In an exclusive interview with ET’s Pranav Mukul and Samidha Sharma, Sahil Barua, CEO of Delhivery, sheds light on the evolving dynamics of the logistics industry and the challenges facing quick commerce. Barua discusses how the rapid growth of quick commerce is reshaping market shares, particularly impacting traditional kiranas rather than traditional e-commerce platforms.
Barua highlights that…
Equity Residential has announced a significant acquisition, agreeing to purchase 11 apartment properties from Blackstone’s real estate unit for approximately $964 million. This transaction, marking the largest apartment purchase by a public REIT in seven years, includes complexes located in Atlanta, Dallas/Fort Worth, and Denver. The 3,572 units are poised to enhance Equity Residential’s…
Shares of Zillow Group surged on Thursday following the company’s announcement of a new CEO and its better-than-expected second-quarter financial results. The real estate services firm revealed a narrower loss of $0.07 per share, significantly less than the previous year and well below analysts’ forecasts. Revenue for the quarter increased by 13% to $572 million, surpassing…
Biocon, a leading biotechnology firm, announced a dramatic increase in its consolidated profit after tax for the first quarter ending June 2024. The company’s profit surged more than six times to ₹660 crore, driven by a significant one-time gain resulting from its collaboration with Eris Lifesciences through Biocon Biologics.
The substantial profit growth highlights the impact of strategic…
The Indian stock market saw a remarkable surge on Friday, with the BSE Sensex soaring more than 1,000 points and the Nifty50 climbing above 24,350 in early trade. At 9:16 AM, the BSE Sensex was trading at 79,687.89, marking a gain of 802 points or 1.02%. Meanwhile, the Nifty50 stood at 24,350.55, up by 234 points or 0.97%.
This rally comes after a brief pause on Wednesday, as market sentiment was…
Ola Electric: Bhavish Aggarwal in India’s billionaire list, worth $1.44 billion as stock rallies 17%
Ola Electric Mobility Ltd’s stock experienced a significant surge of 17% following its muted market debut, propelling the company’s founder Bhavish Aggarwal into the ranks of India’s billionaires. Aggarwal, who holds a substantial 36.94% stake in the company, saw his net worth soar to approximately ₹12,104 crore (about $1.44 billion) as a result of the rally.
The Ola Electric IPO, which…
Gokaldas Exports Limited, a leading apparel manufacturer and exporter, has reported a 16.5% decline in its profit after tax (PAT) for Q1 FY25, totaling ₹27.2 crore, down from ₹32.6 crore in the same quarter of the previous year. The decrease in PAT was attributed to production disruptions in April and May, which led to shipment delays and increased costs for overtime and…
Adani Energy Solutions has successfully raised $1 billion through a Qualified Institutional Placement (QIP), which was strongly supported by over 100 global institutional investors. The capital injection is set to bolster the company’s credit profile, reduce leverage, and support ongoing and future projects.
Fitch Ratings has responded positively to the equity raise, stating that the funds will…
The Reserve Bank of India (RBI) has forecasted a robust 7.2% growth in the country’s real GDP for the fiscal year 2024-25, supported by a rise in both urban and rural demand. RBI Governor Shaktikanta Das announced this projection on Thursday, attributing the optimistic outlook to continued investment demand and rising consumption across sectors.
The RBI’s forecast breaks down the expected GDP…
Shares of Aadhar Housing Finance Limited, a company specializing in low-income housing finance, soared by 4.6% to ₹432 in Tuesday’s trading session. This surge follows the company’s announcement of a robust 37% year-on-year increase in net profits for Q1 FY24-25, reaching ₹200 crores.
At 10:49 AM, Aadhar Housing Finance shares were trading at ₹417.75, up 1.2% from the previous close of…
