Latest news with #MehtaEquities
Economic Times
2 hours ago
- Business
- Economic Times
GNG Electronics shares tumble over 8% after listing. Should you buy, sell or hold?
Shares of GNG Electronics fell over 8% to Rs 325.5 on the NSE after making a strong debut on the exchanges on Wednesday. ADVERTISEMENT The stock opened at Rs 355 on the NSE, marking a premium of 49.8% or Rs 118 over its IPO price of Rs 237. On the BSE, it listed at Rs 350, reflecting a 47.7% gain. However, the initial gains were short-lived as investors booked profits. The Rs 460.43 crore IPO had received a strong response, with an overall subscription of 150.21 times. The issue included a fresh equity issuance worth Rs 400 crore and an offer for sale (OFS) of Rs 60.44 crore. Investor interest was robust across categories—qualified institutional buyers (QIBs) subscribed 266.21 times, non-institutional investors 226.44 times, and retail investors 47.36 times.'GNG Electronics made a solid market debut, largely in line with our expectations, reflecting robust investor enthusiasm,' said Prashanth Tapse, Senior VP (Research), Mehta Equities. 'The IPO witnessed strong demand across categories, particularly from QIBs and NIIs, underscoring confidence in the company's growth story.' ADVERTISEMENT Tapse noted that post-listing valuations appear stretched, limiting near-term upside. 'Conservative investors should consider booking profits and capitalizing on the initial momentum. However, those with a higher risk appetite or long-term horizon may choose to hold, given the scalable business model and sectoral tailwinds.'Shivani Nyati, Head of Wealth at Swastika Investmart, echoed the positive outlook but with caution: 'GNG Electronics Limited made a very strong debut with a listing gain of around 50%. The company offers refurbishing services for ICT devices globally and has shown steady growth. Investors are recommended to secure partial profits and retain the remainder with a stop-loss set at Rs 280.' ADVERTISEMENT GNG Electronics, operating under the 'Electronics Bazaar' brand, refurbishes and sells ICT devices through a vertically integrated model that includes sourcing, refurbishing, selling, and after-sales service. It also provides buyback and e-waste management services for clients such as Vijay Sales, HP, and operations spanning 38 countries and over 4,000 touchpoints, the company is expanding aggressively in the refurbished electronics space—a segment seeing strong demand amid price sensitivity and ESG-conscious procurement. ADVERTISEMENT For FY25, the company reported revenue of Rs 1,420 crore, up 24% from the previous year, while net profit rose 32% to Rs 69 crore. Despite concerns over stretched valuations, many see long-term potential due to its leadership position, global footprint, and participation in the circular electronics economy. Anchor investors had pumped in Rs 138.13 crore before the issue opened, with interest from prominent domestic and global institutions. (You can now subscribe to our ETMarkets WhatsApp channel)
News18
4 hours ago
- Business
- News18
Gold Price Today: Yellow Metal Jump Rs 600, Check 22k & 24K Rates In Major Cities
Gold prices surged amid Trump's warnings to Russia, weakening rupee, and rising crude oil prices. Gold Price Today, July 30: Gold prices saw a sharp spike of over Rs 600 on Wednesday morning amid US JOLTS data showing drop in job openings, Trump's fresh warnings to Russia to stop the Ukraine war within 10 days, weakening of the rupee and rising crude oil prices. In Mumbai, gold prices traded at Rs 1,00,480 per 10 gram for 24-carat gold. Likewise, the prices hovered at Rs 92,100 per 10 gram for 22-carat. Silver price, on the other hand, stood at Rs 1,15,900 per kg. Crude oil rallied again, hitting a five-week peak after the U.S. President took a tough stance on Russia, demanding an end to the Ukraine war within 10 days or face fresh sanctions and tariffs. Gold and silver prices rebounded from recent lows after U.S. JOLTS data for June showed job openings falling to 7.44 million, below both May's 7.77 million and market expectations of 7.51 million, said Rahul Kalantri, VP Commodities, Mehta Equities. He added a weaker rupee and rising crude oil prices aided the recovery, though gains were capped as the dollar index touched a 5-week high amid lingering tariff uncertainty. However, in the futures market on the MCX, gold futures (expiring on August 5, 2025) were trading marginally higher by 0.07% at Rs 99,204 per 10 gram, whereas silver (expiring on September 5, 2025) traded flat at Rs 1,13,803 per kg. About the Author Varun Yadav Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian More Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
a day ago
- Business
- Mint
Shares to buy in short term: Mehta Equities' Riyank suggests Apollo Micro Systems, Eternal, Senores Pharma stock to buy
Stock market today: The Indian stock markets began the day on a low note on Tuesday, influenced by ongoing selling by foreign portfolio investors (FPI) and worries regarding a potential delay in the India-US trade agreement, which could result in a 15 percent tariff. The Nifty 50 index commenced at 24,609.65, falling by 71.25 points or 0.29 percent, while the BSE Sensex started lower at 80,620.25, showing a decline of 270.77 points or 0.33 percent. Market analysts pointed out that Indian equities are presently in an oversold condition, and although a short-term technical recovery could occur, a sustained upward movement is likely to happen only if FPI inflows become positive. From a technical perspective, Riyank Arora of Mehta Equities expressed that if the Nifty 50 does not recover above 24,800, we could experience additional declines in the short term. Arora recommends three stocks to buy in the near-term. Here's what he says about the overall market. The Nifty 50 is trading weak and has slipped below important levels. It is facing selling pressure, and the index can fall further toward 24,450–24,500 if this weakness continues. Market sentiment is negative, and every small bounce