Latest news with #MehtaEquities
Time of India
7 hours ago
- Business
- Time of India
Gold-silver rate today: Gold drops below Rs 1 lakh to Rs 99,960 per 10g; silver plunges Rs 2,000/kg as global investors cut bullion bets
Gold-silver rate today: Gold prices slipped below the Rs 1 lakh-mark, falling Rs 600 to Rs 99,960 per 10 grams in the national capital on Friday due to selling by jewellers and stockists in line with weak global cues, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had settled at Rs 1,00,560 per 10 grams in the previous market session. Gold of 99.5 per cent purity dipped Rs 550 to Rs 99,250 per 10 grams (inclusive of all taxes), compared to Rs 99,800 per 10 grams on Thursday. Silver prices also diminished by Rs 2,000 to Rs 1,05,200 per kilogram (inclusive of all taxes) on Friday. It had ended at Rs 1,07,200 per kg on Thursday. "Silver slid from recent highs, nearing one-week lows and heading for their first weekly decline in three weeks. It fell below $35.70 per ounce after a sharp rally earlier in the week," said Rahul Kalantri, Vice-President, Commodities at Mehta Equities. The decline came as investors liquidated positions in bullion to cover losses elsewhere amid rising geopolitical tensions between Israel and Iran. The Bank of England, in its monetary policy meeting on Thursday, also held rates steady, which limited the gains of precious metals. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Što je to umjetna inteligencija o kojoj svi pričaju? Courses AI Undo Kalantri added that intensifying conflict between Israel and Iran and weakness in the rupee are also supporting prices of gold and silver in domestic markets. On the global market, spot gold was trading at $3,353.67, lower by $16.72 per ounce, or 0.5 per cent. Spot silver fell 0.77 per cent to $36.10 per ounce in overseas markets. 'Traders will watch developments on US trade tariffs and Middle East military engagement will drive volatility. Any signs of de-escalation or non-involvement from the US in the Iran-Israel conflict could keep gold under pressure. On the other side, renewed tensions will continue to support prices,' said Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
12 hours ago
- Business
- Economic Times
Oswal Pumps shares rise 3% post listing below GMP; brokerages recommend holding for long term
ADVERTISEMENT What analysts are saying ADVERTISEMENT ADVERTISEMENT Business snapshot and use of funds ADVERTISEMENT ADVERTISEMENT Shares of Oswal Pumps climbed as much as 2.7% in early trade on Friday to Rs 649.15 on the BSE , after listing at Rs 632 apiece, marking a muted debut below grey market expectations. On the NSE , the stock opened slightly higher at Rs 634, a 3.26% premium over the issue price of Rs 614. Despite the underwhelming start, brokerages remain optimistic about the stock's long-term potential, citing strong fundamentals and favourable policy of the listing, the IPO's grey market performance had indicated a GMP of Rs 41, or 6.68%, implying a potential listing around Rs 655 per share. Instead, the stock settled in the low Rs 630s, even as the Sensex and Nifty gained 0.3% each in morning Rs 1,387.34-crore IPO, which ran from June 13–17, saw strong demand, particularly from institutional investors. The QIB segment was subscribed 88.08 times, NIIs 36.70 times, and retail investors 3.60 times. The offer comprised a fresh issue of Rs 890 crore and an offer-for-sale of Rs 497.34 crore by promoter Vivek Gupta.'Despite the recovering mood in the market and robust response from all sets of investors, Oswal Pumps' listing was well below our expectations,' said Prashanth Tapse, Senior VP (Research) at Mehta Equities. 'We continue to believe the IPO demand was driven by attractive valuation levels, offering reasonable long-term upside potential along with a well-diversified product portfolio across agriculture, industrial, and domestic water solutions.'Tapse added, 'We also see the company's strategic positioning benefiting from ongoing government infrastructure and rural development initiatives, especially those focused on water management and irrigation. We view Oswal Pumps as a compelling long-term investment opportunity, well-aligned with the government's continued emphasis on rural electrification and the promotion of solar-powered irrigation systems.'Mehta Equities has recommended a 'Hold' for investors allotted shares in the IPO. For those who missed out, Tapse advised: 'Consider accumulating on any dips post-listing, particularly if broader market sentiment causes short-term volatility. The business