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PL Capital initiated coverage on the shares of <a href="https://www.moneycontrol.com/ipo/canara-robeco-asset-management-company-ipo-cramcl-ipodetail/">Canara Robeco Asset Management Company</a> with a 'Buy' rating. This comes a day before the shares made their debut on stock markets on October 16.

The domestic brokerage kept a target price of Rs 320 per share for the stock, implying an upside potential of more than 20 percent from the IPO price of Rs 266 apiece.

What PL Capital said:

PL Capital said that it is initiating coverage on the stock with a 'Buy' rating as it is optimistic about its business prospects, given its better equity performance, higher equity share of 90 percent which could lead to higher core earnings, and telescopic pricing which would have a limited impact on equity yields.

"We see healthy core earnings CAGR of 17% over FY25-28E, better than listed peers. Upper band of Rs 266 suggests a value of 19.6x on Sep'27 core EPS (UTIAM: 16.7x, ABSLAMC: 22.7x), indicating 42.5% discount to NAM. We assign 24x multiple to arrive at TP of Rs 320; CRAMC is attractive in the small-cap space. Initiate with 'BUY'," it said.

The domestic brokerage also noted that being a subsidiary of <a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/canarabank/CB06">Canara Bank</a>, the about-to-be-listed AMC firm benefits from the bank’s widespread branch network and retail customer base, facilitating distribution of MF products across the country.

Canara Robeco AMC IPO GMP:

Ahead of listing, the unlisted shares of the company were trading with around 6 percent grey market premium (GMP) over the IPO price, according to data on Investorgain. This is higher than the 4 percent GMP quoted by the site earlier yesterday, but lower than the 13 percent quoted before the IPO opened for public bidding.

According to IPO Watch, the unlisted shares of the company were trading with nearly 4 percent GMP.

Key details about Canara Robeco AMC IPO:

The initial public offering of Canara Robeco saw <a href="https://www.moneycontrol.com/news/business/ipo/canara-robeco-amc-ipo-subscribed-80-on-day-3-so-far-retail-nii-portions-fully-booked-despite-falling-gmp-13612174.html">strong investor interest</a> during its three days of public bidding, being subscribed nearly 10 times (974 percent) between October 9 and October 13 at a price band of Rs 253-266 apiece.

The Rs 1,326-crore IPO entirely comprised an offer for sale (OFS) of nearly 5 crore shares, with no fresh issue component. This means that none of the IPO proceeds will go to the company as they will be received by the selling promoters. Currently, Canara Bank owns 51 percent stake in Canara Robeco while Orix Corporation holding has the remaining stake in the AMC.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Ownership, Material Conflicts of Interest and Disciplinary History

MCD is a wholly owned subsidiary of Network 18 Media & Investments Ltd ("Network18"), in which Independent Media Trust (IMT) holds 56.89% stake. Reliance Industries Limited ("RIL") is the sole beneficiary of IMT. Network18 and RIL and their subsidiaries, joint ventures and associates can be considered as associates of MCD.

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Canara Robeco AMC gets 'buy' call from brokerage ahead of market debut, up to 20% upside seen

PL Capital initiated coverage on the shares of Canara Robeco Asset Management Company with a 'Buy' rating. This comes a day before the shares made their debut on stock markets on October 16.

The domestic brokerage kept a target price of Rs 320 per share for the stock, implying an upside potential of more than 20 percent from the IPO price of Rs 266 apiece.

What PL Capital said:

PL Capital said that it is initiating coverage on the stock with a 'Buy' rating as it is optimistic about its business prospects, given its better equity performance, higher equity share of 90 percent which could lead to higher core earnings, and telescopic pricing which would have a limited impact on equity yields.

&quot;We see healthy core earnings CAGR of 17% over FY25-28E, better than listed peers. Upper band of Rs 266 suggests a value of 19.6x on Sep'27 core EPS (UTIAM: 16.7x, ABSLAMC: 22.7x), indicating 42.5% discount to NAM. We assign 24x multiple to arrive at TP of Rs 320; CRAMC is attractive in the small-cap space. Initiate with 'BUY',&quot; it said.

