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Shares of Zensho Holdings Co., operator of the Sukiya beef bowl chain, surged by 7.7% in Tokyo following the announcement of a price increase for about 60% of its menu items, effective November 22. This decision comes in response to rising Japanese rice prices and follows a previous price hike seven months ago due to increased material, labor, and energy costs.
NTPC Green Energy has successfully raised Rs 3,960 crore through its anchor book ahead of its Rs 10,000-crore IPO, which opens for subscription on November 19 and closes on November 22. The IPO features a fresh issue of shares priced between Rs 102-108, with 36,66,66,666 equity shares allocated to anchor investors at Rs 108 each. Notable global institutional investors include Goldman Sachs, Morgan Stanley, and the Government of Singapore.
Long-term bond yields surged to their highest levels since May, with 30-year bonds rising to 4.68% and 10-year bonds to 4.47%. This increase is driven by investor reactions to Donald Trump"s election victory and expectations of Federal Reserve policy changes, alongside rising bond supply from corporate issuers.
Muthoot Finance shares surged nearly 8% following a strong quarterly profit and a milestone of over Rs 1 lakh crore in assets under management (AUM), driven by a significant demand for gold loans amid tighter RBI regulations on unsecured lending. The company's gold loan AUM reached a record Rs 86,164 crore, with most loans repaid within six months. Analysts from Bernstein and Morgan Stanley have expressed positive outlooks on the stock, citing improved market conditions despite some sectoral concerns.
PB Fintech's stock rose by 2% on November 6 after the company reported strong Q2 earnings, marking its fourth consecutive profitable quarter. Operational income surged 44% year-on-year to Rs 1,167 crore, with net profit increasing to Rs 51 crore from a loss of Rs 21 crore a year earlier, driven by a 69% growth in health and life insurance premiums totaling Rs 5,450 crore. However, the credit business experienced a revenue decline due to a shift in the product mix between secured and unsecured credit.
GAIL India’s stock surged 60% over the past year, outperforming the Nifty's 23% rise, following positive Q2 earnings. Morgan Stanley maintains an 'Overweight' rating with a target of Rs 258, citing strong RoE and growth catalysts, while Jefferies upgraded to 'Buy' with a target of Rs 240, highlighting a 7% YoY EBITDA increase and expanding market share from new pipeline projects.
ACME Solar Holdings raised Rs 1,300.5 crore from anchor investors ahead of its Rs 2,900-crore IPO, set to open on November 6 and close on November 8, with a price band of Rs 275-289 per share. The offering includes a fresh issue of Rs 2,395 crore and an offer-for-sale of Rs 505 crore by ACME Cleantech Solutions. Notable investors include Abu Dhabi Investment Authority, Goldman Sachs, and Morgan Stanley, among others.
Tata Power shares surged over 4% following the release of its Q2FY25 results, with several brokerages reaffirming 'Buy' ratings. Elara Securities raised its target price to Rs 518 and upgraded its rating, while Morgan Stanley set a higher target of Rs 577, citing benefits from power transmission capex and green investments.
IG Group Holdings plc has appointed Clifford Abrahams as Chief Financial Officer, effective December 16, 2024. Abrahams, who has extensive experience in financial leadership roles, joins from Virgin Money UK plc and has previously held CFO positions at ABN AMRO Bank and Delta Lloyd Group. His expertise is expected to support IG's growth strategy in fragmented markets.
UBS reported a net profit of $1.4 billion for Q3, significantly exceeding forecasts, driven by strong performance in investment banking amid buoyant market conditions. The bank also achieved a 5% rise in sales to $12.3 billion and is ahead of schedule in integrating Credit Suisse, despite ongoing challenges from past scandals. Looking ahead, UBS remains cautious about Q4, citing potential geopolitical uncertainties and a gloomy macroeconomic outlook.
Morgan Stanley
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Zensho shares rise as Sukiya announces price increase for menu items
04:36 19.11.2024
NTPC Green Energy secures 3960 crore from anchor investors ahead of IPO
18:29 18.11.2024
30-year bond yields reach highest level since May amid economic outlook concerns
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Muthoot Finance shares surge as gold loan demand drives record AUM growth
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08:46 18.11.2024
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18:36 05.11.2024
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09:57 31.10.2024
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11:44 30.10.2024
ubs reports strong q3 profit driven by investment banking recovery
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08:00 30.10.2024
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