Oil prices extended their decline on Wednesday, hovering near the four-month lows touched in the previous session, as signs emerged that more oil tankers stranded in the Gulf since the start of the Iran conflict are preparing to move through the Strait of Hormuz.
The Rs 17.9-crore IPO received a modest response from investors, with the issue being subscribed 2.88 times during the three-day bidding period
The Rs 26.73-crore IPO is entirely a fresh issue of 27 lakh equity shares and will remain open for subscription till June 29
Retail investors can bid for a minimum of 1,200 shares, requiring an investment of Rs 2.54 lakh at the upper end of the price band. The minimum application size for HNI investors is 1,800 shares, amounting to Rs 3.82 lakh.
The IPO will remain open until June 26. It is a book-built issue with a price band of Rs 147-155 per share. The issue comprises a fresh issue and an offer for sale, with the company seeking to raise funds for growth and existing shareholders partially monetising their holdings.
The Rs 88.51-crore IPO was subscribed 2.70 times during the three-day bidding period. The issue saw strong institutional interest, with the qualified institutional buyers (QIB) portion subscribed 20.32 times and the non-institutional investor (NII) category booked 5.10 times. However, the retail portion remained undersubscribed at 0.84 times.
Chuck Akre criticises Wall Street’s fixation on marginal earnings beats and misses, arguing it fuels short-term trading over meaningful analysis. The piece highlights how quarterly expectations distort investor behaviour and emphasises the importance of focusing on business fundamentals, long-term growth, and intrinsic value rather than penny-level earnings surprises.
Investor Sandip Sabharwal cautions that while the defence rally is real, many stock prices have outpaced reality. He favors Bharat Electronics but finds many small-cap defence stocks "obnoxious." Pharma offers decent but unexciting prospects. Sabharwal is constructive on private banks, anticipating accelerated growth. IT valuations are attractive but lack clear triggers. In manufacturing, Bharat Forge stands out, though some power equipment firms are overvalued.
Headline rural wage growth in India is misleading, with underlying increases significantly lower than reported. Rising inflation, reverse migration from cities, and an uncertain monsoon threaten to dampen rural demand. Consumer companies may face squeezed purchasing power as prices climb and real wages stagnate, potentially impacting their profitability and volume growth in upcoming quarters.
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