Hot Stocks: UBS upgrades Infosys & downgrades Wipro; JPMorgan upgrades TCS
TCS has a neutral rating, but UBS raised the target price to Rs 4,050 from Rs 3,700 earlier. HCL Technologies has a neutral rating, but the target price was raised to Rs 1,540 from Rs 1,350 earlier. Key Points
Economic TimesGlobalFoundries eyes tieups for fab unit in India
GlobalFoundries was earlier in talks with a few companies from the country. Those plans, however, did not materialize owing to the latters lack of credible expertise and experience in manufacturing electronics products, a source said. Key Points
Economic TimesBoeing to invest $100 mln in infrastructure, pilot training in India
Boeing is investing $100m in infrastructure and training programmes for pilots in India. This follows the country's Air India placing firm orders for more than 200 jets, including 20 787 Dreamliners, with Boeing earlier in the week. This week, IndiGo placed an order for 500 narrow-body planes with Airbus. India's newest airline, Akasa Air, also ordered four additional 737-8 jets from Boeing during the Paris Air Show. Key Points
Economic TimesLoews posts Q3 profit on higher investment income, insurance premium
Loews Corp (L.N) on Monday reported a profit in the third quarter compared to a loss a year earlier, boosted by higher investments and insurance unit CNA Financial's (CNA.N) strong performance. Key Points
ReutersHindustan Zinc board okays fourth interim dividend for FY23
Earlier in February, the Indian government opposed HZL’s planned $2.98 billion acquisition of zinc assets from Vedanta over concerns of valuations and the deal being a “related party transaction”. Key Points
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Block shares surge 19% on better-than-expected Q3 revenue amid resilient spending
Payments company Block (SQ.N) beat estimates for third-quarter revenue on Thursday, helped by resilient spending from consumers who brushed off fears of an economic downturn, sending shares up 19% in aftermarket trading. Key Points
ReutersIndia's LTIMindtree misses Q1 profit view as clients cut spending
India's LTIMindtree (LTIM.NS) reported a lower-than-expected first-quarter profit on Monday as some of its clients cut spending due to a challenging macroeconomic environment, while higher employee-related expenses ate into margins. Key Points
ReutersRape convict Gurmeet Ram Rahim Singh gets furlough again, released for 21 days
This is the third time that the the Dera Sacha Sauda chief has been granted parole/furlough this year. Ram Rahim had earlier been granted parole in January this year for 40 days followed followed by three weeks' furlough in February. Key Points
Economic Times20 still missing after Uttarakhand landslide
Rescuers on Saturday looked for 20 people who remained missing at rain-hit Gaurikund on the Kedarnath route following a landslide triggered by flashfloods two days ago. Three bodies were earlier recovered. Key Points
The Tribune India‘Rajendra Gudha should have been sacked earlier as Rajasthan minister’: State Congress co-in-charge Amrita Dhawan
Rajasthan Congress co-incharge Amrita Dhawan said that Rajendra Gudha should have been sacked earlier as the state minister due to his controversial statements. Rajasthan Chief Minister Ashok Gehlot has now sacked Gudha. Key Points
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6.9 magnitude earthquake strikes Kermadec Islands in New Zealand
The European Mediterranean Seismological Centre earlier estimated the magnitude at 6.6 and a depth at 183 km. | World News Key Points
Hindustan TimesIndiGo Q4 results: Profit of ₹919 crore, revenue soars 76%
Revenue from operations surged 77% to 141.6 billion rupees from a year earlier. Key Points
Hindustan TimesAsian shares rise on US rate relief, yen jumps on BOJ chatter
By Stella Qiu SYDNEY (Reuters) -Asian shares rose on Thursday while the dollar nursed losses after the world's most powerful central banker reassured investors that U.S. rates would fall this year, Key Points
ThePrintHimachal Pradesh speaker Kuldeep Singh Pathania suspends 15 BJP MLAs, adjourns House
Himachal Pradesh Assembly Speaker Kuldeep Singh Pathania suspended 15 BJP MLAs, including Leader of Opposition Jai Ram Thakur, for misbehavior and shouting slogans in the House, leading to its adjournment. Thakur had expressed apprehension earlier that the suspensions were intended to facilitate the passage of the budget. Key Points
Economic TimesIMF revises India’s FY25 growth forecast upward to 6.5%
The finance ministry in its economic review before the budget has projected Indian economy to grow close to 7% in FY25. The multilateral institution projected Indian economy to grow 6.7% in FY24. The first advance estimate released by the government earlier this month pegged FY24 growth at 7.3%. Key Points
Economic TimesDollar dips after soft US inflation data, Aussie, New Zealand dollars outperform
By Karen Brettell NEW YORK (Reuters) - The dollar index gave up earlier gains and higher beta currencies, including the New Zealand and Australian dollars, outperformed on Friday after U.S. producer Key Points
ThePrintTesla erases $145 billion in valuation on demand woes
The selloff started earlier this month when the electric-vehicle giant dialled back growth expectations during its third quarter earnings call. That was followed by grim commentary from several global automakers, as well as Wall Street analysts. This week, battery-maker Panasonic Holdings Corp. and chipmaker ON Semiconductor Corp. also sounded alarms for the EV industry. Key Points
