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<ul><li><keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> opened in the green and climbed in early trade.</li><li>The increase was reported amid buying in IT and <keyword id="20193591" type="General" weightage="20" keywordseo="bank-stocks" source="keywords">bank stocks</keyword>.</li><li>Tata Steel, Power Grid, Axis Bank, JSW Steel, Reliance and NTPC were the laggards.</li></ul>Equity benchmark indices rallied in early trade on Tuesday amid buying in IT and bank stocks along with a sharp cut in Brent crude oil prices. The BSE Sensex climbed 327.39 points to 82,300.44 in early trade. The NSE Nifty went up by 84.1 points to 25,212.05. Asian Paints, Bharti Airtel, Infosys, Mahindra &amp; Mahindra, Titan, Bajaj Finance, <keyword id="20032279" type="General" weightage="20" keywordseo="HCL-Technologies" source="keywords" meta.keywordsubtype="org" meta.entityname="HCL Technologies" meta.hostid="261" meta.entityid="HCL Technologies">HCL Technologies</keyword> and ICICI Bank were among the major gainers. From the blue-chip pack, Tata Steel, Power Grid, Axis Bank, JSW Steel, Reliance and NTPC were the laggards. IT services major HCL Technologies on Monday reported a 10.51% increase in consolidated net profit to ₹4,235 crore in the July-September quarter of FY25, as the company raised the lower band of its growth guidance on the back of better-than-expected performance. Reliance Industries on Monday reported a 5% fall in the July-September quarter net profit as weak oil refining and petrochemical business hurt operational performance. "The sharp cut in Brent crude by 3% is a macro positive for India, but CPI inflation for September coming worse-than-expected at 5.49% is a concern...," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. Soaring vegetable prices pushed the retail inflation rate to a nine-month high of 5.49% in September, according to government data released on Monday. Global oil benchmark Brent crude dropped 2.98% to $75.15 a barrel. In <keyword id="20155107" type="General" weightage="20" keywordseo="Asian-markets" source="keywords">Asian markets</keyword>, Seoul and Tokyo were quoting in the positive territory while Shanghai and Hong Kong traded lower. Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,731.59 crore on Monday, according to exchange data. However, Domestic Institutional Investors (DIIs) bought equities worth ₹2,278.09 crore. "Even though FIIs continue to sell, the intensity of their selling has come down reducing the pressure on largecaps," Vijayakumar added. The BSE benchmark Sensex jumped 591.69 points or 0.73% to settle at 81,973.05 on Monday. The Nifty climbed 163.70 points or 0.66% to 25,127.95. "The Nifty continues to show resilience, with bullish momentum supported by positive global market trends and strong Q2 earnings from HCL Tech," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said. With inputs from PTI. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-ipad-mini-with-a17-pro-chip-launched-starting-at-49900/articleshow/114259209.cms">Apple iPad mini with A17 Pro chip launched starting at ₹49,900</a> <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-record-4-growth-in-q3-2024-samsung-leads-the-market/articleshow/114241402.cms">Global smartphone shipments record 4% growth in Q3 2024, Samsung leads the market</a> <a href="https://www.businessinsider.in/stock-market/webstories/hyundai-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114235421.cms">Hyundai IPO – Price band to risk factors, all you need to know</a>

Sensex, Nifty climb in early trade on buying in IT, bank stocks

Dev Accelerator Ltd, which provides <keyword id="21009289" type="General" weightage="20" keywordseo="flexible-office-spaces" source="keywords">flexible office spaces</keyword>, has filed a draft document with <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords" meta.keywordsubtype="org" meta.entityname="Sebi" meta.hostid="261" meta.entityid="Sebi">Sebi</keyword> to launch its initial public offering (IPO) to raise around ₹125 crore. Dev Accelerator (DevX) is promoted by the listed entity <keyword id="23437545" type="General" weightage="20" keywordseo="Dev-Information-Technology-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Dev Information Technology Ltd" meta.hostid="261" meta.entityid="Dev Information Technology Ltd">Dev Information Technology Ltd</keyword>. DevX's IPO is entirely a fresh issue of 2.47 crore <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> (face value of ₹2), with plans to list on both the NSE and BSE. The company proposes to utilise ₹68.95 crore for "fit-outs" in the new centres and their security deposits. It proposes to use Rs 30 crore towards repayment and/or prepayment (in full or in part) of certain borrowings, according to the draft red herring prospectus (DRHP) filed with markets regulator Sebi. The remaining amount will be allocated for general corporate purposes, including strategic initiatives, strengthening marketing capabilities and brand-building exercises, payment of lease liabilities, among others. This <keyword id="20083428" type="General" weightage="20" keywordseo="capital-infusion" source="keywords">capital infusion</keyword> will enable DevX to expand its footprint in major cities, including Mumbai, Gurugram, Noida, Pune, Chennai, GIFT City, Ahmedabad, Vadodara, Rajkot, Surat, Goa, and Jaipur. As of August 31, 2024, DevX had 25 centres in more than 10 cities, including Ahmedabad, Vadodara, Hyderabad, Delhi, and Udaipur. The collaboration between Dev IT's expertise in digital transformation and DevX's flexible workspace solutions creates a unique synergy, offering integrated solutions for enterprises looking to enhance operational efficiency. On the IPO, Pranav Pandya, Founder &amp; Chairman of Dev Information Technology Ltd, said, "This significant milestone underscores our commitment to the dynamic growth of the flexible workspace sector in India." The funds raised will be instrumental in accelerating DevX's <keyword id="20389247" type="General" weightage="20" keywordseo="expansion-plans" source="keywords">expansion plans</keyword>, enabling it to enter new markets, enhance infrastructure, and invest in technology that drives efficiency, he said. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/september-auto-sales-automakers-report-a-decline-mahindra-and-mahindra-overtakes-tata-motors/articleshow/113925972.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/september-auto-sales-automakers-report-a-decline-mahindra-and-mahindra-overtakes-tata-motors/articleshow/113925972.cms" target="_blank">September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors</a><a href="https://www.businessinsider.in/business/auto/news/ola-electric-continues-to-lose-market-share-as-bajaj-auto-and-tvs-motor-gain/articleshow/113900252.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-continues-to-lose-market-share-as-bajaj-auto-and-tvs-motor-gain/articleshow/113900252.cms" target="_blank">Ola Electric continues to lose market share as Bajaj Auto and TVS Motor gain</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms" target="_blank">Upcoming smartphones launching in India in October 2024</a>

