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Jim's current faves include three tech names and a bank stock. View More

On Thursday, Jim Cramer and portfolio director Jeff Marks held the CNBC Investing Club's September Monthly Meeting. They ran through each stock in the portfolio, with Jim putting special emphasis on his six favorite names to buy right now as we become more selective about our AI exposure. He also dedicated some time at the start of the meeting to lessons learned from our recent exit of Corning . 6 names to buy now Kimberly Clark : The pending Kenvue acquisition should add scale, lower costs, and give management an opportunity to reinvigorate its portfolio of under-managed consumer health brands. The Cottonelle and Huggies parent was hit hard on Wednesday after management lowered its near-term earnings outlook , and we're considering whether to use the pullback to increase our small position. Bank of New York : This is a lower-risk financial that provides a nice counterbalance to Capital One. Roughly 70% of its revenue is fee-based, making the business less exposed to the credit cycle and interest rate changes. CEO Robin Vince's transformation is also delivering results, with BNY posting 14 consecutive quarters of year-over-year sales growth and record sales in each of the past two. Intel : We like Intel after the stock's sharp pullback, exacerbated by concerns about the government lockup's expiration. Given President Donald Trump's recent posts touting gains in U.S. government holdings, a near-term sale seems unlikely. The chipmaker is also raising CPU prices and attracting foundry customers, and we think the stock can recover its losses and move higher . Micron : The memory maker remains one of our highest-conviction semiconductor names , trading at just six times fiscal 2027 earnings. Memory pricing continues to rise, advanced HBM shipments from its new factory will begin in January, and we see a potential catalyst from a large buyback once government restrictions expire in December. Meta : The market is underappreciating the favorability of Meta's recent legal settlement . With that overhang diminished, the company can focus on becoming a major cloud-services provider. Even after its rally, the stock trades at only about 19 times earnings, leaving us convinced there's more upside . The Facebook and Instagram parent is our favorite of the Magnificent 7 . FedEx : FedEx is a buy at roughly 16 times earnings, and we think the stock is biding its time before a breakout. We expect a strong holiday season and believe the shipping giant has an opportunity to gain share from UPS , which makes us willing to look past concerns about higher fuel prices. Tech and other AI names Nvidia : We haven't given up on Nvidia despite curbing our enthusiasm across the broader semiconductor group. At roughly 14 times fiscal 2028 estimates, the stock is exceptionally inexpensive given its earnings power. The acquisition of Hugging Face only strengthens its AI ecosystem. We view Nvidia as an own-it, don't-trade stock. GE Vernova : We still like the stock, despite concerns about data center construction . Turbine cancellations haven't materialized, and order growth has actually accelerated in some states considering data center moratoriums, reinforcing our confidence in the long-term power demand story. Eaton : The electrical equipment supplier's opportunity extends well beyond data centers . It would have an excellent business simply from rebuilding the aging electric grid. Eaton's aerospace and traditional electrical operations make it less risky than a pure-play data center name. Qnity : Despite the stock's sharp decline, Qnity makes some of the best materials used in semiconductor manufacturing. The market may better appreciate this DuPont spin-off once it attracts more technology analyst coverage rather than being viewed primarily through a chemicals lens. Amazon : Of the hyperscalers, Amazon has the most going for it outside the data center thanks to its fast-growing cloud business and dominant retail operation. Amazon could be the first hyperscaler to show investors substantial profits from AI . Alphabet & Microsoft : We expect Alphabet and Microsoft to report spectacular data center numbers by this time next year, and that growth will demonstrate why the companies have been willing to invest so aggressively. CrowdStrike & Palo Alto : As AI agents become more capable — and potentially more dangerous — the need for cybersecurity to keep them in check is only growing . CrowdStrike and Palo Alto are best positioned to address these emerging threats, making them our two favorite ways to play the rising cybersecurity demands created by AI. Salesforce : The software giant's rally ahead of Dreamforce showed why we've stuck with the stock. Next week's event could provide further evidence that major enterprises remain committed to Salesforce, and we don't think software will surrender all its recent hard-fought gains. Apple: We continue to view Apple as an own-it, don't-trade-it stock as John Ternus takes over as CEO. The product pipeline remains strong, and the new foldable iPhone could be a major hit. Broadcom : This chipmaker is our least favorite tech holding, so we trimmed the position heading into the quarter. Management offered some bold forecasts on its latest earnings call, but we worry that increasingly fierce competition from both Nvidia and Marvell could make those targets harder to achieve. The rest Capital One : The bank remains frustratingly cheap at roughly 10 times earnings, even accounting for the risk that higher rates could eventually increase credit losses. The consumer balance sheet remains healthy , giving us confidence to wait for the stock to move higher . Wells Fargo : A valuation of roughly 12 times earnings is absurd. Higher rates could slow some of that progress, but the healthy consumer backdrop and discounted valuation give us reason to stay patient. Goldman Sachs : This is the investment bank's year, particularly with underwriting activity strengthening. At roughly 15 times earnings, the stock appears priced as if the IPO market won't recover, even though we expect plenty more offerings to come. Cardinal Health : We still like the drug distributor even after its strong run and recent pullback. Its valuation remains below McKesson and roughly in line with Cencora , which understates the quality and diversification of Cardinal's business and leaves room for the stock to reach new highs. Johnson & Johnson : JNJ remains the class of the healthcare industry, with 18 potential blockbusters and an underappreciated medical-device business. We don't expect the stock to blow investors away after its recent run, but the pipeline is too strong for us to consider selling. Eli Lilly : The drugmaker may not deliver the same spectacular gains from here after its huge run , but we see no reason to sell. Its pipeline of next-generation GLP-1 treatments gives us confidence that the company's growth story still has plenty of runway. Boeing : Geopolitical tensions need to ease so investors can refocus on the company's improving fundamentals. We expect Boeing to generate immense cash flow next year, but we cannot get too excited until the war is no longer dominating sentiment. DuPont : The stock remains in a holding pattern, despite a terrific quarter. Management needs to tell a better story for the stock to begin reflecting the underlying performance. Otherwise, it may be time to move on to more fruitful investments after next quarter. Home Depot : The home improvement retailer remains heavily dependent on interest rates, which are moving in the wrong direction. We're glad we reduced our position and see little reason to become more aggressive until the rate backdrop improves. FedEx Freight : The stock continues to struggle following its separation from FedEx. Once that technical stock pressure post-spin clears and oil prices come down, investors will recognize it is one of the highest-quality less-than-truckload companies in the market. Linde : We view the stock's recent pause as a rest rather than a change in the thesis. Too many of the industrial gas giant's businesses are performing well, particularly across healthcare, energy and semiconductors, for us to become concerned. Starbucks : The coffee chain delivered another good quarter, and we think the turnaround is approaching an inflection point . The stock remains volatile, but we'd view a drop below $100 as an opportunity to buy. Honeywell : This investment has been a mistake so far, and we're running out of patience. We're holding the remaining business because climate control and security offer legitimate growth opportunities, but we need a substantially better quarter next time because there can be no more excuses. TJX Companies : The discount retailer's latest quarter was plainly disappointing, but we're willing to give it the benefit of the doubt. The stock's recent decline is beginning to reflect much of the setback, but we need next quarter to show that this was an aberration before becoming more confident. Costco : We're increasingly cautious on the big-box retailer after Walmart's decline highlighted the risk of paying a premium multiple for retail. At roughly 44 times earnings, Costco needs to execute, and another mediocre quarter would force us to reconsider our holding. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

