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Nvidia stock price plunged nearly 10% on Tuesday, witnessing the biggest ever single-day decline in market value for a US company, as investors’ optimism about artificial intelligence seem to be weakening. The AI heavyweight Nvidia shares tumbled 9.5% to $108 apiece on Tuesday and lost $279 billion in market capitalization, Reuters reported. This was the largest ever single-day fall in market value for a US company, indicating that investors are becoming more cautious about emerging AI technology Read More

The Indian primary market was in a lull for three long years from financial year 2019 to 2021. However, the spate of muted fundraising activity was finally shattered in FY2022, a historic year where fund mobilisation through mainboard Initial Public Offerings (IPOs) reached new highs. In that fiscal alone, there were at least 50 IPOs that together raised over Rs 1,10,000 crore. In light of the increased activity in the primary market in India, the Read More

Shares of Raymond gained 8.6 per cent to touch an intraday high of Rs 