Dhan Manage

Tag: #Stock Market

  • Indo Farm Equipment IPO Draws Massive Response with 227x Subscription, Among the Highest in the Past Year

    The initial public offering (IPO) of Indo Farm Equipment Ltd has made waves, achieving a staggering 227.57 times subscription on the final day of bidding on Thursday. This makes it one of the most heavily subscribed IPOs in the last 12 months, comparable to the Vibhor Steel Tubes IPO in February 2024 (320 times subscription) and Manba Finance in September 2024 (224 times subscription).

    Record-Breaking Numbers Across Investor Categories
    The Indo Farm Equipment IPO received bids for an astounding 192 crore shares against the 84.70 lakh shares on offer, as per NSE data. Breaking it down further:

    • Non-Institutional Investors (NIIs): A jaw-dropping 501.65 times subscription.
    • Qualified Institutional Buyers (QIBs): A robust 242.40 times subscription.
    • Retail Individual Investors (RIIs): 101.64 times subscription.

    This overwhelming response was further bolstered by an anchor investor allotment, which raised over ₹78 crore before the bidding opened to the public.

    Grey Market Premium (GMP) Signals Positive Listing Gains
    Market observers tracking grey market premium (GMP) trends reveal that Indo Farm Equipment shares are commanding a GMP of ₹86, indicating a potential 40% gain upon listing. With a price band of ₹204-₹215 per share, the IPO size has been pegged at ₹260 crore at the upper price band, positioning the company’s market valuation at over ₹1,000 crore.

    IPO Details and Key Dates
    The IPO comprises a fresh issue of 86 lakh equity shares and an Offer-for-Sale (OFS) of 35 lakh equity shares by promoter Ranbir Singh Khadwalia. The allotment of shares is expected to take place on January 3, 2025, while the listing on the exchanges is scheduled for January 7, 2025.

    A Strong Performance Among Recent IPOs
    The Indo Farm Equipment IPO stands out for its extraordinary investor interest, particularly among NIIs and QIBs. It joins the ranks of other highly successful IPOs this year, further underscoring investor confidence in the company’s growth prospects and robust fundamentals.

    Disclaimer: The views and investment tips expressed by experts on Dhan Manage are their own and not those of the platform or its management. Dhan Manage advises users to consult certified financial experts before making investment decisions.

  • Avenue Supermarts (D Mart) Shares Soar 15% After Q3 Revenue Jumps 17.5% YoY

    Highlighting a Stellar Quarter
    Avenue Supermarts, the owner and operator of the popular DMart supermarket chain, delivered a stellar performance in Q3 FY25, sending its stock price soaring by 15% to ₹4,152.75 on the NSE this Friday, January 3. The catalyst? A robust 17.49% year-on-year (YoY) jump in standalone revenue, reaching an impressive ₹15,565.23 crore for the quarter ending December 31, 2024.

    Expansion Drives Growth
    The company continues its aggressive expansion, adding 10 new stores during the quarter, bringing its total store count to 387 as of December 31. DMart’s growth story extends across key regions, with stores spread throughout Maharashtra, Gujarat, Andhra Pradesh, Tamil Nadu, and other major states.

    Comparing the Numbers
    For perspective, the company’s standalone revenue in the same quarter last year was ₹11,304.58 crore—showcasing its ability to consistently grow its top line.

    Q2 Snapshot and Year-to-Date Trends
    Avenue Supermarts had already shown promising momentum earlier in FY25. In Q2, the company reported a 5.78% increase in consolidated net profit, reaching ₹659.44 crore. Revenue for the quarter grew 14.41% YoY to ₹14,444.50 crore, while expenses rose 14.94% to ₹13,574.83 crore. Six new stores were added in Q2, bringing the total to 377 by September 30, 2024.

    Neville Noronha, CEO & Managing Director of Avenue Supermarts, noted that the like-for-like revenue growth for stores older than two years stood at 7.4% for the first half of FY25, with Q2 growth at 5.5%.

