This Samvat 2080, add these anar, phuljhadi and rocket stocks to your portfolio

<ul><li>Large-cap stocks offer better reward-risk balance given more reasonable valuations say experts in their Diwali picks.</li><li>BSFI, domestic upcycle theme along with real-estate, power and infra amongst Diwali picks by brokerages.</li><li>Defence and railway stocks like MTAR Technologies, HAL, Titagarh Wagons also made it to the best <keyword id="10273453" type="General" weightage="20" keywordseo="diwali-stock-picks" source="Orion">Diwali stock picks</keyword> for Samvat 2080. </li></ul>The Diwali festive fervour is here and the Indian stock markets will soon end Samvat 2079 after hitting many milestones. Not only did the benchmark indices gain 6% during the year — Nifty touched 20,000 and Sensex surpassed 67,900. The equity markets have also shown extreme resilience in times of many geopolitical uncertainties like the Israel-Hamas conflict on top of the Russia-Ukraine war, rising inflation, sharp uptick in bond yields and more. For investors who are looking to build an auspicious portfolio for Samvat 2080, experts advise restraint and pick stocks that stand tall amidst corrections. “The recent sharp correction in stock prices may reflect growing recognition of short-term and medium-term challenges or a natural correction in the market from high levels. In our view, large-cap stocks offer better reward-risk balance given more reasonable valuations versus lofty valuations of most mid- and small-cap stocks,” says <keyword id="66607" type="General" weightage="80" keywordseo="kotak-securities" source="Orion">Kotak Securities</keyword>. According to the brokerage firm, short term challenges include higher-for-longer interest rates, and weak domestic consumption. It also expects disruption across sectors as a medium term challenge. Going ahead, it sees value in BFSI stocks, while <keyword id="100578" type="General" weightage="80" keywordseo="sharekhan" source="Orion">Sharekhan</keyword> sees value in domestic upcycle themes, with a few others that can leverage greenshoots in the export market. “Investors should view the current market weaknesses as valuable buying opportunities for constructing a top-tier portfolio aimed at riding the multi-year economic upcycle in India and use the opportunity for wealth creation over the next few years. Corporate earnings are expected to grow at a CAGR of 15% for the next two years, with over 20% earnings growth anticipated in the BSE 200 over the same period,” says Sharekhan. Here are a few stocks picked across brokerages’ Diwali picks. Best of the best: Diwali picks with rocket-like returns <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><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;">Upside </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;">Brokerage </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;">Tata Power </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;">43% </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;">IDBI Capital </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;">Titagarh Rail </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;">30% </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;">SBI Securities </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;">JBM Auto </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;">35% </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;">Chola Securities </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;">IDFC First Bank </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;">37% </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;">Anand Rathi </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;">Go Fashion </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;">23% </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;">JM Financial </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;">Sansera Engineering </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;">43% </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;">Monarch Networth Capital </td></tr></tbody></table> RIL rules, but DLF and small caps on the list too Most of the Diwali picks of stocks veered towards a good balance of large caps. But a few high performing small cap stocks such as RVNL, <keyword id="75435" type="General" weightage="80" keywordseo="gokaldas-exports" source="Orion">Gokaldas Exports</keyword>, <keyword id="19427151" type="General" weightage="80" keywordseo="garware-hitec" source="Orion">Garware Hitec</keyword>, <keyword id="14661372" type="General" weightage="80" keywordseo="syrma-sgs" source="Orion">Syrma SGS</keyword> made it to the pataka stock lists compiled across brokerages. The most common name across lists is Reliance Industries, as companies see good upside in the stock in the next few years. J M Financial says that RIL’s net debt concerns are overdone, and that it has industry leading capabilities across businesses to drive robust 14-15% earnings per share (EPS) compounded annual growth rate (CAGR) over the next 3-5 years. “Jio’s ARPU expected to rise at 10% CAGR over FY23-28 with ARPU being on a structural uptrend given the industry structure, future investment needs, and the need to avoid a duopoly market. Further, strong growth momentum continues in the company’s Retail business as RIL is driving omni-channel capabilities across segments,” the brokerage says. The next most common stock across Diwali picks is DLF. Even as Kolte Patil, Lodha and Godrej Properties were also picked as the real estate sector theme remained strong, this mega developer made it to three brokerages’ best picks. “DLF's strong leadership in the Delhi-NCR region, a vast residential project pipeline, a significant rental portfolio, ample land reserves with low carrying costs, and favourable market conditions create a promising environment for substantial growth,” said Anand Rathi. Banks were also part of each brokerage’s picks with Union Bank of India, ICICI Bank, Bank of India, Axis Bank making the cut. Most of them back defence and railway stocks as well like HAL, Titagarh Wagons and MTAR Technologies – all which have given good returns this year. Auto stocks like M&amp;M, TVS Motor, Tata Motors, Maruti and Ashok Leyland also rode into the Diwali picks, with a good mix of power and infrastructure stocks like Tata Power, Power Grid, BHEL and L&amp;T are expected to light-up portfolios on the day India will glow with the light of diyas.

