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<ul><li>In the Asian market, the SGX Nifty was trading 0.38% lower at 7:49 am, indicating a lower start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst negative cues from the global markets, the Indian equities are likely to open in red on Wednesday. In the Asian market, the SGX Nifty was trading 0.38% lower at 7:49 am, indicating a lower start for Nifty50. The US stocks ended lower on Tuesday as investors digested a slew of earnings reports. The Dow Jones Industrial Average closed 0.55% lower, whereas the S&amp;P 500 lost over 22.29 points. These are the stocks to watch out for during the trading session on October 14: Future Enterprises Kishore Biyani led Future Group entity; Future Enterprises defaulted on a payment of the interest on Non-Convertible Debentures with ₹15.14 crore. The due date for fulfilling the interest was October 12. This may move stocks of other Future Group entities like Future Retail, Future Lifestyle Fashion, Future Consumer, among others. The shares of Future Enterprises ended 2% lower, whereas Future Retail, Future Lifestyle Fashion, and Future Consumer were up 7%, 4% and 2%, respectively. Wipro The IT services giant Wipro posted a <a href="https://www.businessinsider.in/business/corporates/news/wipro-posts-stable-quarter-profit-rises-3-2-with-revenue-guidance-of-1-5-to-3-5-over-the-next-three-months/articleshow/78640025.cms">stable quarter </a>with a 3.2% rise in profit and has guided for a 1.5-3.5% revenue growth in Q3. The board has also approved a <a href="https://www.businessinsider.in/business/corporates/news/wipro-board-approves-9500-crore-share-buyback-plan/articleshow/78638511.cms">buyback plan</a> up to ₹9,500 crore at ₹400 per share. The shares of Wipro ended 0.61% higher yesterday. Infosys Also, watch out for the IT major Infosys stocks — the company is scheduled to report its second-quarterly earnings. Investors are watching out for a <a href="https://www.businessinsider.in/business/corporates/news/infosys-announce-second-quarter-earnings-on-october-14/articleshow/78640964.cms">guidance revision </a>on the higher side. The shares of Infosys ended 3% higher yesterday. Bharti Airtel The telco giant Bharti Airtel Group entities moved to the Supreme Court challenging the National Company Law Appellate Tribunal (NCLAT) order directing them to pay more than ₹100 crore to Aircel. The shares of Bharti Airtel ended 0.23% higher yesterday. IRCTC The Indian Railways operator Indian Railway Catering and Tourism Corporation (IRCTC) announced the completion of tenure of Comal Ramachandran Sundaramurti as an Independent Director on the Board. The shares of IRCTC ended 0.18% higher yesterday. SRF Limited The specialty chemicals manufacturing company SRF’s Qualified Institutional Placement (QIP) committee is scheduled to meet on October 16 to decide the issue price. The shares of SRF Limited ended 0.16% higher yesterday. NTPC Limited The company announced its plans to raise ₹4,000 crore via the issue of Non-Convertible Debentures. The shares of NTPC Limited ended 0.12% higher yesterday. Adani Green The Competition Commission of India (CCI) has approved the acquisition of various solar energy assets by a joint venture of Adani Energy and Total Solar. The shares of Adani Green ended 5% higher yesterday. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/apple-new-iphone-12-series-with-5g-launched-starting-at-rs-69999-along-with-side-homepod-mini-debut/articleshow/78647779.cms" data-type="tilCustomLink">Apple's new iPhone 12 series with 5G launched starting at ₹ 69,999 along with HomePod Mini debut</a> <a href="https://www.businessinsider.in/tech/news/apple-just-revealed-the-magsafe-charger-a-brand-new-wireless-charging-pad-for-iphone/articleshow/78647415.cms" data-type="tilCustomLink">Apple just revealed the $40 MagSafe charger, a brand new wireless charging pad for iPhone 12</a>

Top stocks to watch — Wipro, Infosys, Future Retail, Airtel, IRCTC, SRF, and others

The collapse of Evergrande, one of China’s largest home developers, is “not a Lehman moment” but the fear may haunt steel and metal stocks in India