The domestic brokerage also noted that being a subsidiary of Canara Bank, the about-to-be-listed AMC firm benefits from the bank’s widespread branch network and retail customer base, facilitating distribution of MF products across the country.

Canara Robeco AMC IPO GMP:

Ahead of listing, the unlisted shares of the company were trading with around 6 percent grey market premium (GMP) over the IPO price, according to data on Investorgain. This is higher than the 4 percent GMP quoted by the site earlier yesterday, but lower than the 13 percent quoted before the IPO opened for public bidding.

According to IPO Watch, the unlisted shares of the company were trading with nearly 4 percent GMP.

Key details about Canara Robeco AMC IPO:

The initial public offering of Canara Robeco saw strong investor interest during its three days of public bidding, being subscribed nearly 10 times (974 percent) between October 9 and October 13 at a price band of Rs 253-266 apiece.

The Rs 1,326-crore IPO entirely comprised an offer for sale (OFS) of nearly 5 crore shares, with no fresh issue component. This means that none of the IPO proceeds will go to the company as they will be received by the selling promoters. Currently, Canara Bank owns 51 percent stake in Canara Robeco while Orix Corporation holding has the remaining stake in the AMC.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Shares of defence companies advanced up to 4 percent in Wednesday’s trade following reports that the government is likely to make additional fund allocations for the defence sector in the current financial year.

According to reports, the Centre may provide an additional Rs 40,000–45,000 crore under the capital budget for FY26 to support large defence projects. The government is expected to seek Parliamentary approval for the supplementary grants during the winter session, ET Now reported.

Among individual stocks, <a href="https://www.moneycontrol.com/india/stockpricequote/aerospacedefence/mtartechnologies/MT15">MTAR Technologies</a> gained nearly 3 percent, while BEML, Hindustan Aeronautics Ltd (HAL), Garden Reach Shipbuilders &amp; Engineers and Mazagon Dock Shipbuilders rose up to 4 percent.

<a href="https://www.moneycontrol.com/india/stockpricequote/aerospacedefence/bharatelectronics/BE03">Bharat Electronics</a>, Paras Defence and Space Technologies and Unimech Aerospace and Manufacturing also traded higher.

Out of the 18 constituents of the Nifty Defence index, 15 closed in the green.

The broader optimism in the defence sector was also supported by global cues, including Europe’s plans to step up joint defence production and the United States considering the sale of Tomahawk missiles to Ukraine.

Such developments are seen as boosting defence-related demand globally, which could indirectly benefit Indian defence manufacturers through potential export opportunities and higher order inflows.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

MTAR Tech, BEML, HAL rise up to 4% on report of govt's plan to boost defence spending in FY26

Shares of defence companies advanced up to 4 percent in Wednesday’s trade following reports that the government is likely to make additional fund allocations for the defence sector in the current financial year.

According to reports, the Centre may provide an additional Rs 40,000–45,000 crore under the capital budget for FY26 to support large defence projects. The government is expected to seek Parliamentary approval for the supplementary grants during the winter session, ET Now reported.

Among individual stocks, MTAR Technologies gained nearly 3 percent, while BEML, Hindustan Aeronautics Ltd (HAL), Garden Reach Shipbuilders &amp;amp; Engineers and Mazagon Dock Shipbuilders rose up to 4 percent.

Bharat Electronics, Paras Defence and Space Technologies and Unimech Aerospace and Manufacturing also traded higher.

Out of the 18 constituents of the Nifty Defence index, 15 closed in the green.

The broader optimism in the defence sector was also supported by global cues, including Europe’s plans to step up joint defence production and the United States considering the sale of Tomahawk missiles to Ukraine.

Such developments are seen as boosting defence-related demand globally, which could indirectly benefit Indian defence manufacturers through potential export opportunities and higher order inflows.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

HDFC Asset Management Company on October 15 announced a bonus issue of shares in the ratio of 1:1 for its shareholders. This marks the first bonus issue announced by the asset management company.

Eligible shareholders would receive one bonus share for every share of the company they own, as on record date.

Record date for bonus issue:

<a href="https://www.moneycontrol.com/india/stockpricequote/finance-investments/hdfcassetmanagementcompany/HAM02">HDFC AMC</a> has set November 26 as the record date to determine the eligibility of the shareholders set to receive the bonus issue. This means that bonus shares will be handed over to those shareholders who own shares of the company as on November 26.

