<ul><li>Eight out of 14 IPOs listed in the Indian stock market in 2022 have given negative returns to investors.</li><li>Adani Group company Adani Wilmar is the only outlier that more than doubled investors' money in five months of 2022.</li><li>Analysts say apart from weak market sentiment, high valuations of many IPOs despite poor financial performance is hurting investor appetite</li></ul>At the fag end of this year’s IPO season, investors might learn a valuable lesson – profiting off listing debuts is not as easy as it looks. All the 14 initial public offers (IPO) which called for bids this year were fully subscribed with substantial interest from retail investors – irrespective of the quality of companies that went public. Eight of the 14 IPOs in 2022 have given negative returns so far – thanks to RBI’s surprise move to <a href="https://www.businessinsider.in/finance/news/indias-central-bank-confirms-another-rate-hike-is-coming-in-june/articleshow/91739640.cms">raise interest rates</a>, global outlook, <a href="https://www.businessinsider.in/stock-market/news/foreign-investors-have-pulled-out-more-money-this-year-than-they-brought-in-between-2009-2021/articleshow/91747269.cms">FIIs fleeing Indian markets</a> and of course rising inflation that’s hurting consumer sentiment and margins. The only ‘good’ surprises being <a href="https://www.businessinsider.in/stock-market/news/adani-wilmar-lists-below-analysts-and-investors-expectations-at-3-9-discount/articleshow/89420527.cms">Adani Wilmar</a> and <a href="https://www.businessinsider.in/stock-market/news/veranda-learning-solutions-beats-gmp-and-lists-at-20-premium/articleshow/90771284.cms">Veranda Learning Solutions</a> – but they were listed way before the market crash. Even a behemoth like LIC which became the <a href="https://www.businessinsider.in/stock-market/news/lic-stock-falls-8-on-listing-day-but-still-beats-hul-and-icici-to-become-indias-fifth-most-valued-company/articleshow/91609556.cms">fifth most valuable company</a> in India after listing – fell after its public debut – suggesting that the days of ‘easy listing gains’ are over. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPOs in 2022 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% return from issue price </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscription received </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Adani Wilmar </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">156% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">17.37 times </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Veranda Learning Solutions </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">65% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.53 times </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Rainbow Children </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">12.43 times </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vedant Fashions </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.57 times </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Prudent Corporate Advisory Services </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.22 times </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Ethos </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.04 times </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Paradeep Phosphates </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-2% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.75 times </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Delhivery </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-3% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.63 times </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Campus Activewear </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-3% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">51.75 times </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Venus Pipes &amp; Tubes </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-6% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">16.31 times </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">LIC </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-6% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.95 times </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Hariom Pipe Industries </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-8% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.93 times </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Uma Exports </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-31% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.67 times </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">AGS Transact Technologies </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-44% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.79 times </td></tr></tbody></table>(Source: BSE) More pain in the equity market ahead For these recently listed entities, analysts see more pain in the coming months. Since some of the companies that went public are yet to make profits, their earnings in the next few months might disappoint the markets and investors, even further. “FIIs, DIIs are uncertain about the earnings of IPO bound or other unlisted companies due to various macro factors playing out. Earnings in the upcoming quarters will be the turning point for market conditions for IPO and markets in general,” said Manoj Dalmia, founder and director at Proficient equities Private. The newly listed companies like LIC, Delhivery and Veranda Learning Solutions have depressed investor sentiment even further as they reported their March quarter earnings. LIC’s net profit fell 17% to ₹2,409 crore in the March quarter. Delhivery and Veranda Learning Solutions too reported losses of ₹119 crore and ₹20 crore respectively. Again, Adani Wilmar was an exception. Its profit surged <a href="https://www.businessinsider.in/business/corporates/news/adani-wilmar-revenue-rockets-fuelled-by-boiling-edible-oil-prices/articleshow/91260794.cms">40% during the March quarter </a> due to the rise in edible oil prices, as an after-effect of the Russia-Ukraine war. But this very news might be bad for most other companies across the sector – which means fewer funds, inflated raw material prices and more. “The markets are slightly weak due to increasing inflation, global uncertainty of rate hikes, and war between Russia and Ukraine. Even VC fundings have narrowed in startups and already layoffs are being seen in gaming and education sectors,” added Dalmia. The fund crunch is also affecting the valuations of companies with good fundamentals; but those IPOs which were priced high will continue to face even more pain once earnings are announced. Yet, there is one silver lining that the global economy itself might improve for the better and bring back foreign funds and domestic sentiment which can improve the outlook of these stocks for the better. “My sense is things from here on should improve as there is still domestic capital to be deployed and hopefully FIIs also at some point will do reallocation and come back in the market,” said Neha Khanna, director at ValPro. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/ambani-and-adani-together-borrowed-more-than-1-out-of-every-5-from-foreign-lenders/articleshow/91909834.cms">Mukesh Ambani and Gautam Adani account for $1 out of every $5 of foreign loans</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-will-have-a-solid-turnaround-war-chest-if-it-clinches-the-amazon-deal/articleshow/91906347.cms">Vodafone Idea will have a solid ‘turnaround’ war chest if it clinches the Amazon deal</a>

