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<ul><li>Indigo’s parent company <keyword id="300127" type="COMPANY" weightage="20" keywordseo="Interglobe-Enterprises">InterGlobe Enterprises</keyword> has expressed its interest in acquiring the bankrupt Virgin Australia.</li><li>The company has said that it has signed an agreement to participate in the sale of the collapsed airline.</li><li>IndiGo had earlier denied reports that it is interested in placing a bid for the company.</li></ul>Just a few days after Indigo <a href="https://www.businessinsider.in/business/news/indigo-share-price-jump-after-airline-denies-interest-in-virgin-australia/articleshow/75688856.cms">denied</a> reports that it is interested in placing a bid for the collapsed airline Virgin Australia, its parent company InterGlobe Enterprises has now confirmed that it has signed an agreement to participate in the sale of the bankrupt airline. The stock fell nearly 2% on Friday (May 15), marking the third straight day of decline. <div type="image" title="Indigo share price chart" msid="75753279" hostid="261" caption="&amp;lt;p&amp;gt;Indigo share price in May 2020&amp;lt;/p&amp;gt;"></div> “As regards Virgin Australia, InterGlobe Enterprises has signed an agreement to participate in the sale process and is bound by the confidentiality requirements of that agreement. We are unable to say anything further at this stage.“ said InterGlobe Enterprises. <div type="Article" hostid="261" msid="75688856" title="IndiGo shares take off after airline denies interest in Virgin Australia" mstype="2" mssubtype="0"></div> Earlier on May 12, IndiGo denied reports that said it was in talks to acquire. “We deny the contents of these reports and would like to clarify that the Company has not formulated any indicative proposal, nor does it have any interest in this matter,” said a statement from IndiGo on Tuesday morning. IndiGo’s share price jumped by 2.66% after the announcement. Virgin Australia had filed for bankruptcy in April 2020 after its debts piled to $6.8 billion to over 12,000 creditors which includes employees. The company had requested the Australian government for financial aid, but its request was turned down, pushing its towards bankruptcy. The airline industry has been badly hit as the COVID-19 pandemic has grounded domestic and international planes. Due to the mounting losses, IndiGo had announced pay cuts for its employees. The company said that its senior employees would get a pay cut of upto 25% for 2020-21 and also rolled out a leave without pay plan. As per a Bloomberg report, Virgin Australia’s airline administrator Deloitte expects eight indicative offers, out of which, three will be shortlisted and asked to submit a binding offer. No other airline has expressed interest in Virgin Australia and InterGlobe Enterprises is expected to compete against asset management companies, private equities and investment firms for the bankrupt airline. See also: <a href="https://www.businessinsider.in/business/corporates/news/indigo-and-spicejet-await-rent-relief-thanks-to-crisis-at-boeing-and-airbus/articleshow/75657494.cms">IndiGo and SpiceJet await rent relief – thanks to crisis at Boeing and Airbus</a> <a href="https://www.businessinsider.in/business/corporates/news/after-goair-and-spicejet-indigo-cuts-salaries-for-employees-ceo-says-there-was-no-other-option/articleshow/75618031.cms">After GoAir and SpiceJet, IndiGo cuts salaries for employees ⁠— CEO says there was ‘no other option’</a>

IndiGo’s backflip takes shares down⁠— parent InterGlobe confirms it is looking to bid for the bankrupt Virgin Australia

