6 Min Read
#SwiggyListing
Swiggy shares list at an 8% premium to IPO price at ₹420
Shares of Swiggy Ltd. listed at a premium of nearly 8% on Wednesday, November 13. The stock debuted at ₹420 on NSE, up 7.69%, while on BSE, it debuted a premium of 5.6%, at ₹412, over its initial public offer (IPO) price of ₹390. The issue had a price band of ₹371-390 per share.
The grey market premium (GMP) for Swiggy's IPO has turned flat on the day of listing. Earlier on Tuesday, the unlisted shares of the Softbank-backed company were commanding with a grey market premium of ₹2.
Analysts had expected a subdued listing, saying the sentiment is likely influenced by the company's continued losses, despite steady revenue growth.
Read Here
Swiggy gets an 'underperform' rating on listing day; check price target
Before Swiggy Ltd. was listed on the stock exchanges today, November 13, global brokerage firm Macquarie initiated coverage on the stock with an 'underperform' rating, and a price target of ₹325 per share.
This target suggests a potential downside of around 17% from Swiggy's issue price.
The foreign brokerage believes that Swiggy has a significant growth runway ahead, though its journey to profitability may be challenging and uneven.
Read Here
Swiggy Bull vs Bear Case: One analyst sees a 16% downside, another a 20% gain
Shares of Swiggy Ltd., the food delivery aggregator and Zomato Ltd.'s competitor, made their stock market debut on Wednesday, November 13.
JM Financial features on the bull side, initiating coverage on Swiggy with a price target of ₹470, which implies a potential upside of 20% from its IPO price.
However, JM Financial's bullish view is countered by Macquarie, who initiated coverage on the stock with an "underperform" rating and a price target of ₹325, which implies a potential downside of 16% from the issue price.
Read Here
#ElectionExchange
Jharkhand Election Phase 1 Voting Updates: 13% polling recorded till 9 am, top leaders among early voters
The voting is underway for the 43 Assembly seats out of 81 in Jharkhand in the first phase of elections on Wednesday (November 13). A total of 1.37 crore voters out of the total 2,60 crore are eligible to participate in the voting on November 13.
Altogether 683 candidates - 609 men, 73 women and a third gender person - are in the fray in 43 seats.
Here are the latest updates
Wayanad Lok Sabha bypoll: 14 lakh voters to decide fate of Priyanka Gandhi and 15 other candidates
The voting for the bypoll in the Wayanad Lok Sabha seat is underway on Wednesday (November 13). A total of 16 candidates, including Congress's Priyanka Gandhi Vadra, CPI's Sathyan Mokeri and BJP's Navya Haridas, are vying for the support of the over 14 lakh voters in the constituency.
Congress leader Rahul Gandhi won the seat with a victory margin of over 3.5 lakh votes. He vacated the constituency following his success in the Rae Bareli Lok Sabha seat also, necessitating a bypoll in Wayanad.
While the Congress plans to retain the seat — considered to be a UDF bastion — by fielding Rahul's sister Priyanka, the CPI and the BJP are hoping to wrest the hill constituency from the grand old party.
Key Updates
#CNBCTV18Market
ACME Solar disappoints at stock market debut; shares list at 13% discount
Shares of ACME Solar Holdings Ltd. made a muted debut at the bourses on Wednesday, November 13, as the Gurugram-based company commenced its trading at ₹251 on NSE, a discount of 13.15% over its issue price of ₹289.
Similarly, the stock was listed at ₹259 on BSE, at a discount of 10% over its issue price.The listing of ACME Solar has been muted compared to the expectations.
Ahead of its listing, the grey market premium (GMP) for the shares of the company stood at -₹4.
Read Here
PSU Stock Picks: Macquarie recommends buying these four power names with up to 35% upside
Global brokerage firm Macquarie has initiated coverage on power financing PSUs—PFC, REC, Power Grid, and NTPC—citing these companies as clear beneficiaries of the sector’s growth cycle, due to their unique positions within the ecosystem.
Check details here
Zomato share price may fall to ₹130, says Macquarie flagging potential downside risks
Brokerage firm Macquarie has maintained its "underperform" recommendation on food delivery aggregator Zomato Ltd. with a price target of ₹130.
