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New Delhi, Feb 3 () Diagnostic services provider Dr Lal PathLabs on Monday reported a 19.08 per cent increase in consolidated net profit at Rs 54.9 crore for the quarter ended December 31. 
 The company had posted a net profit of Rs 46.1 crore in the corresponding period of the previous fiscal, Dr Lal PathLabs said in a filing to the BSE.
 Its revenue from operations rose to Rs 327.9 crore during the quarter under review as against Rs 292.5 crore in the year-ago period.
 Shares of Dr Lal PathLabs on Monday closed 2.78 per cent lower at Rs 1,720.20 per scrip on the BSE. AKT RVK

Dr Lal PathLabs Q3 net profit up 19 pc to Rs 54.9 cr

<ul><li>Lal and Ram are among the few businessmen in India whose wealth rose in the middle of the coronavirus crisis to $1 billion — adding them to the list of 102 <keyword id="6393637" type="UNKNOWN" weightage="20" keywordseo="Billionaires">billionaires</keyword> in India. </li><li>79-year old <keyword id="300021" type="COMPANY" weightage="20" keywordseo="Arun-Bharat-Ram">Arun Bharat Ram</keyword> joined the billionaire club in India after his company Shri Ram Group of Companies witnessed a 63% increase in share price since March 25. According to Forbes, Ram’s net worth clocked $1.1 billion. </li><li><keyword id="248093" type="PERSON" weightage="20" keywordseo="Arvind-Lal">Arvind Lal</keyword>, who heads Dr Lal Path Labs witnessed an 8% boost in share price after it got regulatory approval to conduct the coronavirus test in the last week of March — making him a billionaire. </li></ul>Coronavirus pandemic has led to a lot of bloodbath in the stock markets around the world. Thousands of companies have reported losses while some others are struggling to just survive. However, there are some rare exceptions like Arvind Lal who heads Dr. Lal Path Labs and chemical magnate Arun Bharat Ram, who owns Shri Ram Group of Companies (SRF). ALSO READ: <div type="Article" hostid="261" msid="76284421" title="Watch an emotional Darren Sammy call out the casual racism of his IPL teammates — ‘I saw you as brothers,’ says the former West Indies captain" mstype="2" mssubtype="0"></div> Lal and Ram are among the few businessmen in India whose wealth rose in the middle of the coronavirus crisis to $1 billion. From chemicals to colleges 79-year old Arun Bharat Ram joined the billionaire club in India after his company Shri Ram Group of Companies witnessed a 63% increase in share price since March 25. According to Forbes, Ram’s net worth clocked $1.1 billion. <div type="image" title="snapshot-1591771327997" msid="76297267" hostid="261"></div> Ram is on board of more than 14 companies and heads 6 different companies worldwide including JK Paper Limited. SRF is a $1.1 billion company which was founded in 1970 and promotes chemical raw materials used in pharmaceuticals and pesticides. SRF group is into a range of other products including fabric, real estate among others. It also promotes Delhi’s Lady Shri Ram College and the Shri Ram Schools in India. One of the primary reasons for the increase in Ram’s wealth was a sudden spike in all Indian chemical stocks. A whole lot of businessmen are ditching chinese supply chain and looking for cheaper alternative options in India — leading to a sudden spike in share price. The Indian doctor who became a billionaire Arvind Lal is a doctor who heads the $174 million Dr Lal Path Labs. The share price of Dr. Lal Path Labs jumped by 14% between March 30 and June 10 after the Indian government allowed <keyword id="1349548" type="PERSON" weightage="20" keywordseo="private-labs">private labs</keyword> to conduct coronavirus tests in March. According to Forbes, Arvind Lal is now worth a billion dollars. <div type="image" title="snapshot-1591770378251" msid="76297140" hostid="261"></div> 70-year-old Lal owns a 57% stake in his publicly listed company which has a market capitalization of ₹131.98 billion. However, despite offering the coronavirus test at large, Lal’s company could end up making only small gains from it. According to Forbes, these COVID-19 tests will not “contribute in a big way” to the revenues of the company as the government has fixed the price of a test at ₹4,500. Dr. Lal Path Labs was founded in 1949 by S.K Lal, Arvind Lal’s father. Lal inherited the diagnostics lab from his family when he was 28 years old. The chain of diagnostics lab made its Initial Public Offering in 2015 and has witnessed a 79% increase in its share price since then. SEE ALSO: <a href="https://www.businessinsider.in/india/news/liquor-to-become-cheaper-in-delhi-as-the-state-withdraws-coronavirus-cess/articleshow/76294483.cms">Liquor to become cheaper in Delhi, as government withdraws coronavirus cess</a> <a href="https://www.businessinsider.in/business/news/shopping-malls-are-open-but-retailers-face-the-next-big-challenge-getting-people-to-the-stores/articleshow/76294870.cms">Shopping malls are open but retailers face the next big challenge – getting people to the stores</a>