Dev Accelerator plans ₹125 crore IPO amid high demand for flexible office spaces

Imagine a bustling jewellery market teeming with diamonds and gold. Amidst this glittering chaos, a small stall is trying to sell handcrafted gemstones. Even as newer and shinier outlets keep cropping up, all vying for attention, this gemstone store offers some of the oldest yet valuable jewels at a discount. Though they lack immediate sparkle, these rare gems reveal their value to the discerning buyer. This is how South Korea appears for many experts in global capital markets: a trove of undervalued gems, overshadowed by brighter, more aggressively marketed investment options. This undervaluation, known as the "<keyword id="24399183" type="General" weightage="20" keywordseo="korean-discount" source="keywords">Korean Discount</keyword>," reflects how South Korean companies are priced much lower than their global peers despite robust fundamentals — strong financial performance and consistent profitability. Contributing factors are many, ranging from opaque governance structures to geopolitical risks. But the fact stays, if you are a seasoned conglomerate listed in South Korea, you are likely undervalued. <keyword id="19906087" type="General" weightage="20" keywordseo="hyundai" source="keywords">Hyundai</keyword> Motor India Ltd. (HMIL), a subsidiary of the Korean giant Hyundai Motor Company (HMC), recently sought to escape this valuation trap by listing in India, a market where investor optimism commands premium pricing. But its valuation raised many eyebrows! Now that a month and a half has gone by since its listing, time is apt to examine if this gamble paid off. Will <keyword id="93460" type="General" weightage="100" keywordseo="hyundai-india" source="Orion">Hyundai India</keyword> justify its high valuation? Or does the listing highlight broader questions about the overheated valuation dynamics of Indian markets? A record-breaking <keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword> but questions remain Hyundai Motor India’s mega Initial Public Offering (IPO), launched in October 2024, broke records by raising ₹27,870 crore, making it India’s largest-ever IPO. The offer was oversubscribed by 2.37 times, highlighting robust demand. But many investors remained sceptical: was this IPO an honest attempt to expand Hyundai’s footprint in India or was it trying to offer a way to cashout for existing investors and promoters? Or perhaps, is it an attempt by the Korean chaebol — a large family-owned business conglomerate — to break free from the aforementioned “Korean Discount”? When shares listed on October 22, these concerns seemingly weighed on the minds of most investors and the stock promptly dipped 5% below the issue price on the day. A tepid grey market performance had already foreshadowed this muted debut in the Indian markets. Now, after almost 35 trading sessions on Indian market, the stock remains almost exactly at price it listed on October 22 at Rs 1820—no gain, no loss. <h3>The gamble of hyper-valuation</h3>Much of this hesitation stemmed from Hyundai’s valuation. On listing, Hyundai was valued at $18 billion, positioning it as one of India’s most valuable automotive companies. However, such high valuations often temper investor enthusiasm, resulting in more cautious short-term outcomes. For most investors, the Price-to-Earnings (P/E) ratio is the most preferred parameter to gauge if a company is overvalued or undervalued. With a P/E ratio of 26.3, HMIL was priced significantly above the Indian automotive industry average of 24.4. Globally, automotive companies operate with much lower P/E ratios, reflecting mature market conditions and slower growth trajectories. HMIL’s South Korean parent Hyundai Motor Company (HMC) trades at a meagre 3.07, believe it or not! For Indian investors, the high premium hinted at overvaluation despite Hyundai’s strong domestic position. Such stark difference in valuation obviously sparked debates — is the Indian market assigning a premium to Hyundai Motor India’s growth potential, or is it simply reflecting the general exuberance around the prospects of the Indian economy? Another concern is the allocation of IPO proceeds. Hyundai’s IPO was structured as an offer for sale (OFS), meaning all funds raised would flow to the parent company rather than Hyundai India’s operations. Although Hyundai has committed to investing in R&amp;D for EVs and hybrids, critics argue that the lack of immediate reinvestment in India’s operations reflects a missed opportunity for domestic growth. Despite the early disappointment, Hyundai was confident that the valuation was fair. It did have some factors going for it, in addition to the fact that other auto giants like Mahindra &amp; Mahindra and <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword> command even higher P/E ratios. And looking at the company fundamentals, it does seem like Hyundai is playing a long-term game. <h3>Hyundai in India: A proven track record</h3>Despite the initial stumble, Hyundai India’s long-term story is compelling. Since entering the Indian market in 1996, the automaker has sold over 8 million vehicles and firmly occupies the second spot in the domestic passenger vehicle market, trailing only Maruti Suzuki. Hyundai’s blockbuster SUV offerings, like the Creta and Venue, have been critical in building this dominance. Despite some challenge from Maruti Suzuki Brezza and Tata Punch, Creta has retained the tag of ‘most-selling SUV in India’ successfully so far this year. <div type="image" title="Hyundai" agency="Business Insider India" msid="116156234" hostid="261" caption="&amp;lt;p&amp;gt;Selling over 17,000 units per month on average this year, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva)&amp;lt;/p&amp;gt;"></div> Selling over 17,000 units per month on average, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva) Hyundai India’s market share of 14% in October 2024 underscores its clout. The company’s ability to tap into India’s premiumisation trend, where consumers increasingly prefer high-end vehicles, positions it well for growth. With plans to expand in electric vehicles (EVs) and hybrid technology, Hyundai is poised to capitalise on both domestic demand and export opportunities. The company’s ability to capitalize on its strong brand, extensive dealer network, and leadership in segments like SUVs and exports will determine its future performance. Hyundai’s strategic focus on expanding electric vehicle production also aligns with global trends towards sustainability, potentially positioning it as a leader in the segment. By listing in India, Hyundai aims not only to expand its operations but also to make India a global manufacturing and export hub for its products, especially SUVs and EVs. Therefore, despite early setbacks, Hyundai’s gamble seems to have paid off. The stock has rebounded, gaining 5% in the past month. More good news came in this week, as positive projections from Morgan Stanley and JPMorgan forecast an impressive 17-28% upside for the stock over the next year, reflecting growing investor optimism. <h3>A strategic pivot from the Korean Discount?</h3>The Korean Discount has long plagued South Korea’s chaebols, including Hyundai. Experts attribute this to several factors: <ul> <li>Chaebol Governance: South Korea’s conglomerates, known as chaebols, are often criticised for opaque governance structures and excessive family control.</li> <li>Geopolitical Risks: Tensions with North Korea contribute to investor caution, adding a layer of perceived risk.</li> <li>Limited Domestic Liquidity: South Korea’s relatively small investor base can constrain market activity and valuation potential.</li> </ul> By listing in India, Hyundai sought to unlock better valuations for its subsidiary, leveraging the optimism of Indian markets. India’s stock market has a trailing P/E ratio of 24.4, far above South Korea’s Kospi average of 16-17. The Indian market’s appetite for high-growth stories provides a fertile ground for companies like Hyundai to escape the valuation constraints of their home market. A successful IPO could encourage other such conglomerates to follow suit, setting a precedent. While Hyundai India has a robust track record, its future success hinges on navigating key challenges: <ul> <li>Supply Chain Vulnerabilities: Hyundai relies heavily on its Chennai plant, making it vulnerable to disruptions.</li> <li>Intensifying Competition: Domestic rivals like <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword> and MG Motors are making aggressive inroads into the EV market.</li> <li>Policy Risks: The automotive sector’s reliance on government incentives for EVs and hybrids adds a layer of unpredictability.</li> </ul> High valuations come with risks. Hyundai will need to prove that it can sustain its growth trajectory in India, fend off competition from established players like Maruti Suzuki and Tata Motors, and navigate challenges such as supply chain disruptions and regulatory hurdles. If Hyundai successfully capitalises on its strong brand and market leadership, it could not only redefine its value but also serve as a case study for other Korean companies seeking better recognition and valuations in global markets. <h3>Is Hyundai saga a reflection of overheated Indian markets?</h3>The bigger question here is, does Hyundai’s IPO highlights a broader narrative about Indian markets’ premium valuations? With a trailing P/E ratio of 24.4, Nifty 50 index is among the highest in emerging markets. India’s stock markets consistently command a premium due to robust retail participation, strong economic growth prospects, and a burgeoning middle class. While this premium reflects optimism about India’s long-term growth story, it also signals potential risks of overvaluation, particularly in sectors like technology, automotive, and consumer goods. With a record ₹94,017 crore outflow by Foreign Portfolio Investors (FPIs) in October 2024, concerns about overheated valuations are mounting. Sustaining such unprecedented valuations required companies to consistently perform above global averages, and retaining robust earnings growth quarter after quarter remains a challenge in today’s uncertain world. For Hyundai, the high valuation is both an opportunity and a risk. While it underscores investor confidence, it narrows the margin of safety, making the stock vulnerable to corrections during economic downturns. Take for example, the high-profile IPO of Life Insurance Corporation of India (LIC) that raised over ₹21,000 crore. Its listing was met with disappointment as the stock began trading at a 9% discount to its issue price, and subsequent performance has remained subdued. LIC’s post-IPO journey also highlights how inflated valuations can lead to long-term underperformance, as the stock gave only 12% return over the past 30 months when even the Nifty 50 index went up by over 44%. This happens when when the company's growth narrative fails to align with its pricing. Despite being a household name with a dominant market share, LIC's stock has struggled to meet expectations, partly due to concerns about its operating efficiency and the limited use of IPO proceeds for growth initiatives. Make no mistake, Hyundai Motor India’s IPO is a landmark event! It showcases the potential for Korean companies to leverage emerging markets like India for better valuations. It also shows that strong fundamentals can help justify a company such premium valuations even amidst bearish economic prospects. However, it also serves as a cautionary tale about the risks of overvaluation. For Hyundai, the next steps involve proving its long-term growth story, navigating competitive challenges, and maintaining investor confidence. For Indian markets, Hyundai’s IPO underscores the need to balance optimism with realistic expectations as they continue to evolve as global investment hotspots. To sustain the country’s economic narrative as a land of unmatched opportunities, corporate India must work on improving long-term fundamentals and mitigating long-term risks. As global investors watch closely, Hyundai India’s success or failure could shape how international companies view India as a listing destination in the years to come.

