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Zepto secures 350 million dollars to boost domestic shareholding before IPO
Quick commerce unicorn Zepto has raised $350 million in a funding round led by Motilal Oswal’s Private Wealth division, aiming to boost domestic shareholding ahead of a potential IPO next year. The round retained the company's valuation at $5 billion, with participation from notable investors including family offices and celebrities like Abhishek Bachchan and Sachin Tendulkar.
quarterly earnings reports reveal mixed results across various sectors
The Q2 earnings season for FY25 is underway, with major companies like Apollo Hospitals, Kansai Nerolac Paints, and Trident set to release their results. While many firms have reported, the overall corporate earnings scorecard has been weak, with only 62% meeting or exceeding profit expectations, particularly in the consumption sector. Notably, GAIL's earnings missed expectations due to lower gas trading margins, while Power Grid's profit remained flat year-on-year.
Mankind Pharma reports 30 percent profit increase driven by chronic drug demand
Mankind Pharma reported a 30% increase in net profit for Q2, reaching Rs 653 crore, surpassing analyst expectations of Rs 590 crore. The growth was fueled by rising demand for chronic illness medications, which now account for 35% of total revenue, contributing to a 14% overall revenue increase. On November 5, shares closed at Rs 2,709, down 0.81%.
Mankind Pharma has successfully acquired Bharat Serums and Vaccines Ltd for Rs 13,768 crore, enhancing its position in the Indian women's health and fertility drug market. This acquisition also provides access to high-entry barrier products in critical care, bolstered by BSV's strong R&D capabilities and diverse product portfolio. Mankind Pharma's Vice-chairman and Managing Director, Rajeev Juneja, welcomed BSV's 2,500 employees, marking a new chapter for the company.
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