In today’s briefing:
- Quiddity Leaderboard NIFTY Mar 25: Four Changes Likely for NIFTY Next 50 + Hyundai Motor India IPO
- Swiggy Pre-IPO – The Positives -Fast and Diversified Growth
- The Beat Ideas: Vishnu Chemicals- Niche Business with High Growth Levers
- Sanathan Textiles IPO- Forensic Analysis
- Shiva Pharmachem Pre-IPO – High Borrowings Along with Expansion Plans Leading to Liquidity Concerns
Quiddity Leaderboard NIFTY Mar 25: Four Changes Likely for NIFTY Next 50 + Hyundai Motor India IPO
- NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.
- In this insight, we take a look at the names leading the race to become ADDs/DELs for these indices in the March 2025 index rebal event.
- There are no changes for NIFTY 50 but there could be four changes for NIFTY Next 50 according to current rankings.
Swiggy Pre-IPO – The Positives -Fast and Diversified Growth
- Swiggy Limited is planning to raise around US$1.25bn through its upcoming India IPO.
- Swiggy Limited (Swiggy) is a business to commerce (B2C) marketplace company offering users a platform for ordering grocery and household items (Instamart) and food delivery, through its on-demand delivery network.
- In this note, we talk about the positive aspects of the deal.
The Beat Ideas: Vishnu Chemicals- Niche Business with High Growth Levers
- Vishnu Chemicals (VCL IN) is now backward integrated with the soda ash, CO2 Gas plant and ore requirement to overcome the challenge of raw material price volatility.
- Company operated in niche & specialty chemical segment and will launch detailed capex plan in Q2 for forward integration.
- Management aims to consolidate EBITDA margins around 17.5%-18% by year-end, with a target of achieving consistent margins at 20% over the next 2-3 years.
Sanathan Textiles IPO- Forensic Analysis
- Sanathan Textiles (0907479D IN) plans to re-appear for its IPO. The company is into yarn manufacturing and has a presence in all three, Polyester, Cotton and Technical Textiles segments.
- Revenue growth did light up in FY22, however topline growth has pretty much been stale since then. Moreover, margins have also been on a sliding trajectory.
- Key forensic takeaways include capitalising of expenses on the back of falling margins, acquisition of a non-operating subsidiary from promoters, secondary income sources driving profits, etc.
Shiva Pharmachem Pre-IPO – High Borrowings Along with Expansion Plans Leading to Liquidity Concerns
- Shiva Pharmachem Limited (9155347Z IN) is looking to raise around US$110m in its India IPO.
- It is a manufacturer in the Indian specialty chemicals business and was the largest manufacturer of acid and alkyl chlorides by volume in CY22 in India, as per Frost&Sullivan .
- In this note, we talk about the company’s historical performance.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
