Nazara Tech gains 4% after arm acquires UK-based marketing agency
Wed, Oct 30, 2024 5:30 PM

Nazara Tech gains 4% after arm acquires UK-based marketing agency

Nazara Technologies saw its stock rise 4.2% to intraday high of ₹949.5 on the BSE, buoyed by its subsidiary Datawrkz acquiring 100% of UK growth marketing agency Space & Time. The acquisition, valued at approximately ₹52.3 crore in cash and stock, is expected to strengthen Datawrkz's growth across Europe and North America, positioning it as a significant player in the global digital advertisement.

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Fiscal deficit for H1FY25 at Rs 4.75 lakh crore, 29.4% of full-year target
Wed, Oct 30, 2024 5:29 PM

Fiscal deficit for H1FY25 at Rs 4.75 lakh crore, 29.4% of full-year target

India's fiscal deficit for the first six months of FY25 stands at 29.4%, lower than last year's 39.3%. Capital spending remains slow, reaching only 37.3% of the full-year target, while total spending is at 43.8% of the FY25 Budget target. Experts predict a lower fiscal deficit ratio than the 4.9% target, thanks to a higher-than-expected RBI dividend.

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2 Cryptocurrencies You Should Probably Avoid, According to Mark Cuban
Wed, Oct 30, 2024 5:26 PM

2 Cryptocurrencies You Should Probably Avoid, According to Mark Cuban

Meme coins are designed to skyrocket in price within a very short period. That is the key to their ongoing appeal: If you pick the right meme coin, you theoretically have a chance of adding a few zeros to your bankroll. Add in the fact that most meme coins are based on a funny internet meme, and you can understand why they are so popular with crypto investors.

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Let Others Do the Heavy Lifting in Palantir (NYSE:PLTR) Technologies Stock
Wed, Oct 30, 2024 5:24 PM

Let Others Do the Heavy Lifting in Palantir (NYSE:PLTR) Technologies Stock

Given the dramatic rise of artificial intelligence, it’s no shock to see big data analytics firm Palantir Technologies (PLTR) swing higher. Palantir Technologies' stock has risen 171% this year, but valuation concerns exist; a Bull Call Spread strategy can help investors profit from the AI narrative while managing risk, by leveraging unusual options activity to offset premium costs.

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Sebi proposes timeline of 30 days for mutual funds to deploy funds of NFOs
Wed, Oct 30, 2024 5:18 PM

Sebi proposes timeline of 30 days for mutual funds to deploy funds of NFOs

The market regulator has proposed that mutual funds deploy funds collected through new fund offers (NFOs) within 30 days from the date of allotment of units. In exceptional cases, if the asset management company (AMC) is not able to deploy within this time frame, then it will need give the reasons in writing for the delay to the Investment Committee.

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ACME Solar Holdings' Rs 2,900-crore IPO to open on November 6
Wed, Oct 30, 2024 5:17 PM

ACME Solar Holdings' Rs 2,900-crore IPO to open on November 6

Renewable energy power producer ACME Solar Holdings will open its Rs 2,900-crore initial share sale for subscription on November 6. The company has filed red herring prospectus with the Registrar of Companies on October 29. This will be the third public issue hitting the Dalal Street next week along with Swiggy and Sagility India. The price band for the public issue is expected to be announced.

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Swiggy's IPO price band is attractively valued, says banker
Wed, Oct 30, 2024 5:16 PM

Swiggy's IPO price band is attractively valued, says banker

Swiggy's IPO price range of Rs 371 to Rs 390 is considered attractively valued, and was decided after comparing its ratios with the listed peer and adding qualitative factors to the same value, said an investment banker attending the IPO press conference. Swiggy's competitor Zomato is currently trading at a trailing P/E of 297x, whereas the former's ratio stands at -35.23x.

