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GoTo Group, Indonesia's largest internet firm, is closely monitored by retail investors for its financial performance, which is presented in interactive charts updated quarterly. Recent changes in reporting, particularly due to Tokopedia's deal with TikTok Shop, have affected the ecommerce metrics, which remain unupdated. The figures reported are based on actual earnings rather than pro forma adjustments, reflecting the company's current financial health.
Larsen & Toubro, Tata Power, and Procter & Gamble are among 77 companies releasing their Q2FY25 earnings today, with analysts noting mixed results leading to a downward revision in growth projections for the Nifty 50 index. L&T is expected to report a 12-19% increase in core profit, while Cipla's net profit rose 15.2% year-on-year, exceeding expectations. In contrast, Maruti Suzuki reported an 18.1% decline in net profit, attributed to tax liabilities and reduced demand for small cars, as market sentiment remains cautious amid ongoing earnings reports.
Swiggy Ltd has set a price band of Rs 371-390 per share for its IPO, which will open for subscription from November 6 to November 8. The total issue size is approximately Rs 11,327.43 crore, with a market capitalization of around Rs 87,299 crore. The IPO includes a fresh issue of Rs 4,499 crore and an offer-for-sale of 17.5 crore shares, valued at Rs 6,828 crore at the upper price band.
Europe's IPO market in 2024 has shown selective gains, with a few companies experiencing rising shares amid a backdrop of investor caution. While there has been a modest recovery in IPO volumes, the threshold for going public remains high, as investors prioritize established, profitable businesses over those promising future growth.
Pfizer reported a strong quarterly performance, reinforcing the CEO's efforts to regain confidence following previous challenges. The results highlight the company's resilience and strategic direction as it navigates a competitive pharmaceutical landscape.
Maruti Suzuki, Cipla, and the Adani Group are among 139 companies releasing their Q2FY25 earnings today, with Cipla expected to see a modest profit rise and Maruti facing challenges from declining volumes. Bharti Airtel reported a significant 168% Y-o-Y profit increase, while Sun Pharma's net profit grew by 28%. Indian equity indices opened slightly lower after a positive previous session.
India's IPO market is thriving, particularly among small and medium enterprises (SMEs), with nearly 600 IPOs launched this year, and 87% of SME IPOs in the first half of 2024 yielding positive returns. In stark contrast, major IPOs from well-known companies like Hyundai Motors and Ola Electric have struggled, with many failing to outperform the CNX 500. Experts warn that the current enthusiasm for smaller firms may be leading to inflated valuations, highlighting a shift towards thrill-seeking investments over solid fundamentals.
Godavari Biorefineries' IPO was fully subscribed on its final day, October 25, with a total subscription of 1.73 times the offer size. Qualified institutional buyers significantly supported the issue, subscribing 2.75 times their quota, while retail investors subscribed 1.56 times. However, the non-institutional investor segment was undersubscribed at 82%.
Horizon Robotics Inc. is set to debut in Hong Kong following a successful $696 million IPO, marking a resurgence in initial public offerings in the region. The Chinese company, specializing in autonomous driving systems, priced its shares at the top of the range amid strong demand from investors, including Baillie Gifford & Co. and Norway’s sovereign wealth fund. In pre-market trading, the stock surged by as much as 31%.
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