    Investor Sentiment Revived
    The strong Q3 performance comes as a breath of fresh air for investors, as Avenue Supermarts’ shares had slipped 8% over the past 12 months. With the latest results, the stock has regained momentum, reinforcing confidence in its long-term growth trajectory.

    A Trusted Retailer on the Rise
    Promoted by billionaire Radhakishan Damani and his family, DMart continues to be a trusted name for essential home and personal products, catering to millions across India. With consistent revenue growth, ongoing store expansions, and a proven business model, Avenue Supermarts is poised for even greater success in the coming quarters.

  • Markets Surge as Bulls Roar: Key Highlights and Stock Picks

    The markets witnessed a strong rally in the last session, with the Sensex soaring 1,400 points and the Nifty climbing nearly 500 points, breaking above its 200-day moving average. Gains were driven by auto, IT, and financial stocks, while broader indices lagged.

    As the earnings season begins, investors will closely monitor Q3 updates. Experts have identified Nifty’s resistance at 24,200 and support around 24,900.

    Global cues remain mixed, with U.S. markets closing lower on the first trading day of 2025, while Asia-Pacific markets traded higher this morning. Key stocks to watch today include Avenue Supermarts, Bank of Maharashtra, and NHPC.

  • US Stock Market Holidays and Timings 2025

    The U.S. stock market observes several holidays throughout the year when major exchanges like the New York Stock Exchange (NYSE) and Nasdaq are closed. These holidays typically align with federal holidays, and when a holiday falls on a weekend, the markets may close on the preceding Friday or the following Monday. It’s important for investors to stay informed about these closures to avoid disruptions in trading and financial planning.

    US Stock Market Holidays for 2025

    Here is a list of the key holidays when the U.S. stock markets will be closed in 2025:

    HolidayDateDay
    New Year’s DayJanuary 1, 2025Wednesday
    Martin Luther King, Jr. DayJanuary 20, 2025Monday
    Washington’s BirthdayFebruary 17, 2025Monday
    Good FridayApril 18, 2025Friday
    Memorial DayMay 26, 2025Monday
    Juneteenth National Independence DayJune 19, 2025Thursday
    Independence DayJuly 4, 2025Friday
    Labor DaySeptember 1, 2025Monday
    Thanksgiving DayNovember 27, 2025Thursday
    Christmas DayDecember 25, 2025Thursday

    Additional Bond Market Holidays

    The bond market also observes certain additional holidays during the year. Here are the days when the bond market will be closed in 2025:

    HolidayDateDay
    Columbus DayOctober 13, 2025Monday
    Veterans DayNovember 11, 2025Tuesday

    Early Stock Market Closures

    In addition to regular holidays, there are a few days when the stock markets close early at 1:00 PM ET. Here are those dates for 2025:

    HolidayDateDay
    Day before Independence DayJuly 3, 2025Wednesday
    Day after ThanksgivingNovember 28, 2025Friday
    Christmas EveDecember 24, 2025Wednesday

    Bond Market Early Closures

    The bond market has several early closures throughout the year, closing at 2:00 PM ET. Here are the days in 2025 when this will occur:

    HolidayDateDay
    Day before Good FridayApril 17, 2025Thursday
    Friday before Memorial DayMay 23, 2025Friday
    Day before Independence DayJuly 3, 2025Thursday
    Day after ThanksgivingNovember 28, 2025Friday
    Christmas EveDecember 24, 2025Wednesday
    New Year’s EveDecember 31, 2025Wednesday

    US Stock Market Timings in India

    The U.S. stock market operates from 9:30 AM to 4:00 PM Eastern Time (ET), which translates to 7:00 PM to 1:30 AM Indian Standard Time (IST), Monday to Friday, excluding holidays. These hours are crucial for traders, investors, and institutions to execute trades, analyze trends, and make investment decisions in one of the world’s largest financial markets.

