Latest news with #HarshalDasani
Mint
3 days ago
- Business
- Mint
Anthem Biosciences IPO listing date today. GMP, analysts signal strong debut of shares in stock market today
Anthem Biosciences IPO Listing: Anthem Biosciences shares are set to make their debut in the Indian stock market today. The initial public offering (IPO) of specialized fermentation-based APIs manufacturer received stellar demand during its subscription period, and Anthem Biosciences IPO listing date is today. The public issue was open from July 14 to July 16, and Anthem Biosciences IPO allotment date was July 17. Anthem Biosciences IPO listing date is today, 21 July 2025. Anthem Biosciences shares will be listed today on both the stock exchanges, BSE and NSE. 'Trading Members of the Exchange are hereby informed that effective from Monday, July 21, 2025, the equity shares of Anthem Biosciences Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities,' a notice on the BSE said. Anthem Biosciences shares will be a part of Special Pre-open Session (SPOS) on Monday, July 21, 2025, it added, and the stock will be available for trading from 10:00 AM. Ahead of Anthem Biosciences IPO listing today, investors watch out for the trends in grey market premium (GMP) in order to gauge the estimated listing price of the shares. Anthem Biosciences IPO GMP today and analysts signal a strong debut of shares in the Indian stock market today. Here's what Anthem Biosciences IPO GMP indicates: The trends for Anthem Biosciences shares in the unlisted market remains bullish with a strong grey market premium. According to stock market experts, Anthem Biosciences IPO GMP today is ₹ 177 per share. This indicates that Anthem Biosciences shares are available at a premium of ₹ 177 apiece in the grey market than their issue price of ₹ 570 per share. Anthem Biosciences IPO GMP today signals that the estimated Anthem Biosciences share listing price would be ₹ 747 apiece, which is at a 31.05% premium to the IPO price of ₹ 570 per share. Analysts also expect Anthem Biosciences shares to list at a strong premium to its issue price on the stock exchanges. 'Anthem Biosciences is expected to make a strong debut on the stock exchanges. Given the robust investor demand during the IPO particularly from institutional investors, the shares suggest a potential listing in the range of ₹ 700 or higher, translating into a premium of around 20–25%,' said Mahesh M. Ojha, AVP - Research & Business Development, Hensex Securities Pvt. Ltd.. According to him, from a fundamentals perspective, a premium listing appears reasonable. Harshal Dasani Business Head, INVasset PMS, noted that over the weekend, Anthem Biosciences IPO GMP rose further to ₹ 165–170, indicating a likely listing price of ₹ 735–740, or a listing gain of approximately 29%. 'This level of interest reflects extraordinary investor conviction and places Anthem in an elite bracket of biotech listings in India. With no fresh issue component, there is zero dilution and no pressure to deploy new capital. If Q2 earnings keep pace and listing trends match market buzz, Anthem Biosciences could well position itself as the poster child of India's biotech resurgence,' said Dasani. The bidding for the Anthem Biosciences IPO opened on Monday, July 14, and closed on Wednesday, July 16. The IPO allotment date was July 17, and the Anthem Biosciences IPO listing date is today, 21 July 2025. Anthem Biosciences shares will be listed on BSE and NSE. The ₹ 3,395.00-crore Anthem Biosciences IPO was entirely an offer-for-sale (OFS) of 5.96 crore equity shares, issued at a fixed IPO price band of ₹ 570 per share. Anthem Biosciences IPO was subscribed 63.86 times in total, as per the NSE subscription data. The retail portion was booked 5.64 times, while the Non Institutional Investors (NII) segment was subscribed 42.36 times. The Qualified Institutional Buyers (QIBs) category received 182.65 times subscription. JM Financial is the book-running lead manager of the Anthem Biosciences IPO, while Kfin Technologies is the registrar for the issue. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
6 days ago
- Business
- Mint
Why did GMDC share price rally 14% despite weakness in the Indian stock market? Explained
Shares of Gujarat Mineral Development Corporation (GMDC), which is engaged in mining and the extraction of various minerals and metals, surged 14.3% in Friday's intraday session to hit a fresh 52-week high of ₹ 433 apiece. The rally followed reports indicating that the Prime Minister's Office (PMO) is likely to hold a key meeting today to address the intensifying rare-earth magnet crisis. India has been exploring various options over the past few months, including sourcing rare-earth minerals locally, in a bid to reduce its dependence on China—which has imposed restrictions on these critical materials used in automobiles, defence, semiconductors, and other industrial products. New Delhi is reportedly in talks with various domestic companies to establish long-term stockpiles of rare-earth magnets and is also considering offering production-linked incentives (PLI) to support domestic manufacturing. In April, China imposed restrictions on the export of seven key rare earth elements: samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium. These elements are essential in producing magnets like neodymium iron boron (NdFeB) and samarium-cobalt (SmCo), which are used in various applications, including EVs. The resulting global ripple effects have already hit automakers, defense contractors, and wind-turbine manufacturers, underlining the delicate balance in electronics and clean-energy supply chains. Mr. Harshal Dasani, Business Head at INVasset PMS, said that GMDC is stepping into a pivotal role. 