Broker’s call: Doms Ind (Outperform)

Broker’s call: Doms Ind (Outperform)


Target: ₹3,200

CMP: ₹2,500.60

Doms Industries delivered another strong quarter, led by capacity additions in pen, paper products and hobby & craft. We expect its core scholastic stationery business to get a boost from increased capacity in Q1-FY27, which should help accelerate sales growth. The GST rate for pencils, books, etc has moved from 12 per cent to 0 per cent, improving its product affordability and its competitive positioning vs the unorganised segment.

Doms lost 3-4 per cent of sales due to GST disruption in Q2-FY26, which we believe will be largely recovered in H2.

Doms has doubled its sales over FY16-19 and by more than 3x over FY19-25. Its strength has been innovation and end-to-end manufacturing, due to which it is able to offer greater value to its consumers while having attractive margins and ROE.

Doms does not offer credit to its stockists, which indicates strong demand for its products.

Risks (Upside): Faster-than-expected scaling of the pens business; successful entry into large new categories such as toys and bags in which the company has already made small acquisitions; and benefits of scale resulting in stronger-than-expected margin expansion. (Downside): Moderation in revenue growth in categories such as pencils and erasers a opportunities to gain further market share, reduce higher competition in pens and under-utilisation of incremental pens capacity; and muted revenue growth amid large investments for capacity expansion.

Published on November 13, 2025



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PhysicsWallah IPO fully subscribed on final day driven by institutional interest, Emmvee Photovoltaic IPO sees tepid response

PhysicsWallah IPO fully subscribed on final day driven by institutional interest, Emmvee Photovoltaic IPO sees tepid response


Edtech PhysicsWallah Ltd’s initial public offering (IPO) has been fully subscribed today — its final day of bidding — registering an overall subscription of 1.22 times so far.

At 2.27 pm, the qualified institutional buyers (QIB), who showed limited interest in the first two days, subscribed 1.79 times, non-institutional investors (NIIs) at 0.29 times, retail investors at 0.89 times. Employee portion was booked 2.74 times.

The ₹3,480-crore IPO of this Noida-based company fixed the price band of ₹103 to ₹109 per share, with a lot size of 137 shares.

It comprised of a fresh issue of equity shares worth ₹3,100 crore and an offer for sale (OFS) of up to ₹380 crore by the promoters.

Both promoters, Alakh Pandey and Prateek Boob, offload shares worth ₹190 crore through the OFS. At present, both hold 40.31 per cent stake each in the company.

The anchor portion of the issue was also strong, securing ₹Rs 1,563 crore.

Brokerages analysing the PhysicsWallah IPO were broadly cautious yet see potential for long-term investors. Analysts flagged concerns pertaining to profitability, execution challenges, rising competition and high operating costs. Given the grey-market indications and the moderate level of retail enthusiasm, the expected listing pop may be modest. However, the strong institutional backing and brand strength of PhysicsWallah could support a stable debut and provide a base for post-listing growth — especially if the company delivers on its offline expansion, margin improvement and student-acquisition goals.

PhysicsWallah will make its stock market debut on November 18.

Emmvee Photovoltaic Power IPO sees tepid demand

Meanwhile, another mainboard IPO — Emmvee Photovoltaic Power Ltd — has shown a muted subscription trend on its closing day, garnering just 0.56 times the shares on offer.

At 2.42 pm today, the qualified institutional buyers (QIB) portion stood at 0.60 times, the non-institutional investors (NIIs) at 0.23 times, and the retail quota at 0.97 times.

The IPO is priced in the band of ₹206 to ₹217 per share with a lot size of 69 shares. The total issue size is about ₹2,900 crore, consisting of a fresh issue of roughly ₹2,144 crore and an offer for sale (OFS) of around ₹756 crore.

