The Bharti Hexacom IPO has been highly anticipated due to the company’s association with the well-known Airtel brand and its involvement in the telecommunications industry. The IPO received strong interest from investors, reflected in its oversubscription rate of around 30 times the initial offer. Based on expert predictions, Bharti Hexacom’s IPO is expected to list … Read more
The European Central Bank (ECB) held its key interest rate steady on Thursday, opting to wait for more evidence that the swift decline in inflation is sustainable before considering rate cuts to support the sluggish economy. The bank’s governing council stated in its post-decision announcement that most underlying inflation indicators are showing signs of improvement. … Read more
The Asian Development Bank (ADB) has revised its GDP growth forecast for India, projecting a robust 7% growth for the current fiscal year (2023-24), up from the previous estimate of 6.7%. This growth surge is attributed to strong investment from both public and private sectors, alongside a gradual uptick in consumer demand. While the forecast … Read more
In a significant legal development, the Calcutta High Court has intervened in the ongoing trademark dispute between consumer goods behemoths Hindustan Unilever Ltd (HUL) and Emami Ltd. The court’s order, issued in response to a suit filed by Emami, restrains HUL from utilizing the ‘Glow & Handsome’ mark for its men’s care products. The directive … Read more
In a significant move reported by the Economic Times, Apple unveils plans to fortify its presence in India by ramping up its workforce to an impressive 500,000 employees over the course of three years. This ambitious initiative coincides with the company’s strategy to migrate half of its supply chain operations from China to India. Central … Read more
On April 9th, China Tianrui Group Cement Co Ltd experienced a staggering 99% decline in its share value, plummeting to around HKD0.05 (US$0.006). This drastic drop pushed the company’s market capitalization down to HKD141 million. The sell-off frenzy saw approximately 281 million shares, accounting for a third of the company’s total shares, change hands. Notably, … Read more
Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) emerged as net buyers on April 10, coinciding with the Nifty reaching an all-time high and the Sensex edging closer to a new peak. Preliminary data from the stock exchanges indicates that FIIs made purchases totaling Rs 2,778.17 crore, while DIIs acquired shares worth Rs 163.36 … Read more
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