Author: Tanya Mishra

Swiggy’s highly anticipated initial public offering (IPO), which is seeking to raise approximately Rs 11,327 crore in the primary market, opened on Wednesday 6, November. The food delivery and quick-commerce platform has set an upper price band of Rs 390 per share. The IPO values the company at around Rs 95,000 crore. Swiggy IPO Structure The issue includes a fresh share issuance worth Rs 4,499 crore, alongside an offer for sale (OFS) of shares totaling Rs 6,828 crore. Swiggy’s business model primarily revolves around a B2C marketplace that connects users with various restaurant and merchant partners who list their offerings…

Q2FY24 results rolled out for Mankind Pharma. There is a strong Year-on-Year (YoY) increase in net profit by 30%, reaching Rs. 653.5 crore. Additionally, the total revenue rose by 13.6% to Rs. 3,076.51 crore. As per the sources, the gains in chronic product sales and expanding exports have driven this growth in revenue and profit. However, there has also been a slowdown in domestic sales due to weakness in the acute segment. Key Report Highlights (Q2FY24 vs Q1FY24) – FactorQ2 – FY24Q1 – FY24Total RevenueRs. 2,708.10 croreRs. 2,578.62 croreSelling/General/Admin ExpensesRs. 571.96 croreRs. 552.91 croreDepreciation/AmortizationRs. 96.48 croreRs. 87.35 croreOther Operating ExpensesRs.…

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) fell on Tuesday opening by nearly 3% to Rs 792.45 on the Bombay Stock Exchange (BSE), despite the company reporting a modest 4% year-on-year rise in net profit for the second quarter on Monday. To be sure, the company’s net profit for the quarter ended September 2024 stood at Rs 308 crore, up from Rs 295 crore in the same quarter a year before. On the other hand, the state-run railway services provider saw its revenue from operations increase by 7.2% to Rs 1,063.99 crore from Rs 992.40 crore during the…

Gland Pharma shares went up by over 13% on November 5, 2024. The steep rise resulted after the quarterly results for the company from July to September. However, even after this surge in the shares, Gland Pharma has been significantly lagging behind the Nifty Pharma index. Overall, the index witnessed a 50% increase in 2024. This gap has been highlighted by the analysts at Kotak Institutional Equities (KIE). They also suggested that the underperformance limits the downside potential for Gland Pharma’s stock. As of 12:54 pm IST on November 5, 2024, Gland Pharma shares traded at Rs. 1,803 on the…

Raymond Ltd shares rose on Tuesday after the company reported strong second-quarter results on the back of substantial gains in its real estate and engineering businesses. Raymond shares opened the trading with a gain of 2.7% at Rs 1,735.45 on the National Stock Exchange. Over the past 12 months, Raymond shares have declined by roughly 10%, compared with Nifty’s 23% rise. To be sure, the company’s consolidated net profit for the quarter surged over 100% year-on-year (YoY) to Rs 59 crore for Q2 FY25, while total revenue from operations more than doubled to Rs 1,044.7 crore. At the same time,…

Niva Bupa Health Insurance is a joint venture between Bupa Group and Fettle Tone LLP, founded in 2008. Since then, it has been a top provider of comprehensive health insurance services. This includes both individual and group insurance solutions that it serves via its app and website. The much-awaited IPO of Niva Bupa Health Insurance is set to open on November 7, 2024, with a price band of Rs. 70 to Rs. 74 per share. The 3-day IPO subscription window will stay open till November 11, 2024. The investors will have the provision to subscribe within this whole period. This…

GPU (graphics processing unit) maker Nvidia is set to replace chipmaker Intel in the Dow Jones Industrial Average, a change that evidently points out the rapid rise of artificial intelligence (AI) and marks a pivotal moment in the semiconductor sector. The switch will take effect on November 8, 2024, alongside Sherwin Williams taking the place of Dow Inc., according to S&P Dow Jones Indices. Following a strong financial performance on the back of the AI boom, Nvidia’s shares have skyrocketed more than 170% in 2024, adding to a 240% surge last year, which has propelled its market capitalization to an…

Shares of two-wheeler giant Bajaj Auto fell sharply on Monday, November 4, 2024, after the company reported a significant decline in domestic sales for the month of October 2024. To be sure, the Pune-headquartered automotive manufacturing company’s domestic sales declined by 8% year-over-year, with 303,831 units sold compared to 329,618 units in October 2023. The decline in sales weighed heavily on investor sentiment as the stock was down by 4.54% at Rs 9,429.80 per share in mid-morning trade, underperforming the broader BSE Sensex, which was also down 1.37%. The market capitalisation of Bajaj Auto stood at Rs 2.63 lakh crore,…

Maruti Suzuki India Ltd, the country’s largest carmaker, is banking on a buoyant Diwali season to recover from a challenging second quarter which saw the company’s net profit decline 18% to Rs 3,069 crore. The company’s bottom line was impacted mainly by tax provisions linked to the Finance Act of 2024. But the hit to profitability came as a double whammy with the first one being a slow growth in the broader automotive sector. To be sure, India’s passenger vehicle (PV) sales recorded a mere 0.5% rise in the first half of FY25, below initial industry forecasts of 3-4%. However,…

Bharti Airtel, the lead telecom operator in India, rolled out its Q2 FY25 reports. The data shows a significant rise in its net profit. A higher Average Revenue Per User (ARPU) and increased tariffs in its Indian operations have proven to be the key driving factors. For the same period a year back, Airtel’s net profit stood at Rs. 1,341 crore and has surged significantly on a yearly basis to reach Rs 3,593 crore, as noted in the company’s latest exchange filing. In India, Airtel’s ARPU rose to Rs. 233. This increase shows the company’s continuous efforts to optimize its…