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PSU banks outshine private banks in Q2FY25 as profitability
Wed, Oct 30, 2024 5:09 PM

PSU banks outshine private banks in Q2FY25 as profitability

The performance of the state-owned banks in the second quarter (Q2) of financial year (FY) 2025 was better than the private banks as far as a few key metrics such as profitability and asset quality are concerned, according to Moneycontrol’s analysis of 35 banks. The growth in the net profit of the state-owned banks remained in the range of 23-51 per cent in the July-September quarter.

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Dabur to acquire ayurvedic product maker Sesa Care for Rs 315-325 cr
Wed, Oct 30, 2024 5:08 PM

Dabur to acquire ayurvedic product maker Sesa Care for Rs 315-325 cr

Dabur acquires Sesa Care, an Ayurvedic personal care and wellness company, for an enterprise value of Rs 315-325 crore, expanding its presence in the Rs 900 crore ayurvedic hair oil market. The acquisition will bring revenue and cost synergies, leveraging Dabur's distribution network and category expertise.

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Sunil Mittal’s Bharti Telecom plans its biggest Rupee bond sale
Wed, Oct 30, 2024 5:07 PM

Sunil Mittal’s Bharti Telecom plans its biggest Rupee bond sale

Bharti Telecom, owned by billionaire Sunil Bharti Mittal, is planning to raise about Rs 8500 crore ($1.01 billion) in the local-currency bond market, according to people familiar with the matter. The company may seek bids for the notes due in three to 10 years next week, with the longer end bonds likely offering a coupon of 9%, they said, asking not to be named as the information is not public..

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IRB Infrastructure Developers Q2: Revenue drops 9%, profit up
Wed, Oct 30, 2024 5:06 PM

IRB Infrastructure Developers Q2: Revenue drops 9%, profit up

IRB Infrastructure Developers reported a 9.1% year-on-year decline in revenue to ₹1,586 crore in Q2 FY25, but consolidated net profit rose 4.3% to ₹99.8 crore due to higher operating margins, with EBITDA margins improving to 48.3%. The company declared a second interim dividend of ₹0.10 per equity share.

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Karnataka draws a fifth of its revenues from liquor taxes
Wed, Oct 30, 2024 5:05 PM

Karnataka draws a fifth of its revenues from liquor taxes

Karnataka relies heavily on liquor taxes, expected to contribute 20.3% of its tax revenue in FY25, making it one of the top five states dependent on liquor revenues. The state's dependence on liquor taxes has remained steady over two decades, but its contribution to the overall budget has fallen, highlighting the need to curb liquor imports to address fiscal deficit concerns.

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Eli Lilly stock sinks after Q3 earnings miss Wall Street expectations
Wed, Oct 30, 2024 4:55 PM

Eli Lilly stock sinks after Q3 earnings miss Wall Street expectations

Eli Lilly (LLY) missed Wall Street's revenue expectations in third quarter earnings released Wednesday morning, sending shares down as much as 10% in premarket trading. The drugmaker also slashed its profit guidance and the high end of its revenue outlook for the year. The company reported revenue of $11.4 billion, falling short of Wall Street estimates of $12.17 billion.

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Stock Market Today: Stocks higher on Google boost; Meta, Microsoft on deck
Wed, Oct 30, 2024 4:54 PM

Stock Market Today: Stocks higher on Google boost; Meta, Microsoft on deck

📌US equity futures rose on Wednesday, following a record high close for the Nasdaq, driven by stronger-than-expected earnings from Alphabet and solid gains from tech heavyweights. 📌The S&P 500 rose 0.16% and the Nasdaq scaled a fresh record peak as investors looked to key economic data. 📌Treasury yields, while still expressing concern for a resurgence inflation and higher debt and deficits.

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Bunge beats quarterly profit estimates on grain, seed oil volumes
Wed, Oct 30, 2024 4:52 PM

Bunge beats quarterly profit estimates on grain, seed oil volumes

Bunge exceeded Wall Street expectations for Q3 profit, driven by increased volumes in grain trading and oilseed processing, which offset lower margins. The company reiterated its full-year adjusted profit forecast of $9.25 per share, citing the current margin environment and loss of income from a joint venture sale.

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