    Here are the market hours for the NYSE and Nasdaq in both Eastern Time (ET) and Indian Standard Time (IST):

    Market HoursETIST
    Pre-market trading4:00 AM to 9:30 AM1:30 PM to 7:00 PM
    Normal trading hours9:30 AM to 4:00 PM7:00 PM to 1:30 AM
    After-hours trading4:00 PM to 8:00 PM1:30 AM to 5:30 AM

    Disclaimer

    It’s important for investors to stay updated on U.S. stock market holidays and trading hours, as these can impact trading schedules and decision-making. Be sure to check the official market calendar for any last-minute changes or updates.

  • US Stock Market Hours: A Guide for Indian Investors

    The US stock market is the largest and most influential financial market in the world. For investors in India, understanding its trading hours and how they align with Indian Standard Time (IST) is essential for effective participation. This article provides a clear overview of US stock market timings, along with key insights for Indian investors.

    Regular Trading Hours

    The New York Stock Exchange (NYSE) and NASDAQ operate during standard trading hours from 9:30 AM to 4:00 PM Eastern Time (ET). In IST, this translates to 8:00 PM to 2:30 AM. These hours are the busiest and most liquid period, offering the best opportunities for executing trades.

    During this time, the market witnesses high activity as institutional and retail investors participate in buying and selling stocks. Key events such as major economic announcements and corporate news also tend to impact trading during these hours.

    Pre-Market Trading

    Pre-market trading allows investors to react to overnight developments and news before the regular session begins. It occurs from 4:00 AM to 9:30 AM ET, which corresponds to 1:30 PM to 8:00 PM IST. For Indian investors, this session provides a window during the daytime to analyze global market movements and execute trades based on pre-market sentiment.

    However, pre-market trading comes with challenges, including lower liquidity and higher price volatility, which can result in less favorable trade executions.

    After-Hours Trading

    After-hours trading extends the trading day beyond the regular session, running from 4:00 PM to 8:00 PM ET. In IST, this translates to 1:30 AM to 5:30 AM. While this period allows investors to respond to late-breaking news, such as earnings reports released after market close, it also has limitations, such as lower trade volumes and wider bid-ask spreads.

    Key Considerations for Indian Investors

    1. Time Zone Differences: Indian investors need to account for the late-night or early-morning trading hours, especially if they plan to participate during regular or after-hours trading sessions. Managing sleep schedules and staying alert during these periods can be challenging.
    2. Liquidity and Volatility: Regular trading hours offer the highest liquidity and tighter spreads, making them ideal for most trades. In contrast, pre-market and after-hours sessions have limited participation, which can lead to price swings.
    3. Global Market Impact: The US market is heavily influenced by global events, such as Federal Reserve announcements, geopolitical developments, and major earnings releases. Indian investors should stay updated on these factors to make informed decisions.

    Here is US Market timing information for US stock markets with respect to Indian Standard Time (IST):

    1. Regular Trading Hours:
      • US markets (NYSE and NASDAQ) operate from 9:30 AM to 4:00 PM Eastern Time (ET).
      • This corresponds to 8:00 PM to 2:30 AM IST.
    2. Pre-Market Trading:
      • Pre-market trading runs from 4:00 AM to 9:30 AM ET.
      • In IST, this is 1:30 PM to 8:00 PM.
    3. After-Hours Trading:
      • After-hours trading extends from 4:00 PM to 8:00 PM ET.
      • In IST, this is 1:30 AM to 5:30 AM.

    These timings allow Indian investors to participate in pre-market or after-hours sessions during their afternoon or early morning, depending on trading preferences.

    Conclusion

    For Indian investors, understanding US stock market timings is crucial to align trading activities with market dynamics. While the time difference may require adjustments in routine, the opportunities presented by the world’s largest stock market make it worth the effort.

    By focusing on regular trading hours for optimal liquidity and utilizing pre-market or after-hours sessions strategically, Indian investors can enhance their participation in the US market. Staying informed, planning ahead, and managing risks effectively are key to making the most of this global trading arena.

