Author: Pranati Deva

Zomato IPO to list tomorrow: Here’s how you can check status

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Food delivery platform Zomato, which closed its IPO last week, will list on Friday, two working days ahead of its original listing date. Investors can check their status on the issue’s registrar Link Intime as well as BSE.

The IPO that ran between July 14-16 had fixed the price band at Rs 72-76 per share. The IPO size has been reduced to Rs 5,178.49 crore from Rs 9,375 crore earlier as Zomato already raised Rs 4,196.51 crore from 186 anchor investors on July 13, a day before the public opening of the issue.

Read here: Zomato IPO to open on July 14: Here’s all you need to know about the issue

The status will only appear if the details are entered correctly. In the case of non-allotment, the blocked amount will be refunded to your bank account.

Here’s how you can check the allotment status:

Through the website of registrar – Linkintime

1) Visit the website: https://www.linkintime.co.in/IPO/public-issues.html

2) Select IPO name from the dropdown

3) Enter Application Number or DP ID/Client ID or PAN

4) In the case of application number, select application type (ASBA or NON-ASBA) and ‘Enter Application Number’. In the case of DPID/Client ID, select Depository “NSDL or CDSL” and enter “DP ID/Client ID”.

5) Enter ‘Captcha’ and submit

On BSE:

1) Visit the website: https://www.bseindia.com/investors/appli_check.aspx.

2) Select ‘Equity’ and then from the dropdown, select issue name

3) Enter your Application Number and PAN Card number

4) Click on the “Search” button

The issue received a robust response from the investors and was oversubscribed 38.25 times. The offer has received bids for 2,751.27 equity shares against the IPO size of 71.92 crore equity shares.

The portion reserved for retail investors has been subscribed 7.45 times, while that of non-institutional investors’ 32.96 times, as per the subscription data available on the exchanges.

Read here: Zomato IPO: Investors with high-risk appetite should subscribe for listing gains

Brokerages have recommended investors with high-risk appetites subscribe to the issue only for listing gains.

However, given the strong network effects, increasing frequency of order, huge scope for growth in tier-II and tier-III cities, and large addressable market, the long-term outlook looks promising for Zomato, brokerages said.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Top stock tips by Sudarshan Sukhani, Mitessh Thakkar for today

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Indian indices are likely to open lower on Monday following losses in global peers as fears of rising inflation and a relentless surge in Delta variant of the coronavirus in Asian countries dampened investors’ risk appetite. CNBC-TV18’s in-house panel of experts have picked a list of stocks for the investors to buy/sell in trade today.

Here are the top buy-sell calls by market experts for Monday:

Sudarshan Sukhani – s2analytics.com

—Buy Dr Lal Pathlabs with a stop loss of Rs 3,385, target at Rs 3,455

—Buy UltraTech Cement with a stop loss of 7,230, target at Rs 7,450

—Sell Amara Raja Batteries with a stop loss of Rs 735, target at Rs 720

—Sell Adani Ports with a stop loss of Rs 695, target at Rs 680

Mitessh Thakkar – mitesshthakkar.com

—Sell Bandhan Bank with a stop loss of Rs 314.5, target at Rs 296

—Sell Eicher Motors with a stop loss of Rs 2,645, target at Rs 2,550

—Buy Havells with a stop loss of Rs 1,059, target at Rs 1,110

—Sell Tata Consumer with a stop loss of Rs 771, target at Rs 745

Catch all live market updates here

Disclaimer: CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Markets This Week: Sensex, Nifty end 1.5% higher after 2 weeks of losses; IT, banks gain

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian indices ended higher this week, snapping 2 weeks of losses with both Nifty and Sensex up around 1.5 percent each. Broad-based buying was seen across key sectors with banking, IT, and metal leading. Broader markets were also in line with benchmarks with the midcap index up 1.7 percent.

Indian markets were on an uptrend this week, bucking the global trend as better than expected results of major IT firms boosted the sentiment.

In Friday’s session, Indian indices pared gain after hitting a record high to end flat on Friday as gains in pharma, metal, and heavyweight RIL were offset by losses in IT stocks and banks. The Sensex ended 19 points lower at 53,140 while the Nifty was down 1 point at 15,923.

Among sectors, realty rallied over 8 percent, IT & Infra added over 2 percent each. Nifty Bank rose for the second straight week, up nearly 2 percent, led by ICICI Bank and Axis Bank. Nifty Auto and Nifty FMCG were flat for the day.

Meanwhile, Wipro, L&T, UltraTech cement, Tech Mahindra and Grasim Industries were the top gainers this week while Adani Ports, Eicher Motors, BPCL, Maruti Suzuki and Bajaj Auto led the losses.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Here are key stocks that moved the most on July 16

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian indices pared gain after hitting record high to end flat on Friday as gains in pharma, metal and heavyweight RIL were offset by losses in It stocks and banks.

The Sensex ended 19 points lower at 53,140 while the Nifty was down 1 point at 15,923. However, both benchmarks logged their first weekly gain in 3 week, rising 1.5 percent each.

