Vishal Mega Mart's ₹8,000 crore IPO saw an overwhelming response, closing 27.28 times oversubscribed on December 13, 2024.
The retail portion received 2.31 times the bids, while Non-Institutional Investors (NIIs) applied 14.25 times more shares than available. Qualified Institutional Buyers (QIBs) overbooked their portion 80.75 times. The IPO, scheduled to list on December 18, 2024, raised ₹1.61 lakh crore in bids, including anchor investors.
Bollywood actor Saif Ali Khan’s health insurance details have surfaced online, showing he filed a claim of ₹35.95 lakh for medical treatment. Out of this, ₹25 lakh was approved by the insurer. The leaked document also mentioned his discharge date, sparking privacy concerns. Saif’s team has yet to respond to this breach of confidentiality. This leak raises questions about data protection in the entertainment industry, especially for high-profile individuals like Saif. Such revelations highlight the importance of stronger privacy measures for celebrities.
Puma surprised its Indian customers by changing its iconic logo to "PVMA" in all stores and digital platforms. This temporary rebranding was a tribute to Virat Kohli, a long-time brand ambassador and celebrated cricketer, ahead of India’s crucial match. Puma highlighted Kohli’s "unstoppable" journey and strong connection with the brand through this creative move. This bold marketing strategy reflects Puma’s commitment to celebrating its association with Kohli while engaging fans uniquely. The campaign demonstrates how brands can effectively leverage star power for greater engagement.
A Reddit post about a Zepto bill with unclear pricing details has caught the attention of netizens. The user highlighted discrepancies between product prices and final billing, with hidden charges raising concerns. The bill lacked transparency, leaving customers puzzled over Zepto’s pricing structure. This sparked a heated discussion on Reddit, with many questioning if the charges were justified or misleading. As Zepto grows in popularity, users demand better clarity in billing. The incident sheds light on the importance of trust and transparency for online delivery platforms.
Vodafone Idea’s stock has jumped 20% in just four trading sessions, reaching ₹12.92 on January 17, 2025. The surge comes after reports of the company clearing significant vendor dues and receiving government approval to convert ₹16,133 crore in AGR dues into equity for the government. This move boosts Vodafone Idea’s financial stability, reducing debt and strengthening investor confidence. Analysts suggest the stock could see further gains if the company secures funding and improves operations. However, high debt levels and competition remain challenges for the telco.
Goldman Sachs CEO David Solomon highlighted the transformative power of AI, revealing it can draft 95% of an IPO prospectus in mere minutes, a task that previously took a six-person team two weeks. Speaking at the Cisco AI Summit in California, Solomon emphasized that the final 5% of the document, which requires human input, holds the most value as the rest is now considered a commodity. He pointed out how AI is reshaping tasks for the investment bank and its clients, accelerating efficiency in critical processes.
Bharat Petroleum Corporation Ltd (BPCL) has secured a massive ₹31,802 crore loan from an SBI-led consortium, including Punjab National Bank, Canara Bank, and Export-Import Bank of India, to fund a petrochemical complex and expand its Bina refinery in Madhya Pradesh. The project will increase refinery capacity from 7.8 MMTPA to 11 MMTPA, supporting petrochemical production like HDPE, PP, and benzene. The loan features a project finance structure secured against project land and fixed assets. BPCL shares closed at ₹267.05 on BSE.
An ex-Infosys employee has shared his 9-year experience, calling it “unchained slavery.” He revealed being underpaid with a ₹35,000 salary in 2017, compared to ₹1.7 lakh at his current company. He criticized Infosys for single-digit salary hikes, charging for parking, costly cafeteria meals, and mandatory campus visits. The employee highlighted better perks, fair promotions, and free transport at other tech firms. He urged reforms like a Minimum Wage Policy and labor law changes in India to end exploitation in IT. His story sheds light on pressing industry issues.
Today is the last chance to buy HCLTech shares to qualify for a ₹18 per share dividend. This includes ₹12 as an interim payout and ₹6 as a special dividend to celebrate 25 years of HCLTech’s public listing.
To get the dividend, you must buy shares today due to the T+1 settlement system. The payout will be made on January 24. HCLTech recently reported strong profits of ₹4,591 crore for Q3 and 18.5% stock growth in the past year, making it a top choice for dividend seekers.
The Indian stock market faced a sharp drop as the Sensex plunged 750 points, while the Nifty fell to 23,100. IT and banking stocks suffered, with both indices slipping 2%. Major players like Axis Bank, Infosys, and ICICI Bank led the decline. Midcap and smallcap indices dipped by 0.5%. Reliance Industries, Rail Vikas Nigam, and Kalyan Jewellers remained among the most active stocks on the NSE, reflecting mixed investor sentiment. The selloff highlights the pressure on IT and banking sectors, dragging overall market performance.
