Elon Musk has tied a massive chunk of his future compensation at SpaceX to some of the company’s most ambitious goals, including building human colonies on Mars and developing data centres in space. Musk was awarded 1 billion performance-based shares earlier this year, Bloomberg reported, citing a US Securities and Exchange Commission filing. …
Adani Ports & Special Economic Zone Ltd. (APSEZ) has announced the signing of a definitive agreement, through which it will acquire Jaypee Fertilizers & Industries Ltd., thereby expanding its logistics footprint. As per the transaction, Adani Ports will acquire 100% stake in Jaypee Fertilizers, which is held by Jaiprakash Associates, as per the resolution plan…
Oil can still rise to $120 a barrel, warns Drew Pettit, Director-US Equity Strategy/ETF Analysis & Strategy Research at Citi, who believes markets are underestimating the risk of a prolonged West Asia crisis. He says oil, not Fed policy, remains the key driver for global equities, inflation and risk assets. Pettit remains bullish on the…
The Indian rupee opened sharply higher against the US dollar on Thursday (May 21), strengthening by 52 paise to 96.30 per dollar compared with Wednesday’s (May 20’s) close of 96.82/$, as easing crude oil prices and softer US Treasury yields improved sentiment towards emerging market currencies. The domestic currency gained around 0.54% in early trade…
Dipan Mehta, Director of Elixir Equities says Metro Brands and Jubilant FoodWorks look fairly valued at 65-70x trailing earnings — better to wait for a dip. Apollo Hospitals impressed with record revenues and strong operating leverage. On large global IPOs like SpaceX, he warns that private equity has already captured the big gains, leaving public…
Shares of Epack Durable Ltd. fell as much as 10% on Thursday, May 10, in response to their fourth quarter results that were reported after market hours on Wednesday. The stock is retesting its IPO price of ₹230. Revenue for the quarter declined by 8% from last year to ₹591 crore, while the profits shrunk…
Shares of Jubilant Foodworks Ltd. fell as much as 8% on Thursday, May 21, after brokerage firm HSBC downgraded the stock, while Jefferies sharply cut its price target, in response to its fourth quarter results that were reported after market hours on Wednesday. 30 analysts now have coverage on Jubilant Foodworks, of which 20 have…
Shares of Lenskart Solutions Ltd. gained as much as 6% on Thursday, May 21, after the company reported its fourth quarter results. Six out of the 16 analysts who have coverage on the stock, have price targets in excess of ₹600 on the stock. Equirus Securities has the highest target for Lenskart at ₹662, followed…
Shares of Protean eGov Technologies Ltd., the e-governance solutions, systems integration, and IT consulting services provider, are locked in an upper circuit of 20% on Thursday, May 21, in response to their March quarter results. Yet, the stock remains an underperformer. For the March quarter, Protean eGov reported a 38.5% growth in its overall topline…
Shares of Aurionpro Solutions Ltd. rose as much as 4.5% on Thursday, May 21, after the company secured one of its largest US market wins — a $33 million fintech engagement through its US-based subsidiary Aurionpro Fintech Inc. The company said it has signed a strategic three-year agreement with a leading US-based digital insurance payments…
