• A group of lawmakers within the ruling Liberal Party in Canada are building pressure on Prime Minister Justin Trudeau to step down, news agency Bloomberg reported on Sunday.


    According to a CBC News report citing sources, at least 20 dissatisfied MPs met in Ottawa this week. They signed a document calling for a change in leadership.

    The move followed a recent by-election loss for the Liberal Party in Montreal and Toronto, prompting a series of secretive meetings among dissatisfied MPs, against Trudeau, who has led Canada since 2015.


    According to CBC News, at least 20 leaders have signed the document in Ottawa calling for a change in leadership.

    Earlier Toronto Star, citing unidentified people, reported about an effort to publicly pressure on Prime Minister Trudeau to step down. The report further said at least 30 to 40 MPs are ready to sign a letter demanding a change in leadership. The number of dissenting MPs, however, may fall short of a critical mass.

    It is important to note that the Liberal Party holds 153 seats in the House of Commons in Canada.

    The prime minister’s office didn’t immediately respond to a request for comment.


    Unlike the traditional letter demanding Trudeau’s resignation, the dissenting leaders are asking the dissatisfied MPs to sign a document as a pledge to secure a commitment from MPs to push for Trudeau’s resignation.

    Meanwhile, Canadian Press has reported trade minister Mary Ng, who’s traveling back to Canada from Laos with Trudeau, as saying that she was disappointed to read about the MPs’ plan. She added that she has full confidence in Prime Minister Trudeau.

    In September, the Canadian prime minister suffered a setback when a parliamentary pact with another party, which had kept Trudeau in power, fell apart. Later in the month, he survived an attempt from the opposition Conservative Party to force an election.


    Earlier on Friday, the Canadian Prime Minister said he had met Prime Minister Narendra Modi on the sidelines of a summit in Laos and spoke to him about the “work that we need to do”.

    Ties between the two nations were strained after Trudeau had alleged India’s involvement in the killing of Khalistani terrorist Hardeep Singh Nijjar in Canada’s Surrey city last year.

    MORE INFORMATION : https://24onlive.in/latest-world-news-new-trouble-for-justin-trudeau-amid-mounting-discontent-20-liberal-mp-sign-pact-to-topple-canadian-pm/
    A group of lawmakers within the ruling Liberal Party in Canada are building pressure on Prime Minister Justin Trudeau to step down, news agency Bloomberg reported on Sunday. According to a CBC News report citing sources, at least 20 dissatisfied MPs met in Ottawa this week. They signed a document calling for a change in leadership. The move followed a recent by-election loss for the Liberal Party in Montreal and Toronto, prompting a series of secretive meetings among dissatisfied MPs, against Trudeau, who has led Canada since 2015. According to CBC News, at least 20 leaders have signed the document in Ottawa calling for a change in leadership. Earlier Toronto Star, citing unidentified people, reported about an effort to publicly pressure on Prime Minister Trudeau to step down. The report further said at least 30 to 40 MPs are ready to sign a letter demanding a change in leadership. The number of dissenting MPs, however, may fall short of a critical mass. It is important to note that the Liberal Party holds 153 seats in the House of Commons in Canada. The prime minister’s office didn’t immediately respond to a request for comment. Unlike the traditional letter demanding Trudeau’s resignation, the dissenting leaders are asking the dissatisfied MPs to sign a document as a pledge to secure a commitment from MPs to push for Trudeau’s resignation. Meanwhile, Canadian Press has reported trade minister Mary Ng, who’s traveling back to Canada from Laos with Trudeau, as saying that she was disappointed to read about the MPs’ plan. She added that she has full confidence in Prime Minister Trudeau. In September, the Canadian prime minister suffered a setback when a parliamentary pact with another party, which had kept Trudeau in power, fell apart. Later in the month, he survived an attempt from the opposition Conservative Party to force an election. Earlier on Friday, the Canadian Prime Minister said he had met Prime Minister Narendra Modi on the sidelines of a summit in Laos and spoke to him about the “work that we need to do”. Ties between the two nations were strained after Trudeau had alleged India’s involvement in the killing of Khalistani terrorist Hardeep Singh Nijjar in Canada’s Surrey city last year. MORE INFORMATION : https://24onlive.in/latest-world-news-new-trouble-for-justin-trudeau-amid-mounting-discontent-20-liberal-mp-sign-pact-to-topple-canadian-pm/
    24ONLIVE.IN
    Latest World News: New trouble for Justin Trudeau: Amid mounting discontent, 20 Liberal MP ’sign pact’ to topple Canadian PM
    A group of lawmakers within the ruling Liberal Party in Canada are building pressure on Prime Minister Justin Trudeau to step down, news agency Bloomberg
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  • Israel on Saturday ordered evacuation of 23 southern Lebanese villages located north of the Awali River, which flows from the western Bekaa Valley into the Mediterranean.


    In a message addressed to south Lebanese, Israeli military spokesman Avichay Adraee wrote on X: “For your own protection, do not return to your homes until further notice… Do not go south; anyone who goes south may put his life at risk.”

    The Israeli military in its order has mentioned villages in southern Lebanon that have been recent targets of Israeli attacks.


    Evacuations were necessary for the safety of residents due to increased Hezbollah activities, the Israeli military said.

    It also claimed that the group is using sites to conceal weapons and launch attacks on Israel.

    However, Hezbollah has denied concealing its weapons among civilians.

    The conflict between Israel and Hezbollah, which erupted a year ago when the Iranian-backed group began launching rockets at northern Israel in support of Hamas at the start of the Gaza war, has dramatically escalated over the past month.


    According to the Lebanese government, due to intensified Israeli attacks in southern Lebanon, the Bekaa Valley and the southern suburbs of Beirut, approximately 1.2 million people were forced to leave their homes since September 23.

    More Lebanese have now been displaced than during the last major war between Israel and Hezbollah in 2006, when around 1 million fled their homes, the United Nations Office for the Coordination of Humanitarian Affairs said on Saturday.

    Hezbollah said on Saturday it launched a drone attack on a military base in north Israel’s Haifa a day earlier.

    In a statement the group said its fighters were “targeting the explosives factory there with a salvo of… missiles”.


    On Friday, Israel faced severe diplomatic backlash over what it said was a “hit” on a United Nations peacekeeping position in Lebanon.

    Two Sri Lankan peacekeepers were hurt in the second such incident in two days, the UNIFIL mission said on Friday.

