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Ather Energy IPO crosses the line in final hours of Day 3; retail portion booked 1.55 times

Business News - April 30, 2025 - 1:00pm
Ather Energy’s Rs 3,000-crore initial public offering (IPO) gained momentum in the final hours of bidding on Wednesday, April 30, as a late surge in institutional demand pushed the issue into full subscription. As of 05:14 PM, the IPO was subscribed 1.5 times overall, though weak grey market signals and valuation concerns continued to weigh on listing sentiment.Retail investors remained the most consistent participants, subscribing 1.89 times their allotted quota. Non-institutional investors (NIIs) subscribed to 69% of their portion, while qualified institutional buyers (QIBs) showed strong interest in the final stretch, subscribing 1.76 times their allocation.GMP Slips FurtherDespite the improved bidding, grey market sentiment remained muted. Ather’s unlisted shares were trading at Rs 322, just Rs 1 above the upper end of the Rs 304–321 price band—reflecting a negligible premium of 0.31%.The Grey Market Premium (GMP) has been on a steady decline since the IPO opened, slipping from Rs 7 pre-issue, to Rs 3 on Monday, and then to around Rs 1 by Tuesday. The fall is largely attributed to last week’s broader market weakness, though some analysts believe sentiment could recover if equity markets stabilise.Key Offer DetailsThe IPO comprises a fresh issue worth Rs 2,626 crore and an offer-for-sale (OFS) of Rs 355 crore. At the upper price band, Ather Energy is valued at around $1.4 billion—a 44% markdown from earlier fundraising targets, reflecting cautious investor sentiment in the current global environment.Anchor investors have already committed Rs 1,340 crore, with participants including SBI Mutual Fund, Franklin Templeton, and Abu Dhabi Investment Authority.The Bengaluru-based electric two-wheeler manufacturer plans to use the proceeds to set up a new manufacturing facility in Maharashtra, repay borrowings, and invest in R&D, marketing, and other corporate purposes.Analysts Divided on Valuation: Apply or Not?Despite tepid demand indicators, analysts remain cautiously optimistic.Geojit Financial Services stated, “At the upper price band of Rs 321, Ather’s EV/Sales ratio of 7.1x (FY24) appears expensive. However, as a pioneer in the E2W segment and in a strong growth phase, we recommend a ‘Subscribe’ rating for high-risk investors with a long-term view.”Arihant Capital took a slightly more bullish stance: “At the upper band of Rs 321, the issue is valued at an EV/Sales ratio of 8x, based on 9MFY25 sales of Rs 1,579 crore. We are recommending a ‘Subscribe for listing gain’ rating.”Backers and Business StrategyKnown for its in-house R&D and premium positioning, Ather Energy recently expanded its portfolio with the launch of the Ather Rizta. One of its early institutional backers, IIT Madras, holds 15.58 lakh shares and is expected to realize around Rs 50 crore from the listing.With the issue set to close today and QIB interest still subdued, all eyes are on a potential late surge in bidding—often driven by institutional investors—to help Ather Energy’s IPO cross the finish line.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Categories: Business News

Varun Beverages Q4 results: PAT rises 33% YoY, revenue surges 29%

Business News - April 30, 2025 - 12:46pm
Pepsico’s bottling partner Varun Beverages, on Wednesday, announced their results for the quarter ended March 2025, wherein the company reported a consolidated net profit of Rs 731.30 crore, which is up by 33.45% YoY. Meanwhile, the revenue from operations rose by 29% YoY.The company’s revenue from operations stood at Rs 5,680 crore, up from Rs 4,397.98 crore reported in the corresponding quarter of the previous financial year.The company has also announced an interim dividend of Rs 0.50 per share, fixing May 7 as the record date for determining the shareholder eligibility. The same will be paid on and from May 9.EBITDA increased by 27.8% in the said quarter to Rs 1,263.96 crore from Rs 988.76 crore in the year-ago period This is in-line with the net revenue growth. EBITDA margins in India improved by 111 bps on account of operational efficiencies from robust volume growth.Varun Beverages’ consolidated sales volume rose 30.1% to 312.4 million cases in Q4, up from 240.2 million cases in the same quarter last year, supported by strong organic volume growth of 15.5% in India and additional in-organic volume contributions from South Africa and the DRC.Also read: Bajaj Finserv shares slide 6% after Q4 results fail to impress investorsNet realization per case increased by 1.8% in India and remained flat in international markets (ex. South Africa). There is a decline of 0.9% in net realization per case at the consolidated level because of lower realization in own brands in the South African market.South Africa recorded 141 million cases over the trailing four quarters, marking a growth of approximately 13% compared to the same period last year.Around 12:15 pm, the shares of Varun Beverages were trading 1.75% lower at Rs 519.70 on the BSE.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Categories: Business News

