Latest news with #PrashanthTapse
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Business Standard
5 hours ago
- Business
- Business Standard
Sensex, Nifty snap 3-day losing streak; PSU banks lead broad rally
Snapping the three-day losing streak, Indian equity markets are witnessing a broad-based rally on Friday despite the persistent concerns around the ongoing Israel-Iran tensions showing no signs of improvement. Last checked, the benchmark BSE Sensex was trading at 82,110.67, up 748.80 points or 0.92 per cent, and the NIfty50 was up 224.55 points, or 0.91 per cent at 25,017.80 levels. All the major sectoral indices were trading higher, led by the PSU Bank index up over 2 per cent. The public sector bank (PSB) stocks were rallying after the Reserve Bank of India (RBI) released final guidelines on project finance loans that were less strict than previous suggestions. All 11 constituents of the Nifty PSU Bank index were trading higher led by Punjab National Bank, Union Bank of India, Bank of India, Canara Bank, Central Bank, and State Bank of India up over 1 per cent each. Among others, the Nifty Realty index, Bank, Energy, Metal, Auto IT, Oil & Gas, and Consumer Durables rose up to 2 per cent. Following a sharp plunge in Thursday's session, the Nifty Midcap 100 witnessed a rebound rising over 1 per cent and the Nifty Smallcap index around 0.8 per cent. Prashanth Tapse, senior vice president for research at Mehta Equities, investors should not expect a quick end to the Middle-East conflict, while volatility and wild swings are likely to become a new normal. According to Srikant Chouhan, head of equity research at Kotak Securities, as long as the market is trading between 24,700/81200 and 24,900/81600, range-bound activity is likely to continue. On the higher side, a successful breakout above 24,900/81600 could take the market to 25000-25050/82000-82200. On the other hand, breaking out of 24,700/81200 could increase the selling pressure. Below this level, the market could retest the levels of 24,500–24,475/80500-80300. "The strategy should be to take a long trade if Nifty crosses 25000. Keep a stop loss at 24800 for the same. On the other side, expect further weakness below 24700, however, in that case, we need to keep a stop loss at 24900 for the same. However, a close below 24700 would be negative in the short term," Chouhan said.
Mint
6 hours ago
- Business
- Mint
Oswal Pumps share price gains after muted listing. Should you buy, sell or hold?
Oswal Pumps share price traded higher on Friday after making a muted debut in the Indian stock market today. Oswal Pumps IPO listing date was today, 20 June 2025, and the equity shares of the company were listed on BSE and NSE. Oswal Pumps shares were listed at ₹ 634 per share on NSE, a premium of 3.26% to the issue price of ₹ 614 apiece. On BSE, Oswal Pumps share price opened at ₹ 632 apiece, higher by 2.93% than the issue price. Soon after the listing, Oswal Pumps share price rose to a high of ₹ 649.15 apiece on the BSE, and ₹ 652.00 apiece on NSE. Oswal Pumps IPO listing today was below Street expectations. Oswal Pumps IPO GMP today, or grey market premium today, signalled the debut at around 7% premium. As Oswal Pumps share listing is done, here's what analysts suggest about the stock. Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd noted that despite recovering mood in the market and robust response from all sets of investors, Oswal Pumps listing was well below expectation. 'We view Oswal Pumps as a compelling long-term investment opportunity, well-aligned with the government's continued emphasis on rural electrification and promotion of solar-powered irrigation systems. Post listing, we continue to recommend a 'Hold' for the long term, as the company is well-positioned to benefit from structural growth drivers in the agri and infrastructure sectors,' said Tapse. For non-allotted investors, he suggests considering accumulating Oswal Pumps shares 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,' Tapse added. Mahesh M. Ojha, AVP Research and Business Development at Hensex Securities Pvt Ltd, advises long-term investors may consider holding Oswal Pumps shares, especially given the company's scale, market share, and alignment with India's renewable and agri-infra goals. The solar pump space offers secular growth opportunities, and Oswal Pumps is well-positioned. 'Short-term investors who entered purely for listing gains might consider partially booking profits if Oswal Pumps share price rises above ₹ 675, but keeping some exposure could be prudent, given potential re-rating as visibility improves post-listing. New investors should wait for some price discovery post-listing before making fresh allocations, especially given the broader market volatility and potential post-listing selling pressure,' Ojha said. He believes Oswal Pumps stock presents a compelling long-term story, particularly for investors with a medium- to long-term horizon aligned with India's clean energy and agri-tech themes. At 1:10 PM, Oswal Pumps share price was trading 1.55% higher from listing price and up 4.53% from issue price at ₹ 641.80 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
6 hours ago
- Business
- Business Standard
Oswal Pumps shares list at 3% premium; should you buy, sell or hold?