  • Reliance Jio Prepares for India’s Biggest IPO, Estimated at ₹35,000-40,000 Crores

    Key Highlights:

    • Reliance Jio Infocomm, Mukesh Ambani’s telecom company, is gearing up for its Initial Public Offering (IPO).
    • The IPO size is expected to range between ₹35,000-40,000 crores, potentially making it India’s largest-ever IPO.
    • The offering is set to include a mix of fresh issues, offer-for-sale components, and pre-IPO placements.

    Launch Timeline and Structure

    According to The Hindu BusinessLine, Reliance Group plans to launch the IPO in the second half of the year. Sources indicate the IPO will feature both fresh issues and an offer for sale, with a pre-IPO placement also being considered.

    Investment bankers remain optimistic, stating there should be no difficulty in securing subscriptions due to strong demand. The division between the fresh issue and offer-for-sale components is still under discussion, and the size of the pre-IPO placement will depend on the structure of the fresh issue.

    Foreign Investment in Jio Platforms

    Reliance Jio operates under Jio Platforms, which has a 33% stake held by foreign investors. In 2020, Reliance raised $18 billion by selling stakes in Jio Platforms to major global funds, including Abu Dhabi Investment Authority, KKR, Mubadala, and Silver Lake.

    Valuation Estimates

    Brokerages estimate Reliance Jio’s valuation to be around $100 billion, with some sources suggesting it could reach $120 billion. The company’s investments in cutting-edge technologies, such as artificial intelligence and satellite internet services, are expected to enhance its competitive position.

    Recently, Jio Platforms announced a partnership with global technology leader Nvidia to develop AI language models, signaling its focus on innovation. Additionally, RJio has received regulatory approval to launch satellite internet services, further expanding its technological capabilities.

    Market Leadership

    Reliance Jio is India’s largest telecom operator, boasting 460 million wireless subscribers as of October. Over the past five years, Reliance Industries Limited (RIL) has invested approximately $3 billion into building its telecom, internet, and digital businesses.

    With its focus on technology, partnerships, and market dominance, Reliance Jio’s IPO is set to be a landmark event in the Indian equity market.

  • Wall Street ends lower on first trading session of 2025; Tesla weighs

    U.S. stocks finished lower on the first trading day of the year after opening the session higher.

    Wall Street ends lower on first trading session of 2025; Tesla weighs

    • Summary
    • Companies
    • Weekly jobless claims at 211,000, below estimates
    • Tesla slides after deliveries data
    • Crypto stocks rise along with Bitcoin
    • Energy follows oil higher on China optimism
    • Indexes down: Dow 0.36%, S&P 0.22%, Nasdaq 0.16%

    NEW YORK, Jan 2 – Wall Street see-sawed to a lower close on Thursday amid choppy trading, as investors embarked on the new year facing the cross-currents of solid labor market data, a rising dollar and tumbling Tesla shares.

    All three major U.S. stocks ended the session in negative territory, a reversal of an earlier rally but off session lows.

    “We had some macro news but somewhat mixed and you know we have a very strong dollar today,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. “There are a few hurdles over the next couple of weeks and those are next Friday’s employment data and the beginning of fourth quarter earnings.”

    “In the short term, we’re looking at choppiness and a struggle for direction until we get those hurdles out of the way,” Cardillo added.

    Shares of Tesla (TSLA.O), opens new tab sank 6.1% after reporting its first annual drop in deliveries, as incentives failed to stem a decline in demand for its aging line-up of electric vehicles.

    A report from the Labor Department showed initial and continuing claims for unemployment benefits both fell last week, supporting the narrative of a solid jobs market and adding weight to the possibility that the U.S. central bank could let its key interest rate stand at this month’s policy meeting.

    Looking past uncertainties regarding the pace of interest rate cuts from the Federal Reserve, policies to be enacted by the incoming Donald Trump administration and various hot spots of geopolitical unrest, market participants chose to focus on the strength of the United States economy.

