Top headlines: Zomato’s IPO impact; early bird firms’ net profit up 71%

Business Standard brings to you the top headlines on Monday

Zomato’s market capitalisation breached the Rs 1-trillion mark, overtaking some of India’s biggest companies. The blockbuster listing that led to this milestone will pave the way for other food tech firms, such as Swiggy, to go on a similar road. Read more on this and other top headlines for the day.

‘Zomato’s stellar IPO to have positive impact on foodtech firms’ valuation’ The blockbuster listing of online food delivery company Zomato is expected to set the stage for many food technology (foodtech) firms, including Swiggy, to follow suit. The stellar listing is expected to have a positive impact on their valuations if they plan to list or raise funds, said analysts and experts Zomato, the Gurugram-based company, is operating in a nascent industry. However, its Rs 9,375-crore maiden offering is now considered a test case for other foodtech start-ups planning to go public. Zomato’s initial public offering (IPO) drew bids worth Rs 2.1 trillion – it was subscribed 40x. On Friday, the stock ended with a gain of 66 per cent. Read more Q1 results: 230 early bird companies report 71% jump in net profit

The companies in cyclical sectors are likely to drive corporate earnings in the June 2021 quarter, too. The combined net profit of 230 early bird companies in Q1FY22 is up 70.6 per cent year-on-year (YoY), because of a favourable base and strong showing by firms in cyclical sectors, such as banking, metals & mining, cement, and oil & gas.

Comments

Best Unconventional Workout and Sporting Activities for Summer

In summers, depending upon conditions and circumstances one can incorporate both outdoor and indoor activities in their training schedule. Summer is the season of holidays, picnics, outings and beaches. With travel and binge eating proper workout becomes that much more essential in summers. But with heat and the sun outdoors, an individual has to balance his indoor and outdoor activities to get a fulfilling workout. In summers, depending upon conditions and circumstances one can incorporate both outdoor and indoor activities in their training schedule. Mentioned below are some of the best physical and sporting activities that one can use as a workout to stay fit in the summer season. Beach Sports - If in summers one is going to spend much time on beaches or at a beach destination then one may use beach sporting activities such as beach rugby, beach soccer, beach tennis and beach volleyball to stay fit. All of these sporting activities on sand provide a ...

Mi Notebook Ultra review: Xiaomi energises the boring consumer PC segment

The Mi Notebook Ultra challenges the conventions set by the legacy consumer PC makers by democratising features and specifications usually seen in laptops that cost almost twice as much I was planning to buy a midrange laptop and was amazed to see that every other legacy brand in the consumer PC market had products with similar features and specifications. Blame the oligopoly, but as a consumer I was almost convinced that the product offerings by the legacy PC makers were the best available in the market. And then was released the Mi Notebook Ultra by Chinese technology company Xiaomi. A premium laptop, the Mi Notebook Ultra challenged the conventions set by legacy consumer PC makers by democratising features and specifications usually seen in laptops that cost almost twice as much as the top-end model (review unit – Rs 76,999) on offer here. Starting with the design, the Mi Notebook Ultra boasts a unibody made of series 6 ...

Back in TV studio after release from jail, Arnab dares Maharashtra CM

Goswami also singled out Mumbai police commissioner Param Bir Singh for his ‘illegal’ arrest on November 4 in a 2018 suicide abetment case Back in the familiar environs of the TV newsroom after a week in judicial custody, journalist Arnab Goswami on Wednesday hit out at Maharashtra Chief Minister Uddhav Thackeray for arresting him in a ‘fake’ case. “Uddhav Thackeray, listen to me. You lost. You have been defeated,” said Goswami (47), while being surrounded by visibly relieved colleagues from his Republic TV channel. Soon after his release from Taloja jail near Mumbai around 8.30 pm, Goswami drove to the Lower Parel studio of the channel, of which he is the Editor-in-Chief. Arnab Goswami also singled out Mumbai police commissioner Param Bir Singh for his ‘illegal’ arrest on November 4 in a 2018 suicide abetment case. Goswami said that while in Taloja jail since November 8, he was subjected to three rounds of police interrogation. “Uddhav Thackeray, you arrested me in a...

Budget 2018-19

Search This Blog