MARKET VALUE LOSS
Japan's Nikkei ends lower as stronger yen, chip losses weigh
Japan's Nikkei share average fell 1% to its lowest level since mid-August, influenced by a stronger yen and losses in semiconductor stocks. Investors are keenly awaiting U.S. non-farm payroll data to assess the economy. Key exporters like Toyota and Sony saw declines, while chip-related stocks followed a slump in U.S. technology shares.
Nvidia suffers record $279 billion loss in market value as Wall St drops
Shares of Nvidia plunged 9.5% in a historic single-day decline, shedding $279 billion in market value. This drop reflects investor caution about AI technology amid a broader market selloff following weak economic data. The PHLX chip index also fell significantly, highlighting concerns over the payoff from AI investments.
Tech market values fall on AI costs and recession fears
Last month, Alphabet Inc's lost 4.7% of its market value as a slowdown in YouTube's advertising sales fuelled concerns about its earnings. A US judge's ruling that Google had violated antitrust laws and the emergence of new competition from OpenAI, which is developing an AI-based search engine prototype, also contributed to its shares' decline.
FirstCry logs 17% rise in revenue, lower loss in Q1 FY25
Floods in the UAE and early Eid, which saw festival season purchases being advanced to early April, hit order volumes for Brainbees Solutions, the parent firm of the baby and mother care product retailer. However, order volumes are now back on track, said CEO Supam Maheshwari.
Nvidia fails to impress growth-hungry investors, shares fall
Nvidia's recent quarterly forecast didn't meet high investor expectations, leading to a 6% drop in its shares and affecting other chipmakers. Despite robust growth and a $50 billion share buyback, concerns remain about the long-term viability of generative AI and regulatory scrutiny. Nvidia's forecast for the coming quarter was close to analysts’ estimates.
Make those Li-ion batteries roar
India's demand for lithium-ion batteries is set to exceed 300 GWh by 2030, primarily met through imports. With major investments from companies and government initiatives, India plans to develop its own manufacturing capabilities. Emphasizing mineral security, advanced battery tech, and recycling, the focus is on achieving energy independence and decarbonisation.
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Centre charges up EV space with PLI approvals
The approvals on Wednesday are likely to help the companies partially offset losses they are incurring in manufacturing EVs due to low volumes currently. Among the companies, Bajaj Auto is the sole automaker to get approvals for all the 13 applications filed for its electric scooter Chetak and three-wheelers.
Falling crude prices to surge marketing margins; strengthen OMCs earnings outlook: Probal Sen
But if we look at the way crude prices are behaving, if we look at the way demand estimates continue to see a little bit of softness, there is a wide variance one has to say between the different organisations tracking it, OPEC is probably still closer to about 2 million barrels a day of demand for the next 12 months, whereas IEA is as low as 0.7-0.8 million barrels.
Ola Electric surges over 80% since August 9 listing
Ola Electric Mobility's shares experienced an 82% increase since their August 9 market debut. Initially listed at ₹76, the stock rose to ₹157.4, driven by new vehicle introductions and institutional buying. Though analysts were skeptical, the long-term growth prospects have kept the stock buoyant.
Piyush Goyal flays Amazon, unchecked ecomm
Piyush Goyal, India's Commerce Minister, criticized Amazon's $1 billion investment, suggesting it masks predatory pricing and doesn't benefit the economy. He raised concerns about ecommerce disrupting small retailers and questioned a report suggesting no impact on traditional retail jobs. Goyal called for cautious regulation and the need to understand ecommerce's role better.
Ola Electric shares surge 90% post-debut to hit $7 billion value
The jump has helped founder Bhavish Aggarwal achieve his target valuation much sooner than expected, buoyed by strong investor demand in India’s hot IPO market. The country’s biggest e-scooter maker went ahead with the offering at a lower value after facing investor pushback amid concerns over its profitability.
Shares of Trump's media firm sink to record low
Shares of Trump Media & Technology Group, primarily owned by Donald Trump, fell to record lows after his return to rival platform X. The company's stock has declined continuously for eight sessions, closing at $21.42. Contributing factors include a quarterly loss of $16.4 million and Trump's dwindling lead in recent polls and election betting markets.
IPO-bound Kalpataru Ltd's net loss narrows to Rs 101 cr in last fiscal
Real estate firm Kalpataru Ltd, which plans to launch its maiden public issue, has posted a consolidated net loss of Rs 100.74 crore during the last financial year on lower income.
We're almost fully invested, can’t sell good performers as new ideas are tough to come by: Amit Jeswani
Amit Jeswani, CIO of Stallion Asset, discussed their strategy of staying fully invested, with a focus on high-growth, market-leading companies. Despite briefly holding cash last quarter, they prioritize finding new stock ideas. Jeswani highlighted fruitful investments in capital markets and the growing potential in sectors like power and cables. They continuously seek promising opportunities.