Kanohar Electricals IPO entered its final bidding day after being subscribed 10.22 times by Day 2. A 35% grey market premium and positive brokerage recommendations have boosted investor interest. View More

The Kanohar Electricals IPO continued to attract strong investor interest on the final day of bidding, with the issue receiving an overall subscription of 190.59 times against the 1.16 crore shares on offer, showed the NSE data. A grey market premium (GMP) of around 35% has added to the buzz, keeping the issue firmly in focus ahead of its anticipated stock market debut. By the end of Day 2, the IPO had been subscribed 10.22 times, with investors bidding for shares against the 1.16 crore shares on offer. Retail investors displayed particularly strong demand, with the retail individual investor (RII) portion subscribed 8.49 times, compared with the 58.46 lakh shares reserved for the category. Kanohar Electricals IPO is a book-built issue worth Rs 1,055.74 crore, comprising a fresh issue of 47.47 lakh shares worth Rs 300 crore and an offer for sale (OFS) of 1.20 crore shares amounting to Rs 755.74 crore. The IPO price band has been fixed at Rs 601–Rs 632 per share, while the lot size is 23 shares. At the upper end of the price band, retail investors will need to shell out a minimum of Rs 14,536 for one lot. Live Events Kanohar Electricals IPO opens for subscription on Sep 8, 2026 and closes on Sep 10, 2026. The allotment for the Kanohar Electricals IPO is expected to be finalized on Sep 11, 2026. Kanohar Electricals IPO will list on NSE and BSE with a tentative listing date fixed as Sep 16, 2026. Nuvama Wealth Management Limited and IIFL Capital Services Limited are the book-running lead managers for the issue, while MUFG Intime India Private Limited is acting as the registrar. Kanohar Electricals IPO Subscription Status Among investor categories, the Retail Individual Investors (RIIs) portion was subscribed 20.51 times, with 58.46 lakh shares reserved for the category. Non-Institutional Investors (NIIs) segment was subscribed 87.74 times against the 25.05 lakh shares offered. Meanwhile, the Qualified Institutional Buyers (QIBs) category recorded a subscription of 215.37 times, compared with the 33.40 lakh shares reserved for institutional investors. Kanohar Electricals IPO GMP Today The Kanohar Electricals IPO continues to trade at a healthy premium in the grey market. The latest Grey Market Premium (GMP) stands at Rs 223 per share, implying a premium of around 35% over the IPO's upper price band of Rs 632. Based on the current GMP, the estimated listing price stands at around Rs 855 per share, suggesting a potentially strong listing gain over the IPO's upper price band. GMP Note: The Grey Market Premium (GMP) is an unofficial indicator of market sentiment and is not regulated or guaranteed by stock exchanges. GMP levels can change before the listing, and the actual listing price may vary significantly from estimates based on grey-market trends. IPO Objects of the Issue Kanohar Electricals plans to use the net proceeds from the IPO primarily to fund its capital expenditure requirements, with an estimated allocation of Rs 64.18 crore. The company also proposes to deploy Rs 155 crore towards incremental working capital requirements. The remaining proceeds will be utilised for general corporate purposes. Overall, the company plans to utilise approximately Rs 219.18 crore from the issue proceeds towards these objectives. Financial Performance Kanohar Electricals reported a 45% year-on-year increase in total income, rising from Rs 457.30 crore in FY25 to Rs 662.86 crore in FY26. The company also recorded strong growth in profitability during the period. Profit after tax (PAT) nearly doubled, climbing 99% from Rs 65.12 crore in FY25 to Rs 129.73 crore in FY26, highlighting a significant improvement in its bottom line. About Kanohar Electricals Ltd. Incorporated in 1972, Kanohar Electricals Limited is an Indian transformer manufacturer serving the power transmission, railways, renewable energy and power distribution sectors. The Company operates across two segments: transformer manufacturing and EPC services. It is one of only four Indian manufacturers certified by RDSO to manufacture 100 MVA, 132 kV Scott transformers. Kanohar operates two manufacturing facilities in Meerut, Uttar Pradesh, with a combined transformer manufacturing capacity of 19,200 MVA as of March 31, 2026. The Company also has five regional offices across India and a workforce of 526+ employees. Should you subscribe? According to AnandRathi research report, "The company offers exposure to the structural growth in India’s power transmission and distribution sector, supported by rising grid investments, renewable energy integration and increasing demand for high-voltage transformers. However, the high customer concentration, dependence on the Transformer Manufacturing Business and government/transmission utility orders warrant a measured outlook. At the upper price band, the company is valued at 38.6x FY26 P/E and 28.0x EV/EBITDA, implying a post-issue market capitalisation of Rs 50,046 million. While the valuation is at a premium to Transformers & Rectifiers (India) Limited at 32.2x P/E and 20.8x EV/EBITDA, the premium is supported by Kanohar’s superior recent growth and profitability profile. Accordingly, we recommend a “Subscribe – Long Term” rating for the issue. SBI Securities said, “At the upper price band of Rs 632, the issue is valued at 38.6x FY26 post-issue P/E, which appears reasonable given its strong growth trajectory, niche certifications, robust order pipeline and favourable industry tailwinds. We recommend subscribing to the issue at the cut-off price.” Arihant Capital said, “At the upper price band of Rs 632 per share, the issue is valued at approximately 38.58x FY26 earnings, depending on the share-count methodology used. The premium valuation is supported by strong earnings growth, improving margins, high ROCE and a sizeable order book. However, investors should monitor customer concentration, government/PSU dependence, execution risk, commodity-price volatility and the sustainability of the recent margin expansion. We recommend subscribing for investors with a medium-to-long-term horizon.” (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

