Tue, Nov 12, 2024 6:10 PM
Australia’s Consumer, Business Sentiment Lift as Inflation Ebbs
A Flip by Avya Verma
Shares of Food delivery firm Swiggy on Wednesday listed at a 5.6% premium to its initial public offer (IPO) price of ₹390, making it the first company with issue size of over ₹10,000 crore in the past decade to have listed above the offer price. The stock closed 17% above its issue price at ₹455.95 in a weak market, surpassing analysts' expectations of a tepid debut.
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Cisco Systems Inc., the biggest maker of computer networking equipment, delivered better-than-expected quarterly results and an upbeat outlook for the current period, but a conservative annual forecast brought a muted reaction from investors. Sales will be $55.3 billion to $56.3 billion in fiscal 2025, which runs through July, Cisco said in a statement Wednesday.
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Stock and commodity exchanges have approved the Burman family's acquisition of Religare Broking, a subsidiary of Religare Enterprises, despite reluctance from REL's management. The Burman family, already the largest shareholder, plans to take over REL through an open offer, which has received approvals from the competition regulator and insurance watchdog.
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