Performer Financial News

Valiant Laboratories had a decent listing at the bourses on Friday with a premium of around 21% over the issue price. The IPO was priced at Rs 140 at the upper end. The strong listing can be attributed to the company’s improving financial performance in the recent past, wherein revenues grew at a CAGR of 35% during the FY21-23 period. «Further, the paracetamol API industry is expected to clock a 5-7% CAGR between FY23 and FY27,» said analysts, while suggesting investors can hold the stock for the long term if they wish to. «With strong operational efficiencies, Valiant Laboratories has demonstrated high ROCE, positive operating cash flows, strong balance sheet, pursued growth opportunities and better managed unanticipated cash flow variations which will drive the company's performance going forward,» said Prathamesh Masdekar, Research Analyst, StoxBox. «We, therefore, remain optimistic on the company and recommend investors who have received allotment to hold their shares and consider buying on dips as well from a medium to long term perspective,» Masdekar added. The IPO was well-received by investors with a subscription rate of 29.76 times. Net proceeds from the issue will be utilised towards part-financing its capex, funding working capital requirements and other general corporate purposes. Valiant Labs is an active pharmaceutical ingredient (API/bulk drug manufacturing company, with a focus on producing Paracetamol.

playwright, Jon Fosse has been awarded the prestigious Nobel Prize in Literature. In a press note, the Royal Swedish Academy of Sciences bestowed the prize on the author for his “innovative plays which give voice to the unsayable.” Along with the prize, the 64-year-old playwright was also awarded a hefty amount of money, about 11 million kronor. In an interview with Norwegian broadcaster NRK, the author said that he felt “overwhelmed and frightened” at winning the award. “I am overwhelmed and somewhat frightened. I see this as an award to the literature first and foremost, without other considerations,” he said during the interview.

Mirae Asset Emerging Bluechip Fund SIP news: Investors can now register SIP up to Rs 25,000 per PAN per month into Mirae Asset Emerging Bluechip Fund with effect from October 10, 2023.

₹1.50 lakh . According to money experts, investing in ELSS funds in a lump sum can be a mistake as these are equity investments, and the market conditions at the time of your lump sum investment will have a significant impact on your returns.

₹200 crore was paid in cash. Also read: Mahadev betting app case: Shraddha Kapoor likely to appear before ED today; Ranbir Kapoor requests for one week time At his wedding held in Ras Al-Khaimah, Sourabh Chandrakar hired private jets to ferry family members from Nagpur to the UAE and paid celebrities from the Indian film industry to perform.

Let us look at the data. There were around 52 passively-managed schemes in the large cap category. However, only four passively-managed large cap schemes managed to outperform their respective benchmarks in 2023. Most schemes — 48 schemes – underperformed their benchmarks. In comparison, there were 30 schemes in the actively-managed large cap mutual fund category. Around 24 actively-managed large cap schemes managed to outperform their respective benchmarks in 2023. Only six schemes underperformed their benchmarks. If you want to see the performance of active large cap funds, see story: Large cap funds offer 11.45% average return in 2023; Axis Bluechip Fund give 6.87%

US Treasury yields which hit a 16-year high. This has ignited a wave of risk aversion among investors. However, certain stocks have defied the odds and garnered bullish interest during Wednesday's trading session.

By Emma-Victoria Farr and Pablo Mayo Cerqueiro

Motilal Oswal Financial Services expects systemic loan growth to remain healthy at 14% YoY in FY24, driven by continued traction in the Retail and SME segments. It estimates its banking coverage universe (excluding HDFC Bank) to report earnings growth of around 22% YoY in Q2FY24. Read here: Banking sector earnings preview: Expect a decent YoY earning growth in Q2 despite NIM compression, says Motilal Oswal ICICI Bank, IndusInd Bank, Bank of Baroda and SBI Life Insurance Company are the top picks of Motilal Oswal in the Banking, Financial Services and Insurance (BFSI) space.

(Reuters) -Elon Musk-led Tesla (NASDAQ:TSLA) on Thursday cut prices of its Model 3 and Model Y vehicles in the U.S. in a range of 2.65% to 4.23%, according to the electric vehicle (EV) maker's website.

Also read: Sourabh Chandrakar's rise from juice vendor to lavish ₹200 crore wedding As per the ANI news agency, Ranbir Kapoor had allegedly carried out promotional activities for the Mahadev betting app. In this case, ED also suspects several other A-lister celebrities and certain sports personalities who promoted the app.

(Reuters) — MGM Resorts (NYSE:MGM) International said on Thursday operational disruptions due to a cybersecurity issue in September are expected to have a negative impact on its third-quarter results.

KuCoin ($KCS) has witnessed an alarming crypto outflow of more than $116 million as the platform's proof of reserve declined in value. 

Investing.com — The Dow closed roughly unchanged Thursday as investors remain on edge over higher for longer interest rates just ahead of the Friday jobs report that will play a role in shaping the Federal Reserve’s decision on whether to raise rates next month.

A handful of asset managers have been pulling the plug on ESG-themed funds they launched several years ago — a result they all but certainly knew was coming, as not every attempt to get a slice of that booming market was going to work.

Eddie Jones and the Wallabies have spent this week preparing for the remote possibility of making the Rugby World Cup quarter-finals after a disastrous campaign. Their chances hinge not on their own performance, but a mathematical miracle in Portugal’s upcoming game against Fiji.

Artificial intelligence chipmaker Graphcore said it needed to raise cash due to widening losses, according to a filing, as Nvidia's dominance in AI chips has chilled funding for startups looking to compete directly. Graphcore produces AI chips called intelligence processor units (IPUs) that aim to take on Nvidia. It reported pre-tax losses widened 11% to $204.6 million, according to a filing of its 2022 financial statements filed Wednesday. Revenue declined 46% to $2.7 million.

Billionaire investor Ken Griffin's flagship hedge fund rallied last month when the broader market was rattled by tight monetary policy as well as rising recession fears, according to a person familiar with the returns.

David Kowach, former head of Wells Fargo Advisors, and his new firm, &Partners, bought a broker-dealer in Nashville at the end of August. Now they’re hiring and recruiting financial advisors, with recent pickups from Edward Jones and Wells Fargo Advisors.

Nifty 50 companies earned more than ₹20 crore in FY23, compared to one out of every four (27%) five years ago, a Deloitte study shared exclusively with ET has revealed. Also, half of the dozen promoter-incumbents earned more than ₹20 crore in FY23, compared to 33% in FY18. In comparison, of the 29 professional incumbents, 45% earned ₹20 crore-plus, up from 24% in FY23, according to the study.

Tesla engineer in court on Wednesday rejected a lawyer's suggestion that the company named its driver-assistant feature «Full Self-Driving» because it wanted people to believe that its systems had more abilities than was really the case. The electric vehicle maker is defending itself at the first US trial over allegations that Tesla's Autopilot feature led to a death. The lawsuit, filed in a California state court, alleges the Autopilot system caused owner Micah Lee's Model 3 to suddenly veer off a highway east of Los Angeles at 65 miles per hour (105 kph), strike a palm tree and burst into flames, all in the span of seconds.