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<ul><li>The IPO of CarTrade opened on August 9 and closed on Aug 11.</li><li>CarTrade is an automotive portal for cars where customers come to buy new or used cars or to sell their cars.</li><li><keyword id="11240103" type="UNKNOWN" weightage="20" keywordseo="cartrade-ipo">CarTrade IPO</keyword> allotment can be checked through the BSE website and the LinkIntime website.</li></ul>CarTrade will be announcing the allotment of its initial public offering (IPO) on Tuesday, August 17. The IPO had opened on August 9 and ended on August 11, with a price band of ₹1585 to ₹1618 per share. The company is looking to raise ₹2998.51 crores via the public issue. CarTrade is a cross-channel auto platform with services and coverage spanning multiple vehicle categories. Customers and dealers can buy and sell vehicles through the company’s online buying and selling platforms. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1585-₹1618 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 17 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 18 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 20 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">August 23 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum order quantity </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9 equity shares </td></tr></tbody></table> There are two websites to check the CarTrade IPO allotment. One is through the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE</a> website and the other is through the <a href="https://www.linkintime.co.in/IPO/public-issues.html">LinkIntime</a> website. How to check CarTrade IPO Allotment at LinkIntime <ul><li>Log in to the <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">LinkIntime</a> website. </li><li>Select the IPO name ( CarTrade Limited ). </li><li>Choose the option from Pan Number, Application Number or Demat Account number. </li><li>Add the details as per your selection. </li><li>Click on the search button to see the CarTrade Limited IPO allotment. </li></ul>How to check CarTrade IPO Allotment at BSE <ul><li>Log in to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE</a> website in the same way. </li><li>Select the issue type as Equity and the IPO name as CarTrade Limited. </li><li>After typing the application number and pan number, click on the search button to view the CarTrade IPO allotment.</li></ul> This can be done through your demat account by checking the credited shares in the account. Or it can be checked through the bank account from which you applied. SEE ALSO <a href="https://www.businessinsider.in/business/news/paytm-ipo-former-one-97-communication-director-urges-sebi-to-stall-the-public-issue/articleshow/85293132.cms">Paytm IPO: Former One 97 Communication director urges SEBI to stall the public issue</a> <a href="https://www.businessinsider.in/tech/news/windows-11-microsoft-rolling-out-updated-snipping-tool-calculator-and-mail-apps/articleshow/85292943.cms">Windows 11 Microsoft rolling out updated snipping tool, calculator and mail apps</a>

CarTrade IPO: Here’s how to check allotment status, listing date and more

<ul><li>Shares of <keyword id="11901692" type="General" weightage="20" keywordseo="cartrade-tech-ipo" source="Orion">CarTrade Tech IPO</keyword> got listed at 1.12% discount from its price band of ₹1585-1618 per share.</li><li>The IPO was subscribed 20.29 times on the last day of the bidding.</li><li>The market capitalisation of the company stood at ₹7,333.45 crore.</li></ul>Shares of CarTrade Tech made a weak listing on the National Stock Exchange (NSE) and BSE at a 1.12% discount from its issue price of ₹1585-1618 per share. Post listing, the market capitalisation of the company stood at ₹7,333.45 crore, according to BSE data. The shares of CarTrade Tech were trading at ₹1556, 3% higher at 10.01 a.m., on August 20. The market sentiment also looked dull as benchmark indices Sensex and Nifty 50 were trading lower. The grey market price of the stock had suggested around 8-10% premium over the upper price band of ₹1618. The IPO received good demand from investors on the last day of the initial public offering (IPO) bidding process as the issue size was subscribed 20.29 times on the last day. It received bids for 26.31 crore shares as against 1.29 crore shares on offer. The issue was open for subscription between August 9 and August 11. The company is a 12-year old startup that operates online platforms like CarWale, CarTrade, BikeWale, CarTradeExchange and AutoBiz for users interested in buying and selling new and used vehicles. “CarTrade is an electronic exchange focusing on the auto sector and thus there is no peer company having similar business operations. At a higher price band...we feel it is attractive considering its scalable business model, profitable operations and business growth opportunities in the auto sector value chain,” said the report by Choice Broking . The company was looking to raise ₹3,000 crore through the listing. The company’s revenue from operations have increased at a compound annual growth rate (CAGR) rate of 26.4% over FY18-FY21. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/liquor-companies-profit-rise-on-the-back-of-rising-sales-in-spirits-segment-whiskey-rum-gin-tequila-but-beer-sales-fall/articleshow/85468879.cms">Indians drank less beer during the pandemic but liquor companies are still high on profits ⁠— here’s why</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/agritech-startup-agnext-raises-21-million/articleshow/85477895.cms">Agritech startup AgNext raises $21 million to expand into Middle East, Europe and Asia</a>

CarTrade Tech gets a dull response at the exchanges, shares list at 1.12% discount

