In the San Francisco Bay Area, traffic was snarled for hours as protestors closed down all vehicle, pedestrian and bike traffic on the Golden Gate Bridge. Protests also took place in Illinois, California, New York and the Pacific Northwest.
Exide and Amara Raja stocks soared due to increasing EV demand. Analysts foresee bright prospects for Exide with Hyundai and KIA partnership, government aid, and EV market growth. The companies are set to capitalize on the rising trend.
Vodafone Idea's ₹5,400-crore offer to anchor investors was fully subscribed, with support from various foreign institutional investors, domestic mutual funds, and the Government of India. This fundraising effort aims to strengthen the telco's financial position and support its future plans.
Rupee weakened past 83.50/$1 against the dollar due to US rate cut uncertainty, Middle East tensions, and RBI intervention. Impact of US retail sales, inflation data, and high forex reserves also contributed to the currency's performance.
Indian IT stocks decline, affecting benchmarks. Concerns over US Fed rates and IT demand recovery persist. Infosys' guidance for FY25 awaited. Market cautious pre-results, with Nifty IT Index closing below 200 EMA.
Media giant Viacom18, backed by Reliance Industries Ltd., is set to become a powerhouse in India's media and entertainment industry. With a focus on streaming and digital offerings, Viacom18 aims to compete with tech giants like YouTube and Meta Platforms Inc. The company's strategy includes offering ad-supported programming and integrating e-commerce into its platform. Led by media veteran Uday Shankar, Viacom18 is betting big on mobile streaming and digital advertising to drive growth in India's rapidly evolving media landscape.
Nishit Master predicts Nifty50 at 24000 with high single-digit returns. Post-election policy uncertainty poses a risk. Geopolitical tensions may affect energy prices and Rupee, impacting the bull rally.
Vodafone Idea plans an Rs 18,000 crore FPO on April 18, attracting GQG Partners with $300-400 million bids. Analysts cautious due to profit concerns, low listing expectations, capex needs, 5G delay, and industry challenges.
Israel Katz sent letters to 32 countries and spoke with dozens of foreign ministers and leading figures around the world calling for sanctions to be imposed on the Iranian missile project and that the Islamic Revolutionary Guard Corps be declared a terrorist organization, as a way to curb and weaken Iran.
Israel postponed a critical war cabinet meeting to decide its response to Iran's recent missile attack, with allies considering new sanctions to prevent escalation. While the attack caused minimal damage, it raised fears of broader conflict. The U.S. and European allies are working to strengthen sanctions against Iran. Israel's Foreign Minister seeks global sanctions on Iran's missile program. Iran has signaled the attack was in retaliation and considers the issue closed. Israel is weighing its response... Читать дальше...
US Trade Representative Katherine Tai highlighted the benefits of India's decision to remove retaliatory tariffs on several US products, including chickpeas, lentils, almonds, walnuts, and apples. This move has improved market access for American farmers, particularly in Michigan, Oregon, and Washington. The removal of tariffs was part of the resolution of the final outstanding WTO dispute between the two countries, which also led to reduced tariffs on products like turkey, duck, blueberries, and cranberries... Читать дальше...
Happy Ram Navami Wishes in Hindi & English: Ram Navami, a revered Hindu festival celebrating Lord Rama's birth, falls on April 17 this year. Symbolizing good's triumph over evil, it concludes Navaratri, a nine-day festival. Devotees seek blessings through prayers, Kanya Puja, and recitals from Ramcharitmanas. Wishing loved ones prosperity and joy, heartfelt messages convey the essence of this auspicious occasion in both Hindi and English.
March quarter earnings season starts with Tata Communications and ICICI Lombard set to announce. Boards to discuss dividends. High-frequency indicators point to strong demand momentum. Key focus on data gross revenue, DPS revenue, and EBITDA margins.
LightFury Games, a gaming startup launched by Karan Shroff, plans to utilise the new capital to develop AAA games in India and will initially focus on mobile gaming before expanding to other platforms, including consoles.
Happy Wednesday! The National Payments Corporation of India (NPCI) is pushing new payments apps on UPI to drive more incentives to consumers to help increase their market share. This and more in today’s ETtech Morning Dispatch.
Domestic markets shut for Ram Navami. MCX trades normally but settlement holiday affects account credits. 2024 has 14 holidays, including Muharram and Gurunanak Jayanti.
India plans Nvidia deal for GPUs under AI Mission to offer subsidised units to startups. Global trend shows China, US securing AI infrastructure with Nvidia GPUs. Indian companies seek GPUs for AI competitiveness.
USC has canceled its valedictorian speech by a Muslim student, Asna Tabassum, citing safety concerns amid tensions over the Middle East conflict. USC Provost Andrew Guzman stated the decision aimed to protect campus security, not restrict freedom of speech. Tabassum challenged this, questioning if safety was the sole reason for revoking her invitation. The decision followed heightened tensions and concerns about disruptions at the upcoming graduation ceremony. Tabassum, a biomedical engineering major... Читать дальше...
This is mainly to get users to transact through these new platforms, in order to reduce the risk from high concentration of transactions on the PhonePe and Google Pay platforms that control around 85% market share.
IT services major Tata Consultancy Services (TCS) is equipped with one of the largest and most AI-ready workforces in the world, chief executive officer K Krithivasan told employees in an email at the start of the new fiscal.
India is developing a home-built bullet train exceeding 250 kmph, using Vande Bharat platform technology by ICF, Chennai. The project integrates Indian tech and domestic manufacturing, funded by JICA with completed pier work and land acquisition for the Mumbai-Ahmedabad High Speed Rail project.
Godfrey Phillips India had said in an exchange filing on April 12 that it plans to exit the loss-making 24Seven convenience chain "following a detailed review of the company's retail business division". The negotiations will hinge on valuation, said one of the persons cited. "The (Modi) group leadership has held talks with groups which have obvious synergies, as of now. The talks are at different stages," the executive said.
Tim Meadows and Stephanie Beatriz have joined the cast of "Harry and the Mutant Mid-Century Furniture," an animated film directed by Michael Skolnick. The story revolves around young Harry, who believes his dad was abducted by aliens, and his adventures with a talking office chair, Swiv. Together, they must save Swiv from the clutches of General Frank Holtzman.