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[ad_1] The Reserve Bank of Australia (RBA) lowered its benchmark interest rate by a quarter of a percentage point for the second time this year, bringing the cash rate down to 3.85%. This move follows a steady decline in inflation, which has now fallen within the bank’s target range.The RBA reduced the rate from 4.1%, continuing the easing that began with the first cut from 4.35% in February, Australia’s first rate reduction since October 2020. The bank, however, also warned of "considerable uncertainty" referring to the global response to US President Donald Trump's tariffs."These developments are expected to have an adverse effect on global economic activity," the bank's board stated, quoted by AFP. "Particularly if households and firms delay expenditure pending greater clarity on the outlook."This much-anticipated decision came at a time when optimism had slightly faded due to recent […]

[ad_1] Shares of battery maker CATL or Contemporary Amperex Technology Co Limited, soared more than 13%, after the company’s debut in Hong Kong’s stock market on Tuesday. The company raised a whopping $4.6 billion, making it the biggest initial public offering anywhere in the world so far this year.CATL is a global leader in electric vehicle battery manufacturing, producing more than a third of all EV batteries sold worldwide. The company’s secondary listing in Hong Kong comes as it ramps up efforts to expand globally, especially across Europe.The stock jumped to a high of HK$299.80 during morning trading, recording a 13.7% rise from its listing price of HK$263.00. Expansion CATL is already listed on the Shenzhen Stock Exchange in southern China, and its secondary listing in Hong Kong was announced last December. The funds raised from the Hong Kong listing […]

[ad_1] Domestic equity markets showed consolidation for two consecutive sessions following last week's strong rally. (AI image) Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Tuesday. While Nifty50 went above 25,000, BSE Sensex was above 82,000. At 9:21 AM, Nifty50 was trading at 24,947.20, up 2 points to 0.0070%.BSE Sensex was at 82,088.06, up 29 points or 0.035%.Domestic equity markets showed consolidation for two consecutive sessions following last week's strong rally. US stocks concluded Monday nearly flat as market confidence declined following the downgrade of the government's pristine sovereign credit rating due to substantial debt levels.Regional Asian equities increased for the first time in four sessions. The US currency remained stable on Tuesday following a week of decline.Gold prices decreased on Tuesday, as strengthening dollar and positive developments regarding potential Russia-Ukraine peace […]

[ad_1] Top stocks to buy today (AI image) Stock market recommendations: According to Somil Mehta, Head - Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, Dabur and Gail are the top stocks to buy today:Dabur – Buy in the range between Rs 480 & Rs 488; Stop Loss: Rs 467; Target: Rs 519Dabur has broken out of a downward slopping trend line and expected to resume the uptrend. Momentum indicators has also given a positive crossover below the zero line. The stock has been consolidating in a broad range since last month and has closed above 20 daily moving average i.e.477, resuming the up trend today. The stock is excepted to continue the up trend till the previous swing high i.e. 519. Key resistance is 494 & 519 and support is at 477 and 467.Gail – Buy in the range […]

[ad_1] Realty major DLF Ltd's consolidated net profit rose 39 per cent year-on-year to Rs 1,282 crore for the January-March quarter of FY25, supported by higher revenue and robust demand for premium homes.For the full fiscal year 2024-25, the company reported record sales bookings of Rs 21,223 crore, up 44 per cent from Rs 14,778 crore in the previous year, led by strong pre-sales in its ultra-luxury project 'The Dahlias' in Gurugram.DLF's total income during the January-March quarter rose to Rs 3,347.77 crore from Rs 2,316.7 crore in the same period last year. For the full fiscal, net profit climbed to Rs 4,366.82 crore from Rs 2,723.53 crore, while total income increased to Rs 8,995.89 crore from Rs 6,958.34 crore in FY24, PTI reported.The board has recommended a dividend of Rs 6 per equity share (face value of Rs 2 […]

[ad_1] NEW DELHI: Elon Musk's Starlink looks set to clear the final regulatory hurdle for beginning satcom services in India. IN-SPACe, the nodal agency under the department of space (DoS), is likely to grant approval to the company for launching commercial satellite broadband services.The inter-ministerial standing committee of IN-SPACe (Indian National Space Promotion and Authorisation Centre), which includes members from the DoS, I&B, DoT, MHA, MEA, and commerce and industry ministries, will be taking up Starlink's agenda in its next meeting."Broadly, the approval for satellite will be given to Starlink as the ministries of home and external affairs - which are the key decision-makers on matters of security and geopolitical situation - have already approved the company's proposal at the department of telecom (DoT)," a top source told TOI.The DoT issued a letter of intent (LoI) to Starlink on May […]

[ad_1] Hon Hai Precision Industry Co., the main manufacturer of Apple Inc.'s iPhones, will inject $1.5 billion into its India unit as production shifts away from China.The Taiwan-based company said in an exchange filing on Monday that it had made the investment through its Singaporean subsidiary. Hon Hai, which is building new plants and adding production capacity in southern India, didn't immediately respond to an emailed request for comment.Apple is looking to import most of the iPhones it sells in the US from India by the end of next year, drawing the wrath of US President Donald Trump, who said last week he'd asked Apple CEO Tim Cook to stop building plants there.Trump's comments accelerate a shift beyond China to mitigate risks related to tariffs and geopolitical tensions. Apple makes most of its iPhones in China and has no smartphone […]

[ad_1] MUMBAI: Sebi has threatened two Mauritus-based funds with investments in the Adani Group that they could face penalties and cancellation of licences for not sharing shareholding details despite repeated requests over two years, according to a document reviewed by Reuters.The Adani Group and its 13 offshore investors have been facing an investigation by the Sebi, since Hindenburg Research in 2023 alleged improper use of tax havens by the group, triggering a stock sell-off. The group has repeatedly denied wrongdoing, and its shares have since recovered.Regulations require at least 25% of shares of listed companies be held by public shareholders, but Hindenburg alleged the Adani Group breached those rules since some offshore funds with Adani company holdings were related to the conglomerate.Two Mauritius-based Elara funds - Elara India Opportunities Fund and Vespera Fund - had been asked since 2023 to […]

[ad_1] MUMBAI: State Bank of India has cut fixed deposit rates by 20 basis points across all tenors for both the general public and senior citizens from May 16. The move follows a 25 bps repo rate cut by RBI in April and comes ahead of another expected cut in June.RBI also infused nearly Rs 5 lakh crore of liquidity into the system, lowering funding costs. HDFC Bank already reduced rates, and SBI's move is expected to prompt more lenders to follow.This is the second deposit rate revision by SBI during the current fiscal. The country's largest bank cut its deposit (fixed deposit) rates first on April 15 by up to 25 basis points. For the general public, SBI's FD rates now range from 3.3% for 7-45 days (earlier 3.5%) to 6.3% for 5-10 years (earlier 6.5%). Senior citizen rates […]

[ad_1] MUMBAI: Instant beverage maker Rasna on Monday announced that it has acquired the brand Jumpin from Hershey's India for expanding into the ready-to-drink category. Rasna did not disclose the amount it has paid for the 100% acquisition of the brand. However, it indicated that independent agencies have valued the brand at Rs 350 crore. Piruz Khambatta, Rasna's chairman, said the company has acquired only the brand from Hershey's and not the manufacturing asset.It will be using the same manufacturing facility going ahead. [ad_2] Source link