Catch up on the latest market updates! SH Kelkar sees strong Q3 demand and stays on track for double-digit growth despite margin pressures. Info Edge reports 15.8% YoY billing growth, driven by recruitment and real estate. NSECO wins a ₹75 crore project for Wayside Amenities on Bengaluru-Chennai Expressway, with projected revenue of ₹350 crore from Year 4. Caplin Point’s Tamil Nadu facility gets US FDA clearance with zero observations, and Ashoka Buildcon signs a ₹1,391 crore road project with NHAI.
SH Kelkar faced pressure on its gross margins during the October-December quarter, primarily due to supply constraints of key raw materials. The company further expects this margin pressure to continue through to Q4.
Kotak sees a long runway for growth for SHK, given its established and sticky relationships in the growing Indian market.
Motilal Oswal is bullish on SH Kelkar has recommended buy rating on the stock with a target price of Rs 90 in its research report dated May 27, 2020.
Ashwani Gujral of ashwanigujral.com recommends buying TV Today, UltraTech Cement and Tata Steel.
Out of the 22 companies that have launched their IPOs this fiscal beginning April 1, 2015, 12 are still trading above the price at which they had issued shares to the public investors.
Daljeet Singh Kohli, Head of Research at India Nivesh Securities feels that Camlin Fine Sciences may test Rs 136 in next one year.
There's hope for a large part of corporate India. IndiGo's stellar take-off has cleared the skies for larger and more diversified IPOs.
Shares of Fragrance maker SH Kelkar & Company have opened at Rs 216 on the National Stock Exchange, up 20 percent over its issue price of Rs 180. It touched an intraday high of Rs 225.05, up 25 percent.
It is worth noting here that the company‘s three plants are relatively new and its current capacity utilization is only 36% which is projected to gradually increase to 70% in the next five years. Nevertheless, medium term looks uncertain for the scrip due to many factors.
The company has three manufacturing plants in India in Raigad, Vapi and Mulund in Mumbai and one more in the Netherlands.
Ajcon Global recommends subscribe to the issue. It is betting on Kelkar being largest domestic producer of fragrance, market leadership position, significant share in domestic market, major beneficiary of increasing demand from FMCG companies specifically present in personal care, packaged foods & dairy products.
Fragrance maker S H Kelkar is expected to hit the capital market on October 28 to raise Rs 500 crore through its initial public offer (IPO).