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Maruti Suzuki, Wipro, BHEL and other top stocks to watch out for on September 1

From BHEL to HEG and CG Power ⁠— these infrastructure stocks have turned ₹10,000 to as much as ₹30,600 in just six months

<ul><li>At 7:40 am, the SGX Nifty was trading 0.47% higher, indicating a green 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>Indian stock market is likely to open on positive note tracking cues from the Asian peers. At 7:40 am, the SGX Nifty was trading 0.47% higher, indicating a green start for Nifty50. The Hang Seng Index of the Hong Kong stock market was also trading 0.64% higher on September 14. Here’s a list of stocks to watch for in trade on September 14: Indian Railway Catering and Tourism Corporation (IRCTC) IRCTC reported a net loss of ₹24.6 crore for the quarter ended June 30. The company’s overall revenue was down 71.4% to ₹ 131.3 crores compared to the same period last year. The shares of IRCTC closed 0.34% higher on Friday. Bharat Heavy Electricals Limited (BHEL) BHEL reported a net loss of ₹897.2 crore for the first quarter ended June 30. The company’s overall revenue was down 56.1% to ₹1990.9 crore compared to the same period last year. The shares of BHEL ended flat on Friday. Future Retail Future Retail promoter Future Corporate Resources invoked pledge of 3.05 crore shares between September 1 to September 10. The shares of Future Retail ended 5% higher on Friday. Godrej Properties, Sunteck Realty, Oberoi Realty and other real estate stocks The Maharashtra government has hiked ready reckoner rates by 1.74% on Friday amid the downturn witnessed in the construction industry. The ready reckoner rates are market values of a property determined by the government for payment of stamp duty in the course of property transactions. Tata Motors The luxury vehicle arm of Tata Motors, JLR, reported a 15.5% year-on-year decline to 28,887 units in its global retail volumes for August. JLR’s total global retail sales for the June quarter stood at 74,067 units, which saw a dip of more than 42% YoY on COVID-19 led disruptions. The company has also begun the process of hive off stake in other Tata subsidiaries, Tata Technologies and Tata Hitachi Construction Machinery. The development came as part of Tata Motors’ aim to become debt free in the next 3 years. The shares of Tata Motors ended 0.24% higher on Friday. Adani Green The CEO of Adani Green said the company’s deal to buy Essel’s Solar assets is in its final stages, and the company is seeking $1.8 billion to build projects. The shares of Adani Green ended 5% higher on Friday. Reliance Industries (RIL) According to <a href="https://www.livemint.com/companies/news/carlyle-may-pick-up-2-billion-stake-in-ril-s-retail-arm-11600042534910.html">news reports</a>, Carlyle Group is looking to invest $1.5-2 billion to buy a stake in Reliance Retail. <a href="https://www.livemint.com/companies/news/carlyle-may-pick-up-2-billion-stake-in-ril-s-retail-arm-11600042534910.html">If a deal is finalized, it will mark Carlyle’s first investment in the retail</a> sector in India and its biggest so far in an Indian company. The shares of RIL ended flat on Friday. Vodafone Idea (VI) The telco giant Vodafone Idea (VI) is under the scrutiny of the Telecom Regulatory Authority of India (Trai) over its RedX premium plan. The shares of Vodafone Idea ended 2.63% lower on Friday. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/tiktok-owner-bytedance-rejected-microsofts-offer-for-the-apps-us-operations/articleshow/78097018.cms" data-type="tilCustomLink"> TikTok owner ByteDance rejected Microsoft's bid for the app's US operations, Oracle reportedly chosen as US 'technology partner'</a> <a href="https://www.businessinsider.in/thelife/news/meghan-markle-revealed-a-small-look-at-the-living-room-in-her-new-santa-barbara-home-during-a-video-interview/articleshow/78093510.cms" data-type="tilCustomLink">Meghan Markle revealed a small look at the living room in her new Santa Barbara home during a video interview</a>

Top stocks to watch— Future Retail, RIL, IRCTC, BHEL, Tata Motors, Adani Green, Vodafone Idea, Godrej Properties, Sunteck Realty and more

