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Economic Times
17 hours ago
- Business
- Economic Times
Aditya Infotech IPO opens. Should you apply for the Rs 1,300 crore issue?
Aditya Infotech's Rs 1,300 crore IPO opened on July 29, offering 1.93 crore shares at Rs 640-675 each. Synopsis Aditya Infotech's Rs 1,300 crore IPO opened on July 29, with a price band of ₹640–675 per share, aiming to raise funds for working capital. The company, a leading value-added distributor for security surveillance and enterprise communication systems, has shown strong revenue and PAT growth. However, analysts advise caution due to high valuation and working capital intensity. The Rs 1,300 crore initial public offering (IPO) of Aditya Infotech opened for subscription today, July 29. The company, a technology solutions provider specializing in security surveillance and enterprise communication systems, has set a price band of ₹640–675 per share. The issue is entirely a fresh offer of 1.93 crore shares. It will close on July 31 and be listed on both the BSE and NSE. ADVERTISEMENT The grey market premium (GMP) for the IPO was hovering around Rs 40–45 at the time of opening, indicating mild listing gains. However, the final response will hinge on institutional investor demand and broader market Infotech is a leading value-added distributor (VAD) in India for electronic security equipment. The company partners with global brands like Dahua, Seagate, TP-Link, Panasonic, and others, distributing across 650+ cities with over 15,000 channel partners. Its portfolio includes video surveillance products, access control systems, and networking solutions—catering to government, corporates, and FY22 and FY24, the company's revenue grew at a CAGR of 24%, from Rs 2,090 crore to Rs 3,212 crore. PAT grew from Rs 102 crore in FY22 to Rs 210 crore in margins improved slightly from 9.6% to 10.7% over the same period. However, analysts note that the business remains working capital intensive and exposed to global supply chain risks. ADVERTISEMENT At the upper price band of Rs 675, Aditya Infotech is valued at a P/E of 36.2x on FY24 earnings, which is at a premium to industry peers like Redington and Ingram Micro. The IPO aims to raise funds primarily for working capital needs (Rs 600 crore), with the rest for general corporate purposes. Brokerage firm Bajaj Broking has rated the IPO as 'Subscribe with Caution'. While acknowledging the company's strong brand partnerships, consistent growth, and deep distribution network, the note flags its high valuation and moderate return ratios (RoE 22%, RoCE 20%) as concerns. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Economic Times
4 days ago
- Business
- Economic Times
Bank of Baroda Q1 Results: PAT grows 2% YoY to Rs 4,541 crore, NII decline 1.4%
Bank of Baroda's Q1 profit rose marginally to ₹4,541 crore as NII dipped, while deposits and advances saw double-digit growth across domestic and international segments. Synopsis Bank of Baroda posted a modest 2% YoY rise in Q1 FY26 profit to ₹4,541 crore. Net interest income dipped 1.4%, impacted by tax refund reclassification. Deposits and advances, both domestic and international, grew strongly year-on-year. State-lender Bank of Baroda (BoB) on Friday reported a 2% growth in its Q1 standalone net profit to Rs 4,541 crore versus Rs 4,458 crore in the year-ago period. The company's net interest income (NII) stood at Rs 11,435 crore which was down 1.4% from Rs 11,600 crore reported in the corresponding quarter of the last financial year. ADVERTISEMENT The NII includes the impact of reclassification of interest on income tax refund, a company filing to the exchanges said. BoB's domestic deposits were reported at Rs 12.04 lakh crore, witnessing an 8% uptick over Rs 11.14 lakh crore in the year ago period. International Deposits were up from Rs 2.01 lakh crore in Q1FY25 to Rs 2.31 lakh crore in Q1FY26, recording a 15% growth. Total deposits stood at Rs 14.35 lakh crore, a 9% YoY uptick. Retail Advances were up 17% from Rs 2.22 lakh crore in Q1FY25 to Rs 2.61 lakh crore in Q1FY26. Domestic Gross Advances grew 12% to Rs 9.91 lakh crore from Rs 8.81 lakh crore in the year ago period. Total advances were 14% up YoY at Rs 2.15 lakh crore in the quarter under review. GNPA Ratio stood at 2.28% in Q1FY26, declining by 60 bps over 2.88% in the year ago period. The NNPA ratio stood at 0.60 in Q1FY26, declining 9 bps on a YoY Adequacy Ratio increased 79 bps YoY from 16.82% in Q1FY25 to Rs 17.61% in Q1FY26. ADVERTISEMENT The PSU bank's operating profit was reported at Rs 8,236 crore, a 15% growth over Rs 7,161 crore reported in the year ago Read: Cipla Q1 Results: Cons PAT rises 10% YoY to Rs 1,298 crore, revenue up 4% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Economic Times
5 days ago
- Business
- Economic Times
Ashish Kacholia-backed Shree Refrigerations IPO opens with 64% GMP. Check all details
