Shares of state-owned General Insurance Corporation of India (GIC) declined 5% as its offer for sale (OFS) opened for non-retail investors on Tuesday, June 16. The Centre, on Monday, launched the OFS to dilute up to 5% stake in the firm at a floor price of ₹352 per share, the DIPAM Secretary stated. The base…
Shares of HCLTech Ltd. gained over 2% on Tuesday, June 16, after the company led a funding round for Sarvam AI, India’s largest pure-play AI startup. HCLTech has invested ₹1,427 crore or around $150 million in Sarvam AI to acquire 10.46% stake in the startup. Sarvam AI’s Series B funding round HCLTech was the lead…
Mayuresh Joshi, Director of Research at Marketsmith India, said Sarvam’s enterprise and agentic AI capabilities can simplify workflows, making HCLTech’s investment a strategic move that could prompt more IT firms to pursue similar deals. He expects such investments to create long-term value as AI adoption rises. Disclaimer: The views and investment tips expressed by investment…
Shares of Vedanta Aluminium Ltd., Hindalco Ltd., and National Aluminium Co. Ltd. (NALCO), are trading with losses of up to 5%, extending their losses due to the correction in the global Aluminium prices. How Are Aluminium Stocks Faring? Shares of Vedanta Aluminium, which made their stock market debut on Monday, having demerged from their parent…
As geopolitical tensions ease and oil prices retreat, India is emerging as one of the more attractive opportunities within the emerging market universe, according to Matt Orton, Chief Market Strategist at Raymond James Investment. Orton believes the removal of key downside risks, coupled with stabilising currency conditions and the potential for stronger foreign inflows, could…
Shares of Arvind Smartspaces Ltd. gained up to 10% on Tuesday, June 16, after the company said it signed a new residential horizontal development project on the Kerala-Nalsarovar Road in South Ahmedabad. The stock has given up most of its gains since then. It said the joint development project with an estimated topline of ₹180…
Brokerage firm CLSA has downgraded shares of Dixon Technologies Ltd. in its latest note on Tuesday, June 16, but has maintained its price target, which is among the lowest on the street. CLSA has downgraded Dixon Technologies to “underperform” from its earlier rating of “hold” but maintained its price target of ₹10,400, which implies a…
Shares of Polycab India Ltd. remain in focus on Tuesday, June 16, after global brokerage firm Citi reiterated its ‘Buy’ rating on the stock and maintained a price target of ₹10,500 per share. The target suggests a potential upside of around 10% from current levels. Following a meeting with the company’s management, Citi said domestic…
BNP Paribas is becoming increasingly selective on Indian IT services stocks as the shift towards artificial intelligence is unlikely to benefit every company equally. According to Kumar Rakesh, Analyst – IT & Auto at BNP Paribas, the industry is facing less risk to its business model and more uncertainty around how AI will change revenue…
The Bank of Japan, the central bank of Japan, raised its benchmark interest rate to the highest level since 1995 and hinted at future policy normalisation. In a statement on Tuesday, the BOJ raised its benchmark rate to 1%, a quarter of a percentage point. Additionally, it stated that it would cease its trimming of…
