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Shares of Graphite India and Epigral came under pressure on Monday after the companies reported weak earnings for the quarter ended September 30, 2025, while Krsnaa Diagnostics rose on strong results.

<a href="https://www.moneycontrol.com/india/stockpricequote/electrodesgraphite/graphiteindia/GI13">Graphite India</a> settled 7.23 percent lower at Rs 535.50 on the NSE after the company posted a 60.5 percent decline in consolidated net profit to Rs 77 crore for the September quarter, compared with Rs 195 crore in the year-ago period. The fall in profit was attributed to lower electrode prices and weaker operating margins.

<a href="https://www.moneycontrol.com/india/stockpricequote/speciality-chemicals/epigral/MF23">Epigral</a> shares closed 7.65 percent down at Rs 1,522 apiece after the chemical manufacturer reported a 37 percent year-on-year drop in net profit to Rs 51.2 crore from Rs 81.3 crore. Revenue from operations slipped 6.2 percent to Rs 587.3 crore from Rs 626 crore a year earlier.

Krsnaa Diagnostics shares advanced 8 percent to close at Rs 781.50 on the NSE after the company reported a 22 percent rise in net profit to Rs 23.94 crore for the September quarter.

According to data compiled by LSEG, the stock has a “Buy” rating on average from three analysts, with a median price target of Rs 1,127. Around 5.66 lakh shares changed hands on the exchange, sharply higher than the 30-day average volume of 71,926 shares. Year-to-date, the stock is down 7.5 percent.

(Reuters Inputs) 

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.

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Q2 results impact: Graphite India, Epigral shares decline up to 7% on weak earnings, Krsnaa Diagnostics rises 8%

Shares of Graphite India and Epigral came under pressure on Monday after the companies reported weak earnings for the quarter ended September 30, 2025, while Krsnaa Diagnostics rose on strong results.

Graphite India settled 7.23 percent lower at Rs 535.50 on the NSE after the company posted a 60.5 percent decline in consolidated net profit to Rs 77 crore for the September quarter, compared with Rs 195 crore in the year-ago period. The fall in profit was attributed to lower electrode prices and weaker operating margins.

Epigral shares closed 7.65 percent down at Rs 1,522 apiece after the chemical manufacturer reported a 37 percent year-on-year drop in net profit to Rs 51.2 crore from Rs 81.3 crore. Revenue from operations slipped 6.2 percent to Rs 587.3 crore from Rs 626 crore a year earlier.

Krsnaa Diagnostics shares advanced 8 percent to close at Rs 781.50 on the NSE after the company reported a 22 percent rise in net profit to Rs 23.94 crore for the September quarter.

According to data compiled by LSEG, the stock has a “Buy” rating on average from three analysts, with a median price target of Rs 1,127. Around 5.66 lakh shares changed hands on the exchange, sharply higher than the 30-day average volume of 71,926 shares. Year-to-date, the stock is down 7.5 percent.

(Reuters Inputs) 

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 IT stocks jumped in trade on November 10, pushing the Nifty IT index up nearly 2 percent to emerge as the top sectoral gainer on the market today. The index has now snapped a six-session losing streak.

The Nifty IT index stood at 35,760.60, as seen at 1.30 pm as investors resorted to value-buying after sharp correction during the losing streak. The investor sentiment was further boosted by hopes for a nearing end to the ongoing US government shutdown.

Value-buying:

The <a href="https://www.moneycontrol.com/indian-indices/nifty-it-19.html">Nifty IT index</a> dropped nearly 2.7 percent while recording sharp losses from October 30 to November 7. This came after the index surged more than 7 percent earlier in October as better-than-expected Q2 results and positive outlook for the second half of the ongoing financial year boosted investor sentiment.

This came despite delays to US-India trade deal negotiations

Hopes of nearing end to US government shutdown:

The US Senate on November 9 moved ahead with a measure aimed at reopening the federal government and <a href="https://www.moneycontrol.com/world/senate-nears-deal-to-end-record-us-government-shutdown-article-13662236.html">ending a now 40-day-long shutdown</a>. In a procedural vote, senators advanced a House-passed bill that will be amended to fund the government until January 30 and include a package of three full-year appropriations bills.

If the Senate passed the amended measure, it will be sent for approval by the House of Representatives and then to President Donald Trump for his signature. “It looks like we’re getting very close to the shutdown ending,” Trump told reporters at the White House.