Back home, Divi’s Labs, Bharti aIrtel, UltraTech Cement, Tata Steel and PowerGrid were the top gainers while HCL Tech, Eicher Motors, Infosys, Bajaj Finserv and Adani Ports led the losses.

Broader markets outperformed benchmarks with the midcap index up 0.4 percent and smallcap idnex up over a percent.

Here are the key stocks that moved today:

Angel Broking: Shares of Angel Broking hit 20 percent upper circuit of Rs 1,274.45 after the firm posted strong results with profit more than tripling in the June quarter. The net profit surged 210 percent to Rs 117.85 crore in Q1, as against a net profit of Rs 38.18 crore in the same quarter the previous year. Operational revenue also rose over 94 percent to Rs 458.72 crore during the quarter under review versus Rs 236.09 crore in the year-ago quarter, the company said in a regulatory filing.

L&T Infotech: Shares of L&T Infotech fell over 2.5 percent to Rs 4,299 on the BSE after the firm reported its June quarter results. The information technology solutions and services company reported a 19 percent jump in its net profit to Rs 496.8 crore in Q1 from Rs 416.60 crore in June 2020. Revenue for the three months rose 17.4 percent to Rs 3,462.5 crore from Rs 2,949.20 crore in the year-ago quarter.

Nitin Spinners: Shares of Nitin Spinners (NSL) rose 10.6 percent to Rs 181.80 after the CARE rating upgraded the long-term bank facilities of the company to stable from negative. While changing the rating, CARE Rating said: “The ratings assigned to the bank facilities of Nitin Spinners (NSL) take into account the significant experience of its promoters in the textile industry, NSL being a well-recognized entity with a long track record of operations in the industry and a diversified product profile.”

Bandhan Bank: Bandhan Bank share price fell 3 percent to Rs 310 after the private lender said its loan book and deposits declined in the June quarter. In a business update to the stock exchanges, the Kolkata-based bank on July 15 said its loans and advances shrunk by 8 percent in the June quarter to Rs 80,128 crore from Rs 87,043 crore in the March quarter. Total deposits contracted by a percent QoQ to Rs 77,336 crore from Rs 77,972 crore, the bank said.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: Sensex, Nifty end flat after hitting record highs; IT drags, pharma gains

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Indian indices pared gain after hitting record high to end flat on Friday as gains in pharma, metal and heavyweight RIL were offset by losses in It stocks and banks.

The Sensex ended 19 points lower at 53,140 while the Nifty was down 1 point at 15,923. However, both benchmarks logged their first weekly gain in 3 week, rising 1.5 percent each.

Meanwhile, Asian shares were lower as profit-taking in Taiwanese chip giant TSMC, despite record profits, weighed on other tech firms and broader risk sentiment, while a more dovish U.S. rates outlook kept bond yields near multi-month lows.

Back home, Divi’s Labs, Bharti aIrtel, UltraTech Cement, Tata Steel and PowerGrid were the top gainers while HCL Tech, Eicher Motors, Infosys, Bajaj Finserv and Adani Ports led the losses.

Broader markets outperformed benchmarks with the midcap index up 0.4 percent and smallcap idnex up over a percent.

Among sectors, Nifty IT lost the most, over a percent while Nifty Bank and Nifty Fin Services were down 0.4 percent and 0.2 percent, respectively. Meanwhile, Nifty Pharma and Nifty Metal rose around a percent and Nifty FMCG was up 0.2 percent.

Angel Broking hit 20 percent upper circuit of Rs 1,274 after the firm posted strong results with profit more than tripling in the June quarter.

Bandhan Bank share price fell 3 percent to Rs 310 after the private lender said its loan book and deposits declined in the June quarter.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

L&T Infotech shares fall 4%; Q1 net profit up 19.3%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Shares of L&T Infotech fell as much as 3.7 percent to its day’s low of Rs 4,253.35 on the BSE on Friday after the firm reported its June quarter results.

The information technology solutions and services company reported a 19 percent jump in its net profit to Rs 496.8 crore in Q1 from Rs 416.60 crore in June 2020.

Revenue for the three months rose 17.4 percent to Rs 3,462.5 crore from Rs 2,949.20 crore in the year-ago quarter. In dollar terms, revenue was 20.4 percent higher year on year, and up 5.1 percent sequentially to $470.2 million. In constant currency terms, revenues were up 17.8 percent.

EBITDA came in at Rs 769.30 crore in June 2021 quarter, up 16.95 percent from Rs 657.80 crore in June 2020 quarter.

“We are pleased to report our best-ever Q1 sequential growth of 5.1% driven by holistic growth across our verticals, service lines, client pyramid, and geographies. Our healthy pipeline and continued strong demand make us confident of future growth,” said Sanjay Jalona, CEO and managing director, LTI.