Oswal Pumps IPO listing: Shares of Oswal Pumps made a lacklustre debut on the bourses on Friday, 20 June, following the completion of its initial public offering (IPO). On the National Stock Exchange (NSE), Oswal Pumps shares listed at ₹634 apiece, reflecting a premium of ₹20 or 3.26 per cent over the issue price of ₹614. Oswal Pumps shares listed at a slightly lower premium on the BSE, at ₹632 apiece, up ₹18 or 2.93 per cent from its issue price. However, the listing came below the grey market estimates. Ahead of their market debut, the unlisted shares of Oswal Pumps were quoted at around ₹655 per share, reflecting a grey market premium (GMP) of ₹41 or 6.68 per cent over the issue price of ₹614, according to sources tracking unofficial market activities. Should you buy, sell or hold Oswal Pumps shares? For allotted investors, Prashanth Tapse, senior Vice President (Research) at Mehta Equities, advises to hold the comapny's shares for the long term, citing the company's strong positioning to benefit from structural growth drivers in the agriculture and infrastructure sectors. "We see the company's strategic positioning as advantageous, especially in light of ongoing government initiatives in infrastructure and rural development, with a particular focus 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," said Tapse. For non-allotted investors, Tapse suggests considering accumulating on any dips post-listing, particularly if broader market sentiment results in short-term volatility. 'The business offers a strong combination of sectoral tailwinds and value-based fundamentals,' he added. Oswal Pumps IPO details The public offering of Oswal Pumps is a book-building issue valued at ₹1,387.34 crore, comprising a fresh issue of 14.5 million equity shares and an offer for sale (OFS), with promoter Vivek Gupta divesting up to 8.1 million equity shares. Oswal Pumps IPO was available for subscription from Friday, 13 June, to Tuesday, 17 June, at a price band of ₹584–614 per share, with a lot size of 24 shares. The basis of allotment of company's shares was finalised on Tuesday, 18 June. Oswal Pumps has set the issue price at ₹614 per share. The company will not receive any proceeds from the OFS. 'The Promoter Selling Shareholder will be entitled to the proceeds from the sale of the Offered Shares in the Offer for Sale, net of the offer-related expenses and relevant taxes thereon,' Oswal Pumps said in its Red Herring Prospectus (RHP). The company, however, intends to utilise the proceeds from the fresh issue for funding certain capital expenditure, investing in its wholly-owned subsidiary, Oswal Solar, through equity, funding the establishment of new manufacturing units in Karnal, Haryana, and for pre-payment/repayment, in part or full, of certain outstanding borrowings availed by the company. The company will also utilise the fresh proceeds for investment in its wholly-owned subsidiary, Oswal Solar, through equity, for repayment/prepayment, in part or full, of certain outstanding borrowings availed by Oswal Solar, and for general corporate purposes. MUFG Intime India (formerly Link Intime) serves as the registrar for the public offering of Oswal Pumps, while IIFL Capital Services, Axis Capital, CLSA India, JM Financial, and Nuvama Wealth Management are the book-running lead managers. About Oswal Pumps Oswal Pumps manufactures and distributes a diverse range of pumps for domestic, agricultural, and industrial applications. The company has executed orders for 26,270 turnkey solar pumping systems under the PM-KUSUM Scheme for several Indian states. Oswal Pumps operates a manufacturing facility in Karnal, Haryana, and has a growing network of distributors across India. The company exports its products to 17 countries across the Asia-Pacific, Middle East, and North Africa regions.
