Market Bizzz

Mumbai-based stent manufacturer Sahajanand Medical Technologies is planning to raise up to ₹2,000 crore through an IPO, aiming to fuel global growth. Majority stakeholders Morgan Stanley PE Asia and Samara Capital are expected to partially exit their investment, while the company seeks to strengthen its leadership in India’s drug-eluting stent market.

United Phosphorous Ltd and its chairman Jaidev Shroff have settled with Sebi by paying ₹20.2 crore. Sebi’s investigation revealed that the company, with Shroff’s assistance, misrepresented shareholding and routed funds via overseas accounts to trade in its own shares, making a wrongful gain of ₹4.2 crore.

China’s central bank, the PBOC, injected 500 billion yuan ($70 billion) into money markets via a new reverse repo tool to maintain liquidity in the banking system. This comes as banks face funding pressure and reduced savings, with additional government debt expected to further strain liquidity.

Ashish Shankar, MD & CEO of Motilal Oswal Private Wealth, forecasts a positive outlook for Indian equities due to strong domestic factors. He advocates for a balanced portfolio with investments in equities, gold, and debt products. Shankar identifies digital sectors, capital markets, and real estate as key wealth creators in Samvat 2081.

On Wednesday, online food delivery company Swiggy announced the price band for its upcoming IPO, set at Rs 371-390 per share, raising a total of Rs 11,327.43 crore. The offering includes a fresh issue of shares worth Rs 4,499 crore, along with an offer for sale (OFS) of 17,50,87,963 equity shares.

Shares of Voltas are expected to be in the spotlight on Wednesday after the company reported a 269% year-on-year (YoY) surge in consolidated net profit, reaching Rs 133 crore for the September quarter, compared to Rs 36 crore in the same period last year. This growth was primarily driven by a 56% increase in volume from its room AC business.

Godavari Biorefineries is set to debut on the exchanges on Wednesday, with its shares currently trading at a grey market premium (GMP) of Rs 5. Given the upper price band of Rs 352, the stock is anticipated to experience a flat or possibly negative listing.

The retail investors are on continues surge in the Indian stock markets, a recent report by National Stock Exchange (NSE), highlighted that around 37 lakh new retail investors joined NSE in September taking the total investor base to 10.37 crores.

Gold sees a 30% price surge since last Dhanteras. Experts suggest continued investment, forecasting potential returns of 10-12% by the next Dhanteras amid geopolitical and economic uncertainties. Options include physical gold, ETFs, digital gold, and futures, though SGBs face liquidity challenges.

HDFC Securities recommends buying ICICI Bank shares with a target price of Rs 1,370. ICICI Bank showed strong financial performance in the latest quarter and reported a net profit of Rs 12,947.77 crore. The bank growth was driven by business banking, SME, rural and credit card segments, with healthy deposit growth and maintained asset quality.