US stocks: Nasdaq ends down as chipmakers fall and bank earnings roll in
In a recent trading session, the Nasdaq index took a hit as chip stocks continued their downward spiral, amid diverging results from major banks like Citigroup and Goldman Sachs. The PHLX chip index faced a substantial decline, sparking fears surrounding competition in this sector. Despite the turbulence, analysts express optimism about future earnings linked to […]
US chip stocks slide as China’s CXMT advances; AI spending fears rattle investors
Shares in US chip manufacturers tumbled, primarily influenced by memory and data storage firms, following competitive moves from China’s CXMT. The sector faced significant pressure, stemming from concerns over escalating rivalry and demands for AI investments. Key players like Micron Technology, Seagate Technology, SanDisk, and Western Digital saw notable declines in their stock prices.
NY Fed President Williams sees no need for a rate hike in 2027
At a recent conference, John Williams from the Federal Reserve Bank of New York expressed optimism about a potential interest-rate increase this year, suggesting inflation could hit the 2% goal by next year. He cited the role of artificial intelligence in affecting inflation rates while also addressing the sector’s supply-demand imbalance.
RBL Bank shares plunge 8% despite 170% jump in Q2 profit. Should you buy, sell or hold?
RBL Bank shares fell up to 8% despite a 170% year-on-year jump in Q2 FY27 net profit to Rs 481.7 crore. Strong net interest income growth and improved asset quality supported performance, while provisions rose. Nuvama raised its target price to Rs 500, citing the ENBD acquisition and FCNR deposit mobilisation, while Dolat Capital retained […]
Polycab shares tumble 5% as stock set to exit F&O segment from December 30 onwards. Here’s why
Polycab India shares dropped over 5% after the NSE announced its exclusion from the F&O segment from December 30. The move follows insolvency proceedings initiated against the company, although NCLAT has stayed the NCLT order. Existing derivative contracts will continue until their respective December expiries.
ICICI Prudential AMC shares rise 2% as Jefferies, other brokerages revise target prices after Q2 results. Should you buy?
ICICI Prudential AMC shares rose 2% after reporting a 6% YoY net profit rise to Rs 889 crore in Q2 FY27. Major brokerages including Jefferies, Emkay, and Centrum retained positive ratings with revised target prices offering up to 30% upside potential, while a Rs 30 dividend was declared.
Ircon International shares jump 7% on Rs 862 crore railway EPC contract win
Ircon International shares surged after the company secured an EPC contract worth Rs 862.46 crore from East Central Railway. The project involves track-related works, including laying and linking railway tracks and supplying materials for the third and fourth lines under the Son Nagar–Andal project.
Bandhan Bank shares jump 7% as Abu Dhabi’s IHC explores stake in promoter Bandhan Financial Services
Bandhan Bank shares jumped nearly 7% after reports that Abu Dhabi-based IHC was in early-stage discussions to acquire a promoter stake in Bandhan Financial Services, potentially giving existing investors an exit opportunity.
Oil Price Today (October 13): Crude oil falls to $105 as traders assess Russian supply, Mideast attacks. What’s next?
Brent crude futures fell 61 cents, or 1.05%, to $105 a barrel, while US West Texas Intermediate crude futures declined 92 cents, or 1.05%, to $93 a barrel. Brent settled at $106.65 a barrel on Monday, its highest level since September 15. Oil prices have surged more than 70% this year as the US war […]
IHC, First Abu Dhabi eye stake in Bandhan Bank promoter
Early investors GIC & IFC jointly hold 30% in Bandhan Financial Services (BFSL), keen to exit. PE funds tapped too to gauge strategic interest. BFSL, led by Bandhan founder Chandra Shekhar Ghosh, has been working with advisers Jefferies to find strategic investors for 25-32%.