Nuvama has a ‘hold’ recommendation on Ambuja Cements with a target price of Rs 667 (+19%). The company is merging Shanghi Industries and Penna Cement with itself for operational efficiencies and to improve efficiencies. Analysts feel this decision to streamline the structure of the company is a welcome move.Kotak Institutional Equities has given a ‘reduce’…
Indian food-delivery platform Swiggy Ltd. is seeking to sell shares for as much as 390 rupees ($4.64) each in an initial public offering that may raise $1.35 billion, people familiar with the matter said.The IPO will open for bids from November 6, and the shares are expected to start trading from Nov. 13, according to…
The initial public offering of Hyundai Motor India Ltd, the Indian subsidiary of South Korean automaker Hyundai, saw an 18 percent subscription on its first day of bidding on Tuesday. According to the data released by the National Stock Exchange, the Rs 27,870 crore initial share sale received bids for 1,77,89,457 shares against 9,97,69,810 shares…