Earnings shock awaits new IPO investors burnt by listing losses

<ul><li>Shares of Abans Holdings listed at ₹273 against the issue price of ₹270 per share.</li><li>The stock has listed exactly at ₹3 premium as indicated by grey market trends.</li><li>The market capitalisation of the company stood at ₹1,353 crore after listing.</li></ul>Shares of the Mumbai-based financial services company <a href="https://www.businessinsider.in/stock-market/news/abans-holdings-to-open-ipo-next-week-from-dec-12-15-gmp-at-20-per-share/articleshow/96084679.cms">Abans Holdings</a> made a flat listing on the stock exchanges today at ₹273 against the issue price of ₹270. However, weak market sentiments dragged the scrip down, with its share price tumbling 15%. At 10:20 a.m., shares of the company declined 15% at ₹228. The grey market trends had also hinted the stock to get listed at ₹3 premium on exchanges, which has fallen from ₹20 premium in the last week. <a href="https://www.businessinsider.in/stock-market/news/grey-market-premium-what-is-it-and-where-is-it-coming-from/articleshow/95454371.cms">GMP is the premium at which IPO shares are traded</a> in the unofficial market before they are listed on the stock exchanges. The market capitalisation of Abans Holdings currently stands at ₹1,353 crore, according to BSE data. Negative sentiment in the market also weighed on the listing considering benchmark indices Sensex and Nifty50 were down 0.8% in the first hour of trade today – while Sensex fell 458 points, Nifty declined 143 points. <a href="https://www.businessinsider.in/stock-market/news/three-ipos-set-to-raise-over-1800-crore-this-week/articleshow/96160133.cms">Abans Holdings IPO </a>received tepid demand from investors as the issue was subscribed 1.10 times. The qualified institutional buyer portion was subscribed the most at 4.10 times. The portion reserved for non-institutional investors witnessed a subscription of 1.48 times while retail was subscribed 0.40 times. This year, 36 IPOs made their stock market debut on the BSE mainboard. Most of them gave positive listing gains, except seven issues. Here are the top five best performing IPOs in 2022. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Name </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Adani Wilmar </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">136% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Venus Pipes &amp; Tubes </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">124% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Hariom Pipe Industries </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">108% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Veranda Learning Solutions </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">81% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vedant Fashions </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">48% </td></tr></tbody></table>(Source: BSE) Established in 2009, Abans Holdings is engaged in financial services, gold refining, jewellery, commodities trading, agricultural trading and warehousing, software development and real estate. It is the financial services arm of the Abans Group. Also, it provides asset management, investment advisory and wealth management services to corporates, institutional and high net worth clients. It operates from multiple locations including India, UK, Dubai, Shanghai, Hongkong, Mauritius and Singapore. Abans Holdings is a holding company and all its business operations are conducted through three subsidiaries and 14 step subsidiaries. The company competes with non-banking financial companies, brokerage firms, AMCs and financial advisory firms. Abans Holdings revenues have depleted significantly while its profits have improved consistently in the last three years along with reduction in debt. “As can be seen, our revenues have declined mainly due to reduction in physical commodities trading due to Covid-19 related changes and our gradual movement towards exchange traded commodity instruments instead of physical commodities,” the company said in its red herring prospectus. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </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;">Revenue from operations </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;">Net profit </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;">Debt (borrowings) </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;">FY22 </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;">₹638 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹61 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹85 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;">FY21 </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;">₹1,325 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹45 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹267 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;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,765 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹39 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹318 crore </td></tr></tbody></table>Source: DRHP SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/landmark-cars-lists-at-nearly-7-discount-on-bourses-amid-weak-market-sentiment/articleshow/96443852.cms">Landmark Cars lists at nearly 7% discount on bourses amid weak market sentiment</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/most-anticipated-sequels-of-web-series-movies-and-shows-releasing-in-2023/slidelist/96429356.cms#slideid=96430674">From Shark Tank S2 to Indian 2, a look at the most anticipated sequels releasing in 2023</a>

Abans Holdings shares tumble 14% after a flat listing on the bourses

<ul><li>Today is the last day to subscribe to Logistics startup Delhivery’s IPO that is looking to raise ₹5,235 crore through the public issue.</li><li>In the first two days, the IPO has been subscribed only 24% by investors.</li><li>The grey market premium of LIC IPO has come down sharply to a discount of ₹2 from ₹30 a few weeks back.</li></ul>For those interested in applying for the initial public offering (IPO) of logistics and supply chain company Delhivery, today, May 13, is the last day. The company is looking to raise 5,235 crore through the public issue wherein fresh issue is of ₹4,000 crore and offer for sale is of ₹1,235 crore. Shareholders like Carlyle, Japanese Softbank, Fosun group-owned China Momentum Fund and Times Internet will sell some of their shares in the IPO. So far the company has been struggling as only 24% of the issue has been subscribed in two days. The lack of demand is due to volatile market conditions that have spooked investors. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription status </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;">Qualified institutional buyers </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;">0.30 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.02 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.42 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overall </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;">0.24 times </td></tr></tbody></table>In fact, due to the risky market conditions, the reduced issue size to ₹5,235 crore from ₹7,460 crore it had decided earlier. Also, the grey market premium of LIC IPO has come down sharply to a discount of ₹2 from ₹30 a few weeks back. Another thing keeping investors at bay is the fact that Delhivery is a <a href="https://www.businessinsider.in/stock-market/news/delhivery-delivers-parcels-to-over-90-of-india-but-will-its-ipo-deliver-profits-to-its-investors-heres-what-analysts-are-saying/articleshow/91470992.cms">loss making firm</a>. Not to forget, investors have already been bitten after investing in <a href="https://www.businessinsider.in/stock-market/news/zomato-policybazaar-nykaa-and-paytm-shares-witness-sharp-corrections/articleshow/91365062.cms">new age companies like Paytm, Zomato</a>, whose shares have sinked down massively after listing. <div type="image" title="Delhivery profit" height="900" width="1200" msid="91526795" hostid="261"></div>The company intends to use the IPO proceeds to fund its acquisitions and other expansion plans. Delhivery provides a full range of logistics services, including express parcel delivery, heavy goods delivery, PTL freight, TL freight, warehousing, supply chain solutions, and cross-border services, among others. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/venus-pipes-and-tubes-ipo-heres-all-you-need-to-know-about-before-applying/slidelist/91517368.cms">Venus Pipes and Tubes — here’s all you need to know about before applying for its IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/lic-ipo-check-out-analysts-view-on-whether-to-sell-or-hold-lic-ipo-post-listing/articleshow/91515679.cms">LIC IPO might list at a discounted price; Here’s analysts view on whether to sell or hold LIC ipo post listing</a>

