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<keyword id="20241971" type="General" weightage="100" keywordseo="ramkrishna-forgings" source="keywords">Ramkrishna Forgings</keyword> Ltd on Thursday posted a 43% rise in consolidated net profit to Rs 86.86 crore during the December quarter on the back of higher income. The company had posted a net profit of Rs 61.04 crore in the year-ago period, the company said in an exchange filing. The company's total income in the third quarter of the current fiscal also rose to Rs 1,059.32 crore from Rs 778.22 crore in the year-ago quarter. Its expenses were at Rs 941.84 crore, up from Rs 684.70 crore a year ago. "The company registered a strong performance across segments and geographies, with year-on-year growth of 20% in revenues and 43% in profitability. EBITDA margins stood at 23%, driven by operating leverage and a sharp focus on cost control," Ramkrishna Forgings Ltd Managing Director <keyword id="20241972" type="General" weightage="20" keywordseo="naresh-jalan" source="keywords">Naresh Jalan</keyword> said in a statement. The company raised Rs 1,000 crore through the QIP route during the quarter, he said. "The recent approval by NCLT Delhi for the acquisition of ACIL Ltd aligns with our strategies, positioning us for a healthy and robust expansion in the next phase," he said. In the October-December period, the sales volume was 28,263 tonnes, a year-on-year increase of 35.6%. In the April-December period, sales volume was 76,277 MT, representing a year-on-year increase of 22.8% over the same period in the previous fiscal. Kolkata-based Ramkrishna Forgings is a leading manufacturer of forged metal products with an annual installed capacity of 210,900 metric tonnes. It manufactures and supplies forgings of carbon and alloy steel, micro alloy steel and stainless steel to sectors like railways, bearings, oil and gas, power and construction, automotive among others.

Ramkrishna Forgings Q3 net profit rises to Rs 87 crore

A consortium of <keyword id="1939294" type="General" weightage="100" keywordseo="ramkrishna-forgings" source="Orion">Ramkrishna Forgings</keyword> Ltd and <keyword id="17712406" type="General" weightage="50" keywordseo="titagarh-rail-systems-ltd" source="Orion">Titagarh Rail Systems Ltd</keyword> has bagged an order worth about Rs 12,227 crore from the railways ministry to supply 15.40 lakh forged wheels under the government's Atmanirbhar Bharat initiative. The contract spans over 20 years, with the delivery of 40,000 forged wheels in the first year, 60,000 in the second year, and 80,000 wheels annually thereafter, Ramkrishna Forgings said in a statement on Friday. "Ramkrishna Forgings Limited (RKFL) and <keyword id="17721867" type="General" weightage="50" keywordseo="titagarh-rail-systems-limited" source="Orion">Titagarh Rail Systems Limited</keyword> (<keyword id="17712115" type="General" weightage="50" keywordseo="trsl" source="Orion">TRSL</keyword>) consortium has won a contract to supply 15,40,000 forged wheels under the Atmanirbhar Bharat initiative by Ministry of Railways," it said. The wheels will be used for LHB coaches, WAG9 locomotives, <keyword id="7263559" type="General" weightage="50" keywordseo="vande-bharat-express" source="Orion">Vande Bharat Express</keyword> trains, and other platforms and the total contract value is Rs 12,226.5 crore, the company said. The consortium will be establishing a facility to manufacture these forged wheels, with a total annual production target of 2,00,000 wheels when fully operational. The facility will address the demands of the domestic railway sector, private sector as well as the export markets. Both companies will contribute equity on an equal basis to support the project's capital expenditure needs. Kolkata-based Ramkrishna Forgings is a manufacturer and supplier of closed-die forgings of carbon and alloy steel, micro-alloy steel and stainless steel forgings. The company also has presence in the US, Mexico, Turkey and Belgium. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/with-gold-prices-hovering-at-near-highs-should-you-invest-in-the-yellow-metal-now/articleshow/101038839.cms">With gold prices hovering at near highs, should you invest in the yellow metal now?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/indian-private-banks-like-hdfc-axis-and-icici-bank-occupy-more-tv-news-space-over-psu-banks/articleshow/101037382.cms">Private lenders led by HDFC Bank occupy lion’s share of TV news space</a>

Ramkrishna Forgings-Titagarh Rail consortium bags ₹12,227 crore order from railways

Shares of <keyword id="1939294" type="UNKNOWN" weightage="100" keywordseo="Ramkrishna-Forgings">Ramkrishna Forgings</keyword>, an auto ancillary supplier, traded near fresh highs after the company's quarterly income surged on the back of rising exports.
 

	Ramkrishna Forgings said its first quarter profit jumped 200 percent to 17.7 crore rupees compared with 5.90 crore rupees in the same quarter a year ago. Sales rose 91 percent to 235.5 crore rupees during April-June compared with 123.2 crore rupees in the year ago period. Profit was boosted mainly by the four-fold rise in exports to 130 crore rupees.
 

