Jio Financial Services gains on bullish brokerage call

Jio Financial Services gains on bullish brokerage call


Jio Financial Services advanced 1.84% to Rs 240.45 after the domestic broker intiated coverage on the stock with a “buy” call, and set a target price of Rs 320 per share.

The brokerage noted that Jio Financial Services is being architected as India’s next-gen financial services platform aimed to operated across lending, payments, asset management, wealth management and insurance manufacturing and broking, and other digital financial services. It said Jio Financial Services leverages the ecosystem synergies, data, distribution and discipline for scalable finance.

It also said Jio Financial’s core investment thesis centres on its ecosystem-led operating advantage, leveraging Jio’s subscriber base of over 500 million and the extensive retail footprint of the Reliance Group. It said that unlike traditional NBFCs that face high customer acquisition costs, Jio Fin benefits from a lower-cost entry into the daily digital lives of nearly half of India’s population.

 

The brokerage added that while its near-term profitability remains subdued because of the incubation phase of multiple businesses, the groundwork has been laid across technology, partnerships, and distribution positions for the company for scalable growth over the medium to long-term.

The broker has projected Jio Financial Services’ consolidated Profit After Tax (PAT) to grow at a Compounded Annual Growth Rate (CAGR) of 48% over financial year 2026-2028.

Jio Financial Services is a Core Investment Company (CIC), registered with the Reserve Bank of India. JFSL is a new-age institution, which operates a full-stack financial services business through customer-facing entities, including Jio Credit, Jio Insurance Broking, Jio Payment Solutions, Jio Leasing Services, Jio Finance Platform and Service, and Jio Payments Bank.

The company reported 8.8% decline in consolidated net profit to Rs 268.98 crore despite a 105.5% surge in total revenue from operations to Rs 900.90 crore in Q3 FY26 over Q3 FY25.

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XED Executive reschedules  mn GIFT City IPO; here's all you should know

XED Executive reschedules $12 mn GIFT City IPO; here's all you should know



XED Executive Development has postponed the launch of its initial public offering (IPO) to March 16, 2026, citing geopolitical tensions in the Gulf region.

 


The public issue will now close on March 24, 2026. The offering will be the first IPO to be launched from GIFT City, India’s International Financial Services Centre.

 


The company said it decided to defer the IPO from the earlier planned date of March 6 due to the ongoing conflict in the Middle East, which has weighed on investor sentiment and created uncertainty in the markets. It added that the revised schedule has been approved by the authorities at IFSC and the listing exchanges.

 
 


John Kallelil, founder and managing director at XED, said, in view of recent geopolitical developments, the company has adjusted the opening and closing timeline of its maiden IPO through GIFT City. 

 


“We remain confident about the offering and are committed to concluding the process successfully within this month,” he added.


Here are the key details of XED Executive IPO:


XED Executive IPO structure, price band


The total offer size is $12 million (around ₹100 crore), including a fresh issue of $9.6 million and an offer for sale (OFS) of $2.4 million. The company has set the price band at $10-$10.5 per share.

 


The shares will be listed on the NSE International Exchange and the India International Exchange at GIFT City, and will be traded in US dollar-denominated instruments aimed at overseas investors.


XED Executive IPO registrar, lead manager


Kfin Technologies is the registrar for the issue. Global Horizons Capital Advisors (IFSC) is the book-running lead manager of the issue.  


XED Executive IPO objective


According to the RHP, XED plans to utilise the IPO proceeds for technology capital expenditure of $1.8 million, working capital requirements of $2.4 million, and IPO-related expenses of $1.2 million. The company has also earmarked $4.2 million for general corporate purposes and potential acquisitions. Unlike most Indian IPOs, the company has explicitly allocated funds for inorganic expansion.


XED Executive IPO: Who can invest?


The XED Executive Development IPO will not be open to domestic retail investors. Instead, the offering will be available only to qualified global participants under the framework of the International Financial Services Centres Authority (IFSCA). Eligible investors include non-resident Indians (NRIs), foreign portfolio investors (FPIs), institutional investors, and authorised overseas participants. This structure is aligned with GIFT City’s broader objective of attracting global capital and facilitating cross-border investments.



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Jio Financial Services gains on bullish brokerage call

Sedemac Mechatronics makes a solid debut


Shares of Sedemac Mechatronics were currently trading at Rs 1,546 at 10:05 IST on the BSE, representing a premium of 14.35% as compared with the issue price of Rs 1,352.

The stock was listed at Rs 1,510, reflecting a premium of 11.69% to the issue price.

So far, the stock has hit a high of Rs 1,560.25 and a low of Rs 1,504.30. On the BSE, over 0.61 lakh shares of the company were traded in the counter so far.