<ul><li>At 7:40 am, the SGX Nifty was trading 0.23% lower, indicating a muted 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>Indian stock market is likely to open on a negative note amidst cautious cues from global peers. At 7:40 am, the SGX Nifty was trading 0.23% lower, indicating a muted start for Nifty50. On Thursday, the US stocks finished sharply lower as tech shares lost momentum. The Dow Jones Industrial Average ended 1.45% lower. While the S&amp;P 500 lost 1.76% towards the end of trading. Here’s a list of stocks to watch for in trade on September 11: Reliance Industries and Future Retail Mukesh Ambani led RIL has clarified on the circulating news report about the company selling Amazon $20 billion stakes in its retail arm. RIL said, “we do not comment on media speculation and rumours, and we cannot confirm or deny any transaction which may or may not be in the works.” This may also move the shares of Mukesh Ambani’s recently acquired Future Retail. The shares of RIL closed 7.29% higher yesterday, whereas Future Retail was locked in a 5% upper circuit. Bank of Baroda and Union Bank The Bank of Baroda reduced Marginal cost of funds-based lending rate (MCLR) between 5-30 basis points across various tenors with effect from September 12. The Union Bank of India also decided to reduce the MCLR by up to 5 basis points across tenors. One hundred basis points make 1%. The shares of Bank of Baroda closed 3% higher yesterday, whereas Union Bank gained 2%. Info Edge Info Edge said its investee company Zomato had raised $160 million (₹1,173 crore) in funding from Tiger Global and Temasek Holdings subsidiary MacRitchie Investments, valuing the online food ordering platform at $3.3 billion. The shares of Info Edge closed 3.30% higher on September 10. HAL The state-owned Hindustan Aeronautics Limited (HAL) reported a 74% drop in its net profit to ₹148.7 for the first quarter ended June 30. The company’s overall revenue was down 47% compared to the same period last year. The shares of HAL closed 3.24% higher on Thursday. Maruti Suzuki The promoter of India’s largest car manufacturer Maruti Suzuki— Suzuki Motor Corporation acquired 2.84 lakh shares from September 8-9. The shares of Maruti Suzuki closed almost flat on Thursday. Hindustan Copper Hindustan Copper reported a 40% jump in its consolidated net profit to ₹29.8 crore for the first quarter ended June 30. The company’s revenue increased 41.9% to ₹431.4 crore. The shares of Hindustan Copper closed 3% higher on September 10. Yes Bank Yes Bank said it has fully repaid the ₹50,000 crore provided by RBI as a special liquidity facility (SLF) amid the crisis faced by the lender earlier this year. The shares of Yes Bank closed 2.20% higher on September 10. BHEL, IRCTC, Rail Vikas Nigam and Adani Green Energy These companies are slated to report their first quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/retail/news/indias-largest-company-reliance-industries-has-reportedly-offered-amazon-a-40-stake-in-its-retail-arm-for-20-billion/articleshow/78041109.cms" data-type="tilCustomLink">India's largest company, Reliance Industries, has reportedly offered Amazon a 40% stake in its retail arm for $20 billion</a> <a href="https://www.businessinsider.in/finance/news/citigroup-ceo-michael-corbat-announces-plans-to-retire-hell-be-replaced-by-the-banks-consumer-chief-jane-fraser-/articleshow/78040520.cms" data-type="tilCustomLink">Wall Street shatters a glass ceiling as Jane Fraser is announced as Citigroup's new CEO, becoming the first woman to lead a major US bank</a>

Top stocks to watch— RIL, Future Retail, Bank of Baroda, Yes Bank, HAL, Info Edge, Maruti Suzuki, IRCTC, BHEL, HAL, Rail Vikas Nigam and more