As part of the shutdown, many government services have been suspended and hundreds of thousands of federal employees have been ordered not to work.

"A possible end to the longest running U.S. shutdown is a positive for markets. Our expectation is that the next step is for a House vote on Wednesday, with the government set to re-open this Friday," said Prashant Newnaha, senior Asia-Pacific rates strategist at TD Securities.

Indian IT companies derive a major portion of their revenue from the US market. The potential end to the US shutdown in America may have boosted investor confidence for these stocks.

Jefferies in September chose TCS and Infosys as its top picks about the largecap IT stocks. It noted that both are “well placed” to deal with the $100K visa fell for the Indian IT sector.

Among the midcap stocks, Jefferies prefers Coforge.

Top IT gainers today:

<a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/infosys/IT">Infosys</a> shares were the top gainer on the Nifty IT index, rising nearly 3 percent to trade at Rs 1,519.70 apiece. <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/hcltechnologies/HCL02">HCL Tech</a>, LTI Mindtree, <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/wipro/W">Wipro</a> and Mphasis shares meanwhile gained nearly 2 percent each.

Persistent Systems, Tata Consultancy Services (<a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/tataconsultancyservices/TCS">TCS</a>), Coforge and <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/techmahindra/TM4">Tech Mahindra</a> shares rose over 1 percent each.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-10-11-2025-liveblog-13662226.html">Our LIVE blog on stock market updates</a>

(With inputs from Reuters)

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.

IT index rises nearly 2%, snaps 6-day losses on hopes of end to US govt shutdown; Infosys, HCLTech rise up to 3%

The shares of IT stocks jumped in trade on November 10, pushing the Nifty IT index up nearly 2 percent to emerge as the top sectoral gainer on the market today. The index has now snapped a six-session losing streak.

The Nifty IT index stood at 35,760.60, as seen at 1.30 pm as investors resorted to value-buying after sharp correction during the losing streak. The investor sentiment was further boosted by hopes for a nearing end to the ongoing US government shutdown.

Value-buying:

The Nifty IT index dropped nearly 2.7 percent while recording sharp losses from October 30 to November 7. This came after the index surged more than 7 percent earlier in October as better-than-expected Q2 results and positive outlook for the second half of the ongoing financial year boosted investor sentiment.

This came despite delays to US-India trade deal negotiations

Hopes of nearing end to US government shutdown:

The US Senate on November 9 moved ahead with a measure aimed at reopening the federal government and ending a now 40-day-long shutdown. In a procedural vote, senators advanced a House-passed bill that will be amended to fund the government until January 30 and include a package of three full-year appropriations bills.

If the Senate passed the amended measure, it will be sent for approval by the House of Representatives and then to President Donald Trump for his signature. “It looks like we’re getting very close to the shutdown ending,” Trump told reporters at the White House.

As part of the shutdown, many government services have been suspended and hundreds of thousands of federal employees have been ordered not to work.

&quot;A possible end to the longest running U.S. shutdown is a positive for markets. Our expectation is that the next step is for a House vote on Wednesday, with the government set to re-open this Friday,&quot; said Prashant Newnaha, senior Asia-Pacific rates strategist at TD Securities.

Indian IT companies derive a major portion of their revenue from the US market. The potential end to the US shutdown in America may have boosted investor confidence for these stocks.

Jefferies in September chose TCS and Infosys as its top picks about the largecap IT stocks. It noted that both are “well placed” to deal with the $100K visa fell for the Indian IT sector.

Among the midcap stocks, Jefferies prefers Coforge.

Top IT gainers today:

Infosys shares were the top gainer on the Nifty IT index, rising nearly 3 percent to trade at Rs 1,519.70 apiece. HCL Tech, LTI Mindtree, Wipro and Mphasis shares meanwhile gained nearly 2 percent each.

Persistent Systems, Tata Consultancy Services (TCS), Coforge and Tech Mahindra shares rose over 1 percent each.

Also read: Our LIVE blog on stock market updates

(With inputs from Reuters)

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 National Aluminium Company (NALCO) and Torrent Pharmaceuticals recorded sharp gains on November 10 after their respective Q2 results announcements boosted investor confidence. Transformers and Rectifiers (TARIL) shares however tanked 20 percent to hit the lower circuit at Rs 313.55 apiece.

