SBI Funds makes strong D-St debut, ends 6.3% above IPO price

Late stage funding in India saw average deal sizes surge to about $86 million in the first half, driven by fewer but larger transactions. Capital flowed into AI infrastructure, energy and lending, while investors turned selective, focusing on profitability, governance and exit visibility amid a more disciplined private market environment.

Brokerages initiated coverage on three Indian companies with positive ratings. Kirloskar Oil Engines has a price target implying a twenty-four percent upside. APL Apollo Tubes is seen as a strong play in building materials. Union Bank of India offers a sixteen percent potential return. These recommendations suggest significant future growth prospects for the firms.

Vedanta Power share price dipped 3% despite a significant 38% year-on-year surge in power sales for the June quarter, driven by Meenakshi Energy’s expansion and Talwandi Sabo’s consistent output. While Meenakshi Energy saw a 245% jump, Sakti Thermal Plant faced a shutdown due to a boiler blast. Brokerages remain divided on the company’s valuation, with…