Zomato
Billionaire Raamdeo Agrawal picks up stake in IPO-bound Swiggy, Zepto
This news highlights Agrawal's growing interest in emerging businesses, particularly as the quick commerce sector experiences significant momentum in fundraising. According to an ET report, the family office of Bollywood superstar Amitabh Bachchan has also acquired a small stake in Swiggy. This was done by purchasing shares from the food delivery and quick-commerce company's employees and early investors, indicating continued confidence in the sector's potential.
Zomato captains India Inc’s dream Team XI with over 1,000% profit growth
The June quarter saw Zomato and 10 other companies achieving over 1,000% profit growth. Zomato's profit skyrocketed 12,550% year-on-year. Other remarkable performers were Shakti Pumps and Lotus Chocolate. Experts advise focusing on growth outlooks rather than past profits when making investment decisions.
Zomato surges 3% on Paytm’s ticketing business acquisition, brokerages predict 29% upside
Zomato’s shares rose 3% after acquiring Paytm’s ticketing business, marking its entry into event and travel booking sectors. Analysts are optimistic, with target prices up to Rs 335. The board approved a deal with One 97 Communications, WEPL, and OTPL for this acquisition on Wednesday.
Paytm shares rally over 5% as brokerages raise target price on Zomato deal
Paytm Share Price: Shares of One 97 Communications (Paytm) surged 5.5% to Rs 604.45 on the BSE after brokerages raised their target prices following the sale of its entertainment business to Zomato. CLSA upgraded its target to Rs 530, while Citi increased its target to Rs 440, keeping a "Sell" rating.
Zomato shares fall 2% after Antfin Singapore likely offloads 2% stake via block deal
Zomato Share Price: Shares of food aggregator Zomato dropped 2% to a day's low of Rs 257.10 on the BSE in the early trading session following reports that Antfin Singapore sold a 2.4% stake in the company through a block deal. Approximately 21 crore shares, equating to a 2.4% stake, were traded in this deal. The identities of the official parties involved in the transaction have not yet been revealed.
Paytm shares rise 3% as co completes transfer of events biz to Zomato
The transaction completion led to a boost in Paytm and Zomato's share prices. Payments will be completed after post-closing audit adjustments.
Zomato approves acquisition of Paytm's entertainment ticketing business
One 97 Communications is selling its movie and events ticketing businesses to Zomato. This will be done by first transferring these businesses to its subsidiaries OTPL and WEPL, and then Zomato will acquire these subsidiaries, making them its own.
Zomato shares rally 6% to fresh high after UBS raises target price
Zomato Share Price: Zomato's shares surged 6% to a new 52-week high of Rs 280 on BSE on Monday after UBS raised its target price from Rs 260 to Rs 320. The brokerage also adjusted employee cost estimates to account for increased investments in manpower. CLSA has the highest target price on Zomato at Rs 350, while Motilal's target is Rs 300, Nomura's Rs 280, and Bernstein's Rs 275.
Antfin Singapore to sell Zomato shares worth $408 million via block deal: Report
Antfin currently holds 4.3% stake in the food delivery platform. At the floor price, the shares will be available for sale at a discount of 4.6% over Monday’s closing price of Rs 263.24 on the NSE. Zomato's shares rose 6% intraday following UBS's target price hike. The company posted a substantial increase in profit and revenue for the June quarter, doubling its market capitalization in 2024.
Stocks in news: Zomato, Paytm, Zen Technologies, Coal India, IREDA, Alkem Labs
Markets increased on Wednesday. Zomato approved a deal with Paytm. Coal India pursued lithium acquisitions. Zen Technologies launched a QIP. BEML signed an MoU with the Indian Navy. IREDA considered raising funds. Welspun Enterprises, Alkem Laboratories, India Grid Trust, and Cyient also saw notable activities.
Zomato introduces food expense management platform 'Zomato for Enterprise'
Legends offered iconic dishes from 10 cities to other parts of the country. The company had earlier put on hold the service and restarted it in July with a few tweaks.
Stocks in news: Zomato, Cyient DLM, L&T, Petronet LNG, NHPC
Stocks in news: The markets saw an uptick of almost half a percent on Tuesday, with Zomato, Cyient DLM, L&T, Petronet LNG, and NHPC grabbing attention. Notable activities included a major stake sale by Antfin Singapore Holding in Zomato, and equity transactions involving PNB Housing Finance and Cyient DLM. L&T got GST relief, while NHPC reported a landslide at Teesta-V.
