Posts in category Economic Times
Broadcom soars as demand for AI chips powers forecast raise (13-06-2024)
Broadcom surged about 15% on Thursday as its upbeat annual forecast highlighted insatiable demand for chips used in powering AI-focused technology, while its announcement of a stock split added to the euphoria.
Ambuja Cement acquire 100% stake in Penna Cement for Rs 10,422 crore (13-06-2024)
Ambuja Cement, a company owned by Adani group, has signed a definitive agreement to acquire Hyderabad-based Penna Cement at an enterprise value of Rs 10,422 crore, as per the company’s filing on the stock exchanges.
Vi board gives nod to raising Rs 2,458 crore through preferential issue of shares to Nokia, Ericsson (13-06-2024)
Telecom company Vodafone Idea (Vi) plans to raise upto Rs 2,458 crore through a preferential issue of equity shares to its two European gear vendors Nokia and Ericsson, clearing part of their pending dues and setting stage for Vi’s 4G expansion and 5G rollout.
Oil softens to $82 a barrel on Fed rate decision, ample supply outlook (13-06-2024)
Oil prices slipped on Thursday as investors digested that the U.S. Federal Reserve had likely pushed back an interest rate cut to December and as U.S. crude and fuel stocks rose.
Nasdaq hits fresh record high on soft producer inflation data, chip strength (13-06-2024)
Nasdaq-listed Broadcom surged 14.3% to a record high after the chipmaker raised its revenue forecast for semiconductors used in artificial intelligence (AI) technology. Additionally, the company announced a 10-for-1 forward stock split. Meanwhile, AI chip leader Nvidia saw a 3.3% increase, contributing to a 1.5% rise in the Philadelphia SE Semiconductor Index, which reached an all-time peak.
Rajib Kumar Mishra ceases to be chairman of PFS, CMD of PTC India after Sebi’s order (13-06-2024)
Rajib Kumar Mishra ceased to be chairman of PTC India Financial Services Ltd (PFS) as well as CMD of PTC India Ltd following the order passed by markets regulator Sebi that restrained him from holding the director's post for six months, the two companies said on Thursday.
Overall ADTO declines MoM as new demat accounts rise: Motilal Oswal (13-06-2024)
In May 2024, demat account additions surged by 36 lakh, but the overall average daily turnover (ADTO) in the financial markets declined by 3% to Rs 433 lakh crore. While F&O ADTO decreased by 3%, cash ADTO rose by 5.5%. Active users on NSE increased to 4.29 crore.
Nifty 500 Q4 recap: Domestic cyclicals fuel strong quarterly performance, says Motilal Oswal (13-06-2024)
A report by Motilal Oswal highlights that the fourth-quarter performance of Nifty-500 companies in FY24 showed strong showings from domestic cyclicals like BFSI and auto sectors while global cyclicals such as Oil & Gas and metals experienced a downturn.
Gainers & Losers: L&T Finance, OFSS among 8 stocks in limelight on Thursday (13-06-2024)
OFSS, L&T Finance, HDFC Life were among top gainers on the Indian stock exchanges which recorded fresh peaks and closed on new highs.
Bharti Airtel, HDFC AMC among 5 stocks with long unwinding (13-06-2024)
Long unwinding refers to the selling of positions or stocks owned for a longer period either to book profit or to exit it in anticipation of impending bearishness.