Page 19 - Tata Tech News Today

Coal India share price has surged significantly in 2023 and experts anticipate further gains, with brokerage firms maintaining buy calls on the stock.

Diwali fireworks are expected to continue on Dalal Street next week, with four companies collectively seeking to mobilise over Rs 6,600 crore through initial public offerings (IPOs). In terms of the amount raised, this is poised to be the busiest week of calendar year 2023. Tata Technologies (Tata Tech), a subsidiary of Tata Motors, could lead the charge with an IPO projected to be over Rs 2,900 crore. This will mark the first maiden share sale by a Tata Group firm in nearly two decades.

Gopal Snacks IPO: The IPO consists of only an offer-for-sale (OFS) of Rs 650 crore worth shares by shareholders including promoters, and there is no fresh issue component

Analysts seem to be veering towards Tata Tech IPO as they believe it is a must apply not only based on the grey market trends for listing gains, but also for its long-term prospects due to Tatas lineage and healthy financials.

As many as 17 domestic mutual fund houses picked up shares worth Rs 355 crore in the anchor book of Tata Technologies’ IPO through a total of 39 schemes.

The Tata Technologies IPO attracted maximum investor interest, witnessing a subscription of 6.5 times, followed by Gandhar Oil Refinery (5.66 times) and Flair Writing Industries (2.3 times)

The initial public offering (IPO) of Tata Tech will open for subscription on Wednesday, November 22.

While Tata Investment Corp, a listed holding company for several Tata group companies, does not directly own a stake in Tata Technologies, it owns a 0.33% stake in Tata Motors, which is Tata Technologies parent entity.

“The conditions are basically playing a major role in giving a good amount of business to most of the hospitality players – be it Indian Hotels, East India Hotels or even the mid-tier small hotel segment. Be it ITC, be it Indian Hotels, the hospitality heroes have all been following the asset-light model strategy now, wherein most of the properties that they are working on now is on an operational management contract, vis-à-vis earlier situation of owning the assets.”

Indian growth story is expected to remain strong on the back of strong consumption demand and robust capex growth, says Akhil Bhardwaj.