Stocks in news: IndusInd Bank, Zomato, Saraswati Saree Depot, HCL Tech, Poly Medicure
The benchmark indices saw a flat closing on Monday with investors waiting for more triggers. Key focus areas were IndusInd Bank's RBI nod for a mutual fund business, Saraswati Saree Depot's 30% premium debut, and movements in Zomato, Poly Medicure, Motilal Oswal, Hi-Tech Pipes, Sapphire Foods, and HCL Tech shares.
Alibaba affiliate may sell 1.54% stake in Zomato
Antfin Singapore, part of Alibaba Group, arranged to sell a 1.54% stake in Zomato on Tuesday through block deals, anticipating raising around ₹3,400 crore. The shares were priced at ₹251.68 each, a 4% discount to the previous closing price. Antfin previously held a 4.24% stake and had sold a 2% stake earlier this year.
New age firms' 29% Q1 revenue growth beats BSE 500, 1-yr stock returns better too
New age companies showed strong performance in the April-June quarter, with an average 29% YoY revenue growth, led by Zomato. Paytm was an outlier, with a 36% decline. Newly listed firms including Unicommerce, Ola Electric, and Firstcry attracted considerable investor interest and delivered notable gains, reflecting a changing market sentiment.
Robust growth ignites rally in new-age stocks, 45% gains made in 6 months
New-age stocks surged recently, thanks to higher revenue growth and increased profitability through reduced spending. The ET E-commerce Index rose 45% in six months. Shares of Zomato, Paytm, and PB Fintech showed notable gains. Foreign institutional investors significantly increased their stakes, supporting the growth of these companies.
Hot stocks: Brokerage view on Shyam Metalics, IndiGo, Vedanta, Zomato and Paytm
Brokerage firms have issued diverse stock recommendations: UBS endorsed Shyam Metalics as a buy, Jefferies upgraded IndiGo and Zomato to buy, CLSA maintained Vedanta at outperform, and Citi kept a sell rating on Paytm but increased its target price. The firms pointed to strong growth prospects and strategic moves influencing their ratings.
Nifty rejig today: Trent, Bharat Electronics top candidates
Tata Group's Trent and Bharat Electronics might join the Nifty 50 index, replacing LTI Mindtree and Divis Laboratories, as per JM Financial. The rebalancing, based on six-month data till July 31, will be effective from September 30. Jio Financial and Zomato are not included due to segment restrictions.
Zomato shares skyrocket 19% to double money in 2024, target prices go up to Rs 350
Zomato Share Price Updates: Shares of food delivery giant Zomato surged 10% to a day’s high of Rs 257.95 after reporting a multifold increase in PAT for the June quarter. The company posted a PAT of Rs 253 crore, up from just Rs 2 crore in the same period last year. Following this strong performance, brokerages such as CLSA raised their target price to Rs 350.
Sensex jumps 200 points, Nifty above 24,800 as US Fed minutes boost rate cut hopes
Sensex and Nifty opened on a positive note Thursday, bolstered by Federal Reserve meeting minutes suggesting a likely rate cut. Companies such as Infosys and Tata Steel saw gains, while others like Power Grid declined. Paytm's shares jumped over 5% after Zomato agreed to acquire its entertainment and ticketing business.
Ola Electric surges over 80% since August 9 listing
Ola Electric Mobility's shares experienced an 82% increase since their August 9 market debut. Initially listed at ₹76, the stock rose to ₹157.4, driven by new vehicle introductions and institutional buying. Though analysts were skeptical, the long-term growth prospects have kept the stock buoyant.
Antfin Singapore sells Zomato shares worth Rs 4,771 crore via block deals
Antfin Singapore Holding sold Zomato shares worth Rs 4,771 crore on Tuesday through two block deals. Over 18.54 crore shares were sold at a premium over the floor price. The final stock price closed at Rs 263.20 on the NSE.
Hot stocks: Brokerage view on Zomato, Ola Electric, M&M and HAL
Morgan Stanley has maintained an overweight rating on Zomato with a target price of Rs 278. Recent news indicates growing competitive intensity in the quick commerce sector, which underscores the increasing significance of the QC channel. While Morgan Stanley acknowledges that this heightened competition could impact profitability, they view maintaining market leadership as crucial, even if it requires delaying profitability.
