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Go Digit, the fast-growing general insurance company, listed at Rs 286 per share, translating to a 5% gain over the issue price of Rs 272.The listing fell short of expectations as the grey market trends suggested a potential gain of around 10%.Analysts said Go Digit's position as the fastest-growing private non-life insurer by GWP in India positions it for continued success in the dynamic insurance market. The company's advanced technology platform and focus on innovation bode well for its future."Go Digit's moderate listing necessitates a balanced approach from investors. While the company possesses strong long-term potential, careful consideration of the valuation and competitive landscape is crucial. Investors may hold their position by keeping a stoploss at the issue price," said Shivani Nyati, Head of Wealth, Swastika Investmart.Also Read: Virat Kohli-backed Go Digit debuts at 5% premium over IPO priceAhead of the issue opening, the firm raised about Rs 1,176 crore in the anchor round, where Fidelity Investments, Goldman Sachs, ADIA, and Custody Bank of Japan were among the investors.In 2020, cricketer Virat Kohli bought 2.66 lakh shares of the company for Rs 2 crore, while actress wife Anushka Sharma invested 50 lakh through a private placement.Ahead of the IPO, the promoter group, including Canada-based Fairfax, Kamesh Goyal, Go Digit Infoworks, and Oben Ventures, owned an 83.31% stake in the company.Go Digit is a leading digital full-stack insurer and the fastest-growing private non-life insurer by GWP in India. They offer a simplified and customized customer experience, with focus on empowering their distribution partners.In the 9 months ended December 2023, Go Digit's net earned premium rose to Rs 5,115 crore vs Rs 3,767 crore in the corresponding period of the previous financial year. It reported a profit after tax of Rs 129 crore in the 9-month period vs Rs 10 crore in the first 9 months of FY23.The PE ratio, based on the diluted EPS for 2023, at the upper range of the price band is 680x as compared to the average industry peer group of 46.13x.ICICI Securities, Morgan Stanley India, Axis Capital, Edelweiss Financial Services, HDFC Bank, and IIFL Securities acted as the book-running lead managers for the IPO.

After jumping 435% in one year, the board of multibagger stock KPI Green Energy today announced a stock split in the ratio 1:2, meaning that one equity share of the company will now be split into 2 equity shares.“The Board of Directors, inter alia, has considered, approved and recommended ordinary resolution through postal ballot for alteration of the capital of the Company by sub-division/split of existing equity share of the Company from One equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid-up, into 2 (Two) equity shares having face value of Rs. 5/- (Rupees Five only) each, fully paid-up,” the company said in a filing to stock exchanges.The stock split is being done in order to enhance the liquidity of the company's equity shares and encourage the participation of small investors by making it more affordable, it said.Also read: GRSE shares surge 20% after posting doubling Q4 profit but ICICI Securities screams sellThe expected timeline for the completion of the activity will be approximately 3 months from the date of receipt of approval of the shareholders of the company.The record date for the purpose of the subdivision of the equity shares would be decided after obtaining approval of the shareholders through postal ballot and will be intimated to the exchanges at a later date.KPI Green had also informed the exchanges about its decision to raise funds through the issue of equity shares by way of QIP earlier in May month.The shares of KPI Green Energy were trading nearly 3% higher at Rs 1,935.75 around 12 noon today.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Three Bengaluru hotels including the five-star hotel The Oterra received bomb threats via email on Thursday. Teams of Bomb Squad, sniffer dogs and the police are searching at The Oterra and other hotels, said DCP South East Bengaluru, as quoted by ANI.The threat comes a month after the principal at Treamis School in Hulimangala received a bomb threat via email. It was declared as a hoax after an extensive three hour search of the school.(This is a developing story)

Shares of Sun Pharmaceutical Industries fell 5% in Thursday's trade on BSE to the day’s low of Rs 1,467 even after the company posted a 34% year-on-year (YoY) jump in its Q4 profit to Rs 2,654.6 crore while the revenue rose 10.1% YoY to Rs. 11813 crore in Q4FY24.The board of the company also declared an interim dividend of Rs. 5 per equity share for FY24 in addition to the interim dividend of Rs 8.5 already paid during the year.Despite a fall in the share price today, brokerages are positive on the stock, and most of them have increased the target prices. Here’s what brokerages have to say:JefferiesJefferies expects growth for Sun Pharma to pick up from FY26 backed by which, it has a ‘buy’ view on the stock with a target price of Rs 1,785Citi BankThe global brokerage firm stated that the company has margin levers but sees a possibility that FY25 margins may remain subdued. Citi has a ‘buy’ rating on the stock with a target price of Rs 1,640 as it believes that the underlying business trends as well as medium term/LT margin expansion story remains intact.Also read: Q4 results today: ITC, IndiGo among 181 companies to announce earnings on ThursdayJP MorganJP Morgan said Sun Pharma presented a strong show in specialty drives in the US while its key business continued to strengthen and the company entered its investment phase.JP Morgan has an ‘overweight’ rating on the stock with a target price of Rs 1,610.Prabhudas LilladherFY25 expenses may remain elevated given the company is in the investment phase to ramp up the specialty pipeline; the launch of deuruxolitinib along with the progress of other pipelines provides visibility to SUNP’s specialty pipeline beyond FY25.Stating that Sun Pharma remains Prabhudas’ top pick in the sector, it maintained a ‘buy’ call on the stock with a revised target price of Rs 1,710.Motilal OswalSun Pharma reported a slight miss at the operational level for 4QFY24 due to lower-than-expected sales in the ROW market and higher-than-expected opex for the quarter. “SUNP continues to work on enhancing its specialty pipeline in the areas of dermatology, ophthalmology, and onco-dermatology. In fact, the target action date of Jul’24 is the key near-term trigger with respect to Deuruxolitinib”, said Motilal Oswal in a report.Motilal Oswal retained its ‘buy’ rating on the stock with a target of Rs 1,810.NuvamaOverall, earnings were a miss on operating level as per Nuvama and following the company’s guidance of high single-digit revenue growth and 8–10% R&D spend, the brokerage firm cut its FY25E/26E EPS by 17%/6%.Nuvama has downgraded the stock to ‘hold’ with a target price of Rs 1,620.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)