The stock of Info Edge is trading close to its record high level of Rs 7,462.95 touched on October 19, 2021. In comparison, the BSE Sensex was down 1 per cent at 81,041 at 10:29 AM. In the past eight months, the stock price of Info Edge has zoomed 59 per cent. READ MORE

Spot gold, buoyed by rate cut expectations as the US Fed concluded its monetary policy meet on July 31, extended its rally on the first day of the month; however, it came under selling pressure as wider markets fell. The yellow metal was changing hands at $2,440, down nearly 0.30 per cent when the MCX closed. Earlier, the metal rallied 1.55 per cent on July 31 as the Fed Chair Powell said that a rate cut will on the table if the Fed gets the desired data. READ MORE

– As a leading player in the Indian EV market, Ola Electric Mobility Ltd. (OEML) is developing vertically integrated manufacturing and technological capabilities for EVs and their component parts, such as cells. 

 

– The company has reported a loss for each of the last three fiscal years. The company’s Heavy investment in R&D may not give a return in the immediate future. Due to high competition, it may face downward pricing pressure with that company’s Employee attrition rate is too high. The business intends to go into the E-2W bike, three-wheeler, automobile, and—most importantly—the 4680 Li-thion battery market, where it hopes to establish itself as a worldwide center for EV batteries.

 

– Although its top line has been growing annually, its bottom line has improved due to lower losses. Undoubtedly, more time will be needed to turn the corner and  liminate the losses. We have a neutral position on this IPO in light of these reasons.

 

Views By – Shivani Nyati, Head of Wealth, Swastika Investmart 

Tata Motors’ results for the June quarter (Q1FY25) came in-lline with market expectations, prompting several brokerages to raise their target price for the company. The automaker’s consolidated net profit rose 74 per cent year-on-year (Y-o-Y) to Rs 5,566 crore in the June quarter of financial year 2025 (Q1FY25), from Rs 3,203 crore in the June quarter of financial year 2024 (Q1FY24). READ MORE

The unlisted shares of the much-awaited Ola Electric IPO (Ola Electric Mobility Limited), which opens for subscription today, are trading at a premium in the grey markets. Ola Electric shares are currently commanding a grey market premium (GMP) of around Rs 13-15 apiece, suggesting a potential premium of 17-20 per cent if trends sustain. READ MORE

>> Zomato reported a massive jump in its net profit in Q1FY25 to Rs 253 crore, from Rs 2 crore reported in Q1FY24. The company’s net profit jumped 44.5 per cent sequentially from Rs 175 crore in the preceding quarter. The company’s revenue from operations jumped 74 per cent YoY to Rs 4,206 crore in Q1FY25. As in the past few quarters, growth was driven by Blinkit, the quick commerce business of Zomato.