Markets

Intellect Design Arena Appoints Deepak Dastrala as CEO of Purple Fabric Intellect Design Arena Ltd has announced the appointment of Mr. Deepak Dastrala as the Chief Executive Officer (CEO) of Purple Fabric, confirming his designation as Senior Management Personnel within the organization. The appointment is effective from June 7, 2026.Mr. Dastrala's appointment comes following a career history marked by deep involvement in technology innovation and leadership roles across various sectors. He holds a Bachelor of Engineering in Mechanical Engineering from the Vellore Institute of Technology (VIT), providing him with a strong foundation in systems thinking and problem-solving rigor.His professional journey spans nearly two and a half...

Manba Finance Expands Strategic Partnerships to Drive EV Adoption and Rural Financing Manba Finance Limited, a leading non-banking financial company (NBFC), has announced strategic partnerships with AMU Leasing Pvt. Ltd. and BRMP Leasing & Finance Private Limited (SHFIN). These collaborations are set to strengthen the NBFC's presence across electric mobility financing and rural lending segments across India.The partnership with AMU Leasing, an NBFC based in Gurugram and focused on electric mobility financing, will enable Manba Finance to support the financing of electric threewheelers and other commercial EVs. This collaboration will focus specifically on the states of Uttar Pradesh and Madhya Pradesh. The initiative aims to...

Three SME IPOs Set to Launch This Week as Mainboard Listing Excitement Builds While the broader equity markets remain subdued, the Indian primary market is witnessing healthy traction driven by a steady stream of new listings. This week sees three significant Initial Public Offerings (IPOs) hitting Dalal Street, all focused on companies from the SME segment. Meanwhile, investors should note that several high-profile listings are set to debut on the mainboard soon.Focus Shifts to SME IPOs and Upcoming Listings The IPO activity is predominantly centered in the Small and Medium Enterprise (SME) segment, with these offerings collectively aiming to raise Rs 159 crore. There are seven companies lined up for trading across various bourses...

APSEZ Secures 10-Year Marine Services Contract for Argentina's First LNG Export to India Adani Ports and Special Economic Zone Ltd. (APSEZ), recognized as India's largest integrated transport utility, has secured a significant marine services contract spanning ten years. The deal involves facilitating the first liquefied natural gas (LNG) export from Argentina to India, marking APSEZ's entry into the South American market and expanding its international marine logistics footprint.The contract was awarded to APSEZ's step-down subsidiary, The Adani Harbour International FZCO, through a consortium with the Meridian Group, which is based in Argentina. This achievement strengthens APSEZ’s position within international energy logistics...

Sensex Plunges as Crude Prices Surge Amid Geopolitical Risks and Rate Hike Jitters The benchmark equity indices saw a sharp selloff on Monday, tracking the decline across Asian markets. The S&P 500 was weighed down by a confluence of factors including rising crude oil prices, renewed tensions in the Middle East, and escalating fears surrounding potential interest rate hikes from the US. Investors appear highly risk-averse as commodity volatility intensifies globally.Market Indexes Slip Amid Global Selloff By the morning trading session, both major indices had registered declines. The Nifty 50 dropped by 1.22% to settle at 23,080.70. Similarly, the BSE Sensex lost 1.11%, registering at 73,421.61 as of 9:15 a.m.The downward trend in...

Bond Yields Remain Stable as RBI Measures Cushion Oil Price Surge Despite Geopolitical Flare-ups Government Bonds Open Steady Amid RBI's Policy Boost Government bond yields witnessed steady trading on June 8. The benchmark 10-year bond yield was flat at 6.9792 percent, following a marginal end of 6.9772 percent in the previous session. This stability comes as markets digest recent monetary policy decisions and heightened geopolitical tensions.RBI's Measures Bolster Investor Sentiment in Debt Market The Reserve Bank of India (RBI) maintained interest rates steady at 5.25 percent on Friday. Beyond this rate decision, the central bank introduced several measures designed to strengthen capital inflows into domestic markets. These measures...

CMR Green Technologies IPO Surges 127x, Cementing its Spot as a Market Resurgence Story Investor Focus Rewards Differentiated Business Models in Capital Markets Amidst a period where many major Initial Public Offerings (IPOs) are generating lukewarm enthusiasm, the subscription numbers for CMR Green Technologies signal a significant exception. The recycling-focused aluminum player successfully navigated this trend, with its Rs 631 crore public issue being subscribed at an astonishing 127 times.This valuation places CMR Green among those rare offerings to cross the 100x subscription milestone. Prime Database reported that the company attracted bids worth more than Rs 80,137 crore against the relatively modest issue size of Rs 631...

