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EquityPandit

EquityPandit
MARKETS

Airbnb Inc Files for IPO

The San Francisco-based company, Airbnb Inc. said the company had emerged out from the effects of the coronavirus pandemic and now, it is filing to go public after a long-awaited period and investors could put their shares on the market without waiting for a lock-up period for their investments.
On Wednesday, Airbnb in a statement said that the company has submitted its filing for an Initial Public Offering (IPO) confidentially to the US Securities and Exchange Commission. Brian Cheeky, Chief Executive Officer of Airbnb had initiated the listing process with the Securities and Exchange Commission (SEC) back on March, 31. Before the flights were closed by the imposition of Lockdown around countries due to the Covid-19 pandemic and after that, plans were put on the hold for the signs of recovery by moving it ahead.
The company has recorded signs of recovery in the month of June, with only 30% of the booking that it has done in the same month previous year. In the second quarter, the company’s revenue fell by 67% to $335 million compared to more than $1 billion reported in the same period last year. According to Bloomberg’s report, the company has a steep decline in sales by $842 million in its first quarter. The company has reported an adjusted loss of $341 million in its first-quarter which was $292 million a year back.
The company remains to be one of the most highly anticipated stock listings of the current fiscal year. The price range and size for the offering is yet not decided by the company and said its IPO would take place after its complete review by SEC.

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MARKETS

Dee Development Shares Rally 4% on Receiving Rs 55 Crore Order 

Ali Waghbakriwala

Shares of Dee Development Engineers Ltd rallied 4% on 4 April after the company announced securing an order worth Rs 55 crore. 

In its regulatory filing, the company said, “We would like to inform you that the company has bagged a purchase order from a new customer, the name of which cannot be disclosed due to commercial issue.”

The scope of the order entails supplying pre-fabricated carbon, alloy and stainless-steel piping items for a thermal power station, which has to be executed in a period of 7-12 months. 

Dee Development Engineers made a stellar entry into the stock market on 26 June 2024, with its shares listing at Rs 339 on the National Stock Exchange (NSE), which is a notable 67% jump over the issue price of Rs 203.

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Established in 1988, the company is a specialised engineering firm offering end-to-end process piping solutions to sectors like oil and gas, power (including nuclear), chemicals, and other process industries. Its services span engineering, procurement, and manufacturing.

Dee Development Engineers produces and delivers a wide array of piping products, including high-pressure piping systems, piping spools, high-frequency induction pipe bends, longitudinally submerged arc welding pipes, industrial fittings, pressure vessels, stacks, modular skids, and custom-built components like boiler superheater coils and de-superheaters.

At 11:37 pm, the shares of Dee Development shed all their early gains and were trading 0.83% lower at Rs 253.05 on NSE.

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MARKETS

Stocks Under F&O Ban: 

Ali Waghbakriwala

Under the futures and options (F&O) segment, no stocks were banned from trade on Friday, 4 April, by the National Stock Exchange (NSE). 

Derivative contracts of these stocks were banned as the open market interest for these securities has crossed 95% of the market-wide position limit (MWPL) set by the exchanges. The MWPL is the maximum number of contracts that can be opened at any particular time.

The ban will be lifted once the position falls below 80%. Traders will get penalised for buying or selling these securities. They will be available for trading in the cash market. 

The National Stock Exchange updates the list of securities on the F&O ban list daily. This list serves as a guide for traders and investors in the market. Traders who trade in indices do not encounter a situation of security ban.

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MARKETS

Stocks in Focus: UltraTech Cement, Paras Defence, Mazagon Dock, and Others

Ali Waghbakriwala

The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 98.45 points lower at 23,228, indicating that the domestic benchmark indices are likely to make a negative start on Friday.

On Thursday, 3 April, Domestic benchmark indices S&P BSE Sensex slumped by 322.08 points or 0.42% and settled at 76,295.36 while the Nifty50 traded 0.35% lower by 82.25 points, settling at 23,250.10.

Here are some stocks that are likely to remain in focus on 4 April.

UltraTech Cement: The Board of Directors of the company has approved acquiring 6.42 crore shares of Wonder WallCare for Rs 235 crore. The company has signed a Share Purchase Agreement with Kushal Sogani and Wonder Cement for a 100% stake in Wonder WallCare, making it a wholly-owned subsidiary of the company. 

Paras Defence: The company has announced the signing of a Memorandum of Understanding (MoU) with MicroCon Vision, an Israel-based company that is part of Controp and the Rafael Group. This agreement will set the company as the exclusive supplier of advanced drone camera technology in India for a much lower cost. 

Mazagon Dock: The Government of India has announced its plans to sell a 4.83% stake in the company through an offer-for-sale at a floor price of Rs 2,525 per share. 

