Elon Musk loses nearly half of his wealth as SpaceX shares crash 46%. More downside ahead?
Musk’s wealth peaked at around $1.33 trillion on June 16, when SpaceX shares soared to a lifetime closing high of nearly $202 apiece. However, as the shares crashed, Musk’s net wealth dropped to $684 billion, Bloomberg reported. Notably, the over $600 billion wealth erosion is higher than any other billionaire’s total wealth, except Musk himself.
Clean Max Enviro Energy Solutions posts Rs 55-cr profit in Q1
CleanMax Enviro Energy Solutions achieved a net profit of Rs 55 crore in the June quarter. This profit resulted from a substantial 107 percent year-on-year revenue increase. The company’s operational asset base and RE Services segment saw significant growth. CleanMax also plans to raise Rs 2,500 crore through debenture issuance. A record 500 MW capacity […]
AI bubble gone bust? Once a billionaire, how AI investor Leopold Aschenbrenner lost most of his hedge fund’s fortune in days
Aschenbrenner’s fund, Situational Awareness, massively grew to as big as $45 billion at the beginning of July before big losses took hold, CNBC reported citing sources. The fund began to see massive losses in recent weeks as its heavyweight AI holdings like SK Hynix sharply crashed, while its short positions in software companies such as […]
Dhaval Packaging’s Rs. 36.36 crore IPO to open on July 30
Dhaval Packaging Limited will launch its initial public offering on July 30. The company plans to raise Rs. 36.36 crore through a fresh equity share issue. Proceeds will fund capacity expansion at its Sanand manufacturing facility. A portion will also be used for loan repayment and general corporate purposes. The IPO aims to list on […]
Sunil Singhania’s Abakkus portfolio: 5 stocks rally up to 105% in CY26; 2 new buys added in Q1
The analysis includes only those companies in which the investor holds more than a 1% stake and may not represent the entirety of the portfolio.
Divi’s Labs Q1 Results: Net profit rises 66% YoY to Rs 902 crore, revenue up 28%
The firm’s revenue from operations meanwhile rose around 28% YoY to Rs 3,080 crore in Q1 FY27, from Rs 2,410 crore reported in the year-ago period. Its total income increased over 24% YoY to Rs 3,144 crore, while total expenses rose more than 9% YoY to Rs 1,964 crore during the quarter which ended on […]
Chris Wood warns AI capex binge may burn billions as markets turn against Big Tech spending
Wood’s long-standing view is that the “hyperscalers will end up blowing a lot of money on their capex binge” and that AI could resemble the airline industry more than the winner-takes-all economics of the internet era.
Paused your mutual fund SIP investments? Here’s how temporary interruptions can affect your financial goals
When investors think about financial mistakes, they usually quantify them in rupees. One common mistake is pausing SIPs for a temporary period and resuming them later. Here is how pausing your SIP mutual fund investments can hurt your financial goals, as reported by ET Wealth.
Jio Financial Services sets record date for dividend. Check details
Jio Financial Services set August 10 as the record date for its final dividend. The company reported significant year-on-year profit and revenue growth in the first quarter. Interest income and fees and commission income saw substantial increases during this period. Jio Financial Services shares experienced a notable jump on Friday and over the week. Motilal […]
Bitcoin slips below $63,000 to a two-week low as weak Coinbase earnings and fading optimism weigh on sentiment
Bitcoin fell below $63,000, its lowest in two weeks, as sentiment weakened. Coinbase earnings and fading optimism about U.S. crypto legislation impacted market sentiment. Major altcoins like XRP and Solana also saw corrections, while BNB and Cardano experienced gains. Global crypto market capitalization decreased, reflecting investor caution and mixed institutional flows. Traders are monitoring macro […]