What is a bonus issue?

While the issue of bonus shares increases the total number of shares issued and owned, it does not change the market capitalization of the company. This increases the overall liquidity of the stock, and makes it more affordable for other investors to add to their portfolio, creating strong upside potential for the stock.

Bonus issue essentially are free shares offered by a company from its reserves. Such issue is perceived to reflect on a firm's strong financials and growth potential.

HDFC AMC Q2 Results:

Along with the bonus issue, HDFC AMC also released its <a href="https://www.moneycontrol.com/news/business/earnings/hdfc-amc-q2-results-net-profit-rises-25-to-rs-718-crore-firm-announces-1-1-bonus-issue-13617990.html">results for the second quarter of the financial year 2026</a>. The company reported a net profit of Rs 718.43 crore for the second quarter of the financial year 2026. This marks a rise of nearly 25 percent year-on-year (YoY) from the Rs 576.61 crore net profit reported in the same period last year.

The firm’s revenue from operations meanwhile rose around 16 percent YoY to Rs 1,027.40 crore during the quarter under review. It had earlier reported revenue from operations at Rs 887.21 crore in the corresponding quarter of the previous financial year.

HDFC AMC Q2 share price:

After the release of the results, the shares of HDFC AMC jumped more than 3 percent to trade at Rs 5,778 apiece, as seen at 3.10 pm. The stock has jumped around 6 percent in the past five days, and nearly 40 percent in the past six months.

Its P/E ratio currently stands at around 45.97.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-15-10-2025-liveblog-13616468.html">Our LIVE blog on stock market updates</a>

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

HDFC AMC announces its first-ever bonus issue: What it means for shareholders

HDFC Asset Management Company on October 15 announced a bonus issue of shares in the ratio of 1:1 for its shareholders. This marks the first bonus issue announced by the asset management company.

Eligible shareholders would receive one bonus share for every share of the company they own, as on record date.

Record date for bonus issue:

HDFC AMC has set November 26 as the record date to determine the eligibility of the shareholders set to receive the bonus issue. This means that bonus shares will be handed over to those shareholders who own shares of the company as on November 26.

What is a bonus issue?

While the issue of bonus shares increases the total number of shares issued and owned, it does not change the market capitalization of the company. This increases the overall liquidity of the stock, and makes it more affordable for other investors to add to their portfolio, creating strong upside potential for the stock.

Bonus issue essentially are free shares offered by a company from its reserves. Such issue is perceived to reflect on a firm's strong financials and growth potential.

HDFC AMC Q2 Results:

Along with the bonus issue, HDFC AMC also released its results for the second quarter of the financial year 2026. The company reported a net profit of Rs 718.43 crore for the second quarter of the financial year 2026. This marks a rise of nearly 25 percent year-on-year (YoY) from the Rs 576.61 crore net profit reported in the same period last year.

The firm’s revenue from operations meanwhile rose around 16 percent YoY to Rs 1,027.40 crore during the quarter under review. It had earlier reported revenue from operations at Rs 887.21 crore in the corresponding quarter of the previous financial year.

HDFC AMC Q2 share price:

After the release of the results, the shares of HDFC AMC jumped more than 3 percent to trade at Rs 5,778 apiece, as seen at 3.10 pm. The stock has jumped around 6 percent in the past five days, and nearly 40 percent in the past six months.

Its P/E ratio currently stands at around 45.97.

Also read: Our LIVE blog on stock market updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Gold financier stocks jumped in trade on October 15 as gold continued its record bull run, hitting fresh lifetime high levels. Gold futures with December expiry on MCX touched Rs 1,27,731 per 10 grams for the first time ever.

Gold futures with February and April expiries meanwhile hit fresh lifetime highs of Rs 1,28,879 per 10 grams and Rs 1,30,401 per 10 grams, respectively. The yellow metal has seen a massive rally this year so far.

Why are gold financier stocks rising?

The rising gold prices bodes well for gold financiers, as it increases the value of the collateral while issuing loans. This reduces the risk of default, as the collateral becomes more valuable relative to the loan amount issued against it.

