Three companies – Tata Technologies, Gandhar Oil and FedBank Financial are set to enter the stock exchanges today. As per gray market trends, Tata Technologies appears to be the leading performing company in the current market.IPO Excitement.
It is important to remember that gray market premiums serve as indicators of company shares in the unlisted market and can fluctuate rapidly. However, given the current GMP trends and potential demand for the shares post listing, the stock is expected to potentially double the IPO price on the first day, reports ET.
Tata Technologies IPO listing: What analysts say
Analysts are bullish on the company’s immediate performance. With strong investor interest and a strong company profile, Tata Technologies appears poised for success stock market debutShivani Nyati, head of wealth at Swastik Investmart, believes this.
Prashant Tapse of Mehta Equities says that given the investor demand and investor-friendly pricing coupled with the Tata Group legacy, significant listing gains of 75%+ can be expected.
Apart from potential listing gains, analysts also view the company favorably in the long term.
Nyati emphasized that Tata Technologies’ global presence and expertise in engineering solutions has positioned it as a preferred partner for multinational corporations across all industries. Nyati says its diverse customer base, efficient distribution network and focus on innovation strengthen its competitive edge.
About Tata Technologies IPO
The Rs 3,042-crore Tata Technologies IPO received bids worth more than Rs 1.5 lakh crore, overall subscription of nearly 70 times the available shares.
The retail individual investors (RII) category was subscribed 16 times, qualified institutional buyers 203 times and NIIs 62 times.
Analysts said the IPO attracted significant attention due to attractive valuations, strong brand value of Tata Group and comparative valuation metrics with peers.
Tata Technologies KPIT stands out with a favorable FY23 PE ratio compared to peers like L&T Technology Services and Tata Elxsi. The company has shown good financial growth in FY 2011-23.
Focused primarily on pure-play manufacturing-focused engineering research and development, Tata Technologies is associated with top spenders in the automotive and new energy sectors.
The company’s total income rose 35% to Rs 2,587 crore and net profit rose 36% to Rs 352 crore in the six-month period ended September.
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