Valuation

NSE IPO: BSE's improving operating leverage and residual room to expand in cash equities, where NSE still holds ~93 per cent, have justified a scarcity-and-momentum premium for the listed exchange.

India's deeptech startup ecosystem is not showing signs of valuation "irrationality" or a funding frenzy, and valuations remain grounded even as high-quality investment opportunities emerge, according to investment firm Piper Serica's Director Ajay Modi. Global capital is only gradually flowing into the deeptech ecosystem, while geopolitical uncertainty has kept excess liquidity from chasing risk assets, he said. "In the deeptech ecosystem that we are talking about today, we do not have that irrationality kicking-in yet because global capital is (only) slowly and steadily finding its way into that ecosystem," he told PTI. The Piper Serica senior executive was responding to a question on the sharp valuation corrections seen in parts of India's startup ecosystem. Last week, UpGrad completed its acquisition of Unacademy for just over USD 200 million, valuing the edtech startup at about 94 per cent below its peak valuation of USD 3.44 billion in 2021 - a stark illustration of the reset

Houlihan Lokey's 2026 IPL Brand Valuation Study found that IPL's standalone brand value has risen to $4.3 billion, up 10.3% from the previous year

The valuation discount of banking stocks relative to the broader market has widened despite the sector remaining one of the key drivers of corporate earnings in the country in recent years

The mobility startup, now valued at $3 billion, is expanding deeper into Tier-2 and Tier-3 markets amid rising demand for low-cost transport

While the average valuation of the top 20 startups was $1.78 billion, the remaining 80 had an average valuation of just $0.42 billion, nearly one-fourth of the top cohort

Proposed transaction will result in Biocon Biologics becoming a wholly-owned subsidiary of Biocon, simplifying the group structure, and strengthening the consolidated balance sheet

Alphabet's stock price rose more than 5 per cent on Monday to reach a new record of $315.9 per share, giving the company its near-$4 trillion valuation

A $5 trillion valuation would also mean Nvidia's market value will exceed that of the entire cryptocurrency market and equal about half the total value of the pan-European Stoxx 600 index

ICICI Securities optimistic about IPO-bound firm's strong free cash flow and potential deleveraging

The brokerage now values Swiggy at ₹560, capturing the inflection in food delivery growth and the path to improved economics in Instamart.

Groww has received Sebi approval for its $1 billion IPO, which will be India's largest capital market fundraise, valuing the firm at $7-8 billion after profit tripled in FY25

Catamaran is one of the country's largest private investors, running $1.3 billion for the Infosys Ltd founder, who is the father-in-law of former UK Prime Minister Rishi Sunak

Revenue was at ₹1,780 crore, with earnings before interest, taxes, depreciation, and amortisation (Ebitda) at ₹340 crore and adjusted PAT of ₹260 crore for Q3FY25

In 2022, the average cheque size offered in our second fund was roughly 20 per cent lower than that in 2019-21 but with a 20% higher shareholding in companies, said Info Edge founder Bikhchandani

The VNB margin expanded 80 basis points Y-o-Y to 17.6 per cent at end FY25. The VNB margin expansion is primarily on account of focus towards the profitable non-par products

In the case of ICICI Prudential BAF, the net equity exposure was 47 per cent last month compared to a low of 31.4 per cent in August 2024

Balkrishna's current valuation at 14 times FY27 enterprise value to operating profit is attractive given a strong return on invested capital of 25 per cent in FY26

Eyewear startup Lenskart is targeting a valuation of $7-8 billion and plans to list by the end of the financial year 2026

These stocks, handpicked by top brokerages, offer a blend of value and growth