Niva Bupa IPO GMP: The IPO of Niva Bupa Healthcare saw strong demand from retail investors, with the issue subscribed 1.28 times (128%) by the final day of bidding. By 11:15 am, retail investors had bid for 5.79 crore shares, 1.85 times their reserved portion. Qualified Institutional Buyers (QIBs) had subscribed 1.05 times their allocation.
PFC Share Price: Power Finance Corporation shares rose 9% after reporting a 9% increase in Q2 profit, driven by higher revenues and loan growth. Brokerages Bernstein and CLSA maintain 'Outperform' ratings.
Goldman Sachs initiates coverage on Tata Group's Trent with a target of Rs 8,000, expecting 27% upside. Zudio's growth potential and Trents steady performance contribute to a positive outlook.
Aarti Industries Share Price: Aarti Industries shares fell 9.3% after reporting a 43% YoY drop in PAT for Q2. Despite a 12% revenue rise, challenges in agrochemical and energy sectors impacted performance.
ITI Share Price: ITI Ltd.'s shares surged 10.3% after the company emerged as the lowest bidder for three packages of the BharatNet Phase-3 project. The total value of these packages, spread across multiple states, is Rs 4,559 crore. This win follows a recent order from BREDA for solar street light systems worth Rs 300 crore.
Biocon Share Price: Biocon shares surged 5.4% after FDA classified its Bengaluru facility as Voluntary Action Indicated (VAI). The stock is up 47.7% YoY, supported by strong technical indicators.
State Bank of India (SBI) Chairman, CS Setty, expressed optimism about achieving a Rs 1 trillion operating profit this year, driven by robust credit growth across sectors like petrochemicals, roads, and renewable energy. The bank aims for a 15% growth in its domestic loan book, reaching Rs 39 lakh crore.
Intel is bringing back free coffee and tea for employees. The company had cut several perks, including free beverages, to reduce costs. Intel also laid off thousands of employees and reduced reimbursements. The chipmaker hopes the return of free coffee and tea will improve employee morale.
