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The oil marketing company said its consolidated net profit for the quarter ended March stood at Rs 6,645.72 crore, down 26.37 per cent from Rs 9,026.49 crore in the same quarter last year.

Ahead of the IPO, the company garnered Rs 141.69 crore from nine anchor investors. The company informed the exchanges that it has allocated 16,13,725 shares at Rs 878 per share on Tuesday, May 17, 2022, to anchor investors.

The company has reserved 50 per cent of the net offer for qualified institutional buyers (QIBs), whereas non-institutional buyers (NIIs) will get 15 per cent allocation. The remaining 35 per cent shares will be given to the retail bidders.

“It is tough to be overly bullish at this point in time. The risks are more skewed to the downside in the short term. The structural long-term India story still remains intact. Probably the capex cycle will kick off in earnest in the next six to 12 months. Overall, the longer term story is still good but in terms of absolute valuation and relative valuations, we are not there yet.”

The small-cap stock with a market capitalisation of nearly Rs 1,300 crore hit a 52-week high of Rs 1,850 earlier on May 9. The stock has been taking support near the Rs 1,645 levels in May.

As of 31-Mar-2022, promoters held 0.22 per cent stake in the company, while FIIs held 47.86 per cent and domestic institutional investors had 15.44 per cent.

A total of 21,989 shares changed hands on the counter till 12:48PM (IST).

​Airtel saw a healthy 9% QoQ consolidated EBITDA growth driven by strong ~10% tariff-led ARPU improvement of India Mobile with a healthy 64% incremental EBITDA margin. It has witnessed 36% EBITDA CAGR over the last two years.

Majority of the brokerage houses are negative on the issue and have suggested investors to avoid it citing rich valuations and volatile financial performance. However, those who are positive, are suggesting it as a long term play only.

Dodla Dairy, incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 3013.31 crore) operating in FMCG sector.