BSE stock jumps over 5% after Q2 profit up 61%; Jefferies bullish, Goldman neutral
November 12, 2025, 1:38 AM EST. BSE Ltd shares jumped about 5% in early trade after the exchange operator posted a 61% year-on-year rise in consolidated net profit to Rs 558 crore for Q2 FY26, helped by higher trading and platform revenues. The stock traded around Rs 2,770, up from the previous close, and has surged ~78% in the past year. Q2 revenue rose 44% to Rs 1,068 crore; EBITDA climbed 78% to Rs 691 crore, pushing margin to 64.7% from 52.4%. Growth came from trading segments, mutual fund and other platform services. Jefferies maintains a BUY with a target of Rs 2,930; Goldman Sachs is NEUTRAL with a target of Rs 2,460. Note: underlying EPS was Rs 13.6, about 3% above estimates.
Groww debuts with 14% premium on BSE, 12% on NSE; market cap at Rs 69,144 crore
November 12, 2025, 1:36 AM EST. Groww's parent Billionbrains Garage Ventures listed on November 12 at Rs 114 on BSE and Rs 112 on NSE, delivering a premium over the IPO price of Rs 100 and valuing the company at about Rs 69,144 crore at debut. The listing beat grey market premium expectations (GMP had weakened to around 5% pre-listing from ~17%), with strong demand as the IPO was subscribed nearly 18 times. Investors cited strong brand recall and rapid user growth in India's digital investing space. The Rs 6,632-crore IPO comprised a fresh issue and an OFS, with marquee backers including Peak XV Partners, YC Holdings, Tiger Global, and Sequoia Capital. Analysts' views ranged from positive on growth potential to concerns on valuation, with a key takeaway that Groww remains India's largest and fastest-growing investment platform by active users on NSE.
First Citizens BancShares (FCNCA) Valuation Under Scrutiny Amid Recent Momentum
November 12, 2025, 1:04 AM EST. First Citizens BancShares (FCNCA) has seen ~6.8% momentum over the past month, though the stock's 1-year return is -16.1% while a strong 5-year return of 233% highlights long-term value. A valuation narrative pins a fair value of about $2,155 per share-implying the stock is undervalued versus the current price of roughly $1,817. The bull case hinges on a shrinking share count via buybacks and digital deposit growth leveraging a robust balance sheet to lift EPS and net interest income. Risks include macro shifts and potential rate cuts that could pressure earnings. The piece emphasizes a deeper dive into FCNCA's growth trajectory and potential mispricing.
Cogent Biosciences Prices Public Offerings of Common Stock and Convertible Notes for ~$475 Million
November 12, 2025, 12:38 AM EST. Cogent Biosciences priced a public offering of 9,677,420 shares of common stock at $31.00 and a $200 million aggregate principal amount of 1.625% convertible senior notes due 2031, targeting net proceeds around $475.3 million. The Equity Offering includes a 30-day over-allotment option for up to 1,451,613 additional shares; the Convertible Notes Offering has a corresponding option up to $30 million principal amount to cover over-allotments. Closings are expected Nov. 13, 2025 (equity) and Nov. 18, 2025 (notes). The notes are unsecured senior obligations, with semi-annual interest of 1.625% and an initial conversion rate of 22.2469 shares per $1,000 principal (roughly $44.95 per share).
Groww IPO Debuts with 14% Premium on BSE, 12% on NSE; Analysts Weigh In
November 12, 2025, 12:36 AM EST. Groww IPO debuted on Dalal Street with a premium listing: BSE at Rs 114 (+14% over issue price of Rs 100) and NSE at Rs 112 (+12%). The Bengaluru-based fintech's Rs 6,632 crore issue comprised a fresh issue of Rs 1,060 crore and an OFS of Rs 5,572 crore. The grey market premium (GMP) stood around Rs 3, suggesting a modest premium, yet the stock opened well above those levels. Analysts like Prashanth Tapse (Mehta Equities) and Raj Gaikar (Samco Securities) warn valuations are rich (about 33x FY25 earnings vs peers around 29x-31x) but remain cautiously optimistic; advise holding for 2-3 years and watching for post-listing dips as entry points. Groww is driven by rapid user growth, brand recall, expanding market share in F&O and mutual funds, and a scalable digital model with low incremental costs.
AI Analyst Trims BigBear.ai Price Target Despite Q3 Beat
November 12, 2025, 12:34 AM EST. TipRanks' AI analyst trims BigBear.ai stock target to $5.50 despite a Q3 FY25 beat on revenue. Revenue declined 20% YoY to $33.1 million, but topped estimates of $31.81 million. The net loss narrowed to $0.03 per share vs $0.07 expected. The new target implies about 9.24% downside from current levels with a Neutral rating. Positive catalysts include the Ask Sage acquisition adding roughly $25 million in annual recurring revenue in 2025 and a cash balance of $456.6 million. Risks include ongoing revenue weakness, weak cash flow, and potential goodwill impairment. Street consensus remains Moderate Buy with an average target near $6.33 (about 4.46% upside); YTD has risen about 36.18%.
