I heavily object to comparing a “corrupt man” to Lord Ram: Congress’ Devender Yadav slams Atishi (25-09-2024)
Delhi Congress President Devender Yadav criticized Chief Minister Atishi for comparing AAP leader Arvind Kejriwal to Lord Ram. He highlighted issues like water shortages, waterlogging, and increased electricity fares in Delhi. Yadav also expressed disappointment over Atishi’s leadership, stating there are no expectations from her government.
Educomp Solutions reports standalone net loss of Rs 1.81 crore in the June 2024 quarter (25-09-2024)
Sales decline 6.52% to Rs 1.29 crore
Ecos (India) Mobility & Hospitality consolidated net profit declines 3.08% in the June 2024 quarter (25-09-2024)
Sales rise 13.98% to Rs 148.89 crore
Arvind SmartSpaces: Will it make smartspace for Retail Investors? (25-09-2024)
Axis securities initiated coverage with target price of 1085. More than the the target price, the stock has now entered the main stream distribution, in few months, some more brokers will start coverage, now they will sell to their clients both individual and institutional.
The liquidity and participant of the stock will increase. After few quarters it might get included in broader nifty500/ 750 kind of index.
Most of the big realestate companies are are 4-8x mcap of their sales, Arvind is at 3x with better debt profile and lot of dry powder.
Above is a very rosy picture, but sometimes looking at upside is also important.
PS: Invested, biased with more than 15% in portfolio.
Swiggy gets Sebi nod for $1.25-billion IPO (25-09-2024)
Swiggy has received market regulator approval for its $1.25-billion IPO, signaling strong interest in new-age investments amid India’s consumer boom. The Bengaluru-based company will raise ₹3,750 crore in fresh capital and offer up to ₹6,664 crore through an offer-for-sale. Major investors like Prosus and SoftBank are expected to sell part of their holdings.
GIFT Nifty signals a negative start for D-Street. Here’s the trading setup for today’s session (25-09-2024)
Domestic equities reached new highs with Sensex surpassing 85,000 and Nifty breaking 26,000. The rally was driven by positive domestic cues, healthy foreign investments, and the start of the US Fed’s rate cut cycle. Investors are now looking forward to US Consumer Confidence data for further market direction.