SoftBank Group, facing investor pressure, is set to announce its first-quarter profit. There is speculation about a major share buyback, driven by market turmoil and SoftBank’s undervalued market capitalization. Analysts and activist investor Elliott Management have called for significant buyback plans, emphasizing SoftBank’s strong cash position and recent strategic investments in the tech sector.
The Supreme Court's two-judge bench, comprising Justice Hima Kohli and Justice Sandeep Mehta, criticized the Indian Medical Association (IMA) for their limited apology in newspapers while reviewing a misleading advertisement case involving Patanjali on Tuesday.
Bangladesh's President Mohammed Shahabuddin announced the immediate release of Khaleda Zia, former Prime Minister and opposition leader. This came after Prime Minister Sheikh Hasina resigned and fled amid rising violence. Zia, jailed since 2018 for graft, faces health issues and has been hospitalized recently, adding to the country's political tensions.
As of 30-Jun-2024, promoters held 44.78 per cent stake in the company, while FIIs held 27.41 per cent and domestic institutional investors had 10.36 per cent.
A total of 379,684 shares changed hands on the counter till 11:36AM (IST).
Exiled Bangladeshi author Taslima Nasreen has sharply criticized Sheikh Hasina as she made her escape from Bangladesh following violent protests. Nasreen highlighted the irony of Hasina’s departure, drawing parallels to her own situation. She condemned Hasina for enabling Islamist groups, and called for democracy over military rule as Bangladesh faces political turmoil.
BJP MP Jagannath Sarkar expressed concerns over threats to minorities in Bangladesh, calling for PM Modi's intervention to protect lives and properties. The political unrest in Bangladesh, sparked by protests and Sheikh Hasina's resignation, has led to fatalities and injuries. Hasina's visit to India amid the crisis prompted a high-level security meeting with top ministers discussing the situation in Bangladesh.
The bank offers the highest interest rate of 7.80% for senior citizens. For individuals, the highest interest rate on FDs can go up to 7.25%.
On the technical charts, the RSI of the stock stood at 52.09.
Neeraj Chopra Olympics Match Schedule: India and Pakistan's intense rivalry in the javelin arena at the Paris Olympics 2024 is set to take center stage. With Neeraj Chopra and Pakistan's Arshad Nadeem in the same group, fans are looking forward to the qualification event. Kishore Jena, one of India's top javelin throwers, addressed the competition with Pakistan's star athlete, Arshad Nadeem.
The tax demand on Infosys is in accordance to the good and services tax rules and the country's second-largest IT services firm has sought ten days to submit its response after meeting tax officials, Reuters said citing sources.
Sheikh Hasina stepped down following weeks of protests that escalated into violence. Hasina, a dominant figure in Bangladesh politics since her father's assassination nearly fifty years ago, faced immense pressure from demonstrators demanding her resignation.
On the technical charts, the 200-day moving average of the stock stood at Rs 8243.32.
The announcement of ChatGPT by Open AI, a startup, began a big bang of AI boom on November 30, 2022. ChatGPT is a virtual assistant (a ChatBot) that allows the user to assist them with composing essays and creating content in the form of text, photos, and videos.
Japanese stocks saw a strong recovery on Tuesday following a major drop the day before. Investors reassessed recession fears and equity values, driving the Nikkei index up by 8%. Government officials met to calm markets while big name technology shares led the price rebound. Analysts caution against prematurely stepping back into the market.
The recent market crash has caused a decline in mutual fund NAVs. Financial advisors have recommended that long-term investors may benefit from topping up their SIPs now to buy more units at reduced prices. This approach could improve returns when the market rebounds. Investors should ensure they have sufficient liquidity to avoid financial strain.
Neeraj Chopra Olympic medal: Neeraj Chopra, India's only Olympic gold winner in athletics, once revealed that he had excess flab as a kid and was mocked by other children.
The stock quoted a 52-week high price of Rs 1148.3 and low of Rs 635.2.
The 30-share BSE Sensex was up 619.22 points at 79378.62
A foundit report revealed an increasing demand for AI, ML, and product management skills in India, translating to higher salaries. The article discussed how digital marketing, UI/UX design, and data analytics are key growth drivers. Additionally, it noted a shift toward skill-based hiring, with employers prioritizing adaptability and continuous learning over traditional qualifications.
The stock traded at a P/E multiple of 31.81, while the price-to-book value ratio stood at 5.13.
Ola Electric's IPO has been subscribed 1.15 times as of the third day, with full subscription by the end of day 2. Bids totaled 53,64,11,850 shares against 46,51,59,451 offered. Retail investors' quota was 3.10 times subscribed, while NII was 1.28 times. The grey market premium (GMP) stands at Rs 2.50, or 3.3%.
The World Gold Council (WGC) has collaborated with India's gold industry to establish the Indian Association for Gold Excellence and Standards (IAGES). This aims to enhance consumer confidence and trust by promoting fair practices, regulatory compliance, and a strict audit framework. The association will include industry bodies like IBJA, GJC, and GJEPC, with the WGC supporting the initiative to popularise IAGES among retail consumers and finance the campaign.
Shapoorji Pallonji group will offer six times the loan value as security to Power Finance Corporation, leveraging real estate assets and Tata Sons shares to ensure full repayment over the loan term, according to a statement by Venkatesh A, director of the group promoters office. The company clarified the security arrangement following media reports questioning its adequacy, stating that the loan proposal was formally approved by the PFC board on 14 June
The 30-share BSE Sensex was up 501.16 points at 79260.56