Latest news with #CapitalGoods
Argaam
21-07-2025
- Business
- Argaam
Obeikan Glass, Saudi Azm to debut on TASI today
Tadawul trading screen The Saudi Exchange (Tadawul) said shares of Obeikan Glass Co. will list in the Main Market (TASI) today, trading with the symbol 4145 in the Capital Goods sector. Moreover, shares of Saudi Azm for Communication and Information Technology Co. will also debut on TASI today, with the symbol 7211 in the Software & Services sector. Obeikan Glass and Saudi Azm's stock prices will trade at a 10% daily fluctuation limit. According to data available with Argaam, Tadawul approved on June 29 the requests of both Obeikan Glass and Saudi Azm to move from the Nomu-Parallel Market to TASI. Obeikan Glass has a capital of SAR 320 million, divided into 32 million shares at a nominal value of SAR 10 per share. The stock's last price on Nomu was SAR 38, which will be its opening price on TASI. Meanwhile, Saudi Azm's capital stands at SAR 30 million, with 60 million shares, at a par value of SAR 0.5 per share. The stock's last price on Nomu was SAR 30.24. The number of TASI-listed companies rose to 239, excluding 19 REITs. The number of companies listed on Nomu dropped to 121, excluding Alwaha REIT Fund. Company Profile: Obeikan Glass Obeikan Glass was established in Riyadh as a closed joint stock company, under the Articles of Association dated Dec. 23, 2006, Ministerial Resolution dated Sept. 9, 2007 and the minutes of the Constituent Assembly dated November 2007. The company manufactures, produces, and sells clear float glass and safety glass. The company was directly listed on the Nomu – Parallel Market on February 7, 2022, with a reference share price set at SAR 68 at the time of listing. Since its listing, the company increased its capital once in November 2023, from SAR 240 million to SAR 320 million, through the distribution of bonus shares. Saudi Azm: Saudi Azm was established in Riyadh as a limited liability company in 2017. It provides management advisory services, repair and maintenance of personal computers and laptops, and selling wired and wireless equipment and devices. The company was directly listed on the Nomu – Parallel Market on March 1, 2022, with a reference trading price set at SAR 70 per share. In June 2023, the company made a stock split, reducing the nominal value per share from SAR 10 to SAR 0.5. Saudi Azm Transition Details Item Nomu TASI Capital (SAR mln) 30.0 30.0 Number of Shares (mln) 3.0 60.0 Par Value per Share (SAR) 10 0.5 Sector Capital Goods Capital Goods Daily Fluctuation Limit 30% 10% Listing Price (SAR) 70.00 30.24 Share Trading Eligibility Qualified investors Any Saudi or foreign person, entity, institution, or fund authorized by the Capital Market Law and its regulations to own and trade securities The following table details companies that have transitioned from Nomu to TASI: Details of Companies' Transition to Main Market Company Board Approval Transfer Application Official Approval Listing Shares on TASI Al Kathiri Oct. 9, 2019 Oct. 15, 2019 Oct. 28, 2019 Nov. 3, 2019 Thob Al Aseel Oct. 6, 2019 Oct. 16, 2019 Nov. 4, 2019 Nov. 10, 2019 Abo Moati Oct. 6, 2019 Oct. 16, 2019 Nov. 4, 2019 Nov. 11, 2019 Raydan Oct. 8, 2019 Oct. 29, 2019 Nov. 17, 2019 Nov. 21, 2019 Baazeem Oct. 7, 2019 Nov. 14, 2019 Nov. 28, 2019 Dec. 4, 2019 Arab Sea Oct. 9, 2019 March 17, 2020 April 12, 2020 April 15, 2020 Al-Omran Feb. 16, 2020 June 15, 2020 July 15, 2020 July 21, 2020 Sadr Sept. 27, 2020 Nov. 2, 2020 Dec. 3, 2020 Dec. 10, 2020 Development Works Food Sept. 12, 2021 Nov. 4, 2021 Nov. 17, 2021 Nov. 23, 2021 Sumou May 15, 2022 May 24, 2023 Aug. 20, 2023 Sept. 7, 2023 Riyadh Cement June 29, 2022 June 18, 2023 Nov. 14, 2023 Dec. 5, 2023 Burgerizzr Oct. 12, 2023 June 13, 2024 Oct. 13, 2024 Nov. 4, 2024 Banan July 4, 2023 June 4, 2024 Nov. 18, 2024 Dec. 9, 2024 Jahez March 19, 2024 July 7, 2024 Nov. 18, 2024 Dec. 10, 2024 Raoom Dec. 14, 2023 June 11, 2024 Jan. 6, 2025 Jan. 27, 2025 Saudi Azm April 18, 2025 May 27, 2025 June 29, 2025 July 11, 2025 Obeikan Glass Dec. 27, 2023 May 23, 2025 June 29, 2025 July 11, 2025 Under the amended listing regulations issued by the CMA, companies planning to transfer from Nomu to TASI are obliged of the following: 1) Firms may only apply to transfer to the Main Market after two calendar years from listing on Nomu. 2) The average aggregate market value of the transferred shares must be at least SAR 200 million in the six-month period prior to the submission of application. 3) An issuer must disclose to the public the board report that includes all related information, before submitting the application. 4) Submitting the board of directors' approval on the transfer before the beginning of the trading session that follows the approval. 5) The issuer must disclose the transfer to the public upon submitting the apgplication. Trading on the issuer's shares will be suspended for a period not exceedin five trading sessions before debuting on the Main Market.