<ul><li>Shares of Nuvoco Vistas Corp listed at ₹471 while the price band was fixed at ₹560-570 per share.</li><li>The IPO was subscribed just 1.71 times on the last day of the bidding.</li><li>The market capitalisation of the company stood at ₹16,822.05 crore.</li></ul>Shares of cement manufacturer Nuvoco Vistas Corp made a weak listing on the National Stock Exchange (NSE) and BSE as the stock listed at 17.37% discount on the issue price band of ₹560-570 apiece. Investors had expected a negative listing after the CarTrade Tech IPO had also opened at discount last week because of weak momentum in the market led by global cues. Post listing, the market capitalisation of the company stood at ₹16,822.05 crore, according to BSE data. The shares of Nuvoco Vistas Corp were trading at ₹510, lower by 10.53% at 10.00 a.m., on August 23. The grey market had hinted at a negative listing as unlisted shares of Nuvoco Vistas were commanding a marginal premium of ₹5-6 per share over the issue price of ₹570 apiece. The IPO ⁠— open between August 9 and August 11 ⁠— received tepid response from investors. It was subscribed 1.71 times on the last day of the bidding. Nuvoco, which is one of the largest cement players in east India, is a subsidiary of the Nirma Group, famous for its eponymous detergent brand. It is also one of the leading ready mix concrete manufacturers in India and has grown from being a cement focused entity to now a building materials company offering more than 50 products across cement, ready mix concrete and modern building materials sold under well-established brand names such as Concreto, Duraguard, Double Bull, ZeroM and Instamix. Analysts had recommended subscribing to the IPO issue as they are bullish on the overall cement industry. Adding to it is the fact that the company holds a dominant position in east India with 17% market share in terms of capacity. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/types-of-mutual-funds-for-investors/articleshow/85552684.cms">Looking to invest in mutual funds? Here are the different schemes you should know of</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/finance-ministry-summons-infosys-ceo-over-glitches-in-it-e-filing-portal/articleshow/85533986.cms">Finance Ministry summons Infosys CEO over glitches in IT e-filing portal</a>

Nuvoco Vistas Corp makes a weak stock market debut; lists at 17% discount on exchanges

<ul><li>Shares of <keyword id="2177564" type="PERSON" weightage="20" keywordseo="Rolex-Rings">Rolex Rings</keyword> list at ₹1,249 while the shares were allotted at ₹900 per share.</li><li>The IPO was subscribed 130.44 times on the last day of the bidding.</li><li>The market capitalisation of the company stood at ₹3,263 crore.</li></ul>Shares of Rolex Rings made a strong listing on the National Stock Exchange (NSE) and BSE at over 38% premium over the issue price of ₹900 apiece. Post listing, the market capitalisation of the company stood at ₹3,263 crore ($439 million), according to BSE data. <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;">Other listed top auto parts makers </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;">Market capitalisation </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;">Motherson Sumi </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;">₹73,496 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;">Bharat Forge </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;">₹36,525 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;">Sona BLW Precision Forgings </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;">₹25,693 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;">Mahindra CIE Automotive </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;">₹10,228 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;">Ramkrishna Forgings </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;">₹3,053 </td></tr></tbody><tbody></tbody></table>The shares of Rolex Rings were trading at ₹1,192, higher by 32% at 10.02 a.m., on August 9. The grey market showed a strong listing for Rolex Rings a day prior to the listing with a 40-45% premium. Moreover, the IPO ⁠— open between July 28 and July 30 ⁠— was a hit among investors. It was subscribed 130.44 times on the last day of the bidding. The IPO has received bids for 74.1 crore equity shares against the IPO size of 56.85 lakh equity shares. The Rajkot-based company is a manufacturer and global supplier of forged and machined components for automobile makers. The offer from the company consisted of a fresh issue of ₹56 crore and an offer for sale (OFS) by private equity firm Rivendell PE of up to 75 lakh equity shares. The company will use the IPO proceeds to fund its long-term working capital requirements and for general corporate purposes. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/cartrade-ipo-grey-market-premium-and-analysts-recommend-subscribe/articleshow/85169585.cms">CarTrade IPO ⁠— the share sale by this profitable tech startup gets a unanimous call for ‘subscribe’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/freshtohome-and-bluestone-backer-iron-pillar-is-planning-to-bring-assets-worth-1-billion-under-management/articleshow/85161486.cms">FreshtoHome and BlueStone-backer Iron Pillar is planning to bring assets worth $1 billion under management</a><h1 style="margin-bottom: 10px; padding-bottom: 15px; border-bottom: 1px solid rgb(238, 238, 238); font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 28px; line-height: 1.2em; font-family: LabGrotesque-Black, Helvetica, Arial, sans-serif; vertical-align: baseline; color: rgb(17, 21, 22); background-color: rgb(255, 255, 255);"></h1>

Rolex Rings IPO investors make 38% at listing ⁠— the auto components maker is now worth nearly half a billion dollars

