Mon, Dec 23, 2024 5:30 PM
Wall Street Expected a Good Year for These 3 Stocks—What Happened?
A Flip by Shubhangi Gupta
Engineering and construction company Transrail Lighting has closed the subscription for its Rs 839-crore initial public offering on December 23. It recorded the third-highest subscription numbers amongst IPOs closed today, after Mamata Machinery and DAM Capital Advisors. Sanathan Textiles and Concord Enviro Systems were the other two public issues, closing today.
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HG Infra Engineering's subsidiary has entered into a battery energy storage purchase agreement with NTPC Vidyut Vyapar Nigam Ltd for 185 MW/370 MWH capacity on a long-term basis. HG Infra Engineering reported a 16% YoY dip in net profit to ₹80.7 crore in Q2 2024, with revenue from operations falling 5.5% YoY to ₹902.4 crore.
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Tata Group has initiated work on the initial public offer (IPO) of its flagship financial services arm Tata Capital, expected to be a big-bang deal exceeding Rs 15,000 crore, to comply with RBI's norms for 'upper layer' NBFCs. Tata Capital has roped in advisors Cyril Amarchand Mangaldas and Kotak Mahindra Capital, with pitches to engage other investment banks to follow.
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