<a href="https://www.moneycontrol.com/india/stockpricequote/finance-general/iiflfinance/II15">IIFL Finance</a> shares jumped nearly 5 percent to trade at Rs 508.5 apiece, while <a href="https://www.moneycontrol.com/india/stockpricequote/finance-leasinghire-purchase/manappuramfinance/MGF01">Manappuram Finance</a> shares rose around 2 percent to trade at Rs 289.3 apiece. <a href="https://www.moneycontrol.com/india/stockpricequote/finance-investments/muthootfinance/MF10">Muthoot Finance</a> shares also gained nearly 2 percent to trade at Rs 3,277.5 apiece.

Why gold prices are soaring?

Anticipation of a global downturn, increased trade conflicts between China and US, the US government shutdown, the continuing war between Russia and Ukraine and potential US Federal Reserve actions are all adding fuel to the gold rally fire, said Sandip Raichura, CEO – Retail Broking &amp; Distribution and Director at PL Capital.

"Whether this is a temporary bubble or a longer-term fundamental shift in the international monetary order is difficult to ascertain hence it’s important to keep in mind that corrections may happen at any stage in what could be the start of a historical move in the metal. We continue to advise a 5% allocation at the minimum to the metal even at current prices and believe that unless $3,950 is violated, we are headed towards $4,800 / Oz in the near term. A move below 3950 would violate the near-term bullish view seriously and profit booking may emerge," he added.

Comex Gold extended its rally, gaining nearly 1 percent in the previous session as expectations of a rate cut strengthened following comments from Fed Chair Jerome Powell, who noted that downside risks to employment appear to have increased, said Axis Securities. "His remarks boosted the appeal of precious metals, driving gold prices to a new record high of $4,180 as investors sought safety and ramped up bets on further US monetary easing," it added.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-15-10-2025-liveblog-13616468.html">Our LIVE blog on stock market updates</a>

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

IIFL Finance, Manappuram, other gold financier stocks rise up to 5% as precious metal hits fresh lifetime highs

Gold financier stocks jumped in trade on October 15 as gold continued its record bull run, hitting fresh lifetime high levels. Gold futures with December expiry on MCX touched Rs 1,27,731 per 10 grams for the first time ever.

Gold futures with February and April expiries meanwhile hit fresh lifetime highs of Rs 1,28,879 per 10 grams and Rs 1,30,401 per 10 grams, respectively. The yellow metal has seen a massive rally this year so far.

Why are gold financier stocks rising?

The rising gold prices bodes well for gold financiers, as it increases the value of the collateral while issuing loans. This reduces the risk of default, as the collateral becomes more valuable relative to the loan amount issued against it.

IIFL Finance shares jumped nearly 5 percent to trade at Rs 508.5 apiece, while Manappuram Finance shares rose around 2 percent to trade at Rs 289.3 apiece. Muthoot Finance shares also gained nearly 2 percent to trade at Rs 3,277.5 apiece.

Why gold prices are soaring?

Anticipation of a global downturn, increased trade conflicts between China and US, the US government shutdown, the continuing war between Russia and Ukraine and potential US Federal Reserve actions are all adding fuel to the gold rally fire, said Sandip Raichura, CEO – Retail Broking &amp;amp; Distribution and Director at PL Capital.

&quot;Whether this is a temporary bubble or a longer-term fundamental shift in the international monetary order is difficult to ascertain hence it’s important to keep in mind that corrections may happen at any stage in what could be the start of a historical move in the metal. We continue to advise a 5% allocation at the minimum to the metal even at current prices and believe that unless $3,950 is violated, we are headed towards $4,800 / Oz in the near term. A move below 3950 would violate the near-term bullish view seriously and profit booking may emerge,&quot; he added.

Comex Gold extended its rally, gaining nearly 1 percent in the previous session as expectations of a rate cut strengthened following comments from Fed Chair Jerome Powell, who noted that downside risks to employment appear to have increased, said Axis Securities. &quot;His remarks boosted the appeal of precious metals, driving gold prices to a new record high of $4,180 as investors sought safety and ramped up bets on further US monetary easing,&quot; it added.

