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LK Mehta Polymers will launch its SME IPO on February 13, targeting to raise about Rs 7 crore through 10.4 lakh shares. Priced at Rs 71 per share with a GMP of Rs 10, the proceeds aim to meet working capital needs and general corporate purposes.
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About 460 companies are set to announce their Q3 earnings, including Hindalco and SJVN. Hindalco is expected to show robust growth, with a 62% YoY profit increase and an 11% revenue rise due to higher aluminium and alumina prices. Novelis may struggle with lower EBITDA due to tight scrap availability and flooding impacts at its Swiss plant.
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Australian shares opened fractionally higher Thursday. Equity index futures for Japan and Hong Kong also climbed while a gauge of US-listed Chinese companies advanced 2.7% Wednesday. US equity futures edged higher after the S&P 500 fell 0.3% Wednesday and the Nasdaq 100 rose 0.1%.
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