Hyundai India IPO could trigger a sector-wide positive re-rating for auto stocks
Hyundai Motor India’s upcoming IPO, valued at ₹27,870 crore, is set to be the largest public offering in the sector and is expected to attract substantial global interest and foreign capital. Analysts believe this could lead to a sector-wide re-rating for the auto industry.
Tech View: Nifty forms high wave type candle on weekly chart. Here’s how to trade next week
Nifty formed a small negative candle, indicating continued narrow range movement. The underlying trend remains choppy. Support at 24,920 and 24,750. Resistance at 25,000-050 and 25,250-275. Bears are in control, using pullback rallies to create short positions.
Sudarshan Chemical Industries acquires Germany-based world’s second biggest pigment company Heubach Group
Sudarshan Chemical Industries announced the acquisition of Heubach Group for Rs 1,180 crore. Shares surged 20% on the news. Heubach Group is the world’s second-biggest pigment company.
Sebi orders BSE to not proceed with Trafiksol listing amid concerns over misuse of IPO proceeds
Capital markets regulator Sebi has asked the exchange BSE to not proceed with Trafiksol ITS Technologies listing amid serious concerns over misuse of the net proceeds received from the IPO.
Rajiv Jain’s GQG raises stake in Ambuja Cements by 70 bps to 2.05% in September quarter
Rajiv Jain’s GQG Partners has significantly increased its stake in Ambuja Cements to 2.05% in Q3 2024. Despite the stock’s 31% annual return outperforming the Nifty index, Ambuja is expected to see a decline in revenue and profit in the latest quarter reported.
Why Hyundai India’s GMP crashed 76% even as market awaits India’s biggest IPO
The GMP for Hyundai India is declining ahead of the IPO opening next week, with shares currently commanding a GMP of approximately Rs 139, reflecting a marginal premium of 7% over the issue price. The IPO consists of a complete OFS of 14.2 crore shares by the Korean parent company, priced between Rs 1,865 and […]
Saurabh Mukherjea exits 5 mid and smallcap stocks, picks 2 new ideas
Star fund manager Saurabh Mukherjea, who runs Marcellus PMS, has exited five mid and small-cap stocks while introducing two new investments: Go Digit General Insurance and Jash Engineering. In its mid-cap-focused Rising Giants and small-cap-heavy Little Champs funds, Marcellus has made these strategic additions to enhance its portfolio.
Rupee drops past 84/USD on equity outflows, oil prices
The Indian rupee fell below 84 per U.S. dollar for the first time due to rising oil prices, foreign equity outflows, and reduced hopes of a major U.S. rate cut. Despite RBI interventions, the rupee’s near-term outlook worsened, with Brent crude prices up over 10% in October.
How Hyundai India IPO could keep listed rivals like Maruti on edge
Hyundai Motor India’s upcoming IPO is set to intensify competition in the Indian auto industry, particularly impacting Maruti Suzuki. With a strong product lineup and premium positioning, Hyundai’s offering is expected to pressure rivals to innovate, potentially driving a sector-wide re-rating and attracting significant global investor interest.
TCS shares fall as Q2 profit misses estimates. Should you buy, sell or hold?
TCS reported a 5% growth in Q2 net profit to Rs 11,909 crore, falling short of expectations. Revenue increased 8% YoY. Analysts hold mixed views; JPMorgan and Nuvama maintain ‘Buy’ ratings, while Citi and Investec advise ‘Sell’ due to ongoing client-specific issues.