Enter Samvat 2080 with these Diwali pataka stocks

<ul><li>Bajaj Finance, Infosys, ICICI Bank were the major laggards.</li><li>NTPC, IndusInd Bank, Sun Pharma were the top gainers. </li><li>The 50DMA at 19570 remains a stiff challenge, as per market watchers.</li></ul> Benchmark equity indices, the <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> and the <keyword id="6484188" type="General" weightage="80" keywordseo="Sensex" source="Orion">Sensex</keyword>, declined in early trade on Monday amid weak trends in Asian markets and unabated foreign fund outflows. The 30-share BSE Sensex fell 318.75 points to 64,940.70 in morning trade. The Nifty declined 82.8 points to 19,442.75. At the time of publishing the Nifty, was down over a 100 points in trade. Nov 12, Sunday, marked the start of <keyword id="16442695" type="General" weightage="70" keywordseo="Samvat-2080" source="Orion">Samvat 2080</keyword>, the new trading year according to the Hindu calendar. The auspicious hour and a half trade, known as <a href="https://www.businessinsider.in/stock-market/markets/news/muhurat-trading-samvat-2080-its-a-bright-start-for-indian-stocks/articleshow/105174750.cms" data-type="tilCustomLink" target="_blank">Muhurat Trading</a>, saw both the benchmarks close in the green. Today, among the Sensex firms, Bajaj Finance, Infosys, ICICI Bank, Nestle, Kotak Mahindra Bank and Asian Paints were the major laggards. NTPC, IndusInd Bank, Sun Pharma and Power Grid were the gainers. Commenting on market technicals, Anand James, Chief Market Strategist at Geojit Financial Services said, "The 50DMA at 19570 remains a stiff challenge, until above which, expect buyers to not chase prices higher. This also brings the downside markers forward from 19262/19170 to 19433 or 19370 which would be critical as turnaround points while we play the 19840 trajectory." In Asian markets, Seoul, Shanghai and Hong Kong were trading in the negative territory while Tokyo quoted in the green. The US markets ended with significant gains on Friday. Global oil benchmark Brent crude declined 0.88% to USD 80.71 a barrel. Stock exchanges conducted a one-hour special <keyword id="459249" type="General" weightage="60" keywordseo="muhurat-trading" source="Orion">Muhurat trading</keyword> session on the occasion of Diwali on November 12. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 190.06 crore on Sunday, according to exchange data. The BSE benchmark jumped 354.77 points or 0.55% to settle at 65,259.45 on the first trading session of Samvat 2080 on Sunday. The broader Nifty advanced 100.20 points or 0.52% to 19,525.55.

