Market News
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South Korean shares rebound 6% but face second weekly loss
South Korean equities rebounded sharply on Friday, with the Kospi jumping nearly 6%, led by strong gains in heavyweight stocks like Samsung Electronics and SK Hynix. The recovery came after earlier losses driven by a global tech selloff and concerns that the AI-driven rally may be peaking.
D-St set for a positive opening as GIFT Nifty signals firm start
Indian equities saw a positive close on Thursday, with the Nifty climbing 0.5% to 24,175. Analysts anticipate a gradual upward trend driven by favorable global sentiment and central banks' focus on inflation control. Stock-specific movements are expected from pre-quarterly business updates. The market's fear gauge, India VIX, also declined significantly.
Coloured gemstones prices rise 20% as demand surges; gold, silver prices decline
Coloured gemstone jewellery is seeing a surge in popularity, with prices rising 20% year-on-year as affluent consumers favour these vibrant pieces over traditional gold and diamond items. This trend, driven by global influences and celebrity endorsements, has boosted demand by 30%, prompting jewellers to expand their inventories for the upcoming festive and wedding seasons.
I would never have been CEO in any other country, including India: Indra Nooyi
Former PepsiCo chief Indra Nooyi credits the US' "meritocratic" system for her success, stating she couldn't have reached CEO status in any other nation, including India. She emphasised how the US commercializes global innovations, allowing immigrants to rise. Nooyi urged her daughters to cherish these opportunities and preserve the nation's spirit, highlighting the system's focus on talent over background.
Rupee climbs 32 paise to 94.93 against dollar, but traders see pressure ahead
Indian rupee opens stronger at 94.93 against the US dollar, aided by lower crude prices, but traders warn volatility as RBI and global markets stay in focus.
HSBC inks pact with Prestige Group to pre-lease 1.2 million sq ft office in Bengaluru
Global banking giant HSBC has secured a massive 1.2 million sq ft office space in Bengaluru's Prestige JRC Signature Towers. This significant deal, valued at over Rs 3,000 crore for a 20-year lease, highlights Bengaluru's appeal for multinational financial firms. The under-construction campus, set for completion in October 2027, underscores the strong demand for integrated, high-quality office spaces in India's tech and finance hub.
MiPhi bets on memory products shortage to expand auto, electronics business in India
Flash storage maker MiPhi is capitalizing on the global memory chip shortage to secure lucrative deals in India's electronics and automotive sectors. The joint venture between Taiwan's Phison and India's Micromax is supplying high-density storage solutions, leveraging Phison's micro-controllers.
Kotak to buy Deutsche's India retail, wealth business
Kotak Mahindra Bank is set to acquire Deutsche Bank's retail, private banking, and wealth management operations in India. This significant deal, involving approximately ₹29,000 crore in loans and ₹16,000 crore in deposits, will bring around 150,000 new customers and 1,000 employees to Kotak. The acquisition aims to bolster Kotak's focus on affluent and SME clients, while Deutsche Bank streamlines its global portfolio.
Indian electronics manufacturers forge more and more partnerships with companies from South Korea, Taiwan, Japan
Indian electronics manufacturers are forging alliances with firms from South Korea, Taiwan and Japan, alongside exploring standalone initiatives. This proactive strategy, championed by industry leaders like Dixon Technologies and Amber Enterprises, is designed to align with government objectives for self-reliance in electronics production, targeting both local and global markets.
Voltas gears up to start AC exports to tap growing demand in Europe, Middle East
Voltas, India's leading air-conditioner maker, is set to expand its global footprint by exporting to Europe and the Middle East, leveraging its existing manufacturing capacity. Chairman Noel Tata announced his departure from the board, citing retirement age. The company is also reviewing in-house compressor manufacturing after a previous joint venture faced regulatory hurdles.
Kotak Mahindra Bank to acquire Deutsche Bank’s retail banking, private banking and wealth management business in India
Kotak Mahindra Bank is acquiring Deutsche Bank's retail, affluent private banking, and wealth management operations in India. This strategic move, involving approximately Rs 29,000 crore in loans and Rs 16,000 crore in deposits, aims to bolster Kotak's focus on affluent and SME segments. Deutsche Bank is divesting to simplify its business and concentrate on global ultra-high-net-worth clients.
India Semiconductor Mission 2.0 Gets Rs 1.25 Lakh Crore Nod From Finance Ministry Panel
The government expects the enhanced programme to help India meet up to 75% of its domestic semiconductor demand by 2030, reducing import dependence and supporting the country's ambitions of becoming a global electronics manufacturing hub.