Suntech Infra Solutions shares to list today. GMP hints at strong listing pop
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
Delhi-based construction and equipment rental player Suntech Infra Solutions is set to list on the NSE SME platform on July 2 with a GMP of Rs 41 over the issue price of Rs 86. This suggests a strong potential listing gain of nearly 48% for investors who received allotments in the IPO.The Rs 44.39 crore IPO, which closed on June 27, saw a healthy response from institutional and non-institutional investors, anchored by its position in the B2B infrastructure construction segment and solid financials. The public issue comprised a fresh issue of 39.74 lakh shares and an offer for sale of 11.87 lakh shares.Suntech Infra operates across core infrastructure verticals — including power, oil and gas, steel, cement, and renewable energy — and has ongoing projects worth Rs 186 crore as of July 2024.It also boasts an equipment rental order book worth nearly Rs 10.9 crore, highlighting its integrated civil construction model.In FY24, the company clocked Rs 96.25 crore in revenue, with a net profit of Rs 9.25 crore, up 61% from the previous year.The IPO proceeds will be used to fund working capital and purchase new construction equipment to support project execution.With a strong order book, proven project delivery record, and expanding demand from both government and private infra sectors, Suntech Infra's debut is expected to mirror the optimism in the SME IPO market, even amid broader market choppiness.Given the pre-listing enthusiasm and reasonable valuation, the company may find strong support on the bourses, and investors are keenly watching for a premium listing and sustainable performance in the days ahead.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Indian Express
13 minutes ago
- New Indian Express
Medi Assist Healthcare buys Paramount TPA for Rs 312 crore
MUMBAI: The Bengaluru-based third-party insurance service provider Medi Assist Healthcare Services has acquired 100% stake in the rival firm Paramount Health Services & Insurance TPA for a total consideration of around Rs 312 crore. This acquisition marks pivotal step in Medi Assist's continued growth strategy, reinforcing its position as the country's largest health benefits administrator. The transaction adds Rs 4,000 crore of health premia under administration to the only publicly traded company in this segment in India, Medi Assist said in a statement on Wednesday.
Hans India
14 minutes ago
- Hans India
Sensex, Nifty end lower as investors turn cautious over Trump's tariff deadline
Mumbai: The stock markets ended lower on Wednesday, as investor sentiment remained cautious due to US President Donald Trump's firm stand on the upcoming tariff deadline. The nervousness led to a risk-off mood among investors, pulling the benchmark indices lower. After rising to an intra-day high of 83,935.29, the Sensex lost momentum and closed at 83,409.69, down 287.6 points or 0.34 per cent. The Nifty also declined by 88.45 points or 0.35 per cent to end the day at 25,453.4. "Mixed global cues, particularly ahead of the impending tariff deadline, are driving investor caution,' Vinod Nair of Geojit Investments Limited said. 'Market attention is gradually shifting to crucial Q1 earnings, which have high expectations,' he added. Nair added that the underlying trends such as robust macroeconomic fundamentals and increased government expenditure continue to support market resilience. Among the Sensex stocks, the biggest losers were Bajaj Finserv, L&T, Bajaj Finance, HDFC Bank, and Bharat Electronics. On the other hand, Tata Steel, Asian Paints, Ultratech Cement, Trent, Maruti, and Sun Pharma were among the top gainers. Broader markets followed a similar trend. The Nifty Midcap100 index ended down by 0.14 per cent, while the Nifty Smallcap100 index slipped 0.41 per cent. Sector-wise, Nifty Metal, Consumer Durables, Auto, IT, Pharma, and Healthcare managed to close in the green. However, Nifty Realty, Financial Services, Bank, Oil & Gas, and Media dragged the overall sentiment with losses. The total market capitalisation of all listed companies on the NSE stood at Rs 5.35 trillion. Meanwhile, the India VIX, which measures market volatility, eased slightly by 0.66 per cent to settle at 12.44 points -- suggesting some cooling off in investor nervousness despite the day's losses. Gold traded in a narrow range as market awaits key US data releases. Comex Gold moved between $3327 – $3340, while MCX Gold traded between Rs 97,000 – Rs 97,400. 'The prices expected to remain in the broader range of Rs 96,500 – Rs 97,850 as participants price in potential dollar weakness and upcoming US data, including Non-Farm Payrolls (NFP), ADP non-farm employment, and unemployment figures,' Jateen Trivedi of LKP Securities stated.
India Gazette
15 minutes ago
- India Gazette
India's fiscal consolidation & capex boost went hand-in-hand in Apr-May FY26: UBI Report
New Delhi [India], July 2 (ANI): India has made a promising start to the financial year 2025-26 (FY26), as both fiscal consolidation and capital expenditure (capex) are moving forward together, according to a report by Union Bank of India. The report highlighted that the fiscal deficit for April-May FY26 stood at just Rs 0.13 lakh crore, which is only 0.8 per cent of the Budget Estimates (BE). This is a major improvement compared to the same period last year, when the fiscal deficit was Rs 0.51 lakh crore or 3.2 per cent of the Revised Estimates (RE). The better fiscal position has been supported by a strong rise in revenue receipts, especially a record dividend of Rs 2.69 lakh crore from the Reserve Bank of India (RBI). It stated, 'Overall, the financial year has taken off on a promising note from the perspective of the government's contribution to growth dynamics'. The report also mentioned that the revenue receipts in April-May FY26 rose by 24 per cent year-on-year. Tax revenues increased by 10 per cent, while non-tax revenues jumped by 41.8 per cent. Meanwhile, the government continued its focus on capital spending to support economic growth. Capex in April-May FY26 increased by 54 per cent year-on-year to Rs 2.21 lakh crore, compared to Rs 1.44 lakh crore in the same period last year. This represents 19.7 per cent of the total capex budgeted for the year at Rs 11.21 lakh crore, showing that the government is frontloading spending to stimulate demand. To fund the fiscal deficit, the government used a mix of market borrowings and small savings. Market borrowings were Rs 0.98 lakh crore (9 per cent of BE) and small savings contributed Rs 0.63 lakh crore (18 per cent of BE). In addition, the government's cash balance stood strong at Rs 3.27 lakh crore as of May 2025, giving it flexibility to support further expenditure. The report noted that the big RBI dividend has opened up additional policy space for capex by around Rs 60,000 crore or 0.15 per cent of GDP. While there is a chance that slower GDP growth due to lower inflation could affect fiscal targets, It added that the government remains committed to reducing the fiscal deficit to 4.4 per cent of GDP in FY26, it may be lowered it further down to around 4.2-4.3 per cent. Overall, the data for April and May shows that the government is maintaining a balance between fiscal discipline and growth-supportive spending. (ANI)
