Ashok Leyland is expanding its network in the North and East regions of the country. It plans to launch electric LCVs in the coming months and has reported record financial performance for the past nine months. The company has tied up with TVS Group to expand its presence in the National Capital Region and aims to have 1,000 authorized service centers and dealerships in the future.
Open FlipUPSIDA is conducting a mega e-auction of 84 industrial plots ranging in size from 2,426.97 sqmt to 53,563 sqmt across key districts in UP. These plots will serve as hubs for industrial, warehousing, commercial, and flatted factory operations, with a nominal EMD of Rs 50,000. The auction process is aligned with the state government's vision for robust industrial growth.
Open FlipFintech firm One97 Communications, which owns the Paytm brand, has reassured merchants that their services will continue without disruption despite the recent crisis surrounding its associate company Paytm Payments Bank Limited. The company received support from key industry players like Arvind Limited and BIBA Fashion, solidifying its role in India's fintech revolution.
Open FlipThe stock market is expected to continue consolidating in the coming days, with support at 21,600-21,500 and resistance at 22,050. Experts say that if the index breaks support, selling pressure may extend to 21,300, but surpassing resistance could lead to a new high. On February 9, the BSE Sensex rose 167 points to 51,595, while the Nifty 50 was up 64 points to 21,783.
Open FlipAkums Drugs and Pharma is planning to raise funds through an IPO, with a combination of fresh issue of equity shares and offer-for-sale by promoters and existing investors. The company intends to use the proceeds to repay debt, fund working capital, pursue acquisitions, and for general corporate purposes. It is a CDMO providing pharmaceutical products and services in India and internationally.
Open FlipIndia's Unified Payments Interface (UPI) will be launched in Sri Lanka and Mauritius on Feb 12, expanding its reach beyond the existing countries where it is already accepted or linked to their fast-payments network. PM Modi, Presidents of SL & Mauritius, and CB governors will launch this service which will also include RuPay card services in Mauritius.
Open FlipBajaj Finance's underperformance in the market is causing confusion among investors and analysts. While some brokerages remain optimistic about its future, others have a sell rating on the stock. The company's performance has been impacted by sluggish deposit growth, higher cost of funds, and increased competition in the financial sector.
Open FlipIndian Emulsifier Ltd, a specialty chemical manufacturer, has filed for an IPO to raise funds, with a price band of Rs 115-128 per share. GJNX Ventures, backed by Gunavanthkumar Vaid, holds a 1.80% stake in the company. The proceeds will be used for capital expenditures, and the company has reported positive financials with EBITDA margins at 22.99% for December 2023.
Open FlipTrichy corporation seeks 6.9 crore from Tufidco for 3,759 new street lights in peripheral areas. 60% of total street lights allocated to peripheral areas in preparation for city's expansion. Different capacities of energy-efficient LED bulbs will be used. Officials considering residents' demands for high-power lights but maintenance costs and electricity expenses must be taken into account.
Open FlipThe S&P 500 closed above 5,000 for the first time ever due to better-than-expected corporate earnings. Investors are looking ahead to data on consumer spending and inflation this week, while several big companies including Airbnb and John Deere will report earnings. Currently, 83% of US companies are beating earnings estimates, indicating a strong economic recovery.
Open FlipAmazon shares are up over 10% in 2024 thanks to strong earnings growth in its e-commerce and services divisions. The company's cash flow has also increased significantly, giving it flexibility for future investments and a rebound in cloud services. With a projected rise in sales and earnings, Amazon is considered a good investment even following the rally in its stock price.
Open FlipThe Apeejay Surrendra Park Hotel's stock is expected to make a strong debut on the stock market on February 12. Analysts are predicting that the shares will start trading at a 20-25% premium over the IPO price of Rs 147-155, which equates to somewhere between Rs 185 and Rs 195. The stock has been commanding a 25% premium in the grey market, an unofficial ecosystem for pre-listing trading.
Open FlipAs one of the largest sports apparel and footwear businesses on the face of the planet, Nike (NYSE: NKE) is well-known not only among customers worldwide but within the investment community as well. Regarded as a blue chip stock, Nike is even included in the Dow Jones Industrial Average. Nike is currently 42% below its peak price, after it tanked 7% in 2023.
Open FlipMastercard reported significant growth in 2023 and remains in a strong position compared to other businesses, with a reputation for taking care of shareholders. Its stock is trading at an all-time high and continues to perform well, however it comes at a high price with a P/E ratio much higher than the market average. But despite the expensive valuation, it continues to show impressive revenue.
Open FlipAs China approaches the Year of the Dragon, its leaders face challenges in restoring confidence amid deflation, a housing market slump, and a stock selloff. Government policies aimed at promoting "high-quality development" have not improved sentiment. Deflation is now the top concern, while the property market crisis persists and calls for more stimulus are growing.
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