GR Infraprojects: The Arbitral Tribunal has issued its decision regarding the arbitration case linked to the road project in Bihar, ruling that the company is entitled to receive Rs 106.4 crore from the Government of Bihar. Additionally, the company will earn interest at a rate of 12% per annum on this amount from the date of the award until the payment is fully received.

Alivus Life Sciences: The company’s API manufacturing facility in Ankleshwar, Gujarat, was inspected by the US Food and Drug Administration (USFDA) from 27 January to 31 January 2025. The US regulator concluded the inspection by issuing an Establishment Inspection Report with a Voluntary Action Indicated status for the facility. 

Balaji Amines: The company has announced the commencement of a 6 MW AC solar power plant that will be operational in a phased manner under grid connectivity. The power from the 6 MW AC solar power plant will be used for captive consumption. 

Thermax: The company has announced signing a Share Purchase Agreement (SPA) with Infinite Uptime Inc., USA, for divesting its stake in Covacsis Technologies for a total consideration of Rs 10 crore 

Ami Organics: The has announced the commissioning of its 10.8 megawatt DC solar power plant as part of its solar facility in Pratapnagar, Gujarat.

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MARKETS

E2E Networks Shares Rally 4% on Deploying Nvidia H200 Clusters

Ali Waghbakriwala

Shares of E2E Networks Ltd rallied 4% on 3 April E2E Could announce the deployment of India’s largest NVIDIA H200 GPU infrastructure in Delhi-NCR and Chennai.

In its regulatory filing, the company said, “With two state-of-the-art clusters strategically located in Delhi NCR and Chennai, each boasting 1,024 NVIDIA H200 GPUs, E2E Cloud is empowering India to lead the global AI revolution.”

The NVIDIA H200 GPUs deliver exceptional performance, making them highly sought after for training and fine-tuning large-scale AI models such as DeepSeek and other advanced language models, according to E2E Networks. 

These GPUs boast a total of 288.8 TB of GPU RAM and 2.4× higher memory bandwidth (4.8 TB/s), ensuring they can efficiently handle memory-intensive workloads with superior computational power.

Tarun Dua, Managing Director of E2E Cloud, said that E2E Cloud has made a significant investment in deploying India’s largest NVIDIA H200 GPU cluster, reinforcing its commitment to building the country’s most advanced AI infrastructure. Strategically placed in Delhi NCR and Chennai, these clusters are seamlessly integrated with the TIR AI/ML Platform, a solution designed to simplify access to high-performance computing for enterprises, researchers, and developers.

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The TIR AI/ML Platform eliminates the complexities of infrastructure setup, allowing users to initiate training, fine-tuning, and inference workloads with just a few clicks. This innovation ensures efficiency and ease of use, enabling businesses to focus on AI-driven advancements rather than technical hurdles.

Beyond AI model training, the H200 deployment is well-suited for real-time applications in industries such as healthcare, autonomous systems, financial analytics, and cutting-edge research. 

Additionally, enterprises with strict data residency and compliance requirements can leverage these AI solutions through E2E Cloud’s Sovereign Cloud Platform. This guarantees regulatory compliance while delivering top-tier AI computing capabilities to sectors including government, finance, and healthcare.

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MARKETS

BR Goyal Infra Shares Surge 3% on Securing Order Worth Rs 11 Crore 

Ali Waghbakriwala

Shares of this micro-cap stock, BR Goyal Infrastructure Ltd, surged 3%, hitting an intraday high of Rs 115.55 on 3 April after the company announced securing an order from NHIT Eastern Projects Private Limited for improvement work on National Highway 44 (NH-44) worth Rs 11 crore.

BR Goyal Infrastructure Limited has received a work order from NHIT Eastern Projects Private Limited to improve the Lakhnadon-Khawasa Section of NH-44 in Madhya Pradesh. The project, which would cost Rs 10.90 crore, will be completed in six months. 

Under this contract, improvements to the national highway will be carried out on an item-rate basis. The company sees this as a vital step in expanding its infrastructure development footprint while producing high-quality road projects.

The company works in several industries, including producing ready-mixed concrete (RMC), handling toll collection contracts in Haryana and Uttar Pradesh, and offering EPC services for infrastructure projects. It also constructs residential buildings in Indore and operates a 1.25 MW windmill in Jaisalmer, Rajasthan.

The company held its Initial Public issuing (IPO) from 10 January to 12 January 2025, issuing 30 lakh equity shares at a price of Rs 100 apiece in an attempt to raise Rs 30 crores. The money raised will be utilized to meet working capital requirements, increase the production of ready-mix concrete, and support existing civil construction projects.

However, at 2:37 pm, the shares of BR Goyal Infra shed all their early gains and were trading 0.13% lower at Rs 111.85 on NSE.

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