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Economic Times
a day ago
- Business
- Economic Times
Sri Lotus Developers IPO opens for subscription; GMP at 29%. Should you bid?
Sri Lotus Developers and Realty is set to launch its Rs 792 crore IPO today. The IPO aims to tap into investor interest in Mumbai's luxury real estate market. The company plans to use the funds to support ongoing projects and for general corporate needs. Analysts suggest potential investors to consider subscribing for long-term gains and listing benefits. Tired of too many ads? Remove Ads Sri Lotus Developers IPO GMP Sri Lotus Developers company details Tired of too many ads? Remove Ads Should You Subscribe? Sri Lotus Developers and Realty will launch its Rs 792 crore IPO today, eyeing investor interest in the luxury real estate segment of Mumbai. The issue, which is entirely a fresh offer of 5.28 crore shares, will close on August 1. The price band has been set at Rs 140-150 per share, with a lot size of 100 from the IPO will be used to partly fund ongoing projects through its subsidiaries—including Amalfi, The Arcadian, and Varun—and for general corporate of the issue opening, the company is commanding a GMP of Rs 44, which is 29% over the issue company operates predominantly in Mumbai's western suburbs, focusing on ultra-luxury and luxury housing through redevelopment and joint development company had a net profit of Rs 228 crore in FY25, more than doubling from Rs 119 crore a year ago, on revenue of Rs 550 crore. Its EBITDA margin rose sharply to 52.6%, indicating strong by a solid pipeline of 16 projects across Juhu, Andheri, Bandra, Prabhadevi, and Ghatkopar, Sri Lotus is betting big on the rising demand for homes in the Rs 2.5 crore-plus company follows an asset-light approach, largely avoiding land acquisition and instead partnering with housing societies—a model that has allowed faster execution and leaner capital Rathi has issued a "Subscribe - Long Term" call, citing strong execution track record, brand premium, and presence in high-demand micro-markets of Mumbai. It notes that while the valuation appears fully priced at 30.6 times FY25 earnings, the fundamentals support long-term wealth Capital recommends the IPO for listing gains. The brokerage highlights the company's ability to complete projects well before RERA timelines and its premium pricing power, especially in areas like IPO is being managed by Motilal Oswal and Monarch Networth , with shares set to be listed on both NSE and BSE.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
2 days ago
- Business
- Time of India
Mazagon Dock shares in focus as Q1 net profit drops 35% YoY. Should you buy?
Mazagon Dock shares: The state-owned defence firm reported a 35% year-on-year drop in consolidated net profit for the June quarter, coming in at Rs 452 crore versus Rs 696 crore in Q1 FY25. Despite the profit decline, management pointed to strong operational performance and a steady rise in revenue. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Mazagon Dock Shipbuilders will be in focus on Tuesday after the state-run defence PSU reported a 35% year-on-year (YoY) decline in its consolidated net profit for the June quarter. The company posted a profit of Rs 452 crore for Q1 FY26, compared to Rs 696 crore in the corresponding period last the fall in profit, the management highlighted that the quarter saw solid operating performance and a steady uptick in a sequential basis, however, the company delivered robust growth, with net profit rising nearly 39% from Rs 325 crore reported in Q4 from operations rose 11% YoY to Rs 2,625.6 crore, up from Rs 2,357 crore in Q1 FY25. On a quarter-on-quarter basis, though, revenue declined 17% from Rs 3,174 crore in the preceding three months. The company's total income for the quarter stood at Rs 2,914.9 crore, which includes Rs 289.3 crore in other Dock posted an EBITDA of Rs 793.5 crore for the period, with an EBITDA margin of approximately 30.2%. This performance was supported by lower input costs and a stronger contribution from high-margin the Q1 results, domestic brokerage firm Antique has maintained a 'Buy' rating on Mazagon Dock Shipbuilders and set a target price of Rs 3, brokerage noted that elevated provisions during the recent quarter impacted the company's profit margins. However, follow-on orders for the Scorpene and P75I submarines are expected to strengthen the order book and support mid-term flagged potential delays in order awards as a key risk, while also noting that margin volatility from provision spikes is likely behind. The firm has cut its FY26 earnings per share (EPS) estimate by 8.3%, but left its FY27 estimate largely Tuesday, Mazagon Dock Shipbuilders shares closed 3.4% lower at Rs 2,789.80 on the BSE.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
2 days ago
- Business
- Economic Times
Mazagon Dock shares in focus as Q1 net profit drops 35% YoY. Should you buy?