    MORE INFORMATION : https://24onlive.in/latest-world-news-israel-orders-evacuation-of-23-southern-lebanese-villages-asks-residents-not-to-return-homes/
    Israel on Saturday ordered evacuation of 23 southern Lebanese villages located north of the Awali River, which flows from the western Bekaa Valley into the Mediterranean. In a message addressed to south Lebanese, Israeli military spokesman Avichay Adraee wrote on X: “For your own protection, do not return to your homes until further notice… Do not go south; anyone who goes south may put his life at risk.” The Israeli military in its order has mentioned villages in southern Lebanon that have been recent targets of Israeli attacks. Evacuations were necessary for the safety of residents due to increased Hezbollah activities, the Israeli military said. It also claimed that the group is using sites to conceal weapons and launch attacks on Israel. However, Hezbollah has denied concealing its weapons among civilians. The conflict between Israel and Hezbollah, which erupted a year ago when the Iranian-backed group began launching rockets at northern Israel in support of Hamas at the start of the Gaza war, has dramatically escalated over the past month. According to the Lebanese government, due to intensified Israeli attacks in southern Lebanon, the Bekaa Valley and the southern suburbs of Beirut, approximately 1.2 million people were forced to leave their homes since September 23. More Lebanese have now been displaced than during the last major war between Israel and Hezbollah in 2006, when around 1 million fled their homes, the United Nations Office for the Coordination of Humanitarian Affairs said on Saturday. Hezbollah said on Saturday it launched a drone attack on a military base in north Israel’s Haifa a day earlier. In a statement the group said its fighters were “targeting the explosives factory there with a salvo of… missiles”. On Friday, Israel faced severe diplomatic backlash over what it said was a “hit” on a United Nations peacekeeping position in Lebanon. Two Sri Lankan peacekeepers were hurt in the second such incident in two days, the UNIFIL mission said on Friday. MORE INFORMATION : https://24onlive.in/latest-world-news-israel-orders-evacuation-of-23-southern-lebanese-villages-asks-residents-not-to-return-homes/
    24ONLIVE.IN
    Latest World News: Israel orders evacuation of 23 southern Lebanese villages, asks residents not to return homes
    Israel on Saturday ordered evacuation of 23 southern Lebanese villages located north of the Awali River, which flows from the western Bekaa Valley into the
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  • Latest Market News: Hyundai Motor India IPO: GMP, price, review, other details. Apply or not as upcoming IPO opens next week?
    Hyundai Motor India IPO GMP today: According to stock market observers, shares of the company are available at a premium of ₹74 in the grey market today.
    Hyundai Motor India IPO: The Initial Public Offering (IPO) of Hyundai Motor India Limited is set to hit the Indian primary market next week. As per the Hyundai Motor India IPO date, the public issue will open on 15th October 2024 and will remain open until 17th October 2024. This means the most significant Indian public issue will remain available for bidding from Tuesday to Thursday next week. India’s second-largest OEM company has set Hyundai Motor India’s IPO price at ₹1865 to ₹1960 per equity share. The auto OEM company aims to raise ₹27,870.16 crore from this public offer, a 100% Offer for Sale (OFS). The book build issue is proposed for listing on the BSE and NSE. According to stock market observers, shares of the auto company are available at a premium of ₹74 in the grey market today.


    Hyundai Motor India IPO details
    1] Hyundai Motor India IPO GMP today: According to stock market observers, shares of the company are available at a premium of ₹74 in the grey market today.

    2] Hyundai Motor India IPO price: The auto OEM company has a fixed price band for the public issue, at ₹1865 to ₹1960 per equity share.


    3] Hyundai Motor India IPO date: The public issue will open on 15th October 2024 and will remain open until 17th October 2024.

    4] Hyundai Motor India IPO size: The auto OEM company aims to raise ₹27,870.16 crore from this public offer, which is a 100% Offer for Sale (OFS).

    5] Hyundai Motor India IPO lot size: A bidder can apply for the public issue in lots, and one lot of the public offer comprises 7 company shares.


    6] Hyundai Motor India IPO allotment date: The most likely date for share allocation is 18th October 2024, i.e., Friday next week.

    7] Hyundai Motor India IPO registrar: KFin Technologies has been appointed official registrar of the book build issue.

    8] Hyundai Motor India IPO lead managers: Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, HSBC Securities & Capital Markets Pvt Ltd, J.P. Morgan India Private Limited, and Morgan Stanley India Company Pvt Ltd have been appointed lead managers of the public offer.

    9] Hyundai Motor India IPO listing date: The book build issue is expected to be listed on 22nd October 2024, by the ‘T+3’ listing rule.

    Hyundai Motor India IPO: Apply or not?

    10] Hyundai Motor India IPO Review: On whether one should apply for the public issue or not, Prashanth Tapse, Senior VP — of Research at Mehta Equities, said, “Given the trend-shifting dynamics in the Indian auto industry, I believe Indians have shifted from sub- ₹5-7 lac segment to ₹10-12 lac segment wherein Hyundai, TATA Motor along with M&M are better placed and have grabbed the market growth better than Maruti. In the last one-year, Maruti has continuously faced the heat of rising competition and witnessed market share decline, which is benefiting Hyundai Motor India, the second largest automaker in the country.”

    Anand Rathi has given a ‘buy’ tag to the book build issue, saying, “At the upper band, the company is valuing at 26.2x its FY24 earnings along with being valued at 26.7x if we annualize FY25 earnings. Following the issuance of equity shares, the company’s market capitalization stands at ₹15,92,581 million, with a market cap-to-sales ratio of 2.28 based on its FY24 earnings. We believe the issue is fully priced and recommend a “Subscribe – Long Term” rating to the IPO.”


    Arihant Capital Markets, Bajaj Capital, and ICICI Direct have also assigned a ‘subscribe’ tag to this upcoming IPO.