<ul><li>At 7:40 am, the SGX Nifty was up 0.50%, indicating a positive 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 indices are likely to have a slow start on Tuesday, led by mixed cues from the global markets. At 7:40 am, the SGX Nifty was up 0.50%, indicating a positive start for Nifty50. However, on Monday, the US stocks ended low as investors booked profits following a sharp rally in recent weeks that led to the benchmark’s best November ever. The Dow Jones Industrial Average closed 271 points lower, and the S&amp;P 500 was down 0.46%. These are the stocks to watch out for during the trading session today: Dr Reddy’s Laboratories Dr Reddy’s Laboratories inked a pact with Glenmark Pharmaceuticals to acquire its select anti-allergy brands in Russia, Ukraine, Kazakhstan and Uzbekistan. The acquired brands represent two types of products — mometasone mono-product and combination of mometasone with azelastine, which is indicated for the treatment of seasonal and perennial allergic rhinitis, it added. The company, however, did not disclose financial details. Indiabulls Housing Finance Indiabulls Housing Finance further sold a portion of its stake in OakNorth Holdings to raise approximately ₹93 crore. Hindustan Construction Company Hindustan Construction Company (HCC), in a joint venture with Vensar Constructions Company (VCCL), has received two separate contracts worth ₹236 crore from the Northeast Frontier Railway for the construction of single line BG tunnels Lot 14A and Lot 15A on a 51.38-km long Bairabi-Sairang New BG Rail line in Manipur. M&amp;M, Tata Motors, Bajaj Auto, Maruti Suzuki, TVS Motor, Hero MotoCorp and other auto stocks M&amp;M, Tata Motors, Bajaj Auto, Maruti Suzuki, TVS Motor, Hero MotoCorp and other auto stocks will be in focus during the trade today. The companies are slated to report their November sales data today, and according to <a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-in-november-car-bike-sales/articleshow/79489474.cms">Nirmal Bang estimates, </a>a strong show is expected led by strong festive demand. TVS Motor TVS Motor is set to acquire 100% stake in advanced fleet management solutions provider Intellicar Telematics for a cash consideration of ₹15 crore. SRF SRF’s resin plant, set-up in Thailand by its wholly-owned subsidiary has been commissioned and capitalised at the cost of $19 million. Premier Explosives Premier Explosives has bagged a contract worth ₹14 crore from Ministry of Defence for the supply of 26 mm Chaffs. Punjab National Bank Punjab National Bank’s base rate cut by 15 basis points to 8.65% from 8.8%, effective from December 1. Future Consumer Bennett, Coleman &amp; Company Limited (BCCL) reduced its stake in Future Consumer to 4.25% from 6.33% via open market transaction. Fortis Healthcare Aberdeen Standard Investments Ltd increased its stake in Fortis Healthcare to 5.02% from 4.96% via open market purchases. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-in-november-car-bike-sales/articleshow/79489474.cms" data-type="tilCustomLink"> November auto sales estimates — Here’s what to expect from Maruti, M&amp;M, Hero, Bajaj Auto, and other automakers</a> <a href="https://www.businessinsider.in/india/news/centre-invites-agitating-farmer-unions-for-talks-on-december-1-two-days-ahead-of-a-scheduled-meeting/articleshow/79502391.cms" data-type="tilCustomLink">Centre invites agitating farmer unions for talks on December 1, two days ahead of a scheduled meeting</a>

Top stocks to watch — Dr Reddy’s, Indiabulls Housing, M&M, Tata Motors, Bajaj Auto, Maruti, Hero Moto, PNB, and others