NALCO shares surged nearly 9 percent to trade at Rs 254.98 apiece, the highest level seen by the stock in 11 months. Torrent Pharmaceuticals jumped around 7 percent to hit a fresh 52-week high of Rs 3,830 apiece.

NALCO Q2 Results:

<a href="https://www.moneycontrol.com/india/stockpricequote/aluminium/nationalaluminiumcompany/NAC">NALCO</a> on November 7 reported a consolidated net profit of Rs 1,430 crore for Q2 FY26. This marks a 37% YoY rise from the Rs 1,046 crore net profit reported in Q2 FY25. The firm's revenue from operations meanwhile rose more than 7 percent YoY to Rs 4,292 crore.

Along with the Q2 results, the company also announced the first interim dividend of Rs 4 per equity share for the financial year 2026. The company has fixed November 14 as the record date to determine the eligibility of the shareholders set to receive the payment. The payment of the interim dividend shall be made on or before December 6 to all eligible shareholders, whose names appear in the Register of Members as on record date.

Torrent Pharma Q2 Results:

<a href="https://www.moneycontrol.com/india/stockpricequote/pharmaceuticals/torrentpharmaceuticals/TP06">Torrent Pharma</a> on November 7 reported a net profit of Rs 591 crore for Q2 FY26, marking a 30.5 percent YoY rise from the Rs 453 crore net profit reported in the corresponding quarter of the previous financial year. The firm’s revenue from operations meanwhile rose over 14 percent YoY to Rs 3,302 crore.

Jefferies kept a ‘Buy’ call on the stock, with a target price of Rs 4,300 per share. This implies an upside potential of more than 20 percent from the stock’s previous closing price.

The international brokerage said that the firm’s September quarter earnings beat estimates, driven by stronger US and Brazil sales. It added that Indian market continued to see market-beating growth while supply disruptions cause decline in Germany’s CC growth.

Jefferies raised its FY26–28 EBITDA estimates for Torrent Pharma by 3 percent

Nuvama also kept a ‘Buy’ call on the stock, with a target price of Rs 4,180 apiece. This implies an upside potential of more than 20 percent from the stock’s previous closing price.

The international brokerage said that the firm’s revenue and EBITDA beat consensus estimate by 3 percent each. EBITDA margin of 32.8 percent was in line with forecast.

Transformers and Rectifiers (India) Q2 Results:

<a href="https://www.moneycontrol.com/india/stockpricequote/power-transmissionequipment/transformersrectifiersindia/TRI">Transformers and Rectifiers (India)</a> on November 8 reported a consolidated net profit of Rs 33.91 crore for Q2 FY26, marking a 25 percent YoY decrease from the Rs 45.25 crore net profit reported in the same quarter of the previous financial year.

The firm’s revenue from operations meanwhile saw marginal decline to Rs 460 crore during the July-September quarter of the ongoing financial year. EBITDA stood at Rs 65 crore, while EBITDA margin reduced to 13.81 percent.

Additionally, World Bank has debarred the company from participating in its financed projects over alleged corruption and fraud related to a $486 million Nigeria power grid project.

Also read: <a href="https://www.moneycontrol.com/news/business/earnings/q2-results-2025-live-updates-bajaj-finance-ongc-vodafone-idea-reliance-power-hudco-ather-energy-kec-international-quarterly-earnings-today-10-november-2025-liveblog-13663325.html">Our LIVE blog on Q2 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.

Q2 Results impact: NALCO, Torrent Pharma shares jump up to 9%, Transformers and Rectifiers hits 20% lower circuit

The shares of National Aluminium Company (NALCO) and Torrent Pharmaceuticals recorded sharp gains on November 10 after their respective Q2 results announcements boosted investor confidence. Transformers and Rectifiers (TARIL) shares however tanked 20 percent to hit the lower circuit at Rs 313.55 apiece.

NALCO shares surged nearly 9 percent to trade at Rs 254.98 apiece, the highest level seen by the stock in 11 months. Torrent Pharmaceuticals jumped around 7 percent to hit a fresh 52-week high of Rs 3,830 apiece.

