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Tata Group all set for Semiconductors Foray

Tata
10/08/2021

If there is one area where the small country of Taiwan has made a mark in the global business landscape, it is in the manufacture of high-quality of semiconductor chips. Today, semiconductor chips are the brain behind most electrical and electronic equipment that require some form of computing intelligence. Apart from computers and mobile phones, even washing machines, televisions, refrigerators and cars require chips. As manufacturing becomes more complex, dynamic and connected, semiconductors or microchips play a bigger role.

In the last few quarters, the biggest challenge to the global business community has been the shortage of semiconductors. The demand for semiconductors got a geometric boost but the supply has not been able to keep pace. Manufacturing semiconductors is complex, intricate and capital intensive and supply takes time. It is here that the Tatas are sensing a trillion-dollar opportunity to tap globally.

In a speech at the IMC, N Chandrasekharan of Tata Sons announced that the Tatas were looking to leverage on this semiconductor opportunity in a big way. Chandrasekharan added that the Tatas had pivoted high-tech projects in electronics, defence, 5G network equipment etc and was perfectly positioned to ride the semiconductor opportunity. He also added that China disrupting global supply chains opens up a huge opportunity for India to get into semiconductor manufacturing in a big way.

While Chandrasekharan did not elaborate on details, this is obviously part of restructuring of the business lines that Tatas are undertaking. In the last few quarters, Tatas have tried to integrate their defence initiatives, technology initiatives and IT initiatives under clustered baskets. Manufacturing semiconductors requires scale, technology and a powerful balance sheet and the Tatas are certainly positioned to bring in all three. We need to await details of their chip plans.

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CarTrade Tech gets subscribed 0.99X at the close of Day-2

Car trade
IPO
10/08/2021

The Rs.2,999 crore IPO of CarTrade Tech, consisting entirely of offer for sale (OFS), was almost subscribed fully at the close of Day-2. Retail showed the best traction, but action from HNIs and QIBs was still tepid. As per the combined bid details put out by the BSE at the close of Day-2 of the issue, CarTrade IPO was subscribed 0.99X overall, with bulk of the demand coming from retail segment. The issue closes on Wednesday, 11th August.

In terms of numbers, out of the 129.73 lakh shares on offer in the IPO, CarTrade Tech saw applications for 128.91 lakh shares. This implies an overall subscription of 0.99X. The granular break-up of subscriptions was tilted in favour of retail investors.

CarTrade Tech IPO Subscription Day-2

Category

Subscription Status

Qualified Institutional Buyers (QIB)

0.59 Times

Non Institutional Investors (NII)

0.27 Times

Retail Individuals

1.53 Times

Employees

N.A.

Overall

0.99 times

 

QIB Portion

The QIB portion did see some action on Day-2. On 06 Aug, CarTrade did an anchor placement worth Rs.900 crore. The QIB portion, net of anchor allocation, was subscribed 0.59X (getting applications for 21.89 lakh shares against the available quota of 37.06 lakh shares) at the close of Day-2. Strong anchor book is indicative of QIB appetite.

HNI Portion

The HNI portion got subscribed 0.27X (getting applications for 7.51 lakh shares against the quota of 27.80 lakh shares). However, the predominant funded and corporate applications come in on the last day of the issue.

Retail Individuals

The retail portion got subscribed 1.53X at the close of Day-2, showing reasonable retail appetite. Out of the 64.86 lakh shares on offer, valid bids were received for 99.51 lakh shares, of which bids for 78.00 lakh shares were at the cut-off price. The IPO is priced in the band of (Rs.1,585-Rs.1,618) and closes for subscription on Wednesday, 11th August.

 

Read More:

Upcoming IPOs in 2021

IPOs in August 2021

Next Article

Nuvoco Vistas IPO Subscription Day-2

Nuvoco
IPO
10/08/2021

The Rs.5,000 crore IPO of Nuvoco Vistas, consisting of Rs.1,500 crore fresh issue and Rs.3,500 crore OFS, was just partially subscribed on Day-2. As per the combined bid details put out by BSE, Nuvoco Vistas IPO was subscribed 0.29X overall, with demand only visible in the retail segment. The issue closes on 11th August.

In terms of numbers, out of the 625.00 lakh shares on offer in the IPO, Nuvoco Vistas saw applications for 182.55 lakh shares at close of Day-2. This implies an overall subscription of 0.29X. The granular break-up is tilted in favour of retail investors.

 

Nuvoco Vistas IPO Subscription Day-2

Category Subscription Status
Qualified Institutional (QIB) 0.11 Times
Non-Institutional (NII) 0.04 Times
Retail Individual 0.51 Times
Total 0.29 Times

 

QIB Portion

The QIB portion virtually got tepid response on Day-2. On 06 Aug, Nuvoco Vistas did an anchor placement worth Rs.1,500 crore. QIB portion, net of anchor allocation, was subscribed just 0.11X (getting applications for 18.79 lakh shares against the available quota of 178.57 lakh shares) at the close of Day-2.

HNI Portion

The HNI portion got subscribed 0.04X (getting applications for 5.43 lakh shares against the quota of 133.93 lakh shares). However, funded applications and corporate applications typically come in on the last day.

Retail Individuals

The retail portion got subscribed 0.51X at the close of Day-2, showing limited retail appetite. Out of the 312.50 lakh shares on offer, valid bids were received for 158.33 lakh shares, of which bids for 126.56 lakh shares were at the cut-off price. The IPO is priced in the band of (Rs.560-Rs.570) and closes for subscription on Wednesday, 11th August. 