<ul><li>Shares of most paint makers have fallen in the last five days after one of the leading players, Asian Paints, reported a slowdown in profit on concerns over rising raw material prices.</li><li>Moreover, the market leader expects the increase in raw material prices to persist for some more time, which will eventually impact profits.</li><li>Raw material prices have been pushed up due to the high crude oil prices</li></ul>More than the excitement for anticipated demand during Diwali, an Indian festival, paint manufacturers are worried about the rising raw material prices hitting their profitability. The concern over rising costs elevated after one of the leading players, Asian Paints, reported a fall in profit due to high raw material prices, which is further expected to remain high for some time. Raw material prices have been pushed up due to the high crude oil prices. Note that half of the material used by paint companies are crude oil derivatives. Asian Paints reported a decline in net profit to ₹595 crore in September, below analysts’ expectations. "Steep inflation seen in raw material prices, since the beginning of this calendar year, has been phenomenal and has impacted gross margins across all businesses in the quarter," said Amit Syngle, managing director and chief executive of Asian Paints in a statement to an exchange on October 21. The commentary on rising cost inflation hit shares of other paint makers fearing slowdown in profitability in the near term. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></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;">Paint manufacturers </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;">Returns in 5 days </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;">Berger Paints </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;">-14% </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;">Asian Paints </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;">-10% </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;">Kansai Nerolac </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;">-10% </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;">Pidilite Industries </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% </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;">Shalimar Paints </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;">-7% </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;">Indigo Paints </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;">-3% </td></tr></tbody><tbody></tbody></table> “Higher input prices will keep margins of the paint companies in the near term,” said a report by broking house Sharekhan. Adding to it, global chip shortage could impact supply of tinting machines which are key for paint dealers. The chip shortage could <a href="https://www.livemint.com/market/mark-to-market/paint-manufacturers-may-face-disruption-from-chip-shortage-11632765366605.html">reportedly</a> impact the supply of tinting machines and the expansion plans of paint companies. These machines help shops create different shades of paints within the store, in line with the requirement of customers. Dealers who use tinting machines do not have to hold large amounts of shades in stock. “We expect delays in (the supply of) tinting machines to remain for a few quarters for most paint companies. We expect less impact on top two companies, Asian Paints and Berger Paints, as they already have a high tinting machine penetration compared to smaller peers," said analysts at Edelweiss Securities, <a href="https://www.livemint.com/market/mark-to-market/paint-manufacturers-may-face-disruption-from-chip-shortage-11632765366605.html">reportedly</a>. With steep inflation in input costs weighing on profitability, paint companies may announce further price hikes and pass on the burden to consumers. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-lost-subscribers-for-the-first-time-in-10-quarters-but-theres-good-news-for-mukesh-ambani-in-this-too/articleshow/87251614.cms">Reliance Jio lost subscribers for the first time in 10 quarters but there's good news for Mukesh Ambani in this too</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/bad-loans-at-icici-bank-have-never-been-this-low-in-the-last-seven-years/articleshow/87250046.cms">Bad loans at ICICI Bank have never been this low in the last seven years</a>

Paint makers stress over high raw material costs and fewer tinting machines even as festive demand picks up

<ul><li>IPOs like Indigo Paints, Mrs Bectors Food, Chemcon Speciality Chemicals which got huge institutional demand during IPOs are down 14%-27% since listing.</li><li>Some of the IPOs where institutional players subscribed for more than 100 times the shares on offer, are in deep red right now.</li><li>Ujjivan Small Finance is one among such stocks, which is down 44% after more than a year of going public.</li></ul>Initial public offerings (IPOs) that get huge demand from institutional players are believed to be more valuable as investors trust their stock picking skills. However, this does not stand true in some cases. The Zomato IPO, for instance, saw institutional investors oversubscribing the issue by over 52 times. The shares of Zomato have gained over 6% since the listing. While one has to wait and watch if the stock lives up to the expectations, there are many other examples that show that the excitement of institutional investors does not assure good returns for retail investors who buy and hold shares. Some of the recent superhit IPOs like Indigo Paints, Mrs Bectors Food, Chemcon Speciality Chemicals, Ujjivan Small Finance Bank received more than 110 times subscription from qualified institutional buyers (QIBs). Commercial banks, public financial institutions, mutual fund houses and foreign portfolio investors registered with India’s market regulator Securities and Exchange Board of India (SEBI) fall under this category. These stocks ⁠— where institutional players subscribed for more than 100 times the shares offered to them during the IPO, are in deep red right now ⁠— did see a bumper listing. However, not all of them have gone on to create wealth over a longer period of time. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></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;">Stock </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;">Oversubscription by institutional investors </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;">Change since listing </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;">No of months since listing </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;">Tatva Chintan Pharma Chem </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;">185.23x </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;">7% </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;">Two days </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;">Clean Science &amp; Technology </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;">156.37x </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;">6.4% </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;">11 days </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;">G R Infraprojects </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;">168.58x </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;">-0.6% </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;">11 days </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;">Shyam Metalics </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;">155.71x </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;">15.23% </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;">1 month </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;">Nazara Technologies </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;">103.77x </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;">10.85% </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;">4 months </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;">Laxmi Organic Industries </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;">175.43x </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;">59% </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;">4 months </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;">MTAR Technologies </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;">164.99x </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;">33.86% </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;">4.5 months </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;">Indigo Paints </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;">189.57x </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;">-16.59% </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;">6 months </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;">Mrs Bectors Food </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;">176.85x </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;">-27.89% </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;">7 months </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;">Chemcon Speciality Chemicals </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;">113.54x </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;">-14.37% </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;">10 months </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;">Ujjivan Small Finance Bank </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;">110.72x </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;">-44.42% </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;">19 months </td></tr></tbody><tbody></tbody></table>Note: ‘x’ denotes the number of shares subscribed for, over and above the total offered Among others, Indigo Paints’ IPO also made a strong listing on exchanges as the prospects of the paints industry looked good. And it is good for players like Asian Paints, whose stock has surged 71% in the last one year. <div type="image" title="asian paint and indigo paint chart" height="900" width="1200" msid="84964395" hostid="261"></div> However, for Indigo paints the bummer came from the over $50 billion <a href="https://www.businessinsider.in/business/corporates/news/birla-is-making-asian-paints-and-berger-paints-change-colours-and-its-bad-news-for-those-who-got-shares-in-indigo-ipo-too/articleshow/80451063.cms">Aditya Birla Group</a>, which announced its intent to enter the paint business soon after the IPO. Aditya Birla group’s flagship company Grasim has announced to foray into the paint business with capital infusion of ₹5,000 crore over three years. <div type="image" title="grasim indus chart" height="900" width="1200" msid="84964418" hostid="261"></div> It was the second wave of COVID-19 pandemic that dented the stock of Ujjivan Small Finance Bank, which listed at over 50% premium to the issue price. The shares of the company have slipped 44% since listing as investors feared that many of its borrowers may not be able to repay their loans. A similar pain is visible in the bottomline of <a href="https://www.businessinsider.in/stock-market/news/britannia-tata-motors-maruti-suzuki-and[%E2%80%A6]tocks-to-watch-out-for-on-august-2/slidelist/84962973.cms">Bandhan Bank</a> ⁠— which leads in lending to the microfinance segment ⁠— which shrank nearly a third in the April-June 2021 quarter. The <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">$73 million IPO</a> of the biscuit and bakery products maker Mrs Bectors Food was a hit⁠ — subscribed over <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-shares-are-down-32-from-the-peak-post-listing-analysts-say-it-is-still-overpriced/articleshow/80430865.cms">198 times</a>. It was the top IPO by subscription in 2020. After its listing on December 24, the stock had started declining. <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-shares-are-down-32-from-the-peak-post-listing-analysts-say-it-is-still-overpriced/articleshow/80430865.cms">Analysts </a>had said the stock was overpriced and even expected correction. <div type="image" title="bector foods" height="900" width="1200" msid="84964433" hostid="261"></div> According to an Axis Securities’ IPO note released in December, the company holds mere 1% of the market share in the branded biscuit segment, whereas its other listed peer Britannia has about 28% share of the pie. And as feared, the April-June quarter was bad even for Britannia, which saw its profit shrink by nearly 29% despite measures to curb costs. Meanwhile, Laxmi Organics has gained 59% since its listing on March 25, 2021. The company is the largest manufacturer of ethyl acetate ⁠— used as a solvent in paints and perfumes, for instance ⁠— with over 30% market share in product category. <div type="image" title="Laxmi organic" height="900" width="1200" msid="84964453" hostid="261"></div> In July, Tatva Chintan Pharma Chem, G R Infraprojects and Clean Science and Technology made a strong listing with over 100% premium. Let us see how these stocks turn out to be in the coming months. SEE ALSO: <a href="https://www.businessinsider.in/business/news/oyo-founder-ritesh-agarwal-and-zomato-founder-deepinder-goyal-invest-in-unacademy-valuation-crosses-3-billion/articleshow/84963709.cms">The founders of OYO and Zomato pump in money to make edtech startup Unacademy worth $3.4 billion ⁠— a ten fold jump in 18 months </a> <a href="https://www.businessinsider.in/business/news/exclusive-indias-largest-zinc-miner-is-eyeing-a-share-of-the-bangladesh-economic-boom/articleshow/84963388.cms">EXCLUSIVE: India's largest zinc miner Hindustan Zinc is eyeing a share of the Bangladesh economic boom </a>

