 24, 2025, 08:23 IST Nomura has retained its neutral rating on Persistent Systems, revising the target price to ₹5,510 per share following a mixed set of first-quarter fiscal year 2026 results. While deal wins remained steady, reflecting Persistent's robust sales effort, revenue growth was described as a 'mixed bag,' with some softness linked to slowing client decision-making in a cautious macro environment. Margins held steady compared to prior periods, benefiting from reduced employee stock ownership plan (ESOP) charges, which helped offset some cost pressures. Nomura also implemented a roughly 3% cut to its earnings per share estimates for fiscal years 2026 and 2027, flagging concerns around valuation levels that currently appear rich relative to growth visibility. The brokerage's neutral stance reflects a wait-and-watch approach, balancing Persistent's long-term potential against near-term uncertainties and premium pricing. Ahmedabad Plane Crash Markets Desk at
Business Upturn
6 days ago
- Business
- Business Upturn
Bernstein Sees Infosys as Gen AI Leader, Highlights Robust Q1 Results and Attractive Valuations
By Markets Desk Published on July 24, 2025, 08:17 IST Bernstein maintains its outperform view on Infosys, setting a target price of ₹1,820 per share and underscoring the company's status as an emerging growth leader, especially in the context of generative AI capabilities among large peers. The brokerage's endorsement follows Infosys's operational outperformance in Q1FY26, marked by a solid beat on revenue, margin, and order book metrics Infosys's revenue for the quarter surpassed peer performances and internal estimates, buoyed by high-value, high-frequency deal wins and a visible ramp-up in digital transformation mandates from global clients. Management further narrowed full-year revenue growth guidance to the 1–3% range, reflecting a prudent outlook grounded in reality, while maintaining margin guidance at 20–22%. The standout figure remains the large deal total contract value, which surged to $3.8 billion, a testament to client trust and Infosys's competitive capabilities. Bernstein's report calls particular attention to Infosys's best-in-class AI and digital infrastructure, with management positioning the company at the forefront of Gen AI implementations and partnerships. With valuations now approaching 20x FY27 estimated earnings, Bernstein argues that the stock's risk-reward is compelling relative to both domestic and global peers. The brokerage's narrative frames Infosys as not just a sector heavyweight, but a company rapidly climbing the value chain—leveraging a comprehensive services portfolio, disciplined margin management, and a distinctive edge in digital and AI. For investors, Bernstein believes Infosys offers near-term growth, medium-term earnings stability, and long-term leadership in the next era of technology services Ahmedabad Plane Crash Markets Desk at
Business Upturn
6 days ago
- Business
- Business Upturn
Bernstein turns bullish on India's wealth management sector, initiates call on Nuvama, 360 One Wealth, and Anand Rathi
By Markets Desk Published on July 24, 2025, 08:32 IST As India's affluent population surges, Bernstein has initiated coverage on leading wealth management firms, calling the sector a compelling long-term play on rising household financialisation and private wealth growth. In its report titled 'Wealth Management in an Emerging Market: An Oxymoron No More' , Bernstein forecasts a multi-year growth opportunity and rising market penetration in the organised wealth advisory space. The brokerage noted that India's ultra-rich now hold over $2.7 trillion in wealth, laying the foundation for rapid expansion in financial services. Bernstein has given an outperform rating to Nuvama Wealth Management (formerly Edelweiss Securities) with a target price of ₹9,790/share, and to 360 One Wealth (formerly IIFL Wealth) with a target price of ₹1,410/share. Meanwhile, Anand Rathi Wealth has been rated market perform , with a target of ₹2,580/share. The brokerage highlighted that players like Nuvama and 360 One are well-positioned to tap into a growing pool of high-net-worth individuals (HNIs) and ultra-HNIs, supported by strong technology platforms, differentiated advisory models, and an expanding client base across India's tier-1 and tier-2 cities. While the industry still faces challenges like client stickiness, fee pressure, and competition from global players, Bernstein expects these firms to gain meaningful market share over the next decade as more Indians seek structured financial advice and portfolio diversification. Ahmedabad Plane Crash Markets Desk at
Business Upturn
22-07-2025
- Business
- Business Upturn
Nuvama Institutional Equities now expects Eternal (Zomato) shares to hit Rs 320 after Q1 results
By Markets Desk Published on July 22, 2025, 08:05 IST Eternal Ltd (Zomato) reported a solid set of numbers for the first quarter of FY26, with revenue soaring 70.4% YoY to ₹7,167 crore, significantly beating consensus estimates of ₹6,620 crore. However, despite the top-line beat, EBITDA margin came in at 1.6%, up 40 basis points sequentially but short of the Street's estimate of 2.7%. Profit after tax stood at ₹25 crore, missing consensus expectations of ₹105 crore. Nuvama noted that the biggest positive surprise came from the Quick Commerce (Blinkit) segment, which reported a 127% YoY surge in gross order value (GOV). The brokerage believes Blinkit's rapid growth is sustainable, driven by inventory-led efficiencies, operating leverage, and the maturation of recently added dark stores. While food delivery saw slower momentum, the company has successfully stemmed the deceleration, and Nuvama remains optimistic about margin expansion going forward. 'We are revising our FY26/FY27 earnings estimates upwards by 1.4% and 8.4%, respectively, as Blinkit gains scale and food delivery stabilises,' Nuvama wrote, maintaining a 'Buy' rating with a revised SoTP-based target price of ₹320, up from ₹290 earlier. Ahmedabad Plane Crash Markets Desk at