Arun Bharat Ram and Arvind Lal — the two businessmen who became billionaires during the lockdown

The pharmaceuticals industry has largely been known to be set in its ways, with processes remaining the same longer and skills required being tough to replicate easily. However, the pandemic did a number on the pharma sector, just as it did for others. When pharma firms were gunning to find the antidote to the virus, they, like all others, had to do it from home. Which in turn led to the entry of more <keyword id="50691" type="General" weightage="100" keywordseo="digital" source="Orion">digital</keyword> processes and skills. “Necessity is the mother of invention, and that has forced us to adapt and adopt technology,” said Dr. <keyword id="6471231" type="General" weightage="80" keywordseo="sanjay-arora" source="Orion">Sanjay Arora</keyword>, Global Medical Director, Dr. <keyword id="1854199" type="General" weightage="80" keywordseo="lal-path-labs" source="Orion">Lal Path Labs</keyword> and Founder of Suburban Diagnostics, speaking at the Transforming Pharma: Formulating effective upskilling strategies webinar by Business Insider. While <keyword id="176" type="General" weightage="80" keywordseo="arora" source="Orion">Arora</keyword> argued that the pharma sector has always needed employees to upskill themselves and keep up with the newest scientific discoveries and diseases, he identified automation and the effective use of data analytics as two big changes in the industry. “The talent has been quite fungible over the last one or one and a half years. It is not just for pharma, it is across industries and the globe. But pharma got more impacted because it’s a knowledge industry, and a lot of people who carry that knowledge can’t be substituted by somebody who just comes in with the same number of years or background of education. Hence the need to quickly train the new people coming in and make sure that the delivery was not impacted.” said Amitava Saha, President and CHRO, Biocon Group. Saha noted that things are changing rapidly in the industry, not just in laboratories but also in manufacturing units. “The rules are changing, as are the efficiency indexes,” he said, adding that the use of technology is inevitable in such a situation. “Imagine the pace at which the (Covid-19) vaccine was developed without compromising on any regulatory process. Digital transformation was the backbone,” noted Dr. Anil Kukreja, Vice President, Medical Affairs and Regulatory, Astrazeneca India. He added that real-time data analytics were instrumental in bringing insights into research, and sharing those insights with regulators across the world. Further, <keyword id="275963" type="General" weightage="80" keywordseo="yugal-sikri" source="Orion">Yugal Sikri</keyword>, Managing Director, RPG Life Sciences, pointed out that the pharma industry is unique because “your product is a technical product”. “You have to have techno and commercial, both dimensions clear, because the industry is extremely competitive. Particularly the generic (drug) industry is extremely competitive, we have 10,000 odd companies in India (alone). So you need to have both the techno and commercial skills,” he said. The need for upskilling though is not the responsibility of employees alone. “One of the things that we hear during this Great Resignation is that people are moving jobs, and one of the reasons they cite is that they’re not learning enough. So they’re trying to learn somewhere else,” said <keyword id="13003481" type="General" weightage="80" keywordseo="dulles-krishnan" source="Orion">Dulles Krishnan</keyword>, Managing Director, Coursera Enterprise, India and ANZ. He admitted, however, that many are also not spending as much time learning, and companies and platforms need to solve that, to motivate people to learn. “When the human is challenged, he learns really fast,” added Dr. A Vehlumani, PhD, Creator, Thyrocare. “Whenever we are challenged more, we will learn more and we get more skills. The more problems you solve, the more skilled you become. The bigger the problems you solve, you become more powerful,” he said. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