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

<ul><li>Madras High Court has reportedly allowed the winding down petition filed by <keyword id="48085" type="General" weightage="20" keywordseo="credit-suisse" source="Orion">Credit Suisse</keyword> AG against the airline for a default of $20 million.</li><li>Due to this, shares of its competitor Interglobe Aviation (<keyword id="6354706" type="General" weightage="20" keywordseo="indigo" source="Orion">Indigo</keyword>) surged nearly 4% on Tuesday.</li><li><keyword id="6358032" type="General" weightage="20" keywordseo="spicejet" source="Orion">SpiceJet</keyword>’s stock was down 0.2% at ₹68.70.</li></ul>Debt-laden SpiceJet’s woes are not over yet as the Madras High Court has <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/hc-allows-winding-up-plea-against-spicejet-by-credit-suisse-ag/articleshow/88134533.cms">reportedly </a>allowed the winding petition filed by Credit Suisse AG against the airline for a default of $20 million. Further, the court has asked the official liquidator (Credit Suisse) to take over the assets of SpiceJet on the grounds of inability to repay debts by the airline. <div type="image" title="spiceet" height="900" width="1200" msid="88165010" hostid="261"></div> Apparently, Credit Suisse had approached the court to receive the payment on behalf of Switzerland-based <keyword id="1548061" type="General" weightage="20" keywordseo="sr-technics" source="Orion">SR Technics</keyword> from SpiceJet. SR Technics is a maintenance, repair and operations service provider for aircraft, engines and components. Following this, shares of its competitor Interglobe Aviation (Indigo) surged nearly 4% on December 7. <div type="image" title="indigo 2" height="900" width="1200" msid="88164984" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/zoho-is-selling-its-video-calling-app-in-as-many-ways-as-possible/articleshow/88137006.cms">Zoho is selling its video calling app in as many ways as possible</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/these-are-the-states-with-confirmed-cases-of-omicron-covid-19-strain-in-india/slidelist/88138240.cms">Omicron in India — Maharashtra and Rajasthan have recorded 19 positive cases so far</a>

