OYO GROSS BOOKING VALUE
'Kalki 2898 AD' box office: Will Prabhas-Deepika Padukone starrer break 'Baahubali 2' record on Day 1?
'Kalki 2898 AD,' starring Prabhas and Deepika Padukone, is set to make a historic impact at the box office with a projected Rs 200 crore opening day worldwide. Directed by Nag Ashwin, the film combines science fiction and Indian mythology, generating significant pre-release buzz. With anticipated high earnings from Telugu regions and substantial contributions from Hindi markets and overseas, 'Kalki 2898 AD' aims to join the ranks of the biggest Indian cinematic debuts.
Zepto’s mega fundraise; Oyo funding gets shareholder nod
Quick commerce company Zepto has raised $665 million from new and existing investors. This and more on today’s ETtech Top 5.
Management team largely in place to take Bandhan Bank forward after Chandra Shekhar Ghosh retires, says CFO
Bandhan Bank CFO says the NPA portfolio has been reduced from almost Rs 8,700 crore to about Rs 4,700 crore. That particular clean-up exercise took place in March which took care of a large part of the book that was prior to the year FY2022 and earlier and brought gross NPA levels down to almost 3.8%. We still have further journey to climb on that particular front.
Zomato in talks to acquire Paytm's movies, ticketing business; deal pegged at around Rs 2,000 crore
Zomato’s interest in acquiring Paytm's events and movie ticketing business is in line with the Gurgaon-based company's efforts towards capturing consumer demand across categories like food, grocery and entertainment. If the transaction goes through, it will be the second biggest acquisition for Zomato after it acquired quick commerce platform Blinkit in 2022 in an all-stock deal for Rs 4,447 crore.
Oyo finalises Rs 1,000 crore fundraise from Indian family offices
Oyo fundraise: Hospitality startup Oyo is raising around Rs 1,000 crore from family offices and investors. The fundraise aims to value Oyo at about $2.5 billion, marking a significant decrease from its peak valuation of $9 billion in 2021. Oyo is slated to hold an extraordinary general meeting (EGM) on Tuesday to approve the fundraise.
Zomato-Paytm ticketing deal; Oyo’s Rs 1,000-crore funding
Zomato is looking to strengthen its ‘going-out’ business with the acquisition of Paytm’s ticket booking and events business. Details on this, and more in today’s ETtech Morning Dispatch.
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Adani One superapp clocked gross sales of Rs 750 crore in FY24
According to the 2023-24 annual report of the Ahmedabad-based conglomerate's flagship company Adani Enterprises, the user base of the superapp grew to 30 million at the end of the financial year. The company aims to expand the superapp's customer base to 400 million by 2030. Adani group is also in discussions with Paytm for potentially acquiring a stake in the fintech firm.
Oyo’s maiden annual profit; RBI guidelines for fintech SRO
In a significant turnaround, hospitality startup Oyo reported its first annual profitable fiscal on Thursday. This and more in today’s ETtech Top 5.
Wipro promotes veterans; Paytm & Nykaa Q4 financials
Happy Thursday! Wipro CEO Srinivas Pallia is betting on internal talent to propel growth. This and more in today’s ETtech Morning Dispatch.
Paytm Q4 losses tripled; Oyo IPO withdrawn
Troubled fintech Paytm reported its first quarterly earnings after the RBI banned its payments bank in January. This and more in today’s ETtech Top 5.
From medium term perspective : 5 midcap stocks from different sectors with potential upside of up to 35% in one year
But it is times like this when an event is about to take place and narratives are floating in the market that one ends up making the wrong decision. So, one will have to do two things, one be bullish but be more selective and focus on managing risks.
Macrotech Developers to invest Rs 3,500-4,000 cr this fiscal to acquire land parcels
Realty firm Macrotech Developers Ltd plans to invest Rs 3,500-4,000 crore this fiscal to acquire land for housing projects and capitalize on the increasing demand for residential properties. The company aims for a 60:40 mix of owned land and joint development agreements, with a target of 10,000 apartment deliveries this year.
Not in 'rat race' to be top builder in terms of sale bookings, says Macrotech Developers MD
When asked about the reason for setting a conservative sale bookings guidance considering that few players posted more than Rs 20,000 crore pre-sales in FY24 itself, Lodha told PTI, "We are not in any rat race and neither our shareholders are bothered about any such rat race." "We want to achieve consistent growth. Consistent growth and predictable growth with low leverage is very important and that is our business model," he said.
Uber shares tumble 9% on surprise net loss, weak second-quarter forecast
The report suggests that Uber's growth could be slowing after a strong 2023 in which it dominated the U.S. ride-share market and delivery business and posted its first annual profit.
Uber forecasts gross bookings for second quarter below expectations
Uber projects lower second-quarter gross bookings due to ride-share and food delivery challenges, exceeding core profit expectations. Lyft excels in industry-wide growth and logistics services, while Uber offers a wider range of services globally.
