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New Delhi, Chemicals maker <keyword id="10487971" type="General" weightage="20" keywordseo="Anupam-Rasayan" source="Orion">Anupam Rasayan</keyword> India Ltd on Tuesday posted a marginal increase of 1.84 per cent in consolidated net profit at Rs 48.69 crore in the second quarter of the current fiscal year. The company's net profit stood at 47.81 crore in the same quarter of the previous year, according to a regulatory filing. Total income rose to Rs 395.61 crore during the July-September quarter of the 2023-24 fiscal, from Rs 383.14 crore in the year-ago period. Expenses remained slightly higher at Rs 324.94 crore in the period under review, as against Rs 315.72 crore in the said period. "Amidst the challenging external environment, I am happy that we have been able to hold our ground and deliver some growth," said Anupam Rasayan Managing Director Anand Desai. In the first half of the current fiscal, total revenue rose to Rs 794.4 crore, reflecting a robust year-over-year growth of 11 per cent. Our strong margins at 28 per cent for the first half this year are a testament to the company's unique business model, he said. During this quarter, the company launched three new molecules, bringing the total to five by the end of H1 of the 2023-24 fiscal, he said, adding "we will launch an additional five molecules by the close of FY24." Desai further said, "we are seeing a resurgence in demand, which instills confidence of delivering growth in coming quarters. This bolsters our confidence in achieving consistent growth and maintaining our margin profile." The company has also signed three memorandum of understanding (MoUs) with the Gujarat government for afforestation in a bid to balance carbon emissions and achieve energy neutrality by 2027. Anupam Rasayan said the board has approved issuance of 19.04 lakh equity shares on a preferential basis to promoters and 39.14 lakh convertible warrants on preferential basis to non-promoters. The Gujarat-based company has a manufacturing capacity of 27,200 tonnes spread over six facilities.

Anupam Rasayan Q2 net profit up 1.84% to Rs 48.69 cr

<ul><li>A ₹760-crore initial share-sale of <keyword id="10487971" type="UNKNOWN" weightage="20" keywordseo="Anupam-Rasayan">Anupam Rasayan</keyword> is set to make its way to the public markets on Friday (March 12).</li><li>Anupam Rasayan commenced operations in 1984 with conventional products, and now it makes speciality chemicals that involve multi-step synthesis and complex chemistries.</li><li>The company mainly caters to the agrochemical, personal care and pharmaceutical sectors, which accounted for over 95% of its revenues in 2019-20.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>A ₹760-crore initial share-sale of speciality chemical company Anupam Rasayan is set to make its way to the public markets on Friday (March 12). The company has fixed a price band of ₹553-555 a share for its IPO. The three-day public issue will close on March 16. It plans to use the funds to repay its debt partly. As of September, the company had a total debt of ₹814.48 crore, and it plans to repay at least ₹556.20 crore in debt. The Surat-based company has reserved about 2.20 lakh shares for employees. Half of the issue is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional bidders. Anupam Rasayan commenced operations in 1984 with conventional products, and now it makes speciality chemicals that involve multi-step synthesis and complex chemistries. Anupam Rasayan’s business has two verticals — life science related to speciality chemicals and other speciality chemicals. The life science-related speciality chemicals are used in agrochemicals, personal care, and pharmaceutical sectors, whereas the other is used for pigment, dyes, polymer additives, etc. <keyword id="10487969" type="UNKNOWN" weightage="20" keywordseo="Anupam-Rasayan-IPO">Anupam Rasayan IPO</keyword> opens on Friday <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 12 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Closes on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 15 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹553-555 per share </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum bid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">27 equity shares </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for qualified institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for non-institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for retail investors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr></tbody></table> Once the IPO is concluded, the equity shares will be listed on both the exchanges — BSE and NSE. Axis Capital, Ambit Private, IIFL Securities, and JM Financials are the book running lead managers for its public offering IPO. Anupam Rasayan IPO: All you need to know <ul><li>The company mainly caters to the agrochemical, personal care and pharmaceutical sectors, which accounted for over 95% of its revenues in 2019-20. Its clients include Syngenta Asia Pacific, Sumitomo Chemical Company and UPL Limited.</li><li>Anupam Rasayan has six multi-purpose manufacturing facilities based in Gujarat with a combined installed capacity of around 23,396 metric tonnes, of which 6,726 metric tonnes was added in March last year.</li><li>Its revenue from operations increased by 45% to ₹539.22 crore in the nine months ended December 31 from ₹371.80 crore in the corresponding year-ago period.</li><li>The grey market is ready to pay a hefty premium for its shares ahead of the IPO. The shares were commanding a premium of ₹290 apiece at a fixed price band of ₹553-555.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/oyo-vs-zo-zostel-claims-victory-while-the-ritesh-agarwal-led-firm-says-theres-still-room-to-win/articleshow/81386851.cms">OYO vs Zo – Zostel claims victory while the Ritesh Agarwal-led firm says there’s still room to win</a><a href="https://www.businessinsider.in/business/startups/news/oyo-vs-zo-zostel-claims-victory-while-the-ritesh-agarwal-led-firm-says-theres-still-room-to-win/articleshow/81386851.cms"></a> <a href="https://www.businessinsider.in/stock-market/news/sensex-up-300-points-nifty-crosses-15000-banks-oil-stocks-lead/articleshow/81386563.cms">Sensex up 300 points, Nifty crosses 15,000 — banks, oil stocks lead</a><a href="https://www.businessinsider.in/stock-market/news/sensex-up-300-points-nifty-crosses-15000-banks-oil-stocks-lead/articleshow/81386563.cms"></a> <a href="https://www.businessinsider.in/india/news/international-womens-day-take-a-look-at-some-of-the-finest-achievements-by-indian-women/slidelist/81385710.cms">International Women’s Day: Take a look at some of the finest achievements by Indian women</a>