24 grand keynote speakers at TiEcon 2025

Business News - April 30, 2025 - 12:12pm
Hundreds of luminaries from across industries, including frontrunners in the AI revolution, will gather at the San Jose Convention Center in California from April 30-May 2 for TiEcon 2025. This year’s edition of the world’s biggest entrepreneurship accelerator will feature nearly 40 sessions across 11 tracks. Each track or theme will focus on a different aspect of AI, machine learning (ML), quantum computing, and other cutting-edge technologies that will inevitably change the way we live and work.ICYMI, here are more details about the 11 tracks and TiE Silicon Valley, the non-profit organisation behind the flagship event.Among the dignitaries are 24 grand keynote speakers who will deliver opening addresses and participate in panels and fireside chats. Here’s a look:1) Satya NadellaWho: Chairman and CEO, MicrosoftSession: Opening address and fireside session with Navin Chaddha, Managing Partner, Mayfield Fund.When: May 1, 9-9:45 am2) Shantanu NarayenWho: Chair and CEO, AdobeSession: Opening address and grand keynote session with David Wadhwani President, Digital Media Business, AdobeWhen: May 2, 9-9:30 am3) Thomas C. WernerWho: Chairman, Fenway Sports Group (FSG)Session: Opening keynote, ‘Owning and Winning - Sports Media & Entertainment Binds Culture’.When: April 30, 1-1:45 pm4) Paul WachterWho: Founder and CEO, Main Street AdvisorsSession: Opening keynote, ‘Owning and Winning - Sports Media & Entertainment Binds Culture’.When: April 30, 1-1:45 pm5) Lip-Bu TanWho: CEO, Intel CorporationSession: Grand keynoteWhen: May 2, 9:30-10:00 am6) Vivek RanadiveWho: Chairman, CEO, and Governor, Sacramento KingsSession: Opening keynote, ‘Owning and Winning - Sports Media & Entertainment Binds Culture’.When: April 30, 1-1:45 pm7) Satyan GajwaniWho: Vice Chairman, Times InternetSession: Opening keynote, ‘Owning and Winning - Sports Media & Entertainment Binds Culture’.When: April 30, 1-1:45 pm8) Jagdeep Singh BachherWho: Chief Investment Officer, Office of the President, University of CaliforniaSessions:Opening keynote, ‘Owning and Winning - Sports Media & Entertainment Binds Culture’ (April 30, 1-1:45 pm)Grand keynote, ‘Governance & Ethics’ (May 2, 10:00-10:30 am)9) Anita ManwaniWho: President and Board Chair, TiE Silicon Valley; Founder and CEO, Carobar Business Solutions (reLIMS)Session: Panel, ‘From Grit to Greatness: Inside the Journey to Unicorn Status’When: May 1, 1:30-2:00 pm10) Warner ThomasWho: President and CEO, Sutter HealthSession: Grand keynote, ‘Designing the Future of Connected Care: Tech, Trust and the Road to Integration’When: May 1, 10:00-10:30 am11) Navin ChaddhaWho: Managing Partner, Mayfield FundSession: Opening address and fireside session with Microsoft Chairman and CEO, Satya NadellaWhen: May 1, 9-9:45 am12) Vasu JakkalWho: Corporate Vice President, MicrosoftSession: Grand keynoteWhen: May 1, 2:00-2:30 pm13) Shanker TrivediWho: Senior Vice President, Enterprise Business, NVIDIASession: Grand panel, ‘The Future of AI – Platforms, Innovation, & Investments’When: May 2, 1:30-2:00 pm14) Beerud ShethWho: Co-Founder and CEO, GupshupSession: Panel, ‘From Grit to Greatness: Inside the Journey to Unicorn Status’When: May 1, 1:30-2:00 pm15 ) Tsu-Jae King LiuWho: Dean and Roy W. Carlson Professor of Engineering, UC BerkeleySession: Grand keynote, ‘Governance & Ethics’When: May 2, 10:00-10:30 am16) Pradeep KhoslaWho: Chancellor, UC San DiegoSession: Grand keynote, ‘Governance & Ethics’When: May 2, 10:00-10:30 am17) Chet KapoorWho: Chairman and CEO, DataStaxSession: Panel, ‘From Grit to Greatness: Inside the Journey to Unicorn Status’When: May 1, 1:30-2:00 pm18 ) Sabeer BhatiaWho: Co-Founder, ShowReel; Founder, HotmailSession: Panel, ‘Open Quantum Conversation’When: May 2, 2-2:30 pm19) Scott CrowderWho: Vice President, IBM Quantum AdoptionSession: Panel, ‘Open Quantum Conversation’When: May 2, 2-2:30 pm20 ) Chetan NayakWho: Technical Fellow, Quantum Hardware, MicrosoftSession: Panel, ‘Open Quantum Conversation’When: May 2, 2-2:30 pm21) David WadhwaniWho: President, Digital Media Business, AdobeSession: Opening address and grand keynote session with Shantanu Narayen, Chair and CEO, AdobeWhen: May 2, 9-9:30 am22) Aravind RatnamWho: Chief Strategy and Revenue Officer, Q-CTRLSession: Panel, ‘Open Quantum Conversation’When: May 2, 2-2:30 pm23) Jayant ChaudharyWho: Union Minister of State (Independent Charge), Skill Development & Entrepreneurship; Minister of State, Ministry of Education, Government of IndiaSession: Grand keynoteWhen: April 30, 4:45-5:00 pm24) Jay VijayanWho: Founder and CEO, TekionSession: Panel, ‘From Grit to Greatness: Inside the Journey to Unicorn Status’When: May 1, 1:30-2:00 pmHead to the TiEcon 2025 website right away before slots fill up for the three-day extravaganza. Watch this space for additional information about bootcamps, networking opportunities, and more.*Economictimes.com is a subsidiary of Times Internet.
Categories: Business News

