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- INDIAMART
INDIAMART
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Recent events
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News
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Corporate Actions
Indiamart Intermesh hits over 2-year low as on weaker Q3 metrics
** Indiamart Intermesh INMR.NS shares slide as much as 10% to 2,065.40 rupees, lowest since Dec 2022
** INMR among top losers on Nifty 500 .NIFTY500
** The B2B online market place reports 36% Y/Y rise in Q3 profit, aided by cost savings, but other key metrics suffered
** Paid subscribers fell by 4,000 Q/Q, while collections were muted
** Ambit Capital says the financial beat is immaterial if lead indicators are anaemic
** Jefferies says INMR's commentary suggests subscriber adds to remain under pressure
** At least 6 brokerages cut PTs, lowering the median to 2,660 rupees from 3,100 rupees a month back -LSEG
** INMR shares down 5.5% in Jan after falling over 17% in 2024
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
** Indiamart Intermesh INMR.NS shares slide as much as 10% to 2,065.40 rupees, lowest since Dec 2022
** INMR among top losers on Nifty 500 .NIFTY500
** The B2B online market place reports 36% Y/Y rise in Q3 profit, aided by cost savings, but other key metrics suffered
** Paid subscribers fell by 4,000 Q/Q, while collections were muted
** Ambit Capital says the financial beat is immaterial if lead indicators are anaemic
** Jefferies says INMR's commentary suggests subscriber adds to remain under pressure
** At least 6 brokerages cut PTs, lowering the median to 2,660 rupees from 3,100 rupees a month back -LSEG
** INMR shares down 5.5% in Jan after falling over 17% in 2024
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
IndiaMART InterMESH Dec-Quarter Consol Net Profit 1.21 Bln Rupees
Jan 21 (Reuters) - IndiaMART InterMESH Ltd INMR.NS:
DEC-QUARTER CONSOL NET PROFIT 1.21 BILLION RUPEES
DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 3.54 BILLION RUPEES
Source text: ID:nBSEcqmdl
Further company coverage: INMR.NS
(([email protected];;))
Jan 21 (Reuters) - IndiaMART InterMESH Ltd INMR.NS:
DEC-QUARTER CONSOL NET PROFIT 1.21 BILLION RUPEES
DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 3.54 BILLION RUPEES
Source text: ID:nBSEcqmdl
Further company coverage: INMR.NS
(([email protected];;))
Indiamart Intermesh To Purchase Shares, Subscribe To Preference Shares Of Mobisy Technologies
Nov 29 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
TO PURCHASE SHARES, SUBSCRIBE TO PREFERENCE SHARES OF MOBISY TECHNOLOGIES
TO INVEST UPTO 142.8 MILLION RUPEES IN MOBISY
Source text: ID:nNSE2KDbd
Further company coverage: INMR.NS
(([email protected];;))
Nov 29 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
TO PURCHASE SHARES, SUBSCRIBE TO PREFERENCE SHARES OF MOBISY TECHNOLOGIES
TO INVEST UPTO 142.8 MILLION RUPEES IN MOBISY
Source text: ID:nNSE2KDbd
Further company coverage: INMR.NS
(([email protected];;))
Indiamart Intermesh Says To Invest 100 Million Rupees In Truckhall
Oct 30 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
INDIAMART INTERMESH - TO INVEST 100 MILLION RUPEES IN TRUCKHALL
Source text: ID:nnAPN2CZT4V
Further company coverage: INMR.NS
(([email protected];))
Oct 30 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
INDIAMART INTERMESH - TO INVEST 100 MILLION RUPEES IN TRUCKHALL
Source text: ID:nnAPN2CZT4V
Further company coverage: INMR.NS
(([email protected];))
Indiamart Intermesh To Invest 50 Mln Rupees In Edgewise Technologies Via Unit
Oct 28 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
INDIAMART INTERMESH- TO INVEST 50 MILLION RUPEES IN EDGEWISE TECHNOLOGIES VIA UNIT
Source text: ID:nBSE9ZbvzP
Further company coverage: INMR.NS
(([email protected];))
Oct 28 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
INDIAMART INTERMESH- TO INVEST 50 MILLION RUPEES IN EDGEWISE TECHNOLOGIES VIA UNIT
Source text: ID:nBSE9ZbvzP
Further company coverage: INMR.NS
(([email protected];))
IndiaMART InterMESH falls most since listing as analysts flag weak collections growth
** Shares of e-commerce co IndiaMART InterMESH INMR.NS fall as much as 18.8% to 2,447.50 rupees, their biggest intraday pct loss since listing in July 2019
** Co on Saturday reported 53.2% Y/Y jump in Q2 standalone net profit while rev rose 18.2% Y/Y
** Jefferies while calling the results in-line, said the standalone collections growth at 5% YoY, the weakest since 2020, was the key negative from Q2, highlighting softness in subscription addition
** Downgrades stock to "Underperform" from "Buy", cuts TP by ~35% to 2,540 rupees
** According to PhillipCapital analysts, weak collections growth is precursor to weakening growth trajectory ahead as collections precede revenue recognition
** Downgrades stock to "Neutral" from "Buy", cuts TP by 1.4% to 3,400 rupees
(Reporting by Ashish Chandra in Bengaluru)
(([email protected] (+91 7982114624))
** Shares of e-commerce co IndiaMART InterMESH INMR.NS fall as much as 18.8% to 2,447.50 rupees, their biggest intraday pct loss since listing in July 2019
** Co on Saturday reported 53.2% Y/Y jump in Q2 standalone net profit while rev rose 18.2% Y/Y
** Jefferies while calling the results in-line, said the standalone collections growth at 5% YoY, the weakest since 2020, was the key negative from Q2, highlighting softness in subscription addition
** Downgrades stock to "Underperform" from "Buy", cuts TP by ~35% to 2,540 rupees
** According to PhillipCapital analysts, weak collections growth is precursor to weakening growth trajectory ahead as collections precede revenue recognition
** Downgrades stock to "Neutral" from "Buy", cuts TP by 1.4% to 3,400 rupees
(Reporting by Ashish Chandra in Bengaluru)
(([email protected] (+91 7982114624))