Last day to apply for Delhivery IPO; grey indicates a discounted listing

<ul><li>Those who got shares of Paras Defence and Space Tech in the IPO nearly tripled their money within a few minutes of the listing.</li><li>There are other defence equipment makers in the country, but none of those listed have the kind of product portfolio Paras has.</li><li>Half of the company’s ₹1,433 crore revenue at the end of March 2021 came from government projects.</li></ul>The initial public offering (IPO) from the Navi Mumbai-based defence equipment maker was hot right from the word go. The listing for Paras Defence &amp; Space Technologies was even better. Those who got shares in the IPO nearly tripled their money within a few minutes of the listing before the exchanges put a stop on the trading because the share price had surged more than what the bourses allow on the opening day. List of companies in 2021 that made a blockbuster debut on stock exchanges with at least 100% gains on listing day <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;">Companies </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;">% returns </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;">Tatva Chintan Pharma Chem </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;">100% </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;">G R Infraprojects </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;">105% </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;">Clean Science and Technology </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;">100% </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;">Paras Defence &amp; Space Technologies </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;">171% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> It was hardly a surprise because people were already paying a ₹200 premium to get the shares in the grey market. These are some of the interesting facts about Paras Defence that make it such a hot stock. There are other defence equipment makers in the country, but none of those listed have the kind of product portfolio Paras has. It makes stuff for defence and space optics ⁠— such as space cameras, infrared devices, diffraction gratings which help in improving image resolutions ⁠— defence electronics, electro-magnetic pulse (EMP) protection solution and heavy engineering. So much so that Paras supplies inputs even to some of its listed peers. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Other defence stocks </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;">Key products </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;">Share price change on Oct 1 </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 Electronics </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;">Military communications, naval systems, electronic warfare systems, telecommunications, sound and vision broadcasting, opto-electronic </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;">-0.3% </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;">Hindustan Aeronautics </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;">Fighter jets, helicopters, jet engine and marine gas turbine engine, avionics among others </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;">-1.08% </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 Dynamics </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;">Surface to air missiles (SAMs) for the Indian Armed Forces, anti-tank guided missiles (ATGMs), underwater weapons, launchers, countermeasures and test equipment. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.78% </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;">BEML </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;">Machines such as hydraulic excavators, bulldozers, wheel loaders, wheel dozers, dump trucks, motor graders, pipe layers, tyre handlers, water sprinklers and backhoe loaders </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;">-1.52% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Two thirds of its current orderbook, worth ₹300 crore, is for these cameras and related products. The company has been a part of most of the earth observation and space exploration missions since 2018, said ICICI Direct report citing a Frost and Sullivan Report. The Indian government is increasingly pushing the Ministry of Defence to buy ‘made in India’ products as well as pushing Indian defence equipment makers to export. According to Motilal Oswal, the government outlay to buy products where Paras Defence is a player is expected to rise more than four times, from $3.2 billion allocated in the year ending March 2021 to over $14.5 billion, in the next decade. Half of the company’s ₹1,433 crore revenue at the end of March 2021 came from government projects. Another one third came from the private sector. The rest was from exports. The company has raised ₹170 crore from the IPO and wants to invest the money in new equipment. Some of Paras Defence’s products under development include: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Turnkey Submarine Periscope </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;">It is a high performance sighting system designed to perform under extreme submarine environments making it a magical marvel. </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;">Optical/Multi/Hyper Spectral Cameras </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;">Drone payload cameras are high end imaging cameras providing exceptional imaging capabilities under dynamic moving conditions. It is used in various applications like homeland security, agriculture, industrial, etc. </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;">Large Sized Flow formed tubes </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;">Paras is proactively investing in one of its kind manufacturing setup to manufacture large sized flowform tubes which are used in space rockets. </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;">Optical Solar Reflectors </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;">OSRs are used for radiators on spacecraft. </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;">Complete Avionic Suite with Autopilot </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;">Complete Avionic Suite (Glass Cockpit) for FAR - 23 Aircraft </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;">Large Deployable Antenna </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;">For space application </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;">CFRP Structures </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;">Used for space application </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Motital Oswal However, if one had to evaluate the company on some of the traditional metrics like return on equity or return on capital employed, it may not seem as attractive. Since Paras Defence’s performance involves a lot of innovation and development, it’s working capital cycle is long, over 300 days, according to analysts. And the existing cash flow doesn’t cover it. Most of its contracts have a fixed price and so, the company runs the risk of cost overruns if it isn’t efficient. The company’s profit margin was a little over 12% in the financial year 2019 and has fallen since then, due to the effect of the pandemic, to a little over 11%. <div type="image" title="paras denfence" height="900" width="1200" msid="86677699" hostid="261"></div> SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ritesh-agarwal-led-oyo-files-preliminary-papers-for-its-1-2-billion-ipo/articleshow/86674003.cms" target="_blank">Ritesh Agarwal-led OYO files preliminary papers for its $1.2 billion IPO</a> <a href="https://www.businessinsider.in/stock-market/news/paras-defence-maruti-suzuki-airtel-vodafone-idea-and-other-top-stocks-to-watch-out-for-on-october-1/slidelist/86670108.cms" target="_blank">Paras Defence, Maruti Suzuki, Airtel, Vodafone Idea and other top stocks to watch out for on October 1</a> <a href="https://www.businessinsider.in/stock-market/news/paras-defence-space-tech-ipo-continues-to-demand-a-premium-of-200-in-grey-market/articleshow/86663834.cms" target="_blank">Paras Defence &amp; Space Tech IPO continues to demand a premium of ₹200 in grey market</a>