offers a strong combination of sectoral tailwinds and value-based fundamentals.'Gaurav Garg, from Lemonn Markets Desk, echoed the sentiment: 'Oswal Pumps Limited made its stock market debut today, June 20, 2025. The company's shares opened at Rs 634 on the NSE and Rs 632 on the BSE, registering a modest premium of 3.26% and 2.93%, respectively, over the issue price of Rs 614.''Backed by strong fundamentals, a solid anchor book, and robust institutional participation, Oswal Pumps has drawn positive market sentiment. Listing gains are expected to be in the range of 8–12%, with long-term prospects buoyed by the government's thrust on rural electrification and solar-powered irrigation systems,' Garg in 2003, Oswal Pumps has evolved from manufacturing low-speed monoblock pumps to offering a full suite of submersible pumps, electric motors, and solar water systems. The company has installed over 26,000 solar pumps under government schemes and exports to 17 the nine months ending December 2024, Oswal reported revenue of Rs 1,067 crore and net profit of Rs 216 IPO proceeds will be used for a mix of debt repayment and capacity expansion. The company plans to allocate Rs 280 crore for loan repayments, Rs 272.76 crore to invest in its subsidiary Oswal Solar, and Rs 89.86 crore for capital expenditure, including new manufacturing units in Karnal, investors who participated ahead of the IPO include Societe Generale, BNP Paribas , Smallcap World Fund Inc., ICICI Prudential , Kotak Mahindra MF, Quant MF, Amundi Funds, and others, committing Rs 416.20 crore at the upper end of the price band.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
12 hours ago
- Business
- Time of India
Oswal Pumps shares rise 3% post listing below GMP; brokerages recommend holding for long term
What analysts are saying Live Events Business snapshot and use of funds (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Oswal Pumps climbed as much as 2.7% in early trade on Friday to Rs 649.15 on the BSE , after listing at Rs 632 apiece, marking a muted debut below grey market expectations. On the NSE , the stock opened slightly higher at Rs 634, a 3.26% premium over the issue price of Rs 614. Despite the underwhelming start, brokerages remain optimistic about the stock's long-term potential, citing strong fundamentals and favourable policy of the listing, the IPO's grey market performance had indicated a GMP of Rs 41, or 6.68%, implying a potential listing around Rs 655 per share. Instead, the stock settled in the low Rs 630s, even as the Sensex and Nifty gained 0.3% each in morning Rs 1,387.34-crore IPO, which ran from June 13–17, saw strong demand, particularly from institutional investors. The QIB segment was subscribed 88.08 times, NIIs 36.70 times, and retail investors 3.60 times. The offer comprised a fresh issue of Rs 890 crore and an offer-for-sale of Rs 497.34 crore by promoter Vivek Gupta.'Despite the recovering mood in the market and robust response from all sets of investors, Oswal Pumps' listing was well below our expectations,' said Prashanth Tapse, Senior VP (Research) at Mehta Equities. 'We continue to believe the IPO demand was driven by attractive valuation levels, offering reasonable long-term upside potential along with a well-diversified product portfolio across agriculture, industrial, and domestic water solutions.'Tapse added, 'We also see the company's strategic positioning benefiting from ongoing government infrastructure and rural development initiatives, especially those focused on water management and irrigation. We view Oswal Pumps as a compelling long-term investment opportunity, well-aligned with the government's continued emphasis on rural electrification and the promotion of solar-powered irrigation systems.'Mehta Equities has recommended a 'Hold' for investors allotted shares in the IPO. For those who missed out, Tapse advised: 'Consider accumulating on any dips post-listing, particularly if broader market sentiment causes short-term volatility. The business offers a strong combination of sectoral tailwinds and value-based fundamentals.'Gaurav Garg, from Lemonn Markets Desk, echoed the sentiment: 'Oswal Pumps Limited made its stock market debut today, June 20, 2025. The company's shares opened at Rs 634 on the NSE and Rs 632 on the BSE, registering a modest premium of 3.26% and 2.93%, respectively, over the issue price of Rs 614.''Backed by strong fundamentals, a solid anchor book, and robust institutional participation, Oswal Pumps has drawn positive market sentiment. Listing gains are expected to be in the range of 