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Trade Spotlight: How should you trade HDFC AMC, Raymond, Exide, Bajel Projects, and others on Wednesday?

Money ControlMoney Control · 1y ago
Trade Spotlight: How should you trade HDFC AMC, Raymond, Exide, Bajel Projects, and others on Wednesday?
Medial

These are some stock ideas for short-term trading: 1. Can Fin Homes: After forming a soccer pattern on the daily chart, Can Fin Homes had a pullback and revisited its prior support level. With significant volume increase and upward price movement, a long position can be initiated. 2. HDFC Asset Management Company: HDFC AMC has been consolidating within a broad range, but there has been a recent rise in price with strong volumes. Trading above its 20-day moving average and critical resistance zone, it indicates potential for further upward movement. 3. Lemon Tree Hotels: Lemon Tree Hotels is forming higher highs and higher lows, indicating a sustained uptrend. With a comfortable RSI and noticeable volume increase accompanying the price rise, a long position can be initiated. 4. Exide Industries: Exide Industries made a fresh record high and closed with a gain. The stock is showing strength in the ongoing trend, with the KST indicator also suggesting good momentum. Dips can be seen as buying opportunities. 5. Raymond: Raymond formed a large bullish candle with huge volumes and closed with a significant gain. The stock is on a positive trend as long as it doesn't close below the previous day's low. Buying on dips is considered a prudent strategy. 6. Craftsman Automation: Craftsman Automation is in a strong uptrend, and a breakout of the rounding bottom pattern is expected. The ADX indicator supports the trend, and buying on dips can be a strategy. 7. Apollo Tyres: Apollo Tyres has given a strong breakout above its trendline resistance. With strong momentum indicated by the RSI crossing above 65 and high volumes, a potential target can be set. 8. Granules India: Granules has re-tested its breakout mark and is holding well above it. Strong momentum is indicated by the RSI near 65, and volumes are equivalent to its 30-day average traded volume. An upside target can be set. 9. Bajel Projects: Bajel Projects has re-tested its breakout mark and is holding well above it. Strong momentum indicated by the RSI and equivalent volumes to its 30-day average trading volume. A strict stop-loss and potential upside target can be set. Note: These stock ideas are provided by different experts and it is advised to check with certified experts before making any investment decisions.

Stock Radar: Titan, Jio Financial, Bandhan Bank, Lupin, CG Power, Diffusion Engineers, GAIL in focus on Monday

Money ControlMoney Control · 10m ago
Stock Radar: Titan, Jio Financial, Bandhan Bank, Lupin, CG Power, Diffusion Engineers, GAIL in focus on Monday
Medial

- Quarterly earnings (YoY) of companies such as Titan Company, Induslnd Bank, Bandhan Bank, Poonawalla Fincorp, Jammu & Kashmir Bank, AU Small Finance Bank, IDBI Bank, RBL Bank, Godrej Properties, L&T Finance, Macrotech Developers, Federal Bank, Metropolis Healthcare, Indian Bank, Union Bank of India, Utkarsh Small Finance Bank, Equitas Small Finance Bank, Dhanlaxmi Bank, Ujjivan Small Finance Bank, Adani Wilmar expected to be released. - SEBI grants in-principle approval for Jio Financial Services and BlackRock Financial Management Inc to set up a proposed mutual fund. - GAIL (India) signs MoU with AM Green to jointly develop renewable energy and green chemical projects. - Lupin receives five observations from the US FDA for its biotech facility in Pune. - Antony Waste Handling Cell's subsidiary wins a contract worth Rs 908 crore from Navi Mumbai Municipal Corporation for waste collection and transportation. - CFO resignations at Univa Foods (Sandhya Rani Koochana) and Mahanagar Telephone Nigam (Vinay Srivastav). - BLS International Services completes the acquisition of Citizenship Invest for $31 million. - Paytm's Chief Technology Officer - Payments, Manmeet Singh Dhody, steps down and transitions to a new role as an AI Fellow, while Deependra Singh Rathore is appointed as the new CTO - Payments. - Gravita India plans to raise up to Rs 1,000 crore through the issuance of equity shares and makes management changes. - Akzo Nobel India's parent company, Akzo Nobel NV, conducts a strategic review of its portfolio, focusing on its decorative paints positions in South Asia. - Apollo Tyres' stake increases as LIC buys 3 lakh additional shares. - R Systems International witnesses a significant stake sale by Non-Resident Indian Bhavook Tripathi. - HDFC Bank witnesses a block deal as BNP Paribas Financial Markets sells equity shares to Morgan Stanley Asia (Singapore) Pte and Citigroup Global Markets Mauritius. - SME listings on October 7: HVAX Technologies, Saj Hotels. - Stocks will trade ex-dividend: Jupiter Wagons, KP Energy. - Rights offered by Geojit Financial Services trade ex-date. - F&O ban on GNFC, Bandhan Bank, Birlasoft, Granules India, Hindustan Copper, Manappuram Finance, RBL Bank. Note: This content is for informative purposes only and not a recommendation to invest or trade.

