Page 37 - Stock Markets

Matrix Gas & Renewables raises Rs 350 crore capital in pre-IPO round

Matrix Gas and Renewables Ltd (Matrix) on Tuesday said it has raised Rs 350 crore in the pre-IPO round to accelerate expansion of its gas business, acquisitions, and funding capital expenditure plans. "The pre-IPO (Rs 350 crore) round saw participation from key investors like Gunavanth Vaid (4GCapital Venture), Sarda Group, Sunil Kumar Singhvi (Singhvi Heritage LLP), Blue Lotus Fund, NAV Capital Emerging Fund and the promoters of the company," it said in a statement. Matrix is a Gensol Group company and is the fastest-growing green hydrogen infrastructure developer and natural gas aggregator. "Matrix has successfully raised Rs 350 crore in the pre-IPO round," it said. "With the current capital raise, Matrix is now well positioned to accelerate its growth initiatives towards expanding market share for the gas aggregation business, acquiring city gas distribution (CGD) assets, and funding the ongoing capital expenditure plan. This round will also expedite setting up and commissionin

Consensus price targets hint at modest stock market upside this year

Analysts expect Nifty50 components to gain an average 6.6%, Nifty Midcap 100 about 2%

Investors subscribe R K Swamy IPO 2.18 times on first day of bidding

The initial public offering of integrated marketing services firm R K Swamy was subscribed 2.18 times on the first day of bidding on Monday. The Rs 423.56 crore-initial share sale received bids for 1,79,73,350 shares against 82,32,946 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) got subscribed 7.84 times and non-institutional investors part received 2.97 times subscription. The quota for Qualified Institutional Buyers (QIBs) got subscribed 1 per cent. The Initial Public Offering (IPO) has a fresh issue of up to Rs 173 crore and an Offer For Sale (OFS) of up to 87 lakh equity shares worth Rs 250.56 crore at the upper end of the price band. The IPO comes in a price range of Rs 270-288 a share. RK Swamy Ltd on Friday said it has collected Rs 187 crore from anchor investors. Funds raised through the fresh issue would be used for setting up a digital video content production studio, establishing new customer experience centres and computer-aide

Focus on fundamentals as valuations of stocks reach sky-high: Mirae Asset

"There are pockets of froth we are avoiding, particularly, where valuations have surpassed fundamentals," said Neelesh Surana, chief investment officer - equity at the firm

Smallcaps not in extreme bubble territory: IIFL Securities chairman & MD

Venkataraman observes that markets will also receive support from monetary easing globally

Turning cautious: Retracing market volatility in February, shows data

The Nifty Smallcap 100 and the Nifty Midcap 100 posted their first monthly loss after three months, even as the benchmark Sensex and the Nifty managed to eke out 1 per cent gain

47 Chinese companies cancel IPO plans as watchdog tightens listing rules

"Under high-pressure regulation, the number of IPO (initial public offering) withdrawals reached a new high," securities broker Shenwan Hongyuan said in a note

Angel One plans to raise Rs 2,000 cr to tap opportunities in fintech space

The stockbroker plans to move beyond equity and mutual funds and will offer distribution of credit and fixed-income products

Sensex gyrates 1,175 pts intraday, ends 535 pts higher; Nifty tops 22,200

Stock market highlights on Thursday, February 22, 2024: The Nifty50 index hit a record high of 22,252.5 in late deals

SBI becomes 5th most valuable firm in terms of mcap, surpasses Infosys

Public sector lender State Bank of India (SBI) has surpassed IT major Infosys to become the country's fifth most valued firm by market valuation on Wednesday. The scrip of the state-owned company gained 1.51 per cent to close at Rs 771.55 apiece on the BSE. During the intra-day trade, shares of SBI hit its 52-week high of Rs 777.50 per piece. At the end of trading session of Wednesday, the market capitalisation of SBI stood at Rs 6,88,578.43 crore, which is Rs 1,228.48 crore more than Infosys' Rs 6,87,349.95 crore valuation. Accordingly, SBI became the fifth most valued company on the BSE. In the ranking of top 10 most valued firms, Reliance Industries continued to rule the chart followed by Tata Consultancy Services, HDFC Bank, ICICI Bank, SBI, Infosys, Life Insurance Corporation of India, Bharti Airtel, Hindustan Unilever and ITC.