    MORE INFORMATION : https://24onlive.in/latest-market-news-hyundai-motor-india-ipo-gmp-price-review-other-details-apply-or-not-as-upcoming-ipo-opens-next-week/
    Latest Market News: Hyundai Motor India IPO: GMP, price, review, other details. Apply or not as upcoming IPO opens next week? Hyundai Motor India IPO GMP today: According to stock market observers, shares of the company are available at a premium of ₹74 in the grey market today. Hyundai Motor India IPO: The Initial Public Offering (IPO) of Hyundai Motor India Limited is set to hit the Indian primary market next week. As per the Hyundai Motor India IPO date, the public issue will open on 15th October 2024 and will remain open until 17th October 2024. This means the most significant Indian public issue will remain available for bidding from Tuesday to Thursday next week. India’s second-largest OEM company has set Hyundai Motor India’s IPO price at ₹1865 to ₹1960 per equity share. The auto OEM company aims to raise ₹27,870.16 crore from this public offer, a 100% Offer for Sale (OFS). The book build issue is proposed for listing on the BSE and NSE. According to stock market observers, shares of the auto company are available at a premium of ₹74 in the grey market today. Hyundai Motor India IPO details 1] Hyundai Motor India IPO GMP today: According to stock market observers, shares of the company are available at a premium of ₹74 in the grey market today. 2] Hyundai Motor India IPO price: The auto OEM company has a fixed price band for the public issue, at ₹1865 to ₹1960 per equity share. 3] Hyundai Motor India IPO date: The public issue will open on 15th October 2024 and will remain open until 17th October 2024. 4] Hyundai Motor India IPO size: The auto OEM company aims to raise ₹27,870.16 crore from this public offer, which is a 100% Offer for Sale (OFS). 5] Hyundai Motor India IPO lot size: A bidder can apply for the public issue in lots, and one lot of the public offer comprises 7 company shares. 6] Hyundai Motor India IPO allotment date: The most likely date for share allocation is 18th October 2024, i.e., Friday next week. 7] Hyundai Motor India IPO registrar: KFin Technologies has been appointed official registrar of the book build issue. 8] Hyundai Motor India IPO lead managers: Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, HSBC Securities & Capital Markets Pvt Ltd, J.P. Morgan India Private Limited, and Morgan Stanley India Company Pvt Ltd have been appointed lead managers of the public offer. 9] Hyundai Motor India IPO listing date: The book build issue is expected to be listed on 22nd October 2024, by the ‘T+3’ listing rule. Hyundai Motor India IPO: Apply or not? 10] Hyundai Motor India IPO Review: On whether one should apply for the public issue or not, Prashanth Tapse, Senior VP — of Research at Mehta Equities, said, “Given the trend-shifting dynamics in the Indian auto industry, I believe Indians have shifted from sub- ₹5-7 lac segment to ₹10-12 lac segment wherein Hyundai, TATA Motor along with M&M are better placed and have grabbed the market growth better than Maruti. In the last one-year, Maruti has continuously faced the heat of rising competition and witnessed market share decline, which is benefiting Hyundai Motor India, the second largest automaker in the country.” Anand Rathi has given a ‘buy’ tag to the book build issue, saying, “At the upper band, the company is valuing at 26.2x its FY24 earnings along with being valued at 26.7x if we annualize FY25 earnings. Following the issuance of equity shares, the company’s market capitalization stands at ₹15,92,581 million, with a market cap-to-sales ratio of 2.28 based on its FY24 earnings. We believe the issue is fully priced and recommend a “Subscribe – Long Term” rating to the IPO.” Arihant Capital Markets, Bajaj Capital, and ICICI Direct have also assigned a ‘subscribe’ tag to this upcoming IPO. MORE INFORMATION : https://24onlive.in/latest-market-news-hyundai-motor-india-ipo-gmp-price-review-other-details-apply-or-not-as-upcoming-ipo-opens-next-week/
    24ONLIVE.IN
    Latest Market News: Hyundai Motor India IPO: GMP, price, review, other details. Apply or not as upcoming IPO opens next week?
    Hyundai Motor India IPO: The Initial Public Offering (IPO) of Hyundai Motor India Limited is set to hit the Indian primary market next week. As per the
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  • Jews in Israel have started observing the Yom Kippur fast – the Jewish Day of Atonement and the holiest day of the Jewish calendar – amid the airstrike being allegedly carried out by Lebanon. According to the Israeli Defence Forces (IDF), two UAVs were identified crossing from Lebanon into central Israel. A hit on a civilian building was identified and one UAV was intercepted.


    In a post on X, IDF stated, “Since the beginning of the Yom Kippur fast, multiple rocket launches have been identified from Lebanon. A short while ago, two UAVs were identified crossing from Lebanon into central Israel. The UAVs were monitored from the moment they crossed the Lebanese border. A hit on a civilian building was identified and one UAV was intercepted.”

    Meanwhile, Hezbollah has warned the Israelis to stay away from Army sites in the residential areas in the north. As the war between Israel and Hamas‘ ally Hezbollah Lebanon intensifies, here’s a list of 10 things that have happened in the past 24 hours:


    Israel shut down late on Friday afternoon for Yom Kippur amid the alleged Lebanon airstrikes. This is the first time since 1973 that Israel is engaged in an active war on the Holy Day.
    Over 120 rockets were fired at Israel in the first hours of the holiday, sending the Israeli Army in huddle.
    While most rockets were intercepted, several rockets fell in open areas and caused fire. There were no reports of injuries or deaths.
    Special alert systems were placed to warn the people amid near-constant rocket fire and ongoing tensions with Iran.

    Currently, Israeli troops are fighting in the Gaza Strip and southern Lebanon.
    Lebanese militant group Hezbollah issued a warning to Israelis, advising them to avoid Israeli military sites located in residential areas in the northern region of the country.
    Meanwhile, the United Nations peacekeeping force in southern Lebanon said new explosions hit its headquarters, injuring two peacekeepers a day after Israeli forces targeted the same position and struck central Beirut.

    After scattered strikes, Israel has escalated its campaign against Hezbollah with heavy airstrikes across Lebanon and a ground invasion at the border.
    Israel is now at war with Hamas in Gaza and Hamas’ ally Hezbollah in Lebanon.
    Israel’s offensive in Gaza has killed over 42,000 Palestinians, displacing 90 per cent of the population.

    MORE INFORMATION : https://24onlive.in/latest-world-news-israel-observes-yom-kippur-amid-lebanon-strikes-hezbollah-issues-warning-to-jews-10-points/
    Jews in Israel have started observing the Yom Kippur fast – the Jewish Day of Atonement and the holiest day of the Jewish calendar – amid the airstrike being allegedly carried out by Lebanon. According to the Israeli Defence Forces (IDF), two UAVs were identified crossing from Lebanon into central Israel. A hit on a civilian building was identified and one UAV was intercepted. In a post on X, IDF stated, “Since the beginning of the Yom Kippur fast, multiple rocket launches have been identified from Lebanon. A short while ago, two UAVs were identified crossing from Lebanon into central Israel. The UAVs were monitored from the moment they crossed the Lebanese border. A hit on a civilian building was identified and one UAV was intercepted.” Meanwhile, Hezbollah has warned the Israelis to stay away from Army sites in the residential areas in the north. As the war between Israel and Hamas‘ ally Hezbollah Lebanon intensifies, here’s a list of 10 things that have happened in the past 24 hours: Israel shut down late on Friday afternoon for Yom Kippur amid the alleged Lebanon airstrikes. This is the first time since 1973 that Israel is engaged in an active war on the Holy Day. Over 120 rockets were fired at Israel in the first hours of the holiday, sending the Israeli Army in huddle. While most rockets were intercepted, several rockets fell in open areas and caused fire. There were no reports of injuries or deaths. Special alert systems were placed to warn the people amid near-constant rocket fire and ongoing tensions with Iran. Currently, Israeli troops are fighting in the Gaza Strip and southern Lebanon. Lebanese militant group Hezbollah issued a warning to Israelis, advising them to avoid Israeli military sites located in residential areas in the northern region of the country. Meanwhile, the United Nations peacekeeping force in southern Lebanon said new explosions hit its headquarters, injuring two peacekeepers a day after Israeli forces targeted the same position and struck central Beirut. After scattered strikes, Israel has escalated its campaign against Hezbollah with heavy airstrikes across Lebanon and a ground invasion at the border. Israel is now at war with Hamas in Gaza and Hamas’ ally Hezbollah in Lebanon. Israel’s offensive in Gaza has killed over 42,000 Palestinians, displacing 90 per cent of the population. MORE INFORMATION : https://24onlive.in/latest-world-news-israel-observes-yom-kippur-amid-lebanon-strikes-hezbollah-issues-warning-to-jews-10-points/
    24ONLIVE.IN
    Latest World News: Israel observes Yom Kippur amid Lebanon strikes, Hezbollah issues warning to Jews: 10 points
    Jews in Israel have started observing the Yom Kippur fast – the Jewish Day of Atonement and the holiest day of the Jewish calendar – amid the airstrike being
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  • Pakistan news: Armed men killed at least 20 miners and injured another seven people in an attack on Junaid Coal company, a private mine located in the southwestern Pakistani province of Balochistan, on Friday, police said, according to media reports.