Spiritual startup My Tirth India shuts down ops due to lack of funds

EntrackrEntrackr · 11m ago
Spiritual startup My Tirth India shuts down ops due to lack of funds
Medial

Spiritual tech startup My Tirth India announced on Monday that it is shutting down operations due to a funding crisis. This news comes as a surprise, given that spiritual tech has emerged as one of the hottest sectors, even though the funding environment has been tight for others. In the past 15 months, over a dozen startups in the spiritual tech space have mopped up more than $40 million. My Tirth India is a pilgrimage and darshan site which used to enable tours to India’s top religious destinations by bringing temples, priests, hotels, travel agents, astrologers, ayurveda, and yoga to one platform. “..we have tried to generate as much employment as possible across cities, villages and towns encouraging people to rediscover their culture, traditions and heritage. But it’s with utter sadness that we finally have to shut down the office due to the lack of funds after the unfortunate demise of our principal shareholder and mentor,” said Indraneel Dasgupta, co-founder and CEO of My Tirth India. According to My Tirth India, it raised nearly $1 million from the late Subrata Roy who was the company’s principal shareholder and mentor. Roy was the founder and managing director of Sahara India Pariwar. Currently, singer Anup Jalota is My Tirth India’s chief mentor. Founded in 2019, the firm also launched spiritual membership programmes for travelers, and spiritual showrooms in cities like Lucknow, Varanasi, Kolkata, Noida, and spiritual products like agarbatti, dhoop, puja samagri, havan samagri, and idol, among others. According to industry reports, the Indian travel industry accounts for 10% of the country’s GDP. About 65% to 70% of the entire volume is contributed by spiritual tourism. As per data compiled by TheKredible, astro and spiritual tech startups have rmore than $40 million in the past 15 months. The notable names include Ustav App, DevDham, InstaAstro, AstroTalk, Vama, and Melooha also raised decent funding during the period. SriMandir’s parent company AppsForBharat is also in talks to raise $15 million in a new round. Entrackr exclusively reported the development in May.

Urban Company DRHP: To raise Rs 1,900 Cr via primary issue and OFS

EntrackrEntrackr · 3m ago
Urban Company DRHP: To raise Rs 1,900 Cr via primary issue and OFS
Medial

Home services marketplace Urban Company has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) on Monday. The IPO includes a fresh issue of equity shares worth Rs 429 crore (approximately $50 million) and an offer for sale (OFS) of equity shares amounting to Rs 1,471 crore, as per the DRHP. As part of the offer for sale, Accel India will offload shares worth Rs 433 crore, while Elevation Capital and Tiger Global will sell shares valued at Rs 346 crore and Rs 303 crore, respectively. VY Capital and Bessemer will divest shares worth Rs 216 crore and Rs 173 crore through the IPO. According to the DRHP, Elevation Capital is the largest external shareholder with 10.84%, followed by Accel India and VY Capital, which hold 10.5% and 9.18%, respectively. Steadview and Prosus each own 6.80%, while Bessemer and Tiger Global command 6.46% and 4.73% stakes, respectively. The firm’s co-founders — Abhiraj Singh Bhal, Varun Khaitan, and Raghav Chandra — collectively own 20.01%, divided equally among the three. Urban Company plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO will be managed by Kotak Mahindra, Morgan Stanley, Goldman Sachs, and JM Financial, who are acting as the book-running lead managers. Importantly, as an early-stage investor, Accel is set to secure a significantly larger exit than any other investor in Urban Company. Its exit value will be 16.6 times higher than Tiger Global’s, 5.6 times higher than VY Capital’s, and 97% higher than Bessemer India’s. Elevation Capital, which also invested in Urban Company during its early years, is expected to achieve a lucrative exit as well. According to the company, the net proceeds from the fresh issue will be utilized for the new technology, cloud infrastructure, lease payments, marketing, and other general corporate purposes. In the first nine months of FY25, the company posted revenue of Rs 846 crore and a restated profit of Rs 24.25 crore. For the full fiscal year ended March 2024, it reported revenue of Rs 828 crore and a loss of Rs 92.7 crore.