<ul><li>The 30-share BSE index Sensex was down 261.92 points, and the NSE Nifty was trading 0.75% lower at 10:10 am. </li><li>Here’s a list of 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 indices Sensex and Nifty opened on a tepid note on Wednesday, tracking losses in index-heavyweights like HDFC Bank, ICICI Bank, and ITC amid weak cues from global markets. The 30-share BSE index Sensex was down 261.92 points, and the NSE Nifty was trading 0.75% lower at 10:10 am. Here’s a list of 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;">Titan </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;">Wipro </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 Steel </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;">Coal India </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;">Bajaj Fin Serv </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;">NTPC </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;">Hero MotoCorp </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;">ONGC </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;">Bajaj Auto </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;">IOC </td></tr></tbody></table>*as of October 14, 10:00 am These are the top stocks in news today. Future Enterprises crash 5% Kishore Biyani led Future Enterprises shares crashed 5% during the early trading hours on Wednesday. The company informed investors that it defaulted on a payment of the interest on Non-Convertible Debentures worth ₹15.14 crore. The due date for fulfilling the interest was October 12. This also moved other Future Group stocks — Future Retail and Future Lifestyle Fashion and Future Consumer were down 3%. Wipro down 6% The shares of IT major Wipro were down 6% after it reported a 3.40% year-on-year (YoY) decline in consolidated net profit at ₹2,465.70 crore for the quarter ended September 30. The company also approved buyback of shares worth ₹9,500 crore at a floor price of ₹400 per equity share. Brokerages tread caution as they see a limited upside in the stock. SBI Cards shares climb 3% after festive season offer The shares of SBI Cards and Payment Services jumped over 3% after the company unveiled over 1,000 new offers spread across the country ahead of the festive season. The offers will be available for SBI cardholders till November 1. Karnataka Bank up over 3% The shares of India's twelfth largest private sector bank, Karnataka Bank were trading 3% higher after it reported 12.78% growth in its net profit to ₹119.44 crore for the quarter ended September 30. NTPC down 3% The shares of government-owned National Thermal Power Corporation (NTPC) were trading 3% lower after it announced plans to raise ₹4,000 crore via the issue of Non-Convertible Debentures. Adani Green gains 3% The shares of Adani Green were up 3% after the Competition Commission of India (CCI) approved the acquisition of various solar energy assets by a joint venture of Adani Energy and Total Solar. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-wipro-infosys-future-retail-airtel-irctc-srf-and-others/articleshow/78651966.cms" data-type="tilCustomLink">Top stocks to watch — Wipro, Infosys, Future Retail, Airtel, IRCTC, SRF, and others</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-new-iphone-12-series-with-5g-launched-starting-at-rs-69999-along-with-side-homepod-mini-debut/articleshow/78647779.cms" data-type="tilCustomLink">Apple's new iPhone 12 series with 5G launched starting at ₹ 69,999 along with HomePod Mini debut</a> <a href="https://www.businessinsider.in/science/news/a-spacecraft-flying-by-venus-on-wednesday-night-could-confirm-recently-found-signs-of-alien-life/articleshow/78646790.cms" data-type="tilCustomLink">A spacecraft flying by Venus on Wednesday night could confirm recently found signs of alien life</a>

Top stock movers — Wipro, Future Retail, SBI Cards, NTPC, Adani Green and others

<ul><li>The SGX Nifty was trading 0.04% lower at 7:51 am, indicating a flat start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst mixed cues from the global markets, the Indian stock market is likely to open with a negative bias on Tuesday. The SGX Nifty was trading 0.04% lower at 7:51 am, indicating a flat start for Nifty50. Whereas, the US stocks ended the Monday higher as the tech stocks rallied amid the stimulus hopes. The Dow Jones Industrial Average closed 250.62 points higher; whereas the S&amp;P 500 was up over 1.6%. These are the stocks to watch out for during the trading session on October 13: Lakshmi Vilas Bank The private lender Lakshmi Vilas Bank (LVB) informed stock-exchanges that its board would meet on October 15 to consider a rights issue to raise capital up to ₹1,000 crore. The shares of Lakshmi Vilas Bank closed 5% lower yesterday. Reliance Industries The Mukesh-Ambani owned Reliance Jio became the first telecom company in India to cross 40 crore customers mark with the net addition of over 35 lakh subscribers in July, according to the telecom regulator TRAI data released on October 12. The shares of RIL closed 0.11% higher yesterday. Airtel and Vodafone The stocks of other telecom giants Airtel and Vodafone, will also remain in focus. As per the TRAI data, Vodafone Idea lost 3.7 million users, and Bharti Airtel added over 3.26 million wireless subscribers in July. The shares of Airtel and Vodafone closed nearly 3% lower yesterday. Infosys The IT giant Infosys has completed the acquisition of a US-based product design and development firm Kaleidoscope Innovation for about ₹308 crore. The company will also be posting its quarterly earnings tomorrow. The shares of Infosys closed 2.93% higher yesterday. SRF Limited The fluorochemicals, speciality chemicals manufacturing company SRF has set the floor price of its qualified institutional placement (QIP) at ₹4,168.73 per share. The shares of SRF Limited closed 2.67% higher yesterday. Shalby Multispeciality hospital chain Shalby reported a consolidated net profit of ₹24.5 crore in the second quarter ended September 30 compared to ₹12.9 crore year-on-year. However, the company’s overall revenue fell to ₹115.6 crore from ₹125.7 crore at the same time last year. The shares of Shalby closed 4% higher yesterday. Cipla The drug major Cipla said the company’s step-down associate firm Avenue Therapeutics Inc had received a complete response letter (CRL) from the US health regulator for its new drug application for intravenous tramadol. The letter stated that IV tramadol intended to treat patients in acute pain who require an opioid is not safe for the intended patient population. The shares of Cipla closed 1.81% higher yesterday. Wipro The tech giant Wipro is slated to announce its earnings for the second quarter ended September 30. The shares of Wipro closed 1.47% higher yesterday. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/johnson-johnson-just-paused-its-coronavirus-vaccine-trials-after-an-unexplained-illness-in-a-participant/articleshow/78630971.cms" data-type="tilCustomLink">Johnson &amp; Johnson just paused its coronavirus vaccine trials after an 'unexplained illness' in a participant</a> <a href="https://www.businessinsider.in/tech/news/the-iphone-12-could-be-apples-most-important-product-release-in-the-last-decade/articleshow/78627338.cms" data-type="tilCustomLink">The iPhone 12 could be Apple's most important product release in the past decade</a>

