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New Delhi: After a wave of initial public offerings (IPOs) in recent weeks, the primary market will experience a brief slowdown, with only two new public issues scheduled for the next week, aiming to raise Rs 365 crore. There were 12 IPOs in the mainboard segment and 40 in the SME (small and medium enterprise) segment in September. IPOs scheduled for next week, beginning October 7, are <keyword id="22922418" type="General" weightage="20" keywordseo="Garuda-Construction" source="keywords">Garuda Construction</keyword> and Engineering on the main board and <keyword id="23436926" type="General" weightage="20" keywordseo="Shiv-Texchem" source="keywords" meta.keywordsubtype="org" meta.entityname="Shiv Texchem" meta.hostid="153" meta.entityid="Shiv Texchem">Shiv Texchem</keyword> on the SME segment. Garuda Construction is seeking to raise Rs 264 crore, and Shiv Texchem is aiming for over Rs 101 crore through their respective IPOs available for public subscription during October 8-10. The stock market has seen a significant correction in the <keyword id="19911354" type="General" weightage="20" keywordseo="equity-market" source="keywords">equity market</keyword> since the start of October amid intensifying conflict between Israel and Iran. Despite the temporary slowdown, overall, the outlook for the <keyword id="19926041" type="General" weightage="100" keywordseo="IPO-market" source="keywords">IPO market</keyword> is promising, with 26 firms proposing to raise Rs 72,000 crore presently holding Sebi's approval while another 55 companies looking to garner about Rs 89,000 crore are awaiting the regulator's clearance, according to the Primedatabase. This month will see <keyword id="19908548" type="General" weightage="20" keywordseo="Hyundai-Motor-India" source="keywords">Hyundai Motor India</keyword> Ltd, the Indian arm of South Korean automaker Hyundai, hitting the primary market to raise around Rs 25,000 crore. The company's IPO is likely to be launched on October 14, according to sources. If the offering proceeds as planned, it will surpass Life Insurance Corporation's (LIC) public offering of Rs 21,000 crore, becoming the largest IPO in India's history. Moreover, 63 companies have already mobilised around Rs 64,000 crore via mainboard, marking a 29 per cent increase from Rs 49,436 crore collected by 57 firms through the route in 2023. The strong momentum in IPO markets is being driven by several key macroeconomic, sector-specific factors and the willingness of funds to look at new ideas. In particular, strong inflows into domestic mutual funds and robust capital formation across corporate India are playing key roles, experts said. Garuda Construction and Engineering's IPO is a mix of fresh issue of 1.83 crore equity shares and an offer of sale (OFS) of 95 lakh equity shares by promoter PKH Ventures. The price band has been fixed at Rs 92 to Rs 95 per share. About Rs 100 crore from its fresh issuance proceeds will be utilised for working capital requirements and the balance towards general corporate purposes, including unidentified inorganic acquisitions. Shiv Texchem's IPO is a completely new offering of over 61 lakh shares and is a book-built issue of Rs 101.35 crore. It has set a price band of Rs 158 to Rs 166 per equity share for the IPO. Further, the SME IPO of Khyati Global Ventures, which opened for public subscription on October 4, will close on October 8. Additionally, six companies from the SME segment are set to list in the coming week. HVAX Technologies and Saj Hotels will debut on October 7, followed by Subam Papers and Paramount Dye Tec on October 8. NeoPolitan Pizza and Foods will begin trading on October 9, with Khyati Global Ventures to follow on October 11.