Google on Wednesday said it would invest $15.1 billion into AI infrastructure in Finland, marking the tech giant's largest single investment in Europe. View More

In this articleFOT-FFFOT-FFMSFTGOOGLNBISMETAFollow your favorite stocksCREATE FREE ACCOUNT Google on Wednesday said it would invest at least 13 billion euros ($15.1 billion) into AI infrastructure in Finland, marking the tech giant's largest single investment in Europe.Finland has emerged as a key location for data centers amid the AI boom, with hyperscalers and developers eyeing its available land and power, which is in short supply throughout most of Europe.Google will deploy the capital through 2028, including into data centers and other supporting investments like energy projects, the company said in a statement.It added that it has signed a 22-year life extension power purchase agreement (PPA) with Finnish energy company Fortum — which saw its stock jump 11% on the news."Google is proud to deepen our roots in Finland with the company's largest single investment in Europe, building on more than 15 years of sustained investment in Finland," Ruth Porat, president and chief investment officer of Alphabet and Google, said in a statement. "This investment underscores Google's commitment to grow our presence responsibly, pairing the expansion of our technical infrastructure with new energy capacity, grid enhancements, and energy affordability initiatives."Finland's booming data center sectorSeveral data center projects with potential capacities of hundreds of megawatts have been announced in Finland in recent months.Pure DC said in July it would invest 1.5 billion euros ($1.74 billion) to build a 110-megawatt campus in Finland, with the potential to scale beyond 550 megawatts. Arcem has plans for a site with up to 500 megawatts capacity. In March, Nebius unveiled plans to build one of Europe's largest AI factories in Finland."Finland is seeing huge demand for AI infrastructure right now, I've heard it called the 'Texas of Europe' at industry events," Matti Lajunen, partner of real estate at Finnish law firm Hannes Snellman, told CNBC. "What we're now seeing is weekly new inquiries for market entry into Finland from new players."Texas has become one of the leading locations for AI data centers globally, with a number of huge projects announced by hyperscalers and AI labs, including Meta, Microsoft and Anthropic. Google in November said it would invest $40 billion in Texas through 2027.A map showing data centers across the United States.CNBCAlongside Fortum, Google said it would "work to identify new business models to improve the commercial viability of potential new nuclear reactors" at its Loviisa site, a town in Southern Finland.Finland has also been an attractive location for digital infrastructure supporting social media workloads, with TikTok planning on expanding its data center capacity in the country."The value of the data economy extends far beyond direct investment into spurring innovation, research, and development," said Finland's Prime Minister Petteri Orpo. "Deepening our collaboration with Google will deliver lasting benefits for both parties." Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

"We have at this point ruled out cyber," the head of NATS said Wednesday, as airlines slammed the organization for a third major failure in three years. View More