<ul><li><keyword id="4306161" type="General" weightage="20" keywordseo="cars24" source="Orion">Cars24</keyword> has raised a funding of $450 million from marquee investors of the startup ecosystem.</li><li>It is reportedly valued at $1.75 billion, followed by Droom with a $1.2 billion valuation.</li><li><keyword id="1980082" type="General" weightage="20" keywordseo="cartrade" source="Orion">CarTrade</keyword>, despite being profitable, has not been able to cross the billion dollar mark.</li></ul>Gurugram-based used cars marketplace Cars24 became a unicorn last year and raised some more money now despite piling up losses. Meanwhile, its competitor CarTrade Technologies, which is profitable and listed on the stock exchanges since August, continues to be valued at less than half the estimated valuation of Cars24. <div type="image" title="Loss-making Cars24 is worth more than a profitable CarTrade ⁠— here’s why" msid="86158018" hostid="261"></div> Analysts say this could have to do with who’s investing in both companies and the latter’s international presence. Nearly three weeks after its listing, CarTrade remains an underperformer even in the stock market whereas, last week, Cars24 raised more funding and raised its valuation to somewhere between $1.72 billion to $1.75 billion. On September 10, <a href="https://entrackr.com/2021/09/exclusive-cars24-raises-259-mn-at-around-1-75-bn-valuation/" data-type="tilCustomLink">eight marquee </a>investors of the startup ecosystem pumped in $258.6 million into Cars24, which had turned into a unicorn last year in November, after raising<a href="https://www.businessinsider.in/business/startups/news/cars24-is-indias-latest-unicorn-as-it-raises-200-million-from-dst-global-and-existing-investors/articleshow/79388631.cms"> $200 million</a> in a round led by DST Global. A unicorn, in startup purlance, is a company valued over a billion dollars. Cars24 was the first startup to cross the threshold in this segment of its operation. Later it was reported that the <a href="https://www.cars24.com/blog/cars24-raisesi-450-million-nearly-doubles-its-valuation-to-1-84-billion/" data-type="tilCustomLink">round aggregated up to $450 million</a>, of which $340 milion was equity investment while $110 million was raised in debt. The company was valued at 1.84 billion post this round. It is followed by Droom, which was recently<a href="https://www.businessinsider.in/business/startups/news/droom-automobile-marketplace-raises-200-million-in-a-pre-ipo-round-at-unicorn-valuation/articleshow/84818567.cms"> valued</a> at $1.2 billion. Meanwhile, CarDekho is in advanced stages of talks to close a funding round with over $1 billion valuation. These were the investors who bet big bucks in Car24’s latest round. Kunal Khatter, managing partner at mobility-focused investment firm AdvantEdge, told Business Insider that private investors and retail investors value companies with different yardsticks. “Analysts in the public market are far more stringent on how they value and give recommendations for buy or sell, because they are answerable to the public.. On the private side, valuation is an outcome of what an incoming institutional investor thinks the company is going to be worth…” Khatter added. Ankur Bansal, co-founder of investment firm BlackSoil noted that the difference in revenue and scale of the companies has also resulted in the difference of valuations. However, valuations of public listed companies are considered as a benchmark because each analyst or firm can have different methods to value a business. Point of difference between CarTrade and Cars24 (Cars24 Services Private Limited). <table style="border-width: initial; border-style: none;" 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;">Metrics </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;">CarTrade </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;">Cars24 </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 (in FY20) </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;">₹318.4 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;">₹3,059 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;">Profit after tax/(Loss) (FY20) </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;">₹31.2 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;">(₹277.18 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;">Cities </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;">300 </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;">150 </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;">Countries </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;">India </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;">India, Australia, UAE </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Founded by Vikram Chopra, Gajendra Jangid, Ruchit Agarwal and Mehul Agrawal, Cars24 allows customers to sell their old cars through their omnichannel network. A consumer can simply book an appointment with any of the Cars24 branches, visit the branch and sell a car in a single visit. The company has recently expanded to Australia and UAE. AdvantEdge’ Khatter also noted that these two businesses, Cars24 and CarTrade, may look similar on the outside but are in fact very different at their core which has led to difference in the valuation. CarTrade also owns other platforms like CarTrade, Carwale, CarTradeExchange, Shriram Automall, Adroit Auto, Auto Biz, and BikeWale. Majority of CarTrade’s valuation comes from its three assets: Carwale, commercial trucks platform Shriram Automall and inspection business Adroit Auto, Khatter added. The whole reason why CarTrade is profitable is because of Carwale, but again it's a classification that allows you to compare prices. The other two businesses are profitable too, but don’t generate a lot of revenue, Khatter said. “They are market leaders in all these spaces, but the problem with market leaders is that there is not much room to grow,” he said. <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;">Segment </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;">CarTrade </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;">Cars24 </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;">New automobile sales </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;">Yes </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 </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;">Used car sales </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;">Yes </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;">Yes </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;">Commercial vehicles, farm and construction equipment </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;">Yes </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 </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;">Online auction platform </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;">Yes </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 </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;">Vehicles financing </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;">Yes </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;">Yes </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;">Car inspection </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;">Yes </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;">Yes </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Cars24 has also positioned itself as US-based Carvana, an online dealer of pre-owned cars, which has a market cap of $27.7 billion. “This is why foreign investors are more comfortable giving that sort of premium to Cars24,” Khatter added. On the other hand, CarTrade doesn’t have any international presence. “The original CarTrade was a business-to-business car auction platform, which banks used to liquidate assets. That’s not a real value generator because the margin is very low. They are the market leaders in that, yes, but it's a very limited tank,” he added. ALSO WATCH: Droom founder Sandeep Aggarwal's interaction with Business Insider, where he talks about the company's surging valuation, upcoming IPO and expansion plans. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> Update: Cars24 on September 20 announced that it raised $450 million, at a valuation of $1.85 billion. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/reliance-infra-reliance-industries-zomato-and-other-top-stocks-to-watch-out-for-on-september-13/slidelist/86156619.cms">Reliance Infra, Reliance Industries, Zomato and other top stocks to watch out for on September 13</a> <a href="https://www.businessinsider.in/international/news/the-first-transgender-person-elected-bishop-in-a-major-christian-church-wants-to-inspire-hope-and-expand-peoples-minds-about-trans-people/articleshow/83528986.cms">The first transgender bishop in a major Christian church wants to inspire hope and expand people's minds about trans people</a> <a href="https://www.businessinsider.in/entertainment/news/superhero-movies-have-a-deep-connection-to-9/11-and-it-shows-how-nyc-and-disney-capitalized-on-our-collective-grief/articleshow/86116230.cms">Superhero movies have a deep connection to 9/11, and it shows how NYC and Disney capitalized on our collective grief</a>

