Leading food delivery platform Swiggy has received a ‘Subscribe’ rating from Mehta Equities Ltd for its IPO, with the brokerage citing improved financials and market expansion as key factors. The company, valued at ₹87,299 crore at the upper price band of ₹390 per share, has demonstrated significant financial improvement by reducing its losses from ₹4,179.31…
Swiggy’s ₹11,327.43 crore IPO raises significant concerns as the food delivery platform has reported continuous losses since its 2014 inception, according to SAMCO Securities’ analysis. The Bengaluru-based startup confronts intense competition from Zomato in the food delivery sector, potentially impacting its market share and customer acquisition costs. Additionally, its business model heavily depends on retaining…
Macrotech Developers has acquired Bain Capital’s stake in three joint digital infrastructure platform entities for Rs 307 crore, the company said, as part of its strategy to increase its control on its industrial and logistics assets. The three entities in which it has acquired stakes are Bellissimo Digital Infrastructure Development Management, Palava Induslogic 4, and…
Swiggy IPO has been subscribed 34 per cent or 0.34 times so far on the second day. The IPO opened on Wednesday saw a muted response from investors with a 12 per cent subscription. As at 3.39 pm on November 7, 2024, the QIB portion has been subscribed 0.28 times, NIIs 0.12 times, retail portion 0.81…
Bajaj Broking has recommended a “Subscribe for Long Term” rating for food delivery giant Swiggy Limited’s initial public offering (IPO), citing persistent losses despite revenue growth. The IPO is priced between ₹371 and ₹390 per share. The company reported revenue of ₹11,634 crore in FY24, while losses decreased to ₹2,350 crore. Bajaj Broking’s analysis…
Indian equity benchmarks extended their losses in afternoon trading on Thursday, with the BSE Sensex plunging 782.84 points to 79,595.29 and the NSE Nifty dropping 262.10 points to 24,221.95, marking a decline of 0.97 per cent and 1.07 per cent respectively. Metal and technology stocks led the downturn, with Hindalco Industries emerging as the biggest…
M Damodaran, Chairperson of Excellence Enablers and Former Chairman of SEBI, has made a case for revisiting the r selection and appointment process for persons in regulatory positions. According to him, nothing in law prevents a person from the private sector from heading a regulatory organisation, and there have been several instances in the past…
Earlier today, businessline had said in an article that the rally that the Indian stock markets saw on November 6, was unlikely to sustain. It took its cue from the Gift Nifty at 24,450 which signalled a gap-down opening of about 130 points as Nifty futures on Wednesday closed at 24,587. Analysts had said that…
Brokerage Motilal Oswal acknowledged that Swiggy pioneered the hyperlocal commerce industry in India, launching food delivery in 2014 and quick commerce in 2020, and is well-recognised as a leader in innovation. Swiggy operates in an oligopoly market which is at a nascent stage, thus providing enough opportunities for players to create their niche. Motilal analysts…
Target: ₹580 CMP: ₹513.10 Saregama India’s strong headline numbers masked the weakness in music licensing revenue. Consolidated revenue grew 40.3 per cent y-o-y, aided by strong growth in the video segment. Music Licensing revenue growth was soft, up 8 per cent y-o-y in Q2, despite the impact of select platforms moving to a paid model…