 

Also Read: 

Upcoming IPOs in 2021

New IPOs in August 2021

Next Article

Chemplast Sanmar IPO Subscription Day-1

Chemplast
IPO
10/08/2021

The Rs.3,850 crore IPO of Chemplast Sanmar, consisting of Rs.1,300 crore fresh issue and Rs.2,550 crore OFS, was only partially subscribed on Day-1. As per the combined bid details put out by BSE at the close of Day-1 of the issue, Chemplast Sanmar IPO was subscribed 0.16X overall, with bulk of the demand coming from the retail segment. The issue closes on 12th August.

In terms of numbers, out of the 399.53 lakh shares on offer in the IPO, Chemplast Sanmar saw applications for 64.48 lakh shares. This implies an overall subscription of 0.16X. The granular break-up of subscriptions were tilted in favour of retail investors.
 

Chemplast Sanmar IPO Subscription Status Day 1

Category Subscription Status
Qualified Institutional (QIB) 0.00 Times
Non-Institutional (NII) 0.03 Times
Retail Individual 0.84 Times
Total 0.16 Times

 

QIB Portion

The QIB portion virtually got no response on Day-1. On 09 Aug, Chemplast Sanmar did an anchor placement worth Rs.1,733 crore. QIB portion, net of anchor allocation, was subscribed 0.00X (getting applications for negligible shares against the available quota of 217.92 lakh shares) at the close of Day-1.

HNI Portion

The HNI portion got subscribed 0.03X (getting applications for 3.71 lakh shares against the quota of 108.96 lakh shares). However, funded applications and corporate applications typically come in on the last day only.

Retail Individuals

The retail portion got subscribed 0.84X at the close of Day-1, showing strong retail appetite. Out of the 72.64 lakh shares on offer, valid bids were received for 60.76 lakh shares, of which bids for 50.25 lakh shares were at the cut-off price. The IPO is priced in the band of (Rs.530-Rs.541) and will close for subscription on 12th August. 
 

Also Read: 

Upcoming IPOs in 2021

New IPOs in August 2021

Next Article

Aptus Value Housing Finance IPO Subscription Day 1

Aptus Value
IPO
10/08/2021

The Rs.2,780 crore IPO of Aptus Value Housing, consisting of Rs.500 crore fresh issue and Rs.2,280 crore OFS, was partially subscribed on Day-1. As per the combined bid details put out by BSE at the close of Day-1 of the issue, Aptus Value Housing IPO was subscribed 0.24X overall, with bulk of the demand coming from the retail segment followed by QIBs. The issue closes on 12th August.

In terms of numbers, out of the 551.29 lakh shares on offer in the IPO, Aptus Value Housing saw applications for 130.83 lakh shares. This implies an overall subscription of 0.24X. The granular break-up of subscriptions were in favour of retail investors.
 

Aptus Value Housing Finance IPO Subscription Status Day 1

Category Subscription Status
Qualified Institutional (QIB) 0.25 Times
Non-Institutional (NII) 0.01 Times
Retail Individual 0.33 Times
Total 0.24 Times

 

QIB Portion

The QIB portion got tepid response on Day-1. On 09 Aug, Aptus Value Housing did an anchor placement worth Rs.834 crore. QIB portion, net of anchor allocation, was subscribed 0.25X (getting applications for 39.99 shares against the available quota of 157.51 lakh shares) at the close of Day-1.

HNI Portion

The HNI portion got subscribed 0.01X (getting applications for 0.89 lakh shares against the quota of 118.13 lakh shares). However, funded applications and corporate applications typically come in on the last day only.

Retail Individuals

The retail portion got subscribed 0.33X at the close of Day-1, showing limited retail appetite. Out of the 275.64 lakh shares on offer, valid bids were received for 89.96 lakh shares, of which bids for 73.02 lakh shares were at the cut-off price. The IPO is priced in the band of (Rs.346-Rs.353) and will close for subscription on 12th August.

 

Also Read: 

Upcoming IPOs in 2021

New IPOs in August 2021

Next Article

Vedanta to make a $20 billion capex bet on commodities

Vedantas
10/08/2021

Speaking at the 56th AGM of Vedanta, Anil Agarwal committed investments of $20 billion across various minerals and metals that Vedanta is present in. Vedanta is a diversified commodity conglomerate with interests in aluminium, copper, silver, bauxite, zinc, ferrochrome and oil. 

The reason for this aggression is not hard to seek. Commodities ranging from copper to aluminium to zinc are in a massive bull market rally and the evidence is there in LME prices. It is not certain whether this is the beginning of a long-term commodity cycle. However, analysts are betting on massive commodity demand likely to be generated from electric cars to alternate energy. In short, the time is ripe for a massive conglomerate like Vedanta to embark on aggressive capex investment.

In terms of specific investment time-table, Vedanta has only crystallized investments worth $5 billion in the next 3 years, of which $2 billion will be into oil. In addition, Vedanta plans to double its silver production, considering its diverse applications in everything from microchips to renewable energy. Vedanta also plans to double its steel capacity.

Vedanta is betting on the commodity-GDP effect. The estimate is that, as India’s GDP expands from the current level of $2.6 trillion to $5 trillion, the contribution of mining and metals to the GDP will grow exponentially. Currently, mining contributes 1.5% of GDP and metals contribute another 2% of GDP. Vedanta is expecting this combined contribution to increase from the current 3.5% to the range of 7-10% by the time GDP scales to $5 trillion. The opportunity is certainly massive.

The trigger for this announcement has certainly been the scrapping of retrospective tax amendment, that has given greater confidence to global investors to commit investments to India.