Indian Energy Exchange IPO to open on 9 October

Indian Energy Exchange Ltd’s (IEX) IPO is all set to open for subscription from 9-11 October. The IEX has set a price range of Rs 1,645-1,650 per equity share of face value Rs. 10. It is expected to garner Rs. 1000.73 crore from the offer at the upper end of the price band by selling 60.65 lakh equity shares. The floor price of the shares is 164.5 times the face value and the cap-price is 165 times of the face value. 

The IPO will see a sale of 60,65,009 equity shares by existing shareholders which included Tata Power Company,  private equity arm of AB Group, Madison India Capital and Multiples Alternate Asset Management. IEX is India’s first power exchange providing automated trading platform for electricity and renewable energy certificates.

BBTC Share Technical Trading Ideas for Tomorrow from Market Expert ( 4 oct 2017)

Research Head (MONEY MAKER RESEARCH & INVESTMENT ADVISOR PVT LTD) is having a view that one can go long in ADANI TRANS & BBTC.

“BBTC is the stock which I would suggest to buy above 1405; this can see upside to levels closer to Rs 1460 - 1470 zones, keep stop loss below Rs 1320”.

Stock has been gaining for the last 3 days and has risen 17.89% in the period & Outperformed Sector by 1.41%.

BBTC was closed 2.47 percent up today at Rs 1391.90 at NSE.

Kalyan Jewellers lines up Rs. 135.00 crore investment in Uttar Pradesh

Kerala-based Kalyan Jewellers has lined up investment of about Rs 135 crore to expand its track in the market in Uttar Pradesh. The Indian jewellery store chain, Kalyan Jewellers, which already run a company owned retail store in Noida, on today, 4th October 2017, announced to launch its 116th outlet in Lucknow.

As stated by the Executive Director of Kalyan Jewellers, Mr. Ramesh Kalyanaraman, the company have invested close to Rs 75.00  crore in the Lucknow market and by the end of this financial year, its third UP store would materialize in Kanpur. “Uttar Pradesh was a big market and contributed almost 10% to the country’s jewellery segment, which is still dominated by the local unorganized players. Before entering this market, proper diligence and market research had conducted to explore flourishing prospects in the business. We found that our brand provided the perfect proposition to the state customers taking into account of the product, design and value”, Kalyanaraman added.

The company has also under planning to launch new stores in other cities of the North, including Bhopal and Indore. The company claims a dedicated customer base of almost 1.5 million with 70% repeat buyers.

Kalyanaraman informed over the past few weeks, the domestic jewellery segment had registered an unpick in demand and the players were optimistic that the momentum would further pick up in the months ahead.