Macquarie raises Zomato's target price to Rs 130 but maintains an 'underperform' rating due to growth risks. Zomato's competitor Swiggy also attracts mixed ratings from brokerages.
Prosus NV, Tencent's top investor, has made over $2 billion from its investment in Swiggy, highlighting the value of its portfolio beyond Tencent. Prosus and Naspers Ltd. invested $1.3 billion for a 31% stake in Swiggy, which is aiming for an IPO valuation of up to $11.3 billion in India.
Hyundai Motor India Share Price: Hyundai India's shares tumbled over 5% after the company reported a 16% decline in Q2 profit, citing weak demand and high discounts. Despite the challenging market conditions, several brokerages remain optimistic about Hyundai's long-term growth prospects, driven by its SUV lineup and export opportunities.
Samvardhana Motherson International saw a significant increase in net profit for the second quarter of the financial year 2025. The company's net profit rose by 222.5% year-on-year. Revenue from operations also experienced a nearly 19% increase. Despite this positive financial performance, the company's shares fell by 3.3% in early trading.
Macquarie initiates an 'Underperform' rating on Swiggy, giving it a target price of Rs 325. They believe that while Swiggy has growth potential, profitability remains a challenge, particularly in the quick commerce segment. Swiggy's IPO, meanwhile, saw a decent subscription rate and is set to debut on the stock exchange.
Vivek Ramaswamy, a self-made billionaire, made his fortune in biotech. He founded Roivant Sciences, a company that develops pharmaceuticals. Ramaswamy also invests in technology and cryptocurrency. He entered politics with a focus on economic philosophy. He advocates for "excellence capitalism." Ramaswamy founded Strive Asset Management, an investment firm. He is known for his modest lifestyle despite his wealth.
Brokerage firm Macquarie has placed an underperform rating on Zomato, signaling caution on the stock. In contrast, Citi has upgraded Ramco Cements to a "Buy" rating, reflecting optimism about the company's prospects.
Acme Solar Holdings made its stock market debut today, with shares trading at a discount in the grey market. Despite recent growth and profitability, analysts are cautious due to the company's high debt levels. The IPO received a decent response from investors, aiming to raise funds for debt repayment and general corporate purposes.