<ul><li>The Indian government has pushed through a stack of defence projects to the tune of $1.2 billion on August</li><li>This comes after the Defence Acquisition Council (DAC) had already approved arms projects worth $5.5 billion last month. </li><li>The biggest beneficiary, <keyword id="86569" type="COMPANY" weightage="20" keywordseo="Hindustan-Aeronautics-Limited">Hindustan Aeronautics Limited</keyword> (HAL), saw its share price jump by over 4% as markets opening today morning. </li><li>The entire $1.2 billion will be spent on the domestic industry with companies like Hindustan Aeronautics Limited (HAL) and <keyword id="534703" type="COMPANY" weightage="20" keywordseo="Bharat-Heavy-Electricals-Limited">Bharat Heavy Electricals Limited</keyword> (BHEL) reaping the benefits.</li></ul>India is spending another ₹8.7 lakh crore ($1.2 billion) on defence projects after having already having approved ₹38.9 lakh crore ($5.5 billion) for arms projects last month. <div type="Article" hostid="261" msid="77098939" title="New drones, Rafale fighter jets, tanks and much more — India-China border dispute has lit a fire to upgrade military technology" mstype="2" mssubtype="0"></div> Last time around the lion’s share of the capital— around ₹31.1 lakh crore ($4.44 billion) — was directed towards the domestic industry. This time the entire amount is going to local manufacturers like Hindustan Aeronautics Limited (HAL) and Bharat Heavy Electricals Limited (BHEL). HAL's share price saw a jump over 4% as markets opened today morning. <div type="image" title="HAL share price" msid="77497628" hostid="261" caption="&amp;lt;p&amp;gt;HAL&amp;#39;s share price since July&amp;lt;/p&amp;gt;"></div> BHEL's share price on the other hand remained muted showing a marginal uptake of over 1%. <div type="image" title="BHEL share price since July" msid="77497651" hostid="261" caption="&amp;lt;p&amp;gt;BHEL share price since July&amp;lt;/p&amp;gt;"></div> The projects approved by the Defence Acquisition Council (<a href="https://pib.gov.in/PressReleseDetail.aspx?PRID=1645092">DAC</a>) in its meeting today headed by India’s Defence Minister Rajnath Singh include new aircraft, more firepower for the <keyword id="6355100" type="ORGANIZATION" weightage="20" keywordseo="Indian-Navy">Indian Navy</keyword>, as well as approvals that will speed the procurement and upgrades of unmanned aerial vehicles (UAVs). The <keyword id="15141" type="ORGANIZATION" weightage="20" keywordseo="Indian-Air-Force">Indian Air Force</keyword> (IAF) needs more eyes in the sky In July, the DAC approved the proposal to procure 21 new MiG-29 aircraft along with upgrading the existing 59 already enlisted with the Air Force. It also sanctioned buying 12 new Sukhoi-20 MK I aircraft. Pushing on the narrative of Athmanibhar Bharat, self-reliant India, the government has put an order for 106 of the newly developed Basic Trainer Aircraft from HAL. Initially, 70 of these jets will be inducted to meet the IAF’s training requirements once they receive the required certification. The remaining 36 will be picked up once the HTT-40 fleet — another trainer aircraft that HAL invested ₹550 crore to develop — is operational. Increasing the Indian Navy’s firepower Other than, the primary beneficiary of the DAC’s project approval is BHEL. The government has approved the procurement of an upgraded version of the Super Rapid Gun Mount (SRGM). It is the main fun onboard Navy and Indian Coast Guard warships. According to the government, the upgraded version of the SRGM will increase the capabilities of the warships to manoeuvre against fast-moving targets like missiles. It will also enhance the engagement range of the guns. The <keyword id="6354416" type="ORGANIZATION" weightage="20" keywordseo="Indian-Army">Indian Army</keyword> won’t be left out of the fray. It will be getting new 125 mm Armour Piercing Fin Stabilised Discarding Sabot (APFSDS) ammunition. 70% of the product will be made in India and the ammunition will be brought in under a ‘design and development case’. Other approvals are aimed at speeding up the procurement of Indo-Russian AK 203 guns and push through faster upgrades for UAVs. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/tcs-tech-mahindra-hcl-tech-and-wipro-could-gain-from/articleshow/77478306.cms">India's armed forces are potential clients for TCS, Tech Mahindra, HCL Tech and the likes</a> <a href="https://www.businessinsider.in/defense/news/heres-a-full-list-of-weapons-that-indias-defence-sector-can-get-from-local-companies/slidelist/77459796.cms">List of weapons that India can make at home — and the ones it cannot</a> <a href="https://www.businessinsider.in/defense/news/indias-defence-ministry-introduces-import-embargo-on-101-items-to-boost-atmanirbhar-bharat-abhiyan/articleshow/77442031.cms">India’s Defence Ministry introduces “import embargo” on 101 items to boost Atmanirbhar Bharat Abhiyan</a>

HAL's share price jumps 4% after India approves defence projects worth $1.2 billion

