News Overview

IPO proceeds aim to raise ₹130.2 Crore solely through fresh issue of 62 lakh shares, allocated with 50% for QIBs, 15% for NIIs, and 35% for retail investors.

Revenue from operations also saw a substantial rise, climbing by 16.2% to ₹3,710.6 Crore from ₹3,192.1 Crore in the same period of the preceding fiscal year.

Shyam Metalics & Energy recently announced its expansion into a greenfield project focused on aluminum flat-rolled products, with plans to invest ₹450 Crore, facilitating group capacity expansion.

Brent crude futures for May drop by 0.8% to $85.56 a barrel, with the June contract declining by 0.7% to $85.03.

Demand continues to be muted despite the early onset of summers in 2024; additionally, weak consumer sentiments inhibited full price pass-through, with a recovery anticipated only post-elections. Wide presence across price points, focus on premiumisation and launch of new products with robust distribution network aided share gains in fans, geysers, pumps etc.

According to certain reports, bank management reportedly encouraged ICICI Securities shareholders to provide screenshots of their vote results.

BIRET’s net debt to GAV at 36% is the highest among the REITs; however, its debt maturities are staggered with a 9-yr average maturity. The sponsor pipeline of ~19.1msf (vs 20.7msf of BIRET operating area) offers high visibility on inorganic growth opportunities.

The pharmaceutical stock was offered on public markets in May of last year, at a 20% premium to its issue price of ₹1,080.

Rodolfo Hrosz, Managing Director of Sanofi India Limited, emphasized that their CNS products hold leading positions within their respective categories.

Rahul believes that the welfare state pool in India may remain large. Governments have realised that the state has to be a regulator of capital and find a way to reach the poor; otherwise there could be social unrest. There is now also a global consensus on this, especially post the global financial crisis. However, PM Modi will also don the reformist hat as he realises that only economic prosperity can lead to India becoming a global player.