Paras Defence & Space Technologies makes space cameras and it just made the best listing post-IPO this year

<ul><li>Indian benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> closed in the red on Thursday on concerns of rising Covid-19 cases in China and RBI’s hawkish commentary on pausing rate hikes.</li><li>The 30-stock index closed 241 points lower at 60,826 while the 50-stock index Nifty50 ended down 71 points to close at 18,127.</li><li>All sectoral indices except IT closed in the red, with <keyword id="6369970" type="General" weightage="20" keywordseo="psu-banks" source="Orion">PSU banks</keyword>, realty and metal indices amongst the top losers.</li></ul>Indian benchmark indices Sensex and Nifty50 closed in the red on Thursday, a day after the Reserve Bank of India’s hawkish commentary on pausing interest rate hikes, and concerns of rising Covid cases in China. All sectoral indices, except IT, ended lower with auto, metals and PSU banks losing the most. The 30-stock index closed 241 points lower at 60,826 while the 50-stock index Nifty50 ended down 71 points to close at 18,127. The Nifty PSU bank index slipped 1.23%, Nifty Metal was down 1.13% while Nifty Realty closed 1.42% lower on Thursday. Pharmaceutical stocks continued to rally on the Nifty50 index on hopes of rising demand amid resurgence of Covid cases. Sun Pharmaceuticals was the top gainer on the Nifty50 index with 0.95% gains, while Apollo Hospitals rose 0.27%. "Positive sentiments from the global markets failed to bolster optimism in the domestic indices. The losses were extended in domestic equities owing to the hawkish comments from the RBI's MPC minutes, which suggested that a premature pause in rate tightening would be a 'costly policy error at this juncture'," said Vinod Nair, Head of Research at Geojit Financial Services. <div type="image" title="sectoral-indices (1)" msid="96431027" hostid="261"></div> Reserve Bank of India governor Shanktikanta Das’s <a href="https://www.businessinsider.in/finance/news/rbi-governor-shaktikanta-das-against-pause-in-rate-hikes-mpc-minutes/articleshow/96401785.cms">commentary</a> about a premature pause in monetary policy action being a costly policy error amid inflationary pressure also weighed on the sentiments. Brent crude oil continued to rise, edging up to $83.6 per barrel after an increase of 1.7%, while rupee appreciated 8 paise to 82.76 against the US dollar. <div type="image" title="daily-gain-loss" msid="96431011" hostid="261"></div> Insurance company stocks <a href="https://www.businessinsider.in/stock-market/news/insurance-stocks-climb-on-governments-common-licence-proposal-for-all-insurance-businesses/articleshow/96398989.cms">continued to rise</a> after the government’s proposal of a single license to sell all insurance and financial products as the finance ministry proposed amendments ahead of the budget session. Meanwhile, Asian markets were mixed on Thursday with Shanghai SE Composite Index falling 0.46% while Hang Seng rose 2.71%, Taiwan SE Weighted Index gaining 1.47% and KOSPI up 1.19%. In the US, the Dow Jones closed 1.60% higher, tech heavy Nasdaq gained 1.54% and S&amp;P 500 was up 1.49% aided by strong quarterly earnings from Nike, FedEx and improving US consumer confidence, which rose to eight month high in December. Foreign institutional investors (FII) and domestic institutional investors (DII) were net buyers on Thursday infusing ₹928.63 and ₹2,206.59 crore respectively. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-wilmar-hariom-pipe-industries-and-venus-pipes-tubes-among-top-ipos-that-gave-multibagger-returns-in-2022/articleshow/96425571.cms">Adani Wilmar, Hariom Pipe Industries, and Venus Pipes &amp; Tubes among top IPOs that gave multibagger returns in 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/indias-hiring-intent-rises-in-q4-led-by-positive-sentiment-in-ecommerce-telecom-and-educational-services-industries/articleshow/96424123.cms">India’s hiring intent rises in Q4 led by positive sentiment in ecommerce, telecom and educational services industries</a>

Sensex, Nifty50 fall for the third consecutive day due to rising Covid concerns – all sectors except IT decline