<ul><li>The 30-share BSE index was trading 0.88% higher, while the Nifty50 rose 89.15 points.</li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex jumped over 300 points in early trade on Monday tracking cues from Asian peers and fresh foreign fund inflow. The 30-share BSE index was trading 0.88% higher, while the Nifty50 rose 89.15 points. These were the top losers and gainers in the Nifty pack: <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;">Top Nifty Gainers </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;">Top Nifty Losers </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;">HCL Tech </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;">Asian Paints </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;">Tech Mahindra </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;">HDFC Life </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;">Infosys </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;">Bajaj Finance </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;">Tata Motors </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;">BPCL </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;">TCS </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;">Hero MotoCorp </td></tr></tbody></table>*as of September 14, 9:50 am These are the top stocks that are buzzing in trade today: HCL Technologies gains 6% HCL Tech advanced 6% post-mid-quarter<a href="https://archives.nseindia.com/corporate/HCLTECH_14092020081946_HCLTechMidquarterUpdate.pdf"> update to stock-exchanges</a>. The company said it expects the revenue and the operating margin for the current quarter to be meaningfully better than the top end of the guidance it had provided in July 2020. TCS’ market cap touches ₹9 trillion-mark The shares of TCS gained 2% on September 14, making the company’s market cap exceed ₹9 trillion-mark for the first time in the stock history. The rally was led by the gains in the IT stocks. Wipro up over 2% The shares of Wipro Limited were trading 2% higher during the early trade hours on Monday after <a href="https://archives.nseindia.com/corporate/WIPRO_14092020080043_Press_release14092020.pdf">it announced its partnership with ProcessMaker, a US-based software company</a>. The company said, “this collaboration will leverage Wipro’s proprietary technology platform iCaaS (Intelligent Content as a Service) along with ProcessMaker’s Workflow automation platform to deliver Cognitive Content Automation solutions to customers.” RIL shares surge 2% amid news reports of stake sale Mukesh Ambani owned RIL shares gained 2% on the back of n<a href="https://www.livemint.com/companies/news/carlyle-may-pick-up-2-billion-stake-in-ril-s-retail-arm-11600042534910.html">ews reports</a> that Carlyle Group is looking to invest $1.5-2 billion to buy a stake in its retail arm, Reliance Retail. IRCTC lost 1% soon after the market opened IRCTC shares lost nearly 1% during the early hours of trading. The company that runs the operations for Indian Railways reported a net loss of ₹24.6 crore for the quarter ended June 30. The company’s overall revenue was down 71.4% to ₹ 131.3 crores compared to the same period last year. Yes Bank advances 4% The shares of Yes Bank gained 4% after the credit rating agency ICRA upgraded its ratings assigned to various debt instruments of the private lender on Friday. Adani Green locked in 5% upper circuit Adani Green shares gained 5% after the CEO told investors in a concall that Adani Green’s deal to buy Essel’s Solar assets is in its final stages, and the company is seeking $1.8 billion to build projects. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-future-retail-ril-irctc-bhel-tata-motors-adani-green-vodafone-idea-godrej-properties-sunteck-realty-and-more/articleshow/78097615.cms" data-type="tilCustomLink">Top stocks to watch— Future Retail, RIL, IRCTC, BHEL, Tata Motors, Adani Green, Vodafone Idea, Godrej Properties, Sunteck Realty and more</a> <a href="https://www.businessinsider.in/tech/news/tiktok-owner-bytedance-rejected-microsofts-offer-for-the-apps-us-operations/articleshow/78097018.cms" data-type="tilCustomLink">TikTok owner ByteDance rejected Microsoft's bid for the app's US operations, Oracle reportedly chosen as US 'technology partner'</a>

Top stock movers — HCL, Wipro, TCS, Tech Mahindra, RIL, IRCTC, Yes Bank, Adani Green and more