Sensex sinks 434 pts in fag-end, Nifty holds 22,050; ZEE tanks 14%

Stock market highlights on February 21, 2024: In the broader markets, the BSE MidCap index fell 1.27 per cent, while the BSE SmallCap index declined 0.84 per cent

Whirlpool sells 24% stake in India unit for $468 mn, now holds 51%

Whirlpool conducted the sale through its subsidiary in Mauritius, reducing its stake in the entity from 75% to 51%

Mutual fund folios continue upward trajectory; adds 4.7 mn accounts in Jan

Mutual fund industry has seen an uptick in folios, with the addition of 46.7 lakh investors' accounts in January, fuelled by increasing awareness about the financial instrument and ease of transactions through digitisation. Over the past year, average folio additions were 22.3 lakh per month and the latest figure was more than double this level. With this addition, mutual fund folios of the industry stood a shade away of 17 crore at 16.96 crore currently, a surge of 19 per cent from 14.28 crore registered a year earlier, latest data with the Association of Mutual Funds in India (AMFI) showed. On a month-on-month basis, the industry has seen a growth close to 3 per cent in folio numbers from 16.49 crore recorded in December 2023. Folios are numbers designated to individual investor accounts. An investor can have multiple folios. WhiteOak Mutual Fund Chief Business Officer Prateek Pant said that factors such as high levels of digital literacy, rising disposable incomes, and increase

Tolins Tyres files draft papers with Sebi to raise Rs 230 cr through IPO

Tolins Tyres Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 230 crore through an initial public offering (IPO). The Kerala-based company's initial share-sale is a combination of fresh issue of equity shares worth Rs 200 crore and an offer-for-sale (OFS) of equity shares to the tune of Rs 30 crore, according to the draft red herring prospectus (DRHP) filed on Friday. Promoters -- Kalamparambil Varkey Tolin and Jerin Tolin-- will offload shares worth Rs 15 crore each through the OFS route. They own 83.31 per cent stake in the company at present. The company may consider raising Rs 25 crore in a Pre-IPO placement round. If such placement is undertaken, the fresh issue size will be reduced. Of the Rs 200 crore IPO proceeds, Rs 75 crore will be used to augment long-term working capital requirements of the company and Rs 62.55 crore for payment of debt. Further, Rs 24.36 crore will be used for investment in the company's subsidiary, Tolin Rubbers Privat

GPT Healthcare's IPO to open on February 22, PE firm BanyanTree to exit

The Initial Public Offering (IPO) GPT Healthcare Ltd, which operates and manages mid-sized multi-specialty hospitals under the ILS Hospitals brand, is set to open on February 22. The initial-share-sale is scheduled to conclude on February 26. The bidding for anchor investors will open for a day on February 21, according to the Red Herring Prospectus (RHP). The IPO is a combination of a fresh issue of equity shares aggregating to Rs 40 crore, and an Offer For Sale (OFS) of up to 2.6 crore equity shares by private equity firm BanyanTree Growth Capital II. BanyanTree, which holds 2.6 crore shares or 32.64 per cent stake in Kolkata-based GPT Healthcare, is divesting its entire shareholding in the company. Proceeds from the fresh issue will be used for payment of debt and general corporate purposes. GPT Healthcare, which started with an eight-bed hospital in Kolkata in 2000, operates four full-service multi-specialty hospitals, with a total capacity of 561 beds. The company competes

EPACK Durable Q3 results: Net profit at Rs 4.83 cr, revenue at Rs 279 cr

EPACK Durable Ltd on Thursday reported Rs 4.83 crore consolidated net profit for the third quarter ended December 2023. The company had posted a net loss of Rs 6.30 crore during the October-December quarter a year ago, EPACK Durable said in a regulatory filing. Its revenue from operations was Rs 279.05 during the quarter under review. In the year-ago period, the company's revenue from operations stood at Rs 275.61 crore. This is the first quarterly result of the Noida-based original design manufacturer (ODM) after its listing on January 30, 2024. Its total expenses were Rs 273.92 crore in the December quarter. Shares of EPACK Durable Ltd on Thursday settled at Rs 186.30 on the BSE, up 2.59 per cent.

Anil Agarwal's Vedanta Resources sells stake worth Rs 1,737 crore

Finsider International, part of billionaire Anil Agarwal-led Vedanta Resources, sold more than 65.5 million Vedanta Ltd shares at 265.14 rupees each, the data showed

Largecap heavy funds back in reckoning as smallcap fever recedes

In a first in 17 months, largecap, flexicap funds outpace smallcap schemes in terms of flows

NSE, BSE to hold trading session on March 2 to assess mkt infrastructure

Session to assess the preparedness for any unforeseen event, test transition to disaster recovery site

Mutual Fund investors' grievances decline to 485 in first half of FY24

Mutual funds industry body Amfi on Wednesday said that the number of complaints received from investors and distributors was 485 for the half-year ended September 30, 2023, a decline of 21 per cent from the year-ago period. The consistently low complaint numbers highlight the mutual fund industry's continuous efforts to elevate service quality and transparency. In the first half of the fiscal year 2023-24, a total of 485 complaints were received, which was way lower than 619 complaints received in the same period of preceding fiscal, Association of Mutual Funds in India (Amfi) said in a statement. For the same period, the net assets under management increased from Rs 41.62 lakh crore in April 2023 to Rs 46.58 lakh crore at the end of September 2023 driven by a strong equity market, steady interest rates, and robust economic growth. "While the industry is growing at a fast clip, the data suggests that complaints against the MF industry are low," the industry body noted. Of these 48