Anupam Rasayan’s ₹760 crore IPO is set to open on Monday — price band for the issue at ₹553-555 per share

<ul><li>Healthtech startup <keyword id="10704064" type="General" weightage="100" keywordseo="padcare" source="Orion">PadCare</keyword> bagged a joint deal from four sharks on Shark Tank India at ₹1 crore for 4% equity. </li><li>One sanitary <keyword id="791337" type="General" weightage="50" keywordseo="napkin" source="Orion">napkin</keyword> takes 500 to 800 years to decompose and 98% of sanitary napkins go into landfills and water bodies, claims the founder. </li><li>PadCare, which works to create a menstrual hygiene management ecosystem, offers three products- <keyword id="16342957" type="General" weightage="50" keywordseo="padcare-bin" source="Orion">PadCare bin</keyword>, PadCare X and PadCare Vend. </li><li>The startup’s PadCare bins’ clients include Facebook, Capgemini and Goldman Sachs. </li></ul><keyword id="16342956" type="General" weightage="50" keywordseo="rekha-dhariya" source="Orion">Rekha Dhariya</keyword>, a mother from Mhasla, a small village in Maharashtra, did not neglect her eight-year-old son Ajinkya’s question about what a sanitary napkin was, after he had watched a television ad. The boy went on to found PadCare Labs- a startup that develops sustainable sanitary disposal technologies. On the business reality show Shark Tank India Season 2, PadCare bagged a joint deal from four sharks – securing ₹1 crore for 4% equity. <keyword id="544908" type="General" weightage="50" keywordseo="namita-thapar" source="Orion">Namita Thapar</keyword> (executive director, Emcure Pharmaceuticals),<a href="https://indianexpress.com/article/entertainment/television/shark-tank-india-2-peyush-bansal-floored-by-broomees-founders-video-8415980/"> Peyush Bansal</a> (co-founder, CEO Lenskart), <keyword id="246967" type="General" weightage="50" keywordseo="vineeta-singh" source="Orion">Vineeta Singh</keyword> (co-founder, CEO of Sugar Cosmetics) and <keyword id="127971" type="General" weightage="50" keywordseo="anupam-mittal" source="Orion">Anupam Mittal</keyword> (co-founder of Shaadi.com) were the sharks who invested in the startup. “One sanitary napkin takes 500 to 800 years to decompose and 98% of sanitary napkins go into landfills and water bodies. They are also burnt at 800 degrees with a process called incineration, producing hazardous waste, toxic smell and smoke,” said 26-year-old <keyword id="16342958" type="General" weightage="50" keywordseo="ajinkya-dhariya" source="Orion">Ajinkya Dhariya</keyword> on Shark Tank India. Earlier while working for ISRO as an R&amp;D engineer, Dhariya visited a landfill in Pune, and saw rag pickers picking up sanitary waste and diapers with their bare hands. This is how healthtech startup PadCare was born. “A woman spends 5 days a month and approximately five to six years of her life experiencing a menstrual cycle. She consumes over 7,500 sanitary napkins in a lifetime. Our rag pickers pick these up with their bare hands. But in embarrassment, in villages, these are either buried or burned. 1,200 crore sanitary napkins are used every year in India,” Dhariya, who is also the CEO of PadCare. To solve this, Padcare offers three products – PadCare bin (stores hazardous waste for 30 days without bacterial growth or smell), PadCare X (recycles 15,000 sanitary napkins into wood pulp and high quality plastics) and PadCare Vend (a sanitary napkin vending machine). The Padcare bin is also India’s first 5D-technology-based patented sanitary napkin disposal and recycling system, the founder said. “The wood pulp and plastic is sold in the market to paper and packaging industries. These can be converted into creating a PadCare bin as well,” he added. Scaling Padcare across India With the help of earlier clients State Bank of India and Praj Industries, PadCare installed 3 PadCare bins in the beginning. Today, the company has 150 clients including Facebook, Capgemini and Goldman Sachs and has installed over 5,500 PadCare bins. PadCare is currently present in 6 cities across over 100 organisations and its products are being used by 1 lakh women, conserving 15 metric tons of carbon emissions, as per Dhariya. US, Canada, Singapore and African countries have expressed interest in using PadCare products, he said. The startup was also supported by Tata Trust, Infosys Foundation and additionally received a ₹2.25 crore government grant to develop the PadCare X machine. In FY22, the startup had sales of ₹1.05 crore. Dhariya was part of the <a href="https://www.forbes.com/profile/ajinkya-dhariya/?sh=5851d146717c">Forbes</a> Asia 30 under 30 list under healthcare and science category in 2021. However, the journey to create a sanitary disposal system, especially by a man, is not a common sight and Dhariya faced a lot of ridicule. But his family became his support system. “Sanitary pads were needed everyday for research. I thought I would have to seek the help of my friends. He is my brother so I gave him my pads. Ajinkya is a brother to all the women out there,” Aishwarya Mapara, Dhariya’s sister said. Moved by the social cause Dhariya was tackling, Lenskart’s Bansal offered a blank cheque to Dhariya. “He is the Padman of 2022,” said shark Aman Gupta referring to the Bollywood movie Padman and its lead character played by Akshay Kumar, who resolves to address social stigma associated with menstrual hygiene. Kumar’s character is based on real-life hero Arunachalam Muruganantham, a social entrepreneur and the inventor of a low-cost sanitary pad-making machine. While Dhariya’s ask was ₹50 lakh for 2% equity at valuation of ₹25 crore, he ended up getting ₹1 crore for 4% equity, for the same valuation. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/marico-q3-net-profit-falls-5-to-333-cr-revenue-up-2-6-to-2470-cr/articleshow/97581307.cms">Marico Q3 net profit falls 5% to ₹333 cr, revenue up 2.6% to ₹2,470 cr</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/mens-apparel-brand-snitch-sews-all-sharks-together-gives-king-of-bling-anupam-mittal-his-own-fashion-line/articleshow/97576836.cms">Men’s apparel brand Snitch sews all sharks together – Gives ‘King of Bling’ Anupam Mittal his own fashion line</a>