<ul><li><keyword id="6426359" type="COMPANY" weightage="20" keywordseo="pnb-housing-finance">PNB Housing Finance</keyword>’s share price has skyrocketed over the last 10 trading days. </li><li>Every ₹10,000 invested in the stock on May 25 is now worth ₹22,000 as on June 7, 2021. </li><li>However, the potential upside could be limited from the current share price. </li></ul>Shares of PNB Housing Finance have hit the upper circuit six days in a row, more than doubling investor wealth. Had an investor put in ₹10,000 in the stock on May 25, 2021, it would be worth nearly ₹22,000 today. The incessant rally in PNB Housing Finance’s shares was triggered by the news of former <keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword> chief executive officer (CEO) <keyword id="6406769" type="LOCATION" weightage="20" keywordseo="aditya-puri">Aditya Puri</keyword> and US-based private equity firm The <keyword id="44803" type="COMPANY" weightage="20" keywordseo="Carlyle-group">Carlyle Group</keyword> investing in the non-banking lender. <div type="Article" hostid="261" msid="83105948" title="Former HDFC Bank CEO Aditya Puri and Carlyle will be among the new owners of PNB Housing Finance triggering an open offer" mstype="2" mssubtype="0"></div> <div type="image" title="PNB Housing Finance 25_05_21 to 07_06_21." msid="83306222" hostid="261" caption="&amp;lt;p&amp;gt;PNB Housing Finance share price&amp;lt;/p&amp;gt;"></div> Over the last 10 trading sessions, the non-banking lender’s share price has surged by over 118%. The company’s shares have been locked in the upper circuit for the last six consecutive days. But the upside could be limited, according to Kranthi Bathini, director of equity strategy at WealthMills Securities. “There has been a sharp run-up in the share price of PNB Housing Finance over the last few trading sessions. This could mean the potential upside now is limited,” Bathini told Business Insider. “The recent investment news has turned it into a momentum stock. The rally in share prices of such stocks is driven by news, and not necessarily the technicals and fundamentals,” he further added, linking the sharp rally in PNB Housing Finance’s share price to the ₹4,000 crore fundraising news. According to the company’s exchange filing, private equity giant The Carlyle Group will contribute to 80% of the ₹4,000 crore capital raise. The other prominent name in the fundraise is Aditya Puri’s Salisbury Investments. Puri is the former CEO and MD of HDFC Bank, India’s largest private sector bank, which also owns the country’s largest private mortgage lender HDFC. The company noted in its exchange filing that the primary objective of the fundraise is to augment capital adequacy, reduce the ratio of debt to equity and fund its growth objectives in the retail lending segment. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/former-hdfc-bank-ceo-aditya-puri-and-carlyle-will-be-among-the-new-owners-of-pnb-housing-finance-triggering-an-open-offer/articleshow/83105948.cms">Former HDFC Bank CEO Aditya Puri and Carlyle will be among the new owners of PNB Housing Finance triggering an open offer</a> <a href="https://www.businessinsider.in/stock-market/news/from-bhel-to-heg-and-cg-power-these-infrastructure-stocks-have-turned-10000-to-as-much-as-30600-in-just-six-months/slidelist/83104471.cms">From BHEL to HEG and CG Power ⁠— these infrastructure stocks have turned ₹10,000 to as much as ₹30,600 in just six months</a> <a href="https://www.businessinsider.in/business/startups/news/online-broker-zerodhas-valuation-has-doubled-from-1-billion-to-2-billion-within-a-years-time/articleshow/83037425.cms">Zerodha doubles its valuation to $2 billion within a year as millennials plough India’s stock markets</a>

PNB Housing Finance shares hit upper circuit six days in a row, but the potential upside could be limited now