Mazagon Dock, GRSE shares fall up to 12% in 3 days. Here’s why
GRSE Share Price: Shares of Mazagon Dock Shipbuilders and Garden Reach Shipbuilders fell sharply after ICICI Securities predicted significant downside risks. The brokerage firm cited stock overvaluation and potential order execution challenges, influencing investor sentiment negatively.
Trent and BEL likely to enter Nifty; LTIM and Divi's Labs may exit
In September, Trent and Bharat Electronics (BEL) were expected to be added to the Nifty index, replacing LTIMindtree and Divi's Labs, said Nuvama Alternative & Quantitative Research. This reshuffling could bring in substantial capital. An official announcement was anticipated in August, and Zomato and Jio Financial might also be included if approved by Sebi.
Stocks in news: Titan, Hindustan Zinc, ITC, SpiceJet, Zomato
Sensex reached a new peak, closing 126 points higher, and Nifty crossed the 25,000 mark for the first time. Titan, Hindustan Zinc, ITC, Tata Motors, Zomato, Adani Enterprises, and SpiceJet shared their quarterly results. ITC reported a small rise, while Tata Motors and Adani Enterprises showed significant profit growth. SpiceJet canceled flights due to operational reasons.
Big movers on D-Street: What should investors do with ITC, Zomato and Adani Wilmar?
The equity benchmarks experienced notable declines, breaking a five-day upward trend amidst a global sell-off. Key stocks included Zomato, which gained significantly, ITC, which saw slight losses, and Adani Wilmar, which increased. Analysts highlighted bullish trends in Zomato and Adani Wilmar, while ITC may see a pivotal move if it surpasses 500 levels.
Why is Zomato's Deepinder Goyal leaving all messages on seen? Hint: Dua Lipa
Deepinder Goyal, the Zomato CEO, announced that international pop star Dua Lipa will headline the Zomato Feeding India Concert on November 30 in Mumbai. The event, aimed at combating malnutrition and hunger in India, has already garnered over 300,000 registrations. Goyal urged fans to purchase tickets to support the cause and addressed an influx of free ticket requests, stating he’s leaving such messages "on seen."
Hot Stocks: Brokerage view on ITC, Sun Pharma, Adani Ports, Zomato and Dabur
Jefferies has maintained a buy rating on ITC with a target price of Rs 585. The 3% growth in cigarette business volume met expectations, and stable taxation suggests continued momentum in the coming quarters. However, other segments fell short in terms of revenues and margins.
Q1 results today: ITC, Tata Motors among 88 companies will announce earnings on Thursday
Earnings season commenced with 88 companies announcing results. Key highlights included ITC, Sun Pharma, Tata Motors, Adani Enterprises, and Zomato reporting. ITC and Dabur anticipated revenue growth from cigarettes, hotels, and FMCG segments. Tata Motors projected strong profit growth. Zomato maintained robust performance from prior quarters, offering promising outlooks.
Stocks in news: ITC, Tata Motors, Zomato, Adani Enterprises, Infosys
Markets experienced a slight uptick on Wednesday. Key companies such as ITC, Tata Motors, and Infosys will be under focus due to their quarterly results. Tata Steel and Coal India reported profit growths, while Infosys faces a GST investigation concerning Rs 32000 crore. Bank of Baroda and Sonata Software also posted their quarterly results.
Blinkit seeing growth in smaller cities: Zomato CFO Akshant Goyal
Zomato's quick commerce platform, Blinkit, is expanding into smaller cities while continuing its focus on large metropolitan areas. Quick commerce platform’s growth in FY24 was primarily on account of addition of dark stores and products, Zomato chairman said.
Zomato completes acquisition of Paytm’s entertainment ticketing biz
During a transition period (up to 12 months), the movie and event tickets will continue to be available on the Paytm app, as well as on the TicketNew and Insider platforms, ensuring a smooth and uninterrupted experience for users and merchant partners.
Big movers on D-Street: What should investors do with L&T, Zomato and Ramco Cement?
Stocks that were in focus include names like L&T, which gained 2.21%, Zomato, which rose 2.75%, and Ramco Cement, whose shares jumped 3.23% on Friday.
Buy Zomato, sell Jubilant Foodworks & don't buy other QSR stocks: Will this theme continue even longer after Swiggy gets listed?