Published on November 13, 2025



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IPO Alert: Fujiyama Power Systems Ltd. IPO में Invest करने से पहले जानें GMP, Price Band| Paisa Live

IPO Alert: Fujiyama Power Systems Ltd. IPO में Invest करने से पहले जानें GMP, Price Band| Paisa Live


आज हम बात करने वाले हैं पावर सिस्टम Fujiyama Power Systems Ltd. IPO 2025 के बारे में एक धमाकेदार IPO जो solar energy sector में जबरदस्त growth दिख रहा है। IPO Size: ₹828 crore Fresh Issue: 2.63 crore shares Offer For Sale: 1 crore shares Issue Open: 13 Nov se 17 Nov 2025 tak Price Band: ₹216 per share 1 Lot = 65 shares Retail Minimum Investment: ₹14,820 HNI / bNII Minimum Investment: ₹10,07,760 Book Running Lead Manager: Motilal Oswal Investment Advisors Ltd. Registrar: MUFG Intime India Pvt. Ltd. Listing Date: 20 Nov 2025 Company Overview: Fujiyama Power Systems Ltd. का start 2017 में हुआ था। यह company rooftop solar industry के लिए productsबनती है जैसे on-grid, off-grid और hybrid solar systems, solar inverters, solar panels, aur PWM chargers. Financial Performance: Revenue: ₹665.33 Cr (FY23) ₹1,550.09 Cr (FY25) Profit After Tax: ₹24.37 Cr ₹156.34 Cr Revenue Growth: 67% PAT Growth: 245% Company के numbers solidहैं और solar sector का future भी bright लग रहा है। इस videoमें हम discuss करेंगे Apply करें या avoid? Company का business model और valuation कैसा है Listing gainsमिल सकते है या long term के लिए better हैं।



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Govt crackdowns on black marketing, hoarding of fertilizers to improve supply

Govt crackdowns on black marketing, hoarding of fertilizers to improve supply


The Department of Fertilizers and the Department of Agriculture and Farmers’ Welfare jointly undertook a comprehensive drive to secure the fertiliser supply chain and ensure adequate supply by conducting raids, inspections on retailers, dealers during last Kharif season and have been continuing the same efforts in the ongoing Rabi sowing season.

The current Rabi season’s (October-March) cumulative demand has been estimated at 378.73 lakh tonnes (lt) — urea 196.05 lt, DAP 53.42 lt, MOP 15.69 lt, complex (combination of nutrients) 82.38 lt and SSP 31.19 lt. On the other hand, the opening stock on October 1 was urea 37.33 lt, DAP 20.07 lt, MOP 7.14 lt, complex 35.59 lt and SSP 22.45 lt.

Working in close coordination with State governments, effective enforcement action on an unprecedented scale including raids, inspections, and legal measures to curb black marketing, hoarding, and diversion of fertilizers has been taken by the district authorities, the government said in a statement Thursday.

“These proactive and strict steps taken by the States ensured timely availability, reinforced market discipline, and upheld the integrity of fertilizer distribution across all regions of the country,” the Department of Fertilizers said adding secretaries of both the Departments held several joint meetings with the States.

A total of 3,17,054 inspections and raids were conducted across the country to monitor the distribution network, resulting in as many as 5,119 show cause notices issued for black marketing. The states have also cancelled/suspended licenses of 3,645 dealers/retailers and registered 418 FIRs since April so far.

The government also said that, out of the total actions, 667 show cause notices, 202 license suspensions/cancellations, and 37 FIRs were issued/registered only for hoarding. Similarly, for diversion towards non-agriculture purpose, 2,991 show cause notices were issued while 451 licenses got either cancelled or suspended, followed by registration of 92 FIRs, under the Fertilizer Control Order, issued by the Agriculture Ministry in accordance with the Commodities Act.

Uttar Pradesh carried out 28,273 inspections, after which 1,957 show cause notices were issued for black marketing, and 2,730 licenses cancelled/suspended as well as 157 FIRs registered.

Bihar, Rajasthan, Maharashtra, Haryana, Punjab, Odisha, Chhattisgarh and Gujarat were among other states which also conducted multiple raids/inspections.

