Gaja Alternative Asset Management is set to launch its Rs 550 crore IPO on August 19, with a price band of Rs 152-160 per share. The issue comprises a fresh issue and OFS, with proceeds aimed at funding sponsor commitments and strengthening its investment portfolio.
Bharti Airtel could see a 2% rise in ARPU after withdrawing four entry-level prepaid plans, including the popular Rs 299 pack, JM Financial said. Subscribers will now need to opt for the Rs 349 plan, a roughly 16% price hike, while Rs 199 and Rs 219 plans remain unchanged.
Jefferies believes Tata group stocks should remain driven by business fundamentals despite N Chandrasekaran’s planned exit as Tata Sons chairman in February 2027. The brokerage’s top picks are Tata Consumer Products, Tata Steel, Indian Hotels and Voltas.
Paytm management has received a Sebi show-cause notice over the timing and classification of information disclosed in a December 2023 corporate announcement. The company said its key managerial personnel are evaluating the notice and will respond within 14 days. The development comes after Paytm reported strong Q1 FY27 earnings and Bernstein raised its target.
Singtel reported a better-than-expected Q1 FY27 underlying net profit, driven by Optus, regional associates including Bharti Airtel and AIS, and growth in digital and data centre businesses. However, its Singapore telecom operations remained under pressure from intense competition.
​Domestic institutional investors have made a significant impact on the market by increasing their stakes in major companies. Their confidence is evident in their augmented holdings in ICICI Bank and HDFC Bank. Furthermore, strong DII buying activity has been seen in Reliance Industries and Adani Enterprises. Additionally, both Bajaj Finance and Bharti Airtel attracted meaningful DII investments throughout the quarter, showcasing a broad increase in exposure to various Indian equities.
Behari Lal Engineering’s Rs 302-crore IPO saw strong demand, with the issue subscribed over two times on Day 1. The IPO carries a 26% grey market premium, indicating expectations of a strong listing. Investors are also weighing the company’s expansion plans, capacity addition and diversified industrial customer base ahead of the August 14 closing date.
Sebi is considering sweeping SME IPO reforms to broaden eligibility, boost investor participation and reduce listing costs. Proposed changes include allowing companies valued up to Rs 4,000 crore to list on SME platforms, removing minimum trade sizes, and easing market-making and underwriting requirements. The regulator is expected to issue a consultation paper seeking public comments.
Indian equities extended losses on Thursday, with Sensex falling over 150 points and Nifty declining over 95 points amid expiry-day volatility. Bajaj Finance and IndiGo led gains, while M&M and Kotak Mahindra Bank slipped. Broader markets remained mixed, with auto and financial stocks gaining, while IT, metal, pharma and FMCG indices declined.
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