Tackling the 'Korean Discount': A deep dive into curious case of Hyundai Motor India's market listing

<keyword id="20270096" type="General" weightage="20" keywordseo="equity-benchmark-indices" source="keywords">Equity benchmark indices</keyword> rallied in early trade on Friday amid buying in <keyword id="19963566" type="General" weightage="20" keywordseo="IT-stocks" source="keywords">IT stocks</keyword> after <keyword id="6357150" type="General" weightage="20" keywordseo="TCS" source="Orion">TCS</keyword> announced its June quarter earnings. The 30-share <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> climbed 226.11 points to 80,123.45 in early trade. The <keyword id="19950205" type="General" weightage="20" keywordseo="NSE-Nifty" source="keywords">NSE Nifty</keyword> went up by 82.1 points to 24,398.05. Among the Sensex pack, <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="261" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> climbed over 2 per cent after the country's largest IT services player reported 8.7 per cent growth in the June quarter net profit at Rs 12,040 crore. Infosys, Axis Bank, Mahindra &amp; Mahindra, Bajaj Finance, Tech Mahindra and HCL Technologies were the other major gainers. Maruti, Asian Paints, Bharti Airtel and ITC were among the laggards. "The positive domestic cue is the better-than-expected numbers from TCS and positive management commentary which can lift most IT stocks," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. In Asian markets, Hong Kong quoted higher while Seoul, Tokyo and Shanghai traded lower. US markets ended mostly lower on Thursday. Global oil benchmark Brent crude climbed 0.25 per cent to USD 85.59 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,137.01 crore on Thursday, according to exchange data. Retreating from early highs, the BSE benchmark closed lower by 27.43 points or 0.03 per cent at 79,897.34 on Thursday. The NSE Nifty edged down 8.50 points or 0.03 per cent to settle at 24,315.95.

