Japan’s Nikkei falls 4% as tech stocks follow Wall Street lower
Japan’s Nikkei share average plunged 4% on Wednesday, its worst session in seven months, mirroring Wall Street’s sharp overnight declines. High-flying technology stocks like SoftBank Group and Advantest led the fall, though analysts suggest it’s a reaction to recent gains rather than a market exit. Nintendo, however, jumped on an improved sales forecast.
Adani Ports Q2 net soars 29% on logistics, marine strength
Adani Ports reported a significant 29% year-on-year increase in net profit to ₹3,120 crore for the September quarter, driven by robust growth in its logistics and marine businesses. Revenue surged 30% to ₹9,167 crore, with cargo volumes rising 12% and market share reaching 28.1%.
China’s central bank returns to bond market with small purchases
China’s central bank, the People’s Bank of China, resumed its government bond purchase program in October for the first time this year, injecting 20 billion yuan to support the economy. This move aims to maintain ample liquidity and contain borrowing costs, as market conditions have improved and the yuan has strengthened against the dollar.
Asian markets pull back as stretched valuation fears jolt Wall St
Asian markets are in a tailspin, echoing the dip witnessed on Wall Street as investor hesitation grows over inflated stock prices. This market tumble is echoing alerts from top financiers about looming corrections. The current buzz around generative AI is stirring memories of the dot-com bubble. Major Asian indices, particularly in Japan, are experiencing steep […]
ChrysCapital raises $2.2 billion in largest Indian PE fund
ChrysCapital has secured a record $2.2 billion for its latest fund, ChrysCapital X. This marks a significant achievement for the Indian private equity firm. The fund saw strong participation from both global and domestic investors. ChrysCapital’s strategy focuses on key sectors like consumer, healthcare, and technology. The firm has a proven track record of delivering […]
Lenskart IPO subscribed 28.3 times on final day
Lenskart’s ₹7,278-crore IPO saw a robust subscription of 28.26 times on its final day, attracting significant investor interest despite concerns over its valuation. Anchor investors and marquee names like Radhakishan Damani boosted sentiment, leading to strong demand across all investor categories.
Bond yields soften as RBI takes stock
Reserve Bank of India officials met with primary dealers to address bond market challenges. Elevated yields and tight liquidity were key discussion points. Meanwhile, the Indian rupee saw gains, closing stronger against the dollar. This strengthening was attributed to state-run bank dollar sales and central bank intervention in offshore markets. Foreign investors continued to sell […]
SBI Q2 profit rises 10% on loan growth; and yes, it beats Street
State Bank of India reported a significant 10% year-on-year profit increase to ₹20,160 crore in the second quarter. This performance surpassed market expectations, driven by robust growth in retail, agriculture, and MSME advances. The bank also benefited from a profitable sale of its Yes Bank stake.
Adani Enterprises to raise Rs 25,000 cr via rights issue
Adani Enterprises plans to raise up to ₹25,000 crore via a rights issue to fund debt repayment and capital expenditure, primarily in its airport business. The company reported an 84% year-on-year net profit increase to ₹3,199 crore for the September quarter, boosted by an exceptional gain from a stake sale in Adani Wilmar.