By Surender Negi With interest in the unlisted space growing, several smaller firms are deploying innovative ways to tap small investors. These include benchmarks to track the direction of the unlisted space, like the Sensex and the Nifty, and low-ticket investment value. There are at least two benchmarks for the unlisted space, first of which
Noting that its current expensive valuations pose a downside risk to Bajaj Housing Finance, Kotak Institutional Equities has initiated coverage on the stock with a ‘sell’ rating and a target price of Rs 100. This signals a potential downside of 21% in the stock, it said. “Bajaj Housing Finance trades rich (4.7X book and 39X
Fast-moving consumer goods (FMCG) companies may report low-single-digit revenue growth in the December quarter of FY25 owing to sluggish urban demand and persistently high input costs, analysts as well as companies said. “We expect volume growth deceleration across the board, given the slowing urban demand and a gradual rural recovery,” analysts at Kotak Institutional Equities
Nishant Pitti, who stepped down as the CEO of Easy Trip Planners on January 1, has said that he will not be selling any more stake in the company. In December, he sold a 1.4% stake in the company for Rs 78 crore. In September 2023, he had sold another 14% stake for Rs 920
The Securities and Exchange Board of India (SEBI) has issued JM Financial an administrative warning over regulatory non-compliance during the initial public offering (IPO) of its client, Western Carrier (India). Shares of the investment banking firm erased their earlier gains, falling 2.3% to close at Rs 129.90 on the NSE after it informed the stock
India’s import of Russian crude oil declined by 13.2% to 1.39 million barrels per day in December against 1.61 million barrels per day in November, data from Vortexa showed. However, Russia remained the largest crude supplier to the country in December accounting for 31% of India’s total crude oil imports. The country’s overall crude oil
After rising 2.3% in the first two days of the calendar year, investors resorted to profit-booking on Friday, leading to a decline of up to 0.90% in the benchmark indices. However, the indices managed to close the week with gains of up to 0.80%, marking the second consecutive weekly rise. The Sensex opened over 129
Standard Glass Lining IPO: Standard Glass Lining Technology has successfully mobilized Rs 123 crore from anchor investors in preparation for its initial public offering (IPO), which is set to open for public subscription on January 6, 2025. The company announced that it has allotted 87.86 lakh shares to 10 entities at Rs 140 per share
Indore-based TaskUs, a leading BPO and digital transformation services provider, abruptly fired over 300 employees without prior notice, sparking widespread outrage. A video of distressed employees addressing the company staff has gone viral on social media. In the video, employees accuse company representatives of mistreating them and even laughing while delivering the layoff news, further
Larsen & Toubro chairman SN Subrahmanyan’s comments on a 90-hour working week have sparked outrage with a host of his peers in corporate India criticising the idea of working inordinately long hours. CEOs took to Twitter and television on Friday to express their reservations on the remarks by Subrahmanyan, who has exhorted L&T employees to
With 400 million people in attendance, and manifold eyeballs on it, the Maha Kumbh is gargantuan not only in human presence, but in business opportunity as well. The figure is Rs 2 lakh crore to be precise, put forth by Uttar Pradesh chief minister Yogi Adityanath on Wednesday. This makes the event a pitching ground
Funds raised from the capital markets, including via equity and debt instruments, are expected to rise nearly 21% year-on-year to Rs 14.27 lakh crore in FY25, Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch said on Friday. Total capital formation has reached Rs 10.7 lakh crore so far this fiscal, with Rs
Despite missing Street estimates on the revenue and net profit front in its October-December earnings, analysts have viewed the company’s performance with a cautious optimism. The company’s commentary on the revival of discretionary spending and its robust order book are key drivers behind this sentiment. However, analysts remain vigilant about the challenges of total contract
