Monday, December 6, 2021
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nykaa ipo: ETMarkets Morning Podcast: What makes Nykaa IPO an attractive proposition for long-term investors? | The Economic Times Podcast


Hi there, Good Morning. Welcome to ETMarkets Morning, the show about money, business and markets. I am Nikhil Agarwal. Let’s start with the headlines first.

– Centre consults RBI for liberal PSB sale norms
– After two-day pause, petrol price is up again
– Reliance-ACRE submits EoI for Sintex Industries
– Kotak Mahindra, Axis and IndusInd submit bids for Citi’s consumer business

Now lemme give you a quick glance on the state of the markets.

Dalal Street is likely to have a negative start this morning. Nifty futures on the Singapore Exchange traded 44 points higher at 8:50 hours (IST). Asian shares opened lower on Wednesday on profit-taking after sharp rallies in the previous session, as investors closely watched this week’s corporate earnings. MSCI’s index of Asia-Pacific shares outside Japan was down by 0.69 per cent.

Elsewhere, the yield on 10-year Treasuries rose one basis point to 1.62%. The Bloomberg Dollar Spot Index was little changed. Bitcoin slipped to around $60,500. Oil prices fell on Wednesday after industry data showed crude oil stockpiles rose more than expected and fuel inventories unexpectedly increased last week in the United States, the world’s largest oil consumer. Brent oil futures fell 25 cents, or 0.3%, to $86.15 a barrel.

That said, here’s what is making news.

FSN E-commerce Ventures, the holding company of Nykaa, plans to raise Rs 5,352 crore from the primary market, valuing it at nearly Rs 53,000 crore (US$ 7.1 billion). The company will use Rs 630 crore for brand visibility, store expansion, and debt repayment while the remaining 88 per cent of the IPO is an offer for sale. The promoter group will hold nearly 52 per cent stake after the IPO. Nykaa sells beauty and personal care products, and apparel and accessories through online as well as physical channels. Over the years, it has grown rapidly while turning profitable. Investors willing to gain exposure to online retailing may subscribe to the IPO considering the growth prospects.

China’s Ant Group, the largest shareholder in Paytm, is expected to execute nearly 50% of the secondary share sale through the offer for sale (OFS) in the upcoming initial public offering (IPO) of the fintech firm, ET reported. Paytm, backed by Japan’s SoftBank and China’s Alibaba, has also finalised plans to increase the total IPO size by another Rs 1,700 crore, taking the total to Rs 18,300 crore (around $2.5 billion).

Cipla posted higher-than-expected profit growth at 7% in the September quarter, aided by a 10% increase in revenues. Contributing over 40% to total revenues, domestic market sales grew 16% on a high base of Covid-led drug sales. Sustained growth in the company’s core therapies such as respiratory and urology compensated for the normalising contribution of the Covid portfolio.

LASTLY,

Robinhood Markets Inc’s shares fell below their initial public offering price in after-hours trading on Tuesday after the retail broker reported softer revenue than expected for the third quarter as trading levels declined for cryptocurrencies like dogecoin. Shares of Robinhood were down 8.77% at $36.10 following the release of the results, below the $38 they were priced at in the Menlo Park, California-based company’s July IPO and well below the $85 they hit in August.

NOW Before I go, here is a look at some of the stocks buzzing this morning…

Bajaj Finance reported a 53 per cent jump in consolidated net profit at Rs 1,481 crore for the quarter ended September on healthy interest income. It had posted a net profit of Rs 965 crore in the same quarter previous fiscal.

IRB Infrastructure Developers (IRB) will raise Rs 5,347 crore through preferential allotment of shares to a subsidiary to Spanish infrastructure company Ferrovial S.A and an affiliate of Singapore’s sovereign wealth fund GIC, the Mumbai-headquartered company said on Tuesday.

Cement maker Ambuja Cement has reported a consolidated net profit of Rs 890.89 crore during the September quarter, up 11 per cent year-on-year as against Rs 803.55 crore reported a year earlier on the back of high sales revenue.

Britannia is creating a new position of chief executive officer, who will report to managing director Varun Berry. The biscuits and dairy company plans to tweak its leadership structure as the businesses emerge from Covid-19-induced disruptions, consumption pickup, improved vaccination and new verticals including e-commerce and direct-to-consumer.

Do also check out over two dozen stock recommendations for today’s trade from top analysts on ETMarkets.com.

That’s it for now. Stay with us for all the market news through the day. Happy investing!



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