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EquityPandit

EquityPandit
MARKETS

Kirloskar Pneumatic Revenue Decline for Q1; Shares Falls by 2%

Kirloskar Pneumatic shares are down by 2%, the company reports an 11.04% decline in operational revenue at Rs 242 crore.

Kirloskar Pneumatic shares are down by 2% on July 20 as the company reported an 11.04% decline in its operational revenue at Rs 242.22 crore against its Rs 272.28 crore reported in the corresponding quarter of the previous fiscal year.

Kirloskar Pneumatic Limited is a subsidiary of the Kirloskar Group; the company primarily manufactures air compressors, industrial gas systems, and compressed air systems. The company has also ventured into developing wind turbine gearboxes and transmission mechanisms for railways.

The net profit for the current quarter was up by 10% at Rs 17.93 crore, while the company reported Rs 16.15 crore in Q1FY23.

The company reported a decline in profit after taxes, barring the non-operational other income, by 15.5% YoY to Rs 12.19 crore against Rs 14.44 crore in Q1FY23. In contrast, after taxes securing other income, the profit was down by 58.6% against the previous quarter.

EBITDA margins stood at 13% of the current quarter’s total income, up by 210 basis points from 10.9% in the previous fiscal year.

At 3:30 market close, the stock closed at Rs 646.05 apiece, down by 1.99% or Rs 13.10 on NSE.

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TECHNOLOGY

Swiggy Instamart Introduces 10-Minute Smartphone Delivery in 10 Cities

Dhruva Kulkarni

Swiggy Instamart is taking quick commerce to the next level with 10-minute smartphone delivery! Now, in 10 cities, customers can get top brands like Apple, Samsung, OnePlus, and Redmi delivered right to their doorstep.

The cities that are part of this service are Bengaluru, Delhi, Mumbai, Chennai, Faridabad, Noida, Gurugram, Kolkata, Hyderabad, and Pune, which offer ultra-fast smartphone deliveries and redefine convenience for buyers.

The launch includes a variety of smartphones, from budget-friendly models like the Redmi 14C to premium devices such as the iPhone 16e. Other brands available include Motorola, OPPO, Vivo, and Realme.

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Customers using ICICI Bank credit cards can avail a 5% discount, up to Rs 4,000, on orders above Rs 11,499 in the mobile phone category.

Swiggy Instamart has expanded to 100 cities, adding 32 new locations in 2025, as part of its rapid growth in quick commerce.

By extending its services beyond groceries and essentials, the platform aims to make smartphone purchases faster and more convenient than ever.

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TECHNOLOGY

Perplexity in Early Funding Talks at $18 Billion Valuation

Dhruva Kulkarni

Perplexity AI Inc., an AI-powered search startup competing with Google, is in early talks to raise $500 million to $1 billion at an $18 billion valuation, though details may change.

The startup previously received funding offers at a $15 billion valuation but has not commented on the latest round.

Founded in 2022, Perplexity rapidly grew its valuation from $1 billion to $3 billion and now seeks another major increase.

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It offers AI-powered search tools, internal file searches for organizations, and finance-related features like stock price lookups.

With nearly $100 million in annual recurring revenue and 15 million active users as of last March, Perplexity is expanding its market presence.

Facing competition from Google and OpenAI’s new search product, it is backed by SoftBank, Nvidia, and Jeff Bezos.

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TECHNOLOGY

Google to Acquire Cloud Security Firm Wiz for $32 Billion in Record Deal

Dhruva Kulkarni

Google is set to acquire cloud security startup Wiz for $32 billion in an all-cash deal, marking its largest acquisition ever and strengthening its cloud security and AI capabilities.

Wiz’s products will remain available on rival platforms like AWS and Microsoft Azure.

Founded in 2020 under Assaf Rappaport, Wiz rapidly grew to $100 million in annual recurring revenue within 18 months.

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It specialises in cloud security tools for prevention, detection, and response, helping Google compete with Microsoft in the cybersecurity space.

In July, Wiz declined a $23 billion offer from Google, opting for an IPO and targeting $1 billion in annual revenue before later changing course.

The acquisition aligns with Google’s strategy to expand its cloud business and address rising cybersecurity challenges in the AI-driven digital era.

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TECHNOLOGY

Tencent Reports Strongest Growth in a Year, Driven by Hit Games

Dhruva Kulkarni

Tencent recorded its fastest revenue growth in over a year, driven by successful game releases despite economic challenges.

Q4 revenue rose to 172.5 billion yuan ($23.8 billion), surpassing estimates, while net income reached 51.3 billion yuan, beating projections.

The company plans to repurchase at least HK$80 billion in shares in 2025 and raise its annual dividend by 32%.

Hit games like Dungeon & Fighter Mobile and Delta Force boosted growth, offsetting slowdowns in advertising and payments.

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President Xi Jinping’s meeting with tech leaders signals a softer stance on private firms, with AI, EVs, and chipmaking as key priorities.

WeChat remains a core asset, driving revenue through ads, mini-games, and e-commerce, while fintech struggles with stagnation.

Tencent’s market value jumped 30% ($140 billion) this year, benefiting from a Chinese tech rally, though it lags Alibaba’s 70% surge.

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TECHNOLOGY

WhatsApp and Telecom Department Team Up to Fight Online Fraud and Spam

Dhruva Kulkarni

The Department of Telecommunications (DoT) has teamed up with WhatsApp to launch a security campaign as part of Meta’s ‘Stay Safe from Scams’ initiative, aiming to tackle online fraud, spam, and raise awareness about digital threats.

Meta’s Global Policy Chief Joel Kaplan and Telecom Minister Jyotiraditya Scindia discussed efforts to combat online threats through this collaboration.

WhatsApp is using data from the Digital Intelligence Platform (DIP), a real-time intelligence-sharing system with over 550 stakeholders, including banks and law enforcement agencies.

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India has seen a sharp rise in cybercrime, with scams leading to massive financial losses and a growing concern over ‘digital arrests’ via WhatsApp calls.

The partnership seeks to curb such crimes by strengthening digital security measures and detecting telecom resource misuse.

While the DoT and telecom operators have already taken steps against spam and fraud, this initiative adds another layer of protection for users.

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