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Bansal Wire IPO booked 5.72 times on Day 2. Check GMP and other details
Bansal Wire's IPO has been nearly 4 times oversubscribed on its second day, fueled by robust demand from non-institutional and retail investors. The IPO, conducted through the book-building method, reserves 50% for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.
Wary Paytm to avoid regulated biz; Foxconn to make AI servers in India
Happy Friday! Paytm is steering clear of regulated businesses and will instead focus on building a strong distribution network. This and more in today's ETtech Morning Dispatch.
A new $72,000 migrant smuggling route to the US starts with a charter flight, and many Indians are waiting to board
Indian nationals on a Legend Airlines flight faced challenges in El Salvador as they attempted to reach the U.S. via Mexico. The incident sheds light on a new phase of illegal immigration through intercontinental smuggling routes, impacting U.S. border policies and migrants' journeys.
More users uplinking to 5G coming with a cost: Lower download speeds
Opensignal's report highlights the impact of rapid 5G deployment in India, revealing a surge in data usage that has strained mobile networks and led to decreased download speeds. In the first quarter of 2024, Reliance Jio's average download speeds declined compared to a year ago, while Bharti Airtel's improved. The national 5G download speed decreased from 304 Mbps in Q1 2023 to 280.7 Mbps in Q4 2023 due to increased subscriber numbers and data traffic.
Modi 3.0: Industry seeks roadmap to cement India's lead in global digital arena, vows support
The Digital Infrastructure Providers Association (DIPA) has expressed full support for India's digital and telecom transformation under the new government, emphasising the need for a clear roadmap to solidify the country's leadership in digital infrastructure. DIPA highlighted the success of initiatives like Digital India and PM WiFi Access Network in enabling broad digital adoption, with Director General Tilak Raj Dua stressing the industry's readiness to collaborate with the government.
From phones to fries: Flipkart users may soon be able to order food via ONDC
Flipkart users may soon be able to order from various fast-food outlets and restaurants, such as Dominos and McDonalds, from Flipkart app. This development is noteworthy because the government started ONDC to counter the dominance of Amazon and Flipkart. Recently several top Flipkart executives met ONDC officials for the integration.
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Airtel to deploy FWA on SA network, full scale impact likely in FY2Q: Gopal Vittal
Bharti Airtel is deploying fixed wireless access (FWA) services in 25 cities. The full-scale impact is anticipated in the second quarter, crucial for 5G monetization and follows a standalone architecture approach like Reliance Jio.
IndiGo in talks for 100 smaller planes as part of plan to widen regional network
The airline, which already operates 45, 78-seater ATR-72 planes and will take delivery of five more this year, is expected to stick with Franco-Italian manufacturer ATR to benefit from economies of scale, people aware of the development told ET. However, the Airbus A220 and Embraer’s E-175 planes also remain in fray, they added.
Pay DTH operators lost 0.66 million subscribers in festive quarter
According to the Telecom Regulatory Authority of India's Performance Indicator Report for the quarter ending December 31, the pay DTH base of the four private DTH operators declined to 63.52 million from 64.18 million in the trailing quarter.
TAC Infosec IPO subscribed nearly 400x, Radiowalla Network's issue booked 282x at close. Check GMP and other details
The SME IPOs of TAC Infosec and Radiowalla Network, backed by marquee investors Ashish Kacholia and Vijay Kedia, received massive responses from investors on Tuesday, the final day of the bidding process. Both the issues closed today.
TAC Infosec IPO booked 48x so far on Day 3; Radiowalla Network's issue subscribed 28x
TAC Infosec and Radiowalla Network, supported by Ashish Kacholia and Vijay Kedia, witness strong investor interest in their IPOs. TAC Infosec focuses on cybersecurity solutions, while Radiowalla Network specializes in B2B customer engagement services.
Stock market update: Nifty Bank index advances 0.72%
The Nifty Bank index closed 0.72 per cent up at 47124.6.
2 IPOs, backed by Vijay Kedia and Ashish Kacholia, booked over 10x each on Day 2
The IPO of TAC Infosec saw an overall subscription of 17 times so far on the second day of bidding. Radiowalla Network IPO got over 10x subscriptions.
Ashish Kacholia and Vijay Kedia-backed IPOs see bumper response on Day 1; check GMP and other details
Vijay Kedia has invested in TAC Infosec IPO. It got an overwhelming response from investors. Ashish Kacholia-backed Radiowalla Network IPO also sailed through on Day 1.
Ashish Kacholia-backed Radiowalla Network IPO opens today: All you need to know before subscribing to the issue
Radiowalla Network IPO is an SME IPO that looks to raise Rs 14.25 crore. The IPO is entirely a fresh equity issue of 18.75 lakh shares.
