TATA ELXSI (TATAELXSI)
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Jio Files 7,220 Patents, Prices ₹30,213-Cr IPO at 34x Earnings
Ahead of its record ₹30,213-crore IPO, Jio Platforms disclosed 7,220 filed patents, positioning itself as India's only company in the global top 20 patent rankings. The IPO is priced at 34x earnings, below Bharti Airtel's 39x, while Akash Ambani outlined plans to monetise Jio's tech stack abroad through services rather than hardware or software licensing, and flagged future tariff hikes. Jio also revealed it built a telecom tower every minute during its 5G rollout.
Tata Elxsi Shares Jump 7% on Q2 Profit of Rs 170 Crore
Tata Elxsi shares climbed over 7% after the company reported a Q2 profit rise to Rs 170 crore. Brokerages remain split on the stock, with Morgan Stanley and Motilal Oswal reiterating bearish calls even as the market cheered the earnings beat.
Nifty Opens Flat as Adani Enterprises Leads Watchlist Amid Weak GIFT Signals
Nifty and Sensex opened flat on Wednesday after Tuesday's IT-led surge, with GIFT Nifty signaling a weak start amid rising Brent crude and continued FII selling. Adani Enterprises remains a key stock to watch, while nearly 50% of analysts tracking Tata Elxsi stay bearish after its Q2 results.
Tata Elxsi Q2 profit rises 10% to ₹170 crore on 15% revenue growth
Tata Elxsi reported a 10% year-on-year rise in Q2 profit to ₹170 crore, with revenue growing 15%, though one report described profit as flat while margins improved across auto, media, and healthcare segments. The stock traded mixed alongside other Q2 results from ICICI Pru Life and Hero Motors, and remains in focus for the October 14 session. Investor attention is now on how the market digests the earnings and management commentary.
Volvo launches EX90 electric SUV at ₹1.26 crore in India
Swedish automaker Volvo Cars’ Indian subsidiary on Monday launched its EX90 electric SUV at ₹1.26 crore, undercutting the Kia EV9 GT-Line, priced at ₹1.30 crore, by ₹4 lakh and the Mercedes-Benz EQS SUV 580, priced at ₹1.49 crore, by ₹23 lakh, as it seeks to regain ground in India’s increasingly competitive luxury electric-vehicle market.
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