In 2024, approximately 205 SME IPOs have raised around ₹7,000 crore, compared to ₹4,687 crore during the same period last year. Ashishkumar Chauhan, MD & CEO of the National Stock Exchange, emphasized the need for investors to make informed decisions rather than relying on tips, noting that many recent SME listings have underperformed, with some declining by 5-10%.
Bajaj Finance's recent performance showed muted earnings growth due to increased credit costs, which rose to 2.1% from 1.9% quarter-on-quarter. However, management believes credit costs have peaked, with expectations for earnings growth to align with asset growth by FY26. Sharekhan maintains a Buy rating with a revised target price of Rs 9,500, citing an attractive risk-reward scenario as headwinds are expected to recede.
As Diwali approaches, many look forward to gifts and bonuses, but it's essential to be aware that these could be taxable. This guide outlines the tax rules related to Diwali perks, offering expert tips on exemptions and strategies to minimize tax liabilities, ensuring a smarter celebration this festive season.
UBS has maintained a "Neutral" rating for Roche, setting a target price of 270 francs. Analyst Matthew Weston noted that the pharmaceutical company's third-quarter performance slightly exceeded expectations, with growth drivers remaining on track.
11:31 23.10.2024
The Clearway Capital creditors' group has expressed skepticism over GZO Spital Wetzikon's recent property valuation, which includes a write-down of up to CHF 127 million. They argue that this move is intended to intimidate creditors ahead of the crucial meeting on October 25, 2024, where the repayment of a CHF 170 million bond will be discussed. The group believes their own valuation, supported by industry experts, indicates that sufficient value exists to satisfy all creditors in the event of liquidation.
EFG Bank has appointed Daniela Walser as a client relationship officer for intermediaries in Vaduz. She will focus on developing a portfolio of intermediaries and will report to Ruurd Boomsma, the newly appointed head of intermediaries at the bank.
11:25 23.10.2024
Persistent Systems reported $345.5 million in revenues, a 5.1% quarter-on-quarter increase, surpassing estimates. EBIT margins remained flat at 14%, and total TCVs rose 14% quarter-on-quarter to $529 million. The company aims for $2 billion in revenue by FY27, maintaining a buy rating with a target price of Rs 6,200.
ICICI Securities has maintained a BUY rating on Zomato, setting a target price of INR 300. In Q2FY25, Zomato achieved over 20% YoY growth in food delivery, while the gross take rate slightly declined due to an increase in 'zero delivery fee' orders. The company is expanding its restaurant base and has approved a fund raise of up to USD 1 billion to strengthen its balance sheet.
The Sensex and Nifty closed lower amid concerns over Foreign Institutional Investors pulling out funds and a slowdown in Q2 earnings. Geopolitical tensions in the Middle East and uncertainties surrounding the US presidential election have further fueled market anxiety. Analysts suggest that while the correction was overdue, a phase of stabilization may be on the horizon.
Investing in top Indian business groups can provide steady, lower-risk growth or income, as these established companies have a proven track record. Currently, direct stock purchases are the primary method, but Tata Mutual Fund is seeking approval to launch a BSE Select Business Groups Index Fund, which will track the performance of the top 30 companies from seven major business groups in India. The fund will select stocks based on free-float market capitalization from the BSE 500 index.
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