    The latest attack in the restive Balochistan province came days ahead of a major security summit, Shanghai Cooperation Organisation (SCO), being hosted from October 15-16 in the capital, Islamabad.

    The district hospital has received 20 dead bodies and six injured patients, a doctor told Reuters.


    Up to 40 attackers fired at the miners for half an hour starting around 12:30 am (local time) “before escaping into the night,” said Asim Shafi, the head of police in the Duki district where the attack took place, reported AFP.

    Humayun Khan, the police station house officer for the town, said, “A group of armed men attacked the Junaid Coal company mines in the Duki area in the wee hours using heavy weapons,” reported Reuters. He said the attackers also fired rockets and lobbed grenades at the coal mine and damaged the machinery used for the mining before fleeing, reported AP.


    According to authorities, most of the men attacked were from Pashtun-speaking areas of Balochistan. Three of the dead and four of the wounded were Afghan. Angered over the attack, local shop owners pulled their shutters down to observe a daylong strike against the killing, reported AP.

    No group has claimed immediate responsibility for the attack, but the suspicion is likely to fall on the outlawed Baloch Liberation Army, which often targets civilians and security forces.


    Authorities say police and paramilitary forces are searching for the attackers.

    Meanwhile, Prime Minister Shehbaz Sharif expressed his deep sorrow over the killings and vowed to eliminate terrorism.


    Sarfraz Bugti, the chief minister in Balochistan, said, “Terrorists have once again targeted poor labourers.” He added the attackers were cruel and had an agenda to destabilise Pakistan. “The killing of these innocent labourers would be avenged,” he said in a statement.

    MORE INFORMATION : https://24onlive.in/latest-world-news-pakistan-news-at-least-20-miners-killed-7-injured-in-armed-attack-on-coal-mine-in-balochistan/
    Pakistan news: Armed men killed at least 20 miners and injured another seven people in an attack on Junaid Coal company, a private mine located in the southwestern Pakistani province of Balochistan, on Friday, police said, according to media reports. The latest attack in the restive Balochistan province came days ahead of a major security summit, Shanghai Cooperation Organisation (SCO), being hosted from October 15-16 in the capital, Islamabad. The district hospital has received 20 dead bodies and six injured patients, a doctor told Reuters. Up to 40 attackers fired at the miners for half an hour starting around 12:30 am (local time) “before escaping into the night,” said Asim Shafi, the head of police in the Duki district where the attack took place, reported AFP. Humayun Khan, the police station house officer for the town, said, “A group of armed men attacked the Junaid Coal company mines in the Duki area in the wee hours using heavy weapons,” reported Reuters. He said the attackers also fired rockets and lobbed grenades at the coal mine and damaged the machinery used for the mining before fleeing, reported AP. According to authorities, most of the men attacked were from Pashtun-speaking areas of Balochistan. Three of the dead and four of the wounded were Afghan. Angered over the attack, local shop owners pulled their shutters down to observe a daylong strike against the killing, reported AP. No group has claimed immediate responsibility for the attack, but the suspicion is likely to fall on the outlawed Baloch Liberation Army, which often targets civilians and security forces. Authorities say police and paramilitary forces are searching for the attackers. Meanwhile, Prime Minister Shehbaz Sharif expressed his deep sorrow over the killings and vowed to eliminate terrorism. Sarfraz Bugti, the chief minister in Balochistan, said, “Terrorists have once again targeted poor labourers.” He added the attackers were cruel and had an agenda to destabilise Pakistan. “The killing of these innocent labourers would be avenged,” he said in a statement. MORE INFORMATION : https://24onlive.in/latest-world-news-pakistan-news-at-least-20-miners-killed-7-injured-in-armed-attack-on-coal-mine-in-balochistan/
    24ONLIVE.IN
    Latest World News: Pakistan news: At least 20 miners killed, 7 injured in armed attack on coal mine in Balochistan
    Pakistan news: Armed men killed at least 20 miners and injured another seven people in an attack on Junaid Coal company, a private mine located in the
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  • Shiv Texchem IPO allotment date today: Shiv Texchem Limited IPO share allotment will be finalised today (Friday, October 11). The investors who applied for Shiv Texchem IPO can check the Shiv Texchem IPO allotment status in the registrar’s portal, which is Link Intime India Private Ltd. Shiv Texchem IPO opened for subscription on Tuesday, October 8, and closed on Thursday, October 10. Shiv Texchem IPO subscription status was 156.55 times on the last day of bidding, as per data available on chittorgarh.com.


    Investors can check the allocation process to see if they have been assigned shares and, if so, how many. The IPO allotment status also shows the quantity of shares allocated. Applicants who did not receive any shares will have the company begin the refund process. The shares allocated to individuals will be deposited into their demat accounts.

    The initiation of the refund process will commence on Monday, October 14 for individuals not given shares. Those allotted will receive their shares in their demat accounts on the same day itself.


    Shiv Texchem IPO listing date is scheduled for Tuesday, October 15 on the BSE SME.

    If you have applied for the Shiv Texchem IPO , you can do a Shiv Texchem IPO allotment status check online on the website of the IPO registrar, Link Intime India Private Ltd today.

    Here’s Shiv Texchem IPO allotment link – https://linkintime.co.in/initial_offer/public-issues.html

    How to check Shiv Texchem IPO allotment status on registrar’s portal?
    Step 1

    Please click on the provided hyperlink to access the website of the registrar for the Shiv Texchem IPO, which is Link Intime India Private Ltd.

    Step 2
    Please select the IPO from the dropdown menu that will only display its name if the allocation process is finished.

    Step 3
    Select one of the three options to verify the status: Application Number, Demat Account, or PAN.

    Step 4
    Please select either ASBA or non-ASBA when choosing the application type.


    Step 5
    Please provide details for the mode you have selected.

    Step 6
    After completing the captcha, please click on the ‘submit’ button.

    How to check Shiv Texchem IPO allotment status on BSE?
    Step 1
    Visit the BSE official website’s allotment page- https://www.bseindia.com/investors/appli_check.aspx

    Step 2
    Choose ‘Equity’ under ‘Issue Type’.

    Step 3
    Select ‘Issue Name’ (the drop-down menu) and select the IPO.

    Step 4
    Put in your application number or PAN.

    Shiv Texchem IPO GMP today

    Shiv Texchem IPO GMP is +35. This indicates Shiv Texchem share price were trading at a premium of ₹35 in the grey market, according to investorgain.com.

    Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Shiv Texchem share price was indicated at ₹201 apiece, which is 21.08% higher than the IPO price of ₹166.

    According to the grey market activities in the last 8 sessions, IPO GMP is on the rise and is anticipated to have a robust listing. As per experts at investorgain.com, the GMP ranges from ₹0 to ₹40, with the lowest and highest values, respectively.

    ‘Grey market premium‘ indicates investors’ readiness to pay more than the issue price.

    Read all IPO news here

    Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of 24onlive. We advise investors to check with certified experts before making any investment decisions.

    MORE INFORMATION : https://24onlive.in/latest-market-news-shiv-texchem-ipo-allotment-in-focus-today-know-latest-gmp-step-by-step-guide-to-check-status/
    Shiv Texchem IPO allotment date today: Shiv Texchem Limited IPO share allotment will be finalised today (Friday, October 11). The investors who applied for Shiv Texchem IPO can check the Shiv Texchem IPO allotment status in the registrar’s portal, which is Link Intime India Private Ltd. Shiv Texchem IPO opened for subscription on Tuesday, October 8, and closed on Thursday, October 10. Shiv Texchem IPO subscription status was 156.55 times on the last day of bidding, as per data available on chittorgarh.com. Investors can check the allocation process to see if they have been assigned shares and, if so, how many. The IPO allotment status also shows the quantity of shares allocated. Applicants who did not receive any shares will have the company begin the refund process. The shares allocated to individuals will be deposited into their demat accounts. The initiation of the refund process will commence on Monday, October 14 for individuals not given shares. Those allotted will receive their shares in their demat accounts on the same day itself. Shiv Texchem IPO listing date is scheduled for Tuesday, October 15 on the BSE SME. If you have applied for the Shiv Texchem IPO , you can do a Shiv Texchem IPO allotment status check online on the website of the IPO registrar, Link Intime India Private Ltd today. Here’s Shiv Texchem IPO allotment link – https://linkintime.co.in/initial_offer/public-issues.html How to check Shiv Texchem IPO allotment status on registrar’s portal? Step 1 Please click on the provided hyperlink to access the website of the registrar for the Shiv Texchem IPO, which is Link Intime India Private Ltd. Step 2 Please select the IPO from the dropdown menu that will only display its name if the allocation process is finished. Step 3 Select one of the three options to verify the status: Application Number, Demat Account, or PAN. Step 4 Please select either ASBA or non-ASBA when choosing the application type. Step 5 Please provide details for the mode you have selected. Step 6 After completing the captcha, please click on the ‘submit’ button. How to check Shiv Texchem IPO allotment status on BSE? Step 1 Visit the BSE official website’s allotment page- https://www.bseindia.com/investors/appli_check.aspx Step 2 Choose ‘Equity’ under ‘Issue Type’. Step 3 Select ‘Issue Name’ (the drop-down menu) and select the IPO. Step 4 Put in your application number or PAN. Shiv Texchem IPO GMP today Shiv Texchem IPO GMP is +35. This indicates Shiv Texchem share price were trading at a premium of ₹35 in the grey market, according to investorgain.com. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Shiv Texchem share price was indicated at ₹201 apiece, which is 21.08% higher than the IPO price of ₹166. According to the grey market activities in the last 8 sessions, IPO GMP is on the rise and is anticipated to have a robust listing. As per experts at investorgain.com, the GMP ranges from ₹0 to ₹40, with the lowest and highest values, respectively. ‘Grey market premium‘ indicates investors’ readiness to pay more than the issue price. Read all IPO news here Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of 24onlive. We advise investors to check with certified experts before making any investment decisions. MORE INFORMATION : https://24onlive.in/latest-market-news-shiv-texchem-ipo-allotment-in-focus-today-know-latest-gmp-step-by-step-guide-to-check-status/
    Link Intime
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  • Hyundai Motor India IPO: India’s largest initial public offering (IPO) is set to open on Tuesday, October 15, as Hyundai Motor is gearing up for its grand stock market debut beyond South Korea.


    Hyundai Motor India plans to raise around $3.3 billion, or over ₹27,000 crore, through an offer for sale. The price band for the Hyundai Motor India IPO is set at ₹1,865 to ₹1,960 per share. The issue will remain open for subscription until Thursday, October 17.

    As Mint reported earlier, Hyundai Motor India aims to reclaim market share from domestic rivals by expanding its SUV lineup. It also plans to launch its first India-made electric vehicle (EV) early next year and introduce at least two gasoline-powered models starting in 2026.

    Hyundai Motor India IPO details
    Hyundai Motor India IPO opens for subscription on Tuesday, October 15 and closes on October 17, 2024. The allotment of shares is expected to be finalised on Friday, October 18.

    Successful bidders may expect shares to be credited into their demat accounts on Monday, October 21, while those who fail to get the allotment may get the refund on the same day. Shares of Hyundai Motor India may be listed on the BSE and the NSE on Tuesday, October 22.


    Industry experts indicate that the world’s third-largest auto original equipment manufacturer (OEM) aims to raise approximately $3.3 billion (over ₹27,000 crore) through this offering.

    The IPO will not be a fresh issue of shares but rather an offer for sale (OFS) of 14.22 crore shares (14,21,94,700 shares), representing a 17.5 per cent stake held by the company’s South Korean parent, Hyundai Motor.

    Since the issue is entirely an OFS, Hyundai Motor India will not receive any proceeds, and the amount raised will go to the parent company’s kitty.


    Should you bet?
    Brokerage firm ICICI Direct has a ‘subscribe’ rating on the issue, given steady growth prospects amid industry tailwinds, robust financials and a healthy SUV product slate.

    “We expect limited listing gains to this IPO; however, expect the company to deliver healthy double-digit portfolio returns over the medium to long term,” said ICICI Direct.

    Hyundai Motor India is the second-largest passenger vehicle player in the domestic market and one of India’s leading exporters in the segment. Its parent, Hyundai Motor Group, is the third-largest auto OEM (original equipment manufacturer) in the world based on passenger vehicle sales in CY2023.


    However, intense competition, slowdown in the passenger vehicle industry and volatile commodity prices are the key challenges that the company is dealing with.

    Experts point out that the IPO is hitting the market when the domestic automobile industry faces several headwinds, including a slowdown in demand and piling up inventory.

    Brokerage firm Sharekhan by BNP Paribas underscored that the domestic PV industry is an oligopolistic market, with few players dominating it.

    Maruti Suzuki (MSIL) leads the PV industry in terms of domestic sales volumes, and Hyundai Motor India is number two.

    “Despite contributing only about 6.5 per cent of Hyundai’s global revenues and nearly 8 per cent of its profitability, Hyundai’s India is asking for a premium valuation even when compared to its parent entity, which is trading at 5-6 times PE ratio and valued nearly 42 per cent of the South Korean parent’s market capitalisation on the listing. Hyundai stands to be expensive in terms of price-to-book value. It justifies its premium ask considering its leadership in SUV sales and world-class brand image, followed by better safety ratings,” Tapse observed.
    Tapse highlighted that automobile giants have slashed future growth guidance. Few have downgraded their outlook on weak China demand. Similar headwinds exist in India, with high inventory pushing leading players to offer huge discounts to clear the inventory in this festival season.