‘Padman of 2022’: Shark Peyush Bansal offers founder of women’s hygiene startup PadCare a blank cheque

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> are likely to open in the green on Friday amid positive global cues. </li><li><keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the markets may perform, was up 62 points, or 0.34% early in the morning today. </li><li><keyword id="118623" type="General" weightage="20" keywordseo="adani-enterprises" source="Orion">Adani Enterprises</keyword>, <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>, <keyword id="111876" type="General" weightage="80" keywordseo="bajaj-finance" source="Orion">Bajaj Finance</keyword> are amongst stocks in focus on Friday. </li></ul>India’s benchmark indices Sensex and <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>50 are likely to open in the green on Friday amid positive global cues. SGX Nifty, an early indicator of how the markets may perform, was up 62 points, or 0.34% early in the morning today. Earlier on Wednesday, Sensex and Nifty50 both experienced heavy selling – while Sensex declined 1.27%, Nifty50 fell 1.25% and closed below the 18,000 level. The markets were closed on Thursday, January 26, on account of Republic Day. The Indian rupee was closed nearly flat against the US dollar on Wednesday, down 2 paise to end at 81.65. Crude oil prices edged up to $87.55 per barrel on Friday morning, up 0.31%. <cmsannotation type="cmsannotation" annotationid="US markets experience choppy trading ahead of next week’s US Fed meeting" comment="subhead" text="US markets experience choppy trading ahead of next week’s US Fed meeting">US markets experience choppy trading ahead of next week’s US Fed meeting</cmsannotation> Markets in the US witnessed choppy trading on Thursday as investors started gearing up for next week’s US Fed meeting. Despite the volatility, the S&amp;P 500 index closed at its highest level in a month, ending 1.1% up. The Dow Jones Industrial Average gained 0.61%, while the tech-heavy Nasdaq rallied 1.76%. In Asia, markets were in the green on Friday, led by Korea’s KOSPI which was up 0.9%, followed by Straits Times which gained 0.4%. The Hang Seng index was flat, up by 0.01%, while the Nikkei 225 index gained 0.07% on Friday. The Shanghai Composite index was closed on account of the Lunar New Year holiday. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> Adani Enterprises: The Adani Enterprises’ ₹20,000 crore follow-on public offer (FPO) will go live today, with a price band of ₹3,112-3,276 per share. The company has raised ₹5,985 crore from anchor investors. The FPO will be open for subscription from January 27 to January 31. Tata Motors: The automaker reported its first consolidated net profit after seven quarters. Its consolidated net profit stood at ₹2,958 crore in Q3 on the back of strong domestic sales as well as a rebound in JLR sales. Its consolidated revenue grew 22.5% year-on-year to ₹88,489 crore. Bharti Airtel: The telco has increased the prices of its cheapest plan by 57% in seven circles as it looks to boost its average revenue per user (ARPU). Future Retail: Kishore Biyani, the founder of Future Group has resigned as the company’s executive chairman and director. Earnings today: Bajaj Finance, Vedanta, Aarti Drugs, Anupam Rasayan India, Aditya Birla Sun Life AMC, Sterlite Technologies, Glenmark Life Sciences, among others. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tata-motors-in-top-gear-reports-net-profit-of-2958-crore-in-q3-its-first-after-seven-quarters/articleshow/97319081.cms">Tata Motors In Top Gear: Reports net profit of ₹2,958 crore in Q3, its first after seven quarters</a> <a href="https://www.businessinsider.in/stock-market/news/equity-markets-have-usually-been-nervous-ahead-of-budget-but-a-relief-rally-is-likely-post-budget/articleshow/97286146.cms">Equity markets have usually been ‘nervous’ ahead of budget but a relief rally is likely post budget, say analysts</a> <a href="https://www.businessinsider.in/business/corporates/news/maruti-suzukis-q3-net-profit-zooms-133-to-2351-crore-on-lower-input-costs/articleshow/97275909.cms">Maruti Suzuki’s Q3 net profit zooms 133% to ₹2,351 crore on lower input costs</a>

Sensex, Nifty50 likely to open on a positive note amid positive global cues: Adani Enterprises, Tata Motors, Bajaj Finance among stocks in focus

