In the last 10 years, Indias key equity indices have mostly been range-bound during pre-Budget days, only to bloom after the tabling of the Bill in the Parliament.In fact, the Union Budget remains the most important trigger for market movement. .
Shares of Data Patterns (India) saw a strong debut on Friday, the listing day, rallying with a premium of 46 per cent over its issue price.The company is a defence and aerospace electronics solutions provider catering to the indigenously .
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NEW DELHI: Analysts tracking primary issues believe one can subscribe to the initial public offering of Windlas Biotech, a Contract Development Manufacturing Organisation (CDMO), for the long term. The issue opens for subscription today.
The Dehradun-based firm will raise Rs 165 crore through issuance of fresh equity shares, while the promoters and existing shareholders will offload 51,42,067 equity shares worth Rs 236 crore via an offer-for-sale (OFS). The price band for the issue is fixed at Rs 448-460 per share.
“Windlas is focusing on formulation CDMO, and there is no peer company focusing solely on the CDMO model. Considering its return ratios and profitability, the issue seems to be fully priced. But factoring the growth drivers of the CDMO sector and opportunities available for the company, we assign a ‘subscribe for long term’ rating on the issue,” said Rajnath Yadav of Choice Broking.