Economic TimesDollar edges up as US economic growth accelerates
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar was modestly higher against a basket of currencies on Thursday after data showed the U.S. economy grew at its fastest pace in nearly two years Key Points
ThePrintUS teen who assaulted, strangled teacher, sentenced for up to 40 years in jail
The student went to discuss his grades with his teacher Sade on April 7, 2022. He choked her from behind with a rope before, and later dropped a bookcase and filing cabinet on her, she earlier told investigators. Key Points
India TodayByju’s plans more job cuts to slash costs
The cost correction comes right on the heels of the company skipping a quarterly interest payment of about $40 million earlier this week on a $1.2 billion term loan B (TLB), which is the subject of litigation. Key Points
Economic Times
Status quo is not an option for Tata Steel UK: MD, TV Narendran
The Rishi Sunak-led government's earlier proposal barely covered a fifth of the estimated capital cost required at Port Talbot Steelworks, Narendran said. The company's European operations continued to be a drag on its consolidated financials. Edited excerpts: Key Points
Economic TimesSophie Turner deletes daughter's video on Instagram, admits her ‘honest mistake’
Sophie Turner issued a statement to admit her ‘honest mistake’ in posting her daughter's video earlier today. She also requested her fans to delete it. Key Points
Hindustan TimesWashington, DC’s Cherry Blooms Draw Crowds—and Climate Questions
The trees have blossomed earlier as the local weather has warmed. But experts are divided over whether it’s cause for alarm. Key Points
WIREDPM Modi's security breach during roadshow in Karnataka's Davanagere
Earlier today, a man tried to run towards his convoy during the rally. The man was later detained by police. Key Points
Economic TimesCarnatic vocalist Bombay Jayashri hospitalised in London, to undergo surgery
According to reports, she was found unconscious in her hotel in the UK and was then rushed to the hospital. A brain haemorrhage is suspected. Key Points
The Indian Express
'We don't need to be in a hurry to cut': Jerome Powell says Fed will wait for inflation to 'come in line'
Fresh inflation data released earlier is “pretty much in line with our expectations,” he said. But Powell reiterated it won’t be appropriate to lower rates until officials are confident inflation is on track toward their 2% goal. Key Points
Business TodayIndian scientists reveal how the first cells formed on Earth
A team of researchers at Scripps Research has discovered a pathway that could answer how the first protocells formed. It was a chemical process called phosphorylation that happened earlier than previously estimated. Key Points
India TodayIndians splurge big on festive season sales, buoying economy
Sales at online platforms like Amazon.com Inc., and Walmart Inc.-owned Flipkart was up by almost a fifth in the first week of the festive sales from a year ago. Digital transactions recorded by Unified Payments Interface surged about 40% in October from a year earlier. Key Points
Economic TimesAustralia, Brazil to grow Arhar dal for Indian consumers
Satish Upadhyay, executive committee member, IPGA, said, Australia had earlier done trial production in 2019 and the quality was good. However, it could not go ahead as the prices in India were not remunerative for them. Now they have again started work to grow pigeon pea for the Indian market. The sources, however, said that for the initiative to succeed, the Australian counterparts may like to get assured orders from the Indian government. Key Points
Economic TimesIndia's resilient economy seen expanding 6.7% in FY24
India's growth has remained largely resilient in the face of external headwinds, said Rahul Bajoria, managing director and head of EM Asia (ex-China) economics, Barclays. Last month's release of second quarter numbers led to a spate of forecast revisions for the fiscal year. Ratings agency Fitch expects the economy to grow 6.9% in FY24, compared with 6.5% projected earlier. Key Points
Economic Times
Why did protesters disrupt Jill Biden's speech at Human Rights Campaign dinner? Know in detail
Dozens of protesters gathered outside of the Fairmont Century Plaza Hotel in Century City, the venue. Jill Biden made an appearance at a fundraiser at the home of Dr. Patricia Gordon in Hancock Park. Key Points
Economic TimesTaylor Swift turns 34! Paparazzi wishes her Happy Birthday as she steps out with Blake Lively and friends:
Taylor Swift, who earlier celebrated with friend Selena Gomez, continued her birthday revelry with another close companion, Blake Lively. The duo, accompanied by friends, made a stylish entrance, stepping out of a luxurious sedan with an air of sophistication. Key Points
Economic TimesStocks in news: SBI, Coal India, ONGC, SpiceJet, RateGain Travel, BSE, Oberoi Realty
The government on Monday appointed Vinay M. Tonse as the Managing Director of the lender until November 30, 2025. Key Points
Economic TimesJockey India licensee posts Q2 profit fall on subdued demand
Page Industries (PAGE.NS), which licenses products of innerwear and loungewear brand Jockey International in India, reported a 7.3% fall in second-quarter profit on Thursday as inflation-hit consumers continued to cut back on spending. Key Points