Top stocks to watch — RIL, Airtel, Vodafone-Idea, Infosys, Wipro, Shalby, Cipla, and others

<ul><li>Hindustan Petroleum (HPCL) shares gained over 7% after the oil refining and marketing giant approved the buyback of 10 crore shares.</li><li>The second-quarter net profit of HPCL more than doubled, led by the surge in refining margins and inventory gains</li><li>The gross sales revenue stood at ₹61,340 crore and was lower than ₹66,165 crore of Q2 of the previous financial year due to lower oil prices.</li></ul>The shares of Hindustan Petroleum (HPCL) gained over 7% after the oil refining and the marketing giant said that its board had approved a proposal to buyback up to 10 crore shares, representing 6.56% of paid-up equity capital of the company, at ₹250 per share. The buyback price represents a 33.88% premium over HPCL’s last closing price on Wednesday. In a regulatory filing on the BSE, HPCL said that the buyback remains at ₹2,500 crore, but the number of shares could be higher than maximum buyback shares (10 crore) if equity shares are bought below the maximum buyback price of ₹250. <div type="image" title="HPCL" msid="79055262" hostid="261"></div> Through the buyback, HPCL’s minority shareholders are looking to get rewarded. The company will finalise the details of the buyback in the next two days. Strong profit growth is the secondary driver The second-quarter net profit of HPCL more than doubled on the back of a surge in refining margins and inventory gains — which is again the other major reason behind HPCL stock rise today. Net profit in July-September came at ₹2,477 crore as compared to ₹1,052 crore a year back, HPCL Chairman and Managing Director Mukesh Kumar Surana told the media on a conference call. “The significant improvement in the profitability in spite of challenges including lockdown due to COVID-19 pandemic was a result of strategic planning in refinery and marketing operation, containing the degrowth to less than the industry, efficient inventory management and effective production placement,” he said. Cheaper crude oil contributed to strong growth The gross sales revenue stood at ₹61,340 crore and was lower than ₹66,165 crore of Q2 of the previous financial year due to lower oil prices. The firm earned $5.11 on turning every barrel of crude oil into fuel in the second quarter of 2020-21 fiscal as compared to a gross refining margin of $2.83 a barrel. This included a $2.33 per barrel inventory gain from buying cheaper crude oil earlier and processing in Q2. This translated into ₹1,780 crore of gain. Besides, the firm also had a forex gain of ₹524 crore, he said. The company said during the quarter, 303 new retail outlets were commissioned taking the total retail outlet network to 17,171 as of September 2020. HPCL also commissioned 37 new LPG distributorships during the quarter, taking the total LPG distributorships to 6,153 as of September 2020. (with inputs from wire services) SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/heres-what-gives-jiomart-an-edge-over-its-competitors-according-to-goldman-sachs/articleshow/79054698.cms" data-type="tilCustomLink">Here’s what gives JioMart an edge over its competitors, according to Goldman Sachs</a> <a href="https://www.businessinsider.in/stock-market/news/top-stock-movers-sbi-hcl-tech-srf-basf-happiest-minds-tech-pidilite-pvr-inox-leisure-and-others/articleshow/79054766.cms" data-type="tilCustomLink">Top stock movers — SBI, HCL Tech, SRF, BASF, Happiest Minds Tech, Pidilite, PVR, INOX Leisure, and others</a> <a href="https://www.businessinsider.in/india/news/toxic-haze-chokes-delhi-pollution-levels-enter-severe-zone-highest-since-november-last-year/articleshow/79054990.cms" data-type="tilCustomLink">Toxic haze chokes Delhi, pollution levels enter 'severe zone' – highest since November last year</a>