NALCO Q2 Results:

NALCO on November 7 reported a consolidated net profit of Rs 1,430 crore for Q2 FY26. This marks a 37% YoY rise from the Rs 1,046 crore net profit reported in Q2 FY25. The firm's revenue from operations meanwhile rose more than 7 percent YoY to Rs 4,292 crore.

Along with the Q2 results, the company also announced the first interim dividend of Rs 4 per equity share for the financial year 2026. The company has fixed November 14 as the record date to determine the eligibility of the shareholders set to receive the payment. The payment of the interim dividend shall be made on or before December 6 to all eligible shareholders, whose names appear in the Register of Members as on record date.

Torrent Pharma Q2 Results:

Torrent Pharma on November 7 reported a net profit of Rs 591 crore for Q2 FY26, marking a 30.5 percent YoY rise from the Rs 453 crore net profit reported in the corresponding quarter of the previous financial year. The firm’s revenue from operations meanwhile rose over 14 percent YoY to Rs 3,302 crore.

Jefferies kept a ‘Buy’ call on the stock, with a target price of Rs 4,300 per share. This implies an upside potential of more than 20 percent from the stock’s previous closing price.

The international brokerage said that the firm’s September quarter earnings beat estimates, driven by stronger US and Brazil sales. It added that Indian market continued to see market-beating growth while supply disruptions cause decline in Germany’s CC growth.

Jefferies raised its FY26–28 EBITDA estimates for Torrent Pharma by 3 percent

Nuvama also kept a ‘Buy’ call on the stock, with a target price of Rs 4,180 apiece. This implies an upside potential of more than 20 percent from the stock’s previous closing price.

The international brokerage said that the firm’s revenue and EBITDA beat consensus estimate by 3 percent each. EBITDA margin of 32.8 percent was in line with forecast.

Transformers and Rectifiers (India) Q2 Results:

Transformers and Rectifiers (India) on November 8 reported a consolidated net profit of Rs 33.91 crore for Q2 FY26, marking a 25 percent YoY decrease from the Rs 45.25 crore net profit reported in the same quarter of the previous financial year.

The firm’s revenue from operations meanwhile saw marginal decline to Rs 460 crore during the July-September quarter of the ongoing financial year. EBITDA stood at Rs 65 crore, while EBITDA margin reduced to 13.81 percent.

Additionally, World Bank has debarred the company from participating in its financed projects over alleged corruption and fraud related to a $486 million Nigeria power grid project.

Also read: Our LIVE blog on Q2 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 year 2025 has turned out to be a blockbuster for India’s primary market, with over 90 initial public offerings (IPOs) raising a record Rs 1.5 lakh crore so far. However, despite the strong inflow of capital, most listings have failed to impress investors, with many debuting flat or in the red. A handful of IPOs did see healthy premiums, but the overall listing performance remained subdued compared to the buoyant debut rallies of 2024.

Here’s a look at the top 10 worst-performing IPOs of 2025, many of which have continued to decline post-listing.

Glottis Ltd: Glottis Ltd’s IPO turned out to be the worst performer of 2025. The stock listed at nearly 35 percent below its issue price of Rs 129 per share and has since slumped further, now trading about 45 percent lower. The company, which raised Rs 300 crore through its October issue, had seen moderate demand with a subscription of 2 times. Glottis provides multi-modal integrated logistics solutions across ocean, air and road segments. For FY25, the firm reported a profit of Rs 56.1 crore, up 81.4 percent from Rs 31 crore last year, while revenue surged 89.3 percent to Rs 941.2 crore.

Gem Aromatics: The second-worst performer, Gem Aromatics, made a flat debut in August with just a 2 percent gain but has since fallen around 35 percent below its issue price of Rs 325 per share. The Rs 450-crore issue was oversubscribed 30 times. The company manufactures speciality ingredients, including essential oils and aroma chemicals, used in oral care, cosmetics, nutraceuticals, pharmaceuticals and personal care. In FY25, its revenue rose 11.4 percent to Rs 503.95 crore, while profit grew 6.5 percent to Rs 53.38 crore.

Om Freight Forwarders: The logistics firm saw a rough debut, listing at a 33 percent discount to its issue price of Rs 129. The Rs 122.31-crore IPO was subscribed 3.86 times. The company offers third-party logistics services, including freight forwarding, customs clearance, warehousing and multimodal transportation. It reported a net profit of Rs 21.99 crore on revenue of Rs 494.05 crore in FY25.

