Zerodha marks $3.6 Billion valuation


Zerodha's $3.6 Billion Valuation

Zerodha, India's largest online stock broking platform, is valued at ₹30,000 crore ($3.6 billion), according to co-founder Nithin Kamath, who believes this is lower than market estimates. Zerodha, which recently turned 13, reported a revenue of ₹6,875 crore for 2023 with a profit after tax of ₹2,900 crore. Kamath values the company at 10-15 times its PAT. Zerodha has not raised private capital and invests in businesses like Ditto (an insurance advisory startup) and Zerodha Capital (offering loans against securities) to support long-term growth. Kamath emphasizes building a resilient business amidst changing valuations.

Google and HP Partner to Manufacture Affordable Chromebooks in India for Education

Google is teaming up with HP to manufacture Chromebooks in India starting from October 2. These affordable PCs aim to meet the educational sector's demand for budget-friendly devices. They will be produced at HP's Flex Facility near Chennai. This collaboration aligns with the Indian government's "Make in India" initiative, and HP is an applicant for the production-linked incentive scheme for IT hardware. Through this partnership, Google and HP aim to support digital education in India with high-quality, cost-effective computers, following HP's expansion efforts in local manufacturing since 2020.


Accenture Q4 2023 Revenue Misses Estimates

Dublin-based IT giant Accenture reported Q4 2023 revenue of nearly $16 billion, falling below estimates due to inflationary pressures impacting IT spending. However, its full-year revenue reached $64.1 billion, up 4% YoY. This is significant for the Indian IT sector, given Accenture's influence as a leading indicator. The company anticipates Q1FY24 revenue growth of -2% to 2% and full-year growth of 2-5%. Despite challenges, Accenture remains optimistic about FY25 revenue growth, stating it could surpass consensus estimates by 1-3.9%. This news comes amid a tough outlook for the Indian IT sector, with Infosys also lowering its guidance.

Mubadala Eyes Stake in Manipal Hospitals, Indian Healthcare

Abu Dhabi's Mubadala Investment Company is in talks to acquire a stake of under 10% in India's Manipal Hospitals, marking its first foray into the Indian healthcare sector. The discussions involve Singapore-based Temasek, which seeks to sell a small stake at the same $5 billion valuation as a previous transaction in April. This suggests a potential valuation of up to $500 million for the Mubadala-Temasek deal. India's thriving healthcare sector has attracted increased investment amid the pandemic, and Manipal Hospitals is an appealing choice for Mubadala, as it ranks as India's second-largest hospital chain with 29 multispecialty hospitals.


VinFast Plans Indian Manufacturing Plant Amidst Ambitious Global Expansion

Vietnamese electric vehicle (EV) maker VinFast plans to establish a manufacturing plant in India, potentially in Tamil Nadu or Gujarat. It's uncertain whether the plant will serve exports or the Indian market. VinFast, a subsidiary of Vingroup, aims to compete with Tesla in the US, despite selling only 7,400 cars last year compared to Tesla's 1.31 million. They project sales of 40,000 to 50,000 cars in the upcoming year. Despite a high-profile NASDAQ listing, VinFast's stock currently trades at around 20% of its peak value at $12.32 per share.

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