Here’s why Hindustan Petroleum shares rallied over 7% today

<ul><li>The Surat-based company, Anupam Rasayan, kicked off its public offering today, and the issue will remain open for subscription till March 16.</li><li>The company has fixed a price band of ₹553-555 a share for its IPO.</li><li>The aggressively priced IPO has received mixed recommendations from investment experts.</li><li>Some believe the current valuations exceed growth prospects, while others bet on long-term gains, robust growth, and market share gains.</li></ul>A ₹760-crore initial share-sale of speciality chemical company Anupam Rasayan is now open for public subscription. The Surat-based company kicked off its public offering today, and the issue will remain open for subscription till 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 company has fixed a price band of ₹553-555 a share for its initial public offering (IPO). 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. The aggressively priced IPO has received mixed recommendations from investment experts. Some believe the current valuations exceed growth prospects, while others bet on long-term gains, robust growth, and market share gains. <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;">Brokerage </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;">Recommendation </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;">Choice Broking </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;">Subscribe for long term </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;">Angel Broking </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;">Subscribe </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;">Anand Rathi Financial Services </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;">Subscribe </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;">Ventura Securities </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;">Subscribe </td></tr></tbody></table> Here's what works for it and what doesn’t The aggressively priced IPO According to a Reliance Securities IPO note, the <keyword id="10487969" type="UNKNOWN" weightage="20" keywordseo="Anupam-Rasayan-IPO">Anupam Rasayan IPO</keyword> is demanding a price-to-earnings (PE) of 80 times FY20 earnings and 69 times FY21 annualised earnings, which look aggressively priced. It further added that considering capacity utilisation of 75% in the first nine months of FY21 and likely interest cost savings from debt repayment from IPO proceeds, we believe its earnings can potentially grow 35-40% compound annual growth rate over FY20-23. Despite factoring this, the stock would trade at over 40 times of FY23 earnings, which is expensive compared with its quality peers like SRF and PI Industries. Strong and long-term relationships with diversified customers According to HDFC Securities, the company has developed strong and long-term relationships with various multinational corporations that have helped to expand its product offerings, processes and geographic reach. “Its customers are typically engaged in various industries, including agrochemicals, personal care, pharmaceuticals, specialty pigments and dyes, and polymer additives, and spread across various geographies, which helps it mitigate risks resulting from customer, industry and geographic concentration,” it added. The company has established relationships with various multinational corporations, such as Syngenta Asia Pacific, Sumitomo Chemical Company Limited and UPL Limited, across Europe, Japan, the United States and India. Consistent track record of financial performance The company has demonstrated consistent growth in terms of revenues and profitability. The revenue from operations has increased at a CAGR of 24.29% from ₹349.18 crore in FY2018 to ₹539.38 crore in FY2020. The company’s profit has also grown nearly 45% from ₹73.5 crore in FY18 to ₹134.9 crore in FY20. <div type="image" title="_Anupam Rasayan" msid="81462795" hostid="261"></div> Client concentration remains a key risk According to ICICI Direct, the top five clients constitute 50% of its overall revenue, while the top 10 clients contribute to the tune of 84%. “Since the company has different major customers in its business profile, any loss in customers can impact order backlog and thereby revenue performance,” the analyst report said. On the other hand, Angel Broking believes the company has significant indebtedness, and an inability to comply with repayment could adversely affect the business. It further added that the company is experiencing insufficient cash flows to meet required payments on debt and working capital requirements, which could have an impact on operations. 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The ₹760-crore Anupam Rasayan IPO has received a mixed response from brokerages — here's what works for it and what doesn't

