Stocks to watch, Nov 14: Here are few stocks that will be in limelight for today's session
Swiggy will have to convert growth into profitability
The gains came despite overall market weakness amid sustained selling by foreign portfolio investors
Swiggy is the first company to list through the Securities and Exchange Board of India's confidential listing route, highlighting the competitive nature of the sector
Key catalysts, according to them include improvement in Instamart profitability, acceleration in platform Monthly Transacting User (MTU) additions, and reversal of market share losses
On the Bombay Stock Exchange (BSE), the stock opened at Rs 412, registering a 5.64% gain from the issue price. This listing is set to bring significant value through Esops
In a kind gesture, Zomato CEO Deepinder Goyal on Wednesday congratulated rival Swiggy on its stock market debut, whose shares got listed at a premium of nearly 8 per cent on the NSE. "Congratulations @swiggy! Couldn't have asked for a better company to serve India with..," Goyal said in a post on X, tagging another post by Zomato which said, "You and I... In this beautiful world @Swiggy". Swiggy got listed at Rs 420, a jump of nearly 8 per cent from the issue price on the NSE. The Rs 11,327-crore initial public offer of Swiggy got fully subscribed on the final day of the share sale on Friday, ending with 3.59 times subscription. Marking its stock market debut, Swiggy rolled out an ad film encapsulating the brand's ethos and the decade-long journey that led to the milestone. In a tribute to the backbone of Swiggy's operations, two of the company's delivery partners, Jigar Khan and Namrata Vora, were invited to join Swiggy's Co-Founders and Management Team on stage at the National St
Zomato shared a social media post featuring a banner announcing Swiggy's listing, the post shows a friendly nod between the two food delivery applications
Food delivery and quick-commerce major Swiggy on Wednesday said it is expecting "very solid" growth in the next 3-5 years and plans to expand its geographical footprint and stores network for Instamart business. The company which made a strong debut on the stock exchanges on Wednesday said it has doubled the categories for quick commerce in the last 12 months. "We are expecting very solid growth for the next 3-5 years. We are expanding our geographical footprint, stores network for Instamart business," Swiggy CEO Sriharsha Majety said post the listing ceremony. Swiggy listed at Rs 412, reflecting a jump of 5.64 per cent from the issue price on the BSE. Later, it surged 15.12 per cent to Rs 449 apiece. The Rs 11,327-crore initial public offer of Swiggy got fully subscribed on the final day of the share sale on Friday, ending with 3.59 times subscription. The initial share sale had a price range of Rs 371-390 a share. The company's IPO (Initial Public Offering) had a fresh issue of
Swiggy's CEO, at the stock market debut, shared the journey from an IIM Calcutta college project to India's leading delivery platform
At 11:15 am on Wednesday; Swiggy's market cap stood at Rs 100,148 crore (Rs 1.0 trillion), the NSE data shows.
On the National Stock Exchange (NSE), Swiggy shares opened at Rs 420, higher by Rs 30, or 7.6 percent, from its IPO allotment price
According to CLSA, these firms are set to top $78 billion in combined gross orders within a decade, potentially affecting existing consumer-product majors like Hindustan Unilever Ltd. and Marico Ltd
Both Sensex and Nifty closed over 1 per cent lower on Tuesday, November 12, with the Sensex ending at 78,675.18 and the Nifty closing at 23,883.45 levels
If the grey market premium is any indication, Swiggy's shares could list close to its issue price of Rs 390 per share, valuing the company at Rs 87,300 crore
Following the completion of its initial public offering (IPO), Swiggy shares are slated to make their debut on the bourses on Friday, November 8, 2024
Once the allotment is finalised, investors can check the status of their Swiggy IPO shares on the official websites of BSE, NSE, or Link Intime India, the registrar for the issue
Swiggy is set to debut on the Indian stock exchanges on Wednesday, marking a milestone in the next phase of the company. The company launched its high-profile initial public offering last week