Tue, Jul 2, 2024 9:38 AM
Chandan Taparia’s recommendations: How to trade Siemens, Birlasoft
A Flip by Riya Sharma
Lebanese venture capital firm Globivest is nearing the final close of its second fund. The Beirut-based firm, which focuses on pre-seed, seed, and Series A rounds, has invested in over 50 companies through its first fund. Having raised two-thirds of the targeted amount, Globivest is on track to reach its funding goal, although the exact amount was not disclosed.
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Nomura maintains a "neutral" rating on Yes Bank with a target price of ₹17, indicating a 29% downside from the current price of ₹23.93. The bank's June quarter update showed muted loan growth and a sequential decline in deposits, with a CASA ratio decline of 1% quarter on quarter. Nomura expects a return on assets of 0.5% in FY25 and 0.8% in FY26, and a return on equity of 4.5% in FY25.
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Zomato shares have surged 21% since June 4, outperforming the S&P BSE Sensex, and have broken out of a three-month consolidation range. Analysts see up to 20% upside from current levels, with a target range of Rs 240-250. The stock is trading above its 50-day and 200-day SMAs, with a beta of 0.6%. Zomato has delivered outstanding results over the past 10 quarters.
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