is being sold into. Indicators like RSI and momentum are also showing a weak trend. Unless Nifty 50 climbs back above 24,800, we may see more downside in the near term. Traders should follow a sell-on-rise approach and keep strict stop-losses to manage risk in this volatile phase. Bank Nifty is also under pressure after breaking below its key levels. It may slide further toward 55,000 if selling continues. Heavyweights in the banking space are dragging the index lower, and momentum indicators are still pointing to weakness. The index is trading below short-term moving averages, which adds to the negative tone. Any bounce is likely to face selling pressure. Traders are advised to remain cautious and continue with a sell-on-rise strategy while maintaining strict stop-loss levels. Riyank Arora recommends these three stocks in the short term - Apollo Micro Systems Ltd, Eternal Ltd, and Senores Pharma Ltd. Buy | CMP: ₹ 179 | SL: ₹ 170 | Target: ₹ 190 / ₹ 200 Analysis: Apollo Micro share price has broken out above ₹ 175 with strong volumes, which shows renewed buying interest. The stock is trading above key short-term moving averages, and RSI is pointing upwards, suggesting bullish momentum. As long as it holds above ₹ 179, it can move towards ₹ 190 and ₹ 200. Its price pattern of higher highs and higher lows supports the positive view. Traders can consider buying with a stop-loss at ₹ 170 to limit risk while aiming for further upside. Buy | CMP: ₹ 302 | SL: ₹ 290 | Target: ₹ 340 / ₹ 350 Analysis: Eternal share price has bounced strongly from its recent support and crossed ₹ 300 with good volumes. The stock is trading above both its 20-day and 50-day moving averages, showing strength. RSI is also positive, indicating there is room for more gains. If it sustains above ₹ 302, it can reach ₹ 340– ₹ 350 soon. The overall price structure looks healthy, and traders can consider buying with a stop-loss at ₹ 290 for a favorable risk-to-reward trade. Buy | CMP: ₹ 667 | SL: ₹ 600 | Target: ₹ 800 / ₹ 850 Analysis: Senores Pharma share price has given a strong breakout from its consolidation zone with heavy volume. It is trading above key short-term moving averages, which shows strong momentum. RSI is near 68, which is bullish but not overbought. Holding above ₹ 667 can take the stock to ₹ 800– ₹ 850 levels. The chart pattern and strong buying support indicate more upside ahead. Traders can enter at current levels with a stop-loss at ₹ 600 to manage risk. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
News18
23-07-2025
- Business
- News18
Gold Rises To 5-Week High, Silver Touches 14-Year High: Check 24, 22 Carat Gold Rates In Your City On July 23
Gold, Silver Prices Today, July 23: In Mumbai, the price of gold stands at Rs 93,800 per 10 grams for 22-carat and Rs 1,02,330 per 10 grams for 24-carat. Gold, Silver Prices In India Today, July 23: Gold prices witnessed a jump on Wednesday, as the countdown to the US trade tariff deadline stoked global uncertainty. However, the US-Japan deal capped the upside move. In Mumbai, the price of gold stood at Rs 93,800 per 10 grams for 22-carat and Rs 1,02,330 per 10 grams for 24-carat. Silver also declined by Rs 100 to trade at Rs 1,18,100 per kg. However, in the futures market on the MCX, gold futures (expiring on August 5, 2025) were trading higher by 0.06% at Rs 1,00,390 per 10 gram, while silver (expiring on September 5, 2025) rose by 0.49% to trade at Rs 1,16,216 per kg. Rahul Kalantri, vice-president (commodities) of Mehta Equities, said, 'Gold and silver rallied further as the countdown to the US trade tariff deadline stoked global uncertainty. President Donald Trump's warning to escalate tariffs unless a deal is struck by August 1 has pushed investors towards safe-haven assets. Gold soared to a 5-week high and silver nearly touched a 14-year record. Weakness in both the US dollar index and treasury yields, amid expectations of policy easing, supported the rally. On the domestic front, rupee depreciation against the dollar added upward pressure on bullion prices. However, a surprise trade deal with Japan provided some support to currency markets thereby restricting further gains in bullion." International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country. In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals. With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends. First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
22-07-2025
- Business
- News18
Gold Price Today: Yellow Metal Jumps Over Rs 1100; Check City-Wise Rates On July 22
Last Updated: Gold prices in India rose by Rs 1,140 per 10 grams for 24-carat, reaching Rs 1,01,290 in Mumbai. Silver increased by Rs 200 per kg. Gold, Silver Prices In India Today, July 22: Gold price appreciated on Tuesday by Rs 1,140 to reclaim Rs 1 lakh-mark per 10 gram for 24-carat. Silver also witnessed a sharp rise to gain Rs 200 in the morning session. In Mumbai, gold was trading at Rs 1,01,290 per 10 gram for 24-carat and Rs 92,850 per 10 gram for 22-carat. Silver, on the other hand, was trading at Rs 1,18,000 per kg. The precious metals are being boosted by a solidly lower U.S. dollar index and a decline in U.S. Treasury yields. The U.S. trade tariff uncertainty is supported safe-haven buying for precious metals once again, explained Rahul Kalantri, VP Commodities, Mehta Equities. He added that 'in India, the rupee came under pressure following NATO's warning of secondary sanctions on Russian oil imports—lending additional support to gold and silver in local markets." However, in the futures market on the MCX, gold futures (expiring on August 5, 2025) were trading marginally lower by 0.10% at Rs 99,224 per 10 gram, whereas silver (expiring on September 5, 2025) declined by 0.49% to trade at Rs 1,14,481 per kg. view comments Location : New Delhi, India, India First Published: July 22, 2025, 10:08 IST News business » savings-and-investments Gold Price Today: Yellow Metal Jumps Over Rs 1100; Check City-Wise Rates On July 22 Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
