Honasa Consumer: Analysts predict that the stock of Honasa Consumer, the parent company of Mamaearth, is likely to debut with a flat to marginally positive listing on November 7. Mamaearth's recent IPO faced significant market challenges, although it was well-received by qualified institutional bidders (QIB), who oversubscribed the offering by 11.5 times. In contrast, retail investors demonstrated caution, subscribing only 1.4 times the allotted quota.
Wipro: Wipro Ltd., the country's fourth largest software services firm, has made it mandatory for its employees to work from the office three days a week, effective 15 November, signalling a shift in the IT industry towards decreasing remote work arrangements. This follows a move by peer Tata Consultancy Services, which has directed some of its teams to work on-site full-time, five days a week. It also said that about 55% of its employees are already coming thrice a week to office.
HPCL: State-run Hindustan Petroleum Corporation Ltd (HPCL) on Monday reported a consolidated net profit of ₹5,826.96 crore for the July-September quarter on the back of low crude prices and higher gross refining margin (GRM). During the same period of the last fiscal, the oil marketing company had reported a net loss of ₹2,475.69 crore. HPCL's revenue during the period under review, however, declined 10.15% to ₹1 lakh crore.
Bajaj Finance: Bajaj Finance Ltd on November 6 announced the launch of a qualified institutional placement (QIP) to raise funds, with the floor price set at “ ₹7,533.81 per share". The company informed the exchanges that it may offer a discount of up to 5% on the floor price. The issue was given the nod by the company's QIP Special Committee, which met earlier in the day.
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