Indigo stock gains as a plea to shut down SpiceJet has been admitted

<ul><li>Sequoia Capital-backed <keyword id="3903861" type="PERSON" weightage="20" keywordseo="Indigo-Paints">Indigo Paints</keyword> listed at ₹2607, which is at a 75% premium to the set price band at ₹1,488-1,490 per share.</li><li>The company’s market value expanded to ₹12,188 crore after the listing.</li><li>The ₹1,000 crore share sale concluded with the subscription of a little over 117 times the offer value on January 22.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>It was a blockbuster debut for the ₹1,000 crore initial public offering (IPO) of Sequoia Capital-backed Indigo Paints on the bourses today. The stock listed at ₹2607, which is at a 75% premium to the set price band at ₹1,488-1,490 per share. Within minutes after listing, the shares of Indigo Paints lost nearly 3% of their value and were trading at ₹2521 apiece at 10:05 am in an otherwise robust market. <div type="image" title="IRFC share (1)" msid="80643718" hostid="261"></div> The company’s market value expanded to ₹12,188 crore after the listing. The bumper listing was already on the cards! The <keyword id="10263001" type="UNKNOWN" weightage="20" keywordseo="indigo-paints-ipo">Indigo Paints IPO</keyword> garnered a super response from investors at the time of subscription. The ₹1,000 crore share sale concluded with the subscription of a little over 117 times the offer value on January 22. And, despite the grey market premium fizzling out a bit, the shares commanded a premium of ₹850-900 today. The grey market premium plunged nearly 10% last week after<a href="https://www.businessinsider.in/business/corporates/news/birla-is-making-asian-paints-and-berger-paints-change-colours-and-its-bad-news-for-those-who-got-shares-in-indigo-ipo-too/articleshow/80451063.cms"> Birla Group-owned Grasim announced its foray</a> into the paint business. The entry of a top billionaire like Birla was not a risk investors had factored in at the time of subscription. <div type="image" title="Paint market share (3)" msid="80643634" hostid="261"></div> The IPO was attractively priced, and nearly all brokerages firms had given it a ‘subscribe’ rating as the Pune-based paint maker emerged as a tight competition to much larger peers like Asian Paints and Berger Paints in recent years. Indigo Paints is a relatively small player with a 2% market share, but its profit has grown significantly, nearly four times in the last three years. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/markets-on-fire-post-union-budget-2021-sensex-zooms-over-22000-points-nifty-reclaims-14000-mark/articleshow/80630163.cms" data-type="tilCustomLink">Markets on fire post Union Budget 2021: Sensex zooms over 2,200 points, Nifty reclaims 14,000 mark</a> <a href="https://www.businessinsider.in/budget/news/india-budget-2021-updates-and-highlights-from-nirmala-sitharaman-speech/articleshow/80624564.cms" data-type="tilCustomLink">Union Budget 2021 highlights: Pensioners over 75 years need not file IT returns, says FM</a>

India’s fifth-largest paint maker Indigo Paints IPO lists at 75% premium over the issue price

