Eleven stocks including Balrampur Chini, Bandhan Bank, and GMR Airports are in F&O trade ban due to MWPL over 95% and OI data reported by Trendlyne. GNFC, HAL, Hindustan Copper, The India Cements, PEL, RBL Bank, SAIL, Vedanta included. Index traders unaffected. Ban reverses if OI falls below 80%. MWPL limits apply. Chambal Fertilizers exited.
Hunter Biden, 54, asked federal judges on Thursday to dismiss gun and tax cases against him, citing a legal argument previously made by Donald Trump. Hunter Biden was convicted in June in Delaware on federal gun charges, marking the first criminal prosecution of a sitting US president's child.
Taipei-listed shares of TSMC dropped 1.79% at Friday's market open, despite the company raising its full-year revenue forecast and reporting a market-beating net profit for Q2, with Taiwan's main index opening down 0.73%.
State-owned Bank of India raised ₹5,000 crore through 10-year bonds at 7.54% interest, with a base size of ₹2,000 crore and a greenshoe option of ₹3,000 crore. It informed exchanges of 127 bids worth ₹15,318 crore. Funds support long-term infrastructure and affordable housing per RBI guidelines, exempt from cash and Statutory Liquidity Ratios for better interest cost management.
Sanstar, the fifth-largest maize-based products manufacturer, is launching a ₹510-crore IPO to fund expansion and repay debt. With revenues and profits on the rise, investors may want to monitor post-expansion performance before investing.
Franklin India Multicap Fund NFO ends July 22, has ₹5,000 minimum investment, and 1% exit load for redemptions within a year. It allocates 25% to large, mid, and small caps, balancing 25% optimally with a QGSV framework. Themes: energy transition, financialisation of savings, and economy formalisation. Managed by Janakiraman, Kalluri, Sebastian.
InCred Asset Management, led by Bhupinder Singh, is closing the multi-cap AIF India Value Growth Fund I, returning ₹80 crore. Managed by Aditya Sood, the fund delivered 165.0% returns since September 2019. Steep valuations, increased 15-25% cash holdings ahead of Union Budget, and new investor warnings drove the decision. Market risks come from US economic conditions.
BSE Sensex hit 81,343.46, NSE Nifty 24,800.85, driven by large-cap IT stocks like Infosys, TCS, Wipro. Bank Nifty rose 0.4%, VIX gained 2.02%. Small and mid-caps saw profit-taking. Rajesh Palviya and Andrew Holland noted strong IT results. Infosys' Q1 results awaited. Union Budget on July 23 may further influence markets.
Oil prices fell on Friday, marking a second weekly decline amid mixed economic data and a stronger dollar. Brent crude dropped to $84.50, U.S. WTI to $82.10. Strong U.S. labor data boosted the dollar. China's slower growth and Japan's inflation impacted sentiment. Despite declining U.S. stockpiles, rising global stocks led to bearish trends. OPEC+ unlikely to change output cuts.
TSMC raises revenue forecast due to AI chip demand, rejects U.S. joint venture. Profits exceed expectations. Company investing in new plants globally. CEO expects tight capacity until 2026. Strong smartphone and AI demand projected for next quarter.
U.S. stocks dropped Thursday, with the Dow Jones down 1.29%. Tim Ghriskey noted a broad selloff from growth stocks, impacting Russell 2000 and Nasdaq. CBOE Volatility index rose. Jobless claims increased, aiding inflation control. Healthcare declined, energy gained. Philadelphia SE Housing index soared; D.R. Horton +10.1%, Domino's -13.6%, Warner Bros split plan, Netflix fell.
Happy Friday! The Centre is likely to go for another round of inter-ministerial consultations on the draft of the Digital Competition Bill. This and more in today’s ETtech Morning Dispatch.
Nifty50 reaches 24,800; RIL, Wipro, Infosys, Tata Technologies reveal first-quarter results. Vodafone Idea issues Rs 615 crore in equity shares. Infosys records 3.6% revenue growth, broad-based in constant currency. Tata Technologies' profit falls 15%. CIE Automotive earns Rs 217 crore. JSW Steel's results await.
Asian and US stock markets experience a decline as economic concerns outweigh optimism from interest-rate cuts. Chip stocks show signs of recovery after US-China trade tensions. Investors await updates on market trends and economic data releases.
India ranked second globally for Netflix's paid net subscriber additions and third by revenue percentage growth in the June quarter, driven by strong content such as the web series ‘Heeramandi: The Diamond Bazaar’. Netflix's paid net additions reached 8 million in the second quarter, up from 5.9 million in the same period last year. The global paid subscriber base for the streaming giant stood at 278 million.
President Joe Biden's re-election campaign holds a substantial bank account that could aid a different candidate should he exit the race. Campaign finance regulations, however, restrict how those funds could be utilized. The 81-year-old Democrat is encountering pressure to end his campaign following a poor performance in a debate against Republican challenger Donald Trump.
U.S. President Joe Biden is seriously contemplating stepping aside as the Democratic presidential candidate, according to sources familiar with the matter. This internal deliberation comes amid increasing pressure from key figures within his party after a lackluster debate performance against Republican nominee, former President Donald Trump, which has heightened concerns about Biden's age and electability in the upcoming November election.
Fibr, an AI-powered personalisation platform, raises $1.8 million in funding round led by Accel. Fibr will use the funds for enhancing its AI personalisation platform, expanding its customer base, and hiring talent including engineers, product marketers and sales and go-to-market (GTM) experts, top officials said.
According to industry executives, the consolidation is being driven by the fact that smaller companies often offer unique propositions and specialisation in niche categories. Such companies could also be acquired at attractive valuations due to the prolonged funding winter. Funding in edtech sector plunged to $319 million in 2023.
For the April-June 2024 period, the company reported a 12.78% decline in net profit to Rs 332.93 crore for Rs 381.75 crore from a year ago. On-quarter basis the profit was up 3.54% from Rs 321.52 crore posted in the March-end quarter. During the first quarter of fiscal 2025, Tata Communications’ income from operations stood at Rs 5,659.71 crore having increased 14.1% on-year comparison, but decreased 1.55% sequentially
As per sources, ONDC facilitates 60,000 orders per day in the food domain, capturing 3% of the total order volumes managed by Swiggy and Zomato across India individually who receive 20 lakh orders each. Its total order volumes touched around 4 lakh orders in a day which includes mobility bookings as well.
Senior officials from the ministry of electronics and information technology met industry executives from big tech companies, startups and some industry associations on Thursday to discuss the best possible ways to determine the correct age of under-18 users and obtain necessary verifiable parental consent, as per the provisions of the DPDP Act.
