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Bernstein's Venugopal Garre is optimistic about quick commerce and organized retail, maintaining an overweight stance on both. Though Q-Commerce's impact on traditional retailers is expected to be limited in the near term, he sees potential for growth in tier II and tier III cities. Traditional sectors show signs of slowing, but banks are poised for growth with rate cuts.
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The value of new businesses (VNBs) for Q2FY25 is projected to be between Rs 900-978 crore, reflecting a year-on-year growth of 12% to 22%, according to brokerage estimates. Sequentially, annualized premium equivalent (APE) could rise by 24-34%, while VNB is expected to increase by 25-36%.
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Hyundai IPO GMP Today: Hyundai India's IPO opens tomorrow with shares trading at a 3% premium over the issue price in the grey market. The automaker's parent, Hyundai Motor Global, will offload 17% stake. Despite a lower GMP, Hyundai aims to use proceeds for innovation and R&D.
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