Indiamart Intermesh Says Co's Shareholding To Be Diluted From 26% To 24.21% In Ib Monotaro
July 26 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
INDIAMART INTERMESH - CO'S SHAREHOLDING TO BE DILUTED FROM 26% TO 24.21% IN IB MONOTARO
Further company coverage: INMR.NS
(([email protected];))
July 26 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
INDIAMART INTERMESH - CO'S SHAREHOLDING TO BE DILUTED FROM 26% TO 24.21% IN IB MONOTARO
Further company coverage: INMR.NS
(([email protected];))
IndiaMART InterMESH jumps on Q4 profit rise
** Shares of IndiaMART InterMESH INMR.NS rise as much as 9.3% before trimming some gains, last up 8.4% at 2,866.75 rupees - its highest since Oct. 2023
** E-commerce co's Q4 consol profit jumps 78% as collections from customers grow 16%
** Stock eyes busiest trading day since July 2023, volumes at 11.4x the 30-day avg
** Analysts' avg rating on stock is equivalent of "Buy", their median PT is 3,000 rupees- ~14% premium on last close, per LSEG data
** Including session's gains, stock up 5.3% so far this year
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
** Shares of IndiaMART InterMESH INMR.NS rise as much as 9.3% before trimming some gains, last up 8.4% at 2,866.75 rupees - its highest since Oct. 2023
** E-commerce co's Q4 consol profit jumps 78% as collections from customers grow 16%
** Stock eyes busiest trading day since July 2023, volumes at 11.4x the 30-day avg
** Analysts' avg rating on stock is equivalent of "Buy", their median PT is 3,000 rupees- ~14% premium on last close, per LSEG data
** Including session's gains, stock up 5.3% so far this year
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
Indiamart Intermesh Approved Re-Appointment Of Dinesh Chandra Agarwal As Managing Director And CEO
April 5 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
APPROVED RE-APPOINTMENT OF DINESH CHANDRA AGARWAL AS MANAGING DIRECTOR AND CEO
APPOINTED JITIN DIWAN AS CHIEF FINANCIAL OFFICER DESIGNATE
Further company coverage: INMR.NS
(([email protected];))
April 5 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
APPROVED RE-APPOINTMENT OF DINESH CHANDRA AGARWAL AS MANAGING DIRECTOR AND CEO
APPOINTED JITIN DIWAN AS CHIEF FINANCIAL OFFICER DESIGNATE
Further company coverage: INMR.NS
(([email protected];))
Indiamart Intermesh Says Shareholding Of Unit Tradezeal In Procmart Will Be Diluted From 19.5% To 13%
March 27 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
SHAREHOLDING OF UNIT TRADEZEAL IN PROCMART WILL BE DILUTED FROM 19.5% TO 13%
Source text for Eikon: ID:nNSE59Z4NF
Further company coverage: INMR.NS
(([email protected];))
March 27 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
SHAREHOLDING OF UNIT TRADEZEAL IN PROCMART WILL BE DILUTED FROM 19.5% TO 13%
Source text for Eikon: ID:nNSE59Z4NF
Further company coverage: INMR.NS
(([email protected];))
Indiamart's subscriber additions to double in fiscal 2025, Jefferies says
** Jefferies says most investors believe Indiamart Intermesh INMR.NS offers value to buyers and suppliers and is well secured against competition; however, some are concerned with execution and slowing subscriber additions
** Subscriber additions moderate to 9,000 in 9MFY24 from 34,000 in FY23
** Jefferies expects paid subcriber additions to double to 6,000/quarter in fiscal 2025 from 3,000/quarter in fiscal 2024, driven by reduction in renewal churn and normalisation of gross additions after price hikes
** Forecasts 19%/25% rev/EPS CAGR over FY24-26; retains 'buy' with price target of 3,400 rupees, an implied upside of 30% over last close
** Avg rating of 17 analysts is 'buy,' median PT is 3,150 rupees - LSEG
** INMR up 4% at 2,650.50 rupees, top percentage gainer on Nifty small-cap index .NIFSMCP100
** Stock down 2.4% YTD vs small-cap index's 0.7% rise
(Reporting by Rama Venkat in Bengaluru)
** Jefferies says most investors believe Indiamart Intermesh INMR.NS offers value to buyers and suppliers and is well secured against competition; however, some are concerned with execution and slowing subscriber additions
** Subscriber additions moderate to 9,000 in 9MFY24 from 34,000 in FY23
** Jefferies expects paid subcriber additions to double to 6,000/quarter in fiscal 2025 from 3,000/quarter in fiscal 2024, driven by reduction in renewal churn and normalisation of gross additions after price hikes
** Forecasts 19%/25% rev/EPS CAGR over FY24-26; retains 'buy' with price target of 3,400 rupees, an implied upside of 30% over last close
** Avg rating of 17 analysts is 'buy,' median PT is 3,150 rupees - LSEG
** INMR up 4% at 2,650.50 rupees, top percentage gainer on Nifty small-cap index .NIFSMCP100
** Stock down 2.4% YTD vs small-cap index's 0.7% rise
(Reporting by Rama Venkat in Bengaluru)
Indiamart Intermesh Dec-Quarter Consol Net Profit Falls
Jan 18 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
DEC-QUARTER CONSOL NET PROFIT 819 MILLION RUPEES VERSUS 1.13 BILLION RUPEES
DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 3.05 BILLION RUPEES VERSUS 2.51 BILLION RUPEES
Further company coverage: INMR.NS
(([email protected];))
Jan 18 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
DEC-QUARTER CONSOL NET PROFIT 819 MILLION RUPEES VERSUS 1.13 BILLION RUPEES
DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 3.05 BILLION RUPEES VERSUS 2.51 BILLION RUPEES
Further company coverage: INMR.NS
(([email protected];))
EXCLUSIVE-IndiaMART is working with Novo Nordisk to halt illegal Wegovy sales -source
By Rishika Sadam
HYDERABAD, India, Dec 18 (Reuters) - Indian online marketplace IndiaMART INMR.NS has been removing unauthorized listings of Novo Nordisk's NOVOb.CO blockbuster weight-loss drug Wegovy after holding talks with the Danish drugmaker in early October, a source familiar with the matter told Reuters.