BMW Ventures Ltd: BMW Ventures’ Rs 232-crore IPO listed 29 percent below its issue price of Rs 99 and now trades 33 percent lower. Subscribed 1.5 times, the company is involved in the trading and distribution of steel products, tractor engines and PVC pipes. It reported revenue of Rs 2,062 crore in FY25, up 6 percent year-on-year, with net profit rising 10 percent to Rs 32.8 crore.

VMS TMT Ltd: The manufacturer of thermo-mechanically treated bars debuted just 4 percent below its issue price of Rs 99 but now trades more than 32 percent lower. The Ahmedabad-based firm reported revenue of Rs 872.96 crore in FY24 compared to Rs 770.19 crore in FY25, with profit rising to Rs 14.74 crore from Rs 13.47 crore.

Jaro Institute of Technology: The education technology firm’s IPO, priced at Rs 890 a share, listed 16 percent lower and has since declined about 30 percent. The Rs 450-crore issue in September saw a strong 22 times subscription. Jaro Institute offers over 260 higher education and management programs through 36 partner institutions, including IITs, IIMs and global schools. For FY25, it reported a profit of Rs 52 crore on revenue of Rs 252.3 crore, up from Rs 38 crore on Rs 199 crore a year earlier.

Dev Accelerator Ltd: Known for its coworking spaces under the brand DevX, the company’s stock listed with a 5 percent premium but has since dropped 27 percent below its issue price of Rs 61. The Rs 144-crore IPO was subscribed 64 times. For FY25, total income rose 61 percent to Rs 179 crore, while net profit increased to Rs 1.74 crore from Rs 0.43 crore in FY24.

Laxmi Dental Ltd: Laxmi Dental’s IPO, which was among the most subscribed of 2025 at 114 times, debuted at a 28 percent premium in January but has since erased gains and now trades 27 percent below its issue price of Rs 428. The Rs 700-crore issue funded expansion of its six dental manufacturing facilities across India. The company reported revenue growth from Rs 140 crore in FY22 to Rs 240 crore in FY25, with net profit rising to Rs 262 crore.

Arisinfra Solutions: The Rs 500-crore IPO of Arisinfra Solutions debuted at a 21 percent discount to its issue price of Rs 222 and remains down 26 percent. The issue, subscribed 2.3 times, was launched in June. The company operates a B2B platform for procurement of construction materials. For the nine months ended FY25, revenue stood at Rs 546.52 crore against Rs 696.84 crore in FY24, while net profit came in at Rs 6.52 crore compared to a loss of Rs 17.29 crore earlier.

Capital Infra Trust: Closing the list is Capital Infra Trust, which listed flat in January and now trades more than 21 percent below its issue price of Rs 99. The Rs 1,578-crore InvIT, sponsored by Gawar Construction, focuses on road and highway infrastructure assets. The trust reported a consolidated net loss of Rs 73.72 crore in Q1 FY26, compared to a loss of Rs 37.31 crore in the previous quarter, even as revenue rose to Rs 188.69 crore from Rs 159.06 crore.

IPO Frenzy Fizzles: Top 10 debuts that disappointed investors in 2025

The year 2025 has turned out to be a blockbuster for India’s primary market, with over 90 initial public offerings (IPOs) raising a record Rs 1.5 lakh crore so far. However, despite the strong inflow of capital, most listings have failed to impress investors, with many debuting flat or in the red. A handful of IPOs did see healthy premiums, but the overall listing performance remained subdued compared to the buoyant debut rallies of 2024.

Here’s a look at the top 10 worst-performing IPOs of 2025, many of which have continued to decline post-listing.

Glottis Ltd: Glottis Ltd’s IPO turned out to be the worst performer of 2025. The stock listed at nearly 35 percent below its issue price of Rs 129 per share and has since slumped further, now trading about 45 percent lower. The company, which raised Rs 300 crore through its October issue, had seen moderate demand with a subscription of 2 times. Glottis provides multi-modal integrated logistics solutions across ocean, air and road segments. For FY25, the firm reported a profit of Rs 56.1 crore, up 81.4 percent from Rs 31 crore last year, while revenue surged 89.3 percent to Rs 941.2 crore.

