Author: Tanya Mishra

Star Health and Allied Insurance Company Ltd, on Wednesday, reported an 11.18% decline in its net profit for the second quarter of FY25 to Rs 111.29 crore compared to Rs 125.30 crore in the same quarter last year. The decline in profitability comes on the back of challenges within the insurance industry, particularly due to shifting consumer behavior post-COVID, as noted by the company in its results. The company’s revenue from operations, however, grew by 15.54% year-over-year to Rs 3,703.88 crore for Q2 FY25, as opposed to Rs 3,205.58 crore in the same quarter previous year. The revenue growth was…

India’s leading automaker Maruti Suzuki India Ltd. (MSIL), on Tuesday, reported an 18% decline in its net profit for the second quarter of the ongoing financial year at Rs 3,103 crore. On the other hand, the company’s revenue from operations for the July-September quarter grew 0.3% year-on-year to Rs 37,449 crore from Rs 37,062 crore in the same quarter last year. The fall in profit affected Maruti Suzuki’s stock price which declined 4.16% on NSE on Tuesday’s close. To be sure, the primary hit to the company’s quarterly profit stemmed from a deferred tax liability amounting to Rs 1,018 crore.…

Swiggy, one of India’s top food delivery platforms, is gearing up for its highly anticipated initial public offering (IPO), which will open to public subscription on November 6 and close on November 8. Anchor investors are invited to bid on November 5, marking the first stage of an IPO in which Swiggy is expected to raise around Rs 11,300 crore. Swiggy’s public offering comprises two parts: a fresh issue of shares valued at Rs 4,500 crore and an Offer for Sale (OFS) of shares worth Rs 6,800 crore from existing investors. The OFS will see its shareholders such as Accel…

The Afcons Infrastructure Limited IPO, launched on October 25, 2024, is open for applications until October 29, 2024, leaving just two days for prospective investors to apply. As of Day 2, the IPO has seen a subdued response from the market, with subscription rates pointing towards caution among investors despite endorsements from multiple brokerages, including Anand Rathi, Geojit Securities, KR Choksey, and Mehta Equities, who have issued a “subscribe” recommendation. GMP Movement and Market Sentiment Today’s Grey Market Premium (GMP) for Afcons Infrastructure is at around Rs 18. The GMP has witnessed a significant dip from the weekend’s Rs 59…

Shares of Deepak Builders & Engineers India Ltd (DBEIL) debuted on a muted note on Monday, listing at Rs 198.50 on the BSE with a 2.2% discount to the issue price of Rs 203. On the National Stock Exchange (NSE), shares opened with a 1.4% dip at Rs 200. This performance sharply contrasts with expectations fueled by a grey market premium (GMP) that suggested listing gains of over 15.76%. However, instead of rallying, Deepak Builders’ stock continued to slip after listing as it fell 14.1% to Rs 171.60 on the NSE by 10:29 AM. The IPO offered a price band…

India must build more research opportunities to retain its AI talent, said Yann LeCun, Meta’s Chief AI Scientist, on Thursday at an industry event organized by Nasscom in Delhi. LeCun listed the challenges posed by limited research roles and the brain drain and urged Indian companies to create a research-driven culture similar to that of Meta’s FAIR team, Google Research, or Microsoft Research in the country itself. To be sure, India’s brain drain is a phenomenon where Indian students and professionals with talent and skills leave the country to work or study elsewhere. It results in a loss of human…

US-based chipmaker Nvidia and Indian oil-to-telecom conglomerate Reliance Industries said on March 24 that they are partnering to build advanced artificial intelligence (AI) infrastructure in India – a move that will have a significant impact on the country’s AI capabilities. Nvidia’s CEO Jensen Huang made the announcement on October 24, 2024, during the Nvidia AI Summit in Mumbai, in conversation with Reliance Chairman Mukesh Ambani. It makes complete sense that India should manufacture its own AI. You should not export data to import intelligence,” said Huang. He noted India’s potential to lead in AI development and added, “India should not…

Two of the world’s wealthiest individuals, Elon Musk and Mukesh Ambani, are preparing for a high-stakes showdown over India’s satellite broadband sector – a growing market that promises to change the way millions of Indians use the internet in the country. To be sure, the Indian government recently decided to allocate satellite spectrum for broadband services administratively and bypass the traditional auction model in which telecom companies bid for airwaves. However, the move to allocate satellite spectrum without an auction has sparked controversy. Ambani’s Reliance Jio, which is the leading telecom provider in India, has been vocal in opposing this…