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🇮🇳115d ago
SK Hynix Shares Surge in US Nasdaq Debut Amid AI Chip Demand
SK Hynix's shares jumped significantly following its Nasdaq debut and large share sale, with the offering oversubscribed due to strong investor demand. The listing reflects robust enthusiasm for artificial intelligence-related semiconductor stocks and provides the memory chipmaker access to a broader investor base.
🇮🇳115d ago
SBI Funds raises Rs 1,655 crore in pre-IPO placement ahead of 2026 debut
SBI Funds Management secured Rs 1,655 crore through a pre-IPO share placement at Rs 574 per share, selling a 1.42% stake to investors including PI Opportunities Fund-II and Enam's Akash Manek Bhanshali. The placement precedes the asset manager's planned Rs 11,693 crore IPO, positioned as India's largest public offering for 2026.
🇮🇳115d ago
Groww Faces Technical Glitch Disrupting Client Withdrawals
Indian brokerage Groww experienced a temporary technical disruption on Friday that prevented client fund withdrawals and affected deposit functionality, with the issue attributed to its cloud service provider Google Cloud Platform. The company resolved the problem before market close, restoring customer access to their funds.
🇮🇳115d ago
IT Rally Lifts Indian Markets; Sensex, Nifty End Week in Red
Indian equity indices rose on Friday driven by information technology stocks, with Tata Consultancy Services' earnings meeting expectations and easing sector concerns. Despite the Friday rally, both benchmark indices finished the week with marginal losses, ending their winning streak as West Asia tensions and elevated crude oil prices tempered investor sentiment.
🇮🇳115d ago
US stocks end higher as investors turn to earnings season
US markets closed higher with the S&P 500 trading near record levels, supported by SK Hynix's strong Nasdaq debut and renewed momentum in AI-linked chip stocks. Investors are maintaining a cautious stance ahead of the earnings season and upcoming inflation data releases.
🇮🇳115d ago
India's forex reserves surge $7.3 billion on FCNR and ECB inflows
India's foreign exchange reserves rose $7.26 billion to $674 billion in the week ended July 3, driven by increases in both foreign currency assets and gold holdings, according to Reserve Bank of India data. The gains reflect stronger inflows from Foreign Currency Non-Resident (FCNR) deposits and External Commercial Borrowing (ECB) activities.
🇮🇳115d ago
Indian Bank Cancels Capital Raise on Lower ECL Impact
Indian Bank has cancelled its planned share sale after revising its expected credit loss (ECL) estimates downward, eliminating the need for additional capital. The bank's stronger Q1 performance, featuring 10% year-on-year net profit growth and robust advances and deposit expansion, supported the decision.
🇮🇳115d ago
SK Hynix shares surge 14% in Nasdaq debut on AI chip demand
SK Hynix shares jumped 14% on their Nasdaq debut following a $26.5 billion offering, reflecting robust investor appetite for AI-focused semiconductor stocks. The South Korean chipmaker plans to expand high-bandwidth memory (HBM) chip production and AI infrastructure investments.
🇮🇳115d ago
Kotak Mahindra Bank to Pursue Acquisitions Alongside Organic Growth
Kotak Mahindra Bank plans to combine acquisitions with organic expansion to enhance its market scale and customer reach in India. The bank recently acquired Deutsche Bank's retail portfolio and intends to capitalize on India's economic growth trajectory through both strategic acquisitions and internal development.
🇮🇳115d ago
Bank credit growth hits two-year high at 18.6% as debt markets turn costly
Bank credit expanded to an 18.6% growth rate in the fortnight ending June 30, marking a two-year peak, while deposit growth also increased during the period. Corporate and consumer sectors are shifting borrowing preferences toward banks as debt market financing becomes more expensive.
🇮🇳115d ago
Morgan Stanley cautions AI chip rally may be losing momentum
Morgan Stanley's Lisa Shalett has warned that semiconductor stocks may be overvalued as major technology companies develop proprietary AI chips at lower costs. The analyst expects slowing AI infrastructure spending and diminished pricing power to pressure chipmakers going forward.
🇮🇳115d ago
Circle Wins OCC Approval to Launch US Trust Bank
Circle has received final regulatory approval from the US Office of the Comptroller of the Currency to establish a national trust bank, allowing the company to manage its own reserves and hold cryptocurrencies directly. The milestone underscores the growing integration of blockchain technology and digital asset firms into the traditional US financial system.
🇮🇳115d ago
Shein Wins China Approval for Hong Kong IPO After Two Failed Attempts
Fast-fashion company Shein has secured regulatory approval for a Hong Kong initial public offering on its third attempt, according to reports. The announcement marks a significant milestone for the company, which has previously faced regulatory hurdles and market scrutiny in Western markets.
🇮🇳115d ago
PFC Raises $300M Via Floating-Rate Bonds Maturing 2029
Power Finance Corporation, a state-owned entity, has successfully raised USD 300 million through the issuance of floating-rate bonds scheduled to mature in July 2029 and denominated in US dollars. The bonds will be listed on NSE IFSC and India INX, following Reserve Bank of India guidelines.
🇮🇳115d ago
SK Hynix New York Debut Validates Billionaire Chey's AI Chip Strategy
South Korean billionaire Chey Tae-won's acquisition of SK Hynix has yielded significant returns, with the chipmaker now establishing itself as a leading producer of high-bandwidth memory chips for artificial intelligence applications and debuting in New York. The strategic move has positioned SK Hynix as a key player in the expanding AI sector, though emerging concerns about future demand and potential market oversupply present ongoing risks.
🇮🇳115d ago
Warsh's Fed Reform Task Force Draws Praise, Faces Implementation Hurdles
Federal Reserve Chairman Kevin Warsh has assembled a 15-member external expert task force to lead reform initiatives, featuring former Obama administration officials and international central bankers. The ambitious review aims to conclude by year-end, though success will depend on securing broad institutional buy-in for any proposed changes.
🇮🇳115d ago
Wall Street Banks Impose Restrictions on Staff Prediction Market Betting
Major Wall Street banks including Goldman Sachs, Morgan Stanley, JPMorgan Chase, and Bank of America have updated employee conduct guidelines to restrict or prohibit participation in financial and political prediction markets. The policy revisions aim to eliminate conflicts of interest and ensure compliance with industry standards.
🇮🇳115d ago
SpaceX's AI Growth Engine Grounded in Earth-Based Compute
SpaceX is generating substantial near-term revenue from terrestrial artificial intelligence infrastructure contracts with major clients, with these deals expected to exceed income from other company operations this year. Analysts indicate that Earth-based compute services, rather than orbital AI applications, will be the primary growth driver for SpaceX through the remainder of the decade.
🇮🇳115d ago
Oil Heads for Weekly Gain as Middle East Supply Risks Persist
Oil prices posted modest gains Friday as traders weighed Middle East geopolitical tensions, including renewed US-Iran hostilities and shipping disruptions in the Strait of Hormuz. Market confidence in diplomatic resolution efforts appeared to be limiting more dramatic price increases despite the supply concerns.
🇮🇳115d ago
Delhi retail rents surge 9% annually as Khan Market leads gains
Retail space rents in Delhi's Khan Market rose 9 percent annually during April-June, with South Extension I & II recording the steepest increases at 10 percent, according to reports. Leasing activity across Delhi-NCR retail spaces doubled during the same period, indicating robust demand in India's commercial real estate sector.