<keyword id="513422" type="General" weightage="20" keywordseo="retail-inflation" source="Orion">Retail inflation</keyword> soared to an eight-year high of 7.79 per cent in April on annual basis mainly due to stubbornly high food prices, remaining above the RBI's upper tolerance level for the fourth month in a row. Inflation based on the Consumer Price Index (CPI) was 6.95 per cent in March this year and 4.23 per cent in April 2021. Inflation in the food basket rose to 8.38 per cent in April from 7.68 per cent in the preceding month and 1.96 per cent in the year-ago month. The Reserve Bank of India has been mandated by the government to ensure that inflation remains at 4 per cent with a margin of 2 per cent on either side. The retail inflation has remained above 6 per cent since January 2022. After the off-cycle Monetary Policy Committee (MPC) meeting of RBI last week, RBI Governor Shaktikanta Das had said the adverse effects of the unprecedented high global food prices due to the ongoing geopolitical situation are reflecting in the domestic market as well, and going forward inflationary pressures are likely to continue. Meanwhile, sources said the central bank is likely to raise inflation projections in the MPC meeting next month and would also consider a rate hike to tame inflation which is above its comfort level. Earlier this month, the MPC raised the key policy rate (repo) by 40 basis points with an aim to tame the rising inflation. It was the first rate hike after August 2018. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/lic-ipo-check-out-analysts-view-on-whether-to-sell-or-hold-lic-ipo-post-listing/articleshow/91515679.cms">LIC IPO might list at a discounted price; Here’s analysts view on whether to sell or hold LIC ipo post listing</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/venus-pipes-and-tubes-ipo-heres-all-you-need-to-know-about-before-applying/slidelist/91517368.cms">Venus Pipes and Tubes — here’s all you need to know about before applying for its IPO</a>

Retail inflation rises to eight year high in April as food prices spike

<ul><li><keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> closed 1.6% lower on Friday as concerns of a Covid resurgence put the bears in control.</li><li>At the end of the day, all the sectoral indices were in the red with PSU Bank, metal, media, and oil &amp; gas sectoral indices being the top losers.</li><li>The 30-stock index Sensex closed 981 points or 1.6% lower at 59,845 while Nifty50 ended 3201 points or 1.8% down at 17,807</li></ul>India’s benchmark indices Sensex and Nifty50 closed 1.6% lower on Friday as concerns of a Covid resurgence put the bears in control. During the end of the session all the sectoral indices were in the red with PSU Bank, metal, media, oil &amp; gas being top losers. Except two pharmaceutical company stocks – Cipla (0.24%), Divi’s Laboratories (0.22%) and Titan (0.20%) all other stocks in the 50-stock Nifty50 index were in the red. The 30-stock index Sensex closed 981 points or 1.6% lower at 59,845 while Nifty50 ended 3201 points or 1.8% down at 17,807. “<keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword> fell for the fourth consecutive session on December 23, after US stocks sold off in the previous session. Nifty opened with a downgap and kept falling through the day before closing 1.77% or 320.6 points lower at 17806.8. This was the sharpest single day fall in three months. Nifty was the second worst performer in the region after South Korea,” said Deepak Jasani, head of retail research at HDFC Securities. Meanwhile, three out of five top gaining stocks on the Nifty500 index were from the pharmaceutical sector, rallying on hopes of increased demand for drugs as concerns of a Covid resurgence gain momentum. Here are top moving stocks in the Nifty500 index <div type="image" title="nifty-500" msid="96458766" hostid="261"></div> All sectoral indices closed in the red with PSU bank (-6.06%), media (-4.99%), metal (-4.47%), realty (-3.45%), auto (-2.54%), IT (-1.83%) being the top losers. On Thursday, the US reported stronger GDP numbers than expected – its GDP grew 3.2% as against the expectations of 2.9% growth. Crude oil prices took a breather after strong US GDP data showed there’s still some way to go for the Fed to hike rates. Brent crude oil prices fell to $82.1 per barrel on Friday morning from $83.6 when markets closed on Thursday. Global markets in the red on strong US GDP data Markets around the world declined after the US reported strong gross domestic product (GDP) data, stoking fears that the US Fed will continue on its path of <keyword id="136281" type="General" weightage="20" keywordseo="rate-hikes" source="Orion">rate hikes</keyword>. The benchmark S&amp;P 500 index closed Thursday with a decline of 1.45%, while Dow Jones Industrial Average fell 1.05%. The tech-heavy Nasdaq declined 2.18%. In Asia, all the markets were in the red ahead of Christmas. Leading the decline was South Korea’s KOSPI index with a loss of 1.83%, followed by Taiwan SE Weighted Index down 1.19%, Nikkei 225 with a 1.03% decline. The Hang Seng index was down 0.33%, while Shanghai Composite was lower 0.28%. Foreign institutional investors (FII) were net sellers on Friday pulling out ₹706.84 crore while domestic institutional investors (DII) bought ₹3,398.98 crore. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-wilmar-hariom-pipe-industries-and-venus-pipes-tubes-among-top-ipos-that-gave-multibagger-returns-in-2022/articleshow/96425571.cms">Adani Wilmar, Hariom Pipe Industries, and Venus Pipes &amp; Tubes among top IPOs that gave multibagger returns in 2022</a> <a href="https://www.businessinsider.in/careers/news/indias-hiring-intent-rises-in-q4-led-by-positive-sentiment-in-ecommerce-telecom-and-educational-services-industries/articleshow/96424123.cms">India’s hiring intent rises in Q4 led by positive sentiment in ecommerce, telecom and educational services industries</a> <a href="https://www.businessinsider.in/personal-finance/news/gold-set-to-shine-bright-in-2023-as-world-heads-towards-recession/articleshow/96407944.cms">Gold set to shine bright in 2023 as world heads towards recession</a>

