Blue Jet Healthcare's Initial Public Offering (IPO) is set to commence on Wednesday, October 25 and conclude on Friday, October 27, with a listing expected on both exchanges. The announcement follows a period of strong Q2 results that showcased double-digit net profit growth. This surge was primarily driven by the robust performance of the banking and finance sectors and the low base from last year, although software exporters did not perform as well.
Investors are currently awaiting a response from the Securities and Exchange Board of India (SEBI) concerning Brickwork Ratings' sudden downgrades of bonds. NLC India Ltd's bonds have been particularly affected by this unexpected downgrade.
In other market news, multinational companies based in the Netherlands, Switzerland, and France could face retrospective tax demands totaling ₹11,000 crore. This comes after a recent Supreme Court ruling on dividends repatriated from India.
InvestingPro data shows that Blue Jet Healthcare's market cap stands at 2514.94M USD and the company has been experiencing a gross profit margin of 22.41%. Despite these promising figures, the company's stock has taken a significant hit over the last week, with a 1 Week Price Total Return of -5.0%, according to InvestingPro Tips. Over the last twelve months, the company has not been profitable, and its price has performed poorly over the last decade.
However, it's worth noting that Blue Jet Healthcare has an impressive gross profit margin, which could be an encouraging sign for potential investors. The company is trading at a high revenue valuation multiple, indicating that investors may be expecting high growth from the company in the future.
For more insights like these, you can check out the InvestingPro product that includes additional tips. There are more than seven tips available for Blue Jet Healthcare on InvestingPro.
As the company's next earnings date is set for October 26, 2023, investors will be keenly watching this IPO and the company's subsequent performance on the market. The fair value of the company, according to analyst targets, is 16.96 USD, while InvestingPro's fair value estimation stands at 30.75 USD.
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