<ul><li>The 30-share BSE index opened 176.87 points higher, and the NSE Nifty was up 0.45% at 13,172.80.</li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian equity benchmark indexes rallied in early trade to hit a fresh intraday record on Thursday, tracking gains in index majors HDFC Bank, Reliance Industries and Maruti amid largely positive cues from global markets. The 30-share BSE index opened 176.87 points higher, and the NSE Nifty was up 0.45% at 13,172.80. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAIL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td></tr></tbody></table>*as of December 3, 10:00 am These are the top stocks in news today. HDFC Life gains nearly 2% The shares of HDFC Life gained nearly 2% after<a href="https://economictimes.indiatimes.com/markets/stocks/news/standard-life-to-sell-27-8-million-shares-of-hdfc-life-on-thursday/articleshow/79533414.cms"> media reports claimed</a> that Standard Life is looking to sell up to 2.78 crore shares of HDFC Life through a block deal today to raise up to ₹1,770 crore. The sale price has been fixed at ₹605-636.50 apiece. Wipro opens a percent higher The shares of Wipro opened over a percent higher after the company bagged a multi-year contract from Verifone, a global leader in payments and commerce solutions, to drive agility across its cloud services offerings. IndiGo trades 2% higher The shares of India’s largest private airline IndiGo gained over 2% after the company said it has reached 70% of its pre-Covid capacity and is operating 1,000 daily international and domestic flights. DHFL locked in 5% upper circuit The shares of cash-strapped DHFL were locked in a 5% upper circuit after the Committee of Creditors for cash-strapped DHFL had voted in favour of inviting revised bids. And, December 14 has been set as the new deadline to submit bids. Tata Chemicals gained over 6% The shares of Tata Chemicals gained over 6% after Tata Sons bought shares worth ₹76 crore in the company. RIL and Future Retail trade in green The share of RIL and Future Retail were trading in the green territory after the Indian market regulator <a href="https://www.livemint.com/news/india/sebi-asks-bse-to-clarify-on-noc-to-ril-future-deal-11606901705869.html">SEBI has asked the BSE</a> to clarify on the no-objection-certificate (NOC) given by the exchange to the Future Group for amalgamation of some of its business as part of the ₹24,713 crore deal by Reliance Industries’ retail arm. SpiceJet gains over 2% The shares of India’s largest cargo operator gained over 2% after the company expressed it intends to expand the cargo business considerably over the next two years, after great success during the pandemic. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/burger-king-grey-market-premium-and-heres-what-brokerages-say-about-the-ipo-opening-tomorrow/articleshow/79508730.cms" data-type="tilCustomLink">Burger King India IPO opens today — brokerages recommend ‘subscribe’ on attractive valuations</a> <a href="https://www.businessinsider.in/india/news/delhi-chalo-no-breakthrough-in-talks-government-seeks-farmers-objections-suggestions-on-farm-laws/articleshow/79521894.cms" data-type="tilCustomLink">Delhi Chalo: No breakthrough in talks, government seeks farmers' objections, suggestions on farm laws</a> <a href="https://www.businessinsider.in/science/news/china-just-landed-its-change-5-spacecraft-on-the-moon-the-mission-could-bring-moon-rocks-to-earth-for-the-first-time-in-40-plus-years-/articleshow/79520221.cms" data-type="tilCustomLink">China just landed its Chang'e-5 spacecraft on the moon. The mission could bring moon rocks to Earth for the first time in 40-plus years.</a>

Sensex, Nifty hit record high — these are the top movers in trade today

<ul><li>Sequoia Capital-backed <keyword id="3903861" type="PERSON" weightage="20" keywordseo="Indigo-Paints">Indigo Paints</keyword> ₹1,000 crore IPO will open on January 20 and remain open for subscription until January 22. </li><li>The price band for the IPO has been set at ₹1488-1490 per share.</li><li>The Pune-based company is the fifth-largest company in the decorative paints segment in terms of revenue for fiscal year 2020. It has an extensive distribution network across the country. </li><li>Keshav Lahoti, Associate Equity Analyst at Angel Broking, said, “If the issue is priced reasonably, we expect a good response for this IPO.”</li></ul>Sequoia Capital-backed Indigo Paints is set to launch its ₹1,000 crore IPO next week. The issue will open on January 20 and remain open for subscription until January 22. The price band has been set at ₹1488 - ₹1490 per share. The bids can be made for a minimum of 10 equity shares and in multiples of 10, thereafter. The company received capital markets regulator Sebi’s approval for an initial public offering last week. This will make it the second offering to hit the public market in 2021, after <a href="https://www.businessinsider.in/stock-market/news/indian-railway-finance-corporation-irfc-ipo-will-open-on-january-18-and-remain-open-till-january-20/articleshow/80247173.cms">IRFC</a>. The public issue consists of fresh issue of equity shares as well as an offer for sale, through which the existing shareholders will be selling part of their stake. <keyword id="10263001" type="UNKNOWN" weightage="20" keywordseo="indigo-paints-ipo">Indigo Paints IPO</keyword>: Offer Size <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fresh issue of shares </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">upto ₹3,000 million </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sequoia Capital India IV </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 million shares </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SCI Investments </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.1 million shares </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hemant Jalan </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.67 million shares </td></tr></tbody></table>Source:<a href="https://www.sebi.gov.in/filings/public-issues/jan-2021/indigo-paints-limited_48724.html"> Red herring prospectus (RHP)</a> The company has appointed Kotak Mahindra Capital Company, Edelweiss Financial Services and ICICI Securities as the book running lead managers to the issue. The proceeds of the issue will be used for expansion of the existing manufacturing facility at Pudukkottai in Tamil Nadu, purchase of tinting machines and gyro shakers, and repayment/prepayment of borrowings. The Pune-based firm is the fifth-largest company in the Indian decorative paints segment in terms of revenue for fiscal year 2020. It has three manufacturing facilities located in Rajasthan, Kerala and Tamil Nadu. HDFC Securities in an earlier IPO note said that making inroads into the paints industry with a small number of firms remains a herculean task, given strong distribution moats of the top few. “Against this backdrop, Indigo Paints (founded in 2000) has been consistently chipping away market share within the ecosystem.” Indigo Paints’ revenue and profitability has consistently improved over the last few years. HDFC Securities also noted that the company has ‘smartly executed its revenue ramp-up’ and that reflects in the company’s improving fundamentals. <div type="image" title="Indigo Paints" msid="80248734" hostid="261"></div> Keshav Lahoti, Associate Equity Analyst at Angel Broking in a written statement to Business Insider also said that “If the issue is priced reasonably, we expect a good response for this IPO.” Even the shares are piping hot in the grey market ahead of the price band announcement. The shares were trading at a premium of <a href="https://www.ipowatch.in/2021/01/indigo-paints-ipo-gmp-ipo-grey-market.html">₹800-820</a> in the grey market. The grey market premium is the measure of the extra amount that the market is ready to pay for a newly listed company’s shares. However, it is not an official measure of the market premium. But it is a fair indicator of demand for the shares in the market. SEE ALSO:<a href="https://www.businessinsider.in/budget/news/budget-2021-may-be-an-opportunity-to-help-indian-electric-vehicles-to-compete-with-elon-musks-tesla/articleshow/80243751.cms" data-type="tilCustomLink"> India needs Elon Musk’s Tesla as well as local electric cars to compete⁠ — here’s what Finance Minister’s Budget 2021 may do</a> <a href="https://www.businessinsider.in/business/startups/news/amid-all-the-bitcoin-hype-another-indian-cryptocurrency-startup-coinswitch-kuber-gets-15-million-in-funding/articleshow/80245564.cms" data-type="tilCustomLink">Amid all the Bitcoin hype, another Indian cryptocurrency startup CoinSwitch Kuber gets $15 million in funding</a>

