GIFT Nifty, which stands as a new benchmark to the growth story of the Indian equity market, recorded its highest ever monthly turnover of 21.23 lakh contracts worth Rs 7,97,714 crore or US $95.55 billion during the month of June. This is an all-time high monthly turnover for GIFT Nifty, surpassing its previous record of … Read more
Mumbai: Warburg Pincus-backed Ecom Express is looking to enter the primary market with a ₹3,000-crore initial public offering (IPO), according to two people aware of the development. The third-party logistics company has appointed bankers including Kotak Capital, IIFL, Axis Capital, and UBS, according to one of the sources. “Ecom Express has initiated the process for … Read more
While noting that Zomato is well ahead of IPO-bound peer Swiggy, global brokerage firm CLSA has a target price of Rs 248 per share on the new-age stock. Prosus, which holds a 32.7% stake in Swiggy, in its annual results release, disclosed that Swiggy’s overall GMV growth (including food delivery, quick commerce, and dining out … Read more
Brokerage Morgan Stanley remains bullish on new-age businesses like Zomato, Policy Bazaar, Nykaa, Paytm and Delhivery, despite the recent jump in the stock prices. The firm sees up-move of 7% to 35% in these stocks. “We see macro factors aligning (multiple re-rating for growth stocks in India and other regions, tight PE/VC money keeping the … Read more
Goldman Sachs Singapore Pte sold 44.20 lakh shares of One 97 Communications on Tuesday via block deal at a price of Rs 183.44 crore. The private equity firm sold Paytm shares at Rs 415.04 apiece, which was at a discount of 2.3% over Friday’s closing price of Rs 424.90. On Tuesday, Paytm shares ended at … Read more
Paytm shares surged 4% to Rs 442 in Tuesday’s trade on BSE following reports that the company is in talks with Zomato to sell its movie ticketing business. Zomato shares also rose 1.5% in early trade.In an exchange filing, Zomato acknowledged, “We are in discussions with Paytm for the aforementioned transaction, but no binding decision … Read more
Brokerage firms such as JPMorgan maintained an overweight rating on Zomato, while Nomura maintained a buy rating on M&M, CLSA has a buy rating on Vedanta and Jefferies recommended a buy on Infosys.We have collated a list of recommendations from top brokerage firms from ETNow and other sources:JPMorgan on Zomato: Overweight | Target: Rs 208Global … Read more
Domestic indices Sensex and Nifty hit their new closing lifetime highs on Friday, following buying in market heavyweights. In today’s trade, shares of Zomato, Paytm, HAL, Som Distilleries, Adani Enterprises, TCS among others will be in focus due to various news developments. APL Apollo TubesThe National Company Law Appellate Tribunal (NCLAT) has directed the NCLT … Read more
Hyundai Motor’s Indian business filed draft papers on Saturday for what could be one of India’s biggest initial public offerings (IPOs), which the South Korean automaker said was aimed at increasing its brand image and providing liquidity in the country. Here are some of India’s largest IPOs: * LIFE INSURANCE CORPORATION OF INDIA (LIC) State-owned … Read more
With the proposed changes in criteria for stocks to be eligible for the futures and options segment, around 25 stocks are likely to be excluded from the current list, while nearly 78 are likely to find place in the segment, according to analysts’ estimates. Sebi has proposed changes for the eligibility of F&O stocks which … Read more