8–12%, with long-term prospects buoyed by the government's thrust on rural electrification and solar-powered irrigation systems,' Garg in 2003, Oswal Pumps has evolved from manufacturing low-speed monoblock pumps to offering a full suite of submersible pumps, electric motors, and solar water systems. The company has installed over 26,000 solar pumps under government schemes and exports to 17 the nine months ending December 2024, Oswal reported revenue of Rs 1,067 crore and net profit of Rs 216 IPO proceeds will be used for a mix of debt repayment and capacity expansion. The company plans to allocate Rs 280 crore for loan repayments, Rs 272.76 crore to invest in its subsidiary Oswal Solar, and Rs 89.86 crore for capital expenditure, including new manufacturing units in Karnal, investors who participated ahead of the IPO include Societe Generale, BNP Paribas , Smallcap World Fund Inc., ICICI Prudential , Kotak Mahindra MF, Quant MF, Amundi Funds, and others, committing Rs 416.20 crore at the upper end of the price band.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Mint
15 hours ago
- Business
- Mint
Brent down 2% on uncertainty over US participation in Israel-Iran conflict
New Delhi: Oil prices eased on Friday morning as traders awaited the decision of the US over its participation in the Israel-Iran conflict. The Brent August contract on the Intercontinental Exchange traded at $77.20 per barrel at 10.08 am, over 2% lower than its previous close. The White House said on Thursday that President Donald Trump will decide whether or not the US gets directly involved in the Iran-Israel conflict within the next two weeks. 'Crude oil remains highly volatile, with prices reacting sharply to developments and statements related to the Israel-Iran conflict,' said Rahul Kalantri, vice president for commodities at Mehta Equities. 'Yesterday, we saw a sharp jump in crude oil prices… but this morning we are seeing a dip in prices after the White House stated that President Trump will decide on Iran in two weeks, calming immediate fears of escalation.' Still, oil is set for a third consecutive weekly gain, Kalantri added. "The markets remain jittery as risks of supply disruptions from Iran and broader conflict escalation loom large. Geopolitical tensions and supply fears continue to support oil prices despite temporary pullbacks," he said. Sriram Iyer, senior research analyst at Reliance Securities, noted that escalating hostilities in West Asia continued to fuel fears of regional supply disruptions and could cap any downside. The India crude basket, which represents the price at which Indian refiners import oil, stood at $75.91 per barrel on Wednesday. The average price in June stands at $68.58 a barrel, compared with $64.04 in May.
News18
16 hours ago
- Business
- News18
Gold Prices Fall For 4th Day To Near One-Week Low: Check 22kt, 24kt Rates In Your City On June 20
Gold Rates In India Today, June 20, 2025: In Mumbai, the price of gold stood at Rs 92,100 per 10 grams for 22-carat and Rs 1,00,480 per 10 grams for 24-carat. Gold Prices In India Today, June 20: Gold prices on Friday continued to decline for the fourth day in a row as investors liquidated positions in bullion to cover losses elsewhere amid rising geopolitical tensions between Israel and Iran. The yellow metal prices are at a near one-week low and heading for their first weekly decline in three weeks. In Mumbai, the price of gold stood at Rs 92,100 per 10 grams for 22-carat and Rs 1,00,480 per 10 grams for 24-carat. Silver was also trading down at Rs 1,12,100 per kg in the city. These spot prices do not include making charges and 3% GST. In the futures market, on the MCX, gold was trading lower by 0.50% at Rs 98,837 per 10 grams, whereas silver was down by 1.41% to trade at 1,05,875 per kg. Rahul Kalantri, vice-president (commodities) of Mehta Equities, said, 'Gold and silver prices slid from recent highs, nearing one-week lows and heading for their first weekly decline in three weeks. Silver prices fell below $35.70 per ounce after a sharp rally earlier in the week. The decline came as investors liquidated positions in bullion to cover losses elsewhere amid rising geopolitical tensions between Israel and Iran." The Bank of England also held rates steady in its monetary policy meetings on Thursday which also limited gains of precious metals. However, escalation of the Israel-Iran war and weaker dollar index are supporting safe-haven buying for precious metals. Weakness in the rupee is also supporting prices of gold and silver in the domestic markets, he added.