ReutersSingTel profit jumps 83% in first half on Indonesia gain
Singapore Telecommunications (SingTel) (STEL.SI) reported an 83% rise in half-yearly profit on Thursday, helped by a gain related to regional associate Telkomsel's integration with IndiHome and higher contributions from its other divisions. Key Points
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Prudential Financial's third-quarter profit boosted by US unit growth
Prudential Financial (PRU.N) reported a rise in third-quarter adjusted profit on Wednesday, as the insurer's U.S. unit logged strong growth driven by higher net investment spread and lower expenses. Key Points
ReutersPharmacy staff from CVS, Walgreens stores in US plan 3-day walkout
Thousands of employees at CVS Health Corp (CVS.N) and Walgreens Boots Alliance's (WBA.O) U.S. pharmacies are planning a three-day walkout starting Monday, in an attempt to get the companies to improve working conditions and recruit more people, among other issues. Key Points
ReutersLazard quarterly profit misses estimates on dealmaking drought
Lazard (LAZ.N) on Thursday missed Wall Street estimates for third-quarter profit, as the independent investment bank's advisory business reeled from a prolonged slump in dealmaking. Key Points
ReutersDollar higher as US business activity ticks up in October
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar climbed against a basket of currencies on Tuesday as a slew of fresh economic data highlighted the strength of the U.S. economy relative to the Key Points
ThePrintIndia's September wholesale price index falls 0.26% y/y
India's wholesale price index (INWPI=ECI) in September fell 0.26% from a year earlier, according to government data released on Monday. Key Points
Reuters
Delhi official accused of raping late friend's minor daughter held
The Delhi Government has suspended its senior official Premoday Khakha with immediate effect following his arrest by the Delhi Police today for allegedly raping a minor. An order to this effect was issued by Chief Secretary Naresh Kumar. Key Points
The Tribune IndiaWall St slips, yields jump as US retail spending persists
By Dhara Ranasinghe and Pete Schroeder LONDON/WASHINGTON (Reuters) - U.S. stocks opened lower Tuesday while government bond yields remained higher, as stronger-than-expected U.S. retail sales data Key Points
ThePrintRetired teacher found murdered in Kurukshetra
The deceased has been identified as Nirmala Devi, who used to live with her husband Dev Raj. At the time of the incident, around 12.30 pm, she was alone at home as her husband had gone outside for some work. Police said their son had died earlier while their daughter lives in Mumbai Key Points
Hindustan TimesTruist misses profit estimates amid bigger credit-loss provisions
Truist Financial (TFC.N) missed estimates for second-quarter profit on Thursday, as the bank set aside more rainy-day funds to cover for potential defaults in a tough economy. Key Points
ReutersAmericans in Sudan must make their own arrangements to stay safe: US government
President Joe Biden had approved a plan earlier this week to move U.S. forces nearby in case they are needed to help evacuate American diplomats. | World News Key Points
Hindustan TimesWorld stocks dither, bond yields fall as recession worries weigh
By Naomi Rovnick and Kevin Buckland LONDON/TOKYO (Reuters) - Global stocks drifted on Thursday, following skittish trade in the Asian session, as traders awaited crucial U.S. jobs data that may add to Key Points
ThePrintRCap’s 2nd e-auction slated for April 4
IIHL’s confirmation saves RCap from a possible liquidation process. In case of no interest from bidders, the former Anil Ambani group company would face liquidation that would deplete the value of its assets. Key Points
FinancialexpressIndian economy gaining momentum since second quarter, emerges from pandemic stronger
RBIs economic research wing headed by deputy governor Michael Debabrata Patra argued that the sequential slowing down in successive quarters of 2022-23 is due to base effect. As for the data, Indias gross domestic product (GDP) for the October-December quarter moderated to a three-quarter low of 4.4%, according to data released by the ministry of statistics earlier in the month. Key Points
Economic TimesAmong 22 new ministers in Rajasthan govt, 6 Raje loyalists & BJP nominee for delayed Karanpur poll
17 new faces in Bhajanlal's council of ministers, including former MPs Rajyavardhan Rathore and Kirodi Lal Meena. Baba Balaknath, who was said to be CM contender, conspicuously missing. Key Points
ThePrint'Go First lenders yet to decide on bids, airline's revival likely to be delayed'
Both bidders had increased their bids earlier this month after initial scrutiny by lenders, necessitating an extension to complete negotiations, people familiar with the process said. The committee of creditors (CoC) will meet either this week or early next week to finalise the extension of the timeline since a few more days will be needed to scrutinise and finally decide on the bids that are currently on the table, said a person aware of the process. Key Points
Economic Times
Animal OTT release: Netflix to release extended cut of Ranbir Kapoor’s movie as legal dispute gets resolved
Netflix will release an extended cut of the Bollywood movie Animal. Director Sandeep Reddy Vanga earlier mentioned re-editing the movie for Netflix. Key Points
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