Shedding its ‘underperformer’ tag of the past four years, the Indian auto sector is all set to post a double-digit earnings CAGR over FY23-26E making it a prize catch for the investors, Jefferies said in a note while picking 9 stocks as buys out of the 11 in its auto universe coverage. Jefferies picks Tata … Read more
Shares of Adani Transmission, Adani Total Gas and Indus Towers will exit the MSCI Global Standard Index on May 31, 2023, as a part of the May rejig exercise. On the other hand, Max Healthcare Institute, Hindustan Aeronautics (HAL) and Sona BLW Precision Forgings will make an entry into the index. The exit of Adani … Read more
Blackstone has sold its entire 20.5% stake in Sona BLW Precision Forgings for about Rs 4,916 crore via a block deal on Monday. Blackstone, through its subsidiary, Singapore VII Topco III Pte Ltd, offloaded about 11,99,25,641 shares at a price of Rs 410 per unit, according to the data available with the exchanges. The sale … Read more
With most large-cap stocks priced to perfection, fund managers mostly looked at stocks in the mid- and small-cap space for their equity portfolios in June. They picked up shares of companies with superior revenue prospects, strong balance sheet, higher market share and better execution skills. A few prominent companies which found a place in the … Read more
NEW DELHI: The initial public offer (IPO) of Sona BLW Precision Forgings (Sona Comstar) will hit Dalal Street on Monday. The auto component manufacturer is looking to raise about Rs 5,550 crore from the primary market. The issue comprises fresh issuance of equity shares, aggregating up to Rs 300 crore, and an offer for sale … Read more