Markets
March quarter: Infosys reports sedate numbers
Infosys’ ebit margin of 24.5% was lower by 100 basis points sequentially the result of wage hikes while the ebit (earnings before interest and tax) came in at Rs 6,440 crore. By Srinath Srinivasan Infosys on Wednesday reported a sedate set of numbers for the March quarter with net...
5paisa to raise Rs 250.78 crore
The business has been witnessing rapid growth. In the midst of growing number of players, 5paisa has carved out a robust customer franchise. Discount broker 5paisa on Wednesday said it would raise Rs 250.78 crore via preferential issue of equity shares and warrants. The proposed investors for preferential allotment...
Auto-fuel prices seen rising after elections to support OMC margins
On Wednesday, retail petrol price in Delhi was Rs 90.56/litre, as rates kept falling since March 24 from the all-time high level of Rs 91.17/litre. Retail prices of auto-fuels is seen to rise again after the assembly elections are over as state-run oil marketing companies (OMCs) will likely want...
Zomato converts into public company from private limited co ahead of IPO
The company has been on a fundraising spree, garnering about $910 million from a clutch of investors through 2020 and early 2021. The firm’s valuation currently stands at $5.4 billion. As Zomato gears up to get listed on the exchanges in the coming months, the firm undertook a corporate...
Soybean meal exports likely to cross 18 lakh tonne this season
Soybean prices have crossed Rs 6,500-7,000 per quintal in key markets in Maharashtra and other states. India exported around 16 lakh tonne of soybean meal between October 2020 and January 2021 because of strong global demand, and is likely to cross the 18-lakh-tonne export mark this season, according to...
G R Infraprojects files draft IPO papers with SEBI; plans to sell 1.15 cr shares via public issue
GRIL will not receive any funds from the issue as only the selling shareholders will be getting the funds raised through the IPO. G R Infraprojects Ltd (GRIL) today filed a Draft Red Herring Prospectus (DRHP) with the capital markets regulator SEBI for its initial public offering (IPO). The...
Coinbase on Nasdaq: What the landmark listing means for Indian crypto startups, investors, ecosystem
Spotify, Palantir, Slack, etc. were companies that favoured direct listings in the past. (Image: Reuters) Coinbase listing on Nasdaq will be a watershed event in the short history of the global crypto ecosystem adding to the gradual yet growing acceptance of cryptocurrencies in mainstream finance. The milestone would also...
Castor crop estimate revised to 17.8 lakh tonne
The acreage is reported to have declined in major producing districts of Gujarat and Rajasthan. Agri-commodity research firm AgriWatch, which was commissioned by the Solvent Extractors Association of India (SEA) to conduct a survey to estimate the area, yield and production of castor seed for the crop year 2020-21,...
Analyst Corner: ‘Neutral’ on Dr Reddy’s; firm gets rights for 250m doses of Sputnik
We continue to value DRRD at 25x 12M forward earnings to arrive at Target Price of Rs 5,410. We maintain Neutral on a limited upside from current levels. The government’s Subject Expert Committee (SEC) of the Central Drugs Standard Control Organization (CDSCO) has recently recommended RDIF’s Sputnik V COVID...
HCL Tech, Tata Steel, among technical stocks to buy; Nifty may fall to 13,900 in coming days
The financial and auto stocks are available at major supports and it is advisable to accumulate them with a medium to long term view. Image: Reuters By Shrikant Chouhan The market witnessed hefty short covering on Tuesday when it has rejected to fall below the previous lowest levels of...
