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Paytm, Policybazaar, five others get SEBI approval for IPOs. Find out more

by 5paisa Research Team 26/10/2021

Stock market investors will soon get a chance to invest in seven more companies that are launching their initial public offerings, in addition to the two companies that are starting their share sales this week.

While beauty products e-tailer Nykaa’s IPO is set to open for subscription on Thursday, Fino Payments Bank’s maiden offering will begin a day later. And seven more companies have received regulatory approval to launch their IPOs.

Four of these seven firms operate in the financial services or fintech domain. These are digital payments company Paytm, insurance marketplace Policybazaar, ESAF Small Finance Bank and Anand Rathi Wealth Ltd. The other three companies are KFC chain operator Sapphire Foods, life sciences company Tarsons Products and HP Adhesives.

These companies had filed their draft red herring prospectuses with the Securities and Exchange Board of India in July and August. They all received SEBI’s approval observations during October 18-22.

Paytm IPO snapshot

Paytm parent One97 Communications Ltd plans to raise Rs 8,300 crore through a fresh issue of shares. The IPO also includes an offer for sale of another Rs 8,300 crore by the company’s existing shareholders.

Paytm founder and chief executive Vijay Shekhar Sharma will sell some of his stake in the offer-for-sale.

In addition, investors who are selling shares include China’s Alibaba Group and sister firm AntPay, Indian venture capital investor Elevation Capital, Japan’s SoftBank and Warren Buffett’s Berkshire Hathaway.

One97 Communications had planned to go public almost a decade ago when its core business was providing value-added services to mobile phone operators, but it didn’t go through with an IPO at the time.

Policybazaar, ESAF, Anand Rathi IPO snapshot

PB Fintech, which operates Policybazaar and credit comparison website Paisabazaar, is planning an IPO of Rs 6,017.50 crore. This comprises a fresh issue of shares worth Rs 3,750 crore and an offer for sale of Rs 2,267.50 crore by existing shareholders including founder Yashish Dahiya and SoftBank.

ESAF Small Finance Bank’s Rs 998-crore IPO includes a fresh issue of shares worth Rs 800 crore and an offer for sale of Rs 198 crore by existing shareholders, according to its DRHP. While its parent company plans to sell shares worth Rs 150 crore, PNB MetLife will divest shares worth Rs 21.33 crore and Bajaj Allianz Life.

The IPO of Anand Rathi Wealth is completely an offer for sale of 1.2 crore shares by promoters and existing shareholders. The company is part of Mumbai-based financial services group Anand Rathi.

Sapphire Foods, Tarsons Products, HP Adhesives IPO snapshots

The IPO of Sapphire Foods, which operates KFC and Pizza Hut outlets, is an offer of sale of 1.76 crore shares by promoters and existing shareholders. The company is not raising any fresh capital.

Apart from promoter group entities, the selling shareholders include funds managed by Mumbai-based financial services firm Edelweiss.

Tarsons Products’ IPO comprises a fresh issue of shares worth Rs 150 crore and an offer for sale of 1.32 crore shares by promoters and an investor.

Its promoters Sanjive Sehgal and Rohan Sehgal will offload up to 3.9 lakh shares and 3.1 lakh shares, respectively. Investor Clear Vision Investment Holdings Pte Ltd will divest up to 1.25 crore shares.

HP Adhesives’ offering consists of a fresh issue of 41.40 lakh shares and an offer of sale of 4.57 lakh shares by promoter Anjana Haresh Motwani. The company makes consumer adhesives and sealants products such as solvent cement, synthetic rubber adhesive, acrylic sealant and PVC pipe lubricant.

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Wardwizard Innovations records highest ever revenue growth of 332% in H1FY22

Wardwizard Innovations records highest ever revenue growth of 332% in H1FY22
by 5paisa Research Team 26/10/2021

Through Joy e-bikes, the company has been providing a greener alternative to traditional fuel-driven bikes.

Wardwizard Innovations and Mobility, one of the leading manufacturers of electric two-wheeler ‘Joy E-bike’, announced its financial results for the second quarter (July- September 2021) of FY22. Clocking the highest ever numbers in this quarter, the company recorded revenues of more than Rs 33.51 crore in Q2 FY22 compared to Rs 6.90 crore in Q2FY21, observing a growth of more than 386%. The half-yearly revenue of this financial year stands at Rs 45.04 crore versus Rs 10.41 crore in FY21, achieving a growth of 332%.

Riding on the sales of more than 5,000 electric two-wheelers, the company reported Profit Before Tax (PBT)of Rs 2.35 crore and Profit After Tax (PAT) of Rs 1.61 crore in Q2FY22, registering a growth of 739% and 475% over the same period the previous year.

Observing an uptick in demand for electric two-wheelers across the country majorly driven by low-speed models, the company has achieved a sales mark of 5,482 units in this quarter, registering a growth of more than 726% compared to the Q2 of FY 2020-21, where the sales stood at 664 units.

