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Emcure Pharmaceuticals IPO fully subscribed on Day 1. Check GMP and other details
Emcure Pharmaceuticals' IPO attracts high demand from investors, with a price range of Rs 960-1008 per share. Analysts foresee business improvements and revenue growth potential in the global pharmaceutical market, supporting the company's expansion strategies.
Emcure Pharmaceuticals IPO: 10 things to know before subscribing to the issue
Emcure Pharmaceuticals IPO is scheduled to open for subscription on July 3 and will close on July 5. The company aims to raise approximately Rs 1,952 crore through the public offer. Market analysts indicate that the current GMP of the pharma company stands at Rs 260 in the unlisted market.
Telco revenues surged to Rs 2.3 lakh crore in FY24: CLSA
The Indian telecom industry's gross revenue surged 87% to Rs 2.39 lakh crore in FY24, driven by the launch of services by Reliance Jio. Jio and Bharti Airtel gained subscribers at the expense of Vodafone Idea. The two top telcos now control 78% of sectoral revenue, expected to rise to 83% by FY26. Vi's revenue market share fell to 15.7%, while Airtel and Jio saw revenue growth, with Jio leading at 41.4% RMS.
Jio outpaces Airtel in 4G/5G user additions during April
Active, or visitor location register (VLR) data put out every month by Trai indicates the number of mobile users regularly using a mobile network. As a result, Jio’s active user base jumped to 433.42 million users, while Airtel and Vodafone Idea’s active user base declined to 383.32 million and 192.64 million users respectively.
Ixigo IPO fully subscribed; more layoffs at Paytm
The initial public offering of subscription travel firm Ixigo sailed through on the first day on robust retail interest. Details on this and more in today's ETtech Top 5.
Dish TV's Q4 net loss widens 16% to Rs 1989 crore
The direct-to-home (DTH) company's operating revenue declined by 19% to Rs 407 crore, while subscription revenue was down 18% to Rs 320 crore.
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What happened to our ad-free TV?
As streaming services initially promised an ad-free experience, the landscape is rapidly changing with ads becoming increasingly difficult to avoid. Major players like Netflix, Disney+, and Amazon Prime Video have started incorporating commercials in exchange for lower subscription prices. Even live sports on these platforms now include built-in commercial breaks regardless of the subscription tier.
Nomura upgrades Vodafone Idea, doubles target price. Should you buy?
Vodafone Idea Target Price: Nomura has upgraded its rating on Vodafone Idea, expressing optimism that the worst is behind the company and it is now poised for better prospects. The stock has been upgraded from "reduce" to "neutral". Vodafone Idea's Q4 revenue stood at Rs 10,600 crore, which was in line with estimates.
Vi mulls rolling out 5G on large scale in 6 months, plans up to Rs 55,000 cr investment in 3 yrs
Vi CEO Akshaya Moondra said the company's investment will focus on expanding and strengthening coverage in 17 priority circles to be competitive.
Vodafone Idea shares surge 4% despite losses widening in Q4
The company’s cons loss widened to Rs 7,675 crore versus Rs 6,419 crore reported in the year-ago period. Its revenue stood at Rs 10,607 crore. An income tax refund helped Vi generate operating cash flow of Rs 12,100 crore.
Revenue/Ebitda misses led to Vi’s higher net loss in Q4FY24: Analysts
Vodafone Idea's widening net loss to Rs 7,675 crore in the fiscal fourth quarter was attributed to lower revenue and operating income. Despite minimal customer losses, Vi struggled to compete with Reliance Jio and Bharti Airtel. Analysts noted a decline in revenue and Ebitda, with a modest increase in ARPU. The recent equity raise aims to alleviate financial strain.
Vodafone Idea Q4 Results: Net loss widens vs Q3; ARPU rise to Rs 146
Vodafone Idea’s net loss for the fiscal fourth quarter, FY24, widened sequentially to Rs 7,675 crore, dragged by high debt and even as it continued to lose subscribers.
Combating dark patterns; declining VC funds for female founders
Happy Thursday! The government will soon release a tool to help consumers fight manipulative ‘dark patterns’ used by websites. This and more in today’s ETtech Morning Dispatch.
Vodafone Idea Q4 Preview: Losses to widen 14-19% YoY; 1.5% revenue uptick likely on higher ARPU
Three brokerage firms have forecasted a potential widening of Vodafone Idea's net loss for the March quarter, estimated to range between Rs 7,307.20 crore to Rs 7,680 crore. Additionally, revenue for the quarter is anticipated to hover around Rs 10,690 crore.
Q4 results today: Bharti Airtel, Patanjali Foods among 97 companies to announce earnings on Tuesday
Bharti Airtel and 96 other companies are set to announce Q4 results. Airtel's expected net profit ranges from Rs 2,201-5,309 crore with revenue projections of Rs 38,736-39,360 crore.