Indigo Paints ₹1,000 crore IPO opens on January 20 — price band set at ₹1488-1490 per share

<ul><li>RBI’s growth optimism is driving markets to fresh highs in trade today </li><li>Sensex scaled 45,000 mark for the first time ever, and the Nifty 50 too hit a fresh high at 13,222.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian equity benchmark indexes have hit a fresh on Friday, after the Reserve Bank of India revised the GDP growth outlook for the second half of the year. Sensex scaled 45,000 mark for the first time ever, and the Nifty 50 added 0.68% to a fresh high of 13,222. RBI has <a href="https://www.businessinsider.in/policy/economy/news/rbi-governor-shaktikanta-das-believes-that-inflation-is-likely-to-remain-elevated-in-the-winter-months/articleshow/79559454.cms">raised </a>the growth outlook, sees 7.5% GDP contraction for FY21. RBI Governor Shaktikanta Das said the growth will enter the positive territory in the third quarter of current fiscal with a projection that GDP may grow at 0.1% and the growth will further improve in Q4 to 0.7%. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UltraTech Cement </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RIL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddy </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grasim </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Airtel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paint </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td></tr></tbody></table>*as of December 4, 10:51 am These are the top stocks in news today. Bharti Airtel shares trade 2% higher, Vodafone-Idea down over 2% The shares of telecom giant Bharti Airtel gained over 2% after it added 3.77 million <a href="https://www.businessinsider.in/business/telecom/news/airtel-added-3-77-million-and-jio-added-1-46-million-new-subscribers-in-september-month/articleshow/79558962.cms">new customers</a> in September, which is more than twice of what Reliance Jio added. However, the shares of Vodafone-Idea were down 2% as the company lost nearly 4.65 million subscribers. SpiceJet trades 10% higher, IndiGo up nearly 5% The shares of IndiGo and SpiceJet zoomed during the early trading hours on Friday. The rally came after the civil aviation ministry increased the cap on domestic flight capacity of airlines from 70% to <a href="https://www.businessinsider.in/india/news/india-allows-domestic-airlines-to-operate-at-80-of-pre-covid-capacity/articleshow/79546855.cms">80% of pre-Covid levels</a>. NCC zooms over 6% The shares of construction and engineering company, NCC zoomed nearly 6% after Rakesh Jhunjhunwala and family has increased stake in the company to 13.7% from 12.14% as of September 2020. Tata Power shares gain over 4% The shares of Tata Power gained over 4% after the <a href="https://www.livemint.com/news/india/tata-power-places-winning-bids-for-odisha-s-wesco-and-soutco-discoms-11606994438126.html">news reports</a> surfaced that the company has emerged as the winner in bids for two electricity distribution companies (discoms) in Odisha—the Western Electricity Supply Utility of Odisha Ltd (WESCO) and the Southern Electricity Supply Utility of Odisha Ltd (SOUTCO). Granules India trades 2% higher The shares of drug firm Granules India gained over 2% after its wholly-owned foreign subsidiary, Granules Pharmaceuticals Inc, has received approval from the US health regulator for its abbreviated new drug application (ANDA) for Penicillamine capsules USP, 250 mg. The drug is used for the treatment of Wilson’s disease and cystinuria. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/a-coordinated-global-network-of-hackers-tried-to-break-into-the-covid-19-cold-chain-which-transports-vaccines-at-94-degrees-fahrenheit/articleshow/79549902.cms" data-type="tilCustomLink">A coordinated, global network of hackers tried to break into the COVID-19 'cold chain,' which transports vaccines at -94 degrees Fahrenheit</a> <a href="https://www.businessinsider.in/tech/news/sbis-mobile-banking-app-is-down-for-the-third-time-in-last-30-days/articleshow/79548953.cms" data-type="tilCustomLink">SBI’s mobile banking app is down for the third time in 30 days — digital services take a hit for the 25th time this year</a>