Samvat 2080 starts on a somber note with Nifty down over a 100 points

It's a bright start to <keyword id="16442695" type="General" weightage="80" keywordseo="samvat-2080" source="Orion">Samvat 2080</keyword> for Indian stocks. Benchmark indices soared substantially to brighten the investors' fortunes during the stipulated one-hour <keyword id="459249" type="General" weightage="90" keywordseo="muhurat-trading" source="Orion">Muhurat trading</keyword> on <keyword id="188" type="General" weightage="20" keywordseo="diwali" source="Orion">Diwali</keyword> evening. Benchmark <keyword id="6484188" type="General" weightage="40" keywordseo="sensex" source="Orion">Sensex</keyword> rose about 500 points, to later erase some of its initial gains. At 6.51 pm, it was at 65,279 points. 46 of the <keyword id="6354813" type="General" weightage="40" keywordseo="nifty" source="Orion">Nifty</keyword> 50 stocks were in the green, with Coal India, UPL, Infosys, Eicher Motors, and Wipro leading the pack, at the time of filing this story. All Nifty sectoral indices too were firm during the Muhurat hour. During this one-hour window, investors placed orders for stocks according to their wishes which they believe to be auspicious and would bring in good returns. Diwali, dedicated to worshipping the Goddess of Wealth, marks an auspicious day for new purchases and people tend to grab onto some form of financial investment. Also, the purchase of precious metals such as gold and silver, real estate, electronic items, and automobiles, among others, is specially timed by many on this auspicious day. This year's muhurat trading session was from 6:15 PM till 7:15 PM on Sunday. During this period, one can trade or invest just like they do during regular financial market hours. There was the option of even placing the orders outside Muhurat hour as they would be accordingly executed when trading started. "Each trade made during this auspicious time promises growth and the spirit of unity among investors. NSE encourages investors to deal only with registered intermediaries and refrain from dealing in unregulated products. Stock market is meant for long-term wealth creation. An unpleasant experience disheartens the affected investors to enter the stock market ever again. Trade in derivatives by retail investors should be avoided because of the high risk involved in derivatives," said Ashishkumar Chauhan, MD and CEO, National Stock Exchange. Chauhan suggested investor should be a "long-term player." "This is the best way to participate in India's growth story. May the trades be favorable, the investments be fruitful, and the spirit of Diwali guide us toward abundance and financial success. Happy Muhurat Trading at the National Stock Exchange, where every trade signifies our collective resolve to build a stronger, wealthier tomorrow," Chauhan said, hours before the Muhurat trading session was on. Like every year, stock brokerages and financial advisory firms have put out their Diwali stock recommendations. They are largely bullish on the Indian market during the Hindu calendar year 'Samvat 2080'. The US Federal Reserve keeping the key policy rate unchanged for the second straight time at 5.25-5.50 per cent, as was widely expected, has been boosting stocks globally. Now, global crude oil prices, a key economic indicator, will be a key monitorable issue after key oil exporters Saudi Arabia and Russia reportedly confirmed recently they would continue with their additional voluntary oil output cuts until the end of 2023, amid the ongoing conflict in West Asia. A note by Motilal Oswal Financial Services recommended investors focus on themes like financials, consumption, discretionary spending, construction and real estate, and high-growth niche sectors like MFIs, electronic manufacturing, and new-age FinTech stocks. In a report, MOFSL said it expects financials, especially PSU banks and NBFCs to continue witnessing robust loan growth while expecting their asset quality to remain healthy. Also, valuations are reasonable, especially after their recent underperformance. Samvat 2080 is set to start with multiple states going into elthe ection in November-December 2023, which would set the stage for general election likely in May 2024. Historically, such a scenario has resulted in a pre-election rally. In the last five consecutive Lok Sabha elections (from 1999 to 2019), Nifty has rallied 10-35 per cent for the six-month run-up until the announcement of election results. MOFSL believes the overall trend should remain positive in Samvat 2080 and is positive on Indian equities from a mid to long-term perspective, given the favourable domestic environment. Here were some of the other Indian advisory firms with their stock recommendations: Noting that the broader market valuations are rich, the brokerage Kotak Securities in a report titled 'Samvat 2080: Fundamental Muhurat Picks' recently said opportunities arising from market corrections (especially recent ones) can be used to add quality stocks from a long-term investment perspective.

Muhurat Trading Samvat 2080: It's a bright start for Indian stocks

<ul><li><keyword id="16442695" type="General" weightage="20" keywordseo="samvat-2080" source="Orion">Samvat 2080</keyword> which will come into effect on Diwali day, holds great promise, say analysts.</li><li>A few of them expect a rally based on the outcome of the 2024 <keyword id="43763" type="General" weightage="20" keywordseo="general-elections" source="Orion">general elections</keyword> next year.</li><li>Midcaps, which saw a good run in Samvat 2079, might see investment opportunities if the broad economy recovers. </li></ul>Never has there been a year ahead with as much promise as uncertainty. While rising bond yields, a war in the Middle East are global drag factors, India has a lot to look forward to in the upcoming Samvat 2080. The key factor is general elections to happen next year. Most analysts hope it will drive up benchmark indices to new heights. “The resilient Indian economy and good corporate earnings will attract big investment into the market. The bull case scenario is a flood of institutional money -- both domestic and foreign -- and a stable government triggering a big rally in the market taking the Nifty beyond 23,000 by next Samvat,” said V K Vijayakumar, chief investment strategist at Geojit Financial Services. In spite of global volatility, India remains in a favourable position for growth, which will drive Indian equities in the foreseeable future, says Pranav Haridasan, MD &amp; CEO, Axis Securities. “The improvement in the balance sheet strength of corporate India and the much-improved health of the Indian banking system are other positive attributes. They will ensure that Indian equities readily deliver double-digit returns in the next 2-3 years with the support of double-digit earnings growth,” adds Haridasan. The Samvat that was Samvat 2079 has not been too bad for equity investors — thanks to the bull run seen since April this year. Over the last 12 months, Nifty50 with 14.8% returns outperformed the MSCI EM index which saw 12% returns. The premiums were driven by stable macros, broad based earnings growth and robust banking and corporate sector health. Moreover, mid and small cap investors have a lot more to cheer about. Nifty Midcap 100 index went up by 22.7%, while Nifty Smallcap 250 went up by 28%. Large caps paled in comparison, with Nifty 100’s 4.3% returns in the last one year. Tata Mutual Fund’s equity view believes that there may be more investment opportunities as their headline valuations are in an acceptable zone. “Midcaps in a growing market with market leadership and low leverage may be considered on par with large caps. Broad-based economic recovery would also result in more investment opportunities in mid and small caps,” it added. But a possible election rally will be led by big companies, analysts predict. “Large-caps across sectors will lead the rally. The likely outperformers are financials, capital goods and automobiles,” said Vijayakumar. Most analysts also back banks, capital goods, manufacturing and pharma sectors, and negative on companies that are based on urban consumption and commodities. The <keyword id="102132" type="General" weightage="20" keywordseo="crude-oil-prices" source="Orion">crude oil prices</keyword> have been extremely volatile in the last few weeks oscillating between $88-96 per barrel in the last month and the Israel-Hamas war is adding more fuel to fire. Any downside movement can alter the valuations premiums of Indian markets in the upcoming Samvat that will start on the day of Diwali. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/enter-samvat-2080-with-these-diwali-pataka-stocks/articleshow/105058383.cms">Enter Samvat 2080 with these Diwali pataka stocks</a> <a href="https://www.businessinsider.in/business/news/foreign-brands-bet-big-on-bharats-bulging-wallets/articleshow/105071211.cms">Foreign brands bet big on Bharat’s bulging wallets</a>

