Dalmia Bharat share price hits record high ahead of Q1 results today. More upside on cards?
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Mint
6 hours ago
- Mint
Nuvama sees 40% upside in THIS multibagger stock. Should you buy?
Multibagger stock: Brokerage firm Nuvama has initiated coverage on AGI Infra with a 'buy' recommendation due to ongoing and upcoming projects, anticipated high cash flows, and increasing demand for residential property. Shares of the construction company closed 1.29 per cent higher at ₹ 1,066.9 on the BSE index after Friday's stock market session, compared to ₹ 1.053.35 at the previous market close. 'We initiate coverage with a 'BUY' rating and a TP of INR1,448, valuing the stock at 1x FY26E NAV. AGI Infra (AGIIL) is among the few reputed real estate players in Punjab, with a dominant presence in Jalandhar, aided by a strong track record of well-received, high-quality projects,' Nuvama said. Operating in a market with limited branded competition, it has built a presence and is expanding into high-demand markets throughout Punjab. With a solid project pipeline and a large, well-situated land bank, it is estimated to benefit from Punjab's rising housing demand, according to the brokerage firm. Nuvama further expects that the ongoing and upcoming residential projects will generate a gross cash flow of ₹ 8,282 crore and a net cash flow of ₹ 2,060 crore. It has been recommended to buy with a target price of ₹ 1,448, an upside of 36%. AGIIL is a Punjab-based real estate developer with presence in cities such as Jalandhar, Ludhiana, Chandigarh, and Mohali. It has delivered over 10 projects. Primarily focused on residential real estate, it is also engaged in the commercial sector. Currently, it has 10 ongoing projects with a total saleable area of 11.32 million square feet, of which 4.98 million square feet remains available for sale. For the financial year ended on March 31, 2025, the company reported a net profit of ₹ 67 crore, compared to ₹ 52 crore posted in the previous year. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Economic Times
7 hours ago
- Economic Times
Reliance Infra, Reliance Power shares slide 10% in 2 days after ED raids sites linked to Anil Ambani
Shares of Reliance Infrastructure and Reliance Power plummeted after Enforcement Directorate (ED) raided Anil Ambani's premises concerning a Rs 3,000 crore Yes Bank loan fraud. The ED's investigation revealed irregularities in loan approvals and potential bribery. Both Reliance Infrastructure and Reliance Power deny involvement, stating the probe relates to separate entities with no impact on their operations. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Sebi flags Reliance Home Finance Both companies respond to ED action Shares of Reliance Infrastructure and Reliance Power have dropped 10% over two sessions, hitting their lower circuits of 5% on Friday after the Enforcement Directorate (ED) raided multiple premises linked to Anil Ambani in a Rs 3,000 crore Yes Bank loan fraud probe. Reliance Power fell 5% to Rs 56.72 on the BSE, while Reliance Infrastructure slid 5% to Rs ED on Thursday carried out searches at 40 to 50 premises connected to Ambani as part of its investigation into suspected money laundering related to loans sanctioned by Yes Bank between 2017 and 2019. According to the agency, these loans, worth around Rs 3,000 crore, were allegedly diverted to shell companies and other group searches, conducted under Section 17 of the Prevention of Money Laundering Act (PMLA), follow two FIRs registered by the Central Bureau of Investigation (CBI) and are based on information provided by the Securities and Exchange Board of India (SEBI), the National Housing Bank, Bank of Baroda , and the National Financial Reporting Authority (NFRA).The ED said its preliminary findings indicate significant irregularities in Yes Bank's credit approval process, including 'back-dated documentation, disbursement of loans on or before approval dates, and absence of due diligence.' Loans were allegedly sanctioned to entities with weak financials and overlapping directorships, raising concerns over possible evergreening of accounts and violations of lending agency also reported signs of possible bribery involving Yes Bank officials, including the bank's promoter, in connection with the scope of the ED's investigation extends to more than 50 companies and 25 individuals. Sebi has separately flagged findings related to Reliance Home Finance Ltd (RHFL), noting that the company's corporate loan book 'more than doubled within a year,' raising concerns over internal control failures and potential regulatory raids and the ongoing probe have weighed on investor sentiment towards Anil Ambani-led group firms, sparking a sell-off in both Reliance Infra and Reliance Power shares Reliance Infrastructure and Reliance Power, in separate exchange filings, denied any involvement in the transactions under investigation and said the enforcement action 'has no operational or financial impact' on their companies noted that the reports 'appear to pertain to allegations concerning transactions of Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL) which are over 10 years old,' adding that both firms are 'separate and independent listed entities with no business or financial linkage to RCOM or RHFL.'They further emphasized that Anil Ambani is not on their board and that any action against RCOM or RHFL 'has no bearing or impact on the governance, management, or operations of Reliance Power.'Reliance Infrastructure added that the ED's actions 'have absolutely no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of Reliance Infrastructure.': Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
10 hours ago
- Mint
Upcoming IPO: Ashish Kacholia-owned Sahajanand Medical Technologies files DRHP for public issue launch
Upcoming IPO: Medical devices company Sahajanand Medical Technologies has filed its draft red herring prospectus (DRHP) with the capital markets regulator, the Securities and Exchange Board of India (Sebi), on Friday, July 25, 2025. Founded by Dhirajlal Kotadia in 2001, Sahajanand Medical Technologies (SMT) Limited specialises in advanced medical devices in vascular and structural heart intervention. Ashish Kacholia, Samara Capital Markets Holding Limited, Kotak Pre-IPO Opportunities Fund and Plutus Wealth Management LLP are the major shareholders in the company. According to the DRHP filing, the company is offering a book-built initial public offering (IPO) with an entirely offer for sale (OFS) component. The company proposed to make an offer-for-sale of up to 2,76,44,231 equity shares to shareholders with a face value of Re 1 apiece. The offer also provides a discounted subscription reservation for eligible employees within the employee reservation section. The public issue consists of stakes of up to 27,00,000 equity shares each of Shree Hari Trust and Dhirajkumar Savjibhai Vasoya, around 1,29,58,126 equity shares by Samara Capital Markets Holding Limited, up to 26,15,750 equity shares by Kotak Pre-IPO Opportunities Fund, and up to 66,70,355 equity shares by NHPEA Sparkle Holding B.V. The offer is conducted through a book-building process, with up to 50% allocated to qualified institutional buyers and at least 15% and 35% assigned to non-institutional and retail individual bidders, respectively, according to the draft papers. The equity shares are proposed to be listed on the NSE and BSE. The book-running lead managers for the public issue are Motilal Oswal Investment Advisors, Avendus Capital Private, HSBC Securities and Capital Markets (India), and Nuvama Wealth Management. MUFG Intime India is the registrar. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