<ul><li><keyword id="6426359" type="COMPANY" weightage="20" keywordseo="pnb-housing-finance">PNB Housing Finance</keyword> has announced a fundraise of ₹4,000 crore.</li><li>The fundraising will be led by The <keyword id="44803" type="COMPANY" weightage="20" keywordseo="Carlyle-group">Carlyle Group</keyword> and former <keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword> CEO <keyword id="6406769" type="COMPANY" weightage="20" keywordseo="aditya-puri">Aditya Puri</keyword>.</li><li>Shares of PNB Housing Finance hit the 20% upper circuit, reacting to the news.</li></ul>The board of non-banking lender PNB Housing Finance has approved a fundraising of ₹4,000 crore. Former HDFC Bank chief executive officer (CEO) Aditya Puri and US-based private equity firm The Carlyle Group have emerged as the leading investors. The government-owned Punjab National Bank (PNB), which owns a little over 32% stake right now, will continue to be a promoter and a key stakeholder of the company. PNB Housing Finance said each of QIH, Pluto and Salisbury Investments will be classified as part of the “promoter group” of the company, following the completion of the transactions under Pluto SSA and Salisbury SSA, respectively. Reacting to the news, shares of PNB Housing Finance went through the roof, hitting an upper circuit of 20% at around 10:10 am. <div type="image" title="PNB Housing Finance 15_04_21 to 31_05_21." msid="83106098" hostid="261" caption="&amp;lt;p&amp;gt;PNB Housing Finance share price&amp;lt;/p&amp;gt;"></div> According to the company’s exchange filing, private equity giant The Carlyle Group, will contribute to 80% of the ₹4,000 crore capital raise. The other prominent name in the fundraise is Aditya Puri’s Salisbury Investments. Puri is the former CEO and MD of HDFC Bank, India’s largest private sector bank, which also owns the country’s largest private mortgage lender HDFC. The company notes in its exchange filing that the primary objective of the fundraise is to augment the capital adequacy, reduce the ratio of debt to equity and fund its growth objectives in the retail lending segment. The equity issue is priced at ₹390 per share, which is a discount of nearly 11% over the previous closing price. This has triggered an open offer for acquisition of over 70 million shares, representing 26% of the company’s existing equity shares. The open offer price is quoted at ₹403.22 per share, which is at a discount of nearly 8% over the previous closing price. <cmsannotation type="cmsannotation" annotationid="Fundraising has been long overdue" comment="subhead" text="Fundraising has been long overdue">Fundraising has been long overdue</cmsannotation> The fundraising announcement is long overdue for the lender. Back in November 2020, the company had announced a fundraise of ₹1,800 crore via a preferential issue of shares. However, its plans were derailed as its parent Punjab National Bank was not permitted by the Reserve Bank of India to pour in the capital into its lending subsidiary. Later, in an analyst call in April 2021, PNB Housing Finance’s CEO and MD, Hardayal Prasad, said that the company is evaluating its options. “As you are aware that we were waiting for the capital raise with participation of PNB and ₹600 crore was earmarked since then. But after, the permission was not given. So, we have initiated the process of evaluating all options and modes for the fundraise,” said Prasad. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/from-bhel-to-heg-and-cg-power-these-infrastructure-stocks-have-turned-10000-to-as-much-as-30600-in-just-six-months/slidelist/83104471.cms">From BHEL to HEG and CG Power ⁠— these infrastructure stocks have turned ₹10,000 to as much as ₹30,600 in just six months</a> <a href="https://www.businessinsider.in/business/startups/news/online-broker-zerodhas-valuation-has-doubled-from-1-billion-to-2-billion-within-a-years-time/articleshow/83037425.cms">Zerodha doubles its valuation to $2 billion within a year as millennials plough India’s stock markets</a>

Former HDFC Bank CEO Aditya Puri and Carlyle will be among the new owners of PNB Housing Finance triggering an open offer

Sensex sees 2 weeks of gain wiped out in half a day – plunges by over 1,400 points