Loss-making Cars24 is worth more than a profitable CarTrade ⁠— here’s why

<ul><li>The grey market premium on <keyword id="2177564" type="PERSON" weightage="20" keywordseo="Rolex-Rings">Rolex Rings</keyword>' shares had fallen from near ₹1,450 before the IPO to a little over ₹1,300 a share now. </li><li>The stock will list on BSE and NSE tomorrow (August 9).</li><li>The auto components maker, which is currently under a debt restructuring programme, got tremendous response for its IPO from retail and institutional investors. </li><li>Check out the latest news and updates only on <a href="https://www.businessinsider.in/" data-type="tilCustomLink" target="_blank">Business Insider</a>. </li></ul>The shares of Rolex Rings will list on the stock exchanges, both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on August 9 after ₹731 crore initial public offering (IPO). Here is how you can check <keyword id="11815911" type="UNKNOWN" weightage="20" keywordseo="rolex-rings-ipo-allotment">Rolex Rings IPO allotment</keyword> status : <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select 'Rolex Rings‘.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘Glenmark Life Sciences ’. </li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Rolex Rings makes components that go into automobiles. The company is under a corporate debt restructuring (CDR) cell as it was unable to pay its debt on time to banks and financial institutions. You can read the details of the company's financial health <a href="https://www.businessinsider.in/stock-market/news/rolex-rings-ipo-to-help-company-for-payment-of-loan-and-interest/articleshow/84818263.cms" data-type="tilCustomLink" target="_blank">here</a>. However, institutional investors subscribed for 143.5 times the number of shares allotted for the category during the IPO. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 451.276pt;" 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;">Category of 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;">IPO subscription (compared to shares offered) </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;">Institutional </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;">143.5 times </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 </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;">360.11 times </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;">24.49 times </td></tr></tbody><tbody></tbody></table> The grey market premium (GMP) on Rolex Rings' shares had reduced to a little over ₹1,300 a share compared to the near ₹1,450, which was the prevailing price before the IPO, according to reports. Grey market premium, typically, affects the price at which the shares are likely to list. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/cartrade-raises-rs-900-crore-from-anchor-investors-ahead-of-its-ipo-issue-opens-on-monday/articleshow/85123261.cms">CarTrade raises Rs 900 crore from anchor investors ahead of its IPO, issue opens on Monday</a> <a href="https://www.businessinsider.in/stock-market/news/zomato-indigo-paints-bectors-food-ujjivan-small-finance-bank-and-other-hot-stocks-that-have-lost-steam-since-listing/articleshow/84964352.cms" data-type="tilCustomLink" target="_blank">Don’t subscribe to an IPO just because it saw great interest from institutional investors ⁠— Indigo Paints, Mrs Bectors Food, and Ujjivan are examples to look at</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/what-if-vodafone-idea-dies/articleshow/85127937.cms">What if Vodafone Idea dies?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/neeraj-chopra-the-spearman-of-india/slidelist/85130069.cms">Neeraj Chopra — the ‘SpearMan’ of India</a>

