Indian equities experienced a significant downturn on Thursday, breaking a three-day winning streak due to escalating West Asian tensions and a global risk-off sentiment. Analysts suggest markets are highly fragile, with geopolitical developments and rising crude prices dictating sentiment. The India VIX surged 22% to 22.80 levels, reflecting increased market fear.Read More
Encube Ethicals has halted plans for a majority stake sale due to a valuation gap, with potential buyers offering up to $1.6 billion against the company’s $2 billion target. Instead, the pharmaceutical firm is now eyeing an Initial Public Offering by 2027. Existing investor Quadria Capital is expected to participate in the public offering for a partial exit.Read More
Indian tax authorities are pushing foreign portfolio investors (FPIs) to designate a ‘representative assessee’ for tax default engagement. This move, following an incident with Jane Street, has raised concerns among FPIs and custodians about potential liabilities. Discussions are ongoing between tax bodies, SEBI, and financial institutions regarding the implications for nominated individuals.Read More
Indian equity benchmarks experienced their steepest single-day drop in nearly two years, plummeting over 3% on Thursday. Attacks on West Asian oil and gas infrastructure fueled inflation concerns, while HDFC Bank’s sharp decline added further pressure. The Nifty closed below 23,000, and the Sensex fell significantly, wiping out recent gains and impacting market capitalization.Read More
Micron’s shares dropped more than 4% before the bell on Thursday, as the chipmaker’s plans for heftier capex spending unnerved investors, taking the shine off another round of AI-fueled blockbuster quarterly earnings.Read More
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