During the quarter the company also announced the expansion of annual production capacity from one lakh units to two lakh units in a single shift with the new automatic assembly line at the Vadodara manufacturing plant from October 2021. The EV maker has recently launched ‘JOY E-CONNECT’, a cloud-based mobile application for customers with the new era of technology to enhance their overall riding experience.

Wardwizard Innovations and Mobility Ltd is one of the leading auto manufacturing companies in the Electric Vehicle (EV) segment under the brand name Joy e-bike. It also addressed the home appliance market via its brand Vyom Innovation. Through Joy e-bikes, the company has been providing a greener alternative to traditional fuel-driven bikes. Its footprints are spread across more than 25 major cities across India and aspire to grow this number by length and breadth.

Shares of Wardwizard Innovations and Mobility ended at Rs 76.45 per share, up by 2.34% on Tuesday, 26 October 2021.

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Closing Bell: Market Recap: Nifty reclaims 18,250, Sensex surges by 383 points led by metal, auto and realty stocks

Market Recap: Nifty reclaims 18,250, Sensex surges by 383 points led by metal, auto and realty stocks
by 5paisa Research Team 26/10/2021

Indian markets ended higher for the second consecutive day on Tuesday led by gains in auto, realty and metal stocks.

Domestic equity benchmarks Sensex and Nifty extended gains for the second day in a row on October 26, supported by financial and oil & gas stocks. Buying in Tata Motors, Tata Steel, Titan and Tech Mahindra stocks also aided the overall gain on the bourses today. Broader markets as well surged with the BSE midcap and smallcap gaining over 1.5% each.

At the closing bell on Tuesday, the Sensex closed higher by 383.21 points or 0.63% at 61350.26, and the Nifty ended up by 143.00 points or 0.79% at 18268.40. On the advance-decline ratio, around 2174 shares advanced, 1007 shares have declined, and 150 shares were unchanged.

Top gainers on Tuesday were Tata Motors, Tata Steel, Titan Company and Bajaj Finance. The top losers of the day were IndusInd Bank, ICICI Bank, Power Grid Corp, HUL and NTPC. SBI, HDFC and Kotak Mahindra gained with a spike in volume on Tuesday. These trending stocks also traded at a fresh 52 week on Tuesday.

On the sectoral basis, all indices ended higher with auto, realty, metal, oil & gas indices up by 1-3%.

The share price of Kotak Mahindra Bank jumped as much as 2.74% to Rs 2,219.50 after the bank reported a 23.76% quarter-on-quarter rise at Rs 2,032.01 crore in its net profit for the July-September period of the financial year 2021-22 (Q2 FY22).

On the earnings front, top-tier companies including India's leading car maker Maruti Suzuki, Larsen and Toubro (L&T) and cigarette maker ITC will come out with their report later this week.

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Axis Bank trumps forecasts with 86% surge in Q2 profit as provisions drop

by 5paisa Research Team 26/10/2021

Axis Bank on Tuesday reported a massive 86% jump in standalone net profit for the three months ended September thanks to a sharp drop in provisions for possible bad loans.

India’s third-largest private-sector bank said it posted a net profit of Rs 3,133 crore for the second quarter, up from Rs 1,682 crore clocked during the corresponding period of 2020-21. 

This exceeds expectations of analysts, who had projected the net profit to be around Rs 3,000 crore.

Axis Bank said the surge in profit was mainly on account of a significant growth in its loan book across certain segments, limited restructuring as well as an improvement in asset quality metrics. 

The bank reported an 8% increase in its net interest income for the quarter on a year-on-year basis to Rs 7,900 crore and its lowest gross non-performing asset (NPA) ratio in 20 quarters. 

Axis Bank Q2: Other highlights

1) Gross NPA fell to 3.53% of the loan book from 3.85% in the June quarter and 4.18% a year earlier.

2) Net NPA ratio was at 1.08%, down 12 basis points sequentially but up 5 bps year on year.

3) Specific loan loss provisions stood at Rs 927 crore compared with Rs 2,865 crore in Q1 and Rs 724 crore a year earlier.

4) Total provisions and contingencies fell to Rs 1,735 crore from Rs 3,302 crore in Q1 and Rs 4,343 crore a year earlier.

5) Provision coverage, as a proportion of gross NPAs stood at 70% versus 77% a year earlier.

Axis Bank management commentary

Axis Bank MD and CEO Amitabh Chaudhry said the lender is seeing “solid progress” on the business front. “We continue our focus on SMEs and mid-corporate segments, and on the retail side we see better disbursements and growth driven by secured products,” he said.

The bank said slippages in Q2 moderated due to regulatory forbearances that do not exist in the current quarter. Recoveries and upgrades from NPAs during the quarter were Rs 4,757 crore while write-offs were Rs 2,508 crore. Consequently, net slippages in NPAs (before write-offs) fell to Rs 707 crore from Rs 3,976 crore in the first quarter.

Net slippages in NPAs (before write-offs) for retail loans stood at Rs 697 crore, the bank said.