Digital upskilling has become the need of the hour for the pharma sector

<ul><li>The SGX Nifty was trading 0.48% higher at 7:55 am, indicating a higher start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the Asian markets, the Indian stock market is likely to open in green. The SGX Nifty was trading 0.48% higher at 7:55 am, indicating a positive start for Nifty50. Other Asian markets were also trading in green— Hang Seng Index was up 1.34%, Australian Securities Exchange, ASX 200 was also up 0.17%. These are the stocks to watch out for during the trading session on October 12: Vedanta Vedanta on Sunday informed stock-exchanges that its buyback offer is deemed to have failed as per the terms of the delisting regulations after promoter Vedanta Resources did not receive the required number of shares to delist the firm. The shares of Vedanta closed 2% higher on Friday. Glenmark Pharmaceuticals Glenmark Pharmaceuticals on Friday said that its Umifenovir did not show superior clinical outcomes when added to Favipiravir treatment for moderate coronavirus. The shares of Glenmark Pharmaceuticals closed 2% lower on Friday. Indiabulls Housing Finance The Gurugram-headquartered mortgage lender, Indiabulls Housing Finance has raised about ₹441 crore by further selling a portion of its stake in OakNorth Holding to a US-based Riva Capital Partners V LP. The shares of Indiabulls Housing Finance closed 5% higher on Friday. Dr Lal PathLabs Dr Lal PathLabs clarified that the data breach of its patients occurred after a misconfiguration in one of its minor web applications where temporary records were stored for operational purposes, and took place at a facility managed by a third party. “It involved less than 0.5% of our records and has been successfully resolved since,” the company said. The shares of Dr Lal PathLabs closed 5% lower on Friday. RITES The engineering consultancy company, RITES has secured ₹103 crore order from project management consultancies for the construction of various buildings at IIT Delhi and for study of Multi Modal Integration Planning for Surat Metro, among others. The shares of RITES closed 0.22% higher on Friday. Premier Explosives The explosives manufacturing company, Premier Explosives said it has bagged ₹82.83 crore order from a state-run Singareni Collieries Company in Telangana for the supply of SMS/SME explosives and accessories. The shares of Premier Explosives closed 5% higher on Friday. Karnataka Bank The state-owned Karnataka Bank on Friday declared its exposure of ₹107.99 crore to Sintex Industries (SIL) as fraud. The shares of Karnataka Bank closed 2.4% higher on Friday. Mazagon Dock Shipbuilders and UTI AMC The shares of Mazagon Dock Shipbuilders and UTI AMC will list on the bourses today at 10:00 am. Mazagon Dock Shipbuilders is expected to witness a bumper listing, with grey market premium floating around ₹95-₹100. Meanwhile, UTI AMC may not see much excitement from investors, as per the current grey market premium. UTI AMC is likely to list at a <a href="https://www.ipowatch.in/2019/12/uti-amc-ipo-gmp-grey-market-premium-kostak-rates-subject-to-sauda-today.html">‘discounted’ </a>price. Wipro Watch out for Wipro ahead of its earnings and buyback announcement due tomorrow. Shalby and GNA Axles Shalby and GNA Axles are slated to report their second quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/india/news/gst-council-to-discuss-compensation-issue-for-third-time-in-a-row-on-monday/articleshow/78605574.cms" data-type="tilCustomLink">GST Council meet yet again — to discuss compensation issue for the third time today</a> <a href="https://www.businessinsider.in/business/auto/news/delhi-government-exempts-road-tax-on-battery-operated-vehicles-under-its-ev-policy/articleshow/78605311.cms" data-type="tilCustomLink">Delhi government exempts road tax on battery-operated vehicles under its EV policy</a>

Top stocks to watch — Vedanta, Wipro, RITES, Mazagon Dock, UTI AMC, Glenmark Pharma, and others

Telecom major Bharti <keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword> on Monday launched a new platform called Airtel IQ, marking the company's entry into an estimated $1 billion Indian cloud communications market. Airtel IQ, a cloud-based omni-channel communications platform, is designed to enable brands to deepen engagement with customers through timely and secure communication. Many of India's biggest companies such as Swiggy, Justdial, Urban Company, Havells, Dr. Lal Path Labs and Rapido have signed up as customers for Airtel IQ during the beta phase itself, the company said. "Businesses are increasingly looking to cloud-based digital platforms to engage with consumers and Airtel IQ is built to raise the bar when it comes to brands delighting consumers," Adarsh Nair, Chief Product Officer, Bharti Airtel, meanwhile, had this to say "So, the next time you enjoy shopping online, ordering food from your favourite restaurant or hailing a ride, remember there's a bit of Airtel IQ in there making it happen seamlessly and safely." Airtel IQ eliminates the need for multiple communication platforms for different channels. With just a slice of code, businesses can embed communication services such as voice, SMS, interactive voice response (IVR) in their applications and digital properties across desktop and mobile, all through a unified platform. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/airtel-partners-with-aakash-institute-to-bring-medical-and-engineering-education-content-to-its-dth-platform/articleshow/78640408.cms">Airtel partners with Aakash Institute to bring medical and engineering education content to its DTH platform</a>

