HP Adhesives

Rural and semi-urban markets are growing 1.5 times faster than the urban market for Pidilite Industries, helping it register a double-digit volume growth and it sees positive demand environment in the last quarter also, says its Managing Director Bharat Puri. The company achieved a double-digit volume growth in the first three-quarters of FY24 and Puri expects to continue the momentum with a broad-based growth across categories. "We see a good demand environment, government spending on infrastructure, the housing sector and real estate is seeing an upsurge. So, overall we remain optimistic about the overall prospects of our sector," said Puri in a virtual media roundtable. Pidilite, which passed on the benefits of lower-cost prices to consumers, does not see any disruption in the supply chain from the geopolitical crisis, which is brewing in the Middle East. "Fortunately for us, most of our raw material comes from the East rather than from via the Red Sea. Right now, raw material

Stocks to Watch Today: Bandhan Bank, BoB, Eicher Motors, Escorts, REC, SBI, Tech Mahindra and UCO Bank are likely to be in focus ahead of Q4 results; Delhivery and Venus Pipes IPOs close on Friday.

With today's gain, the stock has advanced 64 per cent higher over the issue price on the BSE.

After listing, the company has a market capitalisation of Rs 615.47 crore

HP Adhesives makes strong debut at 16% premium, ends 22% higher; RBL Bank tanks 20% as Vishwavir Ahuja goes on leave; analysts sound caution

Debutant HP Adhesives ended with a 22.20 per cent premium at Rs 335 over its issue price of Rs 274 per share; Overall market breadth was also positive

At 10:01 am, the stock was locked at the 5 per cent upper circuit at Rs 334.95 on the BSE

HP Adhesives is likely to debut with a 20-25 per cent listing gain, as per indications from the GMP

The category for Retail Individual Investors (RIIs) was subscribed 81.24 times, non institutional investors 19.04 times, and Qualified Institutional Buyers (QIBs) received 1.82 times subscription

The IPO received bids for 20,303,100 shares against 2,528,500 shares on offer

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