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Urban Company plans to raise 472 crore through fresh equity and 1,428 crore via offer for sale. While revenue grew 34.1% to 1,144.5 crore between FY23-FY25 and the company turned profitable in FY25, net profit dipped 45% in the June quarter. With a high P/E multiple of 62, the IPO is suitable for investors with high-risk tolerance.
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News and Media
The Securities Appellate Tribunal (SAT) has directed SEBI to explain why it withheld documents from Jane Street, a US trading firm accused of manipulating the Indian derivatives market. SAT has also halted in-person hearings in the case until further notice.
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News and Media
Infosys' share buyback announcement has historically boosted its stock performance, raising investor optimism. On Tuesday, Infosys shares surged 5% following the buyback declaration, with the Nifty IT index climbing 2.8%. This marks the IT firm's fifth buyback, aiming to counter a 20% stock decline this year amid US slowdown worries.
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News and Media
Urban Company garnered Rs 854 crore from anchor investors before its IPO, which opens tomorrow. The IPO allocated 8.29 crore shares at Rs 103 apiece to prominent investors like SBI Fund and Goldman Sachs. Analysts highlight the company's strong growth, profitability, and leadership in the home services market, despite valuation concerns.
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News and Media
Nebius Group N.V. shares surged 52% on Nasdaq after announcing a multi-billion dollar AI infrastructure deal with Microsoft. The agreement ensures long-term committed capacity from Nebius new Vineland, New Jersey data center.
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News and Media
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