Billion-dollar cos: India ahead of Germany, France & Canada with 335
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Currently, India is ranked fifth and is inching towards the fourth position which is currently held by the United Kingdom with 351 companies.
More than two dozen companies have joined India’s billion-dollar market cap club in the last two months.
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Indian companies into the billion-dollar market cap club. The number of domestic companies whose market value has exceeded a billion dollars has touched an all-time high of 335, exceeding that of countries like Germany, France, Canada or South Korea.
Currently, India is ranked fifth and is inching towards the fourth position which is currently held by the United Kingdom with 351 companies.
Here s breaking down the pre-market actions:
STATE OF THE MARKETS
Nifty futures on the Singapore Exchange traded 209.50 points, or 1.37 per cent, lower at 15,085.50 in signs that Dalal Street was headed for a gap-down start on Thursday.
Tech View: Nifty support at 15,000
Nifty50 took out its 13-day and 20-day moving averages on Wednesday and formed a long bullish candle on the daily chart. This was the third day when the index formed higher highs and lows. Analysts said support for the index has shifted higher, and as long Nifty stays above 15,000, the bias may remain positive.
Asian shares tank up to 1.6% in early trade
The Rs 600-crore MTAR Technologies initial public offering (IPO) opened for subscription today. Price band for the IPO has been fixed at Rs 574-575 per share. The Hyderabad-based firm raised Rs 180 crore from 15 anchor investors on Tuesday. It allocated 3
MTAR Technologies IPO price band is Rs 574-575 per share.
MTAR Technologies share sale via initial public offering (IPO) began today and will continue till March 5, Friday. MTAR Technologies is planning to raise Rs 596 crore from the IPO which comprises of an offer for sale of Rs 472.90 crore and fresh issue of Rs 123.52 crore. MTAR Technologies is selling shares in the price band of Rs 574 to 575 per share in lot size of 26 shares. A retail investor can apply for a maximum of 13 lots at the upper price band of the issue one lot size will cost Rs 14,950.
Brokerage firm Anand Rathi has subscribe rating for MTAR Technologies IPO. In a research report Anand Rathi said, At the upper end of the IPO price band, it is offered at 45.32 times its trailing twelve months earnings, with a market cap of Rs 1,769 crore. The company operates in an industry with high entry barrier especially given the steep learning curve, investment in advanced manufacturing facilities, precision requirements
It is unfortunate that several good companies that could do wonders with IPO funds will miss out on a golden opportunity simply because they so far did not pay attention to the financial power of their brand.