'गलत फैसले मत लो', सर्वोच्च न्यायालय ने अदालतों को दिए निर्देश; जानें क्यों SC ने अपनाया कड़ा रुख

Dainik Jagran - National - April 30, 2025 - 11:37am

डिजिटल डेस्क, नई दिल्ली।  सुप्रीम कोर्ट ने विभिन्न पीठों के फैसले को लेकर एक टिप्पणी की है। कोर्ट ने कहा, विभिन्न पीठों के असंगत फैसलों से जनता का भरोसा डगमगाता है और कहा कि इनमें एकरूपता होना जिम्मेदार न्यायपालिका की पहचान है।

दरअसल न्यायमूर्ति पीएस नरसिम्हा और न्यायमूर्ति जॉयमाल्या बागची की पीठ एक वैवाहिक मामले की सुनवाई कर रही थी, जिसमें कर्नाटक हाई कोर्ट की दो अलग-अलग एकल पीठों ने विरोधाभासी फैसले सुनाए थे।

'जनता का भरोसे खो देते ये फैसले'

इसको लेकर कोर्ट ने कहा, अलग-अलग बेंचों से आने वाले असंगत फैसले जनता के भरोसे को हिला देते हैं और मुकदमेबाजी को सट्टेबाजों के खेल में बदल देते हैं। यह फोरम शॉपिंग जैसी विभिन्न कपटी तीखे व्यवहारों को जन्म देता है जो न्याय की स्पष्ट धारा को बिगाड़ते हैं।

अदालत ने कहा कि हाई कोर्ट के न्यायाधीश ने यह कहते हुए खुद को गुमराह किया कि कार्यवाही दुर्भावनापूर्ण थी और अदालत की प्रक्रिया का दुरुपयोग था क्योंकि मामला वैवाहिक अदालत में लंबित था।