Gem Aromatics: The second-worst performer, Gem Aromatics, made a flat debut in August with just a 2 percent gain but has since fallen around 35 percent below its issue price of Rs 325 per share. The Rs 450-crore issue was oversubscribed 30 times. The company manufactures speciality ingredients, including essential oils and aroma chemicals, used in oral care, cosmetics, nutraceuticals, pharmaceuticals and personal care. In FY25, its revenue rose 11.4 percent to Rs 503.95 crore, while profit grew 6.5 percent to Rs 53.38 crore.

Om Freight Forwarders: The logistics firm saw a rough debut, listing at a 33 percent discount to its issue price of Rs 129. The Rs 122.31-crore IPO was subscribed 3.86 times. The company offers third-party logistics services, including freight forwarding, customs clearance, warehousing and multimodal transportation. It reported a net profit of Rs 21.99 crore on revenue of Rs 494.05 crore in FY25.

BMW Ventures Ltd: BMW Ventures’ Rs 232-crore IPO listed 29 percent below its issue price of Rs 99 and now trades 33 percent lower. Subscribed 1.5 times, the company is involved in the trading and distribution of steel products, tractor engines and PVC pipes. It reported revenue of Rs 2,062 crore in FY25, up 6 percent year-on-year, with net profit rising 10 percent to Rs 32.8 crore.

VMS TMT Ltd: The manufacturer of thermo-mechanically treated bars debuted just 4 percent below its issue price of Rs 99 but now trades more than 32 percent lower. The Ahmedabad-based firm reported revenue of Rs 872.96 crore in FY24 compared to Rs 770.19 crore in FY25, with profit rising to Rs 14.74 crore from Rs 13.47 crore.

Jaro Institute of Technology: The education technology firm’s IPO, priced at Rs 890 a share, listed 16 percent lower and has since declined about 30 percent. The Rs 450-crore issue in September saw a strong 22 times subscription. Jaro Institute offers over 260 higher education and management programs through 36 partner institutions, including IITs, IIMs and global schools. For FY25, it reported a profit of Rs 52 crore on revenue of Rs 252.3 crore, up from Rs 38 crore on Rs 199 crore a year earlier.

Dev Accelerator Ltd: Known for its coworking spaces under the brand DevX, the company’s stock listed with a 5 percent premium but has since dropped 27 percent below its issue price of Rs 61. The Rs 144-crore IPO was subscribed 64 times. For FY25, total income rose 61 percent to Rs 179 crore, while net profit increased to Rs 1.74 crore from Rs 0.43 crore in FY24.

Laxmi Dental Ltd: Laxmi Dental’s IPO, which was among the most subscribed of 2025 at 114 times, debuted at a 28 percent premium in January but has since erased gains and now trades 27 percent below its issue price of Rs 428. The Rs 700-crore issue funded expansion of its six dental manufacturing facilities across India. The company reported revenue growth from Rs 140 crore in FY22 to Rs 240 crore in FY25, with net profit rising to Rs 262 crore.

Arisinfra Solutions: The Rs 500-crore IPO of Arisinfra Solutions debuted at a 21 percent discount to its issue price of Rs 222 and remains down 26 percent. The issue, subscribed 2.3 times, was launched in June. The company operates a B2B platform for procurement of construction materials. For the nine months ended FY25, revenue stood at Rs 546.52 crore against Rs 696.84 crore in FY24, while net profit came in at Rs 6.52 crore compared to a loss of Rs 17.29 crore earlier.

Capital Infra Trust: Closing the list is Capital Infra Trust, which listed flat in January and now trades more than 21 percent below its issue price of Rs 99. The Rs 1,578-crore InvIT, sponsored by Gawar Construction, focuses on road and highway infrastructure assets. The trust reported a consolidated net loss of Rs 73.72 crore in Q1 FY26, compared to a loss of Rs 37.31 crore in the previous quarter, even as revenue rose to Rs 188.69 crore from Rs 159.06 crore.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/retailing/lenskartsolutions/LSL">Lenskart</a> jumped more than 16 percent intraday after listing at a discount on stock exchanges on November 10. The sharp volatility comes after the Rs 7,278-crore IPO saw strong investor interest during its three days of public bidding, being subscribed more than 28 times its offer size.

The shares of the company had listed at a discount of nearly 3 percent over its IPO price at Rs 390 apiece on BSE. The shares then had dropped nearly 9 percent to hit an intraday low of Rs 355.7 apiece so far.