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> edged lower in morning trade on Wednesday amid jittery markets worldwide. </li><li>PSU bank and IT stocks declined in morning trade amid jitters in the US banking sector. </li><li>Both the indices were down 0.3%, with Sensex trading at 61,154 points and Nifty50 at 18,088 points. </li></ul>India’s benchmark indices Sensex and Nifty50 edged lower in morning trade on Wednesday amid jittery markets worldwide. PSU bank and IT stocks declined in morning trade amid jitters in the US banking sector. Both the indices were down 0.3%, with Sensex trading at 61,154 points and Nifty50 at 18,088 points. The top five active stocks were all heavyweights, including HDFC Bank, Reliance Industries, TCS, among others. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.12% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.65% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.77% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.40% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.75% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.10% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.62% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.09% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.61% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.03% </td></tr></tbody></table> Source: NSE, as on May 3, 2023 Earlier on Tuesday, Sensex closed 0.4% higher while Nifty50 gained 0.46% led by energy, metal and IT stocks. Gold prices spiked amid mounting growth concerns around the world. Gold gained 1.41% to cross the ₹60,000 level once again to close at ₹60,605 per 10 grams. On the other hand, crude oil prices fell sharply, with Brent crude hovering around $75.5 per barrel, down from the $79 levels. The US Fed’s FOMC is also expected to announce a 25 basis point rate hike this week. <cmsannotation type="cmsannotation" annotationid="Global markets feel the jitters" comment="subhead" text="Global markets feel the jitters">Global markets feel the jitters</cmsannotation> Mounting risks of a contagion in the US’ regional banking sector has made investors jittery – two banks, PacWest Bancorp and Western Alliance both fell by over 25% on Tuesday. The sell-off was visible in the wider markets as well, with Dow Jones falling by 1.1% while S&amp;P 500 was down 1.2%. The tech-heavy Nasdaq fell 1.1%. Asian markets were largely in the red, with Hang Seng falling the most at 1.6%, followed by KOSPI which was down 0.9%. Taiwan Weighted fell 0.5%, while Nikkei 225 rose 0.1%. The Shanghai Composite, on the other hand, was up 1.1%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="6357147" type="General" weightage="20" keywordseo="tata-steel" source="Orion">Tata Steel</keyword>: The Tata Group company reported 84% on year decline in consolidated net profit at ₹1,566 crore in March quarter while revenue from operations dropped 9.2% to ₹62,961 crore. <keyword id="105382" type="General" weightage="20" keywordseo="ambuja-cements" source="Orion">Ambuja Cements</keyword>: The cement manufacturer reported a standalone net profit of ₹502 crore in the March quarter, seeing an increase of 1.6% YoY, with restructuring costs impacting the profitability. Revenue grew 8.4% YoY to ₹4,256 crore, while volumes grew 8% during the quarter. Bharti <keyword id="15491" type="General" weightage="20" keywordseo="airtel" source="Orion">Airtel</keyword>: The telecom operator has merged its operations of Bharti Airtel Lanka with Dialog, a subsidiary of Malaysian multinational telecommunications conglomerate Axiata Group Berhad. The move will give the company a larger user base in Sri Lanka. Fino Payments Bank: The company has reported 25% growth in March quarter net profit at ₹22 crore while total income rose 13% to ₹323 crore. Earnings today: Titan, Adani Wilmar, Bajaj Consumer Care, Godrej Properties, Tata Chemicals, MRF, ABB India, Havells India, Jyothy Labs, KEC International, Sula Vineyards, Anupam Rasayan are among companies to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/investment/news/silver-may-offer-an-attractive-investment-option-as-china-reopens/articleshow/99944101.cms">Silver on an upswing – The metal may offer an attractive investment option as China reopens</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-total-gas-reports-8-rise-in-fy23-net-profit-to-546-croreannounces-plans-to-expand-ev-charging-points-to-3000/articleshow/99936234.cms">Adani Total Gas reports 8% rise in FY23 net profit to ₹546 crore,announces plans to expand EV charging points to 3,000</a>

