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MakeMyTrip enters shared mobility segment with majority stake in Quick Ride
MakeMyTrip announced the acquisition of a majority stake in Quick Ride, a shared mobility platform. The investment aims to strengthen its presence in the shared mobility segment, complementing existing ground transportation services. Quick Ride’s operations will be led by its current promoters under a new entity called Co Ride Mobility Private Limited. The acquisition reflects MakeMyTrip's strategy to expand its capabilities across various travel segments.
Groww shares decline 7% after Rs 3,708 crore block deal involving 2.8% equity
Shares of Groww parent Billionbrains Garage Ventures fell on Friday after a block deal involving 17.42 crore shares, or 2.8% of the company's equity, worth around Rs 3,708 crore was executed at an average price of Rs 215 apiece. The buyers and sellers were not immediately identified. The decline followed a sharp rally in the previous session, when the stock touched Rs 225.75, and may indicate profit-booking.
Mahindra & Mahindra shares gain 3% after Q2 profit jumps 25% to Rs 4,588 crore, revenue grows 25%
Mahindra & Mahindra shares rose after the company reported a 25% year-on-year jump in consolidated Q2 net profit to Rs 4,588 crore. Revenue also grew 25.4% to Rs 57,515 crore. Total expenses increased 25.9% to Rs 51,845 crore.
Titan Company shares drop 3% after Q2 results. Why Emkay, Nuvama and others remain bullish
Titan shares declined despite a 54% rise in adjusted net profit for the September quarter. Strong demand for jewellery, watches, and eyewear supported performance, while brokerages remained largely positive on the stock, citing growth prospects, market-share gains, and improving margins.
South Korea stocks plunge 8%, circuit breaker triggered as chip shares tumble
South Korea's KOSPI stock index fell more than 8% during early trading on Friday, reflecting a significant sell-off. The stock market decline was primarily driven by losses in technology and semiconductor shares. As a result, a circuit breaker was activated by the Korea Exchange to halt trading temporarily. Experts indicated that the reaction may be an overreaction to recent US midterm election outcomes.
European shares rise as miners rally, tech stocks lag
European shares opened higher, led by mining stocks, as strong earnings from ArcelorMittal and easing oil prices supported sentiment. Technology stocks declined amid concerns over US policy scrutiny of AI infrastructure, while Rheinmetall plunged after cutting its sales forecast.
Aartas CliniShare to add 20,000 sq. ft of co-working space
Aartas CliniShare aims to add 20,000 sq. ft. of healthcare infrastructure across Delhi NCR by the financial year-end. The company is focusing on Noida, West Delhi, and North Delhi for its expansion efforts. Aartas CliniShare operates on a managed OPD infrastructure model to serve various healthcare enterprises.
Tata Motors, Ashok Leyland shares rocket up to 12%. Here are 2 reasons fuelling the sharp surge
Ashok Leyland and Tata Motors shares rallied, tracking a sharp fall in crude oil prices and a broader market recovery amid hopes of a negotiated settlement to the Iran conflict. Brent crude plunged nearly 9% in the previous session and extended losses on Thursday, easing fuel cost concerns for fleet operators.
Hong Kong stocks jump 3%, China shares edge higher as tech stocks rally
Hong Kong stocks rallied sharply, led by technology and gold shares, as investors welcomed the US midterm election outcome. Alibaba and Tencent drove gains, while mainland Chinese equities advanced modestly. Energy stocks tumbled as crude oil prices plunged on hopes of easing geopolitical tensions.
KOSPI plunges 4% as Samsung, SK Hynix shares slide
South Korea's KOSPI plunged over 4%, with Samsung Electronics and SK Hynix leading losses as semiconductor stocks tracked a sell-off in US technology shares. Concerns over tighter AI regulations and a potential slowdown in investment weighed on sentiment, triggering a sidecar trading curb after the index fell over 5%.
Lenskart shares rally over 10% as strong Q2 triggers target price hikes. What are Jefferies and Morgan Stanley saying?
Lenskart shares surged over 10% after the company reported a 122.1% year-on-year rise in consolidated profit to Rs 227.08 crore for the September quarter. Strong Q2 results prompted brokerages Jefferies, Morgan Stanley and Motilal Oswal to raise their target prices, citing robust revenue growth, margin expansion opportunities, competitive advantages and the company's long-term growth prospects.
Asian shares mostly advance following US midterms, though Kospi falls on selling of chipmakers
Asian markets experienced an upswing on Thursday, buoyed by a rebound in U.S. equities following the midterm elections. The Dow Jones leapt over 3% as political shifts occurred, leading to the loss of control for President Trump's party. Meanwhile, South Korea's Kospi mirrored struggles in the tech sector, particularly affecting AI stocks, while a drop in oil prices severely impacted energy firm shares.
Bharat Electronics shares gain 3% as Motilal raises target price after Q2; Elara Capital upgrades to Buy
Bharat Electronics shares gained after Motilal Oswal raised its price target and Elara Capital upgraded its rating to Buy. Brokerages cited strong order visibility, healthy revenue growth and margin prospects, while delays in major defence orders remain a key risk.
Emcure Pharma shares hit 10% upper circuit after FY27 guidance hike; Jefferies raises target price by 8%
Emcure Pharma shares hit a 10% upper circuit after strong Q2 FY27 results prompted the company to raise its full-year growth guidance. Brokerages turned more positive, citing robust international business, improving domestic growth and a strong product pipeline.
MCX shares tumble 7% even as Q2 net profit surges 130% YoY, revenue more than doubles
MCX shares fell nearly 7% despite reporting 130% growth in second-quarter net profit and a 114% rise in revenue. Jefferies said EBITDA was largely in line with estimates, while higher technology costs and taxes affected the results.
SBI share price target: Jefferies, Motilal, others see up to 34% upside in state lender. Buy, sell or hold?
State Bank of India has seen a remarkable 15% increase in profits year-on-year, totaling Rs 23,038 crore for the second quarter. With a loan book surpassing Rs 52 lakh crore and a 10% rise in interest income, brokerages have set optimistic Buy ratings on SBI shares, suggesting target prices between Rs 1,225 and Rs 1,350. Despite this positive outlook, management highlighted possible obstacles from macroeconomic shifts and potential treasury losses.
ITC shares rise 2% after Q2 results. What are Jefferies, Nuvama and others saying?
ITC shares gained 2% despite an 18.5% year-on-year decline in Q2 net profit, as higher taxes and falling cigarette earnings weighed on profitability. However, its FMCG business delivered strong growth. Jefferies, Nuvama, Emkay and DAM Capital remain positive on the stock, with target prices ranging from Rs 300 to Rs 355.
Irdai tightens ESOP norms, share transfer rules for insurers
Irdai has implemented stricter rules regarding employee stock option plans for insurance companies to regulate ownership stakes. Senior executives and directors must seek approval to exceed prescribed shareholding limits under these plans. Insurers are required to monitor direct and indirect share allotments to prevent regulatory breaches.
South Korean shares rebound as strong exports spur dip-buying
South Korean shares rose after early losses due to strong export data that improved investor sentiment. Exports from South Korea nearly doubled in October, marking their highest increase in over 50 years. Analysts indicated that this performance might lead to upward revisions in corporate earnings forecasts. However, factory activity in South Korea expanded at its slowest pace in eight months.
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