	Ramkrishna Forgings leapt 21 rupees, or 13.1 percent, to 719 rupees on the National Stock Exchange, where 10 crore rupees worth of shares were traded 10:50 am compared with a transacted volume of 15 crore rupees on Friday.
 

	Ramkrishna Forgings' market capitalisation has soared 203 percent to 1,919 crore rupees over one year as investors bought into India's growing auto boom. 
	 
	Image credit: Indiatimes

Shares of Ramkrishna Forgings are selling for near fresh highs. Know why

Hyperlocal e-commerce firm magicpin has recorded 50 per cent month-on-month growth on the government-supported <keyword id="5862596" type="General" weightage="100" keywordseo="ondc" source="Orion">ONDC</keyword> network as it crossed 30,000 daily order mark on the platform, the company said on Friday. magicpin joined Open Network for <keyword id="1664180" type="General" weightage="50" keywordseo="digital-commerce" source="Orion">Digital Commerce</keyword> about nine weeks ago in March end. "magicpin within the first four weeks of joining ONDC had scaled from 100 to 10,000 orders. By the fifth week, which was early last month we saw a massive leap to 20,000 daily orders, and now just another 4 weeks on and we have breached the 30,000 orders a day milestone on the network, all that in just 9 weeks of joining the network," magicpin CEO and co-founder <keyword id="4538931" type="General" weightage="50" keywordseo="anshoo-sharma" source="Orion">Anshoo Sharma</keyword> said in a statement. Lightspeed Venture-backed e-commerce firm received orders from its own buyer app and through buyer apps of multiple platforms like Paytm and PhonePe's Pincode. magicpin is also building a Software-as-a-Service (SaaS) platform for the ONDC initiative. "With this SaaS platform, magicpin aims to offer its proprietary technology stack, including tools for digital payments, customer engagement and loyalty programs to SMEs, thus enabling them to compete with larger players in the market," the company said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/ramkrishna-forgings-titagarh-rail-consortium-bags-12227-crore-order-from-railways/articleshow/101039655.cms">Ramkrishna Forgings-Titagarh Rail consortium bags ₹12,227 crore order from railways</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/with-gold-prices-hovering-at-near-highs-should-you-invest-in-the-yellow-metal-now/articleshow/101038839.cms">With gold prices hovering at near highs, should you invest in the yellow metal now?</a>

Magicpin clocks 50% monthly growth on ONDC with over 30,000 daily orders

With advancements in medical technology, novel diagnostic tools are emerging to facilitate early and accurate detection of <keyword id="24487" type="General" weightage="20" keywordseo="Alzheimers" source="Orion">Alzheimer's</keyword> disease, according to a report on Friday. Alzheimer's disease, a progressive neurodegenerative disorder, poses significant challenges to individuals, caregivers, and healthcare systems worldwide. Early detection plays a crucial role in managing the disease and improving patient outcomes. Researchers and medical device manufacturers have been working tirelessly to develop innovative solutions for early Alzheimer's detection, revealed the report by <keyword id="1670029" type="General" weightage="100" keywordseo="globaldata" source="Orion">GlobalData</keyword>, a leading data and analytics company. Prominent among these advancements is the development of blood-based biomarker tests, such as the recently introduced AD-detect blood test, amyloid beta biomarkers, tau protein biomarkers, and neurofilament light (NfL) Biomarkers. These groundbreaking tests detect specific biomarkers associated with Alzheimer's disease, providing a non-invasive and accessible method for early detection and monitoring of the disease progression. Leading pharmaceutical companies and research institutions are actively involved in clinical trials and studies to evaluate the effectiveness of these biomarker tests. The results so far have been promising, showing great potential for improving early diagnosis and intervention strategies for the neurodegenerative disease, the report said. "Early detection of Alzheimer's disease allows for timely interventions, including lifestyle modifications and potential treatment options, which can significantly impact the quality of life for individuals affected by the disease. The development of blood-based biomarker tests is a significant breakthrough in the field, offering a more accessible and convenient approach to detecting Alzheimer's at its early stages," said <keyword id="17233470" type="General" weightage="80" keywordseo="cynthia-stinchcombe" source="Orion">Cynthia Stinchcombe</keyword>, <keyword id="17367395" type="General" weightage="80" keywordseo="medical-analyst" source="Orion">Medical Analyst</keyword> at GlobalData, in a statement. "The advancements in diagnostic tools for early detection of Alzheimer's disease bring hope to millions of people worldwide. By increasing awareness, supporting ongoing research, and ensuring widespread access to these innovative diagnostic tests, we can make significant strides in improving the lives of those affected by Alzheimer's and moving closer to effective treatments," Stinchcombe added. The month of June is designated as Alzheimer's and <keyword id="17723100" type="General" weightage="50" keywordseo="brain-awareness-month" source="Orion">Brain Awareness Month</keyword>. It is dedicated to raising awareness about Alzheimer's disease, brain health, and supporting individuals and families affected by this condition. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/ramkrishna-forgings-titagarh-rail-consortium-bags-12227-crore-order-from-railways/articleshow/101039655.cms">Ramkrishna Forgings-Titagarh Rail consortium bags ₹12,227 crore order from railways</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/e-commerce/news/magicpin-clocks-50-monthly-growth-on-ondc-with-over-30000-daily-orders/articleshow/101039648.cms">Magicpin clocks 50% monthly growth on ONDC with over 30,000 daily orders</a>

