State-owned RVNL partners with Dubai-based GBHIC to pursue infrastructure projects in the GCC region. Despite a 27% YoY drop in Q2 FY25 net profit to Rs 286.9 crore, RVNL’s share price has increased by 475% over the past two years, with a current market cap of Rs 86,830 crore.
The share allotment of Fabtech Technologies IPO is expected to be finalized soon. Investors can check their allotment status on the BSE website or the registrar's website. Fabtech Technologies aims to use the IPO proceeds for working capital, acquisition of Kelvin Air Conditioning and Ventilation Systems, and general corporate purposes. The shares are expected to list on January 10.
Tata Elxsi and CSIR-NAL have formed a strategic partnership to advance air mobility. The collaboration will utilize NAL's aeronautical expertise and Tata Elxsi's technology in electrification and AI. Their goal is to accelerate the development of UAVs and UAMs for global and Indian markets, fostering innovation and scalability in urban transportation.
Taking to the social media handle on X (formerly Twitter), BSP leader Mayawati wrote, "The general election for Delhi Assembly will be held in one phase on 5 February 2025. The announcement made by the Election Commission in this regard is welcome. BSP is fighting this election on its own strength with full preparation and strength. It is expected that the party will definitely perform well in this election."
Leo Dry Fruits and Spices debuted with a 31% premium on the BSE SME platform. The company's Rs 25-crore IPO was oversubscribed 180 times, and proceeds will fund working capital, marketing, and corporate purposes. Leo's diverse product range and significant revenue growth highlight its market potential.
Rapper Sean "Diddy" Combs, under indictment for sex trafficking and other charges, is reportedly upset over the prison attention given to fellow inmate Luigi Mangione, detained for allegedly killing United Healthcare CEO Brian Thompson. Mangione has gained support from inmates due to shared healthcare grievances.
Tata Steel shares will be under scrutiny following their Q3 update. Key highlights include a 6% YoY increase in steel production to 5.68 million tonnes, best-ever Q3 deliveries at 5.29 million tonnes, and robust domestic and international performance. Notably, new initiatives also boost revenue growth.
Sam Altman, CEO of OpenAI, is accused of sexually abusing his sister, Ann Altman, for nearly a decade. The lawsuit was filed in federal court. Ann claims the abuse started when she was 3 and continued into her adolescence. Sam Altman and his family deny the allegations. Ann is seeking damages for emotional distress.
Shares of Jagsonpal Pharmaceuticals will trade on an ex-split basis from Wednesday, following the company's plan to split its shares. The record date is January 8, 2025. This is the second stock split for the company, with a previous split in 2004. Over the past year, the stock has surged by 64%.
India's market regulator SEBI has discovered a scheme led by former stockbroker Ketan Parekh to profit from confidential trade information of Capital Group. Parekh used WhatsApp groups to share the trade details, enabling others to profit before the trades were made. SEBI has restricted those involved from trading and ordered the return of illegal profits.
Standard Glass Lining Technology's IPO, valued at Rs 1,250 crore, closes today after being oversubscribed nearly 35 times by the end of the second day. The price band is set at Rs 133-140 per share. Analysts recommend subscribing due to robust growth prospects and favorable valuations compared to peers.
A New York appeals court judge rejected US President-elect Donald Trump's request to postpone his sentencing in the hush money case. The judge declined the request after a brief hearing. Trump's attorneys had argued for a delay based on presidential immunity but were unsuccessful. The sentencing is scheduled for Friday.
Last year's U.S. financial markets were highly sensitive to economic surprises and are expected to remain volatile as Donald Trump begins his second term in 2025. Despite inflation cooling and interest rate cuts, Treasuries and stocks still react strongly to economic data.
Oil prices increased due to reduced supplies from Russia and OPEC members. Data showed a rise in U.S. job openings, indicating economic growth and higher oil demand. Oil output from OPEC fell due to maintenance in the United Arab Emirates, despite a Nigerian output hike. Analysts expect oil prices to be lower in 2025 compared to 2024.
Gold prices remained stable as higher yields and a stronger dollar influenced the market. The U.S. economy showed strength, with job openings exceeding forecasts. Investors are now focused on upcoming employment numbers and the Fed's meeting minutes for further guidance on monetary policy. China's gold reserves rose for the second consecutive month in December.
U.S. stocks fell on Tuesday following positive economic data that raised concerns about inflation slowing down the Federal Reserve's monetary policy easing. This decline was driven by unexpected job openings and increased services sector activity. Bond yields rose, affecting technology stocks. Investors are concerned about the impact of possible future tariffs.
Delhi experiences a severe cold wave with dense fog and chilly winds, reducing visibility and causing temperatures to drop significantly to a minimum of 8 degrees Celsius. Many homeless people are seeking refuge in night shelters set up by the Delhi Urban Shelter Improvement Board, while residents gather around bonfires. Air Quality Index in Delhi remains 'very poor'.
US President-elect Donald Trump warned of severe repercussions if Hamas does not release hostages before his January 20 inauguration. While addressing a conference, Trump emphasized the critical nature of the situation and hinted at potential military action. Talks for a ceasefire and hostage release are ongoing, showing some progress despite challenging negotiations.
The Biden administration expanded its list of Chinese military companies, adding Tencent and CATL, intensifying US-China economic decoupling and potential disruptions in global supply chains. This move is part of ongoing efforts to counter China’s military-civil fusion strategy, impacting key technology firms and creating heightened bilateral tensions.
More than 400 people have been rescued from the aftermath of a 6.8 magnitude earthquake in Tibet, while over 30,000 residents have been relocated. The quake caused significant destruction, with 3,609 homes damaged and at least 126 fatalities reported. Rescuers face challenges from sub-zero temperatures and numerous aftershocks.
The new funding, $6 billion in total, will mark a jump in valuation for Anthropic, a major competitor of OpenAI in the foundation model space. Anthropic was valued at around $18 billion in a fundraise led by Menlo Ventures last year.
The stock fell 6.2% to $140.14 in New York, marking the biggest single-day decline in four months. Though the Nvidia’s latest announcements gave an upbeat view of the company’s long-range prospects, there wasn’t as much near-term upside as some investors had sought. “Nvidia’s announcements today are significant, but long-tailed,” Stifel Financial Corp. said in a report.
Happy Wednesday! India’s talent drives global competitiveness as AI blurs tech and non-tech boundaries, Microsoft CEO Satya Nadella to ET in an interview. This and more in today’s ETtech Morning Dispatch.