In this articleRYAAYFollow your favorite stocksCREATE FREE ACCOUNT Delayed passengers wait and queue with their luggage at Terminal 3 of London Heathrow airport, west of London on September 8, 2026, following major disruption due an issue affecting the NATS air traffic control systems. Henry Nicholls | Afp | Getty ImagesThe head of U.K. air traffic control services has said he does not believe a cyber attack caused the software issue that disrupted hundreds of thousands of passengers with flight cancelations on Tuesday. "Obviously we will be doing a very thorough and full investigation. We have at this point ruled out cyber, we don't believe it was a cyber attack," Martin Rolfe told BBC Radio 4's Today program on Wednesday. "I don't believe we've ever seen an incident happen more than once, so this will be something different that we've never seen in 50 years of operation," he added. Flight tracking website Flightradar24 said 1,300 flights were canceled to and from U.K. airports on Tuesday, and that 177 flights had been canceled as of early Wednesday morning. Nearly all the cancelations were at London's Heathrow, one of Europe's busiest airports. London's Stansted and Gatwick airports, Birmingham and Manchester were also severely impacted.The technical issue was confirmed by National Air Traffic Services (NATS) shortly before 2 p.m. local time on Tuesday. While it was resolved by 7:30 p.m., severe travel disruption continued into Wednesday due to a backlog of flights, aircraft and crews being in the wrong place, and staff reaching the end of shift limits. Passengers due to fly Wednesday have been urged to check with their airline for updates. An arrivals board shows flight status at Gatwick Airport on September 08, 2026 in London, England. Getty Images | Getty Images News | Getty ImagesRolfe said NATS took responsibility for the impact on passengers, airlines and airports."We never do this lightly, we only do it when there is an issue that cannot be solved quickly and we have to take action to make sure that those who are flying, who are in the air at the time, are safe," he told the BBC."When we can restore these incredibly complex systems, we do so as quickly as we possibly can."NATS runs air traffic control services for 15 U.K. airports, handling around 2.5 million flights a year, and is responsible for managing the U.K.'s upper airspace used by commercial jets. Airlines directed sharp criticism at the organization and its leadership on Wednesday, noting that the latest incident followed two other major failures in recent years. A radar technical issue in July 2025 led to more than 150 cancellations, while widespread travel chaos lasted for days over a long weekend in August 2023 due to problems with NATS' flight plan processing sub-system. Neal McMahon, chief operating officer of Ireland's Ryanair, called it an "abhorrent" failure by NATS that had hit families traveling on holiday and people traveling for work."The astonishing part is that NATS continues to charge airlines and passengers more each year while delivering a worse service. Following the 2023 collapse, we were told lessons would be learned... Yet here we are again," McMahon said in a statement. A spokesperson for low-cost carrier Wizz Air told CNBC the airline was "extremely disappointed that another NATS technical failure has caused widespread disruption across the U.K. aviation network.""Passengers are once again facing delays and cancellations because of a failure entirely outside airlines' control," they said.Passengers flying from Heathrow have been hit by further disruption recently. Rail links to Britain's busiest airport were suspended at the weekend due to a fire, while the entire airport shut down for almost a whole day in March 2025 due to a power outage at a nearby electrical substation. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Kanohar Electricals IPO received robust demand on its second day of bidding. The issue was subscribed 10.22 times overall, indicating strong investor interest. A significant grey market premium of 35% further boosted market sentiment. The company plans to use IPO proceeds for capital expenditure and working capital. Analysts recommend subscribing for long-term investment based on growth prospects. View More

