The rupee fell by 11 paise to 83.69 against the US dollar in early trade on Thursday, influenced by a stronger dollar and rising crude oil prices. Foreign Institutional Investors (FIIs) turning net sellers added pressure. The Sensex and Nifty reached record highs, while the dollar index and Brent crude saw marginal increases.
Zaggle_A platform to address pain points for enterprises (26-09-2024)
The board approved acquisition of two companies.
Mobileware
Paying 15.6 Cr for a 26% stake for a company with turnover of 17Cr. Valuation is about 4x. Seems about same valuation ratio of Zaggle, though we do not know about earnings of Mobileware.
SpanAcross IT solutions
They are acquiring 98% stake for about Rs 30 Cr, for a company that has a turn over of Rs 4.73 Cr. Something doesn’t add up as it is an order of magnitude higher than expected… Please let me know if I am doing something wrong.
Also, am confused on this one. They say it is related party, but promoters have no interest in entity acquired…
Disc: Invested
E2E Networks Ltd – Listed small Cloud computing player (26-09-2024)
Why Promoters and employees are selling shares any idea?
Trent among 7 stocks on which brokerages initiated coverage can rally up to 27% (26-09-2024)
Citi has initiated coverage on Trent with a “Buy” rating and set a target price of Rs 9,250 for the stock, indicating an upside potential of 22% from current prices.
Sensex up 850 times in 45 years! Will it hit the 1,00,000 milestone in FY25? (26-09-2024)
Sensex has grown 850 times in 45 years, with an average CAGR of 16%. Now nearing the 1 lakh mark, it may achieve this milestone by FY25. Experts believe strong liquidity and FII flows could drive this growth, though risks from declining inflows exist.
PB Fintech shares down 5% after co plans foray into healthcare space (26-09-2024)
The fall in PB Fintech share price comes after the company indicated that it may foray into the healthcare space.
ONGC board OKs proposal to invest Rs 10,501 crore in equity of JC entity ONGC Petro (26-09-2024)
Oil and Natural Gas Corporation said that its board has approved an investment of Rs 10,501 crore in equity shares of ONGC Petro additions (OPaL), in one or more tranches.
Sahasra Electronics Solutions IPO opens. Check GMP, price band & other details (26-09-2024)
The Sahasra Electronics Solutions IPO features a mix of fresh equity issuance and an offer for sale (OFS), with 65.78 lakh shares being newly issued and 5 lakh shares offered for sale. This is a 100% book-building issue, and the price band has been set at Rs 269-283 per share. Investors can bid for 400 shares in a single lot.