Shares of electric mobility companies JBM Auto Ltd. and Olectra Greentech Ltd. gained as much as 6% on Thursday, June 4, after the Union Cabinet approved a major vehicle replacement programme aimed at accelerating the adoption of cleaner transport in the Delhi-NCR region. The government has cleared a ₹9,585 crore initiative to phase out older…
Rohit Srivastava, Founder of Indiacharts and Strike Money, believes Indian markets are nearing a critical support zone and may be in the final phase of the current pullback. He says the broader market remains resilient despite weakness in benchmark indices, which supports the case for a rebound. Srivastava remains positive on metals and pharma stocks,…
The Japanese government may have used foreign assets, such as US Treasuries, to finance its record currency market intervention during the last month, as evidenced by the significant decline in Japan’s foreign securities holdings in May. According to reserve data issued by the Finance Ministry on Friday, foreign securities holdings decreased by $75.6 billion since…
Asian shares fell with US equity index futures declining as well as enthusiasm for AI trade cooled post driving the markets to all time highs this year. The MSCI’s regional index declined 1.3%, with South Korea falling 5.7%. Futures contracts for the Nasdaq 100 Index dropped over 1%, indicating a third day of losses for…
Shares of Ola Electric Mobility Ltd. are in focus on Friday, June 5, after the electric vehicle maker said it raised ₹780 crore via its qualified institutional placement (QIP), which was oversubscribed compared to the number of shares on offer. The company, on Thursday said, its board approved the allotment of 21.75 crore equity shares…
S&P Global said on Thursday it was not changing the requirements for entry into its major indices, dealing a setback to Elon Musk’s SpaceX by effectively ruling out a swift entry for the world’s biggest-ever IPO into the benchmark S&P 500 index. Musk has rewritten the IPO playbook for SpaceX in many ways, from planning…
SpaceX told banks in its $75 billion initial public offering that it is set on the $135-a-share price that the firm disclosed on Wednesday in its amended IPO filing, sources told Reuters. The company’s decision is the latest sign that Elon Musk is intent on holding the largest ever initial offering according to his preferences,…
Indian IT stocks are expected to remain in focus on Friday, June 5, after global brokerage JPMorgan flagged the possibility of a weaker-than-expected start to the first quarter for the sector. In a note on the Indian IT services industry, JPMorgan said its channel checks with companies and industry participants indicate that June-quarter performance could…
South Korea’s $4.9 trillion stock market is starting to flash signs of strain after a world-beating rally. The Kospi tumbled as much as 7% Friday as Samsung Electronics Co. and SK Hynix Inc. sank — outsized moves that show how volatile the market has become. The exchange briefly halted program selling as futures slumped, a…
Global investors are rapidly losing confidence in Indonesia as the nation’s stocks tumble at the fastest pace worldwide and its currency sinks to all-time lows. Just five months after hitting a record high, the benchmark stock index has tumbled 36% to become the worst performer this year among more than 90 global gauges tracked by…