Sedemac Mechatronics was subscribed 2.68 times. The issue opened for bidding on 04 March 2026 and it closed on 06 March 2026. The price band of the IPO is fixed between Rs 1,287 and 1,352 per share.

 

The issue comprised only an offer for sale of 80,43,300 equity shares (of which 1,12,500 were promoter equity shares, and the balance were offered by investor selling shareholders). The object of the issue was to provide an exit option for ISS by listing the equity shares on the exchange.

Sedemac Mechatronics, promoted by Prof. Shashikanth Suryanarayanan and his team, designs and supplies critical ECUs and motors for vehicles and industrial equipment in India, the US, and Europe. Its key products include ISG ECUs, EFI ECUs, integrated ISG+EFI ECUs, MCUs for EVs, and genset controllers. The company holds approximately 35% of the domestic 2/3W ISG ECU market share, approximately 75% of the share in Indian genset controllers, and approximately 14% of the global share in genset controls. A pioneer in innovation, it introduced SmartIgn, eGov controllers, and SLC-based ISG ECUs, working closely with Tier-I OEMs to integrate proprietary solutions across product lifecycles.

Ahead of the IPO of Sedemac Mechatronics on 2 March 2026, the company raised Rs 325.88 crore from anchor investors by allotting 24.10 lakh shares at Rs 1,352 each to 23 anchor investors.

For the nine months ended 31 December 2025, the firm recorded a consolidated net profit of Rs 71.50 crore and sales of Rs 770.67 crore.

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Gold edges above ,000 as inflation jitters ease; key US data in focus

Gold edges above $5,000 as inflation jitters ease; key US data in focus



Gold edged higher on Wednesday as inflation worries eased, while investors awaited a slew of US economic data this week to gauge ​the Federal Reserve’s policy trajectory.


Spot gold was up 0.3% at $5,208.08 ​per ounce, as of 0243 GMT. US gold futures for April delivery fell ‌0.5% to $5,216.80.


Oil prices dropped below $90 per barrel, cooling inflation concerns, a day after US President Donald Trump predicted a quick end to the war with Iran, while the International Energy Agency proposed the largest ever oil release from strategic reserves, according to a media report.


“With these (inflation) concerns having eased… hedging and safe-haven attributes (of gold) has once again come to the fore. So, I think from current levels we remain optimistic,” said Nikos Kavalis, Singapore managing director of Metals Focus.

 


The US and Israel pounded Iran with what the Pentagon and the Iranians on the ground called the most ‌intense airstrikes of the war, despite global markets betting that Trump will seek to end the conflict soon.


The war has effectively shut the Strait of Hormuz, a chokepoint for a fifth of global oil and liquefied natural gas, stranding tankers for more than a week and forcing producers to halt output as storage fills, driving energy prices soaring.


The US military “eliminated” 16 Iranian mine-laying vessels near the Strait of Hormuz on Tuesday, the ​US Central Command said in a statement.


Bullion, traditionally viewed as a safe-haven asset, has risen more than ‌20% so far this year, notching successive record highs amid heightened geopolitical and economic uncertainty.


“I think it’s very likely that we’ll see gold get to over $6,000 ​an ounce ‌by the third or fourth quarter this year, probably even higher early next year,” Kavalis said.


Markets ‌are now awaiting the US consumer price index for February, due later in the day, and the Personal Consumption Expenditures (PCE) index – the Fed’s preferred inflation gauge – on Friday.


Investors ‌expect ​the Fed to ​keep rates steady at the end of its two-day meeting on March 18, per CME Group’s FedWatch tool. 


Spot silver edged 0.1% lower to $88.35 per ounce. ‌Spot platinum lost 0.5% ​to $2,190.44, while palladium rose 0.8% to $1,667.73.


 



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Jio Financial Services gains on bullish brokerage call

Waaree Renewable bags 300 MW solar EPC project


Waaree Renewable Technologies said that it has signed a contract to execute engineering, procurement and construction (EPC) works for a ground-mounted solar photovoltaic (PV) plant with a capacity of 300 MWac/420 MWp.

The company stated that the project is expected to be completed in the financial year 202728, as per the terms of the order.

Waaree Renewable Technologies (WRTL) is a subsidiary company of the Waaree Group and is spearheading the Solar EPC business. We are also a solar developer that finances, constructs, owns, and operates solar projects. Headquartered in Mumbai, we operate across geographies, focusing on long-term investments within the commercial and industrial customer segments.

 

The companys consolidated net profit surged 124.74% to Rs 120.19 crore in Q3 FY26 as against Rs 53.48 crore in Q3 FY25. Revenue from operations zoomed 136.18% year on year (YoY) to Rs 851.06 crore in Q3 FY26 over Q3 FY25.

Shares of Waaree Renewable Technologies rose 0.54% to close at Rs 798.35 on the BSE.