Hindenburg Research, the controversial US-based short seller, has closed its operations after seven years. Known for exposing corporate irregularities, Hindenburg's most notable report in 2023 accused Adani Group of stock manipulation, leading to a massive crash.
Adani’s market cap fell to ₹7 lakh crore in February 2023 from ₹23 lakh crore in September 2022. Despite partial recovery—Adani Power doubling and Adani Ports gaining 51%—8 out of 10 targeted Adani firms remain in losses. Since 2017, Hindenburg's reports have disrupted stocks of 63 companies globally.
Bollywood star Saif Ali Khan’s net worth stands at an impressive ₹1,200 crore, fueled by his acting career, brand endorsements, and royal heritage. A significant highlight is the ₹800 crore Pataudi Palace, a 10-acre estate with 150 rooms, grand chandeliers, and timeless Indo-Saracenic architecture. Once leased to a hotel group, Saif reclaimed and refurbished the palace using his earnings, emphasizing that his fortune is self-made. His wife, Kareena Kapoor, adds to their wealth with a net worth of ₹485 crore, solidifying their position as Bollywood’s power couple.
Gold has always held a special place in Indian culture , not only as an ornamental asset but also as a key investment . Several factors contribute to the variation in gold prices across cities in India . Mumbai sees some of the lowest gold prices due to its proximity to international gold markets . Chennai is one of the largest consumers of gold in the country , owing to the high demand during festivals like Pongal and during the wedding season . In Bangalore , the gold rates are influenced by the city ’s demand for investment in gold as well as its role as a tech hub with a growing affluent population .
Reliance Industries reported an 11.9 per cent increase in net profit at Rs 21,804 crore for the third quarter ( Q3 ) ended December 2024 . Digital arm Jio Platforms posted a 19.2 per cent rise in revenue to Rs 38,750 crore . Gross revenue rose by 7.7 per cent to Rs 267,186 crore for third quarter as against Rs 248,160 crore a year ago . Mukesh D. Ambani said robust growth in digital services business was led by sustained subscriber addition and consistent improvement in customer engagement metrics . Reliance Retail Ventures Ltd has posted a 10 % increase inNet profit to Rs 3,458 crore for Q3 and a revenue at Rs 90,333 crore.
Infosys is witnessing an increasing adoption of generative artificial intelligence ( Gen AI ) among its clients. To meet the growing demand , the IT major is developing over 100 new agents in the Gen AI space. The company 's better - than - expected Q3 results were also bolstered by its strong deal pipeline. Large deal Total Contract Value ( TCV ) of $ 2.5 billion in Q3 , with 63 percent of those being net new. IT firm raises annual revenue growth guidance to 4.5 - 5 % , eighth revision in nine quarters , despite seasonal weakness.
Results Today , Wipro , Tech Mahindra , SBI Life Insurance Company , Indian Hotels , Jio Financial Services , and Swaraj Engines will announce their quarterly earnings on January 17 and 18 .
Infosys Q3 ( Consolidated QoQ),Profit increases 4.6 % to Rs 6,806 crore Vs £ 5,447 crore , Margin expands 10 bps to 18 % Vs 17.9%,board approves acquisition of 100 % equity stake of Lakadia B Power Transmission from REC Power Development and Consultancy . Take a look at which stocks will be in focus in today 's trade .
Landmark Immigration Consultants IPO was booked 1.79 times at the end of the first day of subscription on Thursday . The retail portion was subscribed 2.77 times , the non - institutional buyer portion 0.9 times and the qualified institutional buyer portion 1.12 times . Shreni Shares is the book - running lead manager and Kfin Technologies is the registrar for the issue . Plans to use the IPO proceeds for setting up new branches , advertisement expenses towards enhancing the awareness and visibility of the brand , pursuing inorganic growth initiatives through acquisitions , and general corporate purposes .
Top Loser : -
Trent Limited: Declined by 2.80%, closing at ₹6,211.55.
Dr. Reddy's Laboratories Limited: Declined by 2.58%, closing at ₹1,302.75.
Tata Consumer Products Limited: Declined by 1.87%, closing at ₹937.70.
HCL Technologies Limited: Declined by 1.83%, closing at ₹1,792.25.
Wipro Limited: Declined by 1.57%, closing at ₹288.05.
Top Gainer : -
HDFC Life Insurance Company: Gained by 7.94%, closing at ₹641.40.
Bharat Electronics Limited: Gained by 3.10%, closing at ₹276.15.
SBI Life Insurance Company: Gained by 2.77%, closing at ₹1,513.60.
Shriram Finance Limited: Gained by 2.55%, closing at ₹546.80.
Oil & Natural Gas Corporation (ONGC): Gained by 1.94%, closing at ₹263.18.