Markets climb in early deals on buying in IT stocks after TCS earnings

<ul><li>Apollo Green Energy is expected to announce its initial public offering (IPO) in 2025.</li><li>The company, a part of the Apollo International Group aims to build a <keyword id="23806914" type="General" weightage="20" keywordseo="10000-crore-project-portfolio" source="keywords">₹10,000 crore project portfolio</keyword>.</li><li>The company currently has an order book of ₹3,500 crore.</li></ul>Apollo Green Energy Ltd (AGEL), part of Apollo International Group, on Tuesday said it is preparing for a public listing next year to support its expansion plans and secure new projects. Also, the company is set to build a ₹10,000-crore project portfolio by 2025. "With over 200 professionals and an order book of ₹3,500 crore, we are focused on delivering projects that meet the nation's energy needs and promote sustainability. Our upcoming IPO in 2025 will further strengthen our financial base, enabling us to scale our operations and invest in cutting-edge renewable technologies," said Sanjay Gupta, CEO, Apollo Green Energy. AGEL is a leading Engineering, Procurement, and Construction (EPC) company specializing in renewable energy, providing a range of solutions that includes utility-scale solar, energy storage systems, green hydrogen initiatives, and hybrid power. Operating in eight states, the company manages a diverse portfolio of projects, including 400 MW of solar installations. The company has been involved in the execution of Flue Gas Desulfurization (FGD) systems to reduce sulfur dioxide emissions, a major contributor to pollution, in power generation. This project, valued at approximately Rs 700 crore, is nearing completion. "Currently, we are executing a large utility-scale solar project which requires different technical expertise, like we are doing 40 MW solar fixed tilt in Odisha, 50 MW floating solar project (first of its kind)in Kerala and 200 MW solar with tracker technology in Gujarat. "We are also executing a 1,50,000 smart solar street lights project in Bihar. Going forward, AGEL will also expand its footprint in wind, hybrid, green Hydrogen and battery storage solutions." Gupta added. AGEL aims to play a crucial role in supporting India's clean energy goals. By focusing on solar, green hydrogen, and hydro energy projects, the company not only supports the nation's energy transition but also delivers long-term value for stakeholders, the company said. With revenue growth from Rs 324.83 crore in FY22 to Rs 1,174.77 crore in FY24, AGEL is poised to sustain this momentum through FY25, underscoring its commitment to operational efficiency. In addition, AGEL is also forming strategic partnerships with technology providers and exploring options to produce its own solar modules. These moves will help the company expand its capabilities in renewable energy and keep projects cost-effective, all while contributing to India's vision for a cleaner energy future. With inputs from PTI. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-6500mah-battery-to-launch-in-india-on-november-26/articleshow/114945858.cms">Realme GT 7 Pro with Snapdragon 8 Elite, 6,500mAh battery to launch in India on November 26</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms">Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away</a> <a href="https://www.businessinsider.in/business/auto/news/october-auto-sales-maruti-suzuki-and-tata-motors-report-a-decline-mahindra-continues-to-grow/articleshow/114931927.cms">October auto sales – Maruti Suzuki and Tata Motors report a decline, Mahindra continues to grow</a>

Apollo Green Energy to go public next year – aims to build ₹10,000 crore project portfolio

<ul><li>One mainboard IPO is scheduled for the third week of July 2024.</li><li><keyword id="22414300" type="General" weightage="20" keywordseo="Sanstar-Limited" source="keywords" meta.keywordsubtype="org" meta.entityname="Sanstar Limited" meta.hostid="261" meta.entityid="Sanstar Limited">Sanstar Limited</keyword> is looking to raise ₹510.15 crore from the <keyword id="20476805" type="General" weightage="20" keywordseo="primary-market" source="keywords">primary market</keyword>.</li><li>Three SME <keyword id="20020566" type="General" weightage="20" keywordseo="IPOs" source="keywords">IPOs</keyword> are also scheduled this week in the primary market.</li></ul> After a week filled with small and medium enterprise (SME) segment initial public offerings (IPOs), the third week of July will be relatively quiet. Apart from one mainboard IPO, three SME IPOs will hit the street this week. Sanstar Limited is the only company from the mainboard segment, while companies like <keyword id="22414301" type="General" weightage="20" keywordseo="Tunwal-E-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tunwal E-Motors" meta.hostid="261" meta.entityid="Tunwal E-Motors">Tunwal E-Motors</keyword>, <keyword id="22395216" type="General" weightage="20" keywordseo="Kataria-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Kataria Industries" meta.hostid="261" meta.entityid="Kataria Industries">Kataria Industries</keyword> and <keyword id="22414302" type="General" weightage="20" keywordseo="Macobs-Technologies" source="keywords" meta.keywordsubtype="org" meta.entityname="Macobs Technologies" meta.hostid="261" meta.entityid="Macobs Technologies">Macobs Technologies</keyword> are from the SME segment. <h2>IPOs this week</h2> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue size </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Start date </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">End date </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tunwal E-Motors </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹115.64 crore </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15-Jul-24 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">18-Jul-24 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kataria Industries </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹54.58 crore </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">16-Jul-24 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">19-Jul-24 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Macobs Technologies </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹19.46 crore </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">16-Jul-24 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">19-Jul-24 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sanstar Limited </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹510.15 crore </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">19-Jul-24 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">23-Jul-24 </td></tr></tbody></table> <h2>Sanstar Limited</h2>Sanstar Limited is the only IPO from the mainboard segment this week. The company, which manufactures plant-based products and ingredients for food, pet food and more is looking to raise ₹510.15 crore from the primary market. This includes a fresh issue of ₹397.10 crore and an offer for sale (OFS) component of ₹113.05 crore. The IPO will open on Friday, July 19 and close on July 23. <h2>Tunwal E-Motors</h2>The Tunwal E-Motors SME IPO is currently live and will close on July 18. The electric vehicle (EV) manufacturing company is involved in designing, manufacturing and distributing electric two-wheelers. The company is looking to raise ₹115.64 crore from the market, which includes a fresh issue of ₹81.72 crore and an OFS component of ₹33.93 crore. <h2>Kataria Industries</h2>The Kataria Industries SME IPO will open on Tuesday, July 16 and close on July 19. The company manufactures LRPC strands, steel wires, sheathing ducts, aluminium conductors and more. The company is looking to raise ₹54.58 crore from the market, which is completely a fresh issue and there is no OFS component. <h2>Macobs Technologies</h2>The third SME IPO this week is of Macobs Technologies, which produces products for male grooming and sells them online. The IPO will open on Tuesday, July 16 and close on July 19. The company is looking to raise ₹19.46 crore from the market, which is completely a fresh issue and there is no OFS component. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/the-biggest-ipos-in-indias-history-lic-to-paytm-companies-that-have-raised-the-most-funds/articleshow/111690863.cms">The biggest IPOs in India’s history – LIC to Paytm, companies that have raised the most funds</a> <a href="https://www.businessinsider.in/business/auto/news/its-raining-discounts-maruti-suzuki-hyundai-tata-motors-and-others-offer-discounts-on-cars-as-sales-slowdown/articleshow/111688501.cms">It’s raining discounts – Maruti Suzuki, Hyundai, Tata Motors and others offer discounts on cars as sales slowdown</a> <a href="https://www.businessinsider.in/tech/news/global-pc-shipments-report-growth-for-the-second-quarter-up-by-3-in-q2-2024/articleshow/111656566.cms">Global PC shipments report growth for the second quarter, up by 3% in Q2 2024</a>