Nvidia CEO Calls Global Tech Selloff a 'Buying Opportunity' as AI Infrastructure Buildout Accelerates The global tech market is experiencing a significant correction, prompting NVIDIA CEO Jensen Huang to advocate that the ongoing selloff should be viewed not as a decline, but as an opportune moment for investors betting on the future of artificial intelligence. Industry leaders are emphasizing that they are only at the beginning of building foundational infrastructure that will power AI-fueled technologies globally.Jensen Huang: The AI Revolution is Just Getting Started Jensen Huang has repeatedly argued that Artificial Intelligence (AI) is set to revolutionize broad segments of the global economy, transforming how people live and...

Government Pledges Assured Power Deals to Surge Private Investment in India's Nuclear Energy Sector Nuclear Sector Set for Major Makeover as India Eyes Financial Incentives and PPAs India is actively formulating strategies to significantly boost private sector involvement in its nuclear energy landscape. This push forms a crucial part of the nation's expansive clean energy transition roadmap, Economic Times reports on Monday. The government is strategically preparing to offer financial incentives alongside assured Power Purchase Agreements (PPAs) to encourage greater industry participation.Preparing Roadmap and Stakeholder Consultation The Centre is focused on developing a comprehensive long-term strategy for expanding nuclear power...

Rupee Plunges to ₹95.32 Against Dollar as Israel-Iran Tensions Drive Crude Oil Prices Up Currency Weakens Amid Geopolitical Instability The Indian rupee depreciated by 37 paise on June 8, trading at ₹95.32 per dollar. This decline follows fresh tensions between Israel and Lebanon, which have significantly impacted global commodity markets.The local currency traded at this level compared to ₹94.95 per dollar in the preceding session. This movement occurred despite measures introduced by the Reserve Bank of India (RBI) aimed at stabilizing the rupee.Crude Oil Rises as Peace Prospects Diminish Brent crude prices spiked over the weekend, driven by renewed hostilities in the Middle East. The oil commodity is now trading slightly above...

Term Market Sees Massive Activity as RBI Manages Liquidity amid Reserve Positioning Money Market Segments Show High Volume in Terms The latest Money Market Operations report from the Reserve Bank of India (RBI) reveals substantial activity across both Overnight and Term market segments as of June 05, 2026. The aggregate volume for the Overnight Segment stood at ₹15,874.22 crore, with a Weighted Average Rate registered at 5.14 per cent.The Term Segment exhibited significant scale, recording an impressive volume of ₹5,29,767.85 crore in Triparty Repo operations alone. Market sentiment remains closely monitored through the defined ranges, with the Overnight segment reporting a rate range between 4.25 and 5.55 per cent.RBI Operations...

India Accelerates Global Index Bid After Overhauling Tax Regime and Expanding Bond Market Scope India is intensifying its push to secure inclusion of its sovereign debt in top global bond benchmarks, including the influential Bloomberg Global Aggregate Index. This strategy follows a significant series of domestic reforms aimed at making the country's debt market substantially more attractive to international investors.Officials from the Reserve Bank of India (RBI) and the finance ministry are expected to engage directly with major global index providers. Discussions are also anticipated with the Basel-based Bank for International Settlements (BIS), a prominent investor in government securities. The BIS recently received special...

GIFT Nifty Plummets as Global Tech Sell-Off Signals Weak Start for Indian Markets amid Geopolitical Fears Indian stock markets are poised for a difficult start to the week, with sentiment severely pressured by a global risk-off move. GIFT Nifty is registering a significant decline, sinking over 1% or 200 points, signaling a muted open across equity exchanges.The negative outlook is primarily driven by a sharp deterioration in global risk appetite, which has seen major technology-linked stocks come under intense scrutiny worldwide.Asian Equities Brace for Volatility as Tech Rally Fades Asia's markets saw significant jitters as investors paused the previous strong rally in AI and technology stocks. South Korea experienced intense...

