Hyundai Motor Company’s Indian unit secured full subscription for its record initial public offering on the final day, rebounding from a sluggish start as investors overcame concerns about weakening auto demand and weakness in the broader market.
Hyundai Motor India’s Rs 27,870-crore IPO drew bids for more than twice the shares on offer on the third day, with investors seeking 23.63 crore equity shares against 9.98 crore on offer, according to NSE data on Thursday.
Subscription details showed robust institutional demand, with the qualified institutional buyer (QIB) segment bidding for 6.97 times the shares on offer. Retail individual investors (RIIs) fetched 50 percent subscription and non-institutional investors subscribed 60 percent of shares on offer, respectively. On Monday, Hyundai Motor India raised Rs 8,315 crore from anchor investors.
#1 Infosys guidance upgrade in line with estimate
#2 Wipro Q2 show better than expected but guidance disappoints
#3 LTIMindtree revenue slightly below estimate
#4 Axis Bank Q2 profit beats estimate; tax reversals offset higher provisions
#5 Earnings today: Tata Consumer, ICICI Lombard, Jio Fin
#6 Polycab India Q2 net profit rises 3.6 percent YoY to Rs 445 crore
#7 Tata Chemicals Q2 profit drops 55 percent as soda ash prices slip, freight costs rise
#8 IGL, MGL: APM gas allocation to sector cut by 20 percent from current 72 percent
#9 Zomato to consider fund raising via QIP on October 22
#10 Manappuram in focus: RBI asks arm Asirvad MFI to stop sanction, disbursal of loans
Axis Bank on Thursday reported a 18 percent rise in its net profit at Rs 6917.57 crore in September 2024 quarter year-on-year, helped by higher core lending income on the back of strong credit demand.
The Mumbai-based private lender had reported a net profit of Rs 5,864 crore crore in the July-September quarter of preceding 2023-24 fiscal, the company said in an exchange filing.
The net interest income of the lender was reported at Rs 13,533 crore, higher than nearly 10 percent from Rs 12,315 crore last year.
The total income increased to Rs 37,142 crore in the reporting period from Rs 31,660 crore crore a year ago. Sequentially, the lender reported Rs 35,844 crore in June 2024 quarter. Read More
CEAT, 5Paisa Capital, Quick Heal Technologies, Kotak Mahindra Bank, Nitco, Adani Enterprises, Aether Industries, Zydus Lifesciences, Coromandel International, and Mahanagar Telephone Nigam will also be in focus on October 18….Read More
Infosys Ltd Q2 FY25 net profit increased 2.2 percent quarter-on-quarter to Rs 6,506 crore from Rs 6,368 crore, missing Street expectations. The Indian IT bellwether’s July-September revenue also posted a healthy growth of 4.2 percent on-quarter, reaching Rs 40,986 crore.
The company raised its full-year revenue growth guidance to 3.75-4.5 percent, topping up on the surprise hike to 3-4 percent announced in July. Analysts from brokerages such as PhillipCapital, Emkay Global, and Nuvama had anticipated the IT major would raise its full-year revenue growth guidance. Read More
Wipro Ltd on October 17 announced 21 percent rise in net profit at Rs 3,209 crore for the September quarter as against Rs 2,646 crore in the year-ago period. The IT major also announced a bonus share issue in proportion of 1:1.
The company’s consolidated revenue fell 1 percent on-year to Rs 22,302 crore in the July-September quarter from Rs 22,543 crore in the year-ago period.
Wipro reported that its total bookings during the quarter were at $3.56 billion. Large deal bookings were at $1.49 billion, an increase of 28.8 percent on-quarter and 16.8 on-year in constant currency. Read More
Gold prices hit record highs on Thursday as uncertainty surrounding the U.S. presidential elections and the war in the Middle East prompted investors to seek out the safe-haven asset, while easing monetary policy environment kept prices elevated.
The dollar headed for a third weekly gain in a row on Friday, helped by a dovish European Central Bank and strong U.S. data that is pushing out expectations for how fast U.S. rates can fall, particularly if Donald Trump wins the presidency.
If the Nifty 50 decisively breaks 24,700 (the previous week’s low), the next support lies at 24,550 (20-week EMA). However, in the case of a rebound, the immediate resistance zone to watch is 24,800-25,000, experts said….Read More
Crude oil futures inched higher on Friday, supported by a surprise drop in U.S. oil inventories and simmering Middle East tensions, but prices were headed for their biggest weekly loss in more than a month on worries of lower demand.
Brent crude futures rose 16 cents, or 0.2%, to $74.61 a barrel while U.S. West Texas Intermediate crude was at $70.84 a barrel, up 17 cents, or 0.2%.
Trends on GIFT Nifty indicate a negative start for the broader index in India, with a loss of 112 points or 0.45 percent. The Nifty futures were trading around 24,748 level.