IPOs this week – four IPOs to hit the street this week

Equity benchmark indices <keyword id="19896382" type="General" weightage="100" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> hit their lifetime peaks in early trade on Thursday, amid firm global market trends, buying in blue-chip stocks and robust <keyword id="22282036" type="General" weightage="20" keywordseo="FIIs-inflows" source="keywords">FIIs inflows</keyword>. The 30-share <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> jumped 388.84 points to hit a record peak of 80,375.64 in early trade. Also, the Nifty climbed 114.45 points to hit a <keyword id="20376687" type="General" weightage="20" keywordseo="lifetime-high" source="keywords">lifetime high</keyword> of 24,400.95. Among the Sensex pack, <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword>, ICICI Bank, Mahindra &amp; Mahindra, Infosys, HCL Technologies and Tata Consultancy Services were the biggest gainers. HDFC Bank, IndusInd Bank, Adani Ports and <keyword id="20093248" type="General" weightage="20" keywordseo="special-economic-zone" source="keywords">Special Economic Zone</keyword>, and Bharti Airtel were among the laggards. Foreign Institutional Investors (FIIs) bought <keyword id="19925781" type="General" weightage="20" keywordseo="equities" source="keywords">equities</keyword> worth Rs 5,483.63 crore on Wednesday, according to exchange data. "The big FII buying of Rs 5,484 crore on Wednesday is largely due to the massive delivery-based buying in <keyword id="20065292" type="General" weightage="20" keywordseo="banking-stocks" source="keywords">banking stocks</keyword> led by HDFC Bank. This delivery-based buying may sustain for a few more days imparting resilience to the market. "The FIIs with 3.78 lakh long contracts have taken a 'U' turn in their market approach from the big short contracts in early June. A decline in the US 10-year bond yield to 4.35 per cent and the dollar index declining to 105.29 are positives for <keyword id="22282037" type="General" weightage="20" keywordseo="fund-inflows" source="keywords">fund inflows</keyword>," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said. Market will start responding to the Q1 results which will start flowing in from next week, he added. In Asian markets, Tokyo and Seoul were trading in the positive territory on Thursday, while Shanghai and Hong Kong were quoting lower. US markets ended higher on Wednesday during the shortened trading session. The markets are closed on Thursday on account of Independence Day. Global oil benchmark Brent crude fell 0.60 per cent to USD 86.82 a barrel. On Wednesday, the 30-share Sensex hit the historic 80,000 mark for the first time intra-day trade. It surged 632.85 points or 0.79 per cent to a record intraday high of 80,074.30. The index later closed near the 80,000 level at 79,986.80, up by 545.35 points or 0.69 per cent over the last close.