Airtel forays into cloud communications market in India

<ul><li>Tarsons Products’ ₹1,000 crore IPO had opened on November 15 and will close on November 17.</li><li>Nearly one in every ten lab equipment sold in India is from Tarsons.</li><li>The <keyword id="938640" type="General" weightage="20" keywordseo="grey-market-premium" source="Orion">grey market premium</keyword> of the Indian labware company surged to ₹230 from ₹200.</li><li>Check out the latest news and updates on Business Insider.</li></ul>Today is the second day to subscribe to the Indian labware company Tarsons Products initial public offering (IPO), which will close on November 17. Some of the company’s clients include Dr Reddy's Laboratories, Metropolis Healthcare, Dr. Lal Path Labs. Tarsons sells nearly one in every ten labware products sold in India. The ₹1,024 crore IPO consists of a fresh issue of equity shares worth ₹150 crore and an offer for sale (OFS) of 1.32 crore equity shares that will be sold by promoters and an investor. The company said it will repay debt with the money from the IPO and build its sixth manufacturing facility at Panchla in West Bengal . Tarsons Products is engaged in designing, developing, manufacturing and supplying a diverse range of quality labware products used in laboratories across research organisations, academic institutes, pharmaceutical firms, diagnostics companies and hospitals. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Broking firms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ventura Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel One </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investmentz </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Swastika </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ashika Research </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe with caution </td></tr></tbody></table> Analysts are betting big on the healthcare sector even post covid and expect the labware products company to continue growing. The grey market premium of the Indian labware company surged to ₹230 from ₹200 earlier. “Covid has turned out to be a boon for the companies in the healthcare space as worldwide governments have started allocating more funds and people in general have become more conscious towards the healthcare benefits. We expect the firm to grow faster than current CAGR given the laboratory instrument industry is growing at 20%,” said analysts at Nirmal Bang. <div type="image" title="tarsons product" height="900" width="1200" msid="87730870" hostid="261"></div> Besides, the fact that the company cut down its debt by half in two years has impressed analysts. The company total borrowings came down to ₹33 crore in FY21 from ₹64 crore in FY19. Further, the company said it will utilise ₹78 crore from the IPO proceeds to repay/prepayment debt. “The margins of the company have grown significantly on the back of declining debt. The company aims to be debt free post the IPO and is planning for CAPEX (capital expenditure) which will further increase the revenues,” said analysts at Swastika. However, analysts at Choice Broking believe that the sharp spike in growth last year may be a one-off event triggered by the pandemic and the company may find it difficult to maintain the same pace in the future. “There is a respectable import market for the company to capture and also a huge export opportunity arising from the “China plus one” strategy, in case the globe adopts this strategy in the post-Covid period. Thus considering the future growth outlook and the demanded premium valuation, we assign a “Subscribe with Caution” rating for the issue,” the report said. Simply put, the threat of international competition and rising imports is just as valid as the hope of a boom in business for Tarsons. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/policybazzar-and-sigachi-share-price-jump-in-early-trading/articleshow/87730171.cms">Policybazaar gets a boost after an American fund laps up 3.4 million shares and Sigachi hits upper circuit on the morning after listing</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/now-you-can-invest-in-global-blockchain-companies-through-this-mutual-fund-heres-how-to-do-it/articleshow/87724967.cms">Now you can invest in global blockchain companies through this mutual fund ⁠— here's how to do it</a>

The IPO from Tarsons, a Bengal-based supplier for Dr Lal Path Labs and Dr Reddy’s, gets a unanimous ‘subscribe’ call from the street