The stock however sharply recovered later, jumping over 16 percent from that level to hit an intraday high of Rs 413.80 apiece, crossing the IPO price of Rs 402 apiece.

Lenskart shares pared some gains later to close at Rs 403.30 apiece, marking a 0.3 percent rise over the IPO price. The stock's market capitalisation at the end of the debut day stood at Rs 69,967 crore.

Ambit Capital on Lenskart:

Ambit Capital had issued a 'Sell' call on Lenskart shares, even before the stock made its much-anticipated <a href="https://www.moneycontrol.com/news/business/ipo/lenskart-share-price-stock-lists-at-3pc-discount-to-ipo-price-should-you-buy-sell-or-hold-13662822.html">market debut</a>. This is a rare occasion when a brokerage issued a ‘Sell’ call on a stock even before it hit the stock markets.

The brokerage kept a target price of Rs 337 apiece for the shares of the popular eyewear-retailer, implying a downside potential of nearly 14 percent from the stock’s listing price of Rs 390 apiece. Notably, the target price is more than 16 percent lower than its IPO price.

According to the brokerage note cited by NDTV Profit, Ambit Capital said that Lenskart’s made-to-order model is capex-heavy, which keeps returns muted. It expects FCF turning positive only in FY28E.

What other analysts say:

"Lenskart looks good from a business model perspective, but at the right valuation which is much lower than the current levels," said Ambareesh Baliga, an independent market analyst. "The (weak) listing shows the importance of looking at the valuation and not to go blindly by grey market premium or oversubscription to apply for an IPO," Baliga said.

Baliga added that this sort of listing, especially after strong subscription, could affect retail investor participation in upcoming IPOs.

Investors allotted shares may consider holding for the medium to long term, supported by earnings visibility and expanding store footprint, with a stop loss around Rs 350 and short-term traders may exit the position and look for better opportunities elsewhere, said Shivani Nyati, Head of Wealth at Swastika Investmart.

Despite a strong subscription of nearly 28 times, the listing fell short of the euphoria seen in other consumer-tech IPOs, underscoring valuation fatigue and a cooling grey-market premium in the days before debut, said Harshal Dasani, Business Head, INVasset PMS.

"At current levels, valuations remain stretched, with the stock trading at a steep multiple relative to both domestic and global peers. Near-term earnings visibility is limited as Lenskart continues to invest heavily in expansion, marketing, and technology integration. Given the combination of rich pricing and moderate listing sentiment, it may be prudent for investors to book profits where available and await more attractive entry points once fundamentals catch up," he said.

"While the company’s long-term story — built around market leadership, omnichannel distribution, and brand strength — remains intact, the short-term setup looks unconvincing. The market’s initial reaction highlights a growing investor preference for profitability and cash flow stability over high-growth narratives. For now, sentiment favors caution rather than conviction," he added.

Lenskart has listed at a discount and expect it to be range bound with negative bias, said Shravan Shetty, Managing Director at Primus Partners. The next stock specific trigger could be the earnings, he added, explaining that they would need to surprise on the upside for stock to justify its valuation.

Lenskart IPO GMP:

The discount listing came despite despite the unlisted shares trading with slight grey market premium (GMP), ahead of listing. The unlisted shares were trading with around 2.5 percent GMP over the IPO price at Rs 412 apiece in the grey market, according to data on Investorgain.

Notably, the GMP quoted by the site has significantly fallen from the 24 percent quoted on the IPO opened for public bidding (October 31), and 27 percent quoted earlier during that month.

Follow all IPO news <a href="https://www.moneycontrol.com/ipo/">here</a>.

About Lenskart IPO:

Lenskart had launched its IPO to raise Rs 7,278 crore through a fresh issue of shares worth Rs 2,150 crore, and an offer for sale of 12.75 crore shares. At a price band of Rs 382-402 per share, the company seeks a valuation of around Rs 70,000 crore.

Investors could bid for a minimum of 37 shares, requiring an investment of Rs 14,874, and in multiples thereafter.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-10-11-2025-liveblog-13662226.html">Our LIVE blog on stock market updates</a>

(With inputs from Reuters)

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.

Lenskart shares jump 16% intraday after weak market debut: Should you buy, sell or hold?

