GMR Airports will triple its EBITDA in 5 years: Jefferies; This Chennai skincare start-up, raises seed round of $1.2 million at $19 million valuation
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GMR Airports will triple its EBITDA in five years, says Jefferies; Sees ?100 target
Brokerage firm Jefferies has initiated coverage on GMR Airports Ltd. with a "buy" recommendation and a price target of ?100. The price target implies a potential upside of 15% from current levels.
Jefferies believes that GMR Airports is evolving from a utility to a retail consumption play and will benefit from the strong growth outlook in air traffic, travel retail opportunity, a hike in aero tariffs and unlocking the real estate opportunity.
A further re-rating, according to Jefferies, will be supported by more simplification of the group's corporate structure, better leverage ratios, and Groupe ADP's backing.
Chabahar Port Agreement | Why this India-Iran strategic deal is caught between US sanctions and essentials?
On May 13, India and Iran formally signed a 10-year agreement for management and development of the strategically located Chabahar Port in southeastern Iran. Until now there has been an annual contract awarded to India Port Global Ltd (IPGL). Indian Minister of Shipping Sarbanand Sonowal travelled to Iran to witness the signing ceremony of this important connectivity initiative which provides access to Afghanistan and Central Asia as well as larger Eurasia and the Caucasus.
However, this progress was quickly eclipsed by a sanctions warning from the US. ?Chabahar Port’s inclusion in the International North South Transport Corridor (INSTC) has further enhanced its outreach and efficacy. Chabahar also obviates the dangers of escalation in the Red Sea and Strait of Hormuz choke points.
Xi’s China EV dream came true. 10 years on, walls are going up
Ten years ago almost to the day, while checking out a handful of luxury sedans from one of China’s largest automakers SAIC Motor Corp., President Xi Jinping gave a pivotal speech that would set China on the course to dominate the electric vehicle industry.
The path to becoming a strong automaking nation lies in developing new-energy vehicles, Xi said, according to a 2014 Xinhua?report. Claiming a head start, or “high ground,” in this sector is key to the competition globally, Xi said.
BharatPe and PhonePe amicably settle all trademark disputes over 'Pe' suffix
Digital payments companies BharatPe and PhonePe on Sunday announced that they have amicably settled their long-standing legal disputes pertaining to the use of the trademark with the suffix 'Pe'.
The settlement will put an end to all open judicial proceedings, ongoing for the last five years. Both companies had been involved in long-drawn legal disputes across multiple courts. As the next step, BharatPe and PhonePe have already taken steps to withdraw all oppositions against each other in the trademark registry, which will help them to proceed with the registration of their respective marks.
#PersonalFinance??
From interest rate to maturity, all about Post Office's Monthly Income Scheme
With attractive interest rates, the Post Office Monthly Income Scheme (POMIS) is one of the highest-earning, safe and steady investment tools.This scheme can be a key to financial stability for people looking for a steady income that pays every month.
Let's take a look at how the MIS can be a great scheme to invest in. The MIS of Post Office is a government-supported small savings initiative that provides participants with a stable interest rate and monthly earnings. Since such schemes are backed by the government, they are often considered safe for people. However, it is still important to consult a financial advisor to have a suitable investment suggestion based on your savings goals.
360 ONE Prime's tranche II NCD issue open with aim to raise ?500 crore: Should you invest
Tranche II of 360 ONE Prime's public issue of non-convertible debentures (NCDs) has opened on Friday (may 24). The company aims to raise up to ?500 crore through this offering.
The NCDs, with a face value of ? 1,000 each, come with a base issue size of ?100 crore, along with a green shoe option to retain an oversubscription of up to ? 400 crore. This total issuance falls within the shelf limit of ? 1,500 crore, and the?issue is open till June 6, 2024.
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Only 85 startups have recruited from IIT Madras in 2024, institute says offers are down 40% too
Amid a reported placement crisis at Indian Institutes of Technology (IITs) across the country, IIT Madras has reported a drop in the number of startups turning up for recruitment at the campus.
In an exclusive chat with CNBC-TV18, the institute's placement advisor has confirmed that the number of startups recruiting this year fell by 50% when compared to last year. The number of offers these companies made saw an equally worrisome albeit smaller decrease of 40%.
Chennai skincare start-up, Chosen, raises seed round of $1.2 million at $19 million valuation
Her company might be the new kid on Chennai's start-up block, but Dr Renita Rajan already has a fair bit on her to-do list. The Chennai-based cosmetic dermatologist's four-year-old skincare start-up, Chosen, has raised seed funding of 1.2 million dollars from friends and family — money that will be used to grow headcount and supply chain.
Even as Chosen's valuation is just north of ?150 crore or $19 million, the doctor already has her eyes on the bigger picture. "Recruitment and supply chain is where this funding will be utilised. The idea of going with the seed was to give us some level of flexibility to see what areas we want to move to and where," says Renita who founded the start-up in 2020.
#ExpertEdge??
Lok Sabha Elections 2024| Phase-6 showdown — BJP's strategic gains vs INDIA bloc's revival efforts
As many as 58 seats across eight states and Union Territories (UTs) voted in the sixth and penultimate phase of the 2024 Lok Sabha elections on May 25. This crucial round of polling included all 10 seats in Haryana and seven seats in Delhi, setting the stage for the final electoral showdown. With the completion of Phase-6, elections to 486 of the 543 Lok Sabha seats are now over. The remaining 57 seats will cast their votes in the last phase on June 1, with the results of the seven-phase general elections to be declared on June 4.
Comparing the data with the 2019 Lok Sabha elections reveals a strategic advantage for the BJP. In this phase, the BJP had previously secured around 40 seats, while the Congress failed to win any. The INDIA bloc parties managed to secure around five seats. This historical context underscores the BJP's stronghold in these regions and sets a high bar for its competitors.
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