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OrbiMed-backed Laxmi Dental raised over Rs 314 crore from anchor investors before its IPO for public subscription. The anchor round included domestic mutual funds, insurance companies, and foreign entities. The IPO consists of a fresh issue of shares worth Rs 138 crore and an OFS by promoters and existing shareholders worth Rs 560 crore.
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CLSA has initiated coverage on Hyundai Motor India with an 'Outperform' rating and a target price of Rs 2,155, citing strong growth prospects amid strategic expansion. The firm notes the company's promising outlook with new capacity additions planned and competitive advantages, despite recent stock underperformance.
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Indian markets ended the week negatively. Rising crude oil prices and a stronger US dollar affected the market. The Sensex closed at 77,378.91, down by 241.30 points. The Nifty 50 index also declined by 95.00 points to 23,431.50. Investors are keeping a close eye on the Q3 earnings season.
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