    Wall Street’s main indexes notched double-digit gains in 2024, with the benchmark S&P 500 recording its best two-year run since 1997-1998. Those gains were driven by the U.S. Federal Reserve’s first rate cuts in three-and-a-half years, the ongoing artificial intelligence boom and expectations of pro-business policies from the incoming Trump administration.

  • SoFi Stock Declines Amid Downgrade Over Valuation Concerns

    SoFi Technologies Inc. (SOFI) shares fell sharply on Thursday, dropping 5.9% to $14.50, as analysts at Keefe, Bruyette & Woods downgraded the stock, citing overvaluation concerns and challenges in meeting financial targets. This marks SoFi’s longest losing streak since a four-day slump in September, according to Dow Jones Market Data.

    Analyst Timothy Switzer lowered his rating on SoFi from “Market Perform” to “Underperform,” while raising the price target from $7 to $8. Despite the upward revision, Switzer argued that SoFi’s valuation remains excessively high. Shares have surged 57% in 2024 and more than doubled since September, driven by investor optimism around high-growth fintech companies following the recent election. However, Switzer highlighted that the valuation is stretched “across a wide matrix of multiples.”

    Challenges in Achieving Long-Term Financial Targets
    SoFi has set ong-term goals for its financial performance but achieving them may prove difficult. including earnings per share (EPS) of $0.55 to $0.80 by 2026. However, Switzer cautioned that achieving these goals will require a significant boost in revenue coupled with strong operational efficiency, a path he described as “long and difficult.”

    The company’s leadership has set an ambitious long-term goal of achieving a return on average tangible common equity (ROATCE) in the range of 20% to 30%. Switzer pointed out that only a few chartered banks are able to consistently achieve returns in the 20% range, making this goal particularly challenging. He further projected that SoFi is unlikely to exceed a 20% return on equity before 2028, if at all. Even under optimistic scenarios, Keefe, Bruyette & Woods estimates a 46% downside risk for shareholders, suggesting the stock could lose nearly half its value in unfavorable market conditions.

    Expanding Beyond Student Loans

    Founded in 2011 as a student loan refinancing platform, SoFi has since diversified into home loans, personal loans, credit cards, and financial services. The company operates through three key segments: lending, financial services, and its technology platform.

    Despite its broader offerings, some analysts argue that SoFi’s valuation is too high relative to peers. While the stock gained 57% in 2024, outperforming competitors such as PayPal (+39%), Affirm Holdings (+27%), and Block (+13%), concerns about overvaluation persist.

    In December, BofA Securities similarly downgraded SoFi to “Underperform” from “Neutral,” maintaining a $12 price target, citing similar challenges around valuation and growth sustainability.

  • VA Tech Wabag Wins ₹145 Cr Order from Chennai Petroleum; Rekha Jhunjhunwala-Backed Multibagger Shines

    VA Tech Wabag Limited (WABAG), a leading Indian multinational specializing in water technology, has won a ₹145 crore order from Chennai Petroleum Corporation Limited (CPCL). The project involves the design, engineering, supply, fabrication, installation, and commissioning of desalination water pipelines between CPCL’s Manali Refinery and its desalination plant at Kattupalli. The work is set to be completed within 12 months.

    WABAG’s technically advanced and competitive bid played a significant role in securing this project, reaffirming its leadership in the industrial water segment.

    Management’s Remarks

    Expressing satisfaction over the order win, Mr. S. Natrajan, Head of Sales & Marketing for WABAG’s India Cluster, stated:

    “CPCL has been a key customer of WABAG, and we are delighted to deliver this project. We thank CPCL for their continued trust and confidence in WABAG.”

    About VA Tech Wabag

    VA Tech Wabag Limited is a global leader in water technology with over a century of expertise. The company provides innovative and sustainable water solutions for both municipal and industrial clients across the globe. As a pure-play Indian multinational, WABAG offers end-to-end services, including design, engineering, and long-term operations. With a focus on research and development, WABAG is committed to creating solutions that address global water challenges while promoting sustainability.