<ul><li><keyword id="11546988" type="UNKNOWN" weightage="20" keywordseo="Clean-Science-and-Technology">Clean Science and Technology</keyword>’s ₹1,546 crore IPO has opened for subscription and investors can apply till July 9. </li><li>The IPO has a price band of ₹880-900 per share. </li><li>The IPO is a complete offer for sale (OFS) by existing promoters and other shareholders to reduce their stake in the firm.</li><li>Most analysts have recommended subscribing to the specialty chemical manufacturer’s IPO on strong industry outlook and financials of the company. </li></ul>Clean Science and Technology is said to be one of the largest manufacturers of certain specialty chemicals in the country. And it’s investors are trying to cash out of the Pune-based company through the initial public offering (IPO), from July 7-9, at a time when the tide is in favour of the entire sector. The entire ₹1,546 crore share sale ⁠— priced at ₹880-900 a piece⁠ — will be from existing investors Ashok Ramnarayan Boob (₹244 crore), Krishnakumar Ramnarayan Boob (₹193 crore), Siddhartha Ashok Sikchi (₹40 crore) and Parth Ashok Maheshwari (₹75 crore). Even though the company is not using the IPO money to expand its business, broking firms recommend that investors must subscribe. “We believe that the Indian specialty chemical industry is going to be one of the biggest beneficiaries of shifting of supply chains post the COVID-19 pandemic. Given the company’s financial performance, industry leading returns ratios and favourable outlook for the industry we recommend ‘subscribe’ to the IPO issue, said Angel Broking in a report. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Broking House </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">BP Wealth </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Canara Bank Securities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Capital </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Investmentz </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> The pandemic has been a blessing in disguise for the specialty chemicals sector. The stalling of imports from China in the last year translated to more buyers in India, who were otherwise buying from China, leading to a 20% revenue growth for the company in the year ending March 2021. “Since specialty chemicals come under essential services, there was not a very strong impact of the lockdown on our financials, but yes demand was impacted. For some products there was low demand and for some demand was significantly better. In fact, our revenues went up over 20% in FY2020,” Siddhartha Ashok Sikchi, promoter and wholetime director, told Business Insider <a href="https://www.businessinsider.in/stock-market/news/clean-science-and-technology-ipo-the-company-has-net-cash-of-192-crore/articleshow/84165887.cms">in a recent interview</a>. The disruption in global supply from China has also got them more buyers in other parts of the world. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">393 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">419 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">512 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">97.7 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">139.6 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">198.4 </td></tr></tbody></table>(in crores) Source: Report by Investmentz.com The company manufactures critical specialty chemicals such as performance chemicals, pharmaceutical intermediates, fast moving consumer goods (FMCG) chemicals and other products. More than two-thirds of the company’s revenue comes from export clients in China, Canada, Europe, the United States of America, Taiwan, Korea, and Japan. Some of the company’s key customers include: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Segment </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bayer AG and SRF </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Agrochemicals </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gennex Labs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pharmaceutical intermediaries </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vinati Organics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Monomer products </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nutriad International NV </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Animal nutrition products </td></tr></tbody></table>Source: Hem Securities report dated July 6 Some of the company's customers have also been associated with the company for over 10 years, the report added. However, in the last three years, the company has reduced its dependence on top clients. Revenue from top 10 clients fell from over half of total revenue in the financial year 2019 to 47.9% at the end of March 2021. The global specialty chemicals market is projected to grow at an annual compounded rate of 5% to reach $1.09 trillion by 2025. Some of the segments such as pharma APIs, agrochemicals, construction chemicals, home &amp; personal care and additives are poised to grow at much higher rates than the overall industry, said Aditya birla Capital in a report dated July 5. No wonder, then, peer companies that are listed have given investors remarkable returns in the last one year. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Last 12 months change (From June 2020 to June 2021) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vinati Organics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">80% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fine Organic Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">49% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Atul </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">98.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SRF </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">108% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Camlin Fine Science </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">356% </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/tech/news/a-small-hospital-assam-is-using-ai-to-detect-strokes-in-tea-planters/articleshow/84194042.cms">A small hospital Assam is using AI to detect strokes in tea planters (businessinsider.in)</a> <a href="https://www.businessinsider.in/stock-market/news/gr-infraprojects-ipo-good-ipo-bet-for-long-term-as-per-analysts/articleshow/84193656.cms">GR Infraprojects IPO is for long term investors, say analysts | Business Insider India</a>

Clean Science and Technology, an Indian supplier to Bayer, has opened its IPO ⁠— and ‘subscribe’ is the unanimous call from analysts