The price target from Macquarie implies a potential downside of nearly 50% from Tuesday's closing levels. Macquarie wrote in its note that it is time to revisit the fundamental building blocks of growth and unit economics for Blinkit and Zomato Food Delivery.
Read Here
Gold prices drop slightly in India: Key market trends investors should know
In early trading on Wednesday, November 13, the price of gold in India saw a modest dip. The price of 24-carat gold fell by ₹10, with 10 grams priced at ₹77,280, while 22-carat gold also slipped by ₹10, trading at ₹70,840 per 10 grams, as reported by GoodReturns.
Globally, gold prices inched higher after a significant drop in the previous session, spurred by a round of bargain-hunting among investors.
Spot gold rose by 0.4% to $2,608.18 per ounce as of 0200 GMT, following a low point reached on Tuesday (November 12) not seen since September 20.
US gold futures also climbed, up by 0.3% to $2,614.10 per ounce.
Read Here
#Trump2.0
Elon Musk to lead Donald Trump's Department of Government Efficiency alongside Vivek Ramaswamy
Billionaire Elon Musk and entrepreneur Vivek Ramaswamy will lead a new Department of Government Efficiency in the Cabinet of US President-elect Donald Trump, according to a statement by Trump shared by Musk on November 12.
“I am pleased to announce that the Great Elon Musk, working in conjunction with American Patriot Vivek Ramaswamy, will lead the Department of Government Efficiency ("DOGE"),” the statement read.
Musk and Ramaswamy’s task will be to dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies that are essential to the "Save America" Movement, Trump said.
Read Here
Online posts to dumb spending leaderboard: How Musk and Ramaswamy plan to run Trump’s not so ‘gentle’ DOGE
A brand-new Department of Government Efficiency—or DOGE, led by billionaire Elon Musk and entrepreneur Vivek Ramaswamy, will advise and guide the Donald Trump-led upcoming US government.The duo has been tasked with cutting government waste, slashing unnecessary regulations, and making federal agencies more efficient — all of this will be done with DOGE existing outside of the government.
Read Here
We'll see you tomorrow with another edition of 11:11
Swiggy shares list at an 8% premium to IPO price at ₹420
Shares of Swiggy Ltd. listed at a premium of nearly 8% on Wednesday, November 13. The stock debuted at ₹420 on NSE, up 7.69%, while on BSE, it debuted a premium of 5.6%, at ₹412, over its initial public offer (IPO) price of ₹390. The issue had a price band of ₹371-390 per share.
The grey market premium (GMP) for Swiggy's IPO has turned flat on the day of listing. Earlier on Tuesday, the unlisted shares of the Softbank-backed company were commanding with a grey market premium of ₹2.
Analysts had expected a subdued listing, saying the sentiment is likely influenced by the company's continued losses, despite steady revenue growth.
Read Here
Swiggy gets an 'underperform' rating on listing day; check price target
Before Swiggy Ltd. was listed on the stock exchanges today, November 13, global brokerage firm Macquarie initiated coverage on the stock with an 'underperform' rating, and a price target of ₹325 per share.
This target suggests a potential downside of around 17% from Swiggy's issue price.
The foreign brokerage believes that Swiggy has a significant growth runway ahead, though its journey to profitability may be challenging and uneven.
Read Here
Swiggy Bull vs Bear Case: One analyst sees a 16% downside, another a 20% gain
Shares of Swiggy Ltd., the food delivery aggregator and Zomato Ltd.'s competitor, made their stock market debut on Wednesday, November 13.
JM Financial features on the bull side, initiating coverage on Swiggy with a price target of ₹470, which implies a potential upside of 20% from its IPO price.
However, JM Financial's bullish view is countered by Macquarie, who initiated coverage on the stock with an "underperform" rating and a price target of ₹325, which implies a potential downside of 16% from the issue price.
Read Here
#ElectionExchange
Jharkhand Election Phase 1 Voting Updates: 13% polling recorded till 9 am, top leaders among early voters
The voting is underway for the 43 Assembly seats out of 81 in Jharkhand in the first phase of elections on Wednesday (November 13). A total of 1.37 crore voters out of the total 2,60 crore are eligible to participate in the voting on November 13.