Bharti Airtel Q4 Preview: Revenue likely to jump 8% YoY on higher ARPU, subscriber base
In the fourth quarter of the fiscal year 2023, Bharti Airtel recorded a consolidated profit after tax (PAT) of Rs 3,005 crore, which pertains to the company's owners. When factoring in the non-controlling interest, the PAT for the period increases to Rs 4,226 crore. Additionally, the revenue from operations for the quarter amounted to Rs 36,009 crore.
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.
RIL Q4 earnings: Top highlights from management commentary
Reliance Industries has announced the financial results for the quarter and year ending March 31, 2024. The conglomerate achieved a record annual consolidated revenue of ₹1,000,122 crore ($119.9 billion), marking a 2.6% increase year-on-year. Additionally, the annual consolidated EBITDA reached ₹178,677 crore ($21.4 billion), reflecting a substantial 16.1% year-on-year growth. The strong performance was driven by key segments like Jio Platforms, which saw revenue increase by 11.7%, and Reliance Retail Ventures, which reported a sharp 28.5% increase in EBITDA.
Telecom Tariff hike imminent; expect 15- 17 pc rise post election: Analyst report
Anticipated post-election tariff hike in telecom industry could benefit Airtel significantly. Bharti's ARPU expected to rise by FY27. Airtel poised for financial growth with 2G upgrades, enterprise expansion, and reduced capex post 5G rollout amid persistent competition.
Streaming subscriber growth in US halved last year
Growth in the premium subscription-video-on-demand category slowed to 10.1% last year from 21.6% in 2022. But its overall growth has more than doubled in four years, signaling a steady re-subscription trend.
Borosil, SW Solar, 6 more BSE 500 stocks with double-digit weekly returns. Over 300 stocks end in red
The BSE 500 index ended 330 points lower on the week-on week basis at 30,669.27 and the market rout was led primarily by banks, IT, FMCG and realty stocks while pharma, auto and infrastructure counters restored some pride.
Formal job additions decline further in November: MoSPI
India's formal job market faced a decline in November, attributed to festive celebrations. Preliminary data reveals a 5% drop in new subscribers to the Employees' Provident Fund (EPF) and a 10.5% decline in the Employees' State Insurance Corporation (ESIC), marking the lowest figures in nearly two years. In contrast, the National Pension Scheme (NPS) experienced a 52% rise in new subscriptions, largely driven by state governments. Overall, formal job additions have dwindled for the fourth consecutive month, highlighting economic challenges.
New job additions to the formal sector decline in October
The number of new subscribers to the Employees’ Provident Fund (EPF) Scheme declined for the third consecutive month to 772,084 in October compared with 926,934 in the previous month, recording its lowest level since the start of the year, according to preliminary data released by the ministry of statistics and programme implementation.
Formal job creation under the Employees' Provident Fund Organisation up 18% in Oct
In October, formal job creation under the Employees' Provident Fund Organisation (EPFO) increased by 18.2% year-on-year, adding 1.53 million net new subscribers. However, compared to September's 1.72 million jobs, sequential formal job creation declined by 11%. The EPFO added 770,000 new members in October, a 6.07% rise from the same month last year, with 58.6% of the new joiners in the age group of 18-25 years.
Net new women EPFO subscribers addition rises to 28.69 lakh in FY23
The EPFO saw a significant rise in new women subscribers, recording 28.7 lakh additions in FY23 compared to 15.9 lakh in 2019-20, indicating increased formal job creation despite the pandemic. Minister Rameshwar Teli highlighted this as an indicator of job market formalization. Female unemployment dropped to 2.9%, improving from 4.2% in 2019-20, as per PLFS data. Initiatives like extended maternity leave and safety measures aim to provide equal opportunities and a safer work environment for women.
Ad sales of Elon Musk's X projected to slump to about $2.5 billion in 2023
X generated a little more than $600 million in advertising revenue in each of the first three quarters of the year, and is anticipating a similar performance in the current period, according to a person familiar with the numbers. That compares to more than $1 billion per quarter in 2022.
DTH operators added 2.5 lakh subscribers to their active base in Q1 FY24, says TRAI
According to the performance indicator report of the Telecom Regulatory Authority of India (TRAI), the total active subscriber base of the four pay DTH operators – Tata Play, Dish TV, Airtel Digital TV and Sun Direct – increased 0.38% quarter-on-quarter to 65.50 million.
Vodafone Idea to close equity funding talks in current quarter: CEO Akshaya Moondra
Vodafone Idea is set to finalize its equity funding talks in the ongoing quarter, followed by additional lending from banks, according to CEO Akshaya Moondra. Moondra revealed that discussions with equity investors have progressed since the last quarter. He also mentioned that one promoter who committed to providing financial support of up to Rs 2,000 crore has yet to inject the funds. However, Moondra clarified that the equity-linked funding being discussed is not dependent on promoter infusion.
Vodafone Idea Q2 Preview: Firm to see moderate revenue growth; ARPU may rise 2-3% QoQ
Vodafone Idea’s net loss for the quarter ended September is seen reducing marginally to around Rs 7,770 crore, compared with Rs 7,840 crore loss in the June quarter. Investors would watch out for the management commentary on the update on fund-raising and the arrest subscriber decline
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