The Kanohar Electricals IPO witnessed strong demand on the second day of bidding, with the issue getting subscribed 10.22 times overall against the 1.16 crore shares on offer. The three-day issue has received a robust response so far. A grey market premium (GMP) of around 35% has further boosted market interest, keeping the IPO firmly on investors’ radar ahead of its stock market debut. The IPO was subscribed 2.70 times on Day 1, against the 1.16 crore shares on offer. Retail investors showed even stronger appetite, with the RII portion subscribed 3.30 times against the 58.46 lakh shares reserved for the category. Kanohar Electricals IPO is a book-built issue worth Rs 1,055.74 crore, comprising a fresh issue of 47.47 lakh shares worth Rs 300 crore and an offer for sale (OFS) of 1.20 crore shares amounting to Rs 755.74 crore. The IPO price band has been fixed at Rs 601–Rs 632 per share, while the lot size is 23 shares. At the upper end of the price band, retail investors will need to shell out a minimum of Rs 14,536 for one lot. Kanohar Electricals IPO opens for subscription on Sep 8, 2026 and closes on Sep 10, 2026. The allotment for the Kanohar Electricals IPO is expected to be finalized on Sep 11, 2026. Kanohar Electricals IPO will list on NSE and BSE with a tentative listing date fixed as Sep 16, 2026. Live Events Nuvama Wealth Management Limited and IIFL Capital Services Limited are the book-running lead managers for the issue, while MUFG Intime India Private Limited is acting as the registrar. Kanohar Electricals IPO Subscription Status Breaking down the category-wise subscription, Retail Individual Investors (RIIs) subscribed 8.49 times the 58.46 lakh shares reserved for them. The Non-Institutional Investors (NIIs) segment saw even stronger demand, with subscription reaching 19.22 times against the 25.05 lakh shares offered. Meanwhile, the Qualified Institutional Buyers (QIBs) portion was subscribed 6.50 times, against the 33.40 lakh shares reserved for the category. Kanohar Electricals IPO GMP Today The Kanohar Electricals IPO continues to command a strong premium in the grey market. The latest Grey Market Premium (GMP) stands at Rs 218 per share, translating to a premium of around 35% over the upper end of the IPO price band of Rs 632. At the current GMP, the estimated listing price is around Rs 850 per share, indicating a potential premium over the IPO's upper price band. GMP Note: The Grey Market Premium (GMP) is an unofficial indicator of investor sentiment and is not regulated or guaranteed by stock exchanges. GMP can fluctuate before the listing, and the actual listing price may differ significantly from the estimated price based on grey-market trends. IPO Objects of the Issue Kanohar Electricals plans to use the net proceeds from the IPO primarily to fund its capital expenditure requirements, with an estimated allocation of Rs 64.18 crore. The company also proposes to deploy Rs 155 crore towards incremental working capital requirements. The remaining proceeds will be utilised for general corporate purposes. Overall, the company plans to utilise approximately Rs 219.18 crore from the issue proceeds towards these objectives. Financial Performance Kanohar Electricals reported a 45% year-on-year increase in total income, rising from Rs 457.30 crore in FY25 to Rs 662.86 crore in FY26. The company also recorded strong growth in profitability during the period. Profit after tax (PAT) nearly doubled, climbing 99% from Rs 65.12 crore in FY25 to Rs 129.73 crore in FY26, highlighting a significant improvement in its bottom line. About Kanohar Electricals Ltd. Incorporated in 1972, Kanohar Electricals Limited is an Indian transformer manufacturer serving the power transmission, railways, renewable energy and power distribution sectors. The Company operates across two segments: transformer manufacturing and EPC services. It is one of only four Indian manufacturers certified by RDSO to manufacture 100 MVA, 132 kV Scott transformers. Kanohar operates two manufacturing facilities in Meerut, Uttar Pradesh, with a combined transformer manufacturing capacity of 19,200 MVA as of March 31, 2026. The Company also has five regional offices across India and a workforce of 526+ employees. Should you subscribe? According to AnandRathi research report, "The company offers exposure to the structural growth in India’s power transmission and distribution sector, supported by rising grid investments, renewable energy integration and increasing demand for high-voltage transformers. However, the high customer concentration, dependence on the Transformer Manufacturing Business and government/transmission utility orders warrant a measured outlook. At the upper price band, the company is valued at 38.6x FY26 P/E and 28.0x EV/EBITDA, implying a post-issue market capitalization of Rs 50,046 million. While the valuation is at a premium to Transformers & Rectifiers (India) Limited at 32.2x P/E and 20.8x EV/EBITDA, the premium is supported by Kanohar’s superior recent growth and profitability profile. Accordingly, we recommend a “Subscribe – Long Term” rating for the issue. SBI Securities said, “At the upper price band of Rs 632, the issue is valued at 38.6x FY26 post-issue P/E, which appears reasonable given its strong growth trajectory, niche certifications, robust order pipeline and favourable industry tailwinds. We recommend subscribing to the issue at the cut-off price.” Arihant Capital said, “At the upper price band of Rs 632 per share, the issue is valued at approximately 38.58x FY26 earnings, depending on the share-count methodology used. The premium valuation is supported by strong earnings growth, improving margins, high ROCE and a sizeable order book. However, investors should monitor customer concentration, government/PSU dependence, execution risk, commodity-price volatility and the sustainability of the recent margin expansion. We recommend subscribing for investors with a medium-to-long-term horizon.” (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

The applications come after the Coal Ministry rejected reports last week that the scheme had failed to attract industry interest View More

The Centre's scheme received seven applications from Adani Enterprises, NTPC, Talcher Fertilisers, Gallantt Ispat and Shyam Sel & Power for projects in urea, syngas and synthetic gas View More

The Kanohar Electricals IPO opened today, September 8, 2026, and will remain accessible for a span of three days. This book-built offering, valued at Rs 1,055.74 crore, includes both fresh shares and an offer for sale. Proceeds from the IPO are earmarked for enhancing capital expenditure and meeting working capital demands. View More