(Eds: Updates with order withdrawn) New Delhi, Mar 26 () Hours after allowing several online retail firms to re-start their delivery services, the Delhi police on Thursday withdrew its previous order with "immediate effect", officials said.The police had issued a statement directing its personnel to allow persons and vehicles engaged in essential services to operate in Delhi and listed names of retailers and online delivery services that should be allowed to function.However, the order was withdrawn with immediate effect hours after it was issued, stating that the revised guidelines will be released and all traffic, picket and beat staff would be briefed accordingly.The police did not cite any reason for withdrawing its previous order, but a senior police official said essential supplies would continue and a uniform order across states would be issued soon.This comes a day after the Delhi police held a meeting with representatives of e-commerce platforms to ensure uninterrupted supply of essential goods and services during the 21-day lockdown enforced to contain the spread of the novel coronavirus.Zomato, Flipkart, Amazon, 24Seven, Blue Dart, DTDC, Wow Express, Swiggy, Grofers, BigBasket, MilkBaasket, Dunzo, Big Bazaar, Snapdeal, Licious, Medlife, Pharmeasy, UrbanClap, Ninjacart, Honsa Conumer Pvt. Limited, Healthians Diagnostics, Delhivery Pvt Limited, Nutrimoo Milk Dairy, More Retail Limited, Easyday, Jabong, Myntra, Spencer's, Reliance Fresh, Jubilant Food Works, Foodpanda, Faaso's, Pizza Hut, Uber Eats, Needs Supermart Pvt Limited, 1MG, Dr. Lal Path Labs, Max-Path, Satvacart, Iifco and other e-commerce retailers and operators were allowed to function in the national capital, according the now-withdrawn order.Police have set up a platform on WhatsApp for e-commerce websites to solve their issues and delivery agents were being issued passes for hassle-free movement.The government announced a 21-day nationwide lockdown since Wednesday, saying social distancing is the only way out for the country in its decisive battle against the coronavirus pandemic.The novel coronavirus cases in the country climbed to 649 on Wednesday. The death toll has reached 13, according to the Union Health Ministry. Delhi has reported 36 cases, with one death. AMP ABHABH

Delhi police withdraws order allowing online retail firms to re-start services

<ul><li>Shares of <keyword id="11949918" type="General" weightage="20" keywordseo="vijaya-diagnostic" source="Orion">Vijaya Diagnostic</keyword> listed on the stock exchanges at ₹540 per share, which is less than 2% higher than the issue price.</li><li>However, the stock jumped over 16% compared to the price at which shares were allotted during the IPO. </li><li>The company’s initial public offer (IPO) was oversubscribed by over 4 times.</li><li>It intends to use the proceeds of the IPO towards deepening its presence in Andhra Pradesh and Telangana, apart from expanding into East India.</li></ul>Shares of Vijaya Diagnostic, one of the two new companies to get listed on the Indian stock exchanges, debuted at ₹540 per share, which is less than 2% above its issue price of ₹531. The Hyderabad-based diagnostics company has a strong presence in southern India in the states of Andhra Pradesh and Telangana. It intends to expand in some eastern states primarily through acquisition, thanks to the IPO proceeds. <a href="https://www.businessinsider.in/stock-market/news/ipo-bound-vijaya-diagnostics-is-planning-more-acquisitions-in-east-india/articleshow/85755911.cms">Vijaya Diagnostic says</a> it has a market share of 7% in its home market – Andhra Pradesh and Telangana. Going forward, it looks to capture close to 20% of it. The market size of the business in both states is worth ₹5,100 crore, Kondapally said in the interview. Over 96% of the Vijaya Diagnostic’s revenue comes from Hyderabad, the rest of Telangana, and the Andhra Pradesh region. As of 2:10 p.m., Vijaya Diagnostic’s shares were trading at ₹619 per share, which is up by nearly 16.6%. The grey market premium for Vijaya Diagnostic’s shares was hovering around ₹5, which translates to approximately 1% of the issue price of ₹531. It is worth noting that grey market premium is not an official measure of market premium. The diagnostics company’s business model is different from that of similar listed diagnostics companies -- Metropolis Lab, Dr Lal PathLabs. “Right from inception our focus has been to offer both radiology, pathology and imaging all under one roof so that the patient does not have to visit any other place. In that sense we are quite different as all our centres offer these services. 93% of our revenue comes from business-to-consumer (B2C) business whereas other players have more of [a] business-to-business (B2B) model,” said Sunil Chandra Kondapally, executive director at Vijaya Diagnostics in an interview with Business Insider. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/ami-organics-ipo-lists-50-higher-than-the-issue-price-at-910-per-share/articleshow/86189649.cms">Ami Organics dazzles on its stock market debut, lists at a premium of 50%</a> <a href="https://www.businessinsider.in/stock-market/news/sansera-engineering-ipo-is-opening-from-today-and-closes-on-september-16/articleshow/86189006.cms">INTERVIEW: An auto parts maker for Maruti, Bajaj and Honda is betting that Indian car makers will take a leaf out of Tesla’s playbook</a> <a href="https://www.businessinsider.in/tech/gadgets/news/xiaomis-first-smart-glasses-can-take-calls-capture-photos-translate-text-and-more/articleshow/86189049.cms">Xiaomi’s first smart glasses can take calls, capture photos, translate text and more</a>