The drugmaker's India legal team held discussions with IndiaMART's top executives to develop a "framework" for regularly alerting the online marketplace about listings by counterfeiters in an effort to curtail illegal sales, the source said on condition of anonymity.
Novo Nordisk is the sole patent holder of semaglutide, the active ingredient in both Wegovy and Novo's diabetes drug Ozempic, which are not yet approved for sale in India. A spokesman for Novo India did not respond to multiple requests seeking comment.
"Dozens of such listings have been removed from the platform after Novo reached out to IndiaMART saying the sellers do not hold the trademark for Wegovy," the source said without providing a specific number.
Extraordinary demand for Novo's weight-loss drugs has been fueling a global surge in counterfeit versions.
Novo's global spokesperson said the drugmaker regularly looks for suspicious or illegal online sales and "where possible" engages with these platforms on a protocol to ensure they work to prevent or respond to such illegal offers. The company did not comment on specific efforts in India.
In late September, Novo Nordisk's India Managing Director Vikrant Shrotriya told Reuters the illegal sellers were "difficult to trace."
IndiaMART, one of India's top online marketplaces, allows dealers to sell on its website after a nominal background check and says it has minimal control over what is advertised and sold.
A leading U.S. government agency named IndiaMART on its 'Notorious Markets' list for 2022, highlighting how counterfeit goods on the marketplace remained "a serious concern".
A Reuters review found dozens of listings featuring Wegovy, Ozempic and claims of copies of semaglutide by a Bangladesh-based firm on IndiaMART between September and November. While it has taken many of them down, some remain on the website.
ROOM FOR IMPORT
Novo introduced Wegovy in the U.S. in 2021 and has since launched the drug in several European markets, but has struggled to meet soaring demand fueled by a global obesity crisis. The once-weekly injection has been shown in clinical trials to help a patient lose up to 15% of their body weight.
Wegovy, Ozempic and Eli Lilly's LLY.N Mounjaro and Zepbound belong to a class of therapies known as GLP-1 receptor agonists originally developed to control blood sugar in patients with type 2 diabetes. But they also slow digestion, helping patients feel full longer.
Indian law allows drugs approved in foreign countries to be imported and sold in the country after obtaining an import license from the drug regulator by the original drug manufacturer's partner in India.
Novo aims to officially launch Wegovy in India in 2026 after securing regulatory approvals, Shrotriya has said.
Certain provisions of the law also allow drugs that have not been formally approved by the Indian drug regulator to be imported for individual use, provided patients make an appeal with valid prescriptions and proof of identity.
India's Central Drugs Standard Control Organization did not respond to Reuters' requests seeking comment.
A box of legally imported Wegovy containing three injection pens costs around 1200 euros ($1,309) including shipping charges, according to Indian Pharma Network, a New Delhi-based private firm that helps with importing medicines.
On IndiaMART, a box containing four pens claiming to be Wegovy is being sold for 18,000 Indian rupees ($216.50) and higher.
Much like in the U.S. and elsewhere, Wegovy and Ozempic have made their way into India's elite social circles and among celebrities. Many well-heeled Indians procure the drug through local suppliers or friends visiting from foreign cities, doctors and fitness experts have told local media.
"Such products automatically make it to gray market sale. There's a craze for Wegovy among people after much hype from celebrities," a Hyderabad-based bariatric surgeon said on condition of anonymity. "Only India's affluent can afford to use it given the high price."