    The Indian auto industry is witnessing a shift in trend, and industry experts observe Indians are increasingly tilting towards the ₹10-12 lakh segment from the sub- ₹5-7 lakh segment.

    MORE INFORMATION : https://24onlive.in/latest-market-news-hyundai-motor-india-ipo-latest-gmp-issue-details-should-you-bet-experts-weigh-in/
    Hyundai Motor India IPO: India’s largest initial public offering (IPO) is set to open on Tuesday, October 15, as Hyundai Motor is gearing up for its grand stock market debut beyond South Korea. Hyundai Motor India plans to raise around $3.3 billion, or over ₹27,000 crore, through an offer for sale. The price band for the Hyundai Motor India IPO is set at ₹1,865 to ₹1,960 per share. The issue will remain open for subscription until Thursday, October 17. As Mint reported earlier, Hyundai Motor India aims to reclaim market share from domestic rivals by expanding its SUV lineup. It also plans to launch its first India-made electric vehicle (EV) early next year and introduce at least two gasoline-powered models starting in 2026. Hyundai Motor India IPO details Hyundai Motor India IPO opens for subscription on Tuesday, October 15 and closes on October 17, 2024. The allotment of shares is expected to be finalised on Friday, October 18. Successful bidders may expect shares to be credited into their demat accounts on Monday, October 21, while those who fail to get the allotment may get the refund on the same day. Shares of Hyundai Motor India may be listed on the BSE and the NSE on Tuesday, October 22. Industry experts indicate that the world’s third-largest auto original equipment manufacturer (OEM) aims to raise approximately $3.3 billion (over ₹27,000 crore) through this offering. The IPO will not be a fresh issue of shares but rather an offer for sale (OFS) of 14.22 crore shares (14,21,94,700 shares), representing a 17.5 per cent stake held by the company’s South Korean parent, Hyundai Motor. Since the issue is entirely an OFS, Hyundai Motor India will not receive any proceeds, and the amount raised will go to the parent company’s kitty. Should you bet? Brokerage firm ICICI Direct has a ‘subscribe’ rating on the issue, given steady growth prospects amid industry tailwinds, robust financials and a healthy SUV product slate. “We expect limited listing gains to this IPO; however, expect the company to deliver healthy double-digit portfolio returns over the medium to long term,” said ICICI Direct. Hyundai Motor India is the second-largest passenger vehicle player in the domestic market and one of India’s leading exporters in the segment. Its parent, Hyundai Motor Group, is the third-largest auto OEM (original equipment manufacturer) in the world based on passenger vehicle sales in CY2023. However, intense competition, slowdown in the passenger vehicle industry and volatile commodity prices are the key challenges that the company is dealing with. Experts point out that the IPO is hitting the market when the domestic automobile industry faces several headwinds, including a slowdown in demand and piling up inventory. Brokerage firm Sharekhan by BNP Paribas underscored that the domestic PV industry is an oligopolistic market, with few players dominating it. Maruti Suzuki (MSIL) leads the PV industry in terms of domestic sales volumes, and Hyundai Motor India is number two. “Despite contributing only about 6.5 per cent of Hyundai’s global revenues and nearly 8 per cent of its profitability, Hyundai’s India is asking for a premium valuation even when compared to its parent entity, which is trading at 5-6 times PE ratio and valued nearly 42 per cent of the South Korean parent’s market capitalisation on the listing. Hyundai stands to be expensive in terms of price-to-book value. It justifies its premium ask considering its leadership in SUV sales and world-class brand image, followed by better safety ratings,” Tapse observed. Tapse highlighted that automobile giants have slashed future growth guidance. Few have downgraded their outlook on weak China demand. Similar headwinds exist in India, with high inventory pushing leading players to offer huge discounts to clear the inventory in this festival season. The Indian auto industry is witnessing a shift in trend, and industry experts observe Indians are increasingly tilting towards the ₹10-12 lakh segment from the sub- ₹5-7 lakh segment. MORE INFORMATION : https://24onlive.in/latest-market-news-hyundai-motor-india-ipo-latest-gmp-issue-details-should-you-bet-experts-weigh-in/
    24ONLIVE.IN
    Latest Market News: Hyundai Motor India IPO: Latest GMP, issue details; should you bet? Experts weigh in
    Hyundai Motor India IPO: India's largest initial public offering (IPO) is set to open on Tuesday, October 15, as Hyundai Motor is gearing up for its grand
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  • Ahead of Dussehra, a vintage car show was organised in front of Vidhana Soudha in Bengaluru on Friday as part of Tumkuru Dasara Utsav 2024.


    Tumkuru Dasara Utsav is a significant festival celebrated in Tumkur, Karnataka, marking the traditional Dasara festivities.


    TB Jayachandra, Karnataka’s Special Representative in Delhi, says, “ This year, the district administration at Tumkur decided to celebrate Dussehra in a different way…today, a vintage car show has been organised…it is very difficult to see all the cars on one platform at a time.”


    This event honours the victory of good over evil, symbolized by the goddess Durga’s triumph over the demon Mahishasura. Dussehra, also known as Vijayadashami, celebrates Lord Rama’s victory over the demon king Ravana and Goddess Durga’s triumph over the buffalo demon Mahishasura. This festival precedes the auspicious Festival of Lights, Diwali.

    According to mythology, Ravana abducted Sita, Lord Rama’s wife, during their 14-year exile. With the help of Lakshmana, Hanuman, and the Vanar Sena, Rama fought a fierce battle to rescue her. On the tenth day, he defeated Ravana, symbolizing the victory of good over evil. In many parts of India, effigies of Ravana, Kumbhakaran, and Meghnath are burned to commemorate the celebrations.


    The festival features various cultural activities, including processions, traditional music, dance performances, and local art and crafts exhibitions.

    Celebrated with great enthusiasm, Tumkuru Dasara Utsav showcases the region’s rich heritage, fosters community spirit, and attracts visitors from nearby areas.

    According to a report by Hindustan Times Karnataka, the Tumkur Dasara Utsav 2024 is scheduled for October 11 and 12, 2024, at the Government of Karnataka’s Tumkur district. The festival will feature a variety of events, including: a vintage car show, drone show, helicopter show, and a space exhibition by ISRO, along with cultural programs featuring renowned actors and singers.

    Additionally, the festival will include themed events such as Saanskritika Dasara, Yuva Dasara, Raitha Dasara, Mahila Dasara, and Children’s Dasara, ensuring a diverse and engaging experience for all attendees.

    The festivities often include rituals, worship, and vibrant decorations, creating a festive atmosphere throughout the town.

    Dasara wishes

    Wishing you a joyous Dasara! May the victory of good over evil inspire you to overcome all challenges in life.

