New Delhi: Japan’s Softbank investment arm Softbank Vision Fund exited from Paytm in the June quarter at a loss of around USD 150 million, sources aware of the development said. Softbank invested about USD 1.5 billion in One97 Communications — the owner of Paytm brand — in tranches in 2017. “Softbank has exited Paytm at … Read more
Right now is a weird time to be Tesla. On the one hand, sales are flagging, the company’s newest vehicle is an absolute mess, and its flagship software only works for an elite few. On the other, the stock keeps climbing, with Tesla’s market cap now well over $800 billion. As it turns out, we have … Read more
The shares of Divine Power Energy debuted on the NSE SME platform on Tuesday with a premium of 287.5%. The stock listed at Rs 155 as against an offer price of Rs 77. Ahead of the listing, the company’s shares traded with a premium of Rs 60 in the unlisted market. The IPO, which was … Read more
Calling it a ‘potent fusion’, domestic brokerage firm Kotak Institutional Equities (KIE) initiated coverage on JB Chemicals and Pharmaceuticals (JBCP) as it sees an upside growth potential of 12.4% in the stock. KIE has a ‘buy’ call on the stock with a target price of Rs 2,025. The domestic brokerage believes that JBCP offers a … Read more
UltraTech Cement’s Rs 1,885 crore stake purchase in India Cements is expected to be mutually beneficial for both companies and would consolidate its position in South India at a time when the Adani Group’s acquisitive spree is intensifying competition between the two players. This deal can be mutually beneficial for UltraTech Cement and India Cements … Read more
The shares of Akme Fintrade will list on the exchanges on Wednesday. Ahead of the listing, the company’s shares were trading with a GMP of Rs 18 in the unlisted market. Considering the upper price band of Rs 120, the stock is expected to list at a premium of 15% over the issue price. However, … Read more
Shares of India’s software services exporters on Friday rallied up to 4% during the day as quarterly results of global peer Accenture had a few positive elements such as strong bookings growth and acceleration in growth rates. Shares of Persistent Systems was the top gainer as it rallied over 4% to day’s high of Rs … Read more
Puravankara’s board of directors on Thursday approved a Rs 1,000 crore fundraising plan via the qualified institutional placement (QIP) mode in one or more tranches. The Instruments to be issued under QIP could be equity shares or debentures. The Bengaluru-based real estate developer has projects in major Indian cities including Bengaluru, Mumbai, Pune, Goa, Hyderabad, … Read more
Kronox Lab Sciences witnessed a decent listing at the bourses on Monday with a 21% premium over the issue price. Even though it is a positive start, the debut fell short of pre-listing expectations, fuelled by the initially high grey market premium (GMP) that had declined steadily in the days leading up to the listing. … Read more
Ashok Leyland Ltd, part of the automobile space, has fallen by over 10% from its recent high recorded in August 2023 and the chart pattern suggests that the weakness could continue.Short -to medium-term traders can look to sell the stock now for a possible target towards 150 levels in the next 1-2 months, suggest experts. … Read more