($1 = 83.1400 Indian rupees)
($1 = 0.9164 euros)
Suspected fake Ozempic causes hypoglycemia in 11 in Lebanon nL1N3CT376
FOCUS-Demand for weight-loss drugs fuels global rise in counterfeits nL1N3BQ1BJ
US FDA warns online vendors to stop selling unapproved weight-loss drugs nL1N3BG2C6
Eli Lilly sues over US sales of bogus Mounjaro for weight loss nL1N3AV32A
Belgium seizes fake weight-loss drugs containing insulin nL1N3C0211
Intercept fake Ozempic, German drug regulator tells pharmacies, distributors nL1N3BH20W
(Reporting by Rishika Sadam in Hyderabad; Additional reporting by Maggie Fick in London; Editing by Michele Gershberg, Dhanya Skariachan and Bill Berkrot)
(([email protected];))
By Rishika Sadam
HYDERABAD, India, Dec 18 (Reuters) - Indian online marketplace IndiaMART INMR.NS has been removing unauthorized listings of Novo Nordisk's NOVOb.CO blockbuster weight-loss drug Wegovy after holding talks with the Danish drugmaker in early October, a source familiar with the matter told Reuters.
The drugmaker's India legal team held discussions with IndiaMART's top executives to develop a "framework" for regularly alerting the online marketplace about listings by counterfeiters in an effort to curtail illegal sales, the source said on condition of anonymity.
Novo Nordisk is the sole patent holder of semaglutide, the active ingredient in both Wegovy and Novo's diabetes drug Ozempic, which are not yet approved for sale in India. A spokesman for Novo India did not respond to multiple requests seeking comment.
"Dozens of such listings have been removed from the platform after Novo reached out to IndiaMART saying the sellers do not hold the trademark for Wegovy," the source said without providing a specific number.
Extraordinary demand for Novo's weight-loss drugs has been fueling a global surge in counterfeit versions.
Novo's global spokesperson said the drugmaker regularly looks for suspicious or illegal online sales and "where possible" engages with these platforms on a protocol to ensure they work to prevent or respond to such illegal offers. The company did not comment on specific efforts in India.
In late September, Novo Nordisk's India Managing Director Vikrant Shrotriya told Reuters the illegal sellers were "difficult to trace."
IndiaMART, one of India's top online marketplaces, allows dealers to sell on its website after a nominal background check and says it has minimal control over what is advertised and sold.
A leading U.S. government agency named IndiaMART on its 'Notorious Markets' list for 2022, highlighting how counterfeit goods on the marketplace remained "a serious concern".
A Reuters review found dozens of listings featuring Wegovy, Ozempic and claims of copies of semaglutide by a Bangladesh-based firm on IndiaMART between September and November. While it has taken many of them down, some remain on the website.
ROOM FOR IMPORT
Novo introduced Wegovy in the U.S. in 2021 and has since launched the drug in several European markets, but has struggled to meet soaring demand fueled by a global obesity crisis. The once-weekly injection has been shown in clinical trials to help a patient lose up to 15% of their body weight.
Wegovy, Ozempic and Eli Lilly's LLY.N Mounjaro and Zepbound belong to a class of therapies known as GLP-1 receptor agonists originally developed to control blood sugar in patients with type 2 diabetes. But they also slow digestion, helping patients feel full longer.
Indian law allows drugs approved in foreign countries to be imported and sold in the country after obtaining an import license from the drug regulator by the original drug manufacturer's partner in India.
Novo aims to officially launch Wegovy in India in 2026 after securing regulatory approvals, Shrotriya has said.
Certain provisions of the law also allow drugs that have not been formally approved by the Indian drug regulator to be imported for individual use, provided patients make an appeal with valid prescriptions and proof of identity.
India's Central Drugs Standard Control Organization did not respond to Reuters' requests seeking comment.
A box of legally imported Wegovy containing three injection pens costs around 1200 euros ($1,309) including shipping charges, according to Indian Pharma Network, a New Delhi-based private firm that helps with importing medicines.
On IndiaMART, a box containing four pens claiming to be Wegovy is being sold for 18,000 Indian rupees ($216.50) and higher.
Much like in the U.S. and elsewhere, Wegovy and Ozempic have made their way into India's elite social circles and among celebrities. Many well-heeled Indians procure the drug through local suppliers or friends visiting from foreign cities, doctors and fitness experts have told local media.
"Such products automatically make it to gray market sale. There's a craze for Wegovy among people after much hype from celebrities," a Hyderabad-based bariatric surgeon said on condition of anonymity. "Only India's affluent can afford to use it given the high price."
($1 = 83.1400 Indian rupees)
($1 = 0.9164 euros)
Suspected fake Ozempic causes hypoglycemia in 11 in Lebanon nL1N3CT376
FOCUS-Demand for weight-loss drugs fuels global rise in counterfeits nL1N3BQ1BJ
US FDA warns online vendors to stop selling unapproved weight-loss drugs nL1N3BG2C6
Eli Lilly sues over US sales of bogus Mounjaro for weight loss nL1N3AV32A
Belgium seizes fake weight-loss drugs containing insulin nL1N3C0211
Intercept fake Ozempic, German drug regulator tells pharmacies, distributors nL1N3BH20W
(Reporting by Rishika Sadam in Hyderabad; Additional reporting by Maggie Fick in London; Editing by Michele Gershberg, Dhanya Skariachan and Bill Berkrot)
(([email protected];))
REUTERS NEWS SCHEDULE AT 10:00 p.m. GMT/6:00 a.m. SGT
Here are the top stories and upcoming coverage plans for Reuters text service as of 10:00 p.m. GMT/6:00 a.m. SGT. For a full schedule of news and events, go to our editorial calendar on Reuters Connect.
TOP STORIES
GLOBAL
ISRAEL-PALESTINIANS/
US envoy hints at disagreement with Israel over timing to scale down war
CAIRO/GAZA, Dec 15 (Reuters) - The United States hinted on Friday at disagreement with Israel over how quickly to scale down the war in Gaza, with President Joe Biden's national security adviser saying such timing was now the subject of "intensive discussion" between the allies.
