Apollo Green Energy, an EPC company focused on renewable energy solutions, is planning an initial public offer even as it is working to achieve a portfolio of ₹10,000 crore by 2025, it said in a release. The company, part of the Raaja Kanwar-promoter Apollo International Group, currently has an order book of ₹3,500 crore in…
Rane Holdings Limited, the Chennai-based auto components manufacturer, reported a 263 per cent jump in consolidated net profit to ₹185.4 crore for the second quarter ended September 30, 2024, compared to ₹51.1 crore in the same period last year. The surge was primarily driven by exceptional items related to settlements with NSK Ltd. Japan. The…
The number of filings for initial public offerings (IPOs) this year has touched a record, surpassing the previous high set three years ago. Total filings until October stood at 132, higher than the 126 seen in the whole of 2021. The September quarter alone saw 75 filings. Growth drivers The hot streak for IPOs has…
The Centre will sell up to 2.5 per cent stake in Hindustan Zinc at a floor price of ₹505 per share – a 10 per cent-odd discount over the current price – through an Offer for Sale (OFS) starting November 6, the Ministry of Mines has said in a notification to the bourses. The sell…
There is going to be a substantial change or decrease in derivative volumes, specifically index options, going forward, the NSE chief said on Tuesday. The discontinuance of Bank Nifty weekly expiry will contribute the most to a decline in overall option index volumes, Ashishkumar Chauhan said in an analyst call. However, he reiterated that only…
Indian equities staged a strong recovery on Tuesday amid expectations of stimulus measures from China and short covering ahead of the US election results. The Sensex closed at 79,476, gaining 694 points or 0.88 per cent, while the Nifty advanced 0.91 per cent to end at 24,213. The recovery came after Monday’s decline, with markets…
Target: ₹1,970 CMP: ₹1,832.45 Gland Pharma delivered better-than-expected operational performance for the quarter. Despite increased EBITDA loss at Cenexi y-o-y/q-o-q and a lower share of the milestone income, the overall EBITDA margin was better-than-expected at 21.1 per cent, led by better segmental mix and controlled operational cost for the quarter. We cut our earnings estimate…
Target: ₹3,112 CMP: ₹2,053.90 In Q2-FY25, MPS reported a revenue growth of about 37 per cent on a y-o-y basis alongside a sharp recovery in the overall EBITDA margins by 739 bps on a q-o-q basis. Revenue growth was driven by strong performance in the Content and Platform solutions, both segments growing at about 37…
Indian equity benchmarks staged a strong recovery on Tuesday, erasing previous session’s losses, driven by robust performance in metal and banking stocks amid positive cues from Asian markets and expectations of stimulus measures from China. The BSE Sensex closed at 79,476.63, gaining 694.39 points or 0.88 per cent, while the NSE Nifty 50 advanced…
Unit price of Embassy Office Parks REIT fell over 2.7 per cent during the day after Aravind Maiya stepped down as its Chief Executive Officer, as per SEBI’s interim order on Monday. The markets regulator had directed his removal as the CEO, saying that he was not a ‘fit and proper person’ to lead the…