India's first time millennial, Gen Z bookers present a vast, untapped opportunity: Nathan Blecharczyk, Airbnb co-founder and chief strategy officer
Airbnb in India saw a 30% increase in bookings in 2023, emphasizing unique stays. Nathan Blecharczyk highlighted collaborations to boost local tourism, targeting millennials and Gen Z. The company reported $2.2 billion revenue in Q4 2023.
Cholamandalam Investment Q4 Results: Net profit jumps 24% YoY to Rs 1,058 crore
Total loan disbursements increased 18% year-on-year during the quarter to a record Rs 24,784 crore in March 2024 from Rs 21,020 crore a year ago. Net profit for the year ended March 2024 increased 28% to Rs 3,423 crore from Rs 2666 crore a year earlier.
Mahindra Lifespace FY24 profit falls marginally to Rs 98 crore
According to a regulatory filing on Friday, the company's total income fell to Rs 279.12 crore last fiscal from Rs 659.56 crore in 2022-23.
HDFC Bank Q4 Update: Gross advances jump 55% YoY to Rs 25.08 lakh crore; deposits rise 26%
HDFC Bank reported a 55.4% YoY growth in gross advances to Rs 25.08 lakh crore. Domestic retail loans saw a significant increase. Deposits reached Rs 23.80 lakh crore, including CASA deposits at Rs 9.09 lakh crore.
67% of online bus ticket bookings in India come from non-metro regions: redBus report
redBus, the world's largest online bus ticketing platform, has launched India BusTrack, a report on the Indian intercity bus industry. The inaugural report covers key parameters reflecting the industry's health and trends in November and December 2023, focusing on private bus operators. It reveals a gross ticketing value of Rs 3600 crore and 36.06 million passengers during the period. The report also highlights Maharashtra and Goa as top performers in bus occupancy, while metros contributed 33% to bus bookings, indicating a growing importance of tier-II and tier-III cities.
Book some profits in mid and smallcaps & buy back on dips: S Krishnakumar
S Krishnakumar of Lion Hill Capital advises booking profits due to expensive valuations in mid and smallcaps. He says, he has been raising cash probably at about 25% plus cash at this point in time. So probably, he is in a camp which believes that good opportunities will open up when there is a correction in the next couple of months because all the good news is in the price.
New loan channels, AAA upgrade to fire up Can Fin Homes
The lender is likely to report a higher growth of 15-16% in the assets under management (AUM) for FY25 from around 12-13% currently. Addition of new distribution channels including developer tie-ups is expected to improve loan demand.
We are strong in last mile, small ticket, digital. In affordable housing, we grew 61% in 9 months: Ajay Kanwal, Jana SFB
Ajay Kanwal says: "Our net NPA is 0.7 or 0.8 now. Gross NPA at 2%. So, asset quality is good. Growth rate is good. I think we will remain steady there which is our secured business will keep growing, that is rule number one. We will maintain good asset quality. We will maintain ROEs and ROAs. We are in a comfortable liquidity position."
When Byju’s made its presence felt, in absence; and other top stories this week
Upgrad cofounder Ronnie Screwvala huddled up with a group of founders and edtech leaders to discuss the way forward from the perception hit, which the sector has taken as a result of the doings of just one company.
Integrated real estate platform Square Yards, has reported Rs 247 crore revenue during Q3 FY24, up 53% Y-o-Y
Integrated real estate platform Square Yards reported a revenue of Rs 247 crore during Q3 FY24, marking a 53% YoY increase. The Gross Transaction Value (GTV) reached Rs 10,574 crore, up 85% YoY, contributing to the company's 9-month revenue for FY24, which now stands at Rs 644 crore. Fintech and real estate services fueled the momentum, constituting 90% of the overall revenue. Financial Services exhibited a 2x growth run rate of USD 300 million disbursals per month, while real estate services picked up with a 36% YoY increase.
Khazanah in talks to lead Oyo Hotel’s $400 million fund raise
Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia, is in discussions to lead a $400 million funding round in Oyo Hotels & Homes Pvt., the Indian hotel-booking company backed by Softbank Group Corp. Oyo, founded by Ritesh Agarwal, filed for an IPO for the second time in March, but has not yet decided on the timing. The company is seeking funds for expansion and debt reduction.
Lyft beats third-quarter estimates, bookings underperform rival Uber
Gross bookings, which is a metric Lyft started disclosing in the third quarter measuring total transaction value on its platform, grew 15% from a year earlier, compared with a 31% jump in Uber's mobility business.
Festive sales may fetch Flipkart up to Rs 36,000 crore in gross sales
This year, during the first week of the festive season sales on ecommerce marketplaces, GMV grew by about 18% to around $4 billion, according to Datum Intelligence, a market research firm.
Swiggy hikes its platform fee on food orders to Rs 3
The Bengaluru-based company had initially started levying the fee in Bengaluru and Hyderabad, following which it expanded the charge countrywide. Currently, it charges the platform fee as a Rs 5 levy with a Rs 2-discount, indicating that the fee could eventually be increased further.
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