<ul><li>The speciality chemical manufacturing company is looking to raise ₹500 crore through the public issue of shares.</li><li>The bidding process for the IPO will start on July 16 and close on July 20.</li><li>Tatva Chintan Pharma Chem manufactures a range of products in specialty chemicals that serves various industries including the automotive, petroleum, pharmaceutical, agro chemicals and so on.</li></ul>The Gujarat-based speciality chemical company, Tatva Chintan Pharma Chem is set to launch its initial public offering (IPO) with a price band of ₹1,073-1,083 and raise ₹500 crore through the public issue. The bidding process for the IPO will start on July 16 and close on July 20. The IPO lot size is 13 shares. The IPO will include ₹225 crore of fresh equity shares by the company and ₹275 crore of offer for sale (OFS) by promoters and shareholders. The company will utilise the proceeds from the IPO towards expansion of its Dahej manufacturing unit and for upgradation of research and development (R&amp;D) facility in Vadodara. It manufactures a range of products in specialty chemicals category and serves industries like automotive, petroleum, pharmaceutical, agro chemicals, paints and coatings, dyes and pigments, personal care and flavour and fragrances industries. The company receives 70% of the revenue from exports to over 25 countries including the USA, China, Germany, Japan, South Africa, and the UK, whereas the rest 30% comes from domestic markets. Its clients include SRF, Asian Paints, Laurus Laboratories, Bayer, Merck and Divis Laboratories. The speciality chemical company manufactures a diverse portfolio of structure directing agents (SDAs), phase transfer catalysts (PTCs), electrolyte salts for super capacitor batteries and pharmaceutical and agrochemical intermediates and other specialty chemicals (PASC). This is the second speciality chemical company to go for an IPO in July after Clean Science and Technology. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/a-single-bitcoin-transaction-has-a-bigger-carbon-footprint-than-100000-hours-of-youtube-videos/articleshow/84373569.cms">A single Bitcoin transaction has a bigger carbon footprint than 100,000 hours of YouTube videos (businessinsider.in)</a> <a href="https://www.businessinsider.in/business/startups/news/zomato-ipo-should-you-subscribe-this-ipo-check-out-analysts-view/articleshow/84369234.cms">Zomato IPO: should you subscribe this IPO check out analysts view (businessinsider.in)</a>

Tatva Chintan Pharma Chem IPO: Bidding starts on July 16, price band at ₹1,073-1,083