EU-SUMMIT/UKRAINE-ORBAN
EU vows Ukraine to get aid despite veto by Hungary's Orban
BRUSSELS, Dec 15 (Reuters) - European Union leaders expressed confidence on Friday that they would clear a large package of aid for Ukraine early in 2024, despite a veto by Hungarian Prime Minister Viktor Orban.
U.S.
USA-TRUMP/NEW YORK
Trump appeals gag order in NY civil fraud case to state's highest court
NEW YORK, Dec 15 (Reuters) - Donald Trump on Friday appealed a gag order restricting the former U.S. president from publicly talking about court staff in his New York civil fraud trial to the state's highest court.
USA-TRUMP/GIULIANI
Verdict reached on damages in Giuliani's trial for defaming Georgia election workers
WASHINGTON, Dec 15 (Reuters) - A jury has reached a verdict in Rudy Giuliani's civil trial for defaming two former Georgia election workers he falsely accused of helping rig the 2020 U.S. presidential election against Donald Trump, a court official said on Friday.
BUSINESS
ISRAEL-PALESTINIANS/MAERSK-RED SEA
Maersk to pause all container ship traffic through the Red Sea
HELSINKI, Dec 15 (Reuters) - Danish shipping company A.P. Moller-Maersk will pause all container shipments through the Red Sea until further notice, a spokesperson for the company told Reuters on Friday.
MODERNA-MANUFACTURING/FDA
US FDA finds control lapses at Moderna manufacturing plant
Dec 15 (Reuters) - U.S. drug regulators in September found quality control lapses at Moderna’s main factory including with equipment used to manufacture drug substance for its COVID-19 vaccine, according to the report obtained by Reuters via a Freedom of Information Act request.
ENTERTAINMENT
USA-CAMBODIA/ARTIFACTS
New York's Met museum returns Southeast Asian artifacts tied to looting
Dec 15 (Reuters) - The Metropolitan Museum of Art in New York City said on Friday that it would return 14 sculptures to Cambodia and two to Thailand that were associated with an art dealer who was charged with trafficking looted antiquities in 2019.
FRANCE-DEPARDIEU/
France to review actor Depardieu's Legion d'Honneur medal following allegations
PARIS, Dec 15 (Reuters) - French actor Gerard Depardieu's Legion d'Honneur medal is under review following a string of allegations about sexual aggression and a TV documentary in which he was heard making lewd comments about women.
SPORTS
SOCCER-CLUB-ALY-ITT/REPORT
Soccer-Al Ahly thrash Al-Ittihad in Club World Cup to book Fluminense semi-final
JEDDAH, Dec 15 (Reuters) - Egypt's Al Ahly cruised to a 3-1 win over Al-Ittihad on Friday to book a place in the Club World Cup semi-finals after Karim Benzema missed a penalty before scoring for the Saudi side.
SOCCER-NATIONS/
Squad size at next Africa Cup of Nations finals will be 27 per team
CAIRO, Dec 15 (Reuters) - Teams at next month's Africa Cup of Nations finals will be able to select 27 players for the tournament in the Ivory Coast, the Confederation of African Football said on Friday.
UPCOMING
BUSINESS / ECONOMICS
DARDEN-RESULTS/
Darden Restaurants Inc Q2 2024 Earnings
Olive Garden parent Darden Restaurants is expected to post a rise in second-quarter sales helped by resilient demand at its casual dining restaurants. Investors will look out for comments on consumer demand, changes in pricing expectations, impact of commodity and labor costs.
15 Dec 07:00 ET / 12:00 GMT
ADANI-INDIA/DHARAVI SLUM
India's opposition parties protest Adani's slum redevelopment plan
Uddhav Thackeray, former chief minister of Maharashtra will lead protest march against Adani Group along with other opposition parties, claiming that the ruling state government is favouring the conglomerate for one of Asia's largest slum redevelopment.
16 Dec 04:30 ET / 09:30 GMT
NOVO NORDISK-INDIA/WEGOVY (EXCLUSIVE)
EXCLUSIVE - IndiaMART works with Novo Nordisk to bust illegal Wegovy sales: source
Indian online marketplace IndiaMART INMR.NS has been removing unauthorized listings of Novo Nordisk's blockbuster weight-loss drug Wegovy after having talks with the Danish drugmaker in early October, a source familiar with the matter told Reuters. The drugmaker's India legal team held discussions with IndiaMART's top executives to develop a "framework" by which it could regularly alert the online marketplace about listings by counterfeiters and thereby tackle illegal sales, the source said on condition of anonymity. Novo is the sole patent holder for the active ingredient called semaglutide in Wegovy and diabetes drug Ozempic, which are not yet approved for sale in India. (By Rishika Sadam)
18 Dec 20:00 ET / 01:00 GMT
USA-OIL/EIA
POLL- U.S. crude, products inventories, weekly data released by the EIA and API
A preliminary poll on analyst expectations for weekly crude and oil product inventory data released by the U.S. Energy Information Administration and the American Petroleum Institute. The releases are among the biggest fixtures in the weekly calendar for the energy industry and both have the potential to move global crude markets. The EIA data is released on Wednesday, and the API on Tuesday. If there is a holiday in the week prior to the release, the data is delayed by a day. The EIA is part of the U.S. Department of Energy. The API is a trade group.
