Booking Financial News

Vanguard Group have cut the value of their holdings in ANI Technologies, the parent firm of ride-hailing startup Ola, to $3.5 billion – down over 50% from a peak of $7.3 billion – regulatory filings made by the investor with the US Securities and Exchange Commission (SEC) on Monday showed. The latest filing reflected Ola’s valuation as of May 31 in the investor’s books.

FIIs) were the net sellers of securities worth of ₹92.85 crore, while domestic institutional investors (DIIs) bought securities for a net total of ₹1,035.69 crore. Domestic equity markets experienced minor losses. The market started positively, but profit booking led to a range bound trading session.

Nasdaq listed MakeMyTrip reported a profit of $ 18.6 million for the first quarter of fiscal year 2024 compared to a loss of $10 million in the corresponding period of the previous fiscal. The company clocked gross bookings of $ 1987.5 million for the first quarter of fiscal year 2024, up by 31.4% year on year. The company said travel demand for both leisure and business travel witnessed ‘strong growth’ during the quarter leading to all-time high gross bookings in the company’s history.

Enforcement Directorate has booked 19 people under the Fugitive Economic Offenders Act and out of that 10 persons have been declared as Fugitive Economic Offenders by various courts, the government told parliament Tuesday. These economic offenders were involved in fraud of over Rs 40,000 crores.

operating profit above Wall Street expectations as it sees growing demand for ride hailing due to strong leisure travel trends and gradual return to in-office work. The San Francisco-based company's shares rose about 4% in premarket trading, while rival Lyft's shares increased 2%, as Uber also reported a surprise second-quarter profit. Uber's cost controls ranging from layoffs to lower transaction costs and maintaining a steady headcount have helped the company maintain its target to post operating income profitability this year.

Nifty closed in the red on Tuesday on profit booking in select heavyweights, including Reliance Industries, Power Grid, SBI and ICICI Bank amid mixed global cues. Investors booked some profit in the absence of any fresh trigger.

Concord Biotech IPO Dates: Concord Biotech IPO opens on August 4 and will close on August 8. The finalisation of allotment is expected to take place on August 11, while refunds will be initiated on August 14. The shares will be credited to the Demat accounts of eligible investors on August 17.

Reliance Industries, Power Grid, SBI and ICICI Bank amid mixed global cues. Investors booked some profit in the absence of any fresh trigger. The domestic market is trading at a premium valuation.

Kaun Banega Crorepati' is returning to the small screen with a big bang. Bollywood megastar Amitabh Bachchan will return as the host of the iconic game show for the 15th season. The official streaming channel of the TV show, Sony TV, took to social media to announce the news.

Stocks to buy today: Power stocks have been in uptrend since early morning deals. Power major Adani Power share price is up by near one per cent, NTPC share price has risen to the tune of 3.50 per cent, Tata power shares are up by near 3 per cent while IEX share price has risen over 5 per cent during Tuesday deals.

Rio Tinto chief executive Jakob Stausholm says a low carbon solution for the company’s Australian aluminium assets must be found before 2030, and insisted while the fix is not within reach, he is committed to working with governments to find one.

InterGlobe Aviation report a profit for the quarter ended June 2023 as against a loss a year ago. The operator of IndiGo airlines is seen reporting a consolidated net profit of Rs 1,769 crore compared to a loss of Rs 1,064 crore a year ago.

Entrepreneurs spend years transforming their businesses but sometimes can miss the tell-tale signs of downfall. The same happened with businessman Vijay Mallya, who is absconding after he was unable to pay his debt of Rs 9,000 crore ($1.1 billion).Kiran Mazumdar-Shaw, who was named in the 100 most influential people of the world list in 2010 by TIME magazine, recently revealed on Zerodha co-founder Nikhil Kamath's popular podcast series 'WTF' her equation with Mallya. The Executive Chairperson of Biocon Limited said that they were next-door neighbours and grew up together. «He considered me as his elder sister,» she shared with Kamath. Calling Mallya a 'dear friend' and a 'nice guy', the businesswoman said that the defamed industrialist has a «brand appeal to the youth.» When Kamath asked what made Mallya likeable, she said that he is a generous man who loves his friends. While the former liquor baron was a passionate serial entrepreneur, Mazumdar-Shaw said that he was unable to recognise the warning signs of failure. Mallya, who was heading the United Breweries Group, wanted to try out different businesses. But, getting into Kingfisher Airlines was a «blunder,» said the biotech boss.

TPG Telecom has been quietly negotiating a multibillion-dollar sale and leaseback of its non-mobile fibre assets with Macquarie-backed rival Vocus in a bid to lighten its $6.2 billion debt load, Street Talk can reveal.

Renewable Energy Service Company (RESCO). Recently, the business unveiled TrueRE as its official brand. The company, according to the red herring prospectus (RHP), thinks that maintaining its brand is essential to gaining widespread recognition for its services.

Deven Choksey, MD, KRChoksey Holdings Pvt. Ltd, says “today, there is definitely a margin of safety in these kinds of companies. It is not available immediately.

Varun Beverages Ltd. rose 0.07 per cent to Rs 804.85 in Tuesday's trade as of 11:31AM (IST) even as the benchmark Nifty ruled at 19740.25, down 13.55 points. The scrip had closed at Rs 804.3 in the previous session.

Ola Electric. The name, coincidentally translates to 'electricity,' cleverly aligning with the company's identity. The pictures, shared by Aggarwal on microblogging site Twitter has now gone viral.

Vinsys IT Services IPO: The initial public offerings (IPO) of Vinsys IT Services Limited today opened for subscribers and it will remain open for bidders till 4th August 2023. The IT services company has offered this public issue at a price band of ₹121 to ₹128 apiece and the book build issue is proposed for listing on NSE SME exchange. So, Vinsys IT Services IPO is a SME IPO that will list on the SME exchange.

shipping companies are plowing their pandemic windfalls into orders for new vessels on an unprecedented scale, making an industry known for hair-raising cycles of boom and bust more vulnerable in the latest downturn. Container carriers like MSC Mediterranean Shipping Co., A.P. Moller-Maersk A/S, CMA CGM SA and Hapag-Lloyd AG — all backed by European billionaires — are spending record profits gleaned during the health crisis to splash out on new models mostly from Korean and Chinese shipyards. This has pushed the global order pipeline to a historic level — almost $90 billion by one estimate. But the tide has turned in the notoriously cyclical sector as freight rates flirt with below-breakeven levels and fears about overcapacity re-emerge. “Too many large container ships have been ordered,” said Erik I. Lassen, chief executive officer of Danish Ship Finance A/S, a company providing vessel financing. He noted that deliveries are now starting at a time when supply chains are running more smoothly and demand for freight transport is back to pre-pandemic levels. “There will be shipowners — tonnage providers — out there that will have stretched themselves,” he said in an interview. “Although the last couple of years have been profitable for shipping, the accumulated earnings are far from enough to fund the investment in new technology and ships in the coming decade.”

Deepak Shenoy, Founder, Capital Mind, says “in the near term, Narayana Healthcare stock prices have gone up and so there may be some corrections. But longer term, it should be valued at much higher than it is as the Cayman Islands capex comes through and as some of the expansion within India also takes place. I do not believe they are too expensive.