More diagnostic tools for early detection of Alzheimer's underway: GlobalData

<ul><li><keyword id="2537688" type="General" weightage="80" keywordseo="uniparts-india" source="Orion">Uniparts India</keyword> intends to raise ₹836 crore entirely via an offer for sale by existing shareholders. </li><li>The price band for the <keyword id="6354763" type="General" weightage="100" keywordseo="ipo" source="Orion">IPO</keyword> is set at ₹548-577 per share, with each lot consisting of 25 shares. </li><li>Uniparts India was founded in 1994 and is an engineered systems and solutions provider based in New Delhi. </li></ul>Uniparts India, an engineered systems and solutions provider, is all set to open its initial public offer (IPO) for subscription on November 30. The New Delhi-based company plans to raise ₹836 crore from the public issue. Founded in 1994, Uniparts India obtained the market regulator Securities Exchange Board of India’s (SEBI) clearance to launch its IPO twice, but never went ahead with it. The price band has been fixed between ₹548-577 per share. Each lot will consist of 25 shares. The IPO will go live on November 30 and will be available for subscription till December 2, according to the red herring prospectus filed by the company. In its filing, Uniparts India mentioned that the entire issue will be an offer for sale of 14.4 million existing shares. Since this is entirely an offer for sale, the company will not receive any proceeds from the issue. The IPO will see divestment from promoter group entities - The Karan Soni 2018 CG-NG Nevada Trust, The Meher Soni 2018 CG-NG Nevada Trust, Pamela Soni; apart from Ashoka Investment Holdings and Ambadevi Mauritius Holding. <cmsannotation type="cmsannotation" annotationid="Understanding the business of Uniparts India" comment="subhead" text="Understanding the business of Uniparts India">Understanding the business of Uniparts India</cmsannotation> Uniparts manufactures critical products and components for the Off Highway Vehicles (OHV) industry. More specifically, it caters to the agriculture, construction forestry &amp; mining (CFM) and aftermarket sectors. Uniparts India has a presence in 25 countries around the world, and has two manufacturing facilities in Punjab, two in Uttar Pradesh, and one in Andhra Pradesh. The company also has a manufacturing, warehousing and distribution facility in Iowa, and another in Georgia. A significant portion of its revenue is from its top ten customers. In its filing, Uniparts India noted that the top ten customers contributed to 70.4% of its total revenue in FY22, down from 73% in FY21. However, it added that this is still a significant number and that the loss of a major customer could affect its financial results and prospects. Another important risk that the company has highlighted in its filing is its reliance on agriculture, construction, forestry and mining. For instance, fertilizer prices, weather conditions can have a direct impact on agricultural production, which is beyond the company’s control. Here are the company key financial metrics: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,227 crore </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹903 crore </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹907 crore </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹167 crore </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹93 crore </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹63 crore </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EBITDA margin </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22.13% </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.15% </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14.09% </td></tr></tbody></table> Source: Red herring prospectus Uniparts India has multiple listed peers, including Bharat Forge and Balkrishna Industries. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listed peers </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock performance in 2022 </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Balkrishna Industries </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-12.80% </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Forge </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19.10% </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ramkrishna Forgings </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.60% </td></tr></tbody></table> Note: Performance as on November 25, 2022 SEE ALSO: <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> <a href="https://www.businessinsider.in/stock-market/news/bikaji-stocks-why-investors-continue-to-snack-on-this-stock/articleshow/95757704.cms">Bikaji Foods: Investors continue to snack on the stock that’s up 35% since listing</a>