The bank’s subsidiaries also delivered strong performance with reported total profit after tax of Rs 267 crore, up 38% from a year earlier. Axis AMC’s average AUM for the quarter grew by 52% year on year to Rs 2,38,177 crores and its Q2 profit rose 38% to Rs 74 crore. Axis Finance’s profit jumped 82% to Rs 78 crore while Axis Securities’ net profit for Q2 soared 57% to Rs 61 crore.

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Penny Stock Update: These stocks gained up to 9.76% on Tuesday

Penny Stock Update: These stocks gained up to 9.76% on Tuesday
by 5paisa Research Team 26/10/2021

Today Indian equity markets closed with a green mark after witnessing a downward trend since last week. In today’s trade BSE Realty was the top gainer.

After, a continued downward trend last week, the Indian equity market started this week trading on a very volatile note on Monday and in today’s trade equity markets closed up on a positive note. On October 26, all the sectoral indices have closed up in positive with a green mark.

Nifty 50 and BSE Sensex are up by 143.00 points i.e., 0.79% and 383.21 points i.e., 0.63% in today’s trade respectively. Stocks pulling the BSE Sensex index up are Reliance Ltd, Bajaj Finance Ltd, Kotak Mahindra, Titan Company and Tata Steel Ltd. Whereas, stocks that dragged the BSE Sensex down are ICICI Bank Ltd, IndusInd Bank Ltd, Power Grid Corp of India Ltd, HDFC Bank Ltd and HUL. Moreover, stocks pulling Nifty 50 up are the same as BSE Sensex stocks and Tata Motors. While, stocks pulling Nifty 50 down are ICICI Bank Ltd., HDFC Bank, HUL, IndusInd Bank Ltd and Infosys Ltd.

In today’s trade, S&P BSE Realty, S&P BSE Metal, S&P BSE CONSUMER DURABLES, S&P BSE Basic Material and S&P BSE Smallcap were top gainers which closed up positive. BSE Realty index consisting of stocks such as Brigade Enterprises Ltd, Sunteck Realty Ltd, Prestige Estates Projects Ltd and Mahindra Lifespace Developers Ltd, which are top gainers up by 9%.

Here is the list of penny stock that gained up to 10% on a closing basis on Tuesday, 26 October 2021:

Sr No.    

Stock    

LTP     

Price Gain%    

1.    

Usha Martin Education And Solutions Ltd. 

4.50 

9.76 

2.    

Madhucon Projects Ltd. 

5.20 

9.47 

3.    

A2z Infra Engineering Ltd. 

4.70 

9.30 

4.    

Sanwaria Consumer Ltd. 

0.70 

7.69 

5.    

Andhra Cements Ltd. 

17.85 

5.00 

6.    

Zee Media Corporation Ltd. 

12.65 

4.98 

7.    

PBA Infrastructure Ltd. 

9.55 

4.95 

8.    

Peninsula Land Ltd. 

11.65 

4.95 

9.    

Excel Realty N Infra Ltd. 

3.20 

4.92 

10.    

Celebrity Fashions Ltd. 

10.70 

4.90 

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Bajaj Finance Q2 profit climbs 49% on higher core income, lower provisions

by 5paisa Research Team 26/10/2021

Non-bank lender Bajaj Finance Ltd reported a 49% increase in its standalone net profit for the second quarter, as its core income grew and provisions fell. 

Standalone net profit during the second quarter rose to Rs 1,306 crore for the July-September period from Rs 877 crore a year earlier, the company said.

Consolidated net profit jumped 53% to Rs 1,481 crore. The consolidated figure includes results of two subsidiaries—Bajaj Housing Finance Ltd and Bajaj Financial Securities Ltd.

The lender said its net interest income for Q2 increased by 26% to Rs 4,920 crore as against Rs 3,918 crore in the corresponding period of last year. Loan losses and provisions fell to Rs 1,239 crore from Rs 1,635 crore a year earlier.

During the quarter, the company did accelerated write-offs of Rs 355 crore of principal outstanding on account of Covid-19 related stress and advancement of the write-off policy, Bajaj Finance said.

During the three months ended September, Bajaj Finance booked 6.33 million new loans as compared to 3.62 million loans during the year-ago period. 

Shares of the company climbed 2.7% on Tuesday to end at Rs 7,849.15 apiece on the BSE. The shares have fallen 2% since touching a one-year high of Rs 8,020.20 last week, but are still up 142% over the past one year.

Bajaj Finance Q2: Other highlights

1) Standalone net interest income rose to Rs 4,902 crore, an increase of 26% over the same period last year. 

2) Consolidated net interest income came in at Rs 5,335 crore, an increase of an even higher 28%.

3) The consolidated gross NPA ratio stood at 2.45% against 2.96% in the first quarter.

4) The lender saw its net NPA ratio improve to 1.1% from 1.46% three months before.

5) Assets under management on a standalone basis grew 17% to Rs. 1.23 lakh crore from a year earlier.

6) On a consolidated basis, the AUM rose 22% to Rs 1.67 lakh crore.

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