ADVERTISEMENT ADVERTISEMENT ADVERTISEMENT Shares of Mazagon Dock Shipbuilders will be in focus on Tuesday after the state-run defence PSU reported a 35% year-on-year (YoY) decline in its consolidated net profit for the June quarter. The company posted a profit of Rs 452 crore for Q1 FY26, compared to Rs 696 crore in the corresponding period last the fall in profit, the management highlighted that the quarter saw solid operating performance and a steady uptick in a sequential basis, however, the company delivered robust growth, with net profit rising nearly 39% from Rs 325 crore reported in Q4 from operations rose 11% YoY to Rs 2,625.6 crore, up from Rs 2,357 crore in Q1 FY25. On a quarter-on-quarter basis, though, revenue declined 17% from Rs 3,174 crore in the preceding three months. The company's total income for the quarter stood at Rs 2,914.9 crore, which includes Rs 289.3 crore in other Dock posted an EBITDA of Rs 793.5 crore for the period, with an EBITDA margin of approximately 30.2%. This performance was supported by lower input costs and a stronger contribution from high-margin the Q1 results, domestic brokerage firm Antique has maintained a 'Buy' rating on Mazagon Dock Shipbuilders and set a target price of Rs 3, brokerage noted that elevated provisions during the recent quarter impacted the company's profit margins. However, follow-on orders for the Scorpene and P75I submarines are expected to strengthen the order book and support mid-term flagged potential delays in order awards as a key risk, while also noting that margin volatility from provision spikes is likely behind. The firm has cut its FY26 earnings per share (EPS) estimate by 8.3%, but left its FY27 estimate largely Tuesday, Mazagon Dock Shipbuilders shares closed 3.4% lower at Rs 2,789.80 on the BSE.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
3 days ago
- Business
- Time of India
TCS shares slip nearly 2% after company announces over 12,000 job cuts
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Tata Consultancy Services (TCS), India's largest IT exporter, slipped 1.7% to an intraday low of Rs 3,081.20 on BSE on Monday, after the company announced plans to lay off around 2% of its global workforce — roughly over 12,000 employees — over the move comes amid growing macroeconomic uncertainty and increasing AI-led disruptions impacting technology of the end of June 2025, TCS employed 613,069 people globally. In a statement, the company said the layoffs would primarily impact middle and senior grades and are part of TCS's larger journey to become a 'future-ready organisation.'The company added that the deployment of some associates may no longer be feasible under current market company emphasized that the transition is being managed carefully to ensure continuity in client service. Affected employees will receive their full notice period compensation along with additional severance benefits. TCS also plans to provide insurance extensions, outplacement support, counseling, and transition decision follows closely on the heels of legal complaints filed by several employees against TCS's recently modified 'bench policy.' The updated policy reportedly allows just 35 annual days for employees to remain unassigned before being subject to performance-related action, and it requires a minimum of 225 billable days broader IT industry has also shown signs of a slowdown. According to a previous report by ET, job additions across the top six Indian IT majors fell sharply by over 72% in the April–June quarter, with only 3,847 new hires compared to 13,935 in the preceding the layoffs, TCS reaffirmed its commitment to long-term strategic initiatives, including investments in new-age technologies, entry into new markets, deployment of AI at scale, deeper partnerships, and the development of next-generation Friday, TCS shares closed flat at Rs 3,134.35 on the BSE.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Deccan Herald
6 days ago
- Business
- Deccan Herald
Leather, textiles, pharma stocks in limelight; Mirza International zooms 17 pc
New Delhi, Shares of companies related to sectors such as leather, textiles and pharma were in the limelight on Friday morning trade after India and the UK signed a landmark free trade deal, which comes days ahead of the US moratorium on higher tariffs coming to an end, aims to double the USD 56 billion trade between the world's fifth and sixth largest economies by leather-related stocks, Mirza International zoomed 17 per cent, Superhouse Ltd soared 7.35 per cent, AKI India jumped 4.92 per cent and Zenith Exports edged higher by 2.97 per cent on the stocks such as Trident surged 6.91 per cent, S P Apparels jumped 5.20 per cent, Welspun Living climbed 1.77 per cent and Pearl Global Industries went up by 0.90 per of Dr Reddy's Laboratories, Lupin, Sun Pharma, Aurobindo Pharma, Zydus Lifesciences and Cipla were also trading in positive territory.."The India-UK FTA, which is India's first comprehensive trade agreement with a major developed country, has two implications from the market perspective.."One, this FTA will significantly boost trade between both countries, which will be seen as a positive by the market. Two, this FTA along with many other FTAs signed by India with other countries, projects India as a nation committed to free trade," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, fact that this FTA has come during a time of tariff wars is commendable, and hopefully this will improve India's chances of striking a fair-trade deal with the US, Vijayakumar noted.."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," he India has opened its market to various consumer goods, including chocolates, biscuits, and cosmetics, it will gain greater access to export products such as textiles, footwear, gems and jewellery, sports goods, and toys.