18 Dec
POLITICS / INTERNATIONAL AFFAIRS
BANGLADESH-ELECTION/OPPOSITION
Bangladesh opposition leaders hold Victory Day rally in Dhaka
Main opposition Bangladesh Nationalist Party (BNP) will hold a rally on Saturday to mark Bangladesh's Victory Day. Many leaders and activists of BNP who are in hiding since Oct. 28, the day a police officer was killed and hundreds were injured during an anti-government protest, are expected to join the Victory Day rally.
16 Dec
MADAGASCAR-POLITICS/ (PIX)
Madagascar's Rajeolina sworn in for a third term
Madagascar's president Andry Rajoelina will be sworn in for a third term after winning the Nov. 16 election.
16 Dec
Here are the top stories and upcoming coverage plans for Reuters text service as of 10:00 p.m. GMT/6:00 a.m. SGT. For a full schedule of news and events, go to our editorial calendar on Reuters Connect.
TOP STORIES
GLOBAL
ISRAEL-PALESTINIANS/
US envoy hints at disagreement with Israel over timing to scale down war
CAIRO/GAZA, Dec 15 (Reuters) - The United States hinted on Friday at disagreement with Israel over how quickly to scale down the war in Gaza, with President Joe Biden's national security adviser saying such timing was now the subject of "intensive discussion" between the allies.
EU-SUMMIT/UKRAINE-ORBAN
EU vows Ukraine to get aid despite veto by Hungary's Orban
BRUSSELS, Dec 15 (Reuters) - European Union leaders expressed confidence on Friday that they would clear a large package of aid for Ukraine early in 2024, despite a veto by Hungarian Prime Minister Viktor Orban.
U.S.
USA-TRUMP/NEW YORK
Trump appeals gag order in NY civil fraud case to state's highest court
NEW YORK, Dec 15 (Reuters) - Donald Trump on Friday appealed a gag order restricting the former U.S. president from publicly talking about court staff in his New York civil fraud trial to the state's highest court.
USA-TRUMP/GIULIANI
Verdict reached on damages in Giuliani's trial for defaming Georgia election workers
WASHINGTON, Dec 15 (Reuters) - A jury has reached a verdict in Rudy Giuliani's civil trial for defaming two former Georgia election workers he falsely accused of helping rig the 2020 U.S. presidential election against Donald Trump, a court official said on Friday.
BUSINESS
ISRAEL-PALESTINIANS/MAERSK-RED SEA
Maersk to pause all container ship traffic through the Red Sea
HELSINKI, Dec 15 (Reuters) - Danish shipping company A.P. Moller-Maersk will pause all container shipments through the Red Sea until further notice, a spokesperson for the company told Reuters on Friday.
MODERNA-MANUFACTURING/FDA
US FDA finds control lapses at Moderna manufacturing plant
Dec 15 (Reuters) - U.S. drug regulators in September found quality control lapses at Moderna’s main factory including with equipment used to manufacture drug substance for its COVID-19 vaccine, according to the report obtained by Reuters via a Freedom of Information Act request.
ENTERTAINMENT
USA-CAMBODIA/ARTIFACTS
New York's Met museum returns Southeast Asian artifacts tied to looting
Dec 15 (Reuters) - The Metropolitan Museum of Art in New York City said on Friday that it would return 14 sculptures to Cambodia and two to Thailand that were associated with an art dealer who was charged with trafficking looted antiquities in 2019.
FRANCE-DEPARDIEU/
France to review actor Depardieu's Legion d'Honneur medal following allegations
PARIS, Dec 15 (Reuters) - French actor Gerard Depardieu's Legion d'Honneur medal is under review following a string of allegations about sexual aggression and a TV documentary in which he was heard making lewd comments about women.
SPORTS
SOCCER-CLUB-ALY-ITT/REPORT
Soccer-Al Ahly thrash Al-Ittihad in Club World Cup to book Fluminense semi-final
JEDDAH, Dec 15 (Reuters) - Egypt's Al Ahly cruised to a 3-1 win over Al-Ittihad on Friday to book a place in the Club World Cup semi-finals after Karim Benzema missed a penalty before scoring for the Saudi side.
SOCCER-NATIONS/
Squad size at next Africa Cup of Nations finals will be 27 per team
CAIRO, Dec 15 (Reuters) - Teams at next month's Africa Cup of Nations finals will be able to select 27 players for the tournament in the Ivory Coast, the Confederation of African Football said on Friday.
UPCOMING
BUSINESS / ECONOMICS
DARDEN-RESULTS/
Darden Restaurants Inc Q2 2024 Earnings
Olive Garden parent Darden Restaurants is expected to post a rise in second-quarter sales helped by resilient demand at its casual dining restaurants. Investors will look out for comments on consumer demand, changes in pricing expectations, impact of commodity and labor costs.
15 Dec 07:00 ET / 12:00 GMT
ADANI-INDIA/DHARAVI SLUM
India's opposition parties protest Adani's slum redevelopment plan
Uddhav Thackeray, former chief minister of Maharashtra will lead protest march against Adani Group along with other opposition parties, claiming that the ruling state government is favouring the conglomerate for one of Asia's largest slum redevelopment.
