Market Walk

LIC’s $2.7 billion IPO is expected to be the fifth-largest in the world in CY22

LIC IPO that opens on 04ths May, is likely to set records domestically and also globally

LIC IPO that opens on 04th May, is likely to set records domestically and also globally

The LIC IPO that opens on 04ths May, is likely to set records domestically and also globally. The $2.7 billion IPO will be the fifth-largest IPO in CY22 so far. LG Energy Solutions of South Korea had the biggest IPO this year of $10.8 billion followed by China Mobile IPO at $8.6 billion. The Dubai Electricity & Water Authority IPO at $6.1-billion and the IPO of China National Offshore Oil Corporation (CNOOC) at $5.1 billion were in third and fourth place. The message is that there is still a lot of money available for quality issues.

Tata Steel reported bumper net profits of Rs.9,835 crore for Mar-22 quarter

Tata Steel reported bumper net profits of Rs.9,835 crore for Mar-22 quarter; yoy growth of 37%. Profits were largely driven by other income. Sales revenues surged 38.4% to Rs.69,616 crore in Q4. Incidentally, the total net profits for the full year for Tata Steel was at Rs.41,749 crore, getting the better of TCS which reported full year profits of Rs.38,750 crore. Tata Steel is achieving this feat after 14 long years. Tata Steel announced Rs.51 dividend plus 1:10 stock split to bring the stock into a more popular trading range.

Adani Wilmar strengthens its foothold in India by acquiring the Kohinoor rice brand

The recently listed Adani Wilmar announced the acquisition of several brands, including the “Kohinoor” Basmati brand from McCormick Switzerland GMBH. It will help Adani Wilmar strengthen its food portfolio. The deal size is not known. The Kohinoor acquisition gives AWL full rights over Kohinoor basmati rice and the “Ready-to-Cook & Ready-to-Eat” curries and meals portfolio of Kohinoor. It enhances their value-added products. The branded staples and food products segment has been higher on margins and on profits

Net profits of Titan Company for Mar-22 quarter fell 7.2% to Rs.491 crore

Net profits of Titan Company for Mar-22 quarter fell 7.2% to Rs.491 crore, on account of poor show of jewellery sales. In the Mar-22 quarter, jewellery sales fell by 4.1% to Rs.6,132 crore, on account to of store closures during the third wave of Covid-19. For the Mar-22 quarter, revenues were up 3% at Rs.7,352 crore. Full year revenues for FY22 were 36% higher at Rs.26,411 crore. The next big bet is on Akshaya Tritiya sales. Recently, Tanishq made a major expansion into GCC and the US. Watches grew sharply yoy.

Plaza Wires filed its DRHP with SEBI for its proposed IPO

Plaza Wires filed its draft red herring prospectus (DRHP) with SEBI for its proposed IPO. The typical approval process takes about 2 to 3 months. Delhi-based Plaza Wires is engaged in the manufacturing of wires, aluminum cables, and fast-moving electrical goods (FMEG). The IPO will be a total fresh issue of 164.52 lakh shares to the public with no OFS component. Its existing manufacturing facility at Baddi in Himachal Pradesh has an installed capacity of 12,00,000 standard coils a year. Funds will used to add 8.37 SC capacity.

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