Tata Trusts Scrutinize Massive Losses at Air India and Digital Ventures; Governance Battle Looms Before Crucial Board Meeting The trustees of Tata Trusts are set to hold a critical meeting on June 8, focusing on presentations covering some of the Group’s high-investment, loss-making ventures. These businesses include Air India and the ambitious digital endeavors managed by Tata Digital. The review comes just four days ahead of an important gathering of the Tata Sons board scheduled for June 12, which is expected to address key governance and leadership mandates within the conglomerate.Tata Trusts holds a collective controlling interest in Tata Sons and maintain the central oversight role in the Group’s governance structure. The...

Nvidia and SK Hynix Forge AI Mega-Pact: Securing Future of Memory Chip Dominance Nvidia Corp. has clinched a monumental multi-year partnership with SK Hynix Inc. This agreement signals a major strategic move in the fiercely competitive memory chip market, positioning SK Hynix as a crucial partner for next-generation AI development. The tie-up covers both the design and manufacturing of advanced chips, offering a significant boost to the South Korean firm amidst intense competition from industry giants like Samsung Electronics Co.Strategic Alliance for Next-Generation AI Hardware The partnership between Nvidia and SK Hynix involves deep cooperation across infrastructure and physical AI domains. Nvidia will leverage this alliance to...

GIFT Nifty Surges 100 Points, Signaling Strong Start for Indian Equities Amid Global Selloff and RBI Support Domestic Strength Counters Global Turmoil as GIFT Nifty Previews Rally Benchmark indices Sensex and Nifty are set for a positive opening on Monday, buoyed by the performance of GIFT Nifty. This pre-market indicator showed gains, suggesting that domestic equities might outperform despite a significant selloff observed across global stock markets. Investors are anticipated to scrutinize the Reserve Bank of India's (RBI) recent policy measures designed to bolster foreign inflows and reinforce rupee stability.GIFT Nifty traded at 23,195 in early trading, registering an increase of 98 points or 0.42 percent. This early strength...

Bearish Pressure Looms as Nifty 50 Battles Critical Support while Bank Nifty Eyes Key Resistance Breakout The Indian equity markets are navigating a period of intense volatility, driven by ongoing developments in global affairs and monetary policy shifts. While the Nifty 50 faced headwinds, closing at 23,367 after falling 50 points, the Bank Nifty showed considerable resilience, surging 188 points to reach 54,496. Both indices remain heavily range-bound, with the immediate focus shifting towards crucial support and resistance zones across both segments.Navigating Consolidation: The State of Nifty 50 The National Stock Exchange (NSE) recorded a weak market breadth on June 5, with 1,384 advancing shares countered by 1,615 declining...

SpaceX Revenue Soars to $18.7 Billion; Starlink Dominance Fuels Costly AI and Launch Infrastructure Bets SpaceX's extensive IPO roadshow deck has provided a deep dive into the finances of Elon Musk's company, revealing a powerful pivot toward connectivity and an ambitious push into artificial intelligence (AI). The presentation underscores that while the launch segment remains vital, it is Starlink’s rapid profitability that currently drives the massive capital investments across global connectivity and future AI infrastructure.Connectivity Engine: How Starlink Drives Revenue Growth The Connectivity division, which encompasses both Starlink broadband and satellite-to-mobile services, has emerged as a dominant earnings generator for...

Valuation Expert Slams SpaceX Prospectus: Is The $1.8 Trillion Price Too High? Valuation expert Aswath Damodaran has cast serious doubt on the prospective valuation of SpaceX as it prepares for public markets. Citing his own analysis, Damodaran suggests that the firm's estimated value of $1.8 trillion is "too richly priced." He maintains that his more conservative estimation places the equity in the company between $1.25 and $1.35 trillion, translating to approximately $100 a share instead of the prospectus figure of $135 per share.Damodaran noted that while gaining access to SpaceX's complete financials for the first time, his valuation barely shifted from his earlier estimate of $1.2 trillion. He stressed that the IPO filing largely...

India Nears Crucial US Trade Deal: Minister Goyal Defies Section 301 Tariff Threats and Outlines Global Strategy Commerce and Industry Minister Piyush Goyal has signaled that negotiations for an interim trade agreement with the United States are entering their final stages. This optimism comes despite ongoing concerns over proposed tariffs under Section 301 of the US Trade Act. The Ministry remains confident in safeguarding India’s interests and securing a favourable deal, which Goyal suggests could be finalized by July.The minister confirmed that U.S. Trade Representative Jamieson Greer is expected to visit India within the next two weeks for further discussions regarding the proposed trade pact. This move underscores the perceived...