The company added a net 2,300 employees during the quarter, taking the total headcount to 38,298.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Angel Broking shares surge 12%; net profit triples in June quarter

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Shares of Angel Broking rose over 12 percent to hit a 52-week high on Friday after the firm posted strong results with profit more than tripling in the June quarter. The net profit surged 210 percent to Rs 117.85 crore in Q1, as against a net profit of Rs 38.18 crore in the same quarter the previous year.

The stock rose as much as 12.2 percent to its 52-week high of Rs 1,192.35 on the BSE. It has risen over 240 percent in 2021 so far and jumped 40 percent in the last month.

Operational revenue also rose over 94 percent to Rs 458.72 crore during the quarter under review versus Rs 236.09 crore in the year-ago quarter, the company said in a regulatory filing.

The company witnessed strong gross client addition of 12 lakh in Q1 FY22 as compared to 9.6 lakh clients in Q4 FY21.

Commenting on the performance, Dinesh Thakkar, chairman & MD said, “Q1 FY22 has been a very strong quarter for the industry and Angel Broking, across numerous parameters. We are witnessing a greater acceptance of equities, as a vehicle of wealth creation, by more people from Tier 2, 3, and beyond cities. This gives me confidence that we are at an inflection point and the journey of high growth will sustain us over the medium and long term.”

Meanwhile, the board of directors has approved the first interim dividend of Rs 5.15 per equity share.

The board, in its meeting held on July 15, also approved the change of name of the company from ‘Angel Broking Limited’ to ‘Angel One Limited’ or ‘Angel One Fintech Limited’ or any other name as may be approved by the Central Registration Center (“CRC’) of Ministry of Corporate Affairs.

Angel Broking is one of the largest retail broking houses in India in terms of active clients on NSE. It’s a technology-led financial services company providing broking and advisory services, margin funding, loans against shares, and financial products distribution to clients.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Tatva Chintan Pharma IPO opens today: Should you subscribe?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Rs 500-crore initial public offering (IPO) of specialty chemical company Tatva Chintan Pharma opens today with a price band of Rs 1,073 – Rs 1,083 per equity share.

The issue, which will close on July 20, consists of a fresh issue of shares worth Rs 225 crore and an offer for sale of shares worth Rs 275 crore by the promoter and promoter group. The fresh issue proceeds will be utilised for expansion of the Dahej manufacturing facility, and upgradation of the R&D facility in Vadodara.

READ MORE: Tatva Chintan Pharma Chem IPO opens today; Here are key things to know

Most brokerages recommend ‘subscribe’ on the back of robust financials, strong growth potential, diversification, potential play on green chemistry, discounted valuation compared to its peers and niche global placement.

Here’s a look at what they say:

Motilal Oswal

The brokerage likes the firm due to its leadership position, wide product portfolio, strong client relationship, and high entry barriers. The company is expected to witness strong growth for the next 2-3 years given its expansion plans. It is well placed to tap the opportunity in the fast-growing specialty chemical space with an increasing focus on green chemistry by leveraging its strong R&D capabilities, as per the brokerage.

“The issue is valued at 45.9x FY21 P/E on post-issue basis, which appears reasonable compared to peers (avg. P/E of 59x), as it enjoys higher earnings growth. Hence, we recommend ‘Subscribe’,” it said.

Choice Broking

Considering its niche product profile with diversified applications and dominant domestic production share, the brokerage believes the company would continue to post robust operating and financial performance in the future. Also with the proposed expansion of its capacity, Tatva Chintan will be well-positioned to capitalise on the growth opportunities in the specialty chemicals space, said the brokerage. It assigns a ‘subscribe’ rating for the issue.

BP Wealth

Considering the wide application of its products, the company serves customers across various industries and geographies providing diversification benefits. Moreover, its high-quality product portfolio, strong R&D capabilities, strategically located manufacturing facilities and a focus on ‘green’ chemistry processes bode well for the company, said BP Wealth.

“On the valuation front, considering the upper price band, diluted EPS and FY 21 earnings, the company is valued at 45.9x P/E which is at a discount when compared to its listed industry peers. Its stable financial performance and growth opportunities provide visibility for the long term. Considering all such factors, we give a ‘subscribe’ rating on this IPO issue for the long term,” it said.

Ventura Securities

“At the offer for sale price of INR 1,083, the stock is valued at 31.3X FY24 earnings. The high valuations are justified given the high growth potential, dominant producer status, exposure to green energy, and strong balance sheet,” said the brokerage. It recommends a ‘Subscribe’ rating for listing gains.

KR Choksey

Tatva Chintan’s growth prospects are bright owing to its leadership status in the various product categories of specialty chemicals and significant presence in export markets, according to KR Choksey.

“Given that it operates in segments which could see a rise in environmentally sustainable products, the growth potential is further higher. The balance sheet is strong and well capitalised, with low external debt. On account of strong growth potential, dominant manufacturer status, potential play on ‘green chemistry’ and discounted valuation compared to its peers, we recommended a ‘subscribe’ rating for long-term gains.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow