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Ami Organics IPO lists at a 49% premium and gets stronger

Ami Organics IPO Listing Price
14/09/2021

Ami Organics had a solid listing on 14 September as it listed at a much better premium than indicated by the GMP and held on to the gains. Ami Organics listed at a premium of 49.18% and traded through the day in a range of Rs.100. The stock closed the day, well above the listing price. With overall subscription of over 64.54X, listing response was in line with the solid subscription.

Here is the Ami Organics listing story on 14 September

Ami Organics IPO price was fixed at the upper end of the band at Rs.610 after the 64.44X subscription. On 14 Sep, the stock of Ami Organics listed on the NSE at a price of Rs.910, a premium of 49.18% over the issue price. On the BSE, the stock listed at a price of Rs.902, a listing premium of 47.87%.

On the NSE, Ami Organics closed at Rs.934.50, a first day closing premium of 53.19% on the issue price. On the BSE, the stock closed at Rs.934.55, a first day closing premium of 53.20% on the issue price.

On Day-1 of listing, Ami Organics touched a high of Rs.966.70 on the NSE and a low of Rs.841. On Day-1, the Ami Organics stock traded a total of 112.15 lakh shares on NSE amounting to value of Rs.1,026.10 crore. On Day-1, Ami Organics was the sixth most liquid stock on the NSE by trading value.

On the BSE, Ami Organics touched a high of Rs.967.25 and a low of Rs.841.20. On BSE, the stock traded a total of 19.46 lakh shares amounting to value of Rs.177.70 crore. At the close of Day-1, Ami Organics had a market capitalization of Rs.3,405 crore with free-float market cap of just Rs.613 crore.
 

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Shree Cements Plans Mega Capacity Expansion

Shree Cements Plans Mega Capacity Expansion
by 5paisa Research Team 14/09/2021

Shree Cements plans to invest a sum of Rs.4,750 crore on expanding its capacity across various products as well as in setting up a captive solar plant. Out of the total outlay of Rs.4,750 crore, a sum of Rs.3,500 crore will go towards enhancing cement capacity, Rs.500 crore towards setting up a state-of-the-art solar power and Rs.700 crore towards its clinker manufacturing capacity.

The integrated cement plant will be set up in Nawalgarh in Rajasthan. The Rs.3,500 crore allocation will be towards cement capacity of 3.50 million tonnes per annum (MTPA). This is higher than its current average capital cost. Shree Cements currently has total cement capacity of 43.40 MTPA and it operates at 67% capacity utilization. 

Shree Cements is the second largest cement player in India after Ultratech. Shree Cements had reported 90% yoy growth in profits in the Jun-21 quarter but the profits had been lower on a sequential basis. That had impacted the sentiments around the stock, but the latest expansion plan has come as a positive for the stock.

The plant will also have a clinker capacity of 3.80 MTPA. The plant is expected to be ready for operation by the end of fiscal year 2023-24. In addition, to tap the huge demand-supply gap in East India, Shree Cements East Private Limited will set up a clinker grinding unit in the Purulia district in West Bengal.

The solar power plant will have a capacity of 106 MW and will supply power to the various plants of Shree Cements. Most cement stocks have rallied sharply as infrastructure demand for cement has been robust and housing demand is expected to pick up in next few quarters. After a very long time, the bargaining power is back with cement manufacturers and they have been able to pass on the spike in input costs to the end customer. That is evident from the recent spike in cement prices.

Also Read: Are Cement Prices Improving?

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Paras Defence IPO - 7 things to know

Paras Defence IPO - 7 things to know
by 5paisa Research Team 14/09/2021

Paras Defence and Space Technologies IPO will open for subscription on 21st September and close on 23rd September. Here are seven things to know about the Paras Defence IPO.


1)    It is engaged in the design, development, production and testing of defence and space engineering products and also solutions. It caters to most of the large defence companies and government sponsored defence research organizations in India.

2)    Paras operates across 5 major product lines viz. Defence optics, Defence electronics, Heavy Engineering, Niche technologies and Electromagnetic pulse protection systems. It almost has a monopoly in the space optics field, which is a kind of an entry barrier.

3)    Paras is among the defence technology companies to largely benefit from the Make in India campaign which proposes to shift production of most of the regular defence purchases to the domestic manufacturers from a strategic standpoint.

4)    The company is profit making and in the year ended Mar-21, Paras reported net profits of Rs.15.79 crore on net sales of Rs.144.61 crore giving a net margin of 10.92%. The company needs to look at improving asset turnover ratios due to front-ending of costs.

5)    The IPO will be a combination of a fresh issue of Rs.140.60 crore plus an offer for sale of 17.245 lakh shares. The price band for the stock is yet to be decided. Paras is also planning an anchor placement ahead of the IPO issue.

6)    The company proposes to finalize the basis of allotment for the IPO by 28th September and the shares will be listed on the stock exchanges on the 01st October. Promoters are holding 88.16% prior to the IPO and this is likely to get diluted post the issue.

7)    The proceeds of the fresh issue will be used for capacity expansion as well as for repaying part of the debt in the books of the company. Anand Rathi is the lead manager to the issue while Link Intime will be the registrar to the issue.
 

Also Read: 

Upcoming IPOs in 2021

IPOs in September

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How to trade the USDINR when the rupee is at Rs.73.448/$?

How to trade in USD INR
by 5paisa Research Team 14/09/2021

Currency traders are likely to be a harried lot in the last month or so. The rupee had weakened to about Rs.74.60/$ just a month ago. However, there was a rapid bout of strengthening of the rupee all the way to Rs.72.90/$ before the rupee has once gain weakened to Rs.73.448 as of 15-Sep. The question is; what should currency futures traders do in this kind of volatile currency situation.

Let us first understand the story behind this volatility. Towards the middle of August, it was becoming increasingly clear that the US may consider taper later this year but rate hikes were ruled out. This led to a fall in US bond  yields while the yields in India remained elevated at around 6.2% against 1.27% for the US. This wide rate gap was an incentive for debt flows into India, which strengthened the INR.

However, the Indian economy cannot support a very strong rupee as the fiscal deficit is still high at around 6.8% of GDP and the government borrowings are at an all-time high level. The RBI also would not be too keen to let the rupee strengthen as it would hit the competitiveness of Indian exports.

How to trade this rupee story?

For now it looks like a broadly range-bound trade. The INR could be rangebound for now in the range of Rs.72.80/$ on the stronger side and around 74.20/$ on the weaker side. Around the levels of Rs.74/$, it would be ripe to sell the USDINR as the huge rate differential between Indian benchmark bonds and US benchmark bonds would strengthen the rupee with heavy debt market flows.

However, at below Rs.72.90, it would be a good scenario to go long on the USDINR since the steep fiscal deficit and high borrowing pressure of the government would be key factors weakening the rupee. It is the time for a range-bound trade on the rupee. Of course, since there are multiple factors impacting the rupee/dollar equation, it would be advisable to trade with a stop loss. 

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OYO to Become a Public Limited Company Ahead of IPO

14/09/2021

Low-cost hospitality firm Oyo has taken one more step towards its proposed IPO later this year. During the week, Oravel – the parent company of Oyo Rooms, announced that the registrar of companies (ROC) had approved the conversion of Oravel from a private limited company to public limited company. Accordingly, its name will also stand changed from Oravel Stays Private Limited to Oravel Stays Limited.

Conversion of a private limited company into a public limited company is mandatory for the company to invite the public to subscribe to their shares via an IPO. Clearly, this step appears to be a preparatory step ahead of the forthcoming IPO of the travel and leisure company. A private limited company cannot have more than 50 share owners and hence before any public issue, it is essential to convert to public limited company.

Apart from converting into a public limited company and changing its name, Oravel Stays has approved increase in authorized capital from Rs.1.17 crore to Rs.901 crore. OYO is expected to file its draft red herring prospectus (DRHP) for the IPO in the last week of November and the issue is expected in the first quarter of calendar 2022. The company is in talks with JP Morgan, Citi and Kotak Mahindra Capital for lead managing the issue.

While the actual size of the IPO is not known, the markets are expecting an IPO size of around Rs.11,000 crore. The issue will be a combination of fresh issue and an offer-for-sale by some of early investors in the company. Oyo will be targeting a valuation in the range of $14-16 billion, positioning itself among the premium unicorns in India, like Paytm and Byju’s in terms of valuations.


Many digital platforms have been enthused to raise funds in the Indian market after the successful digital issues of Zomato and CarTrade. A host of other digital plays are already lined for raising funds through the IPO route.

 

Also Read: 

Upcoming IPOs in 2021

IPOs in September

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5 Stocks to Buy Today: September 15, 2021

5 Stocks to Buy Today
15/09/2021

Every morning our analysts scan through the markets universe and chose the best momentum stocks to buy today. The stocks are recommended from a wider list of momentum stocks and only the best ones make it to the top 5 list. We also update on the performance of earlier recommendation every morning to help you with your trading journey. Read on to know the momentum stocks to buy today. The average holding period could be between 7-10 days on average.

List of 5 Stocks to Buy Today

1. BEML Ltd (BEML)

BEML Limited is a Defence PSU Company, is the biggest Defence, Mining, Construction and Rail Coach manufacturer in India with 09 manufacturing units and offices spread PAN India. It manufactures a variety of heavy equipment, such as that used for earth moving, transport and mining. 

BEML Stock Details for Today: 

- Current Market Price: Rs.1,433

- Stop Loss: Rs.1,380

- Target 1: Rs. 1,485

- Target 2: Rs. 1,570

- Holding Period: 1 week

5paisa Recommendation: Strong volumes indicate this is likely to be a coveted stock, thus making it to the top stocks to buy list. 

 

2. Galaxy Surfactants (GALAXYSURF)

Galaxy Surfactants is one of the leading players in the world of Surfactants and Specialty Care Ingredients, exclusively focussed on catering to the Home and Personal Care Industry. It is an Indian MNC that manufactures 200+ products. Caters to 1750+ customers in 80+ countries.

GALAXYSURF Stock Details for Today: 

- Current Market Price: Rs. 3,515

- Stop Loss: Rs. 3,440

- Target 1: Rs. 3,590

- Target 2: Rs. 3,700

- Holding Period: 1 Week

5paisa Recommendation: Our technical analysts observe a breakout in this stock and our experts expect the uptrend to continue today as well.

 

3. CESC Ltd. (CESC)

The Calcutta Electric Supply Corporation (CESC) is a Kolkata-based flagship company of the RP-Sanjiv Goenka Group, born from the erstwhile RPG Group, under the chairmanship of businessman Sanjiv Goenka. CESC is a fully integrated power utility with its operation spanning the entire value chain: right from mining coal, generating power, distribution of power. 

CESC Stock Details for Today: 

- Current Market Price: Rs. 881

- Stop Loss: Rs. 866

- Target 1: Rs. 900

- Target 2: Rs. 925

- Holding Period: 1 Week

5paisa Recommendation:  Strong momentum on this stock is observed.

 

4. Bajaj Electricals (BAJAJELEC)

Bajaj Electricals Ltd. is an Indian consumer electrical equipment manufacturing company based in Mumbai, Maharashtra. It is a part of the ₹380 billion Bajaj Group. It has diversified with interests in lighting, luminaries, appliances, fans, LPG based generators, engineering and projects.

BAJAJELEC Stock Details for Today: 

- Current Market Price: Rs. 1,381

- Stop Loss: Rs. 1,342

- Target 1: Rs. 1,423

- Target 2: Rs. 1,485

- Holding Period: 1 Week

5paisa Recommendation: Buying trend has seen an increase, and is likely to continue. Thus, making it to our list of top 5 stocks to buy today. 

 

5. IPCA Laboratories (IPCALAB)

IPCA has been a crucial healthcare partner in over 120 countries across 6 continents. The company is one of the world’s largest manufacturers and suppliers of over a dozen APIs. These are produced from scratch at fully-automated manufacturing facilities, approved by the world’s most discerning drug regulatory authorities like UK-MHRA, EDQM-Europe, and WHO-Geneva, among others.

IPCALAB Stock Details for Today: 

- Current Market Price: Rs. 2,638

- Stop Loss: Rs. 2,585

- Target 1: Rs. 2,687

- Target 2: Rs. 2,750

- Holding Period: 1 Week

5paisa Recommendation:  Our technical analysts observe the end of sideway trend.  Thus making IPCALAB as one of our strongest recommended Stocks to Buy Today.

 

Share Market Today

SGX NIFTY: 

SGX Nifty indicates flat to positive opening for Indian markets. SGX Nifty is at 17,426.20 levels, higher 39.20 points. (Updated at 7:59 AM).

International Markets:

US Market: US markets see profit booking after a one-day pullback as the undertone remains weak with selling emerging on all rallies.

Inflation comes below expectations which see bond yields hit 1.28%, however lower yields see banks and financials come under selling pressure. Dow Jones ends near 2-month lows while Nasdaq falls for the 6th consecutive day.

Asian Market: Asian markets opened weak with the Japanese 'Nikkei' trading lower by nearly 1% as weak US cues saw profit booking in most Asian indices.

Chinese stocks have been rank underperformers and Hang Seng continues to be the worst performing index over the last month. Metal prices also fall as copper hits one-month lows which could see more pressure on Chinese stocks.
 

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