16 Dec 04:30 ET / 09:30 GMT
NOVO NORDISK-INDIA/WEGOVY (EXCLUSIVE)
EXCLUSIVE - IndiaMART works with Novo Nordisk to bust illegal Wegovy sales: source
Indian online marketplace IndiaMART INMR.NS has been removing unauthorized listings of Novo Nordisk's blockbuster weight-loss drug Wegovy after having talks with the Danish drugmaker in early October, a source familiar with the matter told Reuters. The drugmaker's India legal team held discussions with IndiaMART's top executives to develop a "framework" by which it could regularly alert the online marketplace about listings by counterfeiters and thereby tackle illegal sales, the source said on condition of anonymity. Novo is the sole patent holder for the active ingredient called semaglutide in Wegovy and diabetes drug Ozempic, which are not yet approved for sale in India. (By Rishika Sadam)
18 Dec 20:00 ET / 01:00 GMT
USA-OIL/EIA
POLL- U.S. crude, products inventories, weekly data released by the EIA and API
A preliminary poll on analyst expectations for weekly crude and oil product inventory data released by the U.S. Energy Information Administration and the American Petroleum Institute. The releases are among the biggest fixtures in the weekly calendar for the energy industry and both have the potential to move global crude markets. The EIA data is released on Wednesday, and the API on Tuesday. If there is a holiday in the week prior to the release, the data is delayed by a day. The EIA is part of the U.S. Department of Energy. The API is a trade group.
18 Dec
POLITICS / INTERNATIONAL AFFAIRS
BANGLADESH-ELECTION/OPPOSITION
Bangladesh opposition leaders hold Victory Day rally in Dhaka
Main opposition Bangladesh Nationalist Party (BNP) will hold a rally on Saturday to mark Bangladesh's Victory Day. Many leaders and activists of BNP who are in hiding since Oct. 28, the day a police officer was killed and hundreds were injured during an anti-government protest, are expected to join the Victory Day rally.
16 Dec
MADAGASCAR-POLITICS/ (PIX)
Madagascar's Rajeolina sworn in for a third term
Madagascar's president Andry Rajoelina will be sworn in for a third term after winning the Nov. 16 election.
16 Dec
Indiamart Intermesh To Invest 80 Mln Rupees In Mobisy Technologies
Dec 6 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
ENTERED INTO AGREEMENT TO INVEST 80 MILLION RUPEES IN MOBISY TECHNOLOGIES
Source text for Eikon: ID:nNSE1YdYYQ
Further company coverage: INMR.NS
(([email protected];))
Dec 6 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
ENTERED INTO AGREEMENT TO INVEST 80 MILLION RUPEES IN MOBISY TECHNOLOGIES
Source text for Eikon: ID:nNSE1YdYYQ
Further company coverage: INMR.NS
(([email protected];))
India's Indiamart Intermesh Sept-Quarter Consol Net Profit Rises
Oct 27 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
INDIA'S INDIAMART INTERMESH SEPT-QUARTER CONSOL NET PROFIT 694 MILLION RUPEES VERSUS PROFIT 684 MILLION RUPEES
INDIAMART INTERMESH SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 2.95 BILLION RUPEES VERSUS 2.41 BILLION RUPEES
Source text for Eikon: ID:nBSE22p9WW
Further company coverage: INMR.NS
(([email protected];))
Oct 27 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
INDIA'S INDIAMART INTERMESH SEPT-QUARTER CONSOL NET PROFIT 694 MILLION RUPEES VERSUS PROFIT 684 MILLION RUPEES
INDIAMART INTERMESH SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 2.95 BILLION RUPEES VERSUS 2.41 BILLION RUPEES
Source text for Eikon: ID:nBSE22p9WW
Further company coverage: INMR.NS
(([email protected];))
Indiamart Intermesh hits 18-month high on earnings boost
** Shares of Indiamart Intermesh INMR.NS rises as much as 8.50% to an 18-month high of 3,146.95 rupees
** Uptick after company's June quarter net profit doubled Y/Y; revenue from operations jumps 26%
** INMR also approves share buyback worth up to 5 bln rupees at 4,000 rupees apiece
** Stock most active in 18 months, with trading volume of 1.48 mln shares as of 10:37 a.m. IST, ~7 times the 30-day avg - Refinitiv data
** Of the 16 analysts tracking INMR, seven maintain "strong buy", five suggest "buy", one recommends "hold", two retain "sell" and one maintains "strong sell"; median TP is 3,075 rupees
** Stock up 45% in 2023 vs 9% rise in Nifty 50 .NSEI
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463))
** Shares of Indiamart Intermesh INMR.NS rises as much as 8.50% to an 18-month high of 3,146.95 rupees
** Uptick after company's June quarter net profit doubled Y/Y; revenue from operations jumps 26%
** INMR also approves share buyback worth up to 5 bln rupees at 4,000 rupees apiece
** Stock most active in 18 months, with trading volume of 1.48 mln shares as of 10:37 a.m. IST, ~7 times the 30-day avg - Refinitiv data
** Of the 16 analysts tracking INMR, seven maintain "strong buy", five suggest "buy", one recommends "hold", two retain "sell" and one maintains "strong sell"; median TP is 3,075 rupees
** Stock up 45% in 2023 vs 9% rise in Nifty 50 .NSEI
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463))
India's Indiamart Intermesh June-Quarter Net Profit Rises
July 20 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
JUNE-QUARTER NET PROFIT 953 MILLION RUPEES VERSUS PROFIT 489 MILLION RUPEES
JUNE-QUARTER REVENUE FROM OPERATIONS 2.68 BILLION RUPEES VERSUS 2.13 BILLION RUPEES
Source text for Eikon: ID:nBSE4H90Dd
Further company coverage: INMR.NS
(([email protected];))
