Nureca IPO oversubscribed on opening day
- The ₹100 crore IPO got oversubscribed within the first half of the day. Founded in 2016, Nureca sells home healthcare and wellness products such as blood pressure monitors, oximeters and wheelchairs.
- The price band for the issue is set at ₹396-400, with 35 shares per lot. The issue closes on 17 February 2020. Read our blog to know more about the IPO. You can apply to the IPO with Upstox here.
- The public issue of Railtel opens tomorrow.
Clariant chemicals declares dividend after profitable Q3
- Speciality chemical maker Clariant reported a profit of ₹13 crore for Q3, compared to ₹3 crore last year. Its revenues grew 7% YoY to ₹202 crore.
- Its management attributed the strong performance to efforts on working capital, cost control and operational productivity. The company has declared an interim dividend of ₹50 per share which translates to a dividend yield of 11%. Its stock surged 14.7% today.
Deepak Nitrite at record high after strong quarter
- The Vododara-based chemicals maker reported a 9% YoY growth in revenues to ₹1,240 crore supported by strong revenue performance of its specialty chemicals (up 22% YoY) and phenolics (up 40% YoY) businesses. Its net profit surged to ₹217 crore , up 38% YoY.
- The stock hit a new lifetime high following an impressive Q3, gaining 6.4% today. The stock has returned about 160% in the past one year.
Amara Raja’s shares down despite upbeat Q3
- The maker of Amaron batteries reported an 18% YoY rise in net profit, which stood at ₹193 crore in Q3. Its revenues, too, were up 12% to ₹1,960 crore, marginally lower than street expectations of ₹1,983 crore.
- Growth in auto OEM and aftermarket segments supported the rise in revenues. It also witnessed strong growth in the telecom and commercial UPS segments. The company is planning to set up a 50-megawatt solar plant in Andhra Pradesh at a cost of ₹220 crore. Despite the strong performance, the stock witnessed selling pressure and closed about 6% lower.