'The company is developing a vertically integrated rare-earth hub, encompassing open-pit mining at Ambadungar, beneficiation, and a downstream separation and oxide plant at Bharuch,' he said. Harshal added that the company's initial focus will be on light rare-earth elements—neodymium, praseodymium, lanthanum, and cerium— 'that together form the backbone of NdFeB permanent magnets, essential for EVs and wind turbines.' GMDC plans to ramp up production to approximately 12,000 tonnes per annum of rare-earth oxides by FY28. 'This capacity, if realised, would significantly reduce India's reliance on imports and align with the government's upcoming incentive scheme for domestic magnet production, ultimately bolstering a more resilient and sovereign critical-mineral ecosystem,' he noted. He also pointed out the urgency of such initiatives given China's dominance in the sector. 'Today, China controls roughly 70% of the world's rare-earth mining and nearly 90% of processing capacity. GMDC is India's second-largest Lignite-producing company and top merchant seller of Lignite. It is a State Public Undertaking of the Government of Gujarat. The company is engaged in mining lignite from deposit-rich areas across the state, company markets it to various high-growth industries, including textiles, chemicals, ceramics, bricks and captive power. Its shares have been on an upward run since February, gaining 78%, bringing them close to their all-time high of ₹ 505, which was recorded in February 2024. Looking at the long-term performance, the stock has gained 210% over the last three years and 900% over the last five years. 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.
Mint
6 days ago
- Business
- Mint
Wipro Q1 results: Net profit jumps 10% YoY to ₹3336 crore; interim dividend declared
Wipro Q1FY26 results: Wipro, the country's fourth-largest IT company, released its June quarter results today, July 17, post-market hours. The Bengaluru-based company reported a net profit of ₹ 3,336 crore, marking a 7% QoQ decline but an 10% YoY growth, which came in above analysts' projections of ₹ 3,268 crore. Its constant currency revenue declined both sequentially and year-on-year in, coming in at $2,590 million, down 2% QoQ and 2.3% YoY. The revenue from the IT segment came in at $2,587.4 million, decrease of 0.3% QoQ and 1.5% YoY. In rupee terms, revenue came in at ₹ 22,134 crore as against ₹ 21,964 crore in Q1FY25, which came above the analysts' estimates of 21,829 crore. The EBIT margin has expanded by 80 basis points YoY, reaching 17.3%, supported by operational efficiencies and cost control measures. The company expects revenue from its IT Services business segment to be in the range of $2,560 million to $2,612 million in Q2FY26, translating to a sequential growth guidance of -1.0% to 1.0% in constant currency terms. Harshal Dasani, Business Head at INVasset, said, 'While macro headwinds persist, the Q1 results offer a reassuring blend of earnings beat, consistent free cash flow, and capital return. For long-term investors, the interim dividend and guidance retention provide a measured dose of optimism, with the coming quarters critical to confirm the earnings recovery story.' Wipro reported total bookings (Total Contract Value or TCV) of $4,971 million, showing a sequential improvement compared to $3,955 million in the previous quarter. On a year-on-year basis, bookings also increased from $3,284 million in the same quarter last year. Large deal TCV stood at $2,666 million, up from $1,154 million in the March quarter and $1,154 million in the year-ago period. Srini Pallia, CEO and Managing Director, said 'In a quarter shaped by macroeconomic uncertainty, clients prioritised efficiency and cost optimization. We partnered closely with them to address these needs, resulting in 16 large deals, including two mega deals." "Building on the momentum from last quarter and supported by a strong pipeline, we are well positioned for the second half. AI is no longer experimental - it's central to our clients' strategies, and we are delivering real impact at scale," Srini Pallia further added. The company, alongside the release of its June quarter performance, announced a dividend of ₹ 5 per share to its shareholders, setting July 28, 2025, as the record date for determining the eligible shareholders. The dividend is scheduled to be paid on or before August 15, 2025, according to the company's exchange filing. 'Payment of interim dividend of ₹ 5 per equity share of par value ₹ 2 each to the Members of the Company as on July 28, 2025, being the Record Date. The payment of Interim Dividend will be made on or before August 15, 2025,' said the company in an exchange filing.