The much-awaited Kanohar Electricals IPO opened for subscription today, September 8, 2026, giving investors a three-day window to place their bids until September 10. Kanohar Electricals IPO is a book-built issue worth Rs 1,055.74 crore, comprising a fresh issue of 47.47 lakh shares worth Rs 300 crore and an offer for sale (OFS) of 1.20 crore shares amounting to Rs 755.74 crore. The IPO price band has been fixed at Rs 601–Rs 632 per share, while the lot size is 23 shares. At the upper end of the price band, retail investors will need to shell out a minimum of Rs 14,536 for one lot. Kanohar Electricals IPO opens for subscription on Sep 8, 2026 and closes on Sep 10, 2026. The allotment for the Kanohar Electricals IPO is expected to be finalized on Sep 11, 2026. Kanohar Electricals IPO will list on NSE and BSE with a tentative listing date fixed as Sep 16, 2026. Nuvama Wealth Management Limited and IIFL Capital Services Limited are the book-running lead managers for the issue, while MUFG Intime India Private Limited is acting as the registrar. Live Events Kanohar Electricals IPO GMP Today Kanohar Electricals IPO is commanding a GMP of Rs 196 per share, or around 31% over the upper end of the IPO price band of Rs 632. Based on the latest grey-market premium, the estimated listing price stands at Rs 828 per share. GMP Note: The Grey Market Premium (GMP) is an unofficial indicator of market sentiment and is not an exchange-regulated or guaranteed measure of the IPO's listing price. GMP can change before listing, and the actual listing price may differ significantly from the estimated price. IPO: Objects of the Issue Kanohar Electricals plans to use the net proceeds from the IPO primarily to fund its capital expenditure requirements, with an estimated allocation of Rs 64.18 crore. The company also proposes to deploy Rs 155 crore towards incremental working capital requirements. The remaining proceeds will be utilised for general corporate purposes. Overall, the company plans to utilise approximately Rs 219.18 crore from the issue proceeds towards these objectives. Financial Performance Kanohar Electricals reported a 45% year-on-year increase in total income, rising from Rs 457.30 crore in FY25 to Rs 662.86 crore in FY26. The company also recorded strong growth in profitability during the period. Profit after tax (PAT) nearly doubled, climbing 99% from Rs 65.12 crore in FY25 to Rs 129.73 crore in FY26, highlighting a significant improvement in its bottom line. About Kanohar Electricals Ltd. Incorporated in 1972, Kanohar Electricals Limited is an Indian transformer manufacturer serving the power transmission, railways, renewable energy and power distribution sectors. The Company operates across two segments: transformer manufacturing and EPC services. It is one of only four Indian manufacturers certified by RDSO to manufacture 100 MVA, 132 kV Scott transformers. Kanohar operates two manufacturing facilities in Meerut, Uttar Pradesh, with a combined transformer manufacturing capacity of 19,200 MVA as of March 31, 2026. The Company also has five regional offices across India and a workforce of 526+ employees. Should you subscribe? According to AnandRathi research report, "The company offers exposure to the structural growth in India’s power transmission and distribution sector, supported by rising grid investments, renewable energy integration and increasing demand for high-voltage transformers. However, the high customer concentration, dependence on the Transformer Manufacturing Business and government/transmission utility orders warrant a measured outlook. At the upper price band, the company is valued at 38.6x FY26 P/E and 28.0x EV/EBITDA, implying a post-issue market capitalization of Rs 50,046 million. While the valuation is at a premium to Transformers & Rectifiers (India) Limited at 32.2x P/E and 20.8x EV/EBITDA, the premium is supported by Kanohar’s superior recent growth and profitability profile. Accordingly, we recommend a “Subscribe – Long Term” rating for the issue. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. 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Kanohar Electricals plans a ?300 crore IPO to boost transformer manufacturing capacity. The company's promoter stake will significantly decrease after the offering. Rising power demand and government initiatives are expected to benefit the business. However, significant customer and supplier concentration risks are present. Investors may observe financial performance post-listing before committing capital. View More

