US stocks today: Nasdaq crashes 1,100 pts, Dow 600 pts as chip stocks slide; jobs data fuels rate hike fears
Wall Street tumbled as a strong U.S. jobs report dimmed hopes of rate cuts, triggering a sharp selloff in overheated tech and chip stocks. The Nasdaq plunged over 4%, ending a nine-week rally, while persistent Middle East tensions and rising yields further pressured investor sentiment.
Govt to tap AI for mapping supply chains and investment clusters
India’s upcoming Statistical Business Register (SBR) will leverage AI and analytics to map supply chains, identify investment clusters, and guide logistics infrastructure investments. Privacy and consent-based data sharing are central to the framework. The government emphasizes data harmonization as crucial for AI’s effectiveness, focusing on semantic interoperability across datasets.
India can regain 7% growth by FY28: Chief Economic Advisor V Anantha Nageswaran
India’s Chief Economic Advisor V Anantha Nageswaran stated the nation can achieve over 7% growth this fiscal year, driven by policy measures and structural reforms. This projection hinges on a return to pre-February 28 global conditions, as the Iran war has caused economic turmoil.
CMR Green Technologies IPO Day 3: Issue booked over 127 times on strong QIB demand; 40% GMP signals strong listing premium
CMR Green Technologies’ IPO saw a strong subscription of 127 times, with QIBs leading the demand. The issue, an offer-for-sale, garnered a grey market premium of nearly 37%, indicating a potential listing price of Rs 262. The company is India’s largest non-ferrous metal recycler, poised to benefit from sustainable manufacturing trends.
India takes big moves to attract foreign investments in bonds: How will this impact stock market?
India has unveiled significant measures to attract foreign investment, including tax exemptions on government securities and increased investment limits for overseas investors in equities. These moves aim to bolster market liquidity and stabilize the rupee amidst global volatility. However, the RBI’s cautious stance on inflation suggests potential headwinds for rate-sensitive sectors.
GQG trims Adani exposure in Rs 5,750 crore block deal, sell shares in two group stocks
GQG Partners sold stakes in Adani Enterprises and Adani Energy Solutions worth about Rs 5,750 crore through block deals, with SBI Mutual Fund acquiring the shares. The transactions are seen as portfolio rebalancing after a strong recovery in Adani Group stocks over the past year.
Oyo parent Prism Hotels receives Sebi nod for IPO
Prism Hotels, Oyo’s parent, received Sebi approval for a Rs 6,650 crore IPO. Targeting a $7–8 billion valuation, the firm will use funds for expansion and strengthening its balance sheet to support its ongoing push toward company profitability.
Quant Smallcap among 16 equity mutual funds that multiply lumpsum investments by over 2.3x in 5 years
Around 16 equity mutual funds delivered impressive returns over the last five years. These funds multiplied investors’ lumpsum investments by over 2.3 times. Motilal Oswal Midcap Fund led the pack, more than doubling initial investments. Other top performers included Bandhan Small Cap Fund and Nippon India funds. This analysis highlights significant growth opportunities in select […]
Tata Steel shares fall 3% after fire breaks out at UK’s Port Talbot plant
Tata Steel shares dropped nearly 3% after a fire at its Port Talbot plant in the UK forced a temporary halt to operations. While emergency services extinguished the blaze, the extent of operational impact is still being assessed.
Titan Company shares gain 2%. Why JPMorgan, others see up to 28% upside after analyst call?
Titan shares are seeing gains as brokerages maintain a positive outlook. The company has outlined ambitious growth plans for the coming years. Key businesses like Tanishq are expected to see significant revenue and profit increases. Analysts highlight Titan’s strong market position and ability to navigate challenges. Future growth is anticipated from both jewellery and other […]