Uniparts India’s ₹836 crore IPO to open on November 30

<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

The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> showed a mild shade of green in early deals on Tuesday as traders covered some short positions after 3 days of relentless selling that pushed the market to fresh 14-month lows. 
 The Nifty rose 26 points, or 0.4 percent, to 7,585 points in early deals, recovering from an intra-day low of 7,540 points. Yes Bank, <keyword id="6357147" type="CITY" weightage="100" keywordseo="Tata-Steel">Tata Steel</keyword>, GAIL, PNB and Tata Motors were the top 5 gainers on the Nifty while Cairn, Cipla, Lupin, Vedanta and Bosch continued to remain under selling pressure. The Advance-Decline Ratio on the Index was 30:20. Axis Banks, State Bank of India and ICICI Bank were the three top traded stocks on the National Stock Exchange and all of them quoted in positive territory. 
 The <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> added 70 points to 24,963 at the start of trade on the Bombay Stock Exchange. The proceedings were dominated by lenders. Axis Bank, Hindalco, NTPC and Hero Motors were among the top 10 gainers while Cipla, Hindustan Unilever, Bharti <keyword id="15491" type="COMPANY" weightage="100" keywordseo="Airtel">Airtel</keyword> and Dr. Reddy's remained in the red. As a consequence, the Advance-Decline Ratio was 16/14 on the Sensex. 
 
Axis Bank, Larsen and SBI were the top traded stocks on the BSE. 
 
The broader market showed traction in early deals. Smart gains were seen on sectors such as CNX Realty, CNX Metals, BSE Power and BSE PSU Indices. But the Advance-Decline Ratio favoured the bears with just 625 stocks rising compared with 973 that lost ground on the BSE. 
 The Derivatives space showed some positive action even though bears were seen resuming control on the F&amp;O market. Shriram Transport, Hexaware, JSW Energy were top gaining futures, while Amtek Auto, Amara Raja Batteries and Strides Arcolab futures dipped in trade. The Advance-Decline Ratio was 71/85 in this part of the market. However, banks showed a strong start on Tuesday with all 22 banking futures exhibiting smart gains in initial trades. Those beaten down the most came back the strongest. Therefore, Punjab National Bank, Yes Bank, Canara Bank and Bank of India were the top gaining futures in the banking space. As a consequence, the <keyword id="151330" type="COMPANY" weightage="100" keywordseo="Bank-Nifty">Bank Nifty</keyword> gained 157 points, or 1 percent, to 15,939 points. Modest gains were also seen on its peers, the CNX Finance and the CNX PSU Bank Indices. 
 
Stocks making it to the top volumes buzzers list were Indian Hume Pipe Company, Marksans Pharma, Simplex Projects and Ramkrishna Forgings. The list of stocks hitting 52 week lows was populated by Allahabad Bank, Andhra Bank, Dhanlaxmi Bank and EID Parry to name a few companies. 
 
(Image credits: Indiatimes)

Traders see mild shade of green at Dalal Street today

The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> is seen range-bound on Monday as major earnings are out of the way and overseas cues give little in terms on strong movements on either side. Top indices closed with losses for last week pointing to a bearish stance in the overall market. Keep an eye out for Tata Motors which reported numbers after markets closed on Friday. 
 
The SGX Nifty signals a 25-point drop at opening for Nifty futures today. 
 
Global cues are weak to negative. Major Indices in the US fell between 0.3-0.4 percent on Friday. Their weekly losses totalled 1.3-18 percent. Top indices turned bearish as well in Europe slipping between 0.4-0.8 percent on Friday even as they stacked up weekly gains worth 0.2-1.6 percent. The commodity space shows little or no signs of life. All four major components trade lower today. Gold Futures slipped for the 6th day, to fresh 5-1/2 year lows; Oil Futures are below $44 a barrel. Bears retain control over the metals complex. And stocks in Japan and Hong Kong have a light shade of red while stocks in China are in a fine fettle on Monday morning. 
 Meanwhile, the Nifty Index closed at 8,564 points, down 24, on Friday. Weekly gains totalled 0.4 percent. The Nifty's support levels have moved up to 8,550-8,500 levels while the resistance continues to be seen at the 8,637 point level. The <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> posted similar weekly gains as the Nifty. 
 
The sentiment remains was flat in the cash market on Friday with little or no trade done. Foreign Institutional Investors totalled net sells of `94 crore rupees on Friday, their 1st negative number in 5 days. Net purchases of domestic institutions stood at `34 crores. The derivatives space was muted too. Traders made net purchases worth 85 crore rupees for Index Futures; Net sales of 502 crore rupees for Stock Futures; Purchases of `243 crore rupees for Index options and net purchases of 16 crore rupees for Stock Options. 
 
Major delivery based trades were seen on ONGC, HPCL and BPCL in the energy space, as also in Exide, Dewan Housing, Oracle, Grasim and KSCL. These shares also showed an uptick in price. BHEL and Glenmark saw high deliveries coupled with a drop in price. 
 
 
STOCKS TO WATCH: 
 
EARNINGS-Based: Tata Motors, MRPL, Rural Electrification, UCO Bank, Punjab &amp; Sind Bank, Central Bank of India, Sobha Developers, Balkrishna Industries, Ramkrishna Forgings. 
 
THOMAS COOK: Buys out Kuoni's Indian and HK operations for 535 crore rupees. 
 
 Image credit: Indiatimes

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