For 2023, Biryani was the most ordered food online. Will 2024 be different when numbers come out. Not probably, With nearly 85 variants and over 6.2 million orders, 'Dum Biryani 'has emerged as the undisputed champion. Biryani rice came in second with 3.5 million orders, while 'Hyderabadi Biryani' received over 2.8 million orders. For some investors these might appear to be irrelevant at the first instance, but probably that is the reason why stocks like Jubilant foodworks and other QSR stocks have been underperforming for quite some time. Will this change, or growth of zomato and swiggy, which makes sure that more Briyani, Chole Bhature and Tikki are ordered, brings a cap to growth which pizza and burger sellers can have at least in terms of giving return on the street.
Axis Securities initiates coverage on Zomato, sees upside potential of 22%
Axis Securities said that it is confident that Zomato's growth in the sector is backed by steady profitability improvements and significant loss reductions in the Hyper pure and quick commerce domains.
3 PSU bank stocks may find hot seats in Nifty Bank, Junior Nifty
If Canara Bank shares are included in the banking index, the announcement of which is expected later on in the month from NSE Indices, it could lead to passive inflows worth about $45 million in the PSU bank stock.
Zomato shares jump 4% to fresh all-time high on platform fee hike
Zomato's shares surged 4% to a new high of Rs 232 on BSE after raising platform fees to Rs 6 per order in major markets like Bengaluru and Delhi. The firm, along with Swiggy, initially charged Rs 2 per order last year, later increasing it to Rs 5 in select markets. The recent price hike represents an increase of 20% from the Rs 5 the two platforms were previously charging in these markets.
Zomato shuts intercity food delivery service Legends due to lack of product-market fit
In its second version, the company tweaked the model to deliver pre-stocked items from other cities with a shorter delivery timeline. A senior company executive had earlier told ET that next-day deliveries did not solve customers’ hunger pangs.
Zomato gets Rs 4.59 crore tax demand notices
The company said it plans to appeal against the demand orders passed by the Assistant Commissioner of GST and Central Excise, Nungambakkam Division, Tamil Nadu and Assistant Commissioner of Revenue, Government of West Bengal.
Deepinder Goyal becomes India's newest billionaire after Zomato's multibagger rally
The 41-year-old Goyal, who studied Mathematics and Computing at IIT Delhi, owns about 36.95 crore shares in Zomato. The new-age stock zoomed over 4% in Monday's session, on the back of an increase in platform fee, to a fresh all-time high of Rs 232.
Zomato shares down 0.15% as Nifty gains
The stock quoted a 52-week high price of Rs 280.0 and low of Rs 88.16.
UPI market share cap hurdle for PhonePe; Small is big for Blinkit
PhonePe CEO Sameer Nigam said the 30% market share cap on Unified Payment Interface is a hurdle for its IPO plans. This and more in today’s ETtech Top 5.
Dua Lipa to perform in India for Zomato concert. Date, venue and ticket price details here
Dua Lipa will headline the Zomato Feeding India Concert on November 30, 2024, at Mumbai's MMRDA Grounds. Zomato CEO Deepinder Goyal announced the event, emphasizing its mission to combat hunger and malnutrition in India. Pre-sale tickets for HSBC cardholders start on August 27, with general sales opening on August 29. The concert will also feature performances by Jonita Gandhi and Talwiinder.
Dua Lipa Mumbai concert ticket booking: How Zomato's new ‘Book Now, Sell Anytime’ feature works
Zomato is launching the 'Book Now, Sell Anytime' feature on September 30th, allowing ticket holders to resell their tickets through the app. This feature will debut at the Zomato Feeding India Concert featuring Dua Lipa in Mumbai on November 30th, 2024. The company is also expanding into live entertainment by acquiring Paytm’s events business.
Fund Manager Talk | Zomato's turnaround inspiring confidence in other new-age stocks: Arvind Kothari
This strategy allows us to remain invested and benefit from the long-term growth potential while being cautious and adaptive to the changing market dynamics.
Deepinder Goyal becomes India's newest billionaire after Zomato's multibagger rally
Zomato co-founder and CEO Deepinder Goyal, who left an MNC job to start the food delivery platform in 2008, has joined India's growing but elite club of billionaires. The surge in the entrepreneur's net worth comes from a 4.2% stake in Zomato, the shares of which have grown over 300% in just two years. Watch!Deepinder Goyal becomes India's newest billionaire after Zomato's multibagger rally
BookMyShow’s business story gets Zomato’s Paytm plot twist
BookMyShow may face strong competition from Zomato after its acquisition of Paytm's ticketing business. Zomato plans to leverage its customer base and profits from other businesses to scale its new going-out vertical, aiming to grow its order value to over Rs 10,000 crore by FY26.
