Auto Sector

Non-convertible debentures (NCDs) are fixed income securities that is listed with stock exchanges, like BSE and NSE in India.

Selling pressure was seen in the last one hour.

The valuation of the company was estimated to be up to $3 billion.

Banking stocks may remain under selling pressure this week.

Capex cycle recovery in India could be delayed, considering its linkage to global capex cycle and the subdued near-term global growth outlook. Hence, analysts at IIFL Capital Services assume a moderation in rating revenue growth in FY24 versus FY23, with ICRA and CARE reversing some of their under-performance versus CRISIL, between FY19-22.

Analysts at IIFL Capital Services visited HG Infra’s Ganga Expressway project site, where execution has been strong and payments from UEPIDA and Adani on track. The company has seen order wins of ~Rs37 billion in Q4 from Highways, Railways and Metros with disciplined bidding.

The IPO comprises fresh issue of equity shares worth Rs 320 crore and an offer for sale of Rs 545 crore of promoters and existing shareholders.

Analysts at IIFL Capital Services have upgraded Biocon from Reduce to Add, following the stock’s 40% correction over past 12 months on concerns regarding significant financial leverage (ND/EBITDA of ~5x) post the Viatris deal and weak execution in existing biosimilars.

SRF is progressing well with its large capex projects in the coming years, as also the long-term plans unveiled by MD Ashish Bharat Ram in September 2022 remaining intact amid challenges. Flows for new enquiries within Fluorospecialties are strong and continue to provide enough growth visibility.

The corridors have one EV charging station every 100 kilometer.