Sensex hits 45,000 and Nifty scales fresh high as RBI revises growth outlook — these are the top movers in trade

Despite low crude oil prices, some of the airlines in India are still bearing rough weather. As per a report by aviation consultancy Capa India, Indian airlines have lost more than $10 billion since 2009 while their debt stands at around $11.3 billion. 
 
But, IndiGo, which has 40% share of the Indian aviation market, remains unaffected and is managing its business with aplomb. 
 
Here are few reasons for how the budget airline is prospering in tough times. 
 1. <keyword id="2399048" type="UNKNOWN" weightage="20" keywordseo="IndiGo-IPO">IndiGO IPO</keyword>: When IndiGo’s operator <keyword id="300127" type="COMPANY" weightage="20" keywordseo="Interglobe-Enterprises">InterGlobe Enterprises</keyword> announced their plans for an IPO and set prices between Rs 700 and Rs 765 a share, many though the prices were too high. But, IndiGO IPO subscribed more than six times and made a stunning debut on the market, gaining early 18% on listing. IndiGo is now valued at around $6 billion. 
 
2. Keeping it simple: Despite complex aviation regulations, creaking airports, rising airport fees, exorbitant taxes, etc, IndiGo has stuck to one formula-keep it simple. "We focus only on getting customers from point A to B safely along with their bags and serve food that will not make them sick," IndiGo president Aditya Ghosh had said. IndiGo flies only the Airbus320s, which helps keep operations simple and costs low. 
 
3. Negotiations: Through repeated orders of Airbus 320, (100 planes in 2005, 180 in 2011 and 250 planes in October) have given IndiGo an edge to bargain hard. IndiGo then sells and leases back the planes, cushioning its balance sheet from the uncertainties of aviation and helping it retain a young fleet. 
 
(Image: Indiatimes)

3 reasons why IndiGo is soaring high in troubled times too

<ul><li>The 30-share BSE index was trading 150.78 points higher at 45,230 points, and the Nifty50 also rose 48.35 points at 13,306.90. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian equity benchmark Sensex jumped over 150 points and Nifty crossed the 13,300 level to hit their fresh lifetime peaks in early trade on Monday, tracking gains in index majors ICICI Bank, ITC and HUL amid persistent foreign fund inflow. After touching a record intraday high of 45,245, the 30-share BSE index was trading 150.78 points higher at 45,230 points. The Nifty50 also rose 48.35 points at 13,306.90. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddy </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero Moto Corp </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharma </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td></tr></tbody></table>*as of December 7, 10:30 am These are the top stocks in news today. ONGC trades 5% higher The shares of ONGC gained over 5% after its overseas investment arm ONGC Videsh has made a “significant” oil discovery in an onshore block in Colombia. NMDC gains over 3% The shares of state-owned NMDC gained over 3% after the long-pending issue of Donimalai iron ore mine in Karnataka was resolved. The central government has reached an agreement with the Karnataka state government and the Ministry of Steel to extend Donimalai Iron ore lease. APL Apollo Tubes up over 4% The shares of Apl Apollo Tubes rose over 4% after the company set December 16 as the record date for share split. The company earlier approved splitting each stock of face value ₹10 each into 5 equity shares of the face value of ₹2 each. Pfizer rises over 2% The shares of Pfizer soared nearly 3% after the company became the <a href="https://www.businessinsider.in/science/health/news/pfizer-seeks-emergency-use-authorisation-for-its-covid-19-vaccine-in-india/articleshow/79600551.cms">first pharmaceutical firm</a> to seek from the Drugs Controller General of India (DCGI) an emergency-use authorisation for its Covid-19 vaccine in the country after its parent secured such clearance in the UK and Bahrain. SpiceJet, IndiGo and IRCTC rally with other hospitality stocks SpiceJet, IndiGo and IRCTC shares rallied with other hospitality stocks with the hopes of a COVID vaccine nearing reality. SpiceJet gained over 4%, IndiGo was up 2%, and IRCTC rallied nearly 8%. Tata Chemicals gains over 7% Tata Chemicals stock rallied over 7% after the stock had surged16% in the past two days after Tata Sons bought an additional 2.57 million shares of the company for ₹121 crore via the open market. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/oxford-covid-19-vaccine-serum-institute-seeks-emergency-use-nod-for-covishield-vaccine-in-india/articleshow/79600349.cms" data-type="tilCustomLink">Oxford COVID-19 vaccine: Serum Institute seeks emergency use nod for Covishield vaccine in India</a> <a href="https://www.businessinsider.in/india/news/section-144-extended-across-noida-and-greater-noida-till-january-2/articleshow/79600323.cms" data-type="tilCustomLink">Section 144 extended across Noida and Greater Noida till January 2</a>