Sensex, Nifty50 plunge 1.6% with heavy sell off in PSU Bank and all sectoral indices in the red

<ul><li><keyword id="5863894" type="General" weightage="20" keywordseo="campbell-wilson" source="Orion">Campbell Wilson</keyword> is appointed as the new CEO of Tata’s Air India.</li><li>According to media reports, he will step down from his current position on June 15.</li><li><keyword id="166282" type="General" weightage="100" keywordseo="wilson" source="Orion">Wilson</keyword> has worked in the aviation industry for 26 years.</li></ul>Tata Sons today appointed Campbell Wilson as the new CEO and managing director of Air India. Wilson was earlier the head of the low-cost airline Scoot, a subsidiary of Singapore Airlines (SIA). According to media reports, he will step down from his current position on June 15. Wilson’s appointment comes after former Turkish Airline head IIker Ayci, turned down the job. Tata Sons will have to get a government clearance before appointing a foreign national as the CEO of an airline, as per regulations. “I am delighted to welcome Campbell to Air India. He is an industry veteran having worked in key global markets cutting across multiple functions. Further, Air India would benefit from his added experience of having built an airline brand in Asia. I look forward to working with him in building a world-class airline,” commented N Chandrasekaran, Chairman of Air India. Wilson has worked in the aviation industry for 26 years. He started off as a management trainee with SIA in New Zealand in 1996 and worked for the same company in Hong Kong, Canada, Japan before returning to Singapore in 2011. He served as the senior vice president of sales and marketing of SIA, where he oversaw pricing, distribution, ecommerce, merchandising, branding, marketing, global sales, and the airline’s overseas offices, before returning for a second stint as the CEO of Scoot in April 2020, according to the press release by Tata Sons. At Scoot, Lesliue Thng will replace Wilson, who is currently serving as senior vice president of sales and marketing of Singapore Airlines. Tata Sons has been looking for an executive to lead since it completed its purchase of the Indian national carrier in January. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/venus-pipes-and-tubes-ipo-heres-all-you-need-to-know-about-before-applying/slidelist/91517368.cms">Venus Pipes and Tubes — here’s all you need to know about before applying for its IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-nifty-50-fall-for-fifth-straight-session-april-cpi-data-in-focus/articleshow/91517087.cms">Sensex, Nifty 50 fall for fifth straight session, April CPI data in focus</a>