Apple’s hiring drive; Zomato's new ticketing feature
Apple’s shift from China is driving a massive surge in hiring in India. Details on this and more in today’s ETtech Top 5.
Motilal Oswal sells Zomato shares for Rs 646 crore in block deal
Motilal Oswal Mutual Fund sold ₹645.84 crore worth of Zomato shares, causing a 4.71% drop in stock price, despite a 15.8% gain over the past month.
Zomato introduces secondary market for event ticketing ‘Book Now, Sell Anytime’
Zomato announced a new feature, 'Book Now, Sell Anytime,' allowing users to resell event tickets purchased from the platform. Set to launch on September 30 with the Feeding India Concert headlined by Dua Lipa, this initiative caps resale prices at twice the current phase price. Zomato also recently acquired Paytm's events and movie ticketing business.
Zomato reminds customers: Don’t rush our delivery executives. It is a legal offense!
Zomato's new ad calls for patience from customers to ensure delivery executive safety, stating that rushing riders is punishable under the Motor Vehicle Act. Public reaction is mixed, highlighting issues with rider behavior and Zomato's quick-delivery promises. Zomato apologizes and emphasizes its commitment to safety through various initiatives.
Buy Zomato, target price Rs 300: Motilal Oswal
Zomato Ltd., incorporated in the year 2010, is a Small Cap company (having a market cap of Rs 229528.10 Crore) operating in Services sector.
Paytm biz acquisition may boost going-out vertical's gross order value to Rs 10,000 crore by FY26: Zomato CEO
Zomato's purchase of Paytm's events and movie ticketing division hinges on effective customer transition and team integration, as noted by CEO Deepinder Goyal. The Rs 2,048 crore deal includes onboarding 280 employees. Initial operations will remain on separate apps, later merging into a new app, District, aimed at consolidating dining and event services.
D-St cheers Fed's dovish tone: Nifty surges past 25K milestone, Sensex sets new record
On Wednesday, the US Federal Reserve maintained its key interest rate at 5.25–5.5% for the eighth consecutive time, as expected, while signaling the possibility of a rate cut in its next meeting in September. From the Nifty stocks, Power Grid Corporation, Coal India, ONGC, HDFC Bank, and Dr Reddy's Laboratories were the top gainers, rising 2-4%. On the other hand, M&M, Tata Steel, Hero MotoCorp, Britannia, and Tata Motors ended with cuts.
Blinkit’s valuation; Unicommerce stock zooms
At a $15.4-billion enterprise value, Blinkit contributes to Zomato’s valuation more than its food delivery business. This and more in today’s ETtech Top 5.
You can now order food 2 days in advance on Zomato! Check details of new feature
Zomato, the leading food delivery platform, has introduced an exciting feature for its customers. Enthusiasts of good food can now schedule their orders up to two days ahead. This new option allows for advance booking from over 13,000 restaurants across Delhi, Mumbai, Chandigarh, Lucknow, Jaipur, and Bengaluru, provided the order totals more than Rs 1,000.
GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
On Wednesday, domestic markets saw a strong closure with Nifty rising 3% in July, driven by budget support and FII buying. Analysts predict ongoing momentum with sector rotation. Key data points include India VIX and global market trends. Significant Q1 results from companies like ITC and Sun Pharma are due on Thursday.
Dua Lipa on her upcoming concert in India: Can't wait to see you again
Dua Lipa announced her return to India to headline the Zomato Feeding India Concert this November. Following her vacation in India earlier this year, the pop star will perform in Mumbai as part of her Radical Optimism Tour through Asia, with stops in cities including Tokyo, Taipei, and Bangkok, ending in Seoul.
Top startup and tech stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories from this week. Let’s take a look.
Societe Generale, Morgan Stanley and others buy Zomato shares worth Rs 635 crore via block deals
Zomato saw Rs 635 crore in block deals with buyers like Societe Generale, Morgan Stanley, and Axis Mutual Fund, while Motilal Oswal sold 2.84 crore shares at Rs 226.85 each. Their platform fee rose to Rs 6 per order. Shares hit a 52-week high of Rs 232 but dropped 4.71% to Rs 218.35 with past platform fee increase details.
Swiggy targets $15 billion valuation in IPO
SoftBank-backed Swiggy is planning an IPO to raise $1-1.2 billion, targeting a $15 billion valuation. Competing with Zomato in the quick commerce sector, Swiggy's IPO aims to expand its Instamart business. The company received shareholder approval and expects regulatory clearance shortly.