The shares of Lenskart jumped more than 16 percent intraday after listing at a discount on stock exchanges on November 10. The sharp volatility comes after the Rs 7,278-crore IPO saw strong investor interest during its three days of public bidding, being subscribed more than 28 times its offer size.

The shares of the company had listed at a discount of nearly 3 percent over its IPO price at Rs 390 apiece on BSE. The shares then had dropped nearly 9 percent to hit an intraday low of Rs 355.7 apiece so far.

The stock however sharply recovered later, jumping over 16 percent from that level to hit an intraday high of Rs 413.80 apiece, crossing the IPO price of Rs 402 apiece.

Lenskart shares pared some gains later to close at Rs 403.30 apiece, marking a 0.3 percent rise over the IPO price. The stock's market capitalisation at the end of the debut day stood at Rs 69,967 crore.

Ambit Capital on Lenskart:

Ambit Capital had issued a 'Sell' call on Lenskart shares, even before the stock made its much-anticipated market debut. This is a rare occasion when a brokerage issued a ‘Sell’ call on a stock even before it hit the stock markets.

The brokerage kept a target price of Rs 337 apiece for the shares of the popular eyewear-retailer, implying a downside potential of nearly 14 percent from the stock’s listing price of Rs 390 apiece. Notably, the target price is more than 16 percent lower than its IPO price.

According to the brokerage note cited by NDTV Profit, Ambit Capital said that Lenskart’s made-to-order model is capex-heavy, which keeps returns muted. It expects FCF turning positive only in FY28E.

What other analysts say:

&quot;Lenskart looks good from a business model perspective, but at the right valuation which is much lower than the current levels,&quot; said Ambareesh Baliga, an independent market analyst. &quot;The (weak) listing shows the importance of looking at the valuation and not to go blindly by grey market premium or oversubscription to apply for an IPO,&quot; Baliga said.

Baliga added that this sort of listing, especially after strong subscription, could affect retail investor participation in upcoming IPOs.

Investors allotted shares may consider holding for the medium to long term, supported by earnings visibility and expanding store footprint, with a stop loss around Rs 350 and short-term traders may exit the position and look for better opportunities elsewhere, said Shivani Nyati, Head of Wealth at Swastika Investmart.

Despite a strong subscription of nearly 28 times, the listing fell short of the euphoria seen in other consumer-tech IPOs, underscoring valuation fatigue and a cooling grey-market premium in the days before debut, said Harshal Dasani, Business Head, INVasset PMS.

&quot;At current levels, valuations remain stretched, with the stock trading at a steep multiple relative to both domestic and global peers. Near-term earnings visibility is limited as Lenskart continues to invest heavily in expansion, marketing, and technology integration. Given the combination of rich pricing and moderate listing sentiment, it may be prudent for investors to book profits where available and await more attractive entry points once fundamentals catch up,&quot; he said.

&quot;While the company’s long-term story — built around market leadership, omnichannel distribution, and brand strength — remains intact, the short-term setup looks unconvincing. The market’s initial reaction highlights a growing investor preference for profitability and cash flow stability over high-growth narratives. For now, sentiment favors caution rather than conviction,&quot; he added.

Lenskart has listed at a discount and expect it to be range bound with negative bias, said Shravan Shetty, Managing Director at Primus Partners. The next stock specific trigger could be the earnings, he added, explaining that they would need to surprise on the upside for stock to justify its valuation.

Lenskart IPO GMP:

The discount listing came despite despite the unlisted shares trading with slight grey market premium (GMP), ahead of listing. The unlisted shares were trading with around 2.5 percent GMP over the IPO price at Rs 412 apiece in the grey market, according to data on Investorgain.

Notably, the GMP quoted by the site has significantly fallen from the 24 percent quoted on the IPO opened for public bidding (October 31), and 27 percent quoted earlier during that month.

Follow all IPO news here.

About Lenskart IPO:

Lenskart had launched its IPO to raise Rs 7,278 crore through a fresh issue of shares worth Rs 2,150 crore, and an offer for sale of 12.75 crore shares. At a price band of Rs 382-402 per share, the company seeks a valuation of around Rs 70,000 crore.

Investors could bid for a minimum of 37 shares, requiring an investment of Rs 14,874, and in multiples thereafter.

Also read: Our LIVE blog on stock market updates

(With inputs from Reuters)

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.

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