Auto Sector

The Mumbai-based firm announced in a statement that it has inked an agreement to purchase five legacy brands serving the gastrointestinal, urology, and anti-infective categories.

134 bids were submitted for the issue, demonstrating a more diverse level of interest. Investors included business entities, insurance firms, mutual funds, provident funds, pension funds, and more.

Investors have the opportunity to bid for a minimum of 50 shares in one lot and in multiples thereafter.

Price band set between Rs 113-119 per share. IPO raised Rs 1,260 crore from anchor investors.

Through a partnership agreement inked in August 2022, JSW Steel and New Zealand-based NSH established NSL Green Recycling together.

The business declared that, within the deadlines specified, it would appeal the stated ruling to the GST Appellate Tribunal.

Backed by strong order wins over the past six quarters, NCC has seen its order book (OB) expanding to ~Rs646bn as on date (4.5x on trailing 12m revenue).

Spot gold was largely constant at $1,924.54 per ounce, while U.S. gold futures were down 0.1% at $1,944.30.

U.S. West Texas Intermediate oil futures maintained their gains for a second straight session, rising 50 cents or 0.6% to trade at $90.53 per barrel.

f BAF were to raise Rs100bn, valuation at CMP would moderate by 10% to 5.0x (FY25) and leverage by 16% to 4.3x. BAF’s high profitability (~5% ROAs) will enable delivering sector-leading ROEs of ~23%, even at lower leverage.