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Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Mar 11 2026 | 8:04 AM IST



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Stocks to Watch today: Infosys, Adani Enterprises, IndiGo, Waaree Energies

Stocks to Watch today: Infosys, Adani Enterprises, IndiGo, Waaree Energies



Stocks to Watch today, Wednesday, March 11, 2026: GIFT Nifty futures indicate a lacklustre start for benchmark Indian equity indices amidst mixed global cues on Wednesday. The futures were quoted at 24,337, trading 59 points lower from the previous close at 07:50 AM.

 


Asian markets traded mostly higher on Wednesday as investors evaluated developments in the ongoing Middle East conflict. Japan’s Nikkei 225 rose 1.36 per cent, South Korea’s Kospi advanced 2.52 per cent, and Australia’s S&P/ASX 200 gained 0.35 per cent.

 


Overnight in the United States, Wall Street’s major indexes ended on a mixed note. The broader S&P 500 slipped 0.21 per cent in choppy trading as oil prices eased and traders monitored the situation surrounding Iran. The Dow Jones Industrial Average edged down 0.07 per cent, while the tech-heavy Nasdaq Composite managed a modest gain of 0.01 per cent.

 


Meanwhile, here are some of the top stocks to watch during today’s session:

 


Infosys: The IT services major has informed exchanges about a new strategic collaboration with Incora to expand the use of artificial intelligence across the latter’s global supply chain operations. Under the multi-year alliance, Incora — a provider of supply chain solutions for the aerospace and defence industry — will work with Infosys to deploy AI-enabled capabilities supporting operations across more than 60 countries.

 

InterGlobe Aviation: IndiGo CEO Pieter Elbers has resigned with immediate effect, citing personal reasons. The airline said Rahul Bhatia, managing director of parent company InterGlobe Aviation, will assume interim charge following Elbers’ departure.

 


Adani Enterprises: The Gautam Adani-led company said its subsidiary Adani Road Transport has completed the acquisition of the remaining 49 per cent equity stake in D P Jain TOT Toll Roads, along with 100 per cent optionally convertible redeemable preference shares. Following the transaction, DPJ TOT has become a wholly owned subsidiary of Adani Road Transport.

 


TVS Supply Chain Solutions: The company has informed exchanges that it has strengthened the global supply chain operations of Caterpillar India Pvt Ltd by establishing a 40,000 sq. ft. warehouse at a Free Trade and Warehousing Zone (FTWZ) in Mannur, about 30 km from Chennai. The facility will support multi-country sourcing of components and streamline global parts procurement for Caterpillar’s manufacturing operations.

 


Clean Max Enviro Energy Solutions: The company executed a Share Purchase Agreement on March 10, 2026, with Clean Max Andes Private Limited and Web Werks India Private Limited.

 


HG Infra Engineering:  The company has secured an order worth ₹401.33 crore from Anuppur Thermal Energy (MP) Private Ltd for a railway infrastructure project in Madhya Pradesh. The contract includes civil works such as earthwork, bridges and station buildings, along with P-way works for developing railway infrastructure at the 2×800 MW thermal power project in Anuppur.

 


3i Infotech:  The company has received an order dated March 9, 2026, from an Indian engineering and industrial solutions firm specialising in power and industrial equipment. The mandate involves providing managed IT services across multiple locations.

 


Waaree Renewable Technologies: The company has signed a contract to execute engineering, procurement and construction (EPC) works for a ground-mounted solar PV plant with a capacity of 300 MWac / 420 MWp. The project is scheduled for completion during FY2027–28.

 


Hindustan Zinc: The company has signed a memorandum of understanding with CMR Green Technologies Ltd to establish a manufacturing facility at Zinc Park in Rajasthan. The plant will produce low-emission zinc alloys for sectors including automotive, infrastructure, die-casting and consumer goods, and is expected to enhance downstream zinc value addition while promoting sustainable metal processing.

 


Waaree Energies:  The company said its wholly owned subsidiary, Waaree Solar Americas Inc., has entered into a share subscription agreement with United Solar Holdings Inc. to subscribe to about 5.37 million Series B preferred shares for approximately $30 million. The company added that the transaction is not a related-party deal and that none of its promoters or group entities have any interest in it.

 


Bank of Baroda: The public sector lender has kept its one-year marginal cost of funds-based lending rate (MCLR) unchanged, effective March 12.

 


UCO Bank: The public sector lender has kept its one-year marginal cost of funds-based lending rate (MCLR) unchanged with effect from March 10.

 


Aditya Birla Capital: The company said it has invested ₹749.99 crore in equity shares of its wholly owned subsidiary, Aditya Birla Housing Finance, through a rights issue.

 


Brigade Enterprises: The company has announced its entry into the industrial real estate segment with the launch of Brigade Industrial Park, a 25-acre development located in Devanahalli in North Bengaluru.



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