Abhishek Securities

IT company  L&T  Infotech  today said it is "activity" scouting for acquisitions to strengthen its offerings in areas such as analytics, consulting and Internet of Things.  The mid-sized IT company, which will come out with over Rs 1,200-crore IPO on July 11, said it would be interested in buys in the US,  Europe  or even Indian market. "We are looking at the US and European markets predominantly as the  acquisition  has to cater to that market by selling to our 250-plus customers. We will also look at Indian companies that serve customers in the US and Europe," Sanjay Jalona, CEO and MD of Larsen and Toubro Infotech said at a conference.  Besides, analytics, consulting and Internet of Things, another area of interest for the company is cloud-based infrastructure transformation. Put simply, Internet of Things links smart everyday objects to the net, allowing them to send and receive data.  "Acquisition is an integral part of a...

After two months of lull, activity in primary markets has started to pick up as five initial public offerings (IPOs) with a combined value of more than `5,000 crore are set to hit markets in the next one month. While the public offering of Mahanagar Gas has already opened, Quess Corp will launch its initial share sale during next week. Ratnakar Bank(RBL), L&T Infotech and Advanced Enzyme are also likely to announce their public offering by mid-July. If these public offerings manage to sail through, the total fund raising via IPO route in CY16 would cross `10,000-crore mark. In 2016 so far, ten companies have tapped primary markets to raise `6,743.69 crore, Prime Database showed. Apart from these, there are more than 10 companies including Sandhar Technologies, GNA Axles and Centre For Sight who have received a nod from the markets regulator for an IPO and are waiting for the right time to launch their share sales. According to Prithvi Haldea founder of Prime Database, al...

Concerned over the recent volatility in the domestic stock markets, six companies have reportedly put off their initial public offering (IPO) plans. The companies that are looking for stabilisation in markets to launch their IPOs include L&T Infotech, Parag Milkfoods, Catholic Syrian Bank, AGS Transact, Thyrocare Technologies and Bharat Matrimony. These companies are planning to raise a total of over Rs 6,000 crore through their IPOs, according to draft red herring prospectus (DHRP) filed by them separately with the Securities and Exchange Board of India (SEBI). The last month's sell-off in the domestic stock markets weighed heavily on the stock prices of companies that had hit the markets during late last year, with some of them falling by around 20% in a month compared to about 6% decline in the benchmark indices. Some firms might even contemplate trimming their issue sizes either by cutting the price band or by re...