Crypto market insights: Effective strategies for volatile conditions
In a recent ETMarkets live stream, crypto trader Saketh discussed strategies for managing crypto market volatility. Key points included diversification, using stop-loss orders, and leveraging technical analysis. Emphasizing a long-term investment perspective, the session aimed to educate viewers on navigating the risks associated with the unpredictable crypto market.
New Starbucks ‘dream’ CEO swings $27 billion in market value
Starbucks Corp. investors have never rewarded the stock more than they have today on the news that the coffee chain giant hired Chipotle Mexican Grill Inc.’s Chief Executive Officer Brian Niccol as its new leader.
Vodafone Idea shares rally over 3% after narrowing Q1 losses. Should you invest?
Vodafone Idea's shares climbed 3.5% as it narrowed its Q1 2024 losses to Rs 6,432 crore. Revenue dipped slightly by 1.38% to Rs 10,508 crore. The company's ARPU grew to Rs 146 from Rs 139. Brokerages provided differing opinions on Vodafone Idea's future, amid concerns about debt and government support.
REA India reports 31% rise in revenue
Melbourne-based REA Group reported a 31% rise in revenue from India for the financial year ending June 2024, albeit down from 46% growth the previous year. The company's revenue increased to 103 million AUD (Rs 563 crore) in FY24, up from $79 million in FY23 and $54 million in FY22.
Stock market crash: Anand Mahindra suggests ‘Pranayama’ strategy for Indian investors
Mahindra Group Chairman Anand Mahindra suggested using Pranayama to cope with the situation, emphasizing India's long-term growth potential. Social media was flooded with Bollywood-related memes and reactions, reflecting investor anxiety and frustration. The Sensex fell below its Budget-day low, and the Nifty50 slipped below its 20-day moving average, marking its largest single-day decline in over two months.
Intel shares slump 28%, set for record loss as turnaround struggle deepens
Intel was set to erase about $35 billion in stock market value on Friday in potentially its worst selloff ever after it suspended dividend and slashed workforce to fund a costly turnaround for its chip-making business.
Microsoft sinks, chipmakers climb as AI rally faces divide
Microsoft reported slower growth in its cloud business, leading to a $340 billion market value loss for itself and other tech giants like Amazon and Meta. However, AMD and Nvidia benefited as their AI chips saw solid demand. Rising costs in AI infrastructure have increased investor concerns, impacting the overall market sentiment.
Wall Street Week Ahead: Spooked US stock market faces tech earnings minefield, Fed meeting
Investors faced a jittery week with crucial earnings reports from top tech giants, a Federal Reserve policy meeting, and vital employment data. Following recent market turmoil, earnings from Microsoft, Apple, and Meta Platforms, along with the Fed's possible interest rate cuts and employment figures, were anticipated to influence U.S. stock trajectories significantly.
Local beer makers call the shots in value segments; gain combined mkt share by 400 bps
India's largest beer brands, United Breweries and AB InBev, have lost a significant market share to local brands like British Empire, Godfather, Cobra, and Khajurahuo. This comes after global companies shifted their focus to higher margin premium brands, resulting in a 4% market share loss. The decline is attributed to limited funds and acquisitions compared to multinationals.
Hedge fund’s secret Adani short revealed in blow-by-blow account
A short-seller's report targeting Adani Group led to a $153 bn market value drop. The investigation involved a hedge fund, regulator, and a big Indian bank. US regulators scrutinized hedge fund collaborations and short-selling's impact on market efficiency.
Japan's Nikkei closes lower as tech shares drag; value stocks up
Japan's Nikkei share average closed slightly lower on Friday due to losses in technology shares, offsetting gains in value stocks amidst a weak yen and higher yields.
Adani Ports tops global peers in market value as cargoes surge
Adani Ports & Special Economic Zone Ltd.’s market capitalization has climbed to about $37 billion, overtaking peer Beijing-Shanghai High-Speed Railway Co. Rising cargoes and entry into India’s benchmark S&P BSE Sensex Index may extend its rally.
₹1 investment in agri R&D can fetch ₹13 return, says NAAS chief
The NAAS president, Himanshu Pathak, stresses the urgent need to revamp India's agricultural research and education system to address challenges like high costs, low productivity, and climate change impacts. Highlighting significant returns on research investments, he calls for a shift towards globally competitive and sustainable farming, emphasizing the importance of innovation and collaboration to achieve these goals.
Salesforce plummets 18% as weak forecast sparks concerns of AI competition
Salesforce shares slumped about 18% on Thursday, after its lowest-ever quarterly revenue growth forecast raised fears that high interest rates and rival AI offerings were hampering demand at the cloud-based software firm.
IPL insurance claims hit Rs 150 crore
This year, the tournament took Rs 10,000 crore insurance cover from New India Insurance, National Insurance, and United Insurance, insuring against revenue losses from events like rain cancellations. Matches between Gujarat Titans and Kolkata Knight Riders, Rajasthan Royals and KKR, and Sunrisers Hyderabad and Gujarat Titans, were affected due to rains.
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