    Happy Dasara! May this festival bring you strength, happiness, and prosperity.

    On this auspicious occasion of Dasara, may your life be filled with joy and your path illuminated with success.


    May the blessings of Goddess Durga be with you today and always. Happy Dasara!

    This Dasara, let’s celebrate the triumph of good over evil and the spirit of togetherness. Enjoy the festivities!

    Wishing you a vibrant and joyous Dasara filled with love, laughter, and new beginnings.

    MORE INFORMATION : https://24onlive.in/latest-news-dasara-utsav-2024-heres-how-bengaluru-is-celebrating-tumkuru-dasara-utsav-watch/
    Ahead of Dussehra, a vintage car show was organised in front of Vidhana Soudha in Bengaluru on Friday as part of Tumkuru Dasara Utsav 2024. Tumkuru Dasara Utsav is a significant festival celebrated in Tumkur, Karnataka, marking the traditional Dasara festivities. TB Jayachandra, Karnataka’s Special Representative in Delhi, says, “ This year, the district administration at Tumkur decided to celebrate Dussehra in a different way…today, a vintage car show has been organised…it is very difficult to see all the cars on one platform at a time.” This event honours the victory of good over evil, symbolized by the goddess Durga’s triumph over the demon Mahishasura. Dussehra, also known as Vijayadashami, celebrates Lord Rama’s victory over the demon king Ravana and Goddess Durga’s triumph over the buffalo demon Mahishasura. This festival precedes the auspicious Festival of Lights, Diwali. According to mythology, Ravana abducted Sita, Lord Rama’s wife, during their 14-year exile. With the help of Lakshmana, Hanuman, and the Vanar Sena, Rama fought a fierce battle to rescue her. On the tenth day, he defeated Ravana, symbolizing the victory of good over evil. In many parts of India, effigies of Ravana, Kumbhakaran, and Meghnath are burned to commemorate the celebrations. The festival features various cultural activities, including processions, traditional music, dance performances, and local art and crafts exhibitions. Celebrated with great enthusiasm, Tumkuru Dasara Utsav showcases the region’s rich heritage, fosters community spirit, and attracts visitors from nearby areas. According to a report by Hindustan Times Karnataka, the Tumkur Dasara Utsav 2024 is scheduled for October 11 and 12, 2024, at the Government of Karnataka’s Tumkur district. The festival will feature a variety of events, including: a vintage car show, drone show, helicopter show, and a space exhibition by ISRO, along with cultural programs featuring renowned actors and singers. Additionally, the festival will include themed events such as Saanskritika Dasara, Yuva Dasara, Raitha Dasara, Mahila Dasara, and Children’s Dasara, ensuring a diverse and engaging experience for all attendees. The festivities often include rituals, worship, and vibrant decorations, creating a festive atmosphere throughout the town. Dasara wishes Wishing you a joyous Dasara! May the victory of good over evil inspire you to overcome all challenges in life. Happy Dasara! May this festival bring you strength, happiness, and prosperity. On this auspicious occasion of Dasara, may your life be filled with joy and your path illuminated with success. May the blessings of Goddess Durga be with you today and always. Happy Dasara! This Dasara, let’s celebrate the triumph of good over evil and the spirit of togetherness. Enjoy the festivities! Wishing you a vibrant and joyous Dasara filled with love, laughter, and new beginnings. MORE INFORMATION : https://24onlive.in/latest-news-dasara-utsav-2024-heres-how-bengaluru-is-celebrating-tumkuru-dasara-utsav-watch/
    24ONLIVE.IN
    Latest News: Dasara Utsav 2024: Here’s how Bengaluru is celebrating Tumkuru Dasara Utsav | Watch
    Ahead of Dussehra, a vintage car show was organised in front of Vidhana Soudha in Bengaluru on Friday as part of Tumkuru Dasara Utsav 2024.
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  • Garuda Construction IPO: The initial public offering (IPO) of Garuda Construction and Engineering Limited hit the Indian primary market on 8th October 2024 and will remain open until 10th October 2024. This means investors have just one day to apply for the Garuda Construction and Engineering Limited IPO. As per the Garuda Construction and Engineering Limited IPO subscription status, the public issue has received a decent response from investors in all segments. Meanwhile, the grey market has been cautious about the Garuda Construction and Engineering Limited IPO. According to stock market observers, shares of the company are available at a premium of ₹5 in the grey market today.


    Garuda Construction and Engineering Limited IPO GMP
    As mentioned, Garuda Construction and Engineering Limited’s IPO GMP (Grey Market Premium) today is ₹5, ₹5 lower than Wednesday’s GMP of ₹10. Market observers said that Garuda Construction and Engineering Limited’s IPO GMP has fallen from ₹20 to ₹5 in just two days, recording a 75% fall in its grey market premium.


    Garuda Construction and Engineering Limited IPO subscription status
    By 2:54 PM on day three of bidding, the public issue had been booked 6.57 times, the retail portion 9.90 times, the NII segment 6.64 times, and the QIB portion 1.13 times.

    Garuda Construction and Engineering Limited IPO review
    Giving a ‘buy’ tag to the Garuda Construction and Engineering Limited IPO, Anshul Jain, Head of Research at Lakshishree Investment and Securities, said, “Garuda Construction and Engineering is set to launch its IPO with a price band between ₹92 and ₹95 per equity share, with a face value of ₹5 each. The company, which has seen impressive growth, reported revenues of ₹7,702.08 lakh in FY22, soaring to ₹15,417.83 lakh by FY24. This reflects a solid Compound Annual Growth Rate (CAGR) of 26.03%.”


    “The funds from the IPO will support the company’s operational needs and fuel general business expansion, including potential non-organic acquisitions. The latest Grey Market Premium (GMP) for the IPO stands at ₹5, pushing the estimated listing price to ₹100. This suggests the debut of the company shares. We maintain a “Subscribe” view on the Garuda Construction IPO for potential listing gains.”

    “With rising demand for infrastructure and strong government support, India could become the third-largest construction market in the world, and the sector could contribute 15% to the economy by 2030. Financially, the company’s revenue doubled from ₹77.0 crores in FY22 to ₹154.2 crores in FY24, showing an impressive annual growth rate of 26.0%. Its profit after tax also grew from ₹18.8 crores in FY22 to ₹36.4 crores in FY24, with an annual growth rate of 24.7%. The average debt-to-equity ratio of other companies in the industry ranged between 0.23x and 0.66x during FY19-FY23, but in FY23, the company has reduced its debt & is debt-free. With an order book worth ₹1,408 crores, which is 9.2 times its sales, and an IPO priced at a reasonable Price-to-Earnings (P/E) ratio of 19.5x based on FY24 earnings, we recommend a “SUBSCRIBE” rating for this IPO from a long-term perspective,” said Akriti Mehrotra, Research Analyst at StoxBox.

