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New Delhi: It continues to rain IPOs this monsoon season. Dalal Street is all set to see as many as four IPOs hitting the market this week. They include Krsnaa Diagnostics, Devyani International, Exxaro Tiles and Windlas Biotech, which are going to raise close to Rs 3,614 crore between August 4 and 6. Companies are rushing to the primary market to make best of the excessive liquidity and investor optimism. But with four issues opening on the same day, investors who have limited capital to deploy, are in a dilemma as to what to pick and what not. Arijit Malakar, Head of Research (Retail) at Ashika Stock Broking, said investors should ride the ongoing momentum in the primary market as the buoyancy is likely continue. ....
At the issue price, the Tatva Chintan commanded a PE of 41.62 times and a market-cap of Rs 2,400 crore compared with listed peers Aarti Industries 63 times and Navin Fluorine International at 61.4 times. Astha Jain of Hem Securities advised long-term investors to pare at least 50 per cent of their holdings. Investors, who were seeking listing gains only, should book 100 per cent profits on Day 1 itself, she said. The Rs 500 crore IPO, which was sold from July 16 to 20, saw strong demand. Overall, the issue was subscribed over 180 times, with the quota reserved for qualified institutional buyers (QIBs) 185.23 times while the one reserved for non-institutional investors (NIIs) 512.22 times. The retail quota was subscribed 35.35 times. ....
Anand Rathi said Glenmark Life has leadership in select high-value non-commercialized APIs in chronic therapeutic areas. It said the has cost leadership, a strong balance sheet, a growing business, and a high return on net worth (RoNW) of 46.71 per per cent. Add to that are reasonable valuations, which the brokerage said made it suggest a subscribe on the issue. Geojit Financial Services called the IPO fairly priced and suggested a Subscribe for a long-term basis, considering Glenmark s strong focus on research and development (R&D), its expansion plans, the growth opportunity ahead in CDMO (contract development and manufacturing operations) services and expanding of complex API portfolio. ....
Tatva Chintan set to become 2nd stock in July to double investor money on debut indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.