Sensex, Nifty50 edge lower in morning trade as PSU bank and IT stocks fall

<ul><li>Indian benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> are likely to open in the green on Monday amid mixed global cues.</li><li><keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the markets may perform, was down 0.08% or 14 points early in the morning today.</li><li><keyword id="13222" type="General" weightage="20" keywordseo="sbi" source="Orion">SBI</keyword>, ITC, Vodafone Idea are amongst the stocks in focus on Monday.</li></ul>Indian benchmark indices Sensex and <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>50 are likely to open in the green on Monday amid mixed global cues. SGX Nifty, an early indicator of how the markets may perform, was down 0.08% or 14 points early in the morning today. Earlier on Friday, both the benchmark indices closed in the green led by financial services and auto stocks, capping off a week of volatile movements. While the 30-stock Sensex closes 2.42% up in the last week, the 50-stock Nifty50 gained 1%. “Indian markets could open flat, in line with mixed Asian markets today and despite lower US markets on Friday,” said Deepak Jasani, head of retail research at HDFC securities. Global markets tumble on strong jobs data in the US Markets in the US and Asia tumbled on strong jobs and other economic data in the US. Heightened geopolitical concerns between the US and China also made markets in Asia jittery, after the US downed an alleged Chinese spy balloon. Strong jobs data in the US sparked concerns of interest rate hikes by the Fed. The Dow Jones Industrial Average declined 0.38%, while the S&amp;P 500 declined 1.04%. The tech-heavy Nasdaq declined 1.59%. In Asia, markets declined amid concerns of rate hikes continuing further amid strong jobs data in the US and elsewhere. While the Hang Seng index declined 2%, the Taiwan Weighted index fell 1.08% and Shanghai Composite was down 0.6%. On the other hand, Nikkei 225 was up 1.07%. <keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword> State Bank of India: The lender reported 68% on year surge in net profit for December quarter at ₹14,205 crore owing to lower provisions and higher interest income. It is the bank’s highest ever quarterly net profit. ITC: The FMCG to cigarette conglomerate reported 21% on year rise in net profit to ₹5,031 crore for December quarter while revenue rose 2.3% to ₹16,226 crore aided by cigarettes, FMCG, hotels and paper segments. Meanwhile, operating margin expanded 620 basis points from last year. Vodafone Idea: The centre has approved the conversion of the telecom operator’s dues linked to interest on spectrum and adjusted grow revenue (ADR) worth ₹16,133 crore into equity. With this, the government owns 35.8% stake in the company becoming the largest shareholder. Adani Enterprises, Adani Ports, Ambuja Cements: NSE and BSE have put all three companies under its short term additional surveillance measure frameworks from today February 6. Tata Power: The company reported 91% on year growth in consolidated net profit at ₹1,052 crore for December quarter while revenue grew 30% on year to ₹14,339 crore. One 97 Communications (Paytm): The fintech company narrowed its net loss to ₹392 crore as against ₹778 crore last year while revenue grew 42% on year to ₹2,062 crore for December quarter. InterGlobe Aviation: After three consecutive loss making quarters, Indigo's profit has risen to ₹1,422 crore for Q3 FY23 as against ₹129 crore last year. Earnings today: Tata Steel, Adani Transmission, LIC Housing Finance, Easy Trip Planners, Infibeam Avenues, Suven Pharmaceuticals, JK Paper, among others. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adanis-stock-rout-can-impact-its-ability-to-raise-capital-or-refinance-debt-says-moodys/articleshow/97582403.cms">Adani’s stock rout can impact its ability to raise capital or refinance debt, says Moody’s</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/mens-apparel-brand-snitch-sews-all-sharks-together-gives-king-of-bling-anupam-mittal-his-own-fashion-line/articleshow/97576836.cms">Men’s apparel brand Snitch sews all sharks together – Gives ‘King of Bling’ Anupam Mittal his own fashion line</a>

Sensex, Nifty50 likely to open lower amid mixed global cues: SBI, ITC, Vodafone Idea among stocks in focus

<ul><li>Shares of <keyword id="267527" type="COMPANY" weightage="20" keywordseo="Craftsman-Automation">Craftsman Automation</keyword> listed on the stock exchanges at ₹1,359 per share, which is nearly 9% less than the issue price.</li><li>The company’s initial public offer (IPO) was oversubscribed by 3.82 times.</li><li>It intends to use parts of the proceeds towards repaying its loans worth ₹120 crore, while the rest will go to shareholders selling their shares – the promoters and investors.</li></ul>Shares of Craftsman Automation, a Coimbatore-based manufacturer of engineering products, debuted at ₹1,359 per share, which is nearly 9% lower than its issue price of ₹1,490. At 10:05 am, the share price of Craftsman Automation was hovering around ₹1,415, down by 5% over the issue price. The engineering products and services company floated its ₹824 crore initial public offer (IPO) earlier this month. The IPO was oversubscribed by 3.82 times, with qualified institutional investors leading the fray. The Coimbatore-based Craftsman Automation plans to repay its debts worth ₹120 crore from the proceeds of the IPO. The remaining amount will go to the promoters and investors who are selling their shares. The grey market premium for Craftsman Automation’s shares was hovering around the ₹30-35 mark, which translates to approximately 2% of the issue price of ₹1,490. It is worth noting that grey market premium is not an official measure of market premium. Craftsman Automation commenced operations in 1986. It has vertically integrated manufacturing capabilities and primarily caters to three business verticals – automotive-powertrain, automotive-aluminum, and industrial &amp; engineering. Craftsman is the leading player when it comes to machining of cylinder blocks and cylinder heads which are used in the commercial vehicles and construction equipment industries. It is also one of the top companies when it comes to supplying these parts in the tractor segment. In its IPO note, SMC Global Securities stated that Craftsman Automation’s revenue is diversified across customers, which shields it from the market uncertainties. “Its diversification of revenue across multiple customers allows it to prevent any possible customer concentration in any of its business segments,” stated a report by SMC Global Securities dated March 10. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/anupam-rasayan-ipo-lists-at-520-per-share-on-the-india-stock-exchange/articleshow/81663145.cms">Anupam Rasayan fails to dazzle on its stock market debut – shares down by nearly 8% soon after listing</a> <a href="https://www.businessinsider.in/stock-market/news/the-760-crore-anupam-rasayan-ipo-has-received-a-mixed-response-from-brokerages-heres-what-works-for-it-and-what-doesnt/articleshow/81462495.cms">The ₹760-crore Anupam Rasayan IPO has received a mixed response from brokerages — here's what works for it and what doesn't</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-share-price-hit-upper-circuit-after-the-company-adds-two-renewable-energy-projects-to-its-kitty/articleshow/81627604.cms">Adani Green Energy shares hit upper circuit after the company adds two renewable energy projects to its kitty</a>

Those who got Craftsman Automation IPO shares lost 9% of their investment in the first tick