<ul><li>Private equity giants like <keyword id="6354544" type="UNKNOWN" weightage="20" keywordseo="kkr">KKR</keyword>, the <keyword id="44803" type="CITY" weightage="20" keywordseo="Carlyle-group">Carlyle group</keyword> and others are interested in acquiring a controlling stake in <keyword id="148835" type="COMPANY" weightage="20" keywordseo="JB-Chemicals">JB Chemicals</keyword>, a little-known pharma company in India.</li><li>Although JB Chemicals is a small player in the Indian pharma industry, it has built four strong brands and has market leadership in three of them, which has resulted in industry-beating growth.</li><li>Some of the popular brands that JB Chemicals owns include Metrogyl, Rantac, Cilacar and Nicardia – driving 80-85% of the company’s India formulations revenue.</li></ul>JB Chemicals, a little-known pharma company in India with a market capitalization of ₹4,600 crore is reportedly on the radar of private equity giants around the world. This has sent the stock to an all-time high of ₹621 in intra-day trade. JB Chemicals is a relatively small player when it comes to the Indian pharmaceutical industry, behind giants like Sun Pharma, Dr Reddy’s and others. However, its inexpensive valuation, strong growth and a healthy balance sheet have private equity giants interested in it. <div type="Article" hostid="261" msid="75425845" title="IRCTC share price has jumped 30% in April so far despite the lockdown that’s halted trains, ticketing, and even Rail Neer sales" mstype="2" mssubtype="0"></div> According to a <a href="https://economictimes.indiatimes.com/markets/stocks/news/jb-chemicals-jumps-5-as-four-pe-firms-in-race-to-acquire-promoter-stake/articleshow/75569688.cms">report</a> by Economic Times, global private equity players KKR, the Carlyle group, Apax Partners and PAG are interested in acquiring a controlling stake in JB Chemicals. Its promoters, Jyotindra Bhagawanlal Mody and family are said to be in talks to sell their 56% stake in the company. The acquisition is valued at ₹5,000 crore ($650 million), which is 9% higher than JB Chemicals’ current market cap of ₹4,600 crore ($600 million). The news has sent the company’s stock rallying, hitting an all-time high of ₹621 before closing at ₹603 on Wednesday, May 6. <div type="image" title="JB Chemicals stock" msid="75574593" hostid="261"></div> Here’s what makes JB Chemicals an attractive acquisition Inexpensive valuation and healthy free cash flows The company’s valuation at ₹5,000 crore is inexpensive, according to a report by market research firm IIFL Securities dated January 17, 2020. Apart from this, it also has healthy free cash flows, which make up 22% of the company’s balance sheet. Since then, the valuation has only gone down as the share price cracked in the coronavirus carnage. Four strong brands with market leadership in three of them <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top 4 brands </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Other products </td></tr><tr><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY16 </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">85% </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY17 </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">86% </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr><tr><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY18 </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">86% </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr><tr><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">86% </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr></tbody></table> Instead of spreading itself thin with several products, JB Chemicals has focused on building a few large brands like Cilacar, Rantac, Metrogyl and Nicardia. Out of these, it has market leadership in three, which together account for 80-85% of the company’s revenue. Focusing on these core brands has also helped JB clock in growth of 17-22% over the last two years. Out of these, Cilacar and Nicardia, the two cardiovascular brands, have grown by more than 20% in the past four years. Outperforming industry growth in the past seven years JB Chemicals’ focus on building strong brands in the cardiovascular and gastrointestinal segments has helped it outperform industry growth for seven years straight. “This outperformance vs. the industry has been driven by increasing exposure to chronic therapies, as contribution of chronic products in the company’s India revenue mix has expanded from 29% in 2016 to 42% in 2019,” says a report by IIFL Securities. See also: <a href="https://www.businessinsider.in/stock-market/news/airtel-shares-set-for-a-catch-up-rally-after-reliance-jio-takes-a-huge-valuation-lead/articleshow/75533860.cms">Airtel shares set for a catch up rally after Reliance Jio takes a huge valuation lead</a> <a href="https://www.businessinsider.in/business/news/the-way-bhel-is-trying-to-turn-the-tide-is-a-sign-of-how-india-wants-to-capitalise-on-us-china-tensions/articleshow/75548309.cms">The way BHEL is trying to turn the tide is a sign of how India wants to capitalise on US-China tensions</a> <a href="https://www.businessinsider.in/finance/news/irctc-share-price-has-jumped-30-in-april-so-far-despite-the-lockdown-thats-halted-trains-ticketing-and-even-rail-neer-sales/articleshow/75425845.cms">IRCTC share price has jumped 30% in April so far despite the lockdown that’s halted trains, ticketing, and even Rail Neer sales</a>

JB Chemicals, a little-known pharma company in India is now on the radar of private equity giants around the world – here’s why

India's benchmark indices hit fresh all-time intraday high today in a tepid session. 
 
At 02:20 p.m.; the 50-share index was at 6,588.65, up 5.15 points, or 0.08 per cent. It touched an all-time intraday high of 6,595.45 and a low of 6,544.85 in trade today. 
 The S&amp;P BSE <keyword id="6484188" type="CITY" weightage="40" keywordseo="Sensex">Sensex</keyword> was at 22,061.36, up 5.88 points or 0.03 per cent. It touched an all-time high of 22,079.96 and a low of 21,916.87 in trade today. 
 Stock market analysts are all fervent about the fact that the current market rally is being driven on hopes of a stable government post coming elections, but <keyword id="6355261" type="POSITION" weightage="40" keywordseo="Finance-minister">Finance Minister</keyword> <keyword id="43940" type="PERSON" weightage="40" keywordseo="P-Chidambaram">P Chidambaram</keyword> finds this amusing. 
 
"I am amused to read in some sections of the media that it is the 'hope' of a stable government that is bringing in investments and driving up the capital market and the value of the rupee," the finance minister was quoted as saying by PTI. 
 "It's not 'hope', but the 'fact' of a stable government provided by the UPA and the numerous measures taken in the last 18 months that have provided stability and strength to the <keyword id="6356076" type="UNKNOWN" weightage="40" keywordseo="indian-economy">Indian economy</keyword>," he said. 
 
