Macquarie initiates an 'Underperform' rating on Swiggy, giving it a target price of Rs 325. They believe that while Swiggy has growth potential, profitability remains a challenge, particularly in the quick commerce segment. Swiggy's IPO, meanwhile, saw a decent subscription rate and is set to debut on the stock exchange.
Vivek Ramaswamy, a self-made billionaire, made his fortune in biotech. He founded Roivant Sciences, a company that develops pharmaceuticals. Ramaswamy also invests in technology and cryptocurrency. He entered politics with a focus on economic philosophy. He advocates for "excellence capitalism." Ramaswamy founded Strive Asset Management, an investment firm. He is known for his modest lifestyle despite his wealth.
Brokerage firm Macquarie has placed an underperform rating on Zomato, signaling caution on the stock. In contrast, Citi has upgraded Ramco Cements to a "Buy" rating, reflecting optimism about the company's prospects.
Acme Solar Holdings made its stock market debut today, with shares trading at a discount in the grey market. Despite recent growth and profitability, analysts are cautious due to the company's high debt levels. The IPO received a decent response from investors, aiming to raise funds for debt repayment and general corporate purposes.
Vodafone Idea's shares dipped ahead of its Q2 results, where the telco is expected to report narrowed losses and marginal revenue growth. Analysts predict a loss between Rs 6300-6400 crore and a 5% YoY revenue increase. ARPU is projected to improve, while subscriber count may decline.
Worth Investment & Trading, a multibagger smallcap stock, set November 14th as the record date for a 3:2 bonus share issuance. This marks the company's first-ever bonus share distribution. Investors had until Tuesday to buy shares and qualify for the bonus, which doesn't impact overall investment value but increases share count.
Several companies, including IRCTC and RITES, are approaching their ex-dividend date on November 14th. This means that today is the last day for investors to purchase shares and be eligible for upcoming dividend payments. The article lists these companies and provides details about their declared dividends.
Swiggy, the food delivery giant, launched its IPO last week. The IPO saw a decent subscription rate. However, market analysts observed subdued sentiments due to the company's financial performance. Despite revenue growth, Swiggy continues to face losses. Experts advise caution and a long-term perspective for potential investors. The company plans to utilize the IPO proceeds for expansion and technological advancements.
Vodafone Idea is expected to report a narrower consolidated loss for the second quarter, driven by revenue growth and improved ARPU. Analysts predict a loss between Rs 6300-6400 crore, with revenue rising 5% year-on-year. Subscriber base may decline, but ARPU is projected to reach Rs 156-159.
Stock benchmarks in Tokyo and Sydney retreated after the S&P 500 slipped following its biggest five-day advance in a year. The Bloomberg Dollar Spot Index extended its post-election rally, while the yen closed in on the closely watched level of 155.
