Shares of Aegis Logistics Ltd. surged as much as 14.6% on Thursday, June 11, to ₹918 after JM Financial raised its price target on the stock and reiterated its positive outlook, citing strong growth in the company’s LPG distribution business. The brokerage maintained its “Buy” rating on the stock and increased its price target to…
Oracle Corp shares declined by the most in six months after the company reported quarterly capital expenses that were higher than estimates, raising investor concerns about the profitability of the AI infrastructure business. Capital expenditures, largely a measure of data center spending, were about $16.5 billion in the period ended May 31, bringing the annual…
US stocks opened higher on Thursday, June 11, after the United States completed a fresh round of strikes on Iran, intensifying the conflict but also prompting investors to position for a rebound from recent losses. The S&P 500 rose 0.4% shortly after the opening bell, while the Nasdaq Composite climbed 0.5%. The Dow Jones Industrial…
Vedanta Ltd.’s demerger process is set to reach a significant milestone on June 15, with four newly created entities beginning trading on the National Stock Exchange and BSE as independent companies. According to exchange notices issued on Thursday, Vedanta Aluminium Metal Ltd. (VAML), Vedanta Power Ltd. (VEDPOWER), Vedanta Iron and Steel Ltd. (VISL), and Vedanta…
Amazon.com Inc. said its data centers used 2.5 billion gallons of water worldwide last year, or about 5% of the amount metro Seattle consumes annually. The world’s largest cloud-computing company said the disclosure shows that it cools server farms more efficiently than some of its large tech industry peers. Amazon’s announcement arrives amid a politically…
Oracle shares tumbled 12% on Thursday as surging spending and a ballooning debt load fanned investor concerns about the cash burn in the company’s push to build out AI infrastructure. If the losses persist, the stock would log its biggest one-day drop since January last year, wiping off around $72 billion from the company’s $578.83…
Adani Enterprises Ltd on Thursday (June 11) said its joint venture AdaniConneX Private Ltd (ACX) has acquired 100% equity stake in Madhuvanti Build Estate Ltd (MBEL) for a cash consideration of ₹765.25 crore. Madhuvanti Build Estate Ltd has an authorised and paid-up share capital of ₹10,000 each and has not yet commenced commercial operations. The…
GNG Electronics Ltd‘s promoter Vidhi S. Khandelwal on Thursday sold 44.87 lakh equity shares, representing 3.94% of the company’s equity capital, through a block deal worth about ₹175 crore. The shares were sold at an average price of ₹390 apiece, according to deal data. Following the transaction, the shareholding of the promoter and promoter group…
Technology-enabled services provider in the healthcare services space, Sagility Ltd, on Thursday (June 11), announced the acquisition of US-based healthcare analytics company CareSeed, aimed at expanding its AI-led quality operations and Medicare Advantage performance transformation capabilities. The aggregate purchase consideration is up to $30 million, comprising an upfront payment of $17.5 million at closing, subject…
Markets regulator Sebi on Thursday extended the timelines for merchant bankers to comply with certain provisions related to separate business units (SBUs), net worth and liquid net worth requirements, citing operational challenges faced by the industry. Under the revised timelines, merchant bankers will now have until December 31 to transfer activities to separate business units…