SoftBank's Nvidia stake: why divesting could actually be good for both sides
November 12, 2025, 12:32 AM EST. Analysts say a SoftBank divestment of its Nvidia stake could reduce concentration risk and unlock capital for other bets. Trimming this exposure might strengthen SoftBank's balance sheet and fund new ventures or return cash to shareholders. For Nvidia, a sale by a single large holder could improve liquidity and broaden the investor base, while easing potential governance concerns. The move could show Nvidia's rally is sustainable beyond a single big holder, enabling the stock to trade more on fundamentals and broader AI demand. Timing and scale will matter, but even gradual divestment could recalibrate the AI stock landscape.
PhysicsWallah IPO Day 2 LIVE: 7% Subscribed, GMP Drops, Review & Subscriptions
November 12, 2025, 12:20 AM EST. PhysicsWallah's IPO entered Day 2 with ~7% overall subscription as of now, while GMP slipped to about ₹1.5. The offer window runs from Nov 11-13 with a price band of ₹103-₹109. In the retail segment, bids are at 33%, NII at 2%, and QIB subscriptions have not yet opened; the employee portion is fully subscribed at 1.11x. The issue comprises a fresh issue of ₹3,100 crore and an OFS up to ₹380 crore from founders Alakh Pandey and Prateek Boob, who each own ~40.31%. The company, backed by WestBridge Capital, Hornbill, and GSV Ventures, narrowed FY2025 losses to ₹243 crore while revenue rose to ₹2,887 crore. Stay tuned for more updates.
Groww IPO Listing: GMP Dips Ahead of Debut as 17.6x Subscription Attracts Investors
November 12, 2025, 12:18 AM EST. Groww's parent Billionbrains Garage Ventures made its stock market debut after a ₹6,632 crore IPO that drew a 17.6x overall subscription. Investors bid for 641 crore shares vs 36.47 crore on offer. The institutional portion reserved 75% was subscribed about 22x, the non-institutional portion ~14.2x, and retail bids roughly 9.4x of the tranche. Ahead of listing, Groww's Grey Market Premium (GMP) slipped to around ₹6 from ₹17 earlier, though GMP is speculative and the listing price can differ from GMP. Watch this space for live updates on the debut.
Hong Kong IPO Market to Extend Hot Streak into 2026, Says CICC
November 12, 2025, 12:16 AM EST. CICC says Hong Kong's IPO market will extend its hot streak into 2026, driven by a pipeline of over 100 IPOs and demand from Chinese issuers seeking international capital. Mainland fundraising has risen to about ¥90 billion this year, but regulators remain cautious, making a full shift away from Hong Kong unlikely. Hong Kong had raised HK$216 billion from IPOs in the first 10 months. Shi Qi, deputy head of capital markets at CICC, notes Hong Kong remains attractive for quality issuers seeking global investors and valuation flexibility, especially in sectors aligned with national priorities such as robotics and advanced manufacturing. The market's allure persists even as the A-share bull run continues.
Groww IPO Listing Live: GMP, Listing Gains & Expert Reviews on D-Street
November 12, 2025, 12:05 AM EST. Groww, established in 2017 and Bengaluru-based fintech, is set to debut on the D-Street with its IPO. The platform blends mutual funds, stocks, F&O, ETFs, IPOs, digital gold, and even U.S. stocks, with its mobile app favored by retail investors. Beyond core trading, Groww offers Margin Trading Facility (MTF), algorithmic trading, New Fund Offers (NFOs), and credit solutions. The IPO marks a milestone for a digital investment platform aiming to broaden access to capital markets. Markets will monitor GMP, listing gains, and expert reviews as Groww transitions from a private fintech to a publicly traded company. Investors should weigh growth prospects, risk factors, and competitive positioning in this fast-moving fintech space.
Tenneco Clean Air IPO Day 1: GMP, Price Band, Anchor Investors & Key Dates
November 12, 2025, 12:02 AM EST. Shares of Tenneco Clean Air India Ltd opened for public subscription from November 12 to 14, with an issue price band of ₹378-₹397 per share. The current GMP stands at about ₹61, signaling a potential listing near ₹458 (roughly 15.4% above the upper band). The anchor book raised about ₹1,080 crore from 58 investors, including SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, SBI Life, Norway's GPFG, and Goldman Sachs. The issue allocates 50% to QIBs, 35% to retail, and 15% to NII; the minimum bid is 37 shares. Promoters include Tenneco Mauritius Holdings and related entities. Lead broker notes from ICICI Direct and SBICAP Securities advocate subscribing, citing robust fundamentals and FY25 multiples around P/E ~29x and EV/EBITDA ~19x. Final details may change.
