Defence stocks hog limelight Paras Defence zooms 19%
The stock of Paras Defence and Space Technologies zoomed 18.90 per cent, Data Patterns rallied 9.25 per cent, Astra Microwave Products surged 7.10 per cent, Hindustan Aeronautics jumped 5.40 per cent, Mishra Dhatu Nigam soared 4.63 per cent, Bharat Electronics climbed 3.87 per cent and Bharat Dynamics went up by 1.95 per cent on the BSE.
Shares of drone manufacturer Droneacharya Aerial Innovations climbed 2 per cent. In the equity market, the 30-share BSE Sensex declined 200.15 points or 0.24 per cent to settle at 82,330.59. The NSE Nifty dropped 42.30 points or 0.17 per cent to 25,019.80. Defence stocks ended higher on Thursday, Wednesday, Tuesday, Monday, and last Friday as well.
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Business Standard
19 minutes ago
- Business Standard
Mukul Agrawal portfolio smallcap stock soars 12%; zooms 87% from April low
Tatva Chintan Pharma Chem share price today Shares of Tatva Chintan Pharma Chem hit a 52-week high of ₹1,139, as they surged 12 per cent on the BSE in Friday's intra-day trade in an otherwise weak market. A sharp surge in stock price after the company reported healthy earnings for the quarter ended June 2025 (Q1FY26). The stock price of the smallcap specialty chemicals surpassed its previous high of ₹1,101.40 touched on September 25, 2024. It has zoomed by 87 per cent from its 52-week low of ₹610 hit on April 7, 2025. At 09:40 AM; Tatva Chintan Pharma Chem was trading 10 per cent higher at ₹1,119.15, as compared to 0.35 per cent decline in the BSE Sensex. Q1 results - Tatva Chintan Pharma Chem For the April to June 2025 quarter (Q1FY26), Tatva Chintan Pharma Chem reported 33.7 per cent year-on-year (YoY) jump in consolidated profit after tax at ₹6.65 crore. Revenue from operations grew 10.8 per cent at ₹116.86 crore. Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 37.4 per cent YoY at ₹17.33 crore; margins improvement 280 bps at 14.8 per cent. Trends in specialty chemicals landscape The Indian chemical industry got advantage vs China due to Trust deficit between China and the US; stringent environmental regulations since 2015 and large-scale shutdowns in China; customers preference to de-risk the supply chain led to China+1 policy; geopolitical shift after the outbreak of Covid-19 and increased cost of labour. With an increasing awareness of the ill effects of certain chemicals on humans and the environment, there is a growing trend in the chemicals industry to shift towards what is known as 'green' chemicals or more accurately sustainable chemistry. Meanwhile, China holds 39% share in the global chemical industry of which exportable specialty chemicals accounts for ~15-17 per cent while India accounts for merely 1-2 per cent indicating widespread opportunity. The spillover impact of China's declining competitiveness has set the stage for India to intensify its effort to capture larger market share, the company said. Meanwhile, during FY 25, one of the major products of the company SDA (Structure Directing Agents) saw moderation in offtake from its major export destination which is China. Due to higher adoption of LNG Powered trucks by Chinese companies, the company saw substantial decline in SDA demand from Chinese consumers. Further, the Group will be entering into the commercial phase of new products in FY 26 and offtake of new products will be crucial for improvement of business risk profile, Crisil Ratings said in its rationale. Mukul Mahavir Agrawal holds over 1 per cent holding in Tatva Chintan Pharma Chem Investor Mukul Mahavir Agrawal held 300,000 equity shares or 1.28 per cent stake in Tatva Chintan Pharma Chem at the end of June 2025 quarter, the shareholding pattern data shows. Mukul Agrawal held NIL or less than 1 per cent holding in the company at the end of March 2025 quarter, the data shows. According to information available, Mukul Mahavir Agrawal holds over 1 per cent stake in other notable listed companies, including BSE, Neuland Laboratories, Radico Khaitan, Nuvama Wealth Management, PTC Industries and LT Foods.
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Business Standard
19 minutes ago
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Trident up 6% on Q1 results, India-UK FTA; what should investors do?