Mint
01-06-2025
- Business
- Mint
Stocks to buy or sell: Dharmesh Shah of ICICI Securities suggests HEG, Larsen & Toubro shares to buy on June 2
Stock market today: The Indian stock markets saw declines for the second week in a row, with both the Nifty 50 and Sensex dropping by nearly 0.4%, ending the week at 24,750 and 81,451, respectively, on May 31. Meanwhile, the Bank Nifty index showed better performance, rising by 0.63% to finish at 55,749, thanks to robust results in the banking sector. Experts note that domestic economic indicators are promising, such as an improved monsoon forecast, a stable inflation trend, and an encouraging Q4 GDP growth rate of 7.4%, which could mitigate risks. The market appears to be anticipating a 25 bps rate cut, which would enhance projections for sectors sensitive to interest rates. While the favourable macroeconomic conditions may uplift investor confidence, the stability of the wider market will rely on substantial earnings growth and diminishing trade disputes. On the technical front, Dharmesh Shah, Vice President at ICICI Securities, expects Nifty 50 to consolidate in the broader range of 25,100-24,500 amid positive bias. Shah has recommended two stocks to buy for short-term. Here's what he expects from Indian stock market next week, along with his stock recommendation. Equity benchmark relatively underperformed its global peers as Nifty 50 dropped 0.5% for the week compared to Dow Jones which gained 1.5%. Meanwhile, broader market endured its outperformance by gaining 1% supported by traction in Capital Goods, PSU Bank and energy sectors. The weekly price action formed a small bear candle, indicating extended breather. Going ahead, we expect prolongation of consolidation in the broader range of 25,100-24,500 amid positive bias wherein stock specific action would prevail. The past two weeks healthy consolidation while sustaining above 20 days moving average depicts inherent strength. In addition to that, formation of higher peak and trough backed by improving market breadth makes us believe, index would eventually resolve above upper band of consolidation and head towards 25,500 in the month of June. Further, we expect volatility to subside gradually as we approached the fag end of earning season and focus will now shift towards upcoming RBI's Policy (to be released on next Friday). Consequently, rate sensitives like financials, auto, realty would be in focus. Key thing to highlight is that, the index has staged a strong 15% rally from April lows. Post that, Nifty 50 has been consolidating over past two weeks wherein it corrected 3%. The elongation of rallies followed by shallow retracement is a is key ingredient of a structural bull market. Hence, we believe ongoing consolidation would set the stage for next leg of up move towards 25,500 wherein strong support is placed at 24,200. On the broader market front, the ratio chart of Nifty 500 / Nifty 100 has staged a strong rebound after finding support from multi years range breakout area. The rising ratio line highlights relative outperformance of the broader market compared to large caps. Meanwhile sector rotation underpinned by improvement in market breadth augurs well for durability of ongoing optimism in the midcap and small cap space. Key monitorable which would validate our positive bias going ahead: a. GDP data b. RBI's commentary on rate cut c. Persistent FII's inflow d. Further weakness in US Dollar index and Brent crude oil prices e. Bilateral Trade Agreement between India and US Dharmesh Shah of ICICI Securities recommends buying HEG, and Larsen & Toubro shares to buy tomorrow. Buy Larsen & Toubro shares in the price range of ₹ 3,420-3,672. He has Larsen & Toubro share price target of ₹ 3,928, and suggests maintaining a stop loss of ₹ 3,264. Buy HEG shares in the price range of ₹ 493-522. He has HEG share price target of ₹ 578, and suggests maintaining a stop loss of ₹ 467. Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 30/05/2025 or have no other financial interest and do not have any material conflict of interest. The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