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

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

When you buy through our links, we may earn money from our affiliate partners. <a href="https://www.insider-inc.com/commerce-on-insider-inc/">Learn more.</a><a href="https://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=51308&amp;urllink=www.snakeriverfarms.com%2F%3Fms.com%2F%3F" target="_blank" rel="nofollow noopener sponsored"></a><ul class="summary-list"><li>Japanese Wagyu beef is highly coveted and hard to come by in the US. An alternative that's just as delicious is American Wagyu, which is created by crossing purebred Wagyu with Angus cattle breeds to make a richly-marbled and flavorful meat. </li><li><a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=51308&amp;urllink=www.snakeriverfarms.com%2Ffarms.com%2F" target="_blank" rel="noopener nofollow sponsored">Snake River Farms</a> is a top purveyor of American Wagyu cuts — think juicy and tender filet mignon, prime rib, and even brisket. </li><li>Though its cuts aren't cheap, you can taste and feel the difference in quality. If you love a good steak, the price is worth it.</li><li>Right now, Snake River Farms is also selling <a href="https://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=51308&amp;urllink=www.snakeriverfarms.com%2Fbulk-provisions.htmlvisions.html" target="_blank" rel="nofollow noopener sponsored">bulk bundles</a> of everything from ground beef to filet mignon, for anyone who's worried about meat supply shortages or can't shop in person at a grocery store.</li></ul>The city of Kobe, Japan is synonymous with Wagyu beef, prized among steak lovers for its unique marbling, rich flavor, and melt-in-your-mouth tenderness. But you don't need to travel to Japan in order to have a taste of Wagyu beef. <a href="https://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=51308&amp;urllink=www.snakeriverfarms.com%2F%3Fms.com%2F%3F" target="_blank" rel="noopener nofollow sponsored">Snake River Farms</a> (SRF) is a premium meat brand that's used at Michelin-starred restaurants and sold at select retailers and online. It sells not Japanese Wagyu, but American Wagyu — the result of imported Japanese Wagyu cattle crossbred with traditional Angus cattle breeds.Chef and Snake River Farms fan Wolfgang Puck describes American Wagyu as having "the richness of Japanese beef with lots of marbling," but with a flavor that's "more akin to what we're used to in America." He even says that given the choice between the best Japanese Wagyu and American Wagyu, he would "choose the <a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=51308&amp;urllink=www.snakeriverfarms.com%2Famerican-kobe-beef%2Fsteaks%2Fnew-york-steak.htmlk-steak.html" target="_blank" rel="noopener nofollow sponsored">New York steak</a> from Snake River Farms every time." <a href="https://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=51308&amp;urllink=www.snakeriverfarms.com%2F%3Fms.com%2F%3F" target="_blank" rel="nofollow noopener sponsored"><div type="image" title="Snake River Farms 2" height="600" width="800" msid="75682535" hostid="261"></div></a><h2>How Snake River Farms beef is different</h2>Instead of using the USDA Prime designation, the highest USDA grade for beef, SRF follows the Beef Marbling Standard (BMS), a Japanese marbling scale that the company believes better captures the superior quality of its beef. Its steaks range in BMS from 6 to 12, with 9 to 12 considered excellent. You can find these <a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=51308&amp;urllink=www.snakeriverfarms.com%2Famerican-kobe-beef%2Fgold-grade.htmld-grade.html" target="_blank" rel="noopener nofollow sponsored">top-notch, "Gold Grade" steaks here</a>. The cattle are raised along the high plain of the Snake River in Idaho, where they're fed balanced diets and have space to roam freely. Each piece is wet-aged (marinated in its own juices) for more than three weeks, then hand-cut by a butcher and shipped frozen to you. On the website, you'll find SRF's most popular American Wagyu beef cuts, including <a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=51308&amp;urllink=www.snakeriverfarms.com%2Famerican-kobe-beef%2Famerican-kobe-wagyu-goldfiletmignon.htmltmignon.html" target="_blank" rel="noopener nofollow sponsored">filet mignon</a>, <a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=51308&amp;urllink=www.snakeriverfarms.com%2Famerican-kobe-beef%2Ftraditional-ribeye.html-ribeye.html" target="_blank" rel="noopener nofollow sponsored">ribeye</a>, and <a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=51308&amp;urllink=www.snakeriverfarms.com%2Famerican-kobe-beef%2Froasts%2Famerican-kobe-prime-rib.htmlime-rib.html" target="_blank" rel="noopener nofollow sponsored">prime rib</a>. Even <a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=51308&amp;urllink=www.snakeriverfarms.com%2Famerican-kobe-beef%2Famerican-kobe-hot-dogs.htmlot-dogs.html" target="_blank" rel="noopener nofollow sponsored">hot dogs</a> and <a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=51308&amp;urllink=www.snakeriverfarms.com%2Fbbq%2Fcompetitive-bbq%2Famerican-kobe-wagyu-brisket.htmlbrisket.html" target="_blank" rel="noopener nofollow sponsored">brisket</a> are elevated here, the perfect additions to a gourmet backyard cookout. In order to streamline its fulfillment process due to increased demand, the company is not offering its full lineup of cuts at this time. Right now, it's also selling <a href="https://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=51308&amp;urllink=www.snakeriverfarms.com%2Fbulk-provisions.htmlvisions.html" target="_blank" rel="nofollow noopener sponsored">bulk bundles</a> of staples like ground beef and cuts like filet mignon for anyone who's worried about meat supply shortages or can't shop in person at a <a href="https://www.businessinsider.com/best-online-grocery-store" target="_blank" rel="noopener">grocery store</a>. These bundles are specially priced and have 12 units of meat each. <a target="_blank" rel="nofollow noopener sponsored"><div type="image" title="Snake River Farms" height="600" width="800" msid="75682540" hostid="261"></div></a><h2>What Snake River Farms meat is like</h2>SRF sent me its <a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=51308&amp;urllink=www.snakeriverfarms.com%2Famerican-kobe-beef%2Froasts%2Fprime-rib-roast%2Fwagyu-roast-starter-kit.htmlter-kit.html" target="_blank" rel="noopener nofollow sponsored">American Wagyu Prime Rib Starter Kit</a> ($255), a simple set designed to help novice cooks make their first prime rib. It contained a five-pound prime rib, Jacobsen black pepper salt, and a Thermoworks digital thermometer, reinforcing how easy it really it is to make a tasty prime rib. Quality meat, a generous sprinkling of savory seasoning, and accurate temperature are the only things you need. Everything arrived in an insulated box (the insulated foam is biodegradable and dissolves in water) with dry ice and a reusable thermal bag, and the prime rib was a little thawed by the time I came home to pick it up. Prime rib is no doubt a treat I usually only indulge in around the holidays, and a treat this was. The cooking process was a breeze, and I ended up with a huge, flavorful, and juicy prime rib, which I of course also shared with friends.<h2>The bottom line</h2>I don't buy or eat a lot of meat regularly, but when I do, I know I want high-quality stuff. There's no point in skimping or settling, and Snake River Farms is one of the first online companies I turn to, whether I want to buy for myself or for a friend who deserves a good meal. If you'd like to order beef right now, keep in mind there may be shipping delays. Standard ground shipping is $9.99, while expedited dry-aged order shipping is $49.99. There are also express and overnight shipping options. <h2><a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=51308&amp;urllink=www.snakeriverfarms.com%2Ffarms.com%2F" target="_blank" rel="noopener nofollow sponsored">Shop American Wagyu beef at Snake River Farms here</a></h2>

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