The US trade deficit narrowed modestly in April as record exports, led by a sharp rise in petroleum shipments, helped offset continued strength in imports tied to artificial intelligence and data centre investments. According to data released by the US Commerce Department on Tuesday, the goods and services trade gap shrank 1.2% month-on-month to $55.9…
The Bombay High Court on Tuesday dismissed an interim application filed by the Lilavati Kirtilal Mehta Medical Trust, which runs Mumbai’s Lilavati Hospital, seeking to restrain HDFC Bank, its Managing Director and CEO Sashidhar Jagdishan, and others from making allegedly defamatory statements against the Trust and its members. The Trust had moved the application in…
Quality Power Electrical Equipments Ltd has signed a term sheet to acquire 100% of the equity share capital of Winwin Speciality Insulators Ltd (WSIL) at an enterprise value of approximately ₹315 crore, the company said on Tuesday. The proposed transaction, subject to due diligence, regulatory approvals and other customary closing conditions, is expected to be…
Brent crude fell below $91 per barrel for the first time since April 17, as easing Middle East tensions and fresh global economic data pushed investors to unwind risk premiums built into oil prices. The global benchmark dropped more than 3% to around $90.50 a barrel on Tuesday after Israel and Iran agreed to pause…
US stock markets opened higher on Tuesday, extending gains from the previous session as easing oil prices and renewed optimism around artificial intelligence (AI) stocks boosted investor sentiment. The benchmark S&P 500 rose 0.5% in early trading, while the technology-heavy Nasdaq Composite gained 0.7%. The Dow Jones Industrial Average also advanced 0.5%. Technology shares continued…
Bharti Airtel gains relief after the Bombay High Court quashed OTSC demands, while IndiGo remains in focus following a 10% hike in aviation turbine fuel prices. Ajanta Pharma sees a promoter stake sale via a block deal, the government expands NLC India’s OFS, and Dixon Technologies plans a telecom manufacturing joint venture with Gemtek. Here…
Shares of Ajanta Pharma are likely to be in focus after a promoter entity offloaded shares worth more than ₹1,000 crore through a block deal on Tuesday. Ravi Agrawal Trust, a promoter entity in the company, sold 34.5 lakh shares, representing a 2.8% stake in Ajanta Pharma, for about ₹1,024 crore. The shares changed hands…
India’s automobile sector could still post high single-digit growth in FY27, even as rising fuel prices, higher commodity costs and geopolitical uncertainties create near-term challenges, according to Vivek Kumar of ICICI Securities. The brokerage expects margins to face temporary pressure as companies prioritise demand over earnings. He said, “There’s an internal debate going on inside…
The government said on Tuesday, June 9 it has decided to exercise the oversubscription option in the ongoing offer for sale (OFS) of Life Insurance Corporation of India, increasing the total stake sale size to 3% of the company’s paid-up equity capital from the initially proposed 2%. With the oversubscription option, the total offer size…
The Nifty bulls owe a profuse amount of thanks to the banking stocks that kept the index afloat during the weekly options expiry session. Despite that move, the index failed to achieve a breakout from the range it finds itself locked in. The fact that the Nifty even managed a 100-plus point advance was courtesy…
