Hind Rectifiers stock locked at 5% upper circuit on Rs 200 crore order from Indian Railways

Shares of Hind Rectifiers surged 5% to hit the upper circuit on September 23, 2024, following the company's announcement of securing a significant supply order from Indian Railways worth over ₹200 crore. The order, expected to be executed by FY26, was announced through a regulatory filing. This development has sparked investor optimism, leading to a boost in the company's stock price.

The filing further clarified that this order does not involve the promoter group or any related parties, ensuring transparency and compliance. Hind Rectifiers, which was founded in April 1958, specializes in power semiconductors, electronic equipment, and railway transportation equipment, positioning itself as a critical player in the railway and power sectors.

At 12:33 pm on September 23, Hind Rectifiers' shares were locked at ₹858.95 on the NSE, marking a 63% rally this year. This growth has significantly outperformed the broader market, with the Nifty index delivering 19% returns in the same period. Over the past 12 months, the company's stock has surged by 146%, doubling investors' capital compared to Nifty's 31% rise.

Indian Railways remains Hind Rectifiers' largest customer, thanks to its technological expertise in locomotives and coaches. However, the company is diversifying its portfolio by developing new products for private rolling stock manufacturers and expanding into industrial sectors. Additionally, Hind Rectifiers is making strides in the defence and aerospace sectors, having secured certifications and registrations with key organizations. This diversification is expected to drive additional revenue streams in the coming years.

The company's robust financial performance for the quarter ending June 2024 reflected a 38% YoY increase in net income, reaching ₹136.03 crore, while net profits surged by 266% to ₹6.92 crore. In FY24, Hind Rectifiers also declared a ₹1.20 dividend per equity share, rewarding its shareholders as of the close of business on July 25, 2024.

Hind Rectifiers is expected to benefit from the government's ambitious infrastructure development and power sector projects. With its growing presence in diverse industries, the company is well-positioned for future growth.

Wol 3D India
Rappid Valves
Manba Finance
SD Retail Logo
Avi Ansh Textile
Phoenix Overseas
Kalana Ispat
Saj Hotels Ipo

Suzlon Energy Soars: Excluded from Surveillance Framework, Stock Gains Momentum

Shares of Suzlon Energy have seen a notable increase after the company was excluded from the Stage 1 Additional Surveillance Measure (ASM) framework. This decision signals a reduction in regulatory scrutiny, which has been a source of concern for investors. As of now, Suzlon's stock is trading nearly 1% higher at ₹81.65 on the National Stock Exchange (NSE).

Impressive Performance Over the Year
Over the past year, Suzlon Energy's stock has skyrocketed by an impressive 216%, far outpacing the Nifty's 27% rise during the same period. This remarkable growth highlights the company's strong position in the renewable energy sector, attracting significant investor interest.

Understanding the ASM Framework
The Stage 1 ASM framework is a regulatory measure employed by Indian stock exchanges to monitor stocks exhibiting unusual price fluctuations. Stocks placed under this framework require traders to maintain a 100% margin, effectively limiting speculative trading and ensuring market stability. Suzlon's removal from ASM indicates a positive shift in its price behavior, alleviating previous concerns.

Key Stock Metrics
Despite the upward trend, market analysts note that Suzlon's price momentum may be losing steam. Technical Analyst Kushal Gandhi from StoxBox highlights that the stock has encountered resistance near ₹84.30, suggesting that it may be prudent for investors to wait before making new purchases. The relative strength index also shows signs of a downward trend, indicating potential caution for current buyers.

Looking Ahead
As Suzlon Energy continues to navigate the competitive landscape of renewable energy, the removal from the ASM framework is a positive development that could attract further investments. However, investors should closely monitor price movements and technical indicators to make informed decisions.

Conclusion: A Stock to Watch
With its significant gains and improved regulatory status, Suzlon Energy remains a key player to watch in the renewable energy sector. As the company capitalizes on its momentum, investors are advised to stay informed and strategic in their approach.

krn heat exchanger ipo gmp

best indian movies on netflix

manba finance ipo gmp

Kalana Ispat

Phoenix Overseas

Avi Ansh Textile

SD Retail Logo

Western Carriers IPO Soars on Strong Demand, Subscribed 9.43 Times by Day 2

The initial public offering (IPO) of Western Carriers India witnessed robust investor interest, with the issue being oversubscribed 9.43 times by the end of the second day on September 17, 2024. The Kolkata-based logistics company aims to raise ₹493 crore through the offering, comprising a fresh issue of equity shares worth ₹400 crore and an offer-for-sale (OFS) by promoters totaling ₹93 crore.