IPO market braces for brief slowdown, 2 new issues targeting Rs 365 crore next week

New Delhi: <keyword id="20081557" type="General" weightage="20" keywordseo="auto-industry" source="keywords">Auto industry</keyword> players are eyeing robust performance in the ongoing festive period to lift overall consumer sentiment and set the tone for the rest of the year amid slowing demand. The festive season usually commences with Onam and ends with Diwali every year. <keyword id="20034542" type="General" weightage="100" keywordseo="Kia-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Kia India" meta.hostid="153" meta.entityid="Kia India">Kia India</keyword> National Head of Sales and Marketing Hardeep Singh Brar told PTI that the last 3-4 months were not good for the industry as sales declined compared to the same period last year. "With pent-up demand of the last few months there and government investment starting to flow in, we feel things should start improving from here onwards," he noted. Brar said the booking momentum in September was good, which is a strong indication for October. "And this time, all festivals are in October..we expect about 5-10 per cent sales growth during the period as compared to last year," he added. Brar said that in the January-April period, the passenger vehicle industry witnessed a growth of 7 per cent, but in May-September, there was a dip of about 2-3 per cent, leading to the buildup of inventory. <keyword id="20505895" type="General" weightage="20" keywordseo="Nissan-Motor" source="keywords" meta.keywordsubtype="org" meta.entityname="Nissan Motor" meta.hostid="153" meta.entityid="Nissan Motor">Nissan Motor</keyword> India Managing Director Saurabh Vatsa said the entire industry is looking at the festive season to bring some cheer after witnessing tough three months. "I think it has been a challenging period. The festive period will define the quarter, and the third quarter will define what happens in the remaining part of the year," he said. Everybody is looking forward to the festive seasons, especially from the industry, he added. <keyword id="19967765" type="General" weightage="20" keywordseo="Toyota-Kirloskar-Motor" source="keywords" meta.keywordsubtype="org" meta.entityname="Toyota Kirloskar Motor" meta.hostid="153" meta.entityid="Toyota Kirloskar Motor">Toyota Kirloskar Motor</keyword> Vice President, Sales-Service-Used Car Business, Sabari Manohar said the company is witnessing enhanced footfalls and enquiries. "Key to meeting this rising demand has been our strategic operational improvements, such as the introduction of a third shift. This has significantly optimised our supply chain, particularly for high-demand models like the Urban Cruiser HyRyder, where waiting periods have been reduced," he said. Additionally, there is a clear shift in sentiment, with an increasing embrace of eco-friendly technologies, not only in urban areas but also in Tier II and Tier III markets, Manohar said. <keyword id="19909974" type="General" weightage="20" keywordseo="Maruti-Suzuki" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki" meta.hostid="153" meta.entityid="Maruti Suzuki">Maruti Suzuki</keyword> India Senior Executive Officer (Marketing and Sales) Partho Banerjee said the company is trying to increase its sales by bringing in some limited edition models. He noted that during Ganesh Chaturthi and Janmashtami, the company witnessed good traction in sales and has been able to generate volumes as per the business requirements. <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="153" meta.entityid="Tata Motors">Tata Motors</keyword> Passenger Vehicles MD Shailesh Chandra said in its monthly sales statement that registrations have picked up pace towards the end of the month (September), which augurs well for the festive period ahead. "We remain focused on driving up consumer preference for our exciting range of vehicles while maintaining the health of our dealer network," he added.

Carmakers expect festive period to bring in robust sales, improve overall buyer sentiment