ET Intelligence Group: Kanohar Electricals, a transformer manufacturer , plans to raise ₹300 crore through a fresh issue to expand capacity and ₹755.7 crore through offer for sale. The promoter stake will fall to 74.9% after the IPO, including the pre-IPO anchor share sales to institutional investors from 99.7%. The company is expected to benefit from rising power demand and the government's push to expand electricity transmission. However, it faces significant customer and supplier concentration risks. Government entities accounted for 85% of revenue in FY26. Given these factors, investors may prefer to wait and watch the company's financial performance after listing. ET Bureau Business Incorporated in 1972, the company is a power equipment manufacturer focused primarily on transformers, with an EPC (engineering, procurement and construction) business providing solutions for substations and transmission lines. It caters to sectors such as power transmission, railways, renewable energy and power distribution. Transformer manufacturing contributed 83.4% to revenue in FY26, while EPC services accounted for the balance. It has two manufacturing facilities in Meerut, Uttar Pradesh with aggregate transformer manufacturing capacity of 19,200 MVA (Mega Volt-Amperes) as of March 2026, up from 15,000 MVA in FY24. Although capacity utilisation imporved to 46% in FY26 from 16.5% in FY24, it still remained low. Its order book increased to ₹1,818 crore as of March 2026 from ₹596 crore in FY24. The top five customers contributed 74% to revenue. On the supply side, its top three suppliers accounted for around 57% of raw material purchases. Read more: Ultravolt launch sparks sell-off in wire stocks; high-voltage players insulated Financials Revenue grew 54% annually to ₹653.8 crore in FY26 from ₹276.7 crore in FY24. Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) increased to ₹180.4 crore from ₹31.1 crore, while the EBITDA margin improved to 27.6% in FY26 from 11.2% in FY24, compared with peer range of 12%-27%. Net profit rose to ₹129.7 crore in FY26 from ₹17.8 crore in FY24. Return on equity increased to 42% in FY26 from 10.5% in FY24 compared with peer range of 19%-61%. Live Events Valuation The company seeks a price-earnings (P/E) multiple of 38.6 on post-IPO basis compared with a P/E of 33 for Transformers and Rectifiers, 81 for GE Vernova T&D India and 139 for Schneider Electric Infrastructure . .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

The BSE IPO index reached an all-time high, surging 35% in five months. Its SME counterpart also jumped 55%, marking a strong performance for recent listings. These gains significantly outpaced the broader market indices like Sensex and Nifty. However, the rally was concentrated, with a few stocks driving most of the gains. Retail and HNI investors are favoring fresh growth stories over established large-cap companies. View More

Mumbai: The BSE IPO index , a measure that tracks recent mainboard listings, surged 35% in the first five months of FY27, its strongest April-August performance in three years, to an all-time high on Monday, boosted by strong openings by a clutch of recent stock market debutants . The BSE SME IPO index jumped 55%, marking its best showing for the period in two years. The benchmark is 5% away from its record levels. The gains far outpaced the broader market. The Sensex and Nifty rose 6% each during April-August, while the BSE MidCap 150 gained 19% and the BSE SmallCap 250 climbed 29%. ET Bureau But the strong performance of the IPO indices masks a highly concentrated rally, with 15 stocks accounting for nearly 80% of the gains in the BSE's 73-stock IPO index. For BSE's 105-stock SME IPO index, 24 stocks contributed to about 89% of the rise in the benchmark The indices are designed to track relatively recent listings. A stock market debutant enters the BSE IPO index on the third day after listing and is generally removed after completing one year. In the case of the SME IPO index, a stock is included on the second day of listing and moves out after a year. An SME stock exits earlier if it migrates to the BSE Mainboard. Both indices are rebalanced monthly. Read more: Indian firms line up $7.7 billion in ECB proposals in July Live Events "Retail and HNI investors are opting for fresh growth stories over legacy large-cap names that carry FPI overhang, valuation baggage, and uncertain earnings visibility," said Rajesh Singla, CEO and fund manager at Alpha AMC & Planify. Of the 4661 points gained by the BSE IPO index between April and August, Meesho , Lenskart Solutions , Tata Capital , Billionbrains Garage Ventures, Rubicon Research, LG Electronics India, Physicswallah, Urban Company, Shadowfax Technologies, Sudeep Pharma, ICICI Prudential Assets, Aequs, Emmvee Photovoltaic Power, Fujiyama Power Systems and Clean Max Enviiro Energy Solutions together contributed 3,738 points. Of the 105 stocks in the BSE SME IPO index, 24 companies, including Zelio E Mobility, Indo SMC, Airfloa Rail Tech, Exato Tech, SK Minerals & Additives, LT Elevator, Aptus Pharma and Purple Wave Infocom, contributed 34,472 points to the index's 38,772-point rise, accounting for nearly 89% of the gains. The remaining 56 gainers added 6,520 points, while 25 stocks dragged the index down by 2,220 points. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)