    Stock Performance and Market Insights

    • Shares of VA Tech Wabag rose 1.90% today, closing at ₹1,674.35 per share, with an intraday high of ₹1,690 and a low of ₹1,642.20.
    • The stock’s 52-week high is ₹1,943.95, and its 52-week low is ₹595.90.
    • Renowned investor Rekha Jhunjhunwala holds an 8.04% stake in the company.

    Financial Highlights

    • Market Cap: Over ₹10,000 crore.
    • Order Book: ₹14,600 crore.
    • Price-to-Earnings Ratio (PE): 14x, significantly lower than the industry average of 37x.
    • The stock has delivered 165% returns in the past year, outperforming the BSE Small-Cap Index’s 30% gain during the same period.

    Investment Perspective

    With a strong order book, leadership in industrial water projects, and a history of delivering multibagger returns, VA Tech Wabag is a stock worth monitoring.

    Disclaimer: This article is for informational purposes only and does not constitute investment advice. Always consult a financial advisor before making investment decisions.

  • Bajaj Finance and Bajaj Finserv Shares Surge Up : Here’s Why

    Shares of Bajaj Finance Ltd and Bajaj Finserv Ltd rose sharply by up to 9% in early trading today, emerging as top gainers on both the Sensex and Nifty indices. The surge came after global brokerage firm Citi reiterated a bullish outlook on Bajaj Finance, maintaining a “Buy” rating with a target price of ₹8,150. Citi also placed the stock on a ‘90-day catalyst watch,’ anticipating strong Q3 results for the company.

    Bajaj Finance Performance

    The stock of Bajaj Finance gained 6% intraday, reaching ₹7,749.95, compared to its previous close of ₹6,936.65 on the BSE.

    Key performance indicators for Bajaj Finance include:

    • Relative Strength Index (RSI): At 52.5, indicating the stock is neither oversold nor overbought. (An RSI below 30 signals oversold, while above 70 signals overbought.)
    • Beta: At 1.1, reflecting higher-than-average volatility over the past year.
    • Moving Averages: Bajaj Finance shares are trading above the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, and 200-day moving averages, signaling positive momentum.

    The stock has lost 1.32% over the past year but has gained 5.72% since the beginning of 2025. A total of 0.96 lakh shares changed hands today, amounting to a turnover of ₹69.86 crore, while the company’s market capitalization increased to ₹4.53 lakh crore on the BSE.

    Bajaj Finserv Performance

    Similarly, Bajaj Finserv shares jumped 8.92% intraday, hitting ₹1,717.45 on the BSE.

    Key performance indicators for Bajaj Finserv include:

    • Relative Strength Index (RSI): At 38.6, signaling the stock is neither oversold nor overbought.
    • Beta: At 1, indicating average volatility over the past year.
    • Moving Averages: The stock is trading above the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, and 200-day moving averages, demonstrating strong momentum.

    A total of 1.76 lakh shares were traded, amounting to a turnover of ₹29.41 crore, and the firm’s market capitalization rose to ₹2.73 lakh crore.

    Citi’s Observations and Forecasts

    Citi highlighted key factors driving the rally:

    • Asset Under Management (AUM) Growth: Expected to rise 6% quarter-on-quarter (QoQ) and 7% year-on-year (YoY) in Q3, driven by robust performance across segments such as mortgages, sales financing, securities lending, and new business ventures.
    • Credit Costs: Marginally higher, forecasted at 2.2–2.5%, but still manageable.
    • Supportive Segments: Mortgage financing, sales financing, and new business initiatives remain key growth drivers.

    Market Outlook

    Citi’s optimism on Bajaj Finance and Bajaj Finserv reflects confidence in their ability to deliver strong Q3 results, driven by diverse growth segments and operational efficiency. Both stocks are currently riding positive market sentiment, bolstered by their favorable technical indicators and anticipated financial performance.

    Investors should closely monitor upcoming results and market movements to assess the sustainability of this rally.