Mint
15-07-2025
- Automotive
- Mint
Ola Electric share price extends rally, zooms 22% in two days despite ₹428 crore loss in Q1. What's behind the surge?
Ola Electric shares extended their winning streak to the second straight session on Tuesday, July 15, even as the company reported a net loss of ₹ 428 crore in the first quarter of the financial year 2025-26 (Q1FY26). However, the loss narrowed sequentially, which cheered stock market investors. Apart from this, many operating performance updates — improvement in margins to the auto segment, turning EBITDA positive in June —appeared to be driving the interest in the two-wheeler electric company's stock. Ola Electric shares, which are down almost 69% from their 52-week high levels, witnessed a spurt in buying interest as investors cheered the improvement in Q1FY26 performance over Q4FY25. The loss narrowed from ₹ 870 crore posted in the preceding quarter, even as it widened on a YoY basis. The consolidated revenue from operations stood at ₹ 828 crore during the June quarter, higher than ₹ 611 crore in the March quarter. 'What sparked investor interest was the sequential improvement—losses narrowed significantly from ₹ 870 crore in Q4 FY25—and the operational turnaround in the automotive segment. Notably, the unit achieved positive EBITDA in June and delivered a record gross margin of 25.6%, driven by vertical integration, disciplined cost control under Project 'Lakshya,' and the shift to more efficient Gen‑3 models,' said Harshal Dasani, Business Head, INVasset PMS. 'Market confidence was further bolstered by Ola's guidance for FY26, with projected gross margins of 35–40%, supported by PLI-linked incentives and a target of becoming EBITDA-positive from Q2 onward. The company also introduced rare-earth-free motors, addressing long-term supply chain concerns and adding credibility to its localisation roadmap," Dasani added. Ola expects to sell between 3,25,000 to 3,75,000 vehicles and generate revenue of ₹ 4200 - ₹ 4700 crore in FY26. With Production Linked Incentive (PLI) benefits beginning from Q2 for the Gen 3 product portfolio, gross margin is projected to rise to 35% - 40%, and the company anticipates full-year auto EBITDA of above 5%, the company said in a release post Q1 results. While the headline loss paints a grim picture, the underlying operational metrics indicate a company steadily regaining control and positioning itself for sustainable profitability, he said, adding that this is a classic case of the market rewarding execution clarity over immediate bottom-line performance. Ola Electric share price settled over 18% higher on the BSE following its Q1 results announcement earlier in the day. In intraday today, Ola Electric share price jumped almost 4% to ₹ 48.88, taking the two-day gains to 22%. Global brokerage Goldman Sachs maintained a 'Buy' rating on Ola Electric stock and raised the target price to ₹ 63 from ₹ 60 earlier. HSBC also raised its target for Ola Electric share price to ₹ 49 while maintaining a 'Hold' rating. After multiple misses, punchy gross margin expansion in 1Q was a positive surprise, said HSBC. Yet it remains concerned that the cell business might not be eligible for the PLI benefit, weighing down the company's longer-term margin. However, Kotak Institutional Equities (KIE) retained its 'Sell' rating on Ola Electric stock. "While the company has improved its profitability significantly, volume offtake remains below expectations given muted industry growth and increased competitive intensity, which remains an area of concern. Maintain SELL with an unchanged FV of ₹ 30 based on DCF methodology (3.5X FY2027E EV/sales)," it said.