Check if Rolex Rings shares have been allotted to your account

<ul><li>The phrase "<keyword id="14520" type="General" weightage="100" keywordseo="black-friday" source="Orion">Black Friday</keyword>" was first used by Philadelphia's police departments in the 1950s. </li><li>Black Friday primarily refers to the sales period during or right after <keyword id="32170" type="General" weightage="20" keywordseo="thanksgiving" source="Orion">Thanksgiving</keyword>, where brands go all guns blazing, claiming to offer heavily discounted prices online and offline. </li><li>Even in India, retailers are offering discounts on mobiles, apparel, white goods, electronics to name a few. </li></ul>A month before the arrival of <keyword id="6454936" type="General" weightage="50" keywordseo="santa-claus" source="Orion">Santa Claus</keyword>, and a day after Thanksgiving comes a day that’s very important to buyers and sellers alike – Black Friday. The day which kicks off the Christmas shopping season is known for its deep discounts, sales and product launches. The concept of having a sale on Black Friday originated from the United States – the country which celebrates Thanksgiving. But it wasn’t always associated with shopping. The phrase Black Friday was first used by Philadelphia's police departments in the 1950s to name the chaos that followed Thanksgiving. At that time, a football game would draw hundreds of suburban tourists into the city, which would be problematic for the police to control. However, there is another bleak reason why the phrase was coined. On Friday, September 24, 1869, plummeting gold prices dragged down the American stock markets, sending thousands into bankruptcy. “The crash was a consequence of an attempt by financier Jay Gould and railway magnate James Fisk to corner the gold market and drive up the price,” as per the <a href="https://www.britannica.com/story/why-is-it-called-black-friday">Encyclopedia Britannica</a>. Thankfully, currently Black Friday primarily refers to the sales period where brands go all guns blazing, claiming to offer heavily discounted prices on appliances, fashion, gadgets and more. This year, the Black <keyword id="15591763" type="General" weightage="50" keywordseo="friday-sale" source="Orion">Friday Sale</keyword> begins from Friday, November 25 and ends on Monday, November 28 - which also happens to be <keyword id="1461657" type="General" weightage="20" keywordseo="cyber-monday" source="Orion">Cyber Monday</keyword> i.e. when deals on electronic devices fall on the first Monday after Thanksgiving. Black Friday in India too India, which just got done with its own festive season sale lasting a month between September 22 to October 23, is also leaving no chance to jump onto the bandwagon. Amazon, Croma, TataCliq, Myntra, and Flipkart are some of the companies offering Black Friday deals. And, a large number of steep deals are being offered in the fashion category, especially for Western wear. TataCliq is offering up to <a href="https://www.tatacliq.com/black-friday-prebuzz?cid=af:homepage:RED+PIXELS+VENTURES+LIMITED:hasoffers:15032017">85% discount</a> for premium <a href="https://www.business-standard.com/article/companies/tata-cliq-luxury-plans-black-friday-sale-from-november-23-at-a-large-scale-122112100797_1.html">brands</a> like Kate Spade, Calvin Klein, Lacoste, <keyword id="226977" type="General" weightage="50" keywordseo="michael-kors" source="Orion">Michael Kors</keyword>, Aldo, <keyword id="15616962" type="General" weightage="50" keywordseo="dune-london" source="Orion">Dune London</keyword>, Hoka. H&amp;M is offering 30% off on Black Friday and other brands like <keyword id="4291829" type="General" weightage="50" keywordseo="zara-india" source="Orion">Zara India</keyword>, <keyword id="567332" type="General" weightage="50" keywordseo="puma-india" source="Orion">Puma India</keyword>, Adidas are also offering at least 40% discounts on its products, both online and offline. Myntra Black Friday haul is between November 25-27 presenting discounts of flat 70% on 1.5 lakh styles with brands like Mango, Marks &amp; Spencer and more. Retailers and brands both are offering deals in electronics too. Noise (smartwatches, Airpods), Steam and PlayStation are offering deals on gaming equipment and offers on PC gaming titles. Croma India will give discounts on white goods, home appliances, Apple MacBook (starts ₹77,090), iPads (starting at ₹25,000) and iPhones (starting at ₹56,990) at discounted prices. It began its Black Friday sale from 18 November which will conclude on 27 November. Flipkart is kickstarting its Black Friday deals from November 25, offering 50-inch smart TVs beginning from ₹23,999. List of companies offering Black Friday and Cyber Monday Sales in India: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Duration of Black Friday Sales 2022 </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;">Myntra Black Friday Haul 2022 </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;">November 25-27 </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;">Croma Darkest Black Friday Sale </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;">November 18-27 </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 CliqLuxury Black Friday Sale 2022 </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;">November 23-28 </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;">Noise Black Friday Sale 2022 </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;">November 22-25 </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;">Flipkart Black Friday Sale 2022 </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;">November 25-30 </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;">Adidas India Black Friday Sale </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;">November 25-27 </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;">Puma Black Friday Sale </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;">November 25-28 </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;">Zara Black Friday Sale </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;">November 25-28 </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;">H&amp;M Black Friday Sale </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;">November 25 </td></tr></tbody></table> Too Good to be true? Recheck deal, says FBI With sales come scams, and this time dark entities are doing the rounds on the web looking to cash in on the festive fervour to shop online. The Federal Bureau of Investigation or FBI has given a warning on frauds that are lurking in the guise of offers. It is essential to check the official legitimacy of websites, according to Jeffrey R Downey, Special Agent in Charge of the FBI El Paso Field <a href="https://www.gadgetsnow.com/tech-news/planning-to-shop-in-blackfriday-and-cyber-monday-sales-fbi-has-a-warning/articleshow/95753579.cms">Office</a>. In addition, fake social media surveys during sale festivities are opening gateways to mine personal information. Fraudulent gift cards, unverified donations to charity organisations online, fake job postings, offers for free smartphones are some other ways unassuming customers are tricked. (with inputs from ANI) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/adani-to-raise-rs-20000-cr-through-fresh-share-issue/articleshow/95764529.cms">Adani to raise Rs 20,000 cr through fresh share issue</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/uniparts-indias-836-crore-ipo-to-open-on-november-30/articleshow/95764556.cms">Uniparts India’s ₹836 crore IPO to open on November 30</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/a-year-after-market-debut-paytm-is-the-worst-performer-among-recent-large-ipos-cartrade-policybazaar-and-lic-join-the-party/articleshow/95762071.cms">A year after market debut, Paytm is the worst performer among recent large IPOs – Cartrade, Policybazaar and LIC join the party</a>

