In today’s briefing:
- Hyundai Motor India: Trading Strategy on the First Day of Trading
- Waaree Energies IPO Update- Forensic Analysis
- Namaste India 🙏 | Earnings Editions Are Back
Hyundai Motor India: Trading Strategy on the First Day of Trading
- Hyundai Motor India (1342Z IN) shares start trading on 22 October. The IPO price is 1,960 INR.
- Although there has been some solid interest on this IPO among many institutional investors, there have been a lower interest among retail investors.
- There has also been relatively low grey market premium. If the share price reaches in the positive upper single digits, we expect many traders to sell into this short-term rally.
Waaree Energies IPO Update- Forensic Analysis
- Waaree Energies (0656504D IN) awaited IPO is about to open on October 21. The IPO comprises of fresh issue worth INR 36 bn and OFS worth INR 7.2 bn.
- This insight is an update to the previous note on the company Waaree Energies IPO- Forensic Analysis , on the forensics front.
- The company still faces some of the forensic setbacks we found in the DRHP. These include capital purchases from related parties, heated receivables, bizarre lease accounting, unpaid dues, etc.
Namaste India 🙏 | Earnings Editions Are Back
- Over the next couple of weeks, we will focus on highlighting key earnings and what catches our attention in the conference calls
- Top Large Cap Bullish Ideas include HDFC Asset Management Co Ltd (HDFCAMC IN), Bajaj Auto Ltd (BJAUT IN) & Pvr Inox (PVRINOX IN).
- D.B. Corp Ltd (DBCL IN), IndiaMart (INMART IN) & Gopal Snacks (GOPAL IN) are names that we have a bearish view on.
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