Chidambaram said this on a campaign rally in support of his son Karti in Sivaganga, Tamil Nadu. 
 
"If there is any hope that is driving the market, I believe it is the hope that the new government will follow the 10-point agenda that I had spelt out in my Interim Budget speech on 17.2.2014". 
 
"I can assure the people and the investors that a Congress-led government will faithfully implement the ten-point agenda". 
 Talkign about the recent market rally, William De Vijlder, CIO-Strategy, BNP Paribas Investment Partners told ET Now: "Ever since there was talk that Mr <keyword id="6354642" type="PERSON" weightage="40" keywordseo="Modi">Modi</keyword> would play a key role in the political landscape going forward in India, of course the market has reacted to that positively. So, I can only say that there has been quite a bit of anticipation already and that means that if he comes out of the elections as a strong man, then the first 100 days, the honeymoon days, will be very important.” 
 
“What will be absolutely crucial in an environment where there has been a lot of anticipation already, is that the decisions which are announced and measures which are taken, they are sufficiently ambitious and also credible,” he added. 
 
"Since last July, day upon day, polls have been suggesting a stable government at the Centre and added has added to the market momentum besides other factors ... we expect this rally to continue for some more time till the elections are due. So, anything in the range of 6,900 is what we expect," Ravi Muthukrishnan, ICICI Securities, told ET Now today. 
 
Says Sudip Bandyopadhyay, President, Destimoney Securities, "there is an expectation of a stable government after a long-long time which people are expecting will deliver the goods, but there are still some uncertainties in the horizon." 
 
LKP Securities said in a note today: "with the general expectations of a stable government, the rally has legs of improvement." 
 
The S&amp;P BSE Midcap Index was up 0.57 per cent and the S&amp;P BSE Smallcap Index was 0.14 per cent higher. 
 
Among the sectoral indices, the S&amp;P BSE Capital goods Index was up 1.35 per cent, the S&amp;P BSE Power Index advanced 1.79 per cent and the S&amp;P BSE Bankex Index was 0.50 per cent higher. 
 
The S&amp;P BSE Oil &amp; gas Index fell 1.78 per cent, the S&amp;P BSE IT Index was 0.49 per cent lower and the S&amp;P BSE Healthcare Index slipped 0.02 per cent. 
 Shares of Reliance Industries were and ONGC under pressure after the Election Commission asked the <keyword id="46040" type="ORGANIZATION" weightage="40" keywordseo="Oil-ministry">Oil Ministry</keyword> to defer the increase in gas prices that was to take effect from April 1, saying that the decision should be left to the government that's formed after the general election, with the Aam Aadmi Party's <keyword id="260213" type="PERSON" weightage="40" keywordseo="Arvind-Kejriwal">Arvind Kejriwal</keyword> taking credit for the move. 
 
The decision will put consumers and producers such as Reliance Industries and ONGC in a quandary because the hike has been stalled after the oil ministry's notification that the new rates would apply from the start of next month. 
 <keyword id="6354446" type="CITY" weightage="40" keywordseo="BHEL">BHEL</keyword> (up 3.99 per cent), Hero MotoCorp (up 2.35 per cent), HDFC (up 1.32 per cent), <keyword id="6357147" type="CITY" weightage="40" keywordseo="Tata-Steel">Tata Steel</keyword> (up 1.31 per cent) and <keyword id="42747" type="CITY" weightage="40" keywordseo="Tata-Motors">Tata Motors</keyword> (up 1.31 per cent) were among the major Sensex gainers. 
 Reliance Industries (2.87 per cent), ONGC (1.76 per cent), <keyword id="10862" type="CITY" weightage="40" keywordseo="Wipro">Wipro</keyword> (1.66 per cent), Sesa Sterlite (1.12 per cent) and Dr Reddy’s Laboratories (0.77 per cent) were among the index losers. 
 
The market breadth was negative on the BSE with 1148 gainers against 1605 losers. 
 Foreign institutional investors bought shares worth Rs 1465.62 crore while domestic institutional investors were net sellers worth Rs 770.39 croreon Monday as per the provisional data from the <keyword id="53581" type="CITY" weightage="40" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword>.

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