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The stock traded at a P/E multiple of 11.9, while the price-to-book value ratio stood at 1.25.

Taking a public company private allows for changes and growth goals to be achieved more easily without the pressure of meeting quarterly expectations from analysts, according to a recent report. Private companies have longer-term decision making, as they are far from the gaze of public investors, who are often accused of being short-term oriented. An over-communication between management and the analyst community can also steer expectations and risk sacrificing longer-term decision-making. Many companies refuse to provide public guidance or insights, instead choosing to focus on long-term planning.

​We are progressing well with various interested investors and we will obviously share it with you as and when we conclude these investment transactions.

As of 31-Mar-2023, promoters held 0.0 per cent stake in the company, while FIIs held 22.39 per cent and domestic institutional investors had 16.55 per cent.

Shares of budget airline SpiceJet rose by nearly 9% on the Bombay Stock Exchange following the announcement that the carrier was targeting the return of four of its grounded aircraft by 15 June. SpiceJet has revealed that it will relaunch its grounded fleet using its own internal cash and a $50m allocation from the Indian government’s Emergency Credit Line Guarantee Scheme. The airline has also announced improved route coverage and held an anniversary offer event to promote these new services.

A total of 1,325 shares changed hands on the counter till 02:14PM (IST).

On a consolidated level, PAT fell 37% YoY to Rs 2,411 crore, while revenue jumped 5% YoY to Rs 55,857 crore. The Board has also recommended a dividend of Rs 3 per equity share for the year ended March 2023.

The brokerage expects PI’s revenue/EBITDA/PAT to post a strong CAGR of 20%/19%/19% over FY2023-FY2025E, led by robust CSM order book of $1.8 billion and ramp-up of nine new products commercialised in the last one year. Growth would further improve post integration of TRM and Archimica’s acquisition.

Midsized companies outperformed on the Indian stock market, with Nifty MidCap 100 and Nifty MidCap 150 indices reaching their 52-week highs. The indices were buoyed by firms including Deepak Nitrite, Dixon Technologies and Laurus Labs. Delhivery and Gland Pharma suffered significant losses, plunging 68% during the past year. Meanwhile, CG Power and Industrial Solutions enjoyed multibagger returns of 103% over the same period.

Prashant Jain of 3P Investment Managers in an interview with ETNow shared his views on Indian equity markets