Meet Campbell Wilson, the new CEO of Tata’s Air India

<ul><li>Indian markets made a negative opening for the week tracking fresh outbreaks of Covid-19 in China, and the outcome of Fed outlook later this week.</li><li>While the 30-stock <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> opened 207 points down at 61,456, the 50-stock Nifty50 opened 61 points down at 18,246. </li><li>Tata Steel, Tata Motors, Zomato and others will be in focus, while Five Star Business Finance and Archean Chemicals are expected to be listed on the exchanges today.</li></ul>Benchmark Indian indices Sensex and <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>50 opened in the red today as fresh outbreaks of Covid-19 in China and the US Fed outlook due later this week looming large. SGX Nifty, an early indicator of how the Indian markets may perform, was down 47 points compared to Nifty50’s close on Friday last week. While the 30-stock Sensex opened 207 points down at 61,456, the 50-stock Nifty50 opened 61 points down at 18,246. Analysts had expected a lower opening for the indices following weak cues from the Asian markets. “Indian markets could open lower, in line with mostly lower Asian markets today and despite mildly higher US markets on Friday,” said Deepak Jasani, head of retail research at HDFC Securities. In the last five days Sensex went down marginally by 0.16% while still remaining above 61,000 level. At the same time, Nifty50 lost 0.42% but maintained its 18,300 level. Asian markets were trading in the red on Monday as investors fretted over rising Covid-19 cases in China turning into additional restrictions. Beijing’s most populous district urged residents to stay at home. China’s Shanghai SE Composite Index fell 0.97%, Hong Kong’s Hang Seng dropped 2.73% followed by Japan’s Nikkei 225 with 0.10% fall. Brent crude oil prices fell to their lowest since September tracking the Covid-19 outbreaks in China, with a decline of over 1.2% to $86.57 per barrel. <cmsannotation type="cmsannotation" annotationid="What happened in the US markets" comment="subhead" text="What happened in the US markets">What happened in the US markets</cmsannotation> US markets shrugged off volatility on Friday, with the S&amp;P 500 gaining 0.48% to close at 3965, while the Dow Jones Industrial Average gained 0.59% to close at 33,746. The tech-heavy Nasdaq Composite remained flat. <cmsannotation type="cmsannotation" annotationid="India’s forex reserves see the best addition in over one year" comment="subhead" text="India’s forex reserves see the best addition in over one year">India’s forex reserves see the best addition in over one year</cmsannotation> India added $14.72 billion to its forex reserves, marking the sharpest gain in over a year, to $544.72 billion. In the week ended November 5, India’s forex reserves stood at $529.99 billion. It is worth noting that the Reserve Bank of India has exhausted $110 billion in the last seven months to keep the Indian rupee from a free-fall. At the end of March 2022, the USD-INR exchange rate stood at 75.91, and it is currently at 81.79. <cmsannotation type="cmsannotation" annotationid="Stocks to watch today" comment="subhead" text="Stocks to watch today"><keyword id="10871893" type="General" weightage="20" keywordseo="stocks-to-watch-today" source="Orion">Stocks to watch today</keyword></cmsannotation> Tata Steel, SAIL, JSW Steel, Hindalco: The Indian government has <a href="https://www.businessinsider.in/policy/news/government-withdraws-export-duty-on-steel/articleshow/95623026.cms">withdrawn</a> the export duty on steel products and iron ore, six months after announcing it on May 21. The export duty cut is in effect from November 19, 2022. Tata Motors: The car maker will replace Dr. Reddy’s Laboratories on the 30-stock Sensex on December 19, 2022. Adani Power and Indian Hotels will also replace Adani Total Gas and Hindustan Petroleum in the BSE 100 and Sensex Next 50 indices. MarutI Suzuki: The car maker launched another affordable car, the Alto K10 with S-CNG technology at ₹5.94 lakh. It is also planning to introduce more models in the sports utility vehicles (SUV) segment to eventually push up its market share in the space. Zomato: Shares of Zomato will also be in focus today after the company announced plans to lay off nearly 3-4% of its workforce to cost. This is after the company’s co-founder Mohit Gupta, intercity head Siddharth Jhewar, and new initiatives head Rahul Ganjoo left the company in the last three weeks. Easy Trip Planners: The EasyMyTrip operator has announced a stock split in the ratio of 1:2, and issue of bonus shares in the ratio of 1:1, with the record date set being November 22. NMDC: The iron ore producer announced plans to spend ₹900 crore over the next three years to ramp up iron ore production from its Kumaraswamy mines in Karnataka. Lock-in period expiry: Logistics firm Delhivery, Syrma SGS Technology, Venus Pipes &amp; Tubes and Tarsons Products are among companies whose promoter lock-in period ends this week. <cmsannotation type="cmsannotation" annotationid="IPO market" comment="subhead" text="IPO market">IPO market</cmsannotation> Five Star Business Finance and Archean Chemicals are expected to be listed on the exchanges today. Meanwhile, real estate company Keystone Realtors is likely to announce the allotment status of its IPO on Monday. <cmsannotation type="cmsannotation" annotationid="Stocks under F&amp;O ban" comment="subhead" text="Stocks under F&amp;O ban">Stocks under F&amp;O ban</cmsannotation> Balrampur Chini, Bhel, Delta Corp, Gujarat Narmada Valley Fertilizers and Chemicals, Indiabulls Housing Finance and Sun TV and Punjab National Bank are among stocks banned under the F&amp;O segment today. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.79% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.23% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.74% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.74% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.58% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.70% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.41% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.64% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.40% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.51% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: NSE, Nifty50, as of 10 a.m., November 21, 2022 SEE ALSO: <a href="https://www.businessinsider.in/finance/news/india-on-course-to-become-worlds-second-largest-economy-by-2050-says-gautam-adani/articleshow/95622223.cms">India on course to become world’s second largest economy by 2050, says Gautam Adani</a> <a href="https://www.businessinsider.in/stock-market/news/buy-on-dips-say-analysts-as-indian-markets-bounce-back-smartly-in-october/articleshow/95454116.cms">Buy on dips, say analysts, as Indian markets bounce back smartly in October</a> <a href="https://www.businessinsider.in/stock-market/news/all-is-not-that-well-say-market-experts-even-as-stocks-chase-new-highs/articleshow/95599973.cms">‘All is not that well’, say market experts even as stocks chase new highs</a>

Indian markets open in the red tracking Covid-19 concerns in China – Tata Steel, Tata Motors, Zomato and others in focus