<ul><li><keyword id="10930883" type="COMPANY" weightage="20" keywordseo="laxmi-organic">Laxmi Organic</keyword> has launched its ₹600 crore initial public offer (IPO) today, and it will be open for subscription till March 17.</li><li>The price band is fixed at ₹129-130, and each lot consists of 115 equity shares.</li><li>Analysts are bullish on the company, pointing out its strengths and strategic measures undertaken.</li><li>The company has proposed to use the proceeds of the IPO towards capital expenditure for setting up new facilities and expanding its capacities.</li></ul> Laxmi Organic has kicked off its initial public offer (IPO) worth ₹600 crore today, March 15. It joins companies like Anupam Rasayan, Craftsman Automation, EaseMyTrip, MTAR Technologies among others. Laxmi Organic Industries Ltd’s initial share sale is now open and will be live till March 17, with a price band of ₹129-130. Each lot consists of 115 shares. A total of 4.65 crore shares are available for subscription in the IPO. 50% of the issue is reserved for qualified institutional buyers (QIB), 15% for non-institutional bidders and the remaining 35% for retail investors. The proceeds of the IPO are proposed to be used for repayment of certain borrowings, capital expenditure towards setting up a production facility, funding capital expenditure requirements towards expanding of specialty intermediates manufacturing facility, among other things. <cmsannotation type="cmsannotation" annotationid="What is the business of Laxmi Organic?" comment="subhead" text="What is the business of Laxmi Organic?">What is the business of Laxmi Organic?</cmsannotation> Laxmi Organic is one of the largest manufacturers of ethyl acetate, which is used as a solvent for paints, varnishes, cleaning mixtures and perfumes. Laxmi Organics is also the only manufacturer of diketene derivatives in India. Founded in 1989, Laxmi Organic is based in Mumbai and is a part of the Goenka Group. It has over three decades of experience in large scale manufacturing of chemicals. Currently, it is the largest manufacturer of ethyl acetate in India, with a market share of 30%. Its market share will be further augmented after the acquisition of Yellowstone Chemicals. At the moment, Laxmi Organic’s product line is divided in two categories – Acetyl Intermediates (AI) and Specialty Intermediates (SI). The AI category includes ethyl acetate, acetaldehyde, fuel-grade ethanol and other proprietary solvents. Specialty Intermediates comprises ketene, diketene derivatives namely esters, acetic anhydride, amides, arylides and other chemicals. Its current manufacturing capacity totals to 2.39 lakh metric tonnes per annum, with each chemical having its dedicated manufacturing facility. <cmsannotation type="cmsannotation" annotationid="Here are some of the clients of Laxmi Organic" comment="subhead" text="Here are some of the clients of Laxmi Organic">Here are some of the clients of Laxmi Organic</cmsannotation> Laxmi Organic has clients in over 30 countries, including Netherlands, China, Russia, Singapore, UAE, UK and USA. Its clients include Dr. Reddy’s Laboratories, <keyword id="672367" type="DOMAIN" weightage="20" keywordseo="Granules-India">Granules India</keyword>, Hetero Labs, Heubach Colour, Mylan Laboratories, Huhtamaki India, among others. <table style="border-width: initial; border-style: none;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Prabhudas Lilladher </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">GEPL Capital </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Capital Market </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Arihant Capital </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="Laxmi Organic – strengths and strategies" comment="subhead" text="Laxmi Organic – strengths and strategies">Laxmi Organic – strengths and strategies</cmsannotation> Leading manufacturer of ethyl acetate Laxmi Organic is one of the largest manufacturers of ethyl acetate with a market share of 30% in India. “Ethyl acetate is a highly versatile solvent used in multiple applications across industries. It is derived from nonaromatic raw materials. The bio-based origin of ethyl acetate gives it a distinct identity and makes it a preferred solvent over traditional solvents,” stated an <keyword id="6375760" type="DOMAIN" weightage="20" keywordseo="axis-capital">Axis Capital</keyword> report. Only Indian manufacturer of diketene derivatives It is also the only Indian manufacturer of diketene derivatives. This is a significant strength as India has traditionally imported the chemical. Due to its research and development efforts, Laxmi Organic has captured 55% of the revenue share in the Indian market. Diversified customer base Laxmi Organic customers are spread across various sectors like pharmaceuticals, agrochemicals, dyes and <keyword id="1540974" type="DOMAIN" weightage="20" keywordseo="Pigments">pigments</keyword>, inks and coatings, paints among others. Pharmaceuticals is the biggest contributor to its top line, with a share of 35.7% of the company’s total revenue. Strategically located manufacturing facilities, vertical integration and supply chain efficiencies Laxmi Organic currently has two manufacturing facilities in Maharashtra, which are in close proximity to several ports, including major ones like Jawaharlal Nehru (Nhava Sheva) Port, JSW port and Mumbai port. The company also has distilleries located near sugar mills in Maharashtra, giving them easy access to supply for molasses. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/craftsman-automation-has-launched-its-824-crore-initial-public-offer-ipo-in-stock-market-in-india/articleshow/81506486.cms">The ₹824-crore Craftsman Automation IPO opens today – should you subscribe?</a> <a href="https://www.businessinsider.in/stock-market/news/the-760-crore-anupam-rasayan-ipo-has-received-a-mixed-response-from-brokerages-heres-what-works-for-it-and-what-doesnt/articleshow/81462495.cms">The ₹760-crore Anupam Rasayan IPO has received a mixed response from brokerages — here's what works for it and what doesn't</a>

Laxmi Organic kicks off its ₹600 crore IPO – should you subscribe?

