Construction company Deepak Builders & Engineers India has disappointed investors with its listing performance as shares corrected 20 percent on the debut day, October 28, despite healthy IPO subscription numbers. The stock started off at Rs 200 (which was also its day's high) on the NSE, lower by 1.5 percent compared to issue price of Rs 203.
Open FlipApollo Micro Systems Ltd (AMSL) reported a two-fold increase in its consolidated profit after tax, reaching approximately Rs 16 crore for the second quarter ended September 2024, driven by higher income. The company had recorded a profit after tax (PAT) of Rs 6.55 crore in the July-September quarter of the previous fiscal, AMSL said in a statement on Monday.
Open FlipTarmat Limited has been awarded a contract worth Rs. 23,90,55,919 to construct Taxiway M (Phase 1) and other works at the Airside of Chhatrapati Shivaji Maharaj International Airport (CSMIA), Mumbai. This domestic contract, awarded by Mumbai International Airport Limited, requires Tarmat Limited to complete the civil works within six months from the date of the Notice to Proceed.
Open FlipAccording to GlobalData's 2023 Financial Services Consumer Survey, carried out in Q2 2023, the Chinese e-commerce market is anticipated to grow at a compound annual growth rate (CAGR) of 9.9% between 2024 and 2028 to reach CNY25.4trn ($3.6trn) in 2028, driven by the ongoing shift in consumer preference from offline to online shopping. Ravi Sharma, lead banking and payments analyst at GlobalData.
Open FlipBharatPe, the payments and lending fintech firm, has introduced a new standalone investment app—Invest BharatPe-- to host company’s investment offerings, including the popular P2P lending product ‘12% club’ which now stands rebranded under the new app. This comes few months after P2P lending platforms like Liquiloans, Lendenclub, Faircent, Lendbox, among others, and their consumer facing apps.
Open FlipOn October 28, Domestic Institutional Investors (DII) net bought shares worth Rs 1,401 crore. On the other hand Foreign institutional investors (FIIs) net sold shares worth Rs 3228 crore, provisional data from NSE showed. DIIs bought Rs 12,258 crore worth of shares and sold shares worth Rs 10,857 crore. Meanwhile, FIIs purchased Rs 13,393 crore in shares.
Open FlipGillette India reported a strong 43.5% increase in profit to ₹133 crore for the second quarter ending September 2024, led by widespread growth in its core grooming segment. This marks a significant rise from the ₹92.69 crore profit reported in the same quarter last year. The company, known for its razors and shaving creams, attributed the surge in profitability to strong demand.
Open FlipGetnet, a payment solutions provider of Santander, has launched Getnet SEP, a new e-commerce payment solution serving as a single entry point (SEP) for merchants operating across Brazil, Argentina, Chile, and Mexico. This service simplifies the integration process for a range of payment services, offering a single, direct connection to Getnet's offerings.
Open FlipBASF and AM Green B.V. have signed a MoU to explore business opportunities in low-carbon chemical production using renewable energy sources in India. This MoU, signed by Dr. Markus Kamieth, Chairman of the Board of Executive Directors of BASF SE, and Mahesh Kolli, Group President of AM Green, was formalized at the Asia-Pacific Conference of German Business 2024 in New Delhi.
Open Flip📌Bharat Heavy Electricals Ltd is currently trading at Rs 231.05, marking a 6.55 per cent rise from the previous close of Rs 216.85. 📌Canara Bank Ltd is trading at Rs 101.3, up 7.49 per cent from the previous close of Rs 94.24, achieving a daily high of Rs 101.5. 📌Bandhan Bank Ltd is trading at Rs 184.35, reflecting a 9.60 per cent increase from the previous close of Rs 168.21.
Open FlipFavourable agricultural conditions coupled with expectations of a better harvest will likely push rural demand up in the coming months, the finance ministry said in its September economic review, released on October 28.“Going forward, favourable agricultural conditions, a rise in MSP for Rabi crops, better crop harvest and continued Government support for enhancing rural welfare.
Open FlipPrivate news broadcaster Zee Media reported a wider consolidated net loss of Rs 49.86 crore for the second quarter ended September 2024.The company had recorded a net loss of Rs 30.70 crore in the July-September quarter of the previous fiscal, according to a regulatory filing from Zee Media Corporation Ltd (ZMCL).Its revenue from operations dropped 13.78% to Rs 130.70 crore during the quarter.
Open FlipLIC Housing Finance reported a solid Q2 FY2025 performance, with net profit after tax rising by 12% year-on-year to ₹1,328.89 crore, driven by stable growth in both home and project loan disbursements. Total disbursements increased by 12% to ₹16,476 crore, supported by a significant 223% surge in project loans, which reached ₹1,397 crore compared to ₹433 crore in the same quarter last year.
Open FlipIndian FMCG stocks have been the worst performers in October, primarily due to a combination of factors that have adversely affected investor sentiment. The poor performance in the September quarter has raised concerns among analysts and investors, as several leading FMCG companies reported results that fell short of expectations. This has led analysts to revise their target multiples downward.
Open FlipMonte Rosa Therapeutics stock surges after announcing a global exclusive development and commercialization license agreement with Novartis for VAV1 MGDs, including MRT-6160, with Novartis paying $150 million upfront and up to $2.1 billion in milestones, and Monte Rosa eligible for tiered royalties on ex-U.S. net sales.
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