Hyundai Motor India's IPO has netted a staggering ₹493 crore in fees for investment bankers, marking it as the biggest in India’s history. Initially, it was a bit muted, but institutional investors jumped in, pushing the final subscription to 2.37x. So far this year, bankers have pulled in ₹2,100 crore from IPOs, a massive leap from last year’s earnings.
Geojit Financial Services Ltd is celebrating a huge 53% jump in its profit after tax (PAT) for Q2 of FY25, reaching ₹57.42 crore, up from ₹37.48 crore in Q2 of FY24. Their consolidated revenue has also taken a big leap, showing solid growth across key financial metrics.
Trader Sourav Dutta stirred up some controversy by suggesting that investing Rs 20,000 a month in a Nifty ETF SIP is a better move than using that cash for a car EMI. His tweet went viral, racking up over 1.3 million likes, but it also faced a lot of criticism as people debated the balance between being financially savvy and meeting practical needs.
India's pulses imports have shot up by 73% to a staggering $2.18 billion in the first half of FY25. This surge is mainly due to high demand and some setbacks in local production. Just in September, imports jumped by 34.79%, with significant increases in tur and urad. The government has lifted restrictions to stabilize supplies, while lentil imports are expected to dip thanks to better local production.
The Supreme Court has tossed out a petition asking for re-elections on 20 assembly seats in Haryana and won’t delay the swearing-in of the new state cabinet. The court called the petition ridiculous, while Congress made it clear they don’t back the folks who filed it, saying they acted without any party approval.
Even though SEBI opened the door for private equity firms to back mutual funds over a year ago, they're still not biting. The shaky market and tough regulations are making PE firms play it safe, leaning more toward buying existing companies instead of starting new funds.
Infosys released its quarterly revenue numbers, hitting ₹40,986 crore, which is a 3.8% bump from last quarter. The IT powerhouse has also upped its FY25 revenue growth outlook to 3.75-4.5%. While net profit saw a 2.2% increase, the company is finding opportunities in markets like the Middle East and Japan, even as some sectors face challenges.
Badruddin Ajmal, the AIUDF chief, has sparked some serious buzz by claiming that the Parliament and several spots in Delhi are built on Waqf land. His comments got Union Minister Kiren Rijiju fired up, who stressed the importance of safeguarding Waqf properties for the community's benefit, especially as the Waqf (Amendment) Bill is up for debate.
Quick commerce platform Blinkit has increased the notice periods for its senior employees to as much as two months, all thanks to the cutthroat competition in India's delivery scene. This change is all about keeping top talent around as rivals like Zepto and Swiggy ramp up their hiring.
Chief Justice of India DY Chandrachud has put forward Justice Sanjiv Khanna as his successor before retiring on November 11. Justice Khanna, who’s the second-most senior judge, has a solid legal background with experience in various judicial roles.