Mint
6 hours ago
- Business
- Mint
Tata Motors to Titan - Prashanth Tapse suggests stocks to buy in the short term
Stock market today: On Friday, June 20, Indian stock market indices, the Sensex and the Nifty 50, recorded significant gains during intraday trading, despite heightened tensions between Israel and Iran. The Sensex started at 81,354.85 compared to its previous close of 81,361.87 and surged over 800 points, or 1%, reaching an intraday peak of 82,186.37. Meanwhile, the Nifty 50 commenced at 24,787.65 against its prior close of 24,793.25 and also climbed 1% to achieve an intraday high of 25,040.45. The rise was widespread, as the BSE Midcap and Smallcap indices each increased by more than half a percent during the session. The Indian stock market is experiencing strong buying interest across various segments. Several factors appear to be driving the stock market surge, including short covering following a recent decline, a drop in crude oil prices, and purchases by foreign portfolio investors (FPIs), according experts. Nifty 50 witnessed a sharp decline amid a spike in global volatility and escalating tensions in the Middle East. The index has slipped below the 25,000 mark, with crucial support now placed at 24,700 and 24,600. A gap-down opening or continued weakness may lead to a retest of these zones. Traders are advised to stay cautious and avoid aggressive longs until the index stabilizes. Watch for signs of reversal near key supports before re-entering. Bank Nifty breached the 56,000 mark, signaling weakness and potential downside. A further dip below 55,900 could trigger a fall toward the 55,500–55,400 zone. While the broader structure remains in a range, volatility could lead to intraday swings. Traders are advised to avoid fresh longs and adopt a wait-and-watch approach until signs of reversal emerge or volatility cools off. Prashanth Tapse recommends buying these three stocks in the short term - Tata Consumer Products Ltd, Tata Motors Ltd, and Titan Company Ltd. Tata Consumer continues to show relative strength despite overall market weakness. The stock has recently taken support around ₹ 1,060–1,065 and has bounced back with rising volumes. Momentum indicators are favoring bulls, and as long as ₹ 1,040 holds, there is scope for the stock to rally toward ₹ 1,175. Buying on dips near ₹ 1,070–1,075 is advisable. Tata Motors is holding firm near its short-term moving averages and has shown resilience against broader market volatility. The stock has formed a short-term base near ₹ 660 and is attempting to move higher. Momentum remains strong and a move past ₹ 678 could accelerate the rally toward ₹ 700. Ideal for positional traders with risk-managed entries near current levels. Titan remains in a healthy uptrend and has been consolidating near its recent highs. The stock is finding support at ₹ 3,450–3,460 levels and is trading above key moving averages. RSI and MACD are both showing early signs of upward momentum. A close above ₹ 3,500 could lead to a swift move toward ₹ 3,650. Buying on minor dips is advisable with a protective stop at ₹ 3,440. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
11 hours ago
- Business
- Economic Times
Oswal Pumps set to debut today. GMP signals modest listing gain
Oswal Pumps is scheduled to make its debut on the NSE and BSE on Friday after a strong response to its Rs 1,387 crore IPO, which closed on June 17. Market participants are eyeing a listing premium of around Rs 41, going by the latest grey market premium (GMP), which indicates a possible upside of 6–7% over the issue price of Rs 614 per share. ADVERTISEMENT The IPO, which comprised a fresh issue of shares worth Rs 890 crore and an offer for sale of Rs 497.34 crore, was subscribed 34.42 times overall. The Qualified Institutional Buyers (QIBs) portion led the charge with a subscription of 88.08 times, followed by 36.70 times in the NII segment, and 3.60 times in the retail category. Anchor investors had already committed Rs 416.20 crore ahead of the public offering. Analysts remain positive on the company's long-term outlook. Mehta Equities, in its pre-listing note, has advised allotted investors to hold for the long term, citing Oswal's diversified product base across the agriculture, industrial, and domestic water segments, and its potential to benefit from the government's push for rural infrastructure and solar-powered irrigation systems."Despite market volatility, the strong QIB and HNI response reflects confidence in the company's fundamentals," said Prashanth Tapse, Research Analyst at Mehta Equities. He expects a 10–15% listing gain, backed by Oswal's strategic market position and valuation in 2003, Karnal-based Oswal Pumps has executed over 26,000 solar pump installations under government schemes and exports to 17 countries. In the nine months ending December 2024, the company reported a revenue of Rs 1,067 crore and net profit of Rs 216 crore, reflecting robust operational performance. ADVERTISEMENT For investors who missed out on allotment, Mehta Equities suggests looking to accumulate on dips post-listing, especially if broader market weakness weighs on initial performance. (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
