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Blinkit Co-founder & CEO keeps silent on merger with Zomoto, says the company is just just executing its game plan and building up the business. They have the financial support to be able to build up the business and are very confident that they will make this business profitable as well.

Ruchi Soya FPO subscribed 24% so far on Day 2

Updated at : 2022-03-25 15:20:03

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As of 2.30 pm, the issue was subscribed close to 24 per cent, with total applications coming in for 1,19,79,975 shares against 4,89,46,260 on offer.

On capital, management does not see the need for any capital raise in the next two years, as once the profitability normalizes, the required solvency margin will move to premium from claim.

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"With the certainty of the merger being higher given Invesco’s support and recovery in the ad market, the stock can potentially see a re-rating in its valuation. We value ZEE at 25 times FY24 EPS and maintain our Buy rating," Motilal Oswal Securities said while suggesting a target of Rs 410 on the stock.

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The brokerage forecasts Rev/ EBITDA/PAT CAGR of 33%/29%/31% over FY22-24E.

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SJS has the most comprehensive product portfolio and superior profitability among its peers is well placed to benefit from industry tailwinds.

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As of 31-Dec-2021, promoters held 51.5 per cent stake in the company, while FIIs held 7.94 per cent and domestic institutional investors had 3.38 per cent.

“The next 18 months is the time to accumulate FMCG. We think that along with asset allocation, looking at themes which have done badly is a good way to invest for the future. That is why we have launched Housing Opportunities NFO and it gets us to invest in a number of sectors like banking, cement, housing finance and power which have also done badly over many years.”

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TCS had proposed to buy back up to 4,00,00,000 shares of the company for an aggregate amount not exceeding Rs 18,000 crore, or 1.08 per cent of the total paid up equity share capital, at Rs 4,500 per share.

Australian shares extend gains as miners advance

Updated at : 2022-03-25 14:20:02

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The S&P/ASX 200 ended 0.3% higher at 7,406.2, adding 1.5% for the week.

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