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Food delivery company Swiggy has laid off 380 employees.
Layoffs attributed to “challenging” macroeconomic conditions, “accelerated” timelines for profitability and overhiring.
Source: Company
The broader market indices were flat; S&P BSE MidCap was down 0.18%, whereas S&P BSE SmallCap was unchanged.
Twelve out of the 19 sectors compiled by BSE declined, while eight advanced in trade.
The market breadth was skewed in favour of the bulls. About 1,781 rose, 1,573 declined, 169 remained unchanged on the BSE.
Das demitted office on Thursday after completion of his tenure
Source: Exchange notice
The broader market indices were mixed; S&P BSE MidCap was down 0.05%, whereas S&P BSE SmallCap was higher at 0.20%.
Ten out of the 19 sectors compiled by BSE declined, while nie advanced in trade.
The market breadth was skewed in favour of the bulls. About 1,628 rose, 882 declined, 141 remained unchanged on the BSE.
The local currency strengthened by 12 paise to 81.24 at open on Friday. It closed at 81.36 on Thursday.
Source: Bloomberg
The yield on the 10-year bond opened 2 bps higher at 7.33% on Friday. It ended at 7.31% on Thursday.
Source: Bloomberg
Moody's has affirmed the Baa3 long-term local and foreign currency bank deposit ratings of State Bank of India.
It has also upgraded the long-term local and foreign currency bank deposit ratings of Bank of Baroda, Canara Bank, and Punjab National Bank to Baa3 from Ba1.
The outlooks on the long-term ratings of all four banks remain stable.
Source: Moody’s statement
Revenue up 4.7% to Rs 2,056 crore (Bloomberg estimate: Rs 2,092 crore)
EBITDA up 6.2% to Rs 359.5 crore (Bloomberg estimate: Rs 389.0 crore)
PAT up 4.2% to Rs 235.9 crore
Dividend declared at Rs 19 per share
FY23 revenue growth guidance raised to 22% in CC
Source: Exchange filing
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