<ul><li>Sony Sports has played a key role in bringing non-cricket sports to India.</li><li>This year, Sony Sports is the official broadcaster of the once-in-a-four-year global sports event, Tokyo Olympics.</li><li>Rajesh Kaul, Chief Revenue Officer, Distribution and Head – Sports Business, Sony Pictures Networks India tells us how the broadcaster is trying to popularize other sports in India, its plans to immerse consumers with innovative marketing and more.</li></ul>With the lockdown being enforced, subsequent stoppage of play on the field and IPL getting postponed, advertisers have been starved of a good sporting tournament. After the pandemic, many sports properties have either been cancelled or postponed, directly affecting India’s ad revenue and sponsorship pie. While India’s most worshipped sport, cricket, still dominates viewership and sponsorship, <keyword id="3132005" type="PERSON" weightage="20" keywordseo="Sony-Pictures-Network">Sony Pictures Network</keyword> (SNP) has given its fans more choices between sporting events and SonyLiv has given them options in terms of what, when and how much to watch, leading to a rise in demand for subscription viewing in live sports. After a long, dry spell, millions of Indians are expected to tune into Tokyo Olympics this year. Sponsors and brands have also started seeing the Olympics as the one occasion to capitalise on the media and consumer attention. As a result, Sony Sports has seen an uptick in demand from sponsors and advertisers across categories for the summer games. To help its advertisers get the best bang for their buck, SPN launched an ‘innovative’ advertising format ‘Split-screen ads,’ which has <a href="https://twitter.com/Archit_0106/status/1418542834395729923">gained </a><a href="https://twitter.com/PrashantMUFC/status/1420988968238161920">mixed </a><a href="https://twitter.com/LifeIsAnElation/status/1418552243893116935">reviews </a>on social media. We caught up with Rajesh Kaul, Chief Revenue Officer, Distribution and Head – Sports Business, Sony Pictures Networks India to further understand what kind of response the broadcaster and streaming player has seen from advertisers and sponsors, how it is trying to increase non-sporting events’ viewership in india <cmsannotation type="cmsannotation" annotationid="Q. This year, brands across categories have started to roll out campaigns celebrating the inspirational journey of athletes. This wasn't the case a few years ago. More and more advertisers are exploring international sports that represent India. Are advertisers open to exploring sports beyond cricket now?" text="Q. This year, brands across categories have started to roll out campaigns celebrating the inspirational journey of athletes. This wasn't the case a few years ago. More and more advertisers are exploring international sports that represent India. Are advertisers open to exploring sports beyond cricket now?">Q. This year, brands across categories have started to roll out campaigns celebrating the inspirational journey of athletes. This wasn't the case a few years ago. More and more advertisers are exploring international sports that represent India. Are advertisers open to exploring sports beyond cricket now?</cmsannotation> Indians have always been extremely supportive of the Indian athletes when they compete at a global stage. Their performances are celebrated as it is a huge thing to even get to participate, let alone winning a medal at Olympics. More and more business houses/organizations/brands have started promoting various athletes and or Indian contingent. Sports in India is growing dramatically as an entertainment option beyond just cricket. This year. Sony Sports has embarked on a mission to popularize the athletes participating in the <keyword id="7932992" type="UNKNOWN" weightage="20" keywordseo="olympic-games-tokyo-2020">Olympic Games Tokyo 2020</keyword> and to make them household names. Sony Sports launched the grandest ever campaign in the history of Indian Olympics, Hum Honge Kamyab to galvanize the whole nation to cheer for the India contingent. From the honorable Prime minister of India himself to the sports minister as well as industrialists, sports personalities, philanthropists, Bollywood Superstars, Youtube influencers joined us in our endeavor. Sony Sports has collaborated with the Ministry of Youth Affairs and Sports as well as eminent personalities and joining the brigade are Union Minister for I&amp;B and Youth Affairs &amp; Sports, Shri Anurag Thakur, General Bipin Rawat, Chief of Defence Staff and Chairman Chiefs of Staff Committee and Mr. N.P. Singh, MD &amp; CEO, Sony Pictures Networks India, along with Amitabh Bachchan, Akshay Kumar, Anupam Kher, Sajjan Jindal, Sudha Murty, Nita Ambani, Gautam Adani, Rana Daggubati, Yuvraj Singh, Anjali Bhagwat, Parth Jindal, Boman Irani, Farhan Akhtar, Sonakshi Sinha, Johnny Lever, Ali Fazal, Adille Sumariwala, Arshad Warsi, Pullela Gopichand, Vijender Singh, Anjali Bhagwat, Harsha Bhogle, Shankar Mahadevan, Anurag Basu, and many more to catalyze the Olympic momentum in the nation for the landmark event. This was unprecedented and Sony Sports’ efforts have pumped up the volume of Olympics in India and the #Olympicsjosh decibels have gone up to another level. <div type="Youtube" id="-bnwo0ezgQE" title="Watch PV Sindhu, Manu Bhaker, Mary Kom, Deepak Kumar, Hockey (M) &amp; others LIVE, TOM, July 25 on Sony" thumbUrl="https://i.ytimg.com/vi/-bnwo0ezgQE/mqdefault.jpg"></div> <cmsannotation type="cmsannotation" annotationid="Q. Can you tell us what kind of interest you have seen from advertisers and brands?" text="Q. Can you tell us what kind of interest you have seen from advertisers and brands?">Q. Can you tell us what kind of interest you have seen from advertisers and brands?