Adani Group stocks continue to bleed

Adani Group stocks were hit further on Monday, following the downgrading of four group firms by Moody’s. Adani Enterprises slumped 7%, while Adani Ports shed 5.25%. Five group firms — Adani Total, Adani Transmission, and Adani Wilmar, Adani Green, and Adani Power — were locked in their lower circuit of 5% on Monday. Among other […]

Sensex, Nifty see much-awaited correction, but remain positively biased on Indian equities

By Milind MuchhalaThe Indian equity market finally seems to be witnessing the much-awaited correction, although the headline index is getting some support from the healthy performance of the financials. However, this is masking the weakness in the broader market, especially in the midcap and small cap space. While the respective indices have corrected by ~8-10%, […]

Mamaearth parent files for IPO; Shilpa Shetty, Kunal Bahl to sell partial stake, Sequoia not to sell in OFS

Mamaearth’s parent firm Honasa Consumer Ltd, co-founded by Shark Tank fame entrepreneur Ghazal Alagh, has filed DRHP for an IPO to raise up to about Rs 3,000 crore for existing selling shareholders and fresh issue, according to reports. Honasa Consumer is the owner and operator of personal care brands such as Mamaearth, BBlunt and The […]

GCPL: On track for robust growth

By Nuvama Research FMCG major Godrej Consumer Products Ltd (GCPL) expects a double-digit sales growth in the domestic market for the December 2022 quarter. GCPL’s Q3FY23 update, is better-than expectations with a 9% y-o-y Ebitda growth (versus a 15% y-o-y dip in Q2FY23). This is the first quarter to showcase meaningful improvement under the new […]

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