XYXX announces ESOP buyback program

EntrackrEntrackr · 1y ago
XYXX announces ESOP buyback program
Medial

Men-focused premium innerwear and lifestyle brand XYXX has announced its first Employee Stock Ownership Plan (ESOP) buyback. XYXX’s ESOP programme was introduced 4 years ago, and employees who have completed their tenure are eligible for the buyback. According to the firm, the eligible employees are allowed to liquidate at a 6X premium on the allotted price with zero strike price. XYXX’s ESOP buyback programme currently includes employees spanning from senior managers to heads of departments as well as executive leadership. The buyback comes within a year of XYXX’s $13.5 million Series C round led by Amazon Smbhav Venture Fund. XYXX claims to have pan-India presence with over 22,000 touchpoints through top Multi Brand Outlets (MBOs), a strong modern trade presence with Shoppers Stop, and Reliance Trends, amongst others as well as Exclusive Brand Outlets (EBOs) in multiple key cities. Its products are available on website (xyxxcrew.com) and available on e-commerce marketplaces including Amazon, Flipkart, Myntra and Ajio. On Monday, audio series platform Pocket FM announced its first ESOP buyback worth $8.3 million. As per data compiled by TheKredible, the total EOSP buyback/payout/liquidity stood at nearly $802 million in 2023. In 2021 and 2022, the buyback amount was recorded at $440 and $200 million respectively. In 2024, MyGate, Classplus and Meesho also completed their ESOP buyback scheme.

Aye files DRHP for Rs 1,450 Cr IPO; largest backer Elevation skips OFS

EntrackrEntrackr · 7m ago
Aye files DRHP for Rs 1,450 Cr IPO; largest backer Elevation skips OFS
Medial

Capital G-backed microlending platform Aye (formerly Aye Finance) has filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO) on Monday. According to the DRHP, the company aims to raise a total of Rs 1,450 crore through its IPO. This includes a fresh issue of equity shares worth Rs 885 crore (approximately $105 million) and an offer for sale (OFS) amounting to Rs 565 crore (approximately $67 million). LGT Capital and Capital G will divest Rs 150 crore and 136.8 crore worth of shares in OFS (offer for sale), respectively, while A91 Fund and Alpha Wave will offload Rs 100 crore each in the secondary sale. MAJ Invest, along with Harleen Kaur Jetley and Vikram Jetley, will sell Rs 78 crore worth of shares at the same time. Notably, Elevation Capital, being the largest shareholder, is not participating in Aye Finance's offer for sale. The equity shares offered through the RHP are proposed to be listed on the BSE and NSE with the help of lead managers like Axis Capital, IIFL Capital, JM Financial, and Nuvama Wealth Management. Aye Finance offers three loan products with values ranging from Rs 50,000 to Rs 1,000,000: quasi-mortgage loans, hypothetical loans, and add-on loans. It operates across 398 locations in 22 states in India, providing financial services to micro and small enterprises, primarily in manufacturing, trading, and service industries. As per RHP, Elevation Capital (formerly SAIF Partners) is the largest external stakeholder with 16.19% followed by LGT Capital and Alpha Wave which hold 14.13% and 11.21%, respectively. Other notable investors include CapitalG at 10.26%, BII at 9.51%, and A91, which holds 9.23% in the company. During the previous fiscal year (FY24), Aye recorded a revenue of Rs 1,040 crore with profits standing at Rs 172 crore in the same period. Moreover, the first half of the ongoing fiscal year (H1FY25) has been impressive for the company, where it posted a revenue of Rs 692 crore with a profit of Rs 144 crore. The company ended FY24 with assets under management (AUM) of Rs 4,463 crore, while its AUM grew to Rs 4,980 crore H1FY25. According to startup data intelligence platform TheKredible, Aye Finance has raised Rs 2,610 crore (more than $300 million) in total funding including Rs 1,250 crore ($150 million) in equity. It competes with several NBFCs including Indifi, Axio (formerly Capital Float), Lendingkart, Flexiloans and others.

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