Top stock movers — ONGC, HDFC Bank, NMDC, Pfizer, SpiceJet, IndiGo, IRCTC, Tata Chemicals, and others

<ul><li>Indigo Paints shares are down nearly 17% in just 3 days despite the ecstatic mood in the market where Sensex broke new records.</li><li>The excitement around Indigo Paints also fizzled soon after the listing, just like in the case of Mrs’ Bector’s Food and Burger King.</li><li>Analysts say it is better to sell half the <keyword id="10589233" type="UNKNOWN" weightage="20" keywordseo="indigo-paints-stocks">Indigo Paints stocks</keyword> for profit booking, and hold the rest hoping for a surprise.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>The Indian stock market has been enjoying the dream run — Sensex topped 51,000-mark this morning, and Nifty inched closer to 15,000. But the Indigo Paints investors who didn’t sell their stock on listing day, or ones who bought it on that day, have seen their investment fall nearly 17% in just 3 days. The excitement around Indigo Paints also fizzled soon after the listing, just like in the case of Mrs’ Bector’s Food and Burger King. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Post listing peak </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Current price </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fall from peak </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indigo Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3232 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2693 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mrs Bectors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹624 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹415 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Burger King India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹194 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹147 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr></tbody></table>* NSE data- as of February 5 Samir Arora, the founder and fund manager at Helios Capital, in <a href="https://www.businessinsider.in/stock-market/news/interview-a-hedge-fund-manager-explains-where-to-invest-when-nothing-is-cheap-in-india/articleshow/80682629.cms">an exclusive chat with Business Insider</a>, said that all three stocks are “still overvalued”, and by a lot, compared to their listed peers like Asian Paints, Britannia and Jubilant Foodworks respectively. Business Insider reached out to a few more analysts and the verdict is similar. Keshav Lahoti, Equity Analyst, Angel Broking, said it is better to sell half the Indigo Paints stocks for profit booking, and hold back on the rest for any surprise movement. IPO: Initial Public Offering or Instant Profit Opportunity? Just like Burger King and Mrs Bector's Food, the <keyword id="10263001" type="UNKNOWN" weightage="20" keywordseo="indigo-paints-ipo">Indigo Paints IPO</keyword> was a hit. The IPO of India's fifth-largest paint maker clocked in a massive response from investors on the last day of subscription — the issue was subscribed 117 times the offer value. Indigo Paints is also the most subscribed IPO of 2021 followed by Home First Finance which was subscribed only 27 times. “See what happens is that when an IPO happens there are hundreds listed companies in the market, but the full attention of the retail, public and even institutional public goes towards the IPO. In fact, that's why in the US people take those companies private. That way every year they take 10 companies private and eight of them come back after not five years even in one or two years. It is because there is this concept that an IPO is a good way,” said Arora If you want to profit from Indigo, wait! Kranthi Bathini, equity strategist at Mumbai-based WealthMills Securities, expects “some more profit booking in the next few days." According to Lahoti, the company has a strong business model, experienced management and has done a great job gaining the market share in the industry from the last few years. "But currently the stock is a bit over valued," he told Business Insider. According to both the analysts, it is not the "right time" to enter into the stocks at these valuations. It is better to wait for a correction if someone wants to take a position. "I can say if the stock corrects 20-30% more from here, then investors can start buying it. If you have it in your portfolio you book profit in half of the stock and half they should wait," Lahoti said. Angel Broking says Mrs Bector's stock is ‘reasonably’ valued now Mrs Bector's shares opened in the green today but investors' anxiety over the upcoming earnings pushed the stock back into the red soon after. According to Lahoti, the stock has corrected nearly 30% and is now available at a reasonable valuation. "Mrs. Bector Food Specialities are one of the leading companies in the premium and mid-premium biscuits segment and the premium bakery segment in North India. We think the company should be able to grow in line with the industry managed by the promoters having more than 25 years of sector knowledge. We advise investors to buy Mrs Bectors," he said. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/rbi-governor-shaktikanta-das-says-inflation-will-be-maximum-6-percent/slidelist/80700549.cms">Reserve Bank of India says inflation will remain under 5.2 percent until March</a> <a href="https://www.businessinsider.in/tech/news/paypal-to-focus-on-indian-businesses-wanting-to[%E2%80%A6]nds-down-operations-from-april-1/articleshow/80699809.cms">PayPal to focus on Indian businesses wanting to go global as it winds down operations from April 1</a>

You Searched For "indigo share price" and got 11 results

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