IRCTC’s strong business model makes its IPO a good long-term investment

ET Intelligence Group: Longterm investors can consider subscribing to the initial public offering (IPO) of government-owned Indian Railway Catering and Tourism Corp (IRCTC). IRCTC has high cashflow, return on capital employed (over 20 per cent) and dividend payout (45 per cent in FY19). Its dominant market share in railway e-ticketing (over 70 per cent in […]

Xiaomi Promises to Cap Hardware Income Margin at 5 Percent Ahead of IPO

Chinese smartphone and smart device maker Xiaomiwill cap income from its hardware business at 5 percent of total profits starting in 2018, as it looks to position itself as an Internet services provider ahead of a highly-anticipated IPO. Xiaomi – which makes dozens of Internet-connected products including scooters, water purifiers and televisions – said in a […]

Is Mark Zuckerberg Getting Ready to Run for President? Is Mark Zuckerberg Getting Ready to Run for President? HIGHLIGHTS Zuckerberg took a new year resolution to visit all 50 US states Zuckerberg also said that he no longer considers himself an atheist Some people have started believing that he may run for President As America changes presidents, Facebook founder Mark Zuckerberg is doing something. This week, he did something in Texas: He went to his first rodeo. He wore a hard hat and a safety vest. He thanked police officers in Dallas for their hard work. He helped plant a community garden. So what, exactly, is Mark Zuckerberg doing? Well, even without a peep from the man confirming any interest in the job, some have started to believe that Zuckerberg is running for president. The reason people think that is, well, because whatever it is that Zuckerberg is doing looks a lot like what presidential hopefuls do: In this case, Zuckerberg was in Dallas to testify in a $2 billion (roughly Rs. 13,616 crores) lawsuit. The Facebook-owned Oculus VR company has been accused of corporate theft by ZeniMax – an accusation that Facebook has denied. But the chief executive managed to make the most of his trip on Facebook itself by looping it into an unrelated personal project. Zuckerberg’s New Year’s resolution this year is to make sure that he has visited each of the 50 states by the end of the year. He has been to several already, (for instance: Hawaii, where he owns a house and is suing some of his neighbours), so the resolution will mean making sure he visits about 30 additional states by December. “My work is about connecting the world and giving everyone a voice. I want to personally hear more of those voices this year,” Zuckerberg wrote in his Facebook post explaining the resolution. But that resolution wasn’t the first thing Zuckerberg that sounded a bit presidential to some. Over the holidays, Zuckerberg said he no longer considers himself an atheist and that religion is “very important” to him. He also hired David Plouffe, President Barack Obama’s former campaign chair, to work for the philanthropic organization that he and his wife, Priscilla Chan, created. Once again, it is important to emphasize that while the above sure does make you go “hmm,” Mark Zuckerberg has not said that he is running, or would like to run, for president. One other reason that Zuckerberg might want to spend 2017 meeting Americans could have to do with, you know, Facebook. This year, the company was accused of having a bias against conservative news sources and topics in its trending topics bar. That accusation had a lasting impact on Facebook’s reputation in conservative circles. And after the 2016 election, the company faced repeated interrogations from the media about its influential role in spreading fake news and hoaxes. As a result, Facebook announced changes designed to improve its ability to discourage the sharing of outright false information. Zuckerberg’s business model depends on its users believing that the platform is a newsworthy and trustworthy place where they might feel comfortable posting lots of things from their personal lives. Both perceptions have been threatened over the past year. Going out and talking to people, particularly those who have recently lost trust in the company, could be helpful PR for Zuckerberg – for reasons that have nothing to do with running for president. With someone like Zuckerberg, it can be hard to separate signs of insatiable ambition from those pointing to a specific political goal. Take this passage from Nick Bilton, who outlined the case for at least thinking about the possibility that Zuckerberg might run over at Vanity Fair: “If he does want the job, Zuckerberg definitely has the personality for it. When Facebook went public in 2012, I co-authored a profile of the young C.E.O. During the reporting, I heard from several friends about his penchant for playing world-conquering board and video games. Early childhood pals told me that one of Zuckerberg’s favorite video games as a boy was Civilization, the game in which you have to “build an empire to stand the test of time.” Others have told me that, to this day, Zuckerberg loves to play Risk, a strategy board game where you have to essentially take over the world.” Interesting. Except, my dudes, I too really love playing Civilization, and I would never want to run for president. Other things pointed to in that Vanity Fair story are more concrete – like the fact that a Facebook proxy statement from April said Zuckerberg could leave Facebook to serve in a government office but still keep control of his company. Hmm. (In a long statement about those changes in April, Zuckerberg said he was “committed to our mission and to leading Facebook there over the long term.”) Zuckerberg would be 36 by the time the 2020 election rolls around, which is one year over the minimum required age to be president (by contrast, incumbent President Donald Trump would be 74). But even if the rumors of a Zuckerberg run are true – which, again, is not something that has been confirmed in any way – Bilton says that the prevailing thought in Silicon Valley is that the still completely hypothetical Zuckerberg run for office would happen in 2024. © 2017 The Washington Post Tags: Mark Zuckerberg, Facebook, Social, Oculus, Donald Trump [“Source-Gadgets”]

Snapchat IPO Pursuit Sees US Exchanges Rent Helicopters, Drape Banners This past November, Nasdaq Inc hired a helicopter to film Manhattan’s skyline using Snapchat’s new video-camera sunglasses and sent the aerial footage to its social media followers. The New York Stock Exchange – its arch-rival – on the same day tweeted a video shot from […]

SecureWorks Raises $112 Million in Year’s First Technology IPO

Dell Inc’s cyber-security unit SecureWorks Corp raised $112 million in the first US initial public offering of a technology company in 2016, less than it had hoped for, amid investor skepticism over its profit margins and prospects. Market jitters and fluctuations in technology stocks have kept investors skittish about the sector. This time last year, […]

BSE plans to hire banks for $150 million IPO

Deutsche Bank, Motilal Oswal and SBI Capital Markets will also be hired as bookrunners. Photo: Mint Mumbai: BSE Ltd, India’s second-biggest exchange, plans to hire Axis, Edelweiss, Jefferies and Nomura as joint global coordinators for a $150 million initial public offering in India, IFR reported, citing two sources close to the transaction. Deutsche Bank, Motilal […]

Infibeam’s $80 Million IPO Fully Subscribed

Indian online retailer Infibeam Incorporation’s $80 million initial public offering (IPO) attracted thin demand from institutional investors, just selling the total number of shares on offer in the country’s first e-commerce listing. The company, which makes money through its e-commerce portal and also license technology for bricks-and-mortar chains to set up their own sales websites, […]

Infibeam Sets IPO for March 21

Online shopping portal Infibeam Incorporation will hit the capital markets on March 21 to mop-up Rs. 450 crore through an initial share plan, becoming the first e-commerce firm to tap the IPO route. The initial public offer (IPO) will conclude on March 23, as per the latest update available with capital markets regulator Securities and […]

Dorsey-Led Square Posts Strong Results in First Quarterly Report Since IPO

Mobile payments company Square Inc’s revenue beat analysts’ estimates in its first quarterly results since going public in November, easing pressure on CEO Jack Dorsey who is also leading turnaround efforts at Twitter Inc. Square’s shares rose as much as 7 percent after market on Wednesday, before giving up some of the gains. The stock […]