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“The group is huge in size and scale with Rs 10,000 crore plus revenues and Rs 40 crore PAT. It is a large group and getting listed is ultimately the vision for most of the companies because it does give you visibility. All these are consumption brands. It gets them visibility in terms of the shareholders, consumers.”

“The Indian market is obnoxiously overvalued relative to the world. Indian market valuations are more than 120% premium to emerging market index. It is tough for this to sustain. Whatever story you build out, caution has to be exercised and people need to keep some cash so that one is ready to buy in a sudden selloff.”

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. Retail bidders will get the remaining 35 per cent allocation.

The company’s initial public offering comprises an offer for the sale of 4 crore equity shares by the promoters and existing investors.The offer for sale comprises up to 1 crore shares by promoter Juneja family, up to 2 crore shares by Capital International, up to 99.65 lakh by Beige, and up to 50,000 equity shares by Link Investment Trust.

Shares of Sampre Nutrients have zoomed as much as 565 per cent in the last one year, whereas the counter is up by 240 per cent on a year-to-date basis. Sampre, in association with Micro Nutrient Initiatives Canada, has developed vitaminized nutri-candy which has proven therapeutic effects of improving haemoglobin levels.

The Rs 600 crore expansion project will take the company’s Ductile Iron Pipe plant capacity to over 4 lakh tonnes per annum in two phases.The Tata Group company in a release said this new facility is among the state-of-the-art DI Pipe plants with high levels of automation and robotics to make the operations safe and efficient.

"In light of coming out of the post pandemic era fuel price increases, we have gone ahead and through a very thoughtful process of hearing from drivers and consumers, have deployed a bunch of technology solutions to fix the problem of drivers refusing rides. We are already seeing some good progress. We are making sure that the drivers get compensated in case they have long pickups which was a big concern and why they were cherry picking certain trips."

For the quarter ended June 30, 2022, the company has reported a consolidated total income of Rs 44202.32 Crore, up 0.55 % from last quarter Total Income of Rs 43960.45 crore and up 13.53 % from last year same quarter Total Income of Rs 38933.63 Crore.

Following the announcement, shares of Patanjali Foods, which was earlier known as Ruchi Soya and eventually re-branded following the acquisition by Baba Ramdev-led Patanjali Ayurved, were trading 0.6 per cent higher at Rs 1,351 at 1 pm. The stock has rallied nearly 60 per cent year-to-date.

“Multiplexes are dependent on good content.We saw a few movies flop. So the stock sold off but directionally. But such selloffs give opportunities. I believe the next few years should be good for them. The PE selling of some stocks has been happening on a regular basis. We saw that in insurance companies, in Devyani International.”