Sensex, Nifty hit fresh lifetime high levels in early trade

<keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="153" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS), has expanded its partnership with <keyword id="20167467" type="General" weightage="20" keywordseo="Rolls-Royce" source="keywords" meta.keywordsubtype="org" meta.entityname="Rolls-Royce" meta.hostid="153" meta.entityid="Rolls-Royce">Rolls-Royce</keyword>, a British multinational specialising in civil aerospace, defence aerospace, services, and power systems, to advance sustainable aviation initiatives. According to a press release, the collaboration focuses on researching <keyword id="22499621" type="General" weightage="20" keywordseo="hydrogen-fuel-system-technology" source="keywords">hydrogen fuel system technology</keyword>, reinforcing the potential of hydrogen as a zero-carbon <keyword id="20178417" type="General" weightage="20" keywordseo="aviation-fuel" source="keywords">aviation fuel</keyword> of the future. TCS will supply engineering skills and support to Rolls-Royce to tackle three key challenges in enabling hydrogen for aviation- fuel combustion, fuel delivery, and fuel system integration with an engine. All elements must be validated for safe operation. This partnership highlights TCS's commitment to driving sustainable transformation across industries, aligning with its broader mission to harness technology for positive societal impact. The International Air Transport Association (IATA) has set targets for net zero carbon emissions by 2050. Alan Newby, Director, Research and Technology, Rolls-Royce, said, "We welcome TCS to our hydrogen research programme and their engineering skills will play a valuable role in addressing our technology goals. We've already made great progress and having TCS with us gives us additional capability as we move forward on our journey to enable the energy transition for the aviation sector." The expanded partnership was announced at the Farnborough International Airshow, where TCS also showcased its technological prowess in the aviation industry. This collaboration builds on a long-standing relationship between Rolls-Royce and the Tata Group, including engine development and a robust supply chain commitment. TCS has worked with Rolls-Royce since 2010 in areas such as design, manufacturing engineering, control systems, software, after-market services, and IT services, supporting major civil and business aviation programs and the end-to-end product development lifecycle. Anupam Singhal, President - Manufacturing, TCS, said, "The partnership between TCS and Rolls-Royce is an exciting one that represents a powerful alliance in the quest for <keyword id="22500175" type="General" weightage="20" keywordseo="sustainable-aviation-solutions" source="keywords">sustainable aviation solutions</keyword>. We are aligned with Rolls-Royce's ambition for a greener future. This partnership is the perfect opportunity to put our technological strengths and passion for the environment to use for advancing innovation and fostering an eco-friendlier aerospace sector." TCS will leverage its deep domain knowledge of the aircraft manufacturing industry to support Rolls-Royce's engineering activities such as system design, component design, supply chain support, and program management. These services will help Rolls-Royce research hydrogen technology to address the challenges of fuel combustion, fuel delivery, and fuel systems integration with an engine, ensuring all elements operate safely. Regu Ayyaswamy, Senior Vice President and Global Head- Internet of Things and Digital Engineering, TCS, said, "TCS and Rolls-Royce have been partners in advancing engineering excellence for nearly a decade. The new partnership for research into hydrogen fuel systems represents a pivotal next step at a time when the aviation industry is faced with the urgent challenge of reducing carbon emissions while maintaining performance and efficiency. It aligns well with TCS' commitment to harness technology for positive societal impact and building a greener future." TCS has been on a mission to harness the power of technology for positive societal impact and drive sustainable transformation across industries. With more than 200 sustainability offerings, TCS is helping customers around the world in their sustainability journeys. As a Tata group company, TCS is also conscious of its impact on the environment. In 2021, TCS set an ambitious sustainability target to reduce its absolute emissions by 70 per cent across Scope 1 and Scope 2 by 2025 from the baseline year 2016 and to achieve net zero by 2030. By FY24, TCS had already reduced its absolute carbon footprint across Scope 1 and Scope 2 by 80 per cent over a baseline of 2016, exceeding its target achievement by 10 per cent, one year ahead of time. (ANI)

TCS collaborates with Rolls-Royce for hydrogen research programme

<ul><li>Benchmark <keyword id="19963565" type="General" weightage="20" keywordseo="equity-indices" source="keywords">equity indices</keyword> climbed in <keyword id="19949642" type="General" weightage="20" keywordseo="early-trade" source="keywords">early trade</keyword> on Wednesday amid buying in market <keyword id="20557630" type="General" weightage="20" keywordseo="blue-chip-stocks" source="keywords">blue-chip stocks</keyword> <keyword id="19936674" type="General" weightage="20" keywordseo="Reliance" source="keywords">Reliance</keyword> Industries and <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="261" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword>.</li><li>The 30-share <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> climbed 252.62 points to 76,709.21 in early trade. The NSE Nifty went up by 82.25 points to 23,347.10.</li><li>HCL Technologies, Tech Mahindra, Wipro, Power Grid, Tata Motors, Tata Steel, Tata Consultancy Services and Reliance Industries were the major gainers.</li></ul>Benchmark equity indices climbed in early trade on Wednesday amid buying in market blue-chip stocks Reliance Industries and Tata Consultancy Services. The 30-share BSE Sensex climbed 252.62 points to 76,709.21 in early trade. The NSE Nifty went up by 82.25 points to 23,347.10. Among the 30 Sensex companies, HCL Technologies, Tech Mahindra, Wipro, Power Grid, Tata Motors, Tata Steel, Tata Consultancy Services and Reliance Industries were the major gainers. Titan, Asian Paints, IndusInd Bank and Hindustan Unilever were among the laggards. In Asian markets, Seoul traded in the positive territory while Tokyo, Shanghai and Hong Kong quoted lower. US markets ended mostly higher on Tuesday. "The 32 per cent decline in India VIX during the last 5 days indicates that the days of heightened volatility are over and the market has entered a consolidation phase. From now on the focus will be on fundamentals and news flows," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. Tonight's US inflation numbers and the Fed policy outcome will influence the direction of the global equity market, he added. Global oil benchmark Brent crude climbed 0.42 per cent to USD 82.26 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 111.04 crore on Tuesday, according to exchange data. The BSE benchmark declined 33.49 points or 0.04 per cent to settle at 76,456.59 on Tuesday. In a volatile trade, the Nifty ended marginally up by 5.65 points or 0.02 per cent at 23,264.85. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/elon-musk-hits-out-at-apples-partnership-with-openai-threatens-to-ban-apple-devices/articleshow/110902477.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/elon-musk-hits-out-at-apples-partnership-with-openai-threatens-to-ban-apple-devices/articleshow/110902477.cms" target="_blank">Elon Musk hits out at Apple’s partnership with OpenAI, threatens to ban Apple devices</a><a href="https://www.businessinsider.in/tech/news/ios-18-announced-with-apple-intelligence-improved-privacy-controls-customisable-home-screen-and-more/articleshow/110883233.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/ios-18-announced-with-apple-intelligence-improved-privacy-controls-customisable-home-screen-and-more/articleshow/110883233.cms" target="_blank">iOS 18 announced with Apple Intelligence, improved privacy controls, customisable home screen and more</a><a href="https://www.businessinsider.in/business/auto/webstories/maruti-suzuki-retakes-the-top-selling-car-spot-top-10-selling-cars-in-india-in-may-2024/slidelist/110863547.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/maruti-suzuki-retakes-the-top-selling-car-spot-top-10-selling-cars-in-india-in-may-2024/slidelist/110863547.cms" target="_blank">Maruti Suzuki retakes the top-selling car spot – Top 10 selling cars in India in May 2024</a>