Mint
08-07-2025
- Business
- Mint
Who climbed the ladder, who ceded ground—inside Amfi's market cap rejig
The Association of Mutual Funds in India's (Amfi) latest semi-annual market-cap reclassification has reshaped the standings of several stocks. While 19 stocks earned promotions—10 midcaps graduated to the largecaps category and nine smallcaps to midcaps—23 underperformers felt the sting of downgrades. Amfi's latest reshuffle, based on average market capitalization between January and June, highlights India's evolving market landscape, where sectors like hospitality, healthcare, and defence are gaining investor favour even as automobile, energy, and information technology stocks slip down the ranks. The reclassification arrives as global markets endure a bumpy ride, chiefly because of global trade tensions triggered by US President Donald Trump's policies. Yet, India's benchmark Nifty 50 index has defied the headwinds, rising by over 8% in the first six months of 2025, highlighting robust investor optimism. 'Amfi's reclassification process reflects a growing focus on relative strength. Even in cases where absolute market-cap growth was flat or negative, companies that performed better than peers found their way up," said Harshal Dasani, business head at INVasset PMS, a portfolio management services provider. Major ascents Among the most notable upgrades in Amfi's reshuffle is Indian Hotels Co. Ltd, which has been bumped up from midcap to largecap status. The Tata Group-backed hospitality company's average market cap as of 30 June stood at ₹1.1 trillion, translating to an 11.5% rise since December. Its re-rating reflects strong investor interest in the travel and hospitality rebound post the covid lockdowns. Defence-related state-owned companies Solar Industries India Ltd and Mazagon Dock Shipbuilders Ltd also graduated to largecap status as their market caps surged past ₹1.1 trillion, rising 12% and 17%, respectively, in the first half of 2025. Healthcare and pharma stocks were also well represented in the upgrade cohort, with Max Healthcare Institute Ltd, Mankind Pharma Ltd, and Apollo Hospitals Enterprise Ltd entering the largecap club. Max Healthcare saw a 14% rise in market cap to nearly ₹1 trillion in the first half of this year. Other new largecaps Union Bank of India, Lupin Ltd, and Jindal Steel and Power Ltd, hovered just below the ₹1 trillion mark. Smallcaps step up The growth momentum wasn't confined to the mid-to-largecap space. In a sign of broader market strength, nine smallcap stocks made their way into the midcap category. Godfrey Phillips India Ltd, among India's oldest tobacco and consumer goods companies, gained 15% in market value in the first half of the year, reaching ₹34,704 crore as of 30 June and earning a midcap tag. K.P.R. Mill Ltd, a textile-to-apparel company, gained 8% in that period, reaching a market cap of ₹34,180 crore. Healthcare was prominent in Amfi's latest upgrades, with Narayana Hrudayalaya Ltd, Laurus Labs Ltd, and Global Health Ltd (the operator of Medanta hospitals) rising steadily. Other entrants into the midcap category included Cholamandalam Financial Holdings Ltd, Authum Investment and Infrastructure Ltd, Radico Khaitan Ltd, and Multi Commodity Exchange of India Ltd (MCX). These companies currently have market caps ranging between ₹30,000 crore and ₹33,000 crore, with gains spanning 3% to 28% between 1 January and 30 June. 'The strength in healthcare, defence, and hospitality reflects both short-term catalysts and long-term shifts. The pandemic renewed focus on healthcare and travel infra, while defence is benefitting from policy support and geopolitical tailwinds. These themes could drive sustained investor interest," Dasani of INVasset PMS. Fading joy In the first six months of 2025, 11 largecap stocks were downgraded to midcap, and 12 midcaps slipped into the smallcap category. These declines came primarily in sectors such as automobiles, energy, consumer goods, and IT. Power and energy stocks were among the hardest hit, with NTPC Green Energy Ltd dropping 22% to ₹89,745 crore in the first half of the year, and JSW Energy Ltd tumbling 27% to ₹89,118 crore. Consumer giant Dabur India Ltd, ICICI Prudential Life Insurance Co. Ltd, Bosch Ltd, and Polycab India Ltd also saw double-digit declines, with their market caps sliding below ₹90,000 crore. Among Amfi's mid-to-smallcap downgrades, IRB Infrastructure Developers Ltd and Tata Technologies Ltd led the fall, shedding 17% and 27.5%, respectively, in the first half of 2025. Other notable declines included Endurance Technologies Ltd, Apar Industries Ltd, and Indraprastha Gas Ltd.
