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Reliance Industries, Rossari Biotech, Tata Power and other stocks to watch out for on June 3

<ul><li><keyword id="8830896" type="UNKNOWN" weightage="20" keywordseo="Rossari-Biotech">Rossari Biotech</keyword> listed at ₹677.10 on the bourses, with an upside of 59% </li><li>The Mumbai-based speciality chemical maker, Rossari Biotech’s IPO, was subscribed 79 times, with non-institutional investors leading the charge.</li><li>The IPO was issued at a price band of ₹425.</li></ul>The ₹496 crore IPO of Rossari Biotech had a bumper listing today. The stock added nearly 16.4% in a few hours of its listing debut. The IPO was issued at a price band of ₹425, but it listed at ₹677.10, with an upside of 59% <div type="image" title="Copy of Rossari (1)" msid="77124535" hostid="261"></div> Its market cap rose to ₹3,981 crore. A total traded quantity of 18.36 lakh shares changed hands on BSE amounting to a turnover of ₹128.14 crore. The Mumbai-based speciality chemical maker, Rossari Biotech’s IPO, was subscribed 79 times, with non-institutional investors leading the charge, oversubscribing by almost 240 times. Non-institutional investors are those who bid more than ₹2 lakh in an IPO. The reason behind the bumper listing is the company's wide variety of customers ranging from FMCG and apparel to poultry and animal feed industries to companies that make home and personal care products. Some of the significant customers include HUL, Panasonic India, RSPL Ltd, IFB Industries Ltd. and Millennium Papers. <div type="Youtube" id="F5N4v_XPbR0" title="Rossari Biotech is hiring ⁠— and the company’s average salary is ₹10 lakh per year" thumbUrl="https://i.ytimg.com/vi/F5N4v_XPbR0/mqdefault.jpg"></div> SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/asian-paints-share-price-this-may-be-the-worst-summer-for-sales-and-profit/articleshow/77119613.cms" data-type="tilCustomLink"> Shareholders await Asian Paints’ account of a lost summer</a> <a href="https://www.businessinsider.in/finance/banks/news/indian-public-sector-bank-employees-get-15-wage-hike-and-performance-linked-incentives-after-three-years-of-waiting/articleshow/77114388.cms" data-type="tilCustomLink">Indian public sector bank employees get 15% wage hike and performance-linked incentives after three years of waiting</a>

Stellar listing for Rossari Biotech - stock price surges over 16% on listing day

<ul><li><keyword id="8830896" type="UNKNOWN" weightage="20" keywordseo="Rossari-Biotech">Rossari Biotech</keyword> — the chemicals company that had a blockbuster IPO in 2020 — is planning to acquire its peer company <keyword id="11369058" type="COMPANY" weightage="20" keywordseo="unitop-chemicals">Unitop Chemicals</keyword> for ₹421 crore.</li><li>The company’s share price is up by 2.5% on June 3 after announcing its plans.</li><li>Operating in the same sector, Rossari can add Unitop Chemicals’ production capacity of 86,000 million tonnes per year to its own without having to make too many changes.</li><li>Rossari will be digging into its own coffers to fund the transaction with 65% equity being acquired on closure and the rest coming in over the next two years.</li></ul>Rossari Biotech — the maker of household products like Vim, Rin and Surf for brands owners like <keyword id="6365619" type="COMPANY" weightage="20" keywordseo="hindustan-unilever">Hindustan Unilever</keyword>, Dabur and others — has announced plans to acquire its peer Unitop Chemicals for a sum total of ₹421 crore. The company’s share price is up by 2.5% as of 12:30pm on June 3, after the announcement. "We believe the acquisition will be EPS [earnings per share] accretive for Rossari," said Edelweiss in its report dated June 2. Simply put, the financial services company believes that Unitop and Rossari are a good fit and the acquisition will result in gradual growth. <div type="image" title="infibeam share price(1)" msid="83198900" hostid="261" caption="&amp;lt;p&amp;gt;Rossari Biotech stock since the launch of its IPO in July 2020&amp;lt;/p&amp;gt;"></div> As per the plan approved by the board, Rossari will be buying up 100% of Unitop Chemicals’ equity capital. 65% of it will be acquired upon closure of the transaction and the rest will be balanced over the next two years. “Unitop Chemicals is a natural fit with our operations and brings with it immense synergies and complementary growth dimensions,” said Rossari’s executive chairman Edward Menezes and managing director Sunil Chari in a joint statement. <cmsannotation type="cmsannotation" annotationid="Here’s what Rossari will gain from Unitop" comment="subhead" text="Here’s what Rossari will gain from Unitop">Here’s what Rossari will gain from Unitop</cmsannotation> Since both companies are in the chemical manufacturing space, they use similar technology, require the same talent in their employees and dabble in the same verticals. For instance, Unitop Chemicals’ expertise is in manufacturing surfactants — the kind found in detergents, wetting agents, emulsifiers, and so on. This is one of Rossari’s four core chemistries. Moreover, Unitop Chemicals has three manufacturing sites and its main facility in Dahej is near Rossari’s existing facility in the area. Overall, Rossari will be able to capitalise on Unitop’s production capacity of 86,000 million tonnes per annum (MTPA) to boost its own output. And, while the two companies work in the same arena, there is little overlap in end-users. This means Unitop Chemicals' customers will be an entirely new set of clients for Rossari to monetise with cross-selling and will help expand the company's market reach. Wodehouse Capital was the exclusive financial advisor to Unitop Chemicals for the deal. Rossari does not plan on raising any debt for this transaction. It will be funding the investment using the cash it already has on its balance sheets. In April, Rossari raised ₹300 crore through the preferential issue of equity shares. This is after the company went public in July 2020 and was one of the hottest initial public offerings (IPO) of the year, listing at a premium of 59%. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/backed-by-mukesh-ambani-infibeam-expects-business-to-grow-manifold-to-100-billion-dollars/articleshow/83111869.cms">INTERVIEW: With a partner like Mukesh Ambani's Jio, Infibeam expects to hit $100 billion in online transactions in the next 5 years</a> <a href="https://www.businessinsider.in/stock-market/economy/news/indias-gdp-has-contracted-five-times-since-1947-but-never-as-bad-as-7-3/articleshow/83135455.cms">India’s GDP has contracted five times since 1947, but never as bad as 7.3%</a> <a href="https://www.businessinsider.in/business/corporates/news/infosys-new-insider-trading-case-shows-that-employees-made-rs-3-crore/articleshow/83144170.cms">Here's how Infosys employees shared insider information that turned a chunky profit of ₹3 crore</a>