Black Friday: The sales, scams and myths

<ul><li>Indian auto companies are looking at mixed demand momentum after making merry post the festive season boost in October.</li><li>The festive boost last month lifted the number of registrations across the passenger vehicles (PV), commercial vehicles (CV) and tractors segments in the range of 35-66% when compared to October 2019.</li><li>However, PV sales are off to a slow start in the marriage season in November, despite an increase in discounts.</li><li>Two-wheeler registrations are also still below pre-Covid levels, but the urban markets are driving the demand for scooter and premium motorcycles, say analysts.</li></ul>Indian auto companies are looking at mixed demand momentum after making merry post the festive season boost in October. Retail data suggests that trends remain mixed across segments like two-wheelers, passenger vehicles, and commercial vehicles. The<a href="https://www.businessinsider.in/business/auto/news/indian-car-makers-drive-the-festive-boom-two-wheelers-showing-signs-of-revival/articleshow/95257140.cms"> festive boost in October</a> lifted the number of registrations across the passenger vehicles (PV), commercial vehicles (CV) and tractors segments in the range of 35-66% when compared to October 2019, according to a report by Jefferies. While the marriage season has set in now, a report by Yes Securities states that passenger vehicles are off to a slow start in November despite an increase in discounts compared to October. Commercial vehicles are also seeing an increase in inventories across companies, the report stated, adding “Large fleet operators have staggered their delivery schedules while retail customers' contribution is yet to come in full swing.” <cmsannotation type="cmsannotation" annotationid="Two-wheeler registrations still below pre-Covid levels" comment="subhead" text="Two-wheeler registrations still below pre-Covid levels">Two-wheeler registrations still below pre-Covid levels</cmsannotation> Two-wheeler registrations are still below pre-Covid levels, with Hero MotoCorp and TVS Motors expected to report a sequential decline in sales in the range of 14.2-17.9%, according to Yes Securities. In October, an Elara Securities<a href="https://www.businessinsider.in/business/auto/news/indian-car-makers-drive-the-festive-boom-two-wheelers-showing-signs-of-revival/articleshow/95257140.cms"> report</a> stated that Hero MotoCorp reported a 17% decline in its overall sales, while Bajaj Auto reported a 10% decline. The only gainer was TVS Motors, which reported a 1.5% increase year-on-year. Now, according to Yes Securities, overall two-wheeler retail sales could decline between 5-8% in November when compared to October. On a year-on-year basis, though, it notes that there could be flat to high-single digit growth. “Compared to the past few months, 2W demand saw some bounce back during this festive season. However, the registrations were far from reaching the pre-pandemic levels in 2019,” said Nikunj Sanghi, former president, Federation of Automobile Dealers Associations of India (FADA). <cmsannotation type="cmsannotation" annotationid="Marriage season off to a slow start, SUVs perform relatively better" comment="subhead" text="Marriage season off to a slow start, SUVs perform relatively better">Marriage season off to a slow start, SUVs perform relatively better</cmsannotation> The Yes Securities report observes that the trend of entry-level cars struggling has continued through November. Additionally, hatchbacks are also seeing a slow uptake from customers. Sports utility vehicles (SUV), on the other hand, are seeing relatively better demand. However, companies are still facing supply chain issues, which is hampering their overall sales. “PVs are still facing supply challenges in premium variants impacting overall model mix at retail level,” the report stated. <cmsannotation type="cmsannotation" annotationid="Higher discounts on entry-level cars as inventory builds up" comment="subhead" text="Higher discounts on entry-level cars as inventory builds up">Higher discounts on entry-level cars as inventory builds up</cmsannotation> Car makers are now offering higher discounts on entry-level cars as they attempt to reduce the inventory build-up, which has now increased to over 15 days, according to the Yes Securities report. For instance, <keyword id="44883" type="General" weightage="20" keywordseo="Maruti-Suzuki" source="Orion">Maruti Suzuki</keyword> has increased discounts in the range of ₹5,000-10,000, while Tata Motors is offering up to ₹10,000-15,000 more discounts in November, when compared to October. Overall, Maruti Suzuki, Tata Motors, and Mahindra &amp; Mahindra are offering discounts and benefits in the range of ₹28,000-65,000, depending on the car being bought. <cmsannotation type="cmsannotation" annotationid="Rural recovery signs visible" comment="subhead" text="Rural recovery signs visible">Rural recovery signs visible</cmsannotation> Rural India, a critical market especially for two-wheeler and tractor makers, is showing signs of a recovery, according to analysts at Motilal Oswal. “Rural recovery resulted in a healthy 26% and 30% YoY growth in 2W and tractor retails during festive season, respectively, even as secondary 2W dealers (mainly non-urban) saw strong demand revival,” the research firm said. The firm noted that despite the demand revival in the festive season, “full normalcy is yet to be achieved.” It added that urban markets continue to see better demand than rural markets, which reflects in the scooter and premium motorcycle segments’ growth. For instance, Royal Enfield’s Hunter 350, a premium motorcycle, has seen its waiting period increase from 1 month to 2.5-3 months, with dealer confidence seeing a sharp increase. “Channel partners we spoke to are indicating high confidence post launch of Hunter with their volumes are ~15% lower than FY18 levels but are back to FY19 levels,” the Yes Securities report stated. <cmsannotation type="cmsannotation" annotationid="Tighter cash flows and slower uptake leading to inventory build-up of trucks" comment="subhead" text="Tighter cash flows and slower uptake leading to inventory build-up of trucks">Tighter cash flows and slower uptake leading to inventory build-up of trucks</cmsannotation> Commercial vehicles like trucks continue to witness an inventory build-up, with the key market of the northern belt witnessing under-utilisation, according to Yes Securities. Making matters worse and adding to the uncertainty is the ban on construction activities in the Delhi-NCR region, and schools being shut due to pollution. This has impacted the demand for both buses and trucks, according to analysts. According to Yes Securities, tighter cash flows due to an increase in working capital requirements, customers have delayed delivery plans of booked vehicles, adding to the build-up of inventories. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/indian-car-makers-drive-the-festive-boom-two-wheelers-showing-signs-of-revival/articleshow/95257140.cms">Indian car makers drive the festive boom, two-wheelers showing signs of revival</a> <a href="https://www.businessinsider.in/stock-market/news/a-year-after-market-debut-paytm-is-the-worst-performer-among-recent-large-ipos-cartrade-policybazaar-and-lic-join-the-party/articleshow/95762071.cms">A year after market debut, Paytm is the worst performer among recent large IPOs – Cartrade, Policybazaar and LIC join the party</a> <a href="https://www.businessinsider.in/stock-market/news/india-vix-cools-down-to-pre-covid-levels-heres-why-and-where-it-is-headed/articleshow/95743166.cms">India VIX cools down to pre-Covid levels – here’s why and where it is headed</a>

