Gland Pharma Share Price: Gland Pharma shares rose 12% despite a 15.7% YoY profit decline in Q2. Kotak upgraded the stock to 'Reduce' with a revised target price of Rs 1,625, citing improved core business performance.
SEBI issued a third advisory warning investors about unauthorized platforms offering virtual trading, paper trading, and fantasy games. It urged investing only through registered intermediaries to avoid financial losses and fraud.
Ola Electric Share Price: Ola Electric Mobility's shares dipped 7% as an 18.2 crore share lock-in period ended, allowing certain investors to sell their previously restricted shares. This lock-in period, common after IPOs, aims to stabilize stock prices. The company's shares, despite a recent surge, have experienced declines over the past month. An upcoming board meeting will address financial results.
Pharma and healthcare mutual funds have yielded impressive returns in 2024. The sector benefited from resilience amidst corrections in other sectors and steady growth in the domestic market. Experts suggest a cautious approach to investment due to current valuations. A phased allocation strategy of 10-15% is recommended, with potential for increasing allocation over time.
Sagility India raised Rs 945 crore from anchor investors, including prominent mutual funds and institutions, at Rs 30 per share. The company's IPO, entirely an offer-for-sale, opened for public subscription with a price band of Rs 28-30 per share. The IPO aims to raise Rs 2,106.60 crore at the upper end of the price band.
Raymond's shares climbed 4.5% despite a 63% drop in Q2 profit, driven by strong revenue growth in real estate and engineering. Real estate revenue surged 135% and engineering revenue jumped 121%. The company highlighted project execution and strong domestic demand as key growth drivers.
Market expert Ajay Bagga analyzes the recent market downturn, attributing it to global outflows and uncertainty surrounding the US elections. He suggests that while the Indian markets have factored in corporate earnings weakness, a bottom formation hinges on a halt to FII outflows. Also, in case of a Trump victory, there could be a new incumbent in the Fed chairperson's office very soon.
The company has fixed a price band of Rs 371-390 per share for the IPO, which means that the investors are willing to pay about Rs 410 for one share of the company.