Vijaya Diagnostic sees a tepid listing, increases by over 16%

<ul><li>Shares of Tarsons Products listed at ₹700 while the price band was fixed at ₹635-662 per share.</li><li>The IPO was a hit among investors as it has been subscribed just 77.49 times on the last day of the bidding.</li><li>The market capitalisation of the company stood at ₹3,724 crore.</li></ul>Shares of Indian labware company Tarsons Products made a decent listing on the National Stock Exchange (NSE) and BSE despite weak market trends. The stock listed at ₹700, higher 5.74% on the issue price band of ₹635-662 apiece. Investors were expecting a positive listing despite weak market trends as the fundamentals of the company like becoming debt-free, having strong cash flow looked attractive. “The company has a strong cash flow and it is likely to become debt-free post-IPO [initial public offering] however the valuations look expensive therefore aggressive investors with a long-term view can hold this stock while those who were playing for listing gain should book profit because we are expecting some listing gain of around 20-25% based on subscription figure and grey market trend current GMP 180 (+27%),” said Aayush Agrawal, senior research analyst, merchant banking at Swastika Investmart. Post listing, the market capitalisation of the company stood at ₹3,724 crore, according to BSE data. The shares of Tarsons Products were trading at ₹722, higher by 9% at 10.00 a.m., on November 26. The grey market had indicated a strong listing too as unlisted shares of Tarsons Products were commanding a marginal premium of ₹180 per share. The IPO, which was open between November 15 and November 17, received strong response from investors. It was subscribed 77.49 times on the last day of the bidding. Tarsons Products is engaged in designing, developing, manufacturing and supplying a diverse range of quality labware products used in laboratories across research organisations, academic institutes, pharmaceutical firms, diagnostics companies and hospitals. Some of the company’s clients include Dr Reddy's Laboratories, Metropolis Healthcare, Dr. Lal Path Labs. Tarsons sells nearly one in every ten labware products sold in India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-upstox-is-now-valued-more-than-its-rivals-zerodha-and-groww/articleshow/87922976.cms">Ratan Tata-backed Upstox is now valued more than its rivals Zerodha and Groww</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-tarsons-products-asian-paints-and-other-hot-stocks-on-november-26/slidelist/87921730.cms">Reliance Industries, Tarsons Products, Asian Paints and other hot stocks on November 26</a>

Tarsons Products makes a decent stock market debut amid weak market trend; lists at 6% premium

<ul><li><keyword id="12496770" type="General" weightage="20" keywordseo="tarsons-products-ipo" source="Orion">Tarsons Products IPO</keyword> is all set to list in stock exchanges tomorrow, November 26.</li><li>Investors have shown good interest in the IPO as it has been subscribed 77.49 times.</li><li>The grey market premium of the Indian labware company has come down to ₹170 from ₹200 earlier.</li></ul>Indian labware company Tarsons Products is all set to list its initial public offering (IPO) on stock exchanges tomorrow, November 26. The IPO has shown a good response from investors as it has been subscribed 77.49 times. While the company was looking to raise ₹1,024 crore through the IPO, it received bids for ₹55,625 crore. Investors have bid for 84 crore stocks out of 1.08 stock available for bids. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription status </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">115.77 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-Institutional Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">184.58 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.56 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overall </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">77.49 times </td></tr></tbody></table> However, the grey market premium of the Indian labware company has come down to ₹170 from ₹200 earlier. The IPO consisted of a fresh issue of equity shares worth ₹150 crore and an offer for sale (OFS) of 1.32 crore equity shares that will be sold by promoters and an investor. Some of the company’s clients include Dr Reddy's Laboratories, Metropolis Healthcare, Dr. Lal Path Labs. Tarsons sells nearly one in every ten labware products sold in India. Analysts are betting big on the healthcare sector even post covid and expect the labware products company to continue growing. “COVID has turned out to be a boon for the companies in the healthcare space as worldwide governments have started allocating more funds and people in general have become more conscious towards the healthcare benefits. We expect the firm to grow faster than current CAGR [compound annual growth rate] given the laboratory instrument industry is growing at 20%,” said analysts at Nirmal Bang. Tarsons Products is engaged in designing, developing, manufacturing and supplying a diverse range of quality labware products used in laboratories across research organisations, academic institutes, pharmaceutical firms, diagnostics companies and hospitals. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/how-to-check-go-fashions-ipo-allotment-status/articleshow/87891055.cms">Go Fashion IPO’s allotment status would be announced today, GMP at ₹425</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-coal-india-and-other-top-stocks-to-watch-out-for-on-november-25/slidelist/87901109.cms">Reliance Industries, Coal India and other top stocks to watch out for on November 25</a>