कर्नाटक हाई कोर्ट से जुड़ा है मामला

अब कोर्ट ने विवादित फैसले की जांच करने के बाद इस पर फैसला सुनाया है, उन्होंने कहा कि हमारा मानना ​​है कि जज ने एफआईआर/आरोपपत्र में लगाए गए आरोपों की विश्वसनीयता या अन्यथा के संबंध में जांच शुरू करके कानूनी रूप से गलती की है।' अदालत ने कहा कि जज ने एफआईआर में दर्ज हमले की प्रकृति की तुलना घाव प्रमाण पत्र के संबंध में की और आरोपों को असत्य पाया।

पीठ ने कहा कि इस प्रक्रिया में, न्यायाधीश ने कार्यवाही को रद करने के लिए एक मिनी-ट्रायल किया - जो कानून में अस्वीकार्य है।

इस संदर्भ में, न्यायाधीश द्वारा चिकित्सा साक्ष्य के साथ-साथ नेत्र संबंधी संस्करण का मूल्यांकन करने और कार्यवाही को रद्द करने के लिए एक लघु परीक्षण शुरू करना अनुचित था। क्या नेत्र संबंधी साक्ष्य चिकित्सा साक्ष्य के साथ पूरी तरह से असंगत है, यह परीक्षण का विषय है और प्रारंभिक चरण में अभियोजन को समाप्त करने का आधार नहीं हो सकता है।

पति-पत्नी विवाद को लेकर याचिका दायर 

अदालत का यह आदेश पत्नी की उस याचिका पर आया है जिसमें उसने अपने अलग हुए पति के खिलाफ आपराधिक मामला रद्द करने के उच्च न्यायालय के आदेश के खिलाफ याचिका दायर की थी।

उसने आरोप लगाया कि उसके अलग हुए पति का किसी दूसरी महिला के साथ संबंध है और वह महिला उसके साथ गाली-गलौज करती है। उसके साथ किए गए दुर्व्यवहार और दहेज की मांग के कारण वह अपने माता-पिता के साथ रहने लगी।

Categories: Hindi News, National News

UBS 1Q profit beats, Trump tariffs cloud outlook

Business News - April 30, 2025 - 11:23am
UBS on Wednesday posted better than expected first-quarter net profit, but the Swiss bank warned of an uncertain outlook as U.S. tariffs raise global growth fears even as the market tumult drove up earnings in its trading activity. Switzerland's biggest bank reported net profit attributable to shareholders of $1.7 billion in the first quarter of 2025, down from $1.8 billion a year earlier, but beating an average estimate of $1.3 billion in a company-provided poll of analysts. In its investment banking division, global markets enjoyed a record quarter with revenues up 32% year-on-year, underpinned by higher client activity in equities and foreign exchange, UBS said. The outlook was more muted, however, as the backdrop of U.S. President Donald Trump's sweeping tariffs raised uncertainty. "The prospect of higher tariffs on global trade presents a material risk to global growth and inflation, clouding the interest rate outlook," UBS said. UBS expected net interest income in its global wealth management business to decline sequentially by a low-single-digit percentage in the second quarter of 2025 and anticipated a similar decline in its Swiss business. Continued market uncertainty could delay corporate deals, the bank added. "With a wide range of possible outcomes, the economic path forward is particularly unpredictable," UBS said, adding that a likely further period of volatility in markets could prompt investors to put off decisions on strategy and capital allocation. The bank reconfirmed its share repurchase program for 2025, saying it had bought back $0.5 billion in shares in the first quarter and reserved another $2.5 billion for the remainder of the year, despite the uncertain outlook. The market turmoil comes on top of plans by Swiss authorities to make UBS hold more capital, which have weighed on the bank's shares, with government proposals for a banking regulation overhaul expected in June. Authorities have pledged to draw up stricter banking regulations to prevent a repeat of the meltdown of Credit Suisse in 2023, which was acquired by UBS in an emergency takeover. Integration of Credit Suisse's business remained on track, UBS said, adding it had delivered further $0.9 billion in exit rate gross cost savings and brought cumulative cost reductions to $8.4 billion, achieving 65% of the targeted cuts of $13 billion. UBS reduced its workforce by almost 2,000 full-time equivalents in the first quarter, the results showed, taking the total to just under 107,000 full-time equivalents by the end of March.
Categories: Business News

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