A Reddit post by a startup founder urged high-earning individuals to emigrate from India, citing restrictive regulations, poor infrastructure, and socio-economic issues. The post detailed the founder’s struggles, including bribery demands, regional bias, and civic issues, while recommending alternative nations like the UAE and Thailand. Despite the post being deleted, its content has stirred widespread discussion, drawing agreement and criticism from readers. It highlights ongoing challenges faced by professionals and innovators in India.
India Cements' shares surged 11% after the Competition Commission of India (CCI) greenlit UltraTech Cement's acquisition of a 32.72% stake. UltraTech's board approved the acquisition and a subsequent open offer at ₹390 per share. India Cements' stock has seen significant gains over the past year and various shorter timeframes, trading above key moving averages.
Piramal Enterprises' shares rose nearly 3% after the company's board approved raising up to Rs 2,000 crore via NCDs. The fundraising will occur in one or more tranches, with each NCD having a face value of Rs 1,000. The company's stock has outperformed the Nifty index over the past year and year-to-date. Despite the day's gains, shares closed 2.
The Exoskeleton Laboratory team at the Korea Advanced Institute of Science and Technology (KAIST) said their goal is to create a robot that seamlessly integrates into the daily lives of individuals with disabilities. Kim Seung-hwan, who is himself a paraplegic and part of the KAIST team, demonstrated the prototype which helped him walk at a speed of 3.2 kph (2 mph), climb a flight of stairs and take sideways steps to slide into a bench.
A horrific subway attack in Brooklyn, New York, left a woman burned to death on Sunday morning. Sebastian Zapeta, a 33-year-old Guatemalan migrant, was arrested after allegedly setting the woman ablaze. The incident, captured on video, shocked the city and drew condemnation from officials, including Mayor Eric Adams and Tesla CEO Elon Musk. Zapeta, identified through body-worn camera footage and public tips, was apprehended later that day. Investigations into the motive and his immigration status are ongoing.
However, it's worth noting that this is different from a 5-year breakout, which occurs when a stock's price surpasses a key resistance level that has held for five years or longer.
Tata Consultancy Services (TCS) is divesting a 30% stake in its South African subsidiary, TCS SA, to Isisekelo Sethu Trust for ₹28 crore. This move aims to comply with South Africa's Broad-Based Black Economic Empowerment (B-BBEE) guidelines. TCS SA contributed 0.39% to TCS's consolidated income as of March 31, 2024.
The first Air India Express flight from Surat to Bangkok had very high alcohol sales. Passengers, flying from dry Gujarat, enjoyed the onboard bar. Social media buzzed about the drinks running out. The airline stated the stock was not depleted, just popular. The flight carried 175 passengers to Bangkok, the airline's 50th destination.
NTPC Green Energy's shares saw a 4% surge after the company announced a partnership with the Bihar government for renewable energy projects. The MoU focuses on developing solar and wind installations, battery storage, and green hydrogen initiatives in Bihar.
Donald Trump on Sunday said he was appointing Bo Hines, who previously ran to represent a North Carolina district in Congress, as executive director of the Presidential Council of Advisers for Digital Assets that will be chaired by incoming crypto czar David Sacks.
The 200 DMA is used as a key indicator by traders for determining the overall trend in a particular stock.
Reliance Digital Health is set to acquire a 45% stake in Health Alliance Group. The deal is worth $10 million. This investment will help create a virtual healthcare platform. The platform will expand access to care for underserved communities. The transaction will be completed in about two weeks. Reliance Industries shares are expected to react to this news.