July 20 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
JUNE-QUARTER NET PROFIT 953 MILLION RUPEES VERSUS PROFIT 489 MILLION RUPEES
JUNE-QUARTER REVENUE FROM OPERATIONS 2.68 BILLION RUPEES VERSUS 2.13 BILLION RUPEES
Source text for Eikon: ID:nBSE4H90Dd
Further company coverage: INMR.NS
(([email protected];))
Indiamart Intermesh To Consider Proposal For Buyback Of Shares
July 17 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
TO CONSIDER PROPOSAL FOR BUYBACK OF SHARES
Source text for Eikon: [ID:]
Further company coverage: INMR.NS
(([email protected];))
July 17 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
TO CONSIDER PROPOSAL FOR BUYBACK OF SHARES
Source text for Eikon: [ID:]
Further company coverage: INMR.NS
(([email protected];))
IndiaMART InterMESH March-Quarter Consol Net Profit Falls
April 28 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
FINAL DIVIDEND 20 RUPEES PER SHARE
INDIAMART INTERMESH MARCH-QUARTER CONSOL NET PROFIT 558 MILLION RUPEES VERSUS PROFIT 574 MILLION RUPEES
INDIAMART INTERMESH MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 2.69 BILLION RUPEES VERSUS 2.01 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: INMR.NS
(([email protected];))
April 28 (Reuters) - Indiamart Intermesh Ltd INMR.NS:
FINAL DIVIDEND 20 RUPEES PER SHARE
INDIAMART INTERMESH MARCH-QUARTER CONSOL NET PROFIT 558 MILLION RUPEES VERSUS PROFIT 574 MILLION RUPEES
INDIAMART INTERMESH MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 2.69 BILLION RUPEES VERSUS 2.01 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: INMR.NS
(([email protected];))
Indiamart Intermesh rises on plans to consider bonus share issue
** Shares of Indiamart Intermesh Ltd INMR.NS rise as much as 3.72%, the biggest intraday gain in nearly two weeks, to 5,398 rupees
** Uptick comes after the company that provides online business-to-business marketplace services says it will consider bonus share issue at its board meeting on April 28 nFWN36S0I4
** Trading volume is 149,271 shares as of 3:18 p.m. IST, 1.4x the 30-day avg. of 108,762 shares - Refinitiv data
** Of the 14 analysts tracking INMR, 12 maintain "buy", one suggests "sell" and one recommends "hold"; median TP is 5,545 rupees
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463))
** Shares of Indiamart Intermesh Ltd INMR.NS rise as much as 3.72%, the biggest intraday gain in nearly two weeks, to 5,398 rupees
** Uptick comes after the company that provides online business-to-business marketplace services says it will consider bonus share issue at its board meeting on April 28 nFWN36S0I4
** Trading volume is 149,271 shares as of 3:18 p.m. IST, 1.4x the 30-day avg. of 108,762 shares - Refinitiv data
** Of the 14 analysts tracking INMR, 12 maintain "buy", one suggests "sell" and one recommends "hold"; median TP is 5,545 rupees
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463))
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What does Indiamart Intermesh do?
IndiaMart InterMesh Limited, founded in 1999, operates as India's biggest online B2B marketplace. It connects business buyers with suppliers, offering a platform to discover and engage with various products and services.
Who are the competitors of Indiamart Intermesh?
Indiamart Intermesh major competitors are Just Dial, CarTrade Tech, RattanIndia Ent, MSTC, Landmark Cars, Matrimony.Com, Competent Auto. Market Cap of Indiamart Intermesh is ₹14,177 Crs. While the median market cap of its peers are ₹3,887 Crs.
Is Indiamart Intermesh financially stable compared to its competitors?
Indiamart Intermesh seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does Indiamart Intermesh pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Indiamart Intermesh latest dividend payout ratio is 35.9% and 3yr average dividend payout ratio is 19.83%
How has Indiamart Intermesh allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Cash & Short Term Investments, Capital Work in Progress, Inventory, Accounts Receivable, Short Term Loans & Advances
How strong is Indiamart Intermesh balance sheet?
Balance sheet of Indiamart Intermesh is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of Indiamart Intermesh improving?
Yes, profit is increasing. The profit of Indiamart Intermesh is ₹600 Crs for TTM, ₹334 Crs for Mar 2024 and ₹284 Crs for Mar 2023.
Is the debt of Indiamart Intermesh increasing or decreasing?
Yes, The net debt of Indiamart Intermesh is increasing. Latest net debt of Indiamart Intermesh is -₹84.4 Crs as of Mar-25. This is greater than Mar-24 when it was -₹183.9 Crs.
Is Indiamart Intermesh stock expensive?
Indiamart Intermesh is not expensive. Latest PE of Indiamart Intermesh is 25.98, while 3 year average PE is 56.29. Also latest EV/EBITDA of Indiamart Intermesh is 27.2 while 3yr average is 53.8.
Has the share price of Indiamart Intermesh grown faster than its competition?
Indiamart Intermesh has given lower returns compared to its competitors. Indiamart Intermesh has grown at ~-8.03% over the last 2yrs while peers have grown at a median rate of 14.72%
Is the promoter bullish about Indiamart Intermesh?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Indiamart Intermesh is 49.17% and last quarter promoter holding is 49.17%.
Are mutual funds buying/selling Indiamart Intermesh?
The mutual fund holding of Indiamart Intermesh is increasing. The current mutual fund holding in Indiamart Intermesh is 13.64% while previous quarter holding is 11.97%.