Markets climb in early trade amid buying in Reliance, Tata Consultancy Services

On Thursday, the <keyword id="19925636" type="General" weightage="20" keywordseo="stock-market" source="keywords">stock market</keyword> commenced its trading session on an even keel, with both the <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> indices initiating the day with minor losses. The Sensex index declined by 84.98 points, commencing at 80,166.96, whereas the Nifty index experienced a diminution of 15.35 points, initiating trading at 24,420.15. Among the constituents of the Nifty index, the market landscape exhibited a slight negative bias, with 21 stocks registering gains, 27 encountering declines, and 2 maintaining their previous values. <div type="Article" hostid="261" msid="114508632" title="Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more" mstype="2" mssubtype="0"></div> Trent, HDFC Bank, Sun Pharma, HCL Technologies, and Hero MotoCorp emerged as the <keyword id="20859131" type="General" weightage="20" keywordseo="top-gainers" source="keywords">top gainers</keyword>, showing resilience despite the cautious market sentiment. In contrast, Hindalco, SBI Life, Hindustan Unilever, Britannia, and Tata Consumer Products led the list of <keyword id="23664977" type="General" weightage="20" keywordseo="top-losers" source="keywords">top losers</keyword>. Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,684.63 crore on Wednesday. Domestic Institutional Investors (DIIs) bought equities worth ₹6,039.90 crore. Shriram Subramanian, Founder and MD of InGovern Research Services, commented on the market trend, stating, "Markets have absorbed much of the selling by FIIs as DIIs continue to buy. Some mid and small caps stocks are available at attractive valuations. <keyword id="20187215" type="General" weightage="20" keywordseo="large-cap-stocks" source="keywords">Large cap stocks</keyword> will continue to attract flows." Varun Aggarwal, founder and MD of Profit Idea, said, "The average directional index (ADX) average line is trending upward, indicating continued weakness, and options data shows a rangebound movement expected for today and tomorrow's expiry, with heightened activity around the 24,500 level." The market's subdued opening reflects a cautious outlook as investors weigh global and domestic factors, with stock-specific movements driving the day's activity. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a> <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms">Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Stock market opens flat with a marginal decline, rangebound movement expected

<ul><li><keyword id="19563904" type="General" weightage="20" keywordseo="tata-technologies-ipo" source="Orion">Tata Technologies’ IPO</keyword> opens for subscription on November 22, amidst a lot of competition.</li><li>Analysts believe that the outsourced ER&amp;D market will see good growth ahead, and say that its price band offers investors an upside.</li><li>Even though it’s a complete offer for sale, brokerages predict good earnings growth for the company going ahead. </li></ul>The initial public offer (IPO) of Tata Technologies is opening its subscription alongside four other issues. While investment bankers are confident of the ‘high-quality business’ from the House of Tatas, analysts are backing the ₹3,042 crore issue due to its prospects, business model and mostly its pricing. The grey market is also the most optimistic it’s ever been in the recent past as it predicts 70% listing gains. The engineering research and development (R&amp;D) company offers product development and digital solutions to manufacturing companies. “Its areas of expertise include product engineering and manufacturing engineering in the mechanical domain such as body engineering, while it is adding capabilities in the software and embedded engineering segments,” says a report by Emkay. This market of global outsourced ER&amp;D market was estimated to be around $105-110 billion in 2022. Moreover, the digital engineering market is expected to grow at a compounded annual growth rate (CAGR) of 16% between 2022 to 2026. Auto to EV to aviation The subsidiary of <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> is heavily focussed on the auto sector where it gets 75% of its revenues from. But its turnkey solutions can also be used across the manufacturing vertical. It has set its sights on aviation where the outsourced ER&amp;D market is as big as $9 billion per annum. “Apart from automotive, it will be a key beneficiary of tailwinds in aerospace led by capacity expansion plans of aircraft manufacturers and MRO (Maintenance, Repair, and Overhaul) activities,” says a report by IDBI Capital. The growing electric vehicle sector too is another area of focus. Prashanth Tapse, senior VP of research at Mehta Equities says that portfolio is diverse across traditional OEM’s to new-age electric vehicles. “We think outsourcing business models would be in great demand going forward in engineering services and digital transformation services to global manufacturing clients helping clients to conceive, design, develop and deliver better products,” Tapse adds. While services constitute around 80% of its revenues, it also gets 11% of revenues from products business where it re-sells third-party software applications. It also has an education vertical where it provides ‘phygital’ solutions in manufacturing skills – that nets it with 9% of revenues. Slower than peers, but better In the last three fiscal years, from FY21 to FY23, its revenue and profit after tax grew at a compounded annual growth rate (CAGR) of 36% and 62% respectively. Analysts say that the growth is a tad slow, as compared to its industry peers be it LTTS, its own group company Tata Elxsi and KPIT Cummins. “Tata Tech’s growth trajectory over FY16-23 remains slower than peers’, but has seen improvement in the last three years because of traction in select accounts. Weakness in a large client in H1FY24 due to near completion of the large full-vehicle development projects may weigh on the company’s near-term performance,” says a report by Emkay. The company had specified in its risk factors in the RHP that it’s heavily dependent on its top five clients. This also includes its anchor clients – its promoter Tata Motors, and its subsidiary, Jaguar Land Rover. <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;">Particulars </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;">FY23 </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;">FY22 </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;">FY21 </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;">Revenue from operations </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;">₹4,414 crore </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;">₹3,529 crore </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;">₹2,380.9 crore </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;">Net profit </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;">₹624 crore </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;">₹436.9 crore </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;">₹239 crore </td></tr></tbody></table>Source: RHP ‘Investor-friendly pricing’ Emkay also quickly adds that all the above issues are fairly captured in its valuations. It has set a price band of ₹475-500 for the issue. At the upper end of the price band, Tata Tech is being valued at around 32 times its FY23 EPS. The same ratio for LTTS is at 40x, Tata Elxsi at 69x, and KPIT at 110x. Most brokerage reports say that the company has left something on the table for its IPO investors. “Despite 100% OFS offer investors are keen to own the share based on group legacy. We strongly advocate a good long term prospects for the company. We recommend it from a long-term perspective as well as strong listing gain due to investor friendly pricing given good room for upside,” said Tapse. IDBI Capital too said that it expects robust earnings growth going ahead, while Ventura also says that it has good earnings growth potential. “With the gradual recovery in the global economy, rising manufacturing capex and shift in manufacturing from US/Europe/China to India due to cost inflation and China+1 strategy, we are expecting strong in the TTECH’s financial performance in the coming years,” the Ventura report said. SEE ALSO <a href="https://www.businessinsider.in/personal-finance/news/the-dark-truth-behind-rbis-crackdown-on-easy-personal-loans/articleshow/105287366.cms">The dark truth behind RBI’s crackdown on easy personal loans</a> <a href="https://www.businessinsider.in/business/news/bitten-by-inflation-indians-buying-fewer-clothes-this-season/articleshow/105179140.cms">Bitten by inflation, Indians buying fewer clothes this season</a>