Tarsons Products IPO listing tomorrow; GMP staggers around ₹170

From Nykaa to Cipla to 3i infotech — these are some of the themes the market is betting on amid a sell-off

<ul><li>Vijaya Diagnostic IPO is the second diagnostic lab chain to list publicly in recent times after <keyword id="11265915" type="General" weightage="20" keywordseo="krsnaa-diagnostics" source="Orion">Krsnaa Diagnostics</keyword>.</li><li>The IPO of the company will open on September 1 and close on September 3 with a price band of ₹522 to ₹531 per share.</li><li>The company aims to deepen its presence in Andhra Pradesh, Telangana and is looking to acquire good diagnostic firms in eastern India to explore business opportunities there, said Sunil Chandra Kondapally, executive director at Vijaya Diagnostic in an interview with Business Insider.</li></ul>Vijaya Diagnostic, which is to launch its initial public offering (IPO) on Wednesday, is looking to acquire more diagnostics firms in eastern India to expand its business. The company has a strong presence in southern India in the states of Andhra Pradesh and Telangana and now looks to expand in some eastern states primarily through acquisition. The company offers a “one-stop solution” for pathology and radiology testing services through its 80 diagnostic centres and 11 reference laboratories across 13 cities and towns in the states of Telangana and Andhra Pradesh and in the National Capital Region and Kolkata. “We are a debt free company and due to our strong margin we also have liquidity on the balance sheet. We have built up a ₹250 crore cash on the book so priority is to use that corpus for the growth of the business. So we are definitely open for acquisition opportunities in any markets of interest,” said Sunil Chandra Kondapally, executive director at <keyword id="182111" type="General" weightage="20" keywordseo="vijaya-diagnostics" source="Orion">Vijaya Diagnostics</keyword> in an interview with Business Insider. The diagnostics company’s business model is different from that of similar listed diagnostics companies -- <keyword id="122279" type="General" weightage="20" keywordseo="metropolis" source="Orion">Metropolis</keyword> Lab, <keyword id="122277" type="General" weightage="20" keywordseo="dr-lal-pathlabs" source="Orion">Dr Lal PathLabs</keyword>. “Right from inception our focus has been to offer both radiology, pathology and imaging all under one roof so that the patient does not have to visit any other place. In that sense we are quite different as all our centres offer these services. 93% of our revenue comes from business-to-consumer (B2C) business whereas other players have more of [a] business-to-business (B2B) model,” added Kondapally. Further, the company is in hunt for diagnostics firms that have a similar kind of B2C business model with brand visibility. Vijaya Diagnostic Centre’s IPO is an entire offer for sale (OFS) from existing promoters of 3.56 crore equity shares. The company’s founder Dr. S. Surendranath Reddy will sell 50.98 lakh shares, Karakoram Limited will sell up to 2.94 crore shares and Kedaara Capital will sell partial stake of up to 11.02 lakh shares. The private equity investor and the promoter company are not exiting completely from the firm as post-issue Kedaara Capital will hold 10% stake in the company and the promoter will have 55% shareholding and remaining 35% will be available publicly for investors. Vijaya Diagnostic says it has a market share of 7% in its home market -- Andhra Pradesh, Telangana. Going forward, it looks to capture close to 20% of it. The market size of the business in both states is worth ₹5,100 crore, Kondapally said in the interview. The diagnostics company’s revenue and profit have also been increasing consistently. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Net profit (in ₹ crore) </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">84.9 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">62.5 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">46.2 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue (in ₹ crore) </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">388.5 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">354.1 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">302.9 </td></tr></tbody><tbody></tbody></table> The latest acquisition by the company in east India was listed firm Medinova Diagnostics Services in 2014, which had established centres in Kolkata. The subsidiary now contributes 3.7% (June quarter) of revenue to the company. Hence, Vijaya Diagnostic plans to add more centres in that region. Over 96% of the Vijaya Diagnostic’s revenue comes from Hyderabad, the rest of Telangana, and the Andhra Pradesh region. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/airtels-board-approves-raising-funds-of-up-to-21000-crore/articleshow/85737069.cms">Airtel’s board approves raising funds of up to ₹21,000 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/dcga-extends-ban-on-international-passenger-flights-till-september-30/articleshow/85735218.cms">DCGA extends ban on international passenger flights till September 30</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/tokyo-paralympics-paddler-bhavinaben-patel-wins-historic-silver-in-womens-singles-tables-tennis/articleshow/85731500.cms">Tokyo Paralympics: Paddler Bhavinaben Patel wins historic silver in women's singles tables tennis</a>

