Swiggy IPO opened for subscription today, November 6, 2024. The IPO targets ₹11,327.43 crore through a combination of fresh issue worth ₹4,499 crore and offer for sale of 17.51 crore shares worth ₹6,828.43 crore. As at 3.45 pm on day 1, the IPO was subscribed 11 per cent or 0.11 times. Retail investors subscribed 0.51…
The relentless selling by foreign portfolio investors in Indian equities has not deterred promoters, private equity investors and other investors from monetising their stakes in companies and sell-downs through bulk and block deals have doubled in 2024 year to date at over $67 billion. In the same period last year, sell-downs aggregated to a little…
Target: ₹3,880 CMP: ₹3,177.50 Titan Company’s Q2-FY25 y-o-y sales growth and commentary on Q3 growth were strong. However, jewellery margins were below our estimate, and it lowered its FY25 core jewellery EBIT margin guidance to 11-11.5 per cent from 11.5-12.5 per cent. Titan expects margins to recover in H2-FY25. We expect Titan to deliver a…
Target: ₹1,449 CMP: ₹1,303 Dr Reddy’s quarterly earnings were above our expectations on the revenue front but lower on earnings. On the revenue front, DRRD reported the highest-ever quarterly revenue of ₹8,038.20 crore, with a robust y-o-y growth of 16.5 per cent and 4.4 per cent q-o-q, the increase was mainly driven by growth in…
Cyient DLM Limited, an integrated electronics manufacturing solutions provider, has won a long-term contract with Honeywell Aerospace Technologies to develop liquid cooling loops for aircraft cooling systems. The 16-year program, announced on November 6, 2024, focuses on Honeywell’s new micro vapor cycle system (Micro VCS) technology. The shares of Cyient DLM Limited were trading…
Indian equity benchmarks closed sharply higher on Wednesday, with the Sensex breaching the 80,000 mark and Nifty approaching 24,500, driven by strong performance in IT stocks as early U.S. election results pointed to Donald Trump’s potential return to presidency. The BSE Sensex jumped 901.50 points or 1.13 per cent to close at 80,378.13, while the…
Godawari Power and Ispat Limited (GPIL) announced today its entry into OPVC pipe manufacturing with a planned investment of ₹125 crore. The company’s board approved setting up a new unit to manufacture OPVC pipes, which are cost-effective alternatives to ductile iron pipes. Upon reaching full capacity, the company expects to add ₹200 crore annually to…
Bharti Airtel marked two significant expansions on November 6, with its subsidiary Nxtra becoming India’s first AI-powered data centre operator and the company extending mobile connectivity to strategic military outposts along the Indo-China border. The shares of Bharti Airtel Limited were trading at ₹1,591.60 up by ₹13.20 or 0.84 per cent on the NSE today…
The shares of The Indian Hotels Company Limited (IHCL) were trading at ₹682.55 up by ₹14.55 or 2.18 per cent on the NSE today at 11.55 am. The Indian Hotels Company Limited (IHCL) announced the acquisition of a majority stake in Tree of Life’s operating company, partnering with the Ambuja Neotia Group yesterday November 5….
Indian benchmark indices continued their upward momentum in afternoon trading on Wednesday, with the BSE Sensex breaching the 80,000 mark. The 30-share index traded at 80,197.59, up 720.96 points or 0.91 per cent from its previous close, while the broader NSE Nifty gained 209.40 points or 0.86 per cent to reach 24,422.70 as of 12.34…