Both <keyword id="19896381" type="General" weightage="100" keywordseo="nifty" source="keywords">Nifty</keyword> and <keyword id="19896382" type="General" weightage="20" keywordseo="sensex" source="keywords">Sensex</keyword> got off to a slow start, with <keyword id="19896381" type="General" weightage="100" keywordseo="nifty" source="keywords">Nifty</keyword> trading at 23,864.35 points, down by 0.02% and <keyword id="19896382" type="General" weightage="20" keywordseo="sensex" source="keywords">Sensex</keyword> trading at 78,749.51 points, up by 0.096 % as of 9:57 am. As for sectoral indices, Nifty bank, auto, IT, financial services, FMCG, PSU, private bank and oil and gas opened the day in red, while media, realty, pharma and metal managed to gain early ground. <cmsannotation type="cmsannotation" annotationid="Stocks in Action" comment="subhead" text="Stocks in Action">Stocks in Action</cmsannotation> <keyword id="19963567" type="General" weightage="20" keywordseo="ultratech-cement" source="keywords" meta.keywordsubtype="org" meta.entityname="ultratech cement" meta.hostid="261" meta.entityid="ultratech cement">UltraTech cement</keyword> informed the exchange that it has purchased 7.06 crore equity shares, or about 23% of <keyword id="22197392" type="General" weightage="20" keywordseo="india-cement-limited" source="keywords" meta.keywordsubtype="org" meta.entityname="india cement limited" meta.hostid="261" meta.entityid="india cement limited">India Cement Limited</keyword>'s equity share capital. The deal was finalised at Rs 267 per share. Stocks of <keyword id="19963567" type="General" weightage="20" keywordseo="ultratech-cement" source="keywords" meta.keywordsubtype="org" meta.entityname="ultratech cement" meta.hostid="261" meta.entityid="ultratech cement">UltraTech Cement</keyword> were trading at Rs 11,830, up by 6.16% during early morning trade. After JSW Steel announced yesterday that it will be spending around $110 million on upgrading its Texas-based manufacturing facility to produce specialised steel products required by the US government to meet its offshore wind energy targets, the stock was trading at Rs 936.55, up by 1.89% Grasim, Dr. Reddy's, JSW Steel and Tata Steel were amongst the other stocks that were trading in green this morning. On the other hand, <keyword id="19967472" type="General" weightage="20" keywordseo="mahindra" source="keywords">Mahindra</keyword> and <keyword id="19967472" type="General" weightage="20" keywordseo="mahindra" source="keywords">Mahindra</keyword>, HCLTech, Wipro and Apollo hospitals were trading in red during early morning trade. <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> announced that it is partnering with <keyword id="19955371" type="General" weightage="20" keywordseo="bajaj-finance" source="keywords" meta.keywordsubtype="org" meta.entityname="bajaj finance" meta.hostid="261" meta.entityid="bajaj finance">Bajaj Finance</keyword> to enter the commercial vehicle financing space. Reports suggest that the company is looking to introduce a host of consumer finance products and embedded insurance by the end of this year. During early trade today, <keyword id="19955371" type="General" weightage="20" keywordseo="bajaj-finance" source="keywords" meta.keywordsubtype="org" meta.entityname="bajaj finance" meta.hostid="261" meta.entityid="bajaj finance">Bajaj Finance</keyword>'s stock was trading at Rs 7,193.75, up by 0.5%. According to Mr. Aditya Gaggar, director of Progressive Shares, "select buying in heavyweight counters helped the index end the session at yet another record level of 23,869. With an extremely overbought reading in the Auto sector, we continue to hold our stance of correction in the form of profit booking (2W &amp;3W); however, buying interest can be seen in the Ancillary stocks. Reliance-led rally pushed the energy sector higher; the sustainability of the momentum will depend on follow-up buying. Britannia and GodrejCP look strong in the FMCG segment. Some more downside is still left in the metal and real estate sectors. Agro/specialty chemicals and textile stocks are gaining momentum, so one should keep an eye on the same." Sameet Chavan, Head of Research, Technical and Derivatives at Angel One, asks traders to stay agile and regularly shift focus between themes. "for the last two sessions, heavyweight counters have driven the market higher, with <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords" meta.keywordsubtype="org" meta.entityname="reliance" meta.hostid="261" meta.entityid="reliance">Reliance</keyword> up more than 4% in yesterday's session, significantly contributing to the benchmark's rise. In this scenario, midcaps have taken a back seat, with no major traction seen from their end. We believe the shift in momentum and sector rotation will continue.".

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IPO market braces for brief slowdown, 2 new issues targeting Rs 365 crore next week

PTI

Carmakers expect festive period to bring in robust sales, improve overall buyer sentiment

PTI

Market Morning: JSW Steel, UltraTech Cement in action

Ira Alok Puranik

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