Trident share price today: Shares of textile fabric manufacturer, Trident, surged over 6 per cent on July 25, 2025, logging an intraday of ₹33.66 per share after the company released its results for the first quarter of financial year 2025-2026 (Q1FY26). At 10:03, Trident shares were trading at ₹33.28, up by 5.55 per cent on the National Stock Exchange. In comparison, NSE Nifty was trading in red, down by 132 points or 0.53 per cent, quoting 24,929.75. The buying on the counter also came on the back of the India-UK trade deal. Trident earnings Q1FY26 Trident's consolidated net profit for the quarter ended June 30, 2025, stood at ₹140 crore, up 89 per cent from ₹73.8 crore reported in the corresponding quarter of the previous fiscal year. However, the company's revenue from operations witnessed a slight decline of 2 per cent to ₹1,706.8 crore in Q1FY26 from ₹1,742.7 crore in the first quarter of the last financial year. However, this decline was offset by a drop in the company's total expenses figure. The textile fabric manufacturer's total expenses for the quarter declined to ₹1,539.16 crore from ₹1,655.59 crore reported in Q1FY25. That apart, the company's board of directors approved the fundraise of an amount not exceeding ₹500 crore via non-convertible debentures (NCDs) in one or more tranches. Besides healthy earnings for the quarter under review, the recent free trade agreement (FTA) between India and the UK also lifted the investor mood. Market analysts believe that certain sectors, especially textiles, are likely to benefit from the deal. "Sectors like textiles, leather, food processing, automobiles, pharmaceuticals and gems and jewellery, which are expected to benefit from the FTA, will be on the market radar," said VK Vijayakumar, chief investment strategist of Geojit Investments. What should investors do? D-Street analysts believe the stock is currently trading at premium valuations, with most positives already priced in. "While the India-UK trade deal contributed to Trident's recent rally, keeping in view the prospective export-driven benefits, strong Q1 results further fueled investor optimism. Existing investors can consider holding the stock at current levels, while new investors can look to accumulate gradually," said Kranthi Bathini, equity strategist at WealthMills Securities. Technically, the stock is trading above its key moving averages of 20-day and 50-day EMAs, reaffirming the strength and persistence of the bullish trend in the near term, as per analysts. "The company benefited from a favourable commodity environment, with cotton prices easing after being a major challenge in the previous year. Based on the current price action, buying on dip is a prudent strategy, so building a fresh long position near ₹30 is recommended, with an upside potential of ₹34 to ₹35 in the near term. To protect against downside risk, it's advisable to put a strict stop loss below ₹28," said Ravi Singh, SVP-retail research, Religare Broking.
News18
42 minutes ago
- News18
IndiQube Spaces IPO GMP Remains Muted, Issue Subscribed 3.02x On Day 3 So Far: Should You Apply?
Last Updated: IndiQube Spaces IPO GMP Today: Its grey market premium has slipped from 5.91% to 4.22%, indicating weak listing for the IPO. IndiQube Spaces IPO GMP Today: The initial public offering of workplace solutions company IndiQube Spaces Ltd is going to be closed today, Friday, July 25. Till 10:19 am on the final day of bidding on Friday, the issue received a 3.02 times subscription, garnering bids for 4,92,05,268 shares as against the 1,62,79,682 shares on offer. The retail and NII participation stood at 8.42x and 2.45x, respectively. The QIB category has received a 1.49x subscription. Its grey market premium has further slipped from 5.91% to 4.22%, indicating weak listing for the IPO. The GMP had stood at 9.70% and 5.91% on Day 1 and Day 2 of the bidding. The IPO was opened for subscription on July 23, 2025. It will be closed today, July 25, 2025. The share allotment will likely be finalised on July 28 (Monday), and the company is expected to be listed on both BSE and NSE on July 30 (Wednesday). The price band of the mainboard IPO, which plans to raise Rs 700 crore, has been fixed in the range of Rs 225 to Rs 237 apiece. At the upper end of the price band, the company's valuation is nearly Rs 5,000 crore. For investors, the minimum lot size for the IPO is 63. It means investors will have to apply for a minimum of 63 shares or in multiple thereof. So, retail investors require a minimum capital of Rs 14,175 to apply for the IPO. IndiQube Spaces IPO GMP According to market observers, unlisted shares of IndiQube Spaces Ltd are currently trading at Rs 247 against the upper IPO price of Rs 237. It means a grey market premium or GMP of Rs 10, which is 4.22% over its issue price, indicating weak listing next week. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. IndiQube Spaces IPO: Should You Apply? Brokerages are divided on the IndiQube IPO, with views ranging from cautious optimism to outright avoidance. The company operates 115 centres across 15 cities and manages 8.4 million sq. ft. of flexible office space as of March 31, 2025. KR Choksey Finserv has a 'Neutral' rating, noting that the IPO is 'fully priced in" compared to peers. It said, 'IndiQube's initial issue is priced at 8.4 times TTM EV/EBITDA versus domestic peer average of 12.2 times, and 47.4 times FY25 EV/Adjusted cash EBITDA." SBI Securities recommends 'Avoid', citing negative free cash flows and valuation concerns. 'The issue is valued at FY25 EV/Adj. EBITDA of 40.7 times, which is at a premium to listed peers like Awfis, which trades at 28.1 times," it said, advising investors to wait and track performance post-listing. Anand Rathi gave a 'Subscribe for long term' rating, highlighting IndiQube's tech-driven 'hub-and-spoke" model and integrated platform MiQube. It said, 'Valued at a P/S of 4.7 times and EV/EBITDA of 14.6 times, we believe the IPO is fully priced but recommend subscribing for long-term growth." Arihant Capital also sees potential in the company's scalable, asset-light model. It said, 'With strong tenant retention and presence in cities like Bengaluru and Pune, the company is well-positioned to benefit from rising demand for flexible workspaces. We recommend a 'Subscribe for listing gain'." Kunvarji Finstock pointed out that the company has been posting losses (weighted average EPS of -Rs 15.07) and thus cannot be valued on P/E basis. Still, it maintained a positive stance: 'Losses are due to Ind AS accounting; we recommend subscribing with a long-term view due to strong market presence and topline growth." SMIFS also recommended a 'Subscribe', supported by industry tailwinds and new offerings like 'Sustainability-as-a-Service'. It said, 'While cash flow risks exist in the short term, IndiQube's service-led strategy and premium locations support a positive long-term outlook." The company is raising Rs 650 crore through issuance of fresh issue and promoters would offload shares worth Rs 50 crore under the Offer for Sale (OFS). WestBridge Capital, a key investor in the firm since 2018, is not divesting any stake in the OFS. IndiQube Spaces raised over Rs 314 crore from anchor investors, a day before its initial share-sale opens for public subscription. The company proposed to utilise the fresh capital to the tune of Rs 462.6 crore towards funding capex for setting up new centres, Rs 93 crore for repayment and rest for general corporate purposes. The company, which was incorporated in 2015, manages a portfolio of 8.40 million sq ft across 115 properties in 15 cities with a total seating capacity of 1,86,719 as of March 2025. This was a growth from 74 centres and 4.94 million Sq ft in March 2023. IndiQube serves 769 clients, out of which 44 per cent clients are Global Capability Centres. The company follows an enterprise-first strategy owing to which 63 per cent of its occupied area comes from clients who have leased over 300 seats. Further, 44 per cent of its revenue is generated from multi centre clients. Its diverse client mix includes Enphase, Myntra, Zerodha, NoBroker, upGrad, Siemens, Juspay, Perfios, Moglix, Ninjacart, Narayana Health and Allegis to name a few. On the financial front, the company reported a total income of Rs 1,103 crore in fiscal 2025, recording a CAGR of 35 per cent from fiscal 2023. The company raised a total of Rs 324 crore in two funding rounds during 2018 and 2022. WestBridge Capital led the investment with Rs 190 crore, followed by Rs 131 crore from the promoters, and the rest came from angel investor Ashish Gupta. ICICI Securities and JM Financial are book-running lead managers to the issue. The equity shares are expected to be listed on July 30 on the BSE and the NSE. About the Author Mohammad Haris Haris is Deputy News Editor (Business) at He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris More Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : initial public offering (IPO) IPO view comments Location : New Delhi, India, India First Published: July 25, 2025, 10:27 IST News business » ipo IndiQube Spaces IPO GMP Remains Muted, Issue Subscribed 3.02x On Day 3 So Far: Should You Apply? Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
