Nilim Daimari
The trading session on Wednesday kicked off with a notable downturn on Wall Street, following the release of inflation data for March that exceeded expectations. The unexpected spike in inflation figures has cast doubt on the likelihood of near-term interest rate cuts, prompting a negative sentiment among investors. According to the much-anticipated data, US consumer … Read more
Investors witnessed a surge in wealth on Wednesday, with gains amounting to Rs 2.27 lakh crore, as the benchmark Sensex achieved a historic milestone by closing above the 75,000 mark for the first time. The 30-share BSE benchmark Sensex displayed resilience, climbing 354.45 points or 0.47 percent to settle at 75,038.15. Throughout the trading session, … Read more
In a startling development for Hong Kong’s embattled stock market, the shares of a prominent $1.9 billion listed firm nosedived by a staggering 99% within a mere 15-minute span. This unprecedented plunge struck China Tianrui Group Cement (1252.HK) as Tuesday’s trading session drew to a close, leaving analysts and investors scrambling for answers. As of … Read more
A recent report has disclosed that OpenAI, backed by Microsoft, and Meta, formerly known as Facebook, are on the verge of unveiling groundbreaking artificial intelligence (AI) models capable of advanced reasoning and planning functionalities. As per insights shared by executives from Meta, the company is gearing up to launch Llama 3 in the imminent weeks. … Read more
In a significant ruling, the Supreme Court has granted Delhi Metro Rail Corporation’s (DMRC) curative petition, instructing Reliance Infrastructure to refund Rs 8,000 crore to its subsidiary, Delhi Airport Metro Express Private Limited (DAMEPL). This decision comes after DMRC contested an arbitral award requiring payment to the Reliance Infrastructure subsidiary. The apex court deemed the … Read more
In a significant development, Godawari Power & Ispat Ltd witnessed a remarkable surge of over 7% on the morning of April 10, spurred by the announcement of the complete resumption of operations at its biomass power plant in Chhattisgarh. This resurgence comes in the wake of a recent fire incident that had temporarily disrupted operations … Read more
In the early trading session on April 10, Lupin witnessed a 1% increase following the introduction of its inaugural generic rendition of Oracea (doxycycline capsules) in the US market. At 9:32 am, Lupin’s shares were quoted at Rs 1,621.30, marking a gain of Rs 16.25, or 1.01%, on the Bombay Stock Exchange (BSE). According to … Read more
PB Fintech’s shares surged by over 5% on April 10, reaching a 52-week high of Rs 1,400.35 on the NSE, buoyed by the incorporation of a new subsidiary. In an exchange filing, the company announced the establishment of PB Pay Private Limited, a wholly-owned subsidiary, following the issuance of a certificate of incorporation by the … Read more
On April 10, Sun Pharma Advanced Research Company (SPARC) witnessed a 5% decline, hitting the lower circuit, subsequent to the company’s announcement of discontinuing its Phase 2 trial on Vodobatinib for Parkinson’s disease, a significant setback for the Mumbai-based pharmaceutical firm. The PROSEEK study, which spanned across multiple continents including the United States, Europe, and … Read more
Ramco Systems’ shares surged by 18% to Rs 335 in morning trading on April 10, following the announcement of a multi-million-dollar deal with Korean Air, the largest airline in Korea. The agreement entails providing tech support for Korean Air’s new engine maintenance complex. In a regulatory filing, Ramco Systems stated that the implementation of its … Read more
Today (April 10), Paytm witnessed a decline of almost 3% in its share price following the announcement of Surinder Chawla’s resignation as the Managing Director and Chief Executive Officer of Paytm Payments Bank. Chawla attributed personal reasons for his departure and specified that he would officially step down from his responsibilities on June 26. In … Read more
Reports indicate that Tesla is potentially seeking a domestic collaborator to initiate its operations within India. Sources familiar with the matter suggest that the American electric vehicle giant is engaging in discussions with Reliance Industries for a prospective partnership aimed at establishing a manufacturing hub in the nation. According to insiders, Tesla is exploring avenues … Read more
Gold prices have soared to new heights, setting record after record this year, despite the strength of the US dollar. The surge has been particularly pronounced over the past two months, defying conventional expectations and unnerving investors. On the Multi Commodity Exchange (MCX), gold for June 2024 expiry climbed to a new peak of ₹71,080 … Read more
Maruti Suzuki has bolstered its manufacturing capabilities at the Manesar plant with the installation of a new assembly line, capable of producing 100,000 units annually. This addition supplements the production of popular models such as the Ertiga, Brezza, XL6, Ciaz, and WagonR at the Manesar facility. Furthermore, Maruti can leverage this additional assembly line for … Read more
In a development signaling further turbulence for the embattled fintech giant Paytm, Surinder Chawla has tendered his resignation as the Chief Executive Officer of its banking arm, Paytm Payments Bank. Citing “personal reasons,” Chawla’s departure, effective from June 26, was confirmed by the company on Tuesday. However, Paytm refrained from disclosing any details regarding Chawla’s … Read more
In a proactive move to bolster pre-trade risk control measures, the Exchange has announced the implementation of the Limit Price Protection (LPP) Mechanism in the Equity Derivatives segment, effective from April 16, 2024. This change will replace the existing Price Reasonability Check (PRC). The LPP Mechanism will accept limit price orders within specified ranges determined … Read more
Aluwind Architectural, a company specializing in aluminum products, made its market debut on the NSE SME platform on April 9, listing at Rs 45. Contrary to the expectations seen in the grey market, where shares were commanding a premium of Rs 5, the listing of Aluwind Architectural witnessed a flat performance. The grey market facilitates … Read more
In a remarkable debut on the NSE SME platform, Creative Graphics Solutions commenced trading at Rs 175, marking a substantial 106% premium over its issue price of Rs 85. The stock’s strong performance outpaced expectations, with its grey market premium already at 77.65% before listing. The IPO, valued at Rs 54.40 crore, garnered exceptional interest … Read more
A sluggish recovery in lithium prices serves as a stark reminder of the rollercoaster ride experienced by the industry in recent years. Despite efforts to stabilize, prices remain subdued as key players grapple with excess supply saturating the market. While some projects have been affected by the downturn, major producers are doubling down on expansion … Read more
In the final minutes of trading on April 9, a flurry of activity gripped sugar stocks, spurred by reports from Bloomberg hinting at potential government measures to increase the diversion of sugar for ethanol production in India. Among the sugar stocks that experienced notable upward movement, Balrampur Chini Mills surged to Rs 393, marking a … Read more