Wed, Nov 6, 2024 10:57 AM
Subscribe for Swiggy Ltd IPO; Geojit Financial Services
A Flip by Shubhangi Gupta
Shares of Triveni Engineering and Industries dropped as much as 5 percent on November 6, weighed down by the company's dismal earnings performance for the July-September quarter. The company reported a consolidated net loss of Rs 22.4 crore for the September quarter, a sharp downturn from a net profit of Rs 29.1 crore in the same period last year, due to subdued profitability.
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Swiggy has launched its much-anticipated IPO, valued at ₹11,327.43 crores. The IPO opened for subscription on November 6 and is set to close on November 8. It is a combination of a fresh issue of 11.54 crore shares, aggregating to ₹4,499 crore, and an offer for sale of 17.51 crore shares, aggregating to ₹6,828.43 crore. The GMP for the Swiggy IPO currently stands at ₹12.
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Shares of state-run Indian Railways Finance Corporation (IRFC) Ltd. have cooled off by 33% from their highs of ₹229 that they had hit on July 15, 2024. The stock has remained out of the spotlight after the stellar moves it saw through 2023 and the start of 2024. IRFC saw a gradual correction from its highs of ₹230 but found support around the ₹135 level, from which it saw a pullback.
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