Stocks that were in focus include names like Indian Bank, which fell 1.33%, Sun Pharma, which jumped 1.5%, and Hindustan Zinc, whose shares rose 4% on Wednesday.
As Delhi's Lok Sabha election nears, the BJP aims to maintain its clean sweep, while the AAP and Congress alliance seeks to make gains. AAP and Congress are contesting together in Delhi and other states. AAP faces legal challenges, with leaders like Arvind Kejriwal arrested but granted bail. The campaign faced a setback with the Swati Maliwal assault case, adding to the contest's intensity. The BJP is determined to replicate its 2019 success, setting the stage for a closely watched election in Delhi.
Nikki Haley announced she will vote for Donald Trump over Joe Biden in the upcoming election, citing Trump's stance on holding enemies accountable, securing the border, and supporting capitalism and freedom. While acknowledging Trump's imperfections, she criticized Biden's presidency as a "catastrophe." Haley, who suspended her own presidential campaign earlier, continues to hold influence in the GOP, receiving significant support in recent primaries. Trump dismissed her support base, claiming they will ultimately back him. Читать дальше...
Shares of global miner BHP Group fell more than 3%, a day after smaller rival Anglo American rejected its third takeover proposal and agreed to a one-week extension for the deadline to make a binding offer.
Ether continued to hover near Tuesday's more than two-month peak amid speculation over the potential approval of U.S. spot exchange-traded funds that would track the world's second-biggest cryptocurrency.
Brent crude futures fell 27 cents, or 0.3%, to $81.63 a barrel at 0004 GMT. U.S. West Texas Intermediate crude (WTI) futures were down 35 cents, or 0.5%, at $77.14.
Investors had focused on whether Nvidia's first-quarter results could meet sky-high expectations and whether the outsized rally in artificial intelligence-related stocks could be sustained.
The US Justice Department last November charged Indian citizen Nikhil Gupta with plotting to assassinate a Sikh separatist leader on US soil.
US National Security Advisor Jake Sullivan expressed concerns about China's support to Russia's defense industry, emphasizing the Biden administration's concerted efforts with allies to address this issue. Responding to the UK Defence Minister's claim that China is providing lethal aid to Russia, Sullivan clarified that the US has not observed direct weapon transfers but is worried about China's contributions to Russia's defense production. British Defence Minister Grant Shapps accused China of supplying combat equipment to Russia... Читать дальше...
Focusing on inside talent comes at a time when it has been dealing with exodus of senior leaders. This also comes after a period when Delaporte hired a lot of foreign citizens and expats at high salaries.
Happy Thursday! Wipro CEO Srinivas Pallia is betting on internal talent to propel Wipro’s growth trajectory. This and more in today’s ETtech Morning Dispatch.
Generative AI (GenAI) could save Indian workers 51 million hours weekly by 2026, according to Pearson's "Reclaim the Clock" study. GenAI boosts productivity by handling routine tasks, reducing burnout. The top five tasks with the most hours saved in India include promoting products, collecting consumer data, developing marketing materials, identifying opportunities, and explaining technical details. Other significant tasks include maintaining expertise, operational records, and ensuring accuracy. Читать дальше...
About 75 lakh shares worth 303.81 crore were sold at 405.08 apiece and were bought by 8 funds at 405-405.1. Axis MF, Massachusetts Institute of Technology and Fidelity Funds' India Focus Fund were the top buyers.
The Taliban has welcomed India's 10-year management rights over Iran's Chabahar Port, viewing it as an alternative to Pakistan's Karachi Port. They support the port's expansion, which they believe will enhance economic stability and benefit Afghanistan. The Afghanistan-India trade in 2023 reached $773 million. The Afghanistan Chamber of Industries and Mines sees increased investment in Chabahar as beneficial for regional trade. A special zone for Afghan traders at Chabahar Port further facilitates export and import activities.
"Investors would now focus on Nivida earnings, US Fed meeting minutes, and UK inflation which will be released late today. Overall, we expect positive sentiments to continue in the market," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
Grasim Ltd, part of the Aditya Birla Group, reported 39% growth in its consolidated net profit (excluding exceptional item) at Rs 1,908 crore for the quarter ended March 2024.
The shortfall of funds has pushed up the weighted average call rate (WACR), which represents banks' overnight cost of borrowing and functions as a determinant of other borrowing costs in the economy too. On Wednesday, the WACR closed at 6.75%, the same rate as the RBI's Marginal Standing Facility (MSF).
Single-walled carbon nanotubes (SWCNTs), which Bengaluru-based NoPo makes, have applications of a wide range, from EV battery manufacturing, where the material can improve energy density, to design of semiconductors.
The government requested Tower Semiconductor to revise its proposal for a chip fab unit. The government seeks the Israeli company to collaborate with a technology partner boasting superior chip-making capabilities and the ability to manufacture using more advanced processes.
Mumbai-based angel investment firm Finvolve will look to back about 25-35 sector-agnostic startups with a minimum investment of Rs 25 lakh.
This is the second time the Burman family, the largest shareholders of Religare, has accused Saluja of insider trading violations. In September, the Burmans accused Saluja of insider trading ahead of the open offer announcement.
While operating profit of the flagship company of the Aditya Birla Group jumped by a little over a fourth to ₹6,196 crore during the quarter, also an all-time high, the net profit remained flat on year at ₹1,370 crore. Adjusted for an exceptional item charge of ₹538 crore, the bottomline rose by two-fifths on year.