</cmsannotation> We have received a phenomenal response from advertisers and we have got sponsors on board across categories like beverages, FMCG, education, automobiles, banking, finance, gaming, sports foundations amongst others. The sponsors are Coca-Cola India Pvt. Ltd., LIC, JSW, MPL, Hero MotoCorp, Amul, Reserve Bank of India, AMFI and other advertisers include Visa, Byju’s, Adani Group, Herbalife Nutrition &amp; Lenovo and more. <cmsannotation type="cmsannotation" annotationid="Q. This once-in-a-four-year sports event attracts eyeballs from across the world hosting sports such as shooting, wrestling, long jump, and hockey. Which sport do you think will perform the best in India in terms of viewership?" text="Q. This once-in-a-four-year sports event attracts eyeballs from across the world hosting sports such as shooting, wrestling, long jump, and hockey. Which sport do you think will perform the best in India in terms of viewership?">Q. This once-in-a-four-year sports event attracts eyeballs from across the world hosting sports such as shooting, wrestling, long jump, and hockey. Which sport do you think will perform the best in India in terms of viewership?</cmsannotation> We expect great Sports like Wrestling, Shooting, Archery and Hockey, which have also done extremely well on TV in the past, due to the medal winning performances by Indian Athletes. Additionally, there has been high interest to watch Athletics and Gymnastics, owing to the visually engaging nature of the sports. During the 2016 Rio Olympics, Badminton had the highest viewership owing to PV Sindhu winning a silver medal. The final match between PV Sindhu and Carolina Marin was watched by 42 million viewers across the country. This year, we have our largest contingent ever of 127 athletes travelling to Tokyo and the whole nation will want to support and watch our athletes in the various sports disciplines they are competing in like boxing, wrestling, tennis, athletics, badminton, hockey, shooting, archery, weightlifting, Equestrian, Table tennis and more. Some of the athletes that the audiences are already looking out for are Manu Bhaker and Saurabh Chaudhary in shooting, Vinesh Phogat and Bajrang Punia in wrestling, Amit Panghal and Mary Kom in boxing, Deepika Kumari and Atanu Das, PV Sindu in badminton and more. Also, for the first time, we will see participation in fencing with Bhavani Devi and Fouaad Mirza making it to the equestrian event which will also attract audiences. Additionally, to reach out to a wider audience and engage viewers across India, Sony Sports will have a Live wraparound studio show called SPORTS EXTRAAA with a distinguished panel that comprising former Olympians and legendary Indian athletes like Vijender Singh, Gagan Narang, Karnam Malleswari, Anjali Bhagwat, Anju Bobby George, Sakshi Malik, Viren Rasquinha, Somdev Devvarman, Trupti Murgunde, Rahul Banerjee, Kripa Shankar and Satish Shivalingam. We will also have the world-renowned Sprinter and four-time Olympic medalist, Yohan Blake, considered to be the second fastest man after Usain Bolt as a marquee expert on the show. The comprehensive coverage for the global event will be broadcast LIVE in four languages: SONY TEN 2 and SONY SIX channels in English, SONY TEN 3 channels in Hindi and in Tamil &amp; Telugu on the newly launched SONY TEN 4 channels. <cmsannotation type="cmsannotation" annotationid="Q. How do brands get to benefit from advertising on Olympics through Sony this year? What is your advice to brands who are advertising? How can they get the best bang for their buck?" text="Q. How do brands get to benefit from advertising on Olympics through Sony this year? What is your advice to brands who are advertising? How can they get the best bang for their buck?">Q. How do brands get to benefit from advertising on Olympics through Sony this year? What is your advice to brands who are advertising? How can they get the best bang for their buck?</cmsannotation> The Olympic Games is an extremely premium global sporting event, the greatest show on earth with 200+ countries, 11000+ athletes across 339 events in 33 different sports, encompassing a total of 50 disciplines. As I mentioned earlier, this year, we have rolled out the grandest campaign for this showcase event involving 30+ luminaries across the country. The sheer association to the Olympics for any brand will create and drive great brand perception and awareness value. We have offered value-based propositions to our clients and have ensured that we amplify their associations with athletes in the Indian contingent which they might be sponsoring. The brands have also been given the opportunity to ride on the back of the amazing build- up programming which we have locally produced adding to the brands association and visibility. Series like “Torch bearers” are resonating well with our audiences. We are also excited to offer a new breakthrough innovation “Split Screen” advertisement opportunity during the live broadcast. This will help the brands break away from the clutter and amplifies the brand’s visibility manifold without intruding into the viewing experiences of our audiences. This new technology is a game changer and will surely get the best ROI for our key sponsors. <cmsannotation type="cmsannotation" annotationid="Q. How do you think sports marketing has changed in India in the last few years? Any interesting trends that you are expecting to see as we move forward?" text="Q. How do you think sports marketing has changed in India in the last few years? Any interesting trends that you are expecting to see as we move forward?">Q. How do you think sports marketing has changed in India in the last few years? Any interesting trends that you are expecting to see as we move forward?</cmsannotation> While Indian Cricket will dominate viewership and revenues, Sony Sports has been consistently making efforts to massify and popularize other sports. Sony Sports is a global multi-sporting arena and sports marketing here, is not only talks to the purists but also focuses on attracting fence-sitters and newer audiences to join the Sony Sports community. This has paid off and every year our viewership for sports like WWE, UFC, football properties like UEFA Champions League and non-India cricket is steadily growing. Even the recently concluded UEFA EURO 2020 on our sports channels has seen massive growth compared to the last edition in 2016 by almost 70% Sports as an entertainment quotient is only going to grow.

Sony Sports has embarked on a mission to popularize the athletes participating in the Olympic Games Tokyo 2020 and to make them household names: Rajesh Kaul of SPN

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