Also read: Our LIVE blog on stock market updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/misc-commercial-services/urbancompany/UCL02">Urban Company</a> jumped more than 8 percent on October 15. This comes a day before the one-month shareholder lock-in period comes to an end on October 16.

The shares have now snapped a five-session losing streak.

Urban Company shares: Bumper market debut

Urban Company shares had made a bumper market debut on September 17, listing at a premium of over 57 percent over the IPO price at Rs 162.25 per share on the NSE. The shares gained further to close 64 percent higher than its IPO price on its debut day.

The shares of the app-based beauty and home services platform continued to record strong gains for the next few sessions, rising around 24 percent in three sessions post debut to hit a high of Rs 201.18 per share on September 22. The shares of the company however sharply declined following that, dropping around 26 percent to hit a low of Rs 149.46 apiece on October 14.

At its low, the stock was down around 8 percent from its listing price of Rs 162.25 per share. It was however up more than 45 percent from its IPO price of Rs 103 apiece.

The one-month shareholder lock-in period for the stock comes to an end tomorrow, October 16. As many as 4.15 crore shares of Urban Company, amounting to 3 percent of its outstanding equity, will free up for trade once the shareholder lock-in period ends, CNBC-TV18 quoted Nuvama Alternative &amp; Quantitative Research as saying.

It is important to be noted that the end of the shareholder lock-in period doesn’t mean that these shares will essentially be sold in the open market. This simply implies that the stock will be eligible for trade.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-15-10-2025-liveblog-13616468.html">Our LIVE blog on stock market updates</a>

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Urban Company shares jump 8%, snap five-session losing streak as shareholder lock-in period set to end

The shares of Urban Company jumped more than 8 percent on October 15. This comes a day before the one-month shareholder lock-in period comes to an end on October 16.

The shares have now snapped a five-session losing streak.

Urban Company shares: Bumper market debut

Urban Company shares had made a bumper market debut on September 17, listing at a premium of over 57 percent over the IPO price at Rs 162.25 per share on the NSE. The shares gained further to close 64 percent higher than its IPO price on its debut day.

The shares of the app-based beauty and home services platform continued to record strong gains for the next few sessions, rising around 24 percent in three sessions post debut to hit a high of Rs 201.18 per share on September 22. The shares of the company however sharply declined following that, dropping around 26 percent to hit a low of Rs 149.46 apiece on October 14.

At its low, the stock was down around 8 percent from its listing price of Rs 162.25 per share. It was however up more than 45 percent from its IPO price of Rs 103 apiece.

The one-month shareholder lock-in period for the stock comes to an end tomorrow, October 16. As many as 4.15 crore shares of Urban Company, amounting to 3 percent of its outstanding equity, will free up for trade once the shareholder lock-in period ends, CNBC-TV18 quoted Nuvama Alternative &amp;amp; Quantitative Research as saying.

It is important to be noted that the end of the shareholder lock-in period doesn’t mean that these shares will essentially be sold in the open market. This simply implies that the stock will be eligible for trade.

Also read: Our LIVE blog on stock market updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Solvent Extraction Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Solvent Extraction industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q2 FY25-26

Stock News

Canara Robeco AMC gets 'buy' call from brokerage ahead of market debut, up to 20% upside seen

MTAR Tech, BEML, HAL rise up to 4% on report of govt's plan to boost defence spending in FY26

HDFC AMC announces its first-ever bonus issue: What it means for shareholders

IIFL Finance, Manappuram, other gold financier stocks rise up to 5% as precious metal hits fresh lifetime highs

Urban Company shares jump 8%, snap five-session losing streak as shareholder lock-in period set to end

Solvent Extraction Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Solvent Extraction industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q2 FY25-26

Stock News

Canara Robeco AMC gets 'buy' call from brokerage ahead of market debut, up to 20% upside seen

MTAR Tech, BEML, HAL rise up to 4% on report of govt's plan to boost defence spending in FY26

HDFC AMC announces its first-ever bonus issue: What it means for shareholders

IIFL Finance, Manappuram, other gold financier stocks rise up to 5% as precious metal hits fresh lifetime highs

Urban Company shares jump 8%, snap five-session losing streak as shareholder lock-in period set to end

Solvent Extraction Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Solvent Extraction industry stocks.