Samvat 2080 holds promise of an election rally but crude could play spoilsport

<ul><li>The stock listed at ₹819 as compared to its issue price of ₹792 per share.</li><li>Its market cap is at ₹3,307 crore, according to Bombay Stock Exchange.</li><li>The ₹490 crore IPO was subscribed 23.86 times the shares on offer. </li></ul><keyword id="12709709" type="General" weightage="20" keywordseo="protean-egov-technologies" source="Orion">Protean eGov Technologies</keyword> opened at 3% premium on Monday on the first day of Samvat 2080. The stock listed at ₹819 as compared to its issue price of ₹792 per share in early morning trade. However, the stock gained during the trading session to close 11% above its listing price. The grey market was expecting 10% listing gains from the stock. Its market cap is at ₹3,307 crore, according to Bombay Stock Exchange. The stock listed only on BSE. The listing performance of the recent debuts had been mixed with a few hits and misses. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><thead><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Company </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Listing gains </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">ESAF Small Finance Bank </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">15% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Honasa Consumer </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">4% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Cello World </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">22% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Blue Jet Healthcare </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">14.4% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">IRM Energy </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">-5% </th></tr></thead><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> <keyword id="12812487" type="General" weightage="20" keywordseo="protean-egov-technologies-ipo" source="Orion">Protean eGov Technologies IPO</keyword> price band was fixed at ₹752-792 per share. The company has no listed peers in the market. Ahead of the IPO, it raised ₹143 crore from anchor investors like BI General Insurance Company, SBI Life Insurance Company, Aditya Birla Sun Life Insurance Company, LIC Mutual Fund and Baroda BNP Paribas Mutual Fund. “There has been a manifold increase in digital payments in the recent past. To further boost digital transactions, the finance minister in Union Budget 2023-2024 earmarked ₹115.4 billion to bolster the digital India initiative of which ₹1.5 billion are proposed to provide financial incentive to promote digital mode of payments,” the company said in its RHP. The company is a market leader in universal, citizen centric and population scale e-governance solutions. It has 45% market share in PAN allocation. Since inception in 2023, it has managed 19 projects spread across seven ministries and autonomous bodies. It’s been the chief architect and implementer for critical and large-scale technology infrastructure projects in the country. It collaborates with the government and has extensive experience in creating digital public infrastructure and developing innovative citizen-centric e-governance solutions. “At the upper price band, the company is valued at a P/E ratio of 29.9 of its FY23 earnings with a market cap of ₹32,034 million post issue of equity shares. We believe that the issue is fairly priced and recommend ‘Subscribe –Long Term’ rating to the IPO,” said a report by Anand Rathi. The government is also setting up various initiatives such as setting up of 75 digital banking units in 75 districts across the country by scheduled banks and 100% inclusion of post-offices under the core banking systems thus providing features such as net banking, mobile banking, ATMs, and also provide online transfer of funds between post office accounts and bank accounts have been taken.

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This Samvat 2080, add these anar, phuljhadi and rocket stocks to your portfolio

Katya

Gulshan

Enter Samvat 2080 with these Diwali pataka stocks

Katya Naidu

Samvat 2080 starts on a somber note with Nifty down over a 100 points

BI India Bureau

Muhurat Trading Samvat 2080: It's a bright start for Indian stocks

ANI

Samvat 2080 holds promise of an election rally but crude could play spoilsport

Katya Naidu

Protean eGov Technologies closes debut day with 11% listing gains

Katya Naidu