Mixed demand trends for autos in November as festive boost wears off but signs of rural recovery visible

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> overcame<a href="https://www.businessinsider.in/stock-market/news/indian-markets-open-lower-amid-unrest-in-china-over-zero-covid-paytm-adani-transmission-hero-motocorp-in-focus/articleshow/95815834.cms"> early-morning jitters</a> to scale <a href="https://www.businessinsider.in/stock-market/news/nifty50-hit-new-all-time-highs-bharat-petroleum-reliance-industries-surge-metal-stock-drag/articleshow/95822928.cms">new peaks</a> – at 62,701 and 18,614 respectively. </li><li>Both the indices also registered new record closings on Monday. </li><li>Bharat Petroleum and <keyword id="6355199" type="General" weightage="100" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> emerged as the top gainers on the Nifty50, adding ₹62,700 crore in market capitalisation. </li><li>A cool down in crude oil prices, healthy flows in SIPs and resilient performance by India Inc in Q2 are some of the factors driving the indices, analysts said. </li><li>Analysts recommend investors remain disciplined and balanced in their approach to equity investments, instead of making any extreme movements. </li></ul>India’s benchmark indices Sensex and Nifty50 came off new life-time peaks to close higher on Monday, buoyed by the oil and gas sector while shrugging off negative cues from Asian markets. State-run Bharat Petroleum (<keyword id="44555" type="General" weightage="80" keywordseo="bpcl" source="Orion">BPCL</keyword>) and Reliance Industries emerged as the top gainers, while metal stocks dragged. The Sensex and the Nifty50 overcame<a href="https://www.businessinsider.in/stock-market/news/indian-markets-open-lower-amid-unrest-in-china-over-zero-covid-paytm-adani-transmission-hero-motocorp-in-focus/articleshow/95815834.cms"> early-morning jitters</a> to scale <a href="https://www.businessinsider.in/stock-market/news/nifty50-hit-new-all-time-highs-bharat-petroleum-reliance-industries-surge-metal-stock-drag/articleshow/95822928.cms">new peaks</a> – at 62,701 and 18,614 respectively, making it the fifth consecutive day of gains. The indices outperformed Asian markets and closed up 0.27-0.34% higher – marking a record high closing for the Sensex and the Nifty50 at 62,505 and 18,563 points, respectively. Amongst the key triggers driving the indices are a cool down in crude oil prices, healthy flows in systematic investment plans (SIP), and resilient performance by India Inc in Q2, analysts said. Brent crude oil prices were hovering around $81 per barrel, falling 3.2% today on worries about demand from China as the country sees a rise in Covid-19 cases. “Nifty clocked fresh all-time highs on November 28 going against the global cues. Progressive and prudent macro policies, resilient corporate earnings in Q2FY23, robust tax collections, early signs of recovery in IIP and GDP and first signs of cooling inflation have all excited investors including FPIs (foreging portfolio investors) to keep pumping money into the markets,” said Deepak Jasani, head of retail research, HDFC Securities. Amongst the major sectoral gainers were fast moving consumer goods (FMCG), auto and PSU banks. While the IT sector was amongst the top gainers earlier in the day, it closed marginally in the red. Metal stocks lost shine today, with the index declining 1.14%. The Rupee closed flat at 81.66, against 81.68 on Friday. Bharat Petroleum, Reliance Industries, Hero MotoCorp, Tata Consumer, and SBI Life were the top gainers on the Nifty50 index today – gaining between 1.84% to 5.04%. Bharat Petroleum and Reliance Industries together added ₹62,700 crore in market capitalisation. Here are the top gainers and losers on the Nifty500 index on Monday: <div type="image" title="daily-profit-loss-5" msid="95830090" hostid="261" sizebytes="51130"></div> <cmsannotation type="cmsannotation" annotationid="Analysts