Shree Refrigerations, a key HVAC and refrigeration systems supplier, is launching its Rs 117.32 crore IPO on Friday, drawing significant investor interest. Synopsis Shree Refrigerations is launching its IPO on Friday. The IPO size is Rs 117.32 crore. Ashish Kacholia and other marquee investors are backing the company. The IPO includes a fresh issue and an offer for sale. The company will use the funds for working capital. Shree Refrigerations specializes in HVAC and refrigeration systems. Shree Refrigerations, a key supplier of mission-critical HVAC and refrigeration systems to the Indian defence and industrial sectors, will open its Rs 117.32 crore IPO on Friday. The IPO, which has generated strong investor buzz with a grey market premium (GMP) of around 64%, is being closely tracked due to the presence of marquee investor Ashish Kacholia. ADVERTISEMENT According to latest shareholding data, Kacholia owns a 4.34% stake in the company. Other notable shareholders include Meru Investment Fund PCC Cell 1 (2.17%) and Maharashtra Defence and Aerospace Venture Fund (17.09%). Promoters currently hold 56.61% of the company. The IPO comprises a fresh issue of 75.61 lakh equity shares and an offer for sale (OFS) of 18.25 lakh shares, taking the total issue size to 93.86 lakh shares. The price band has been fixed at Rs 119 to Rs 125 per share, and investors can bid in lots of 1,000 shares. The allocation includes 26.73 lakh shares for anchor investors, 17.82 lakh for qualified institutional buyers (QIBs), at least 13.39 lakh for non-institutional investors (NIIs), and 31.22 lakh for retail investors. Narnolia Financial Services is the book-running lead manager and MUFG Intime India is the in 2006, Shree Refrigerations is known for building custom HVAC and refrigeration systems for sectors like defence, pharma, food processing, and chemicals. Its state-of-the-art facility in Karad, Maharashtra, is focused on precision manufacturing and in-house design. ADVERTISEMENT In FY25, the company reported revenue of Rs 98.73 crore, EBITDA of Rs 26.94 crore, and a profit after tax (PAT) of Rs 13.55 crore — reflecting strong margins and operational scalability. Management said the IPO proceeds will be used for working capital and general corporate by over four decades of legacy in India's industrial landscape and a marquee shareholder base, Shree Refrigerations' IPO is drawing attention from retail and institutional investors alike. (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Economic Times
5 days ago
- Business
- Economic Times
RBI to conduct Rs 1.25 lakh-crore VRRR
The two day VRR operation was over-subscribed amid a temporary shortage of funds, which pushed call rates to 5.73% on Wednesday, 23 basis points above the repo rate. Synopsis Reserve Bank of India will conduct a variable rate reverse repo operation on Friday. The aim is to absorb ₹1.25 lakh crore from the market. This follows a recent injection of ₹50,000 crore into the banking system through a two-day variable rate repo. An overnight VRR operation was also conducted on Thursday. RBIVRRRbankingfundsrepo rate Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Economic Times
17-07-2025
- Business
- Economic Times
Hindustan Zinc shares in focus after winning 1,841-hectare potash-halite block in Rajasthan
Hindustan Zinc has declared its first interim dividend for the financial year 2025–26. Synopsis Hindustan Zinc posted its highest-ever Q1 mined metal production at 265 KT, up 1% YoY, though down 15% QoQ due to routine mine prep. Refined metal and silver output declined due to maintenance and lower ore quality. Subsidiary HZL Alloys hit record production, while wind power generation surged 113% QoQ, aided by seasonal patterns. Shares of Hindustan Zinc Limited (HZL), a Vedanta Group company, will be in focus on Thursday after the firm announced it has received a Letter of Intent (LoI) from the Ministry of Mines for a major mineral block in Rajasthan. ADVERTISEMENT The LoI pertains to the grant of a composite license for the Jhandawali–Satipura Amalgamated potash and halite block, located in the Hanumangarh district and spanning 1,841.25 hectares. The license was awarded through an e-auction process, in which Hindustan Zinc emerged as the preferred bidder. Also Read: 9 undervalued mid-cap stocks with upside potential of up to 23% Hindustan Zinc reported its highest-ever Q1 mined metal production at 265 kilo tonnes, up 1% year-on-year. However, production was down 15% sequentially due to routine mine preparation activities during the metal output stood at 250 kilo tonnes, down 5% YoY and 7% QoQ. This included 202 kilo tonnes of refined zinc and 48 kilo tonnes of refined lead, both impacted by lower plant availability and scheduled maintenance shutdowns. Meanwhile, Hindustan Zinc Alloys, a wholly owned subsidiary, recorded its highest-ever quarterly production at 5.1 production declined to 149 tonnes, down 11% YoY and 16% QoQ, largely due to lower silver content from the SK mine and a high base in the previous quarter owing to work-in-progress liquidation. ADVERTISEMENT Wind power generation rose sharply to 134 million units, up 24% YoY and 113% sequentially, supported by seasonal wind patterns. Also Read: SBI, Federal Bank among 11 banks that saw NPA improvement in Q4 (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