<ul><li>The 30-stock <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> closed 92 points higher at 61,511 while the <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> ended the day 23 points up at 18,267.</li><li>Investors are awaiting the <keyword id="6356435" type="General" weightage="20" keywordseo="us-federal-reserve" source="Orion">US Federal Reserve</keyword>’s meeting minutes due today that will provide signals to other central banks, say market experts.</li><li>Apollo Hospitals, JSW Steel, SBI, HDFC Life, and Bajaj Finance were the top gainers on the Nifty50 index.</li><li>On the BSE, there were more advances than declines – 1,854 stocks gained while 1,643 stocks ended the day in the red.</li></ul>Indian benchmark indices Nifty50 and Sensex closed higher on Wednesday, albeit with marginal gains, ahead of the monthly expiry of the F&amp;O segment on Thursday. PSU banks, oil &amp; gas, and metals pushed the benchmark indices higher. The 30-stock Sensex closed 92 points higher at 61,511 while the Nifty50 ended the day 23 points up at 18,267. The PSU banks index continued on its upward trajectory with gains of 1.02%, while the Nifty Media index gained the most today with an increase of 1.14%. Banks, financial services, and pharma were other notable gainers today. Asian markets also closed in the green with Japan’s Nikkei 225 closing up 0.61%, Hong Kong’s Hang Seng going up 0.57% and China’s Shanghai SE Composite Index closing 0.26% higher. Meanwhile, all eyes were on the US Federal Reserve’s meeting minutes due today that will provide signals to other central banks. The US Fed has so far raised interest rates six times, totaling 375 basis points. “Interestingly, FII purchases in the last several weeks have lifted the sentiment as well in the cash market. The Nifty VIX closed at 14.04, and we anticipate that Nifty will remain more range-bound over the next few days. The trend of unexpected surprises in inflation figures persisted, but the market once again adopted the adage ‘bad news is good news’,” said a report by Choice Broking. Foreign portfolio investors have been on a buying spree in the financial services sector, pouring in <a href="https://www.businessinsider.in/stock-market/news/fpis-pour-11452-crore-in-financial-services-in-the-first-half-of-november/articleshow/95681904.cms">₹11,452 crore in the first fortnight of November</a>. Brent crude oil prices continued to edge up, gaining 0.57% to hover around $88.2 per barrel. The Rupee fell 18 paise to close at 81.85 against the US dollar. Apollo Hospitals, JSW Steel, SBI, HDFC Life, and Bajaj Finance were the top gainers on the Nifty50 index. Here are the top gainers and losers in the Nifty500 index on Wednesday <div type="image" title="daily-profit-loss-2" msid="95717197" hostid="261"></div>Shares of companies like Tarsons Products, Venus Pipes, Ethos and Go Fashion will be in focus in the coming sessions as their <a href="https://www.businessinsider.in/stock-market/news/nykaa-policybazaar-paytm-among-nine-companies-whose-ipo-lock-in-period-ends-in-november/articleshow/95445657.cms">pre-IPO lock-in period expires in the next few days</a>. “Globally, Investors would keenly wait for Fed’s minutes that are due to be released on Thursday which will set the tone for the US Federal Reserve’s meeting in December. Domestic markets might see some action on the back of F&amp;O monthly expiry and macro data to be released globally,” said Siddhartha Khemka, head - retail research at Motilal Oswal Financial Services. On the BSE, there were more advances than declines – 1,854 stocks gained while 1,643 stocks ended the day in the red. Meanwhile, 111 stocks hit their 52-week high while 70 dropped to their 52-week low. Paytm hits a fresh 52-week low Paytm shares hit a fresh 52-week low of ₹438.35 before closing the day at ₹452.4 with a decline of 5.12%. Overall, Paytm’s shares are down 79% from the issue price of ₹ 2,150. This comes a day after Paytm’s shares clocked a decline of over 11%. A <a href="https://www.businessinsider.in/finance/news/mukesh-ambanis-jio-financial-services-deep-pockets-and-wide-reach-to-challenge-the-likes-of-paytm-bajaj-finance/articleshow/95714425.cms">new report by Macquarie Research</a> states that Jio Financial Services could prove to be a challenge for Paytm, apart from Bajaj Finance. In October, Reliance Industries announced its intent to demerge its financial services business and name it Jio Financial Services, and subsequently list it on the stock exchanges. Foreign institutional investors (FII) were net sellers yet again on Wednesday, pulling out ₹790 crore, while domestic institutional investors (DII) were net buyers, with an investment of ₹414 crore. <div type="image" title="sectoral-indices-2" msid="95717222" hostid="261"></div> <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a href="https://www.businessinsider.in/finance/news/mukesh-ambanis-jio-financial-services-deep-pockets-and-wide-reach-to-challenge-the-likes-of-paytm-bajaj-finance/articleshow/95714425.cms">Mukesh Ambani’s Jio Financial Services’ deep pockets and wide reach to challenge the likes of Paytm, Bajaj Finance</a> <a href="https://www.businessinsider.in/business/corporates/news/women-on-nifty500-company-boards-rise-from-6-in-2014-to-17-6-but-the-pace-is-faltering/articleshow/95709351.cms">Women on Nifty500 company boards rise from 6% in 2014 to 17.6%, but the pace is faltering</a> <a href="https://www.businessinsider.in/business/news/vocal-for-local-online-commerce-unicorn-meesho-joins-ondc-to-aid-local-sellers/articleshow/95704818.cms">Vocal for local: Online commerce unicorn Meesho joins ONDC to aid local sellers</a>

You Searched For "venus pipes tubes ipo" and got 11 results

Earnings shock awaits new IPO investors burnt by listing losses

Bhakti Makwana

Abans Holdings shares tumble 14% after a flat listing on the bourses

Bhakti Makwana

Last day to apply for Delhivery IPO; grey indicates a discounted listing

Bhakti Makwana

Paras Defence & Space Technologies makes space cameras and it just made the best listing post-IPO this year

Sriram

Bhakti

Sensex, Nifty50 fall for the third consecutive day due to rising Covid concerns – all sectors except IT decline

Rounak

Bhakti

Retail inflation rises to eight year high in April as food prices spike

PTI

Sensex, Nifty50 plunge 1.6% with heavy sell off in PSU Bank and all sectoral indices in the red

Rounak

Bhakti

Meet Campbell Wilson, the new CEO of Tata’s Air India

Vaamanaa Sethi

Indian markets open in the red tracking Covid-19 concerns in China – Tata Steel, Tata Motors, Zomato and others in focus

Rounak

Bhakti

Sensex, Nifty50 end a tad higher ahead of F&O expiry – Paytm hits a new 52-week low

Rounak

Bhakti

This guy created a Twitter bot that won him over a thousand 'retweet to win' prizes

Nathan McAlone