recommend discipline and balance" comment="subhead" text="Analysts recommend discipline and balance">Analysts recommend discipline and balance</cmsannotation> Analysts recommend investors remain disciplined and balanced in their approach to equity investments, and refrain from making any extreme movements. “Indian markets are defying global weakness and touching all-time highs. This is on the back of renewed interest from foreign institutional investors as the Indian decoupling story continues to play out. However, one must also realise that as we continue to see better growth rates than the world, our valuations too are priced at those premiums,” said Srikanth Subramanian, CEO, Kotak Cherry. On the BSE, advances outnumbered declines – 1,185 stocks ended higher while 815 closed in the red. <cmsannotation type="cmsannotation" annotationid="Asian markets see red" comment="subhead" text="Asian markets see red">Asian markets see red</cmsannotation> Most of the major Asian markets declined on Monday, with Hong Kong’s Hang Seng index posting the biggest decline at 1.57% and Taiwan’s TWSE Capitalization Index posting a 1.5% fall. The Shanghai Composite Index closed 0.75% in the red, while South Korea’s KOSPI fell 1.21%. “Global stock markets traded lower after a series of protests in China over the weekend, against strict mobility restrictions to combat the country’s ongoing Covid outbreak, hit sentiment and threatened to weigh on economic activity,” Jasani said. <cmsannotation type="cmsannotation" annotationid="Buoyant festive demand, cooling crude oil prices amongst tailwinds for Indian economy" comment="subhead" text="Buoyant festive demand, cooling crude oil prices amongst tailwinds for Indian economy">Buoyant festive demand, cooling crude oil prices amongst tailwinds for Indian economy</cmsannotation> According to Ajay Menon, MD and CEO, broking and distribution, Motilal Oswal, the buoyancy in festive demand, which has boosted the auto sector among others, is expected to continue thanks to the marriage season. This year’s festive season was also the first uninterrupted one since 2020, giving buyers enough reason to splurge. For instance, the auto sector has seen <a href="https://www.businessinsider.in/business/auto/news/indian-car-makers-drive-the-festive-boom-two-wheelers-showing-signs-of-revival/articleshow/95257140.cms">registrations</a> of passenger vehicles, commercial vehicles and tractors for October rise 35-66% from the 2019 levels. On the jobs front, too, around 4,000 openings were posted every day during the festive season, which saw the<a href="https://www.businessinsider.in/careers/news/over-2-lakh-jobs-created-each-day-this-festive-season-says-report/articleshow/95204035.cms"> creation of 2 lakh jobs</a>. Foreign institutional investors (FII) were net buyers on Monday, ploughing in ₹936 crore, while domestic institutional investors (DII) bought equities worth ₹88 crore. <div type="image" title="sectoral-indices-5" msid="95830105" hostid="261" sizebytes="49266"></div> SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/digital-lending-platforms-see-3x-year-on-year-rise-in-disbursals-to-14016-crore-in-q2-fy23/articleshow/95821140.cms">Digital lending platforms see 3x year-on-year rise in disbursals to ₹14,016 crore in Q2 FY23</a> <a href="https://www.businessinsider.in/stock-market/news/a-year-after-market-debut-paytm-is-the-worst-performer-among-recent-large-ipos-cartrade-policybazaar-and-lic-join-the-party/articleshow/95762071.cms">A year after market debut, Paytm is the worst performer among recent large IPOs – Cartrade, Policybazaar and LIC join the party</a> <a href="https://www.businessinsider.in/stock-market/news/india-vix-cools-down-to-pre-covid-levels-heres-why-and-where-it-is-headed/articleshow/95743166.cms">India VIX cools down to pre-Covid levels – here’s why and where it is headed</a>

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