Nvidia shares rise as sales hit from China export curbs not as bad as feared
Nvidia surpassed sales expectations due to AI chip stockpiling before new U.S. export restrictions to China. However, these restrictions are projected to cut $8 billion from the current quarter’s sales, leading to a lower-than-expected forecast.
Sebi bans former IndusInd executives over insider trading allegations
Sebi has barred former IndusInd Bank executives, including the CEO, from trading due to alleged insider trading. They are accused of trading on information about accounting discrepancies before public disclosure. The regulator impounded ₹19.8 crore, representing gains avoided by selling shares before the price drop following the disclosure of a ₹1,529 crore discrepancy.
US stock futures jump, dollar gains on tariff ruling
American stock futures saw a rise. The dollar’s value increased after a US court blocked Donald Trump’s global tariffs. The court considered the tariffs illegal. Nvidia Corp’s strong earnings also boosted market confidence. Contracts for the S&P 500 and Nasdaq 100 experienced gains. However, the Trump administration can appeal the ruling in federal court. Oil […]
Lokpal clears Buch of conflict of interest allegations based on Hindenburg report
The Lokpal dismissed complaints against former Sebi chairperson Madhabi Puri Buch, which were based on a Hindenburg Research report, citing a lack of verifiable material. Allegations of impropriety and conflict of interest, including investments in offshore funds linked to Vinod Adani, were deemed untenable and unsubstantiated. The Lokpal emphasized that Buch had redeemed the investments […]
US Federal Reserve flags inflation, unemployment risks
US Federal Reserve officials anticipated potential economic challenges. Rising inflation and unemployment were concerns discussed in their last meeting. Staff projections indicated increased recession risks. These risks were tied to proposed tariffs. The Fed decided to hold steady the benchmark policy rate. The central bank awaits clarity on the Trump administration’s tariff plans.
LIC shares surge 8% on strong guidance and VNB margin growth
Life Insurance Corporation shares surged almost 8% on Wednesday, marking the highest single-day gain since December 2023, fueled by strong guidance and renewed investor confidence. Analysts attribute the surge to improved Value of New Business margins and management’s optimistic growth outlook. Despite past underperformance compared to peers, attractive valuations and regulatory adjustments suggest potential near-term […]
Banking and IT show muted growth, pharma thrives in March quarter results
March quarter results reveal mixed performance across sectors. Banking and IT experienced muted profit growth, while pharma demonstrated strong revenue and profit increases. Automobiles saw sales volume gains but margin pressures. Cement benefited from rural demand, but overall margins slightly decreased. Consumer sector showed growth, but short-term profitability is expected to remain subdued.