IPO-bound Vijaya Diagnostic is planning more acquisitions in east India to expand business

<a href="http://www.businessinsider.in/searchresult.cms?query=Peyush+Bansal&amp;sortorder=effectivedate">Peyush Bansal</a> reminds you of <a href="http://www.businessinsider.in/searchresult.cms?query=Suicide+Squad&amp;sortorder=effectivedate">Suicide Squad</a>’s <a href="http://www.businessinsider.in/searchresult.cms?query=Deadshot&amp;sortorder=effectivedate">Deadshot</a>. He is not a killer, but has built a killer business from scratch. 
 
As some <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce&amp;sortorder=effectivedate">e-commerce</a> biggies struggle with lower valuations, this <keyword id="3564404" type="UNKNOWN" weightage="60" keywordseo="online-eye-wear">online eye-wear</keyword> retailer has raised money from <a href="http://www.businessinsider.in/searchresult.cms?query=Ratan+Tata&amp;sortorder=effectivedate">Ratan Tata</a> and Infosys co-founder <a href="http://www.businessinsider.in/searchresult.cms?query=S+Gopalakrishnan&amp;sortorder=effectivedate">S Gopalakrishnan</a>. The latest fund-raising round will spike <keyword id="1518229" type="PERSON" weightage="60" keywordseo="Lenskart">LensKart</keyword>’s valuation to $240 million, and Bansal says it will turn profitable in 2017. 
 
Growing at a solid 125%, the idea is to charge forward, hard and strong. They even developed a light-weight eye-testing equipment that can survive a drop from the 20th floor. 
 
Business Insider chatted up with Peyush to understand what he’s been up to. 
 
At a time when business is moving offline to online, you’ve done the reverse. 
It’s not a question of online or offline. You can do it either way. 
 
Just reach out to your consumers to know what they like and don’t like about you. Our consumers prefer to try before they buy, and so we created a click-and-mortar store model. That’s the idea. 
 
But offline is way more asset-heavy… 
Every medium has its own pros and cons. It all depends on the vision of the company. 
 
If your vision is half-a-billion Indians to wear you, you can’t work on those notions. If people want to consume your product, I don’t think any medium is expensive. The problem kicks in when you aren’t selling enough, that too at a discounted price. 
 
Why scale your home service programme in a country that has so many logistic loop-holes? Just because <keyword id="108235" type="ORGANIZATION" weightage="60" keywordseo="logistics">logistics</keyword> is struggling in India doesn’t have anything to do with us. 
 
Think of Doctor Lal’s Path Labs. It’s very successful in the home-service business. It’s all about what and how you are providing the service to make it accessible. For millions of Indians to wear specs, 2000 stores, a mobile app and a mobile website aren’t enough. The home service programme helps us take our service to tier II and tier III cities without the hassles of buying property. 
 
Think of an <a href="http://www.businessinsider.in/searchresult.cms?query=Uber&amp;sortorder=effectivedate">Uber</a> or <a href="http://www.businessinsider.in/searchresult.cms?query=Ola&amp;sortorder=effectivedate">Ola</a>. They have scaled fantastically just because of this. The idea is to build that kind of accessibility. 
 
How much money has gone into developing your new eye-testing equipment? 
It’s taken months of R&amp;D and at least a million dollars. The equipment is placed in an unbreakable, waterproof case that allows the optician to travel whatever the weather conditions. 
 
What are your targets like for the year? 
We are looking to treat at least 10,000 eyes every day. That’s 2 million every year. We are operationally profitable. We’ll be net profitable in mid-2017.

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