What should investors do with auto stocks? Sandip Sabharwal answers
The management strategy of expanding across various formats, expanding its food delivery, TajSATS. So, I think strategically they are doing very well and now the big focus only on managed hotels is working well for them. Stock is not cheap at these valuations at all.
BookMyShow vs Zomato; Swiggy valued at $11.5 billion
Happy Friday! BookMyShow may face intense competition from Zomato following its acquisition of Paytm's ticketing business. This and more in today’s ETtech Morning Dispatch.
Swiggy investor 360 One pins $11.5 billion value on IPO-bound company
Swiggy, valued at $11.5 billion by 360 One WAM, is set for a $1.25 billion IPO. The company's revenue for the first half of fiscal 2024 is estimated at Rs 7,474 crore. Both Swiggy and Zomato are focusing on rapid growth in quick commerce, an area showing significant promise and revenue increase.
Momentum Pick: Will Zomato's 21% returns over a month and technical breakouts trigger another leg of rally?
Zomato shares surged 21% since June 4, outperforming the Sensex's 11% rise. Analysts predict up to 20% additional gains. The stock hit a 52-week high of Rs 213.80, closing at Rs 208.15. Momentum indicators show shares trading above 50 and 200-day SMAs with a 1-year beta at 0.6. Axis Securities noted sustained buying activity and net profit.
Zomato makes a new high after 20% fee hike
Zomato's shares hit a record high after a 20% platform fee increase in select areas, potentially boosting operating profit. Founder Deepinder Goyal's stake in the company is now valued at ₹8,464 crore. Analysts project a 6-7% EBITDA impact with the fee hike. Stock has surged over 84% in 2024.
JM Financial cuts Zomato's target price by 8% on ESOP costs
JM Financial has lowered Zomato's target price to Rs 230 from Rs 250, noting that ESOP costs are no longer considered one-off expenses following the approval of a new policy. The formulation of this policy indicates that ESOP costs will be treated as regular business expenses, expected to recur.
Will Nifty cross 25,000 this week? Fed meeting & 5 other factors to watch out for
The stock market showed strong recovery last week, buoyed by positive US GDP data. This week, factors such as the US Fed meeting, Q1 earnings reports, FII flows, and global economic data could influence market trends. Analysts believe Nifty might hit the 25,000 mark for the first time.
What should investors do with Zomato stock after Paytm deal? Karan Taurani answers
How do they achieve these kind of profitability levels is going to be a key monitor. Otherwise, as far as market is concerned, they have that clout. This will give a much needed boost to currently going out business, which is somewhere around 400 crores in terms of annualised basis revenue.
Zomato acquires Paytm’s ticketing biz; Bluestone’s fundraise
Paytm on Wednesday said it will sell its entertainment ticketing business to Zomato for Rs 2,048 crore. Details on this deal and more in today’s ETtech Morning Dispatch.
Zomato to acquire Paytm’s movie ticketing, events biz for Rs 2,048 crore
ET reported on June 16 that Zomato is looking to acquire Paytm’s movie booking and events unit -- in a deal that may value Paytm’s vertical at around Rs 1,600-1,750 crore. Paytm also confirmed discussions regarding the potential transfer of its entertainment business in an exchange filing, saying that all discussions are preliminary and non-binding at this stage.
What is keeping the bulls running in the market? Chakri Lokapriya answers
Chakri Lokapriya from RSB LLP discussed the promising outlook for Indian IT firms, citing favorable US market conditions. He highlighted TCS, HCL Technologies, and Infosys, and mentioned a shift from traditional sectors to new-age companies like Ola and Paytm. He also touched on the impact of the US Fed's potential actions on Indian markets.
Brokerage Picks: Stocks likely to gain big from Budget measures
Focus on affordable housing as budget announced following incentives PM Awas outlay and allocation of Rs 2.2 trillion under Pradhan Mantri Awas Yojana in the current year is a massive increase. This should help HFCs significantly with PNB Housing being the top pick.
Ant Group nets 4X return on investment in Zomato after latest part stake sale
On an investment of Rs 3,246 crore in the Gurugram-based food delivery firm, the Chinese ecommerce giant Alibaba’s affiliate has pocketed Rs 12,521 crore till now, with another Rs 4,955 crore worth of shares still being held by it.