Ashish Kacholia-backed Radiowalla Network announces IPO dates, price band. Check details
The company is aiming to raise Rs 14.25 via this IPO, which closes on April 2. The issue size is of 18.75 lakh shares at face value of Rs 10 each.
Reliance shares rally but TV18, Network18 fall 5% as investors react to Ambani-Disney deal
Reliance Share Price: Reliance Industries and Disney form a joint venture combining Viacom 18 and Star India businesses. Jefferies values Disney's business lower. The JV has cricketing rights and a 40% share of the advertising market. Media assets include Colors, StarPlus, StarGOLD, Star Sports, Sports18, JioCinema, and Hotstar.
Indian Army plans Rs 57,000 crore project to replace 1,800 aging Russian T-72 tanks with advanced AI battle machine
The Indian Army, with 12 lakh personnel, is gearing up to upgrade its tanks and introduce new ones, in response to reports on tank vulnerabilities. Senior officers attribute the heavy losses of Russian tanks in Ukraine to poor tactics, highlighting the need for combined-arms operations. A mega project worth Rs 57,000 crores aims to produce 1,770 Future Ready Combat Vehicles (FRCVs) to replace old T-72 tanks, starting in 2030. These FRCVs will feature advanced technologies like AI, drone integration, and active protection systems.
About 88% of professionals in India are considering a new job in 2024: LinkedIn
Nearly 88% of professionals in India are considering a new job in 2024, an increase of 4% from last year, showing a shift in attitude towards career growth. Job search activity on LinkedIn increased by 9% as compared to last year. Better work-life balance and higher wages are the biggest motivators for changing jobs. Professionals are also looking for opportunities outside their industry or role.
ZestMoney posts Rs 412 crore loss for FY23, revenues increase 72%
Overall revenue for the buy-now-pay-later platform grew 72% to Rs 250 crore during the year. Total expenses in FY23 also rose 21% year-on-year to Rs 662.2 crore.
Buy Tejas Networks, target price Rs 1,050: Emkay Global Financial Services
"Tejas Networks (Tejas), India’s largest R&D-driven telecom equipment company, designs and manufactures wireline/wireless networking products. We expect Tejas to execute orders worth at least Rs292bn over FY24-28E, and generate revenue/EBITDA above Rs300bn/Rs60bn, respectively, led by the BSNL and BharatNet projects."
Buy Satin Creditcare Network, target price Rs 330: JM Financial
Satin Creditcare Network Ltd., incorporated in the year 1990, is a Small Cap company (having a market cap of Rs 2625.86 Crore) operating in NBFC sector.
Railways planning a nearly 300-km circular rail line in Bengaluru for local trains
South Western Railway (SWR) has proposed the development of a 287-km-long circular rail network on the outskirts of Bengaluru. The project aims to enhance local train services, alleviate congestion on existing rail networks, and complement the Bengaluru Suburban Rail Project (BSRP) and Namma Metro. The proposed network will connect important locations like Devanahalli and Heelalige, reducing load on long-distance trains and benefiting daily commuters from satellite towns.
Jeep India expects to increase dealership network to 80 by 2023-end
Jeep India has opened a new dealership, SGA Jeep, in Coimbatore, Tamil Nadu, expanding its retail network. The company aims to increase its dealership count to 80 by the end of the year, with its presence currently in 64 cities across India. The new dealership offers the full range of Jeep models and a dedicated service workshop to provide customers with a world-class service experience.
TV Today Network Q2 Results: Net profit declines 64% YoY to Rs 7.02 crore
Its revenue from operations was marginally up 1.05 per cent to Rs 213.86 crore during the period under review as against Rs 211.63 crore in the corresponding quarter of the previous fiscal.
India fastest-growing office for Palo Alto in last five years: CEO Nikesh Arora
Chief executive officer Nikesh Arora who has led the transformation of the firewall-focused network security vendor into today’s diversified cybersecurity provider says that in the last five to seven years, cyber-attacks have gone from being a hobby to a profession, this is triggering sustained demand for cyber-security products globally.
Buy Satin Creditcare Network, target price Rs 320: JM Financial
Satin Creditcare Network, incorporated in the year 1990, is a Small Cap company (having a market cap of Rs 2414.14 Crore) operating in NBFC sector.
Bitcoin falls 7.2% to $26,634
Bitcoin, the world's biggest and best-known cryptocurrency, is down 16.3% from the year's high of $31,818 on July 13.
Stock market update: Nifty Pharma index advances 0.72%
The Nifty Pharma index closed 0.72 per cent up at 13871.6.
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