Maharashtra’s campaign witnessed maximum 42,566 inspections/raids and over 1,000 license cancellations for diversion-related violations; Rajasthan conducted 11,253 inspections, Bihar reported 14,000 inspections. “These initiatives prevented artificial shortages and price manipulation during the peak agricultural season,” the government claimed.

There were also 3,544 show cause notices 1,316 license cancellations/suspensions and 60 FIRs with regard to selling of suspected sub-standard fertilizers.

“The Department remains committed to ensuring the availability and integrity of fertilizers and calls on all citizens to remain alert and responsive” it said.

Published on November 13, 2025



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Book bus, metro, local train tickets for just Re 1 using Chennai One App, says TN govt agency

Book bus, metro, local train tickets for just Re 1 using Chennai One App, says TN govt agency


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Chennai Unified Metropolitan Transport Authority (CUMTA) has said that ‘Chennai One,’ the city’s own all-in-one daily commute app, is offering commuters the chance to ride bus, metro and suburban trains for just Re 1 when they pay via BHIM Payments App or Navi UPI.

Chennai Unified Metropolitan Transport Authority (CUMTA) has said that ‘Chennai One,’ the city’s own all-in-one daily commute app, is offering commuters the chance to ride bus, metro and suburban trains for just Re 1 when they pay via BHIM Payments App or Navi UPI.

Launching from November 13, 2025, the limited-period “One Rupee Ticket” campaign invites everyone to try fast, cashless public transport, Member Secretary, I Jeyakumar, CUMTA said in an official release.

CUMTA is the government nodal agency for transport in Chennai and Chennai One, the daily commute app was launched by Chief Minister M K Stalin on September 22, 2025.

“Getting the 1 ticket is simple. Open or download Chennai One, choose your travel destination and complete the payment using BHIM Payments App or Navi UPI app to unlock the Re 1 fare,” the release said.

The offer applies only to tickets successfully used for travel and cannot be combined with other promotions.

The offer can be availed only once per registered Chennai One account across either bus, metro or suburban train tickets during the duration of the campaign.

Users will receive surprise cashbacks on subsequent transactions during the campaign. Full terms are available in the app, the government authority on metropolitan transport said on November 12.

Further, the top official said that the commute app has struck a chord with the people of Chennai.

In month one, Chennai One crossed 5.5 lakh registered users, 14 lakh journey searches and 8.1 lakh tickets booked.

Commuters appreciated the clean design, the ease of a single QR and the comfort of planning, paying and tracking an entire journey across bus, metro, suburban rail, autos and cabs in one app.

“Designed with commuters in mind, Chennai One aligns with the city’s vision of faster, safer and greener mobility for every household in Chennai. Chennai One is transforming how our city moves, and with this Rs 1 fare offer we invite everyone to experience simple, digital- first travel seamlessly across buses, metro and suburban trains. Our goal is to make public transport the natural choice for daily commuting while promoting cashless payments,” said Jeyakumar.

Published on November 13, 2025



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PhonePe partners with OpenAI to bring ChatGPT AI features to Indian users

PhonePe partners with OpenAI to bring ChatGPT AI features to Indian users


Fintech major PhonePe on Thursday said it has partnered with OpenAI to bring ChatGPT features to its users in India.

The collaboration will allow PhonePe users to interact with ChatGPT’s advanced artificial intelligence capabilities directly via the PhonePe consumer app and the PhonePe For Business app, the company said in a statement.

The integration is expected to provide users with smarter, more relevant information for a range of everyday needs, from travel planning to shopping.

“Our collaboration with PhonePe is a significant milestone in our mission to make AI more accessible to people throughout India. India is a global hub for innovation, and PhonePe’s deep understanding of the country’s fabric and its user base make it the ideal partner.

“This partnership will demonstrate the immense value of consumer AI across India, helping millions of users enhance their daily lives,” Oliver Jay, Managing Director for International Strategy at OpenAI, said.

Published on November 13, 2025



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