    However, SEBI registered research analyst VLA Ambala has suggested investors avoid this public issue, saying, “On the financial front, the company has witnessed strong growth. With revenues of more than ₹15 lakhs in FY24 and a profit margin of 34.80%, the IPO is priced with a P/E of 11.7x at the upper price band in FY24 earnings. The sudden spike is a red alarm, and its trade receivables are higher than its top lines, as reported so far. However, it has an order book of 1400 for next year, but in my opinion, its financial state is compelling. Also, IPO timing got bad when Indian markets showed weakness; therefore, its impact will be seen in IPO, especially when company fundamentals are not great. I see a mute listing in it, so if traders and investors plan only for listing gains, they can avoid this IPO. Many good companies in the market have outperformed and are currently available at discounted prices. If you have an investment plan, I would suggest to look for such companies. Moreover, do not get caught in FOMO as every yellow thing is not gold.”


    Garuda Construction and Engineering Limited IPO details
    In the wake of the ‘T+3’ listing rule, the most likely Garuda Construction and Engineering Limited IPO allotment date is 11th October 2024, i.e., on Friday this week, whereas the most likely Garuda Construction and Engineering Limited IPO listing date is 15th October 2024, i.e., on Tuesday next week.

    MORE INFORMATION : https://24onlive.in/latest-market-news-garuda-construction-and-engineering-limited-ipo-gmp-subscription-status-to-review-buy-or-not/
    Garuda Construction IPO: The initial public offering (IPO) of Garuda Construction and Engineering Limited hit the Indian primary market on 8th October 2024 and will remain open until 10th October 2024. This means investors have just one day to apply for the Garuda Construction and Engineering Limited IPO. As per the Garuda Construction and Engineering Limited IPO subscription status, the public issue has received a decent response from investors in all segments. Meanwhile, the grey market has been cautious about the Garuda Construction and Engineering Limited IPO. According to stock market observers, shares of the company are available at a premium of ₹5 in the grey market today. Garuda Construction and Engineering Limited IPO GMP As mentioned, Garuda Construction and Engineering Limited’s IPO GMP (Grey Market Premium) today is ₹5, ₹5 lower than Wednesday’s GMP of ₹10. Market observers said that Garuda Construction and Engineering Limited’s IPO GMP has fallen from ₹20 to ₹5 in just two days, recording a 75% fall in its grey market premium. Garuda Construction and Engineering Limited IPO subscription status By 2:54 PM on day three of bidding, the public issue had been booked 6.57 times, the retail portion 9.90 times, the NII segment 6.64 times, and the QIB portion 1.13 times. Garuda Construction and Engineering Limited IPO review Giving a ‘buy’ tag to the Garuda Construction and Engineering Limited IPO, Anshul Jain, Head of Research at Lakshishree Investment and Securities, said, “Garuda Construction and Engineering is set to launch its IPO with a price band between ₹92 and ₹95 per equity share, with a face value of ₹5 each. The company, which has seen impressive growth, reported revenues of ₹7,702.08 lakh in FY22, soaring to ₹15,417.83 lakh by FY24. This reflects a solid Compound Annual Growth Rate (CAGR) of 26.03%.” “The funds from the IPO will support the company’s operational needs and fuel general business expansion, including potential non-organic acquisitions. The latest Grey Market Premium (GMP) for the IPO stands at ₹5, pushing the estimated listing price to ₹100. This suggests the debut of the company shares. We maintain a “Subscribe” view on the Garuda Construction IPO for potential listing gains.” “With rising demand for infrastructure and strong government support, India could become the third-largest construction market in the world, and the sector could contribute 15% to the economy by 2030. Financially, the company’s revenue doubled from ₹77.0 crores in FY22 to ₹154.2 crores in FY24, showing an impressive annual growth rate of 26.0%. Its profit after tax also grew from ₹18.8 crores in FY22 to ₹36.4 crores in FY24, with an annual growth rate of 24.7%. The average debt-to-equity ratio of other companies in the industry ranged between 0.23x and 0.66x during FY19-FY23, but in FY23, the company has reduced its debt & is debt-free. With an order book worth ₹1,408 crores, which is 9.2 times its sales, and an IPO priced at a reasonable Price-to-Earnings (P/E) ratio of 19.5x based on FY24 earnings, we recommend a “SUBSCRIBE” rating for this IPO from a long-term perspective,” said Akriti Mehrotra, Research Analyst at StoxBox. However, SEBI registered research analyst VLA Ambala has suggested investors avoid this public issue, saying, “On the financial front, the company has witnessed strong growth. With revenues of more than ₹15 lakhs in FY24 and a profit margin of 34.80%, the IPO is priced with a P/E of 11.7x at the upper price band in FY24 earnings. The sudden spike is a red alarm, and its trade receivables are higher than its top lines, as reported so far. However, it has an order book of 1400 for next year, but in my opinion, its financial state is compelling. Also, IPO timing got bad when Indian markets showed weakness; therefore, its impact will be seen in IPO, especially when company fundamentals are not great. I see a mute listing in it, so if traders and investors plan only for listing gains, they can avoid this IPO. Many good companies in the market have outperformed and are currently available at discounted prices. If you have an investment plan, I would suggest to look for such companies. Moreover, do not get caught in FOMO as every yellow thing is not gold.” Garuda Construction and Engineering Limited IPO details In the wake of the ‘T+3’ listing rule, the most likely Garuda Construction and Engineering Limited IPO allotment date is 11th October 2024, i.e., on Friday this week, whereas the most likely Garuda Construction and Engineering Limited IPO listing date is 15th October 2024, i.e., on Tuesday next week. MORE INFORMATION : https://24onlive.in/latest-market-news-garuda-construction-and-engineering-limited-ipo-gmp-subscription-status-to-review-buy-or-not/
    24ONLIVE.IN
    Latest Market News: Garuda Construction and Engineering Limited IPO: GMP, subscription status to review. Buy or not?
    Garuda Construction IPO: The initial public offering (IPO) of Garuda Construction and Engineering Limited hit the Indian primary market on 8th October 2024
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  • Guide to Choosing the Best Kid Boys T-Shirt for Your Child

    The guide will walk you through some key considerations that should be made in choosing a good t-shirt for your boy-like material, comfort levels, design, and durability. Brands like One friday world have pretty good collections as per your choice and preference. For more info visit here: https://mstravaloo.com/2024/09/25/guide-to-choosing-the-best-kid-boys-t-shirt-for-your-child/
    Guide to Choosing the Best Kid Boys T-Shirt for Your Child The guide will walk you through some key considerations that should be made in choosing a good t-shirt for your boy-like material, comfort levels, design, and durability. Brands like One friday world have pretty good collections as per your choice and preference. For more info visit here: https://mstravaloo.com/2024/09/25/guide-to-choosing-the-best-kid-boys-t-shirt-for-your-child/
    MSTRAVALOO.COM
    Guide to Choosing the Best Kid Boys T-Shirt for Your Child
    The perfect t-shirt for boys at One friday world would be one that matches comfort, durability, style, and most importantly, safety.
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