Here's why Rossari Biotech bought Unitop Chemicals for ₹421 crore

<ul><li>The earnings showed a 7.4% increase in standalone profit after tax to ₹15.2 crore.</li><li>The company’s overall revenue from operations declined 14.3% to ₹109.4 crore. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The Mumbai-based speciality chemical maker <keyword id="8830896" type="UNKNOWN" weightage="20" keywordseo="Rossari-Biotech">Rossari Biotech</keyword> just went through a super hot IPO, and an even better listing. However, its first quarterly earnings as a listed entity was much less exciting. Rossari recorded 14.3% fall in revenue to ₹109.4 crore but its net profit grew 7.4% to ₹15.2 crore as the cost of goods consumed in the making of its products fell by nearly a third. The input cost was the biggest saving in the latest earnings report. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rossari Biotech </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Standalone earnings </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 7.4% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-14.30% </td></tr></tbody></table> Rossari makes popular household products like Vim, Rin, Ciff and Surf for the brand owners like Hindustan Unilever, Dabur, IFB, Arvind, Raymond, and many more to name a few. “In-home care, personal care and performance, we have 3 verticals. In one vertical, we make the ingredients, and these ingredients go into soap, detergents, paper, pulp, ceramic and tiles. They may constitute between 2-10% of the total product,” Rossari Biotech executive chairman and co-founder, Edward Menezes told Business Insider in a pre-listing conversation. <div type="image" title="Rossari Profit (1)" msid="77677315" hostid="261"></div> It was a bumper listing for Rossari, the shares made its debut on July 23, listing almost 57% higher on BSE against the issue price of ₹425. The IPO was held from <a href="https://www.businessinsider.in/stock-market/markets/news/rossari-biotech-share-price-could-touch-rs-600-after-grey-market-premium-of-over-40/articleshow/77108191.cms">July 13 to July 15 and was the first of its kind after </a>COVID impacted the Indian stock-market. Since then, shares have been riding on positive sentiments. It has gained nearly 8% since its listing and ended over 4% higher ahead of the earnings today. <div type="image" title="Rossari" msid="77676927" hostid="261"></div> The company was also a top mid and small-cap buy of mutual funds in July. <a href="https://www.livemint.com/mutual-fund/mf-news/pi-industries-rossari-biotech-were-top-mid-small-cap-buys-of-mutual-funds-11597882131864.html">According to reports</a>, the mutual funds also bought the newly listed speciality chemical stock Rossari Biotech worth ₹407 crore. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/heres-a-look-at-the-top-ipos-lined-up-to-hit-the-market-this-year/slidelist/77241351.cms">Here’s a look at the top IPOs lined up to hit the market this year</a> <a href="https://www.businessinsider.in/stock-market/markets/news/rossari-biotech-ipo-analysis-and-comparison-with-camlin-fine-srf-and-clariant/articleshow/76953016.cms">Rossari Biotech IPO⁠— 40 scientists, China, and other factors that make the share sale hot</a>

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Reliance Industries, Rossari Biotech, Tata Power and other stocks to watch out for on June 3

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Stellar listing for Rossari Biotech - stock price surges over 16% on listing day

Navdeep Yadav

Here's why Rossari Biotech bought Unitop Chemicals for ₹421 crore

Prabhjote Gill

Inside Rossari Biotech earnings: Input cost falls twice as much as revenue

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