Japanese financial holding company Nomura has picked up a stake worth Rs 66 crore in Azad Engineering via a block deal. It bought over 4.10 lakh shares at a price of Rs 1,616.85 per equity share which was at an 8% discount over the Thursday closing price of Rs 1,753.60. The block deal was executed … Read more
“Our top picks in the sector are Solar Industries and the target price that we have is 13,720. If you look at PTC Industries, we have the target price of 20,070. And if you look at Azad Engineering, our target price is 2,350, that is clearly more than 20% return that we are targeting for … Read more
The European Commission has announced a major defence initiative, the ReArm Europe Plan, in response to the rising security threats. Analysts believe that the European defence spending will boost Indian defence stocks, particularly Bharat Electronics and HAL among others. Further, the government spending on infrastructure and capital goods remains strong, and private sector capacity expansion … Read more
Equity indices rebounded sharply on Monday, surging nearly 2%, on heavy buying in RIL and a rally in Asian markets. The 30-share Sensex jumped 1,240 points to settle at 71,941 and the Nifty climbed 385 points to 21,737. Stocks that were in focus included names like Azad Engineering, which rose 5.72%, Tata Technologies, which fell … Read more
Two companies — Popular Vehicles and Services Ltd and Azad Engineering have filed their respective draft red herring prospectus with market regulator Sebi. Popular Vehicles and Services IPO comprises fresh equity issue of Rs 250 crore and an offer for sale up to 1.42 crore shares. Banyan Tree Growth Capital is the sole selling shareholder … Read more
Azad Engineering Ltd has filed draft papers with capital markets regulator Sebi to raise Rs 740 crore through an initial public offering (IPO). The company’s IPO comprises a fresh issue of up to Rs 240 crore and an offer-for-sale (OFS) of equity shares aggregating up to Rs 500 crore by a promoter and investors, according … Read more