India’s classic rum maker, the country’s largest retailer, one of the most beloved cricket clubs, the country’s largest stock exchange, and several financial services companies.
According to two dealers Bloomberg Quint spoke of, the unlisted stocks of these companies surged in demand as an unparalleled stock frenzy when the pandemic was scraped off the over-the-counter market.Spikes are a record number New individual investor A person who has accumulated shares while working from home during the blockage.
Without hesitation to take risks, they were looking for shares from Old Monk rum makers Mohammekin and National Stock Exchange to Reliance Retail. Demat format in the over-the-counter market at mutually agreed prices.
Interest usually comes from wealthy managers or portfolio managers. However, the number of transactions is increasing and is concentrated on a small number of companies, said financial planner Harshvarshan Roongta. He said it was a source of concern as novice investors are putting money into this volatile category.
One of the reasons Roongta quoted is that individual investors Squeeze out Initial public offering. And they buy and own such stocks and want to make a profit on their IPO.
Based on a conversation with Bloomberg Quint’s market dealers, here are some of the stocks available on the OTC market and how their prices fluctuated.
Subsidiaries Reliance Industries Limited., Reliance Retail Ltd. sells everything from groceries, household items to mobile phones through stores and online platforms. The company tried to buy back shares from its employees, but analysts reported that the price offered was lower than expected.
The company subsequently raised Rs 47,265 by selling more than 10% of its stake in retail holding company Reliance Retail Ventures Ltd. to investor Clutch.
The price of shares in the OTC market has soared about five times from 380 rupees offered to employees to 1,700 rupees per share. It will give a market value of about Rs 84,800.
Paytm’s parent company, One97 Communications Ltd., offers technology-backed financial services both online and offline. According to NPCI data, as of May, it had a 11.5% share of the digital payments market, making it the third-largest player after Google Pay, the PhonePe. The company plans to go public for Rs 22,000.
The stock was One97. Communications has more than doubled since the announcement of the IPO, jumping from Rs 10,000 to Rs 24,000 per case. It will give it a value of 1.45 rupees.
India’s largest stock exchange, the National Stock Exchange of India Ltd., is addressing the failure of the collocation case, which led to a penalty by market regulators for preferred access to some brokers. It also stagnated plans for an initial public offering.
The NSE has challenged the SEBI order in the Securities Appeal Court. According to previous financial statements, NSE held more than Rs 6,085 in its escrow account. After the May SAT ordered the NSE to allow the use of funds, the exchange became accessible to that amount.
The price of NSE shares in the OTC market soared from 850 rupees to 2,000 rupees per share last year. At this level, the exchange is valued at an estimated Rs 99,000.
Hero FinCorp Ltd., part of it Hero Group offers vehicle purchases, real estate loans, and commercial credit. Throughout Hero MotoCorp Ltd.’s dealer network, there are nearly 2,000 retail financial touchpoints.
Stock prices rose from 800 rupees to 1,000 rupees last year. The present value in the over-the-counter market is estimated at 12,731 rupees.
HDB Financial Services
HDFC Bank Ltd. HDB Financial Services Ltd., a non-bank lending division of the company, offers personal, gold, automotive, business, durability, commercial vehicle loans, and real estate loans. The company has 1,500 branches in 24 states and three Union Territories.
According to HDB Financial Services, another subsidiary of the group, HDFC Securities Ltd. It is highly likely that it will be listed earlier than that. Report..
Former CEO of HDFC Bank, Aditya Puri, was expected to remain on the non-bank board after leaving the parent company. However, as he left the company and profits fell by two-thirds last fiscal year, stock prices have fallen from around Rs 1,300 to Rs 915 per unit in the last six months. The company’s estimate is 72,210 rupees.
HDFC Securities Limited, another subsidiary of HDFC Bank, offers institutional and retail intermediary services.
Prices in the OTC market rose from 8,000 rupees to 10,300 rupees per piece last year, worth about 16,000 rupees.
Tamil Nadu Mercantile Bank
Based in Tutukdi, Tamil Nadu, the lender has a network of 509 branches throughout India.
The share of private lenders rose after disclosing the IPO plan. The stock price has doubled from 250 rupees to 600 rupees per piece and is valued at about 8,551 rupees.
Chennai Super Kings
Chennai Super Kings Cricket Ltd. is the parent of the CSKT20 team participating in the Indian Premier League. In addition to the money earned from the game, we also sell items such as T-shirts, mugs, wall posters, shoes, wristbands and other accessories.
When the IPL was suspended last year, the price of unlisted stocks fell to a low of Rs 24-25 per share. However, after that, it recovered to 68 rupees per case, and the company’s valuation was 2,095 rupees.
Although Mohan Meakin Ltd. has been delisted from the exchange, its shares are available to high net worth investors and are traded on the OTC market.
In addition to Old Monk rum, we produce Solan’s No. 1 whiskey and Golden Eagle beer, among other alcoholic beverages. The company is also diversifying into fruit juices, breakfast foods, mineral water and glasses.
Inventory will move from 600 rupees to 1,050 rupees per piece from the beginning of the year, with an estimated value of 900 rupees.
Starlight power transmission
A new addition to the OTC market, Sterlite Power Transmission Ltd. is part of billionaire Anil Agarwal’s Vedanta Group. In addition to manufacturing conductors and cables, the company provides transmission and distribution services.
Prices have risen from 260 rupees to 420 rupees per piece in the last three months. Evaluate it with an estimated Rs 2,570.
Studds Accessories Ltd, a manufacturer of helmets and accessories for motorcycle riders. Is based in more than 50 countries in Europe, Asia, Latin America and the Middle East. The company has submitted a draft prospectus to the IPO market regulators.
Its share jumped from Rs 500 to Rs 1,500 per unit in the OTC market last year, bringing a market value of Rs 2,951.
From Patym to NSE, retail frenzy boosts OTC stock prices
https://www.bloombergquint.com/business/from-patym-and-nse-to-old-monk-maker-retail-frenzy-drives-stock-prices-in-otc-market From Patym to NSE, retail frenzy boosts OTC stock prices