Altogether 683 candidates - 609 men, 73 women and a third gender person - are in the fray in 43 seats.
Here are the latest updates
Wayanad Lok Sabha bypoll: 14 lakh voters to decide fate of Priyanka Gandhi and 15 other candidates
The voting for the bypoll in the Wayanad Lok Sabha seat is underway on Wednesday (November 13). A total of 16 candidates, including Congress's Priyanka Gandhi Vadra, CPI's Sathyan Mokeri and BJP's Navya Haridas, are vying for the support of the over 14 lakh voters in the constituency.
Congress leader Rahul Gandhi won the seat with a victory margin of over 3.5 lakh votes. He vacated the constituency following his success in the Rae Bareli Lok Sabha seat also, necessitating a bypoll in Wayanad.
While the Congress plans to retain the seat — considered to be a UDF bastion — by fielding Rahul's sister Priyanka, the CPI and the BJP are hoping to wrest the hill constituency from the grand old party.
Key Updates
#CNBCTV18Market
ACME Solar disappoints at stock market debut; shares list at 13% discount
Shares of ACME Solar Holdings Ltd. made a muted debut at the bourses on Wednesday, November 13, as the Gurugram-based company commenced its trading at ₹251 on NSE, a discount of 13.15% over its issue price of ₹289.
Similarly, the stock was listed at ₹259 on BSE, at a discount of 10% over its issue price.The listing of ACME Solar has been muted compared to the expectations.
Ahead of its listing, the grey market premium (GMP) for the shares of the company stood at -₹4.
Read Here
PSU Stock Picks: Macquarie recommends buying these four power names with up to 35% upside
Global brokerage firm Macquarie has initiated coverage on power financing PSUs—PFC, REC, Power Grid, and NTPC—citing these companies as clear beneficiaries of the sector’s growth cycle, due to their unique positions within the ecosystem.
Check details here
Zomato share price may fall to ₹130, says Macquarie flagging potential downside risks
Brokerage firm Macquarie has maintained its "underperform" recommendation on food delivery aggregator Zomato Ltd. with a price target of ₹130.
The price target from Macquarie implies a potential downside of nearly 50% from Tuesday's closing levels. Macquarie wrote in its note that it is time to revisit the fundamental building blocks of growth and unit economics for Blinkit and Zomato Food Delivery.
Read Here
Gold prices drop slightly in India: Key market trends investors should know
In early trading on Wednesday, November 13, the price of gold in India saw a modest dip. The price of 24-carat gold fell by ₹10, with 10 grams priced at ₹77,280, while 22-carat gold also slipped by ₹10, trading at ₹70,840 per 10 grams, as reported by GoodReturns.
Globally, gold prices inched higher after a significant drop in the previous session, spurred by a round of bargain-hunting among investors.
Spot gold rose by 0.4% to $2,608.18 per ounce as of 0200 GMT, following a low point reached on Tuesday (November 12) not seen since September 20.
US gold futures also climbed, up by 0.3% to $2,614.10 per ounce.
Read Here
#Trump2.0
Elon Musk to lead Donald Trump's Department of Government Efficiency alongside Vivek Ramaswamy
Billionaire Elon Musk and entrepreneur Vivek Ramaswamy will lead a new Department of Government Efficiency in the Cabinet of US President-elect Donald Trump, according to a statement by Trump shared by Musk on November 12.
“I am pleased to announce that the Great Elon Musk, working in conjunction with American Patriot Vivek Ramaswamy, will lead the Department of Government Efficiency ("DOGE"),” the statement read.
Musk and Ramaswamy’s task will be to dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies that are essential to the "Save America" Movement, Trump said.
Read Here
Online posts to dumb spending leaderboard: How Musk and Ramaswamy plan to run Trump’s not so ‘gentle’ DOGE
A brand-new Department of Government Efficiency—or DOGE, led by billionaire Elon Musk and entrepreneur Vivek Ramaswamy, will advise and guide the Donald Trump-led upcoming US government.The duo has been tasked with cutting government waste, slashing unnecessary regulations, and making federal agencies more efficient — all of this will be done with DOGE existing outside of the government.
Read Here
We'll see you tomorrow with another edition of 11:11
(Edited by : Akashdeep Baruah)
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