Tata Technologies IPO: The price is right say analysts

New Delhi: India is set to enter a transformative "smartphone era" for cars in 2025, with the introduction of vehicles featuring 5G M2M connectivity and advanced AI technologies, according to the latest findings from Techarc's India Connected Consumer Report 2025. The report said the automotive sector will skip 4G and will enable connectivity using the latest 5G cellular technology. It observed that consumers are interested in spending money on improving the value proposition in terms of features, quality and experience rather than exploring too many smart devices. "22 per cent of the respondents shared about considering optimising their smart devices portfolio. Among the new set of categories, smart/connected cars is generating high interest among consumers. 55 per cent of the respondents said that they have come across news or information about smart/connected cars in recent times," it said. Starting in 2025, passenger cars in India will be equipped with 5G M2M connectivity, on-device GenAI, and cloud connectivity, making advanced technologies accessible across various price segments, it added. In-vehicle computing and artificial intelligence (GenAI), along with cloud applications, will become essential components of cars, enabling real-time data processing to support drivers effectively. Most cars priced at Rs 20 lakh and above will feature these technologies as standard. The cumulative revenues from automotive chipset companies have already surpassed USD 1.5 billion, with companies like Qualcomm and MediaTek leading the market. Some of the familiar applications that consumers will be able to use while driving include communication apps for audio/video conferencing, OTT entertainment apps, music streaming, podcasts, online shopping, vehicle maintenance, and servicing. "With connectivity and the technologies it brings to the cars, the future of the automobile sector will be fundamentally determined by the auto-technologies that will influence the overall experience, performance, comfort, safety and entertainment available to the drivers as well as the passengers. "So far, such features were seen as luxury or high-end experiences. But starting 2025, many of these will become mainstream for cars in India," Techarc AutoTech Analyst Sadat Ahanger said. With 22 automobile manufacturers producing nearly 5 million passenger vehicles annually in India, the country is poised to become a leader in the global 5G M2M market within the next few years, the report said. About 21 per cent of respondents said MG Motors is the leader in providing <keyword id="24016739" type="General" weightage="20" keywordseo="connected-cars-in-India" source="keywords">connected cars in India</keyword>, followed closely by Kia Motors at 18 per cent and Tata Motors at 15 per cent, it added. Hyundai and Maruti Suzuki also ranked among the top-five brands in this category. The report draws insights from a survey of 4,500 "connected consumers" across metro and non-metro cities. The report defined a connected consumer as one owning at least 3 smart devices in addition to a smartphone.

India to shift to 'smartphone era' for cars embracing 5G, advanced AI in 2025: Report

<ul><li>The QIB portion of the IPO was subscribed 200 times over on the last day. </li><li>In the last three days, Tata Tech’s grey market premiums went up to 78% from 70%.</li></ul><keyword id="194006" type="General" weightage="20" keywordseo="tata-technologies" source="Orion">Tata Technologies</keyword> initial public offer (IPO) was subscribed 69 times the shares on offer on the last day — with outsized interest from qualified institutional buyers (QIBs). The ₹3,042 crore issue from the House of Tatas has attracted a record number of applications. The QIB portion of the issue was subscribed 200 times over the shares on offer. In comparison, non-institutional and retail investors’ interest paled in comparison as these quotas were subscribed 62 times and 16 times respectively. The issue, which was backed by<a href="https://www.businessinsider.in/stock-market/news/tata-technologies-ipo-the-price-is-right-say-analysts/articleshow/105373686.cms"> most market gurus and brokerages</a>, also saw its grey market premiums climb up from 70% to 78% in the last three days. It’s expected to make its debut on the bourses next week. It also raised ₹791 crore from 67 anchor investors at the upper price band of ₹500 per equity share; before opening the issue for public. Top foreign investors like Fidelity Funds, Government Pension Fund Global and Goldman Sachs and Indian mutual funds like Aditya Birla MF, Nippon MF, Sundaram MF and more bought into the issue. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Type of investor </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;">No of times subscribed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </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;">203.41 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">62.11 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.50 </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;">Total </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;">69.43 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: BSE Investor-friendly pricing, say analysts The issue marks the debut of a Tata group company in the stock markets after a gap of 19 years, after TCS listed in 2004. The issue which opened today closes on November 24, and has fixed a price band of ₹475-500. Investors can bid for a minimum of 30 shares and in multiples thereof. The engineering research and development (eR&amp;D) company is a subsidiary of Tata Motors, which is its promoter as well as an anchor client along with Jaguar Land Rover. Its expertise goes beyond automotive where it has skills, and caters to all manufacturing clients. It’s keen on the aviation and the EV sector too. This market of global outsourced ER&amp;D market was estimated to be around $105-110 billion in 2022. Most analysts are undeterred by the fact that it’s a complete offer for sale, as they believe investors are keen on taking part in a high-quality growth business. “At upper price band of ₹500 and based on annualised earnings and fully diluted post-IPO paid-up capital, the issue is asking for a market cap of ₹20,283 crore with P/E of 29x on consolidated basis, which seems the issue is reasonably priced when compared industry peers which are trading 60x. Despite 100% OFS offer investors are keen to own the share based on group legacy,” said Prashanth Tapse, Sr VP of research at Mehta Equities. IDBI Capital too said that the company has good earnings growth potential. “With the gradual recovery in the global economy, rising manufacturing capex and shift in manufacturing from US/Europe/China to India due to cost inflation and China+1 strategy, we are expecting strong in the TTECH’s financial performance in the coming years,” said a report by Ventura. The grey market too is expecting 70% listing gains from its debut.

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