According to data from the NSE, the IPO received bids for 19.67 crore shares against the 2.08 crore shares on offer. The breakdown of subscriptions showed:

• Retail Individual Investors (RIIs) bid 13.26 times their allocated portion.
• The Non-Institutional Investors (NIIs) segment was subscribed 12.74 times.
• The Qualified Institutional Buyers (QIBs) category saw relatively lower demand, receiving 9% subscription.

In an anchor round held earlier, Western Carriers secured ₹148 crore from leading institutional investors, indicating strong pre-listing interest.

Utilization of IPO Proceeds

The company plans to use the funds raised from the fresh issue for strategic purposes, including:

• ₹163.5 crore towards debt repayment.
• ₹152 crore to finance capital expenditure for acquiring commercial vehicles, shipping containers, and reach stackers.
• The remaining will go towards general corporate purposes.

Company Overview

Western Carriers India is a leading multi-modal logistics player, known for its asset-light business model focused on rail transportation. It serves 1,647 customers across sectors like metals, FMCG, pharmaceuticals, chemicals, and oil and gas. Major clients include Tata Steel, Hindalco, Vedanta, Coca-Cola India, and Cipla.

With the price band set at ₹163-172 per share, the IPO will close on September 19, with shares expected to list on the BSE and NSE shortly after.

Book-Running Lead Managers

The IPO is being managed by JM Financial and Kotak Mahindra Capital, key players in handling high-profile public offerings.

Western Carriers' promising financials, solid client base, and strategic expansion plans make it a notable player in India's booming logistics sector, contributing to the high investor interest.

IPO GMP

Bollywood News

Telegram Channel for Bank Nifty Calls 

Stock Market Roundup: Key Movers and Shakers on September 4, 2024

On September 4, 2024, the Indian stock market saw minor losses, with the Sensex dropping 202.80 points (0.25%) to 82,352.64, and the Nifty falling 81.10 points (0.32%) to 25,198.70. The market was weak, but investors shifted focus towards defensive stocks, especially in the FMCG and pharma sectors. Out of the shares traded, 1,852 advanced, 1,935 declined, and 90 remained unchanged.

 

Key Movers:

·         Exicom Tele Systems (CMP: ₹359.60): Shares fell by 5% after Rakesh Jhunjhunwala's RARE Enterprise sold a 1.3% stake in the company for ₹55.25 crore.

·         Sona BLW Precision Forgings (CMP: ₹721.50): Shares rose around 2% following reports of negotiations to acquire Escorts Kubota's rail engineering business for ₹2,000 crore. The company is also planning a ₹2,000 crore Qualified Institutional Placement (QIP).

·         BEML (CMP: ₹4,108): Shares surged following the Defence Acquisition Council's approval of procurements worth ₹1.4 lakh crore. Heavy trading volumes were observed as 17 lakh shares changed hands, compared to the one-month average of 5 lakh shares.

·         Rama Steel Tubes (CMP: ₹11.76): Shares soared 12% after announcing a strategic partnership with Onix Renewable, with trading volumes exceeding 10 crore shares, over 200% higher than the monthly average.

·         Godfrey Phillips (CMP: ₹6,368): Shares fell over 4% due to reports of the company finalizing the sale of its retail business, 24Seven, to start-up New Shop.

·         General Insurance Corporation of India (CMP: ₹397.50): Shares dropped 6% as the government planned to sell a nearly 7% stake through an offer for sale (OFS) route. The OFS started for non-retail investors, with retail investors and GIC Re employees eligible to bid on September 5.

·         Aether Industries (CMP: ₹934): Shares rose 5% amid high trading volumes, with around 5 lakh shares changing hands, significantly more than the one-month average of 64,000 shares.

·         Oil and Natural Gas Corp (CMP: ₹314.90): Shares fell over 2% due to a decline in crude oil prices, which negatively impacts profit margins for oil drilling companies.

·         HPCL (CMP: ₹444.75): Shares jumped over 4% benefiting from lower crude prices, which reduce input costs and improve profit margins for oil marketing companies.

·         Jubilant Ingrevia (CMP: ₹741): Shares soared around 10% after Equirus Capital raised the target price to ₹900, following the shutdown of Pyridine production by global specialty maker Vertellus.

These movements highlight the market's shifting dynamics and the impact of both corporate actions and broader economic factors.

IPO GMP

Bollywood News

Telegram Channel for Bank Nifty Calls