In today’s briefing:
- JM Financial: An Undervalued Gem Poised for Breakout Growth
- P N Gadgil Jewellers IPO Trading- Decent Anchor, Strong Insti Demand
- Max Healthcare (MAXHEALTH IN): Continues to Strengthen Presence in North India
- Sagility India Pre-IPO – Healthcare-Tech Exposure Although Alarming Concentration Risks to Watch For
JM Financial: An Undervalued Gem Poised for Breakout Growth
- JM Financial has decadal experience of being the powerhouse of financial services giant.
- The company has been a bad capital allocator for the years and hence could not participate in the mega bull run.
- What makes it interesting is a company is changing its strategy of capital allocation while cherry on the cake is attractive valuations and promoter buying.
P N Gadgil Jewellers IPO Trading- Decent Anchor, Strong Insti Demand
- P N Gadgil Jewellers (1742652D IN) raised around US$130m in its India IPO.
- It is an Indian organized jewellery player with product offerings which include traditional as well as modern and functional jewellery designs, in gold, diamond, silver and platinum.
- In our previous notes, we looked at the company’s past performance and valuation. In this note, we talk about trading dynamics.
Max Healthcare (MAXHEALTH IN): Continues to Strengthen Presence in North India
- Max Healthcare Institute (MAXHEALT IN) to acquire controlling stake in Jaypee Healthcare (JHL), which owns 3 hospitals in Uttar Pradesh, including the renowned 500-beds Jaypee Hospital, Noida.
- JHL reported revenue of INR4.21B and EBITDA of INR70M in FY24. With an EV of INR16.6B, the deal values JHL at EV/EBITDA of 23.7x, which seems reasonable.
- This acquisition will significantly enhance Max Healthcare’s network and strengthen its leadership position in NCR, a region which is home to around 46M people.
Sagility India Pre-IPO – Healthcare-Tech Exposure Although Alarming Concentration Risks to Watch For
- Sagility India (2058883D IN) is looking to raise US$500m in its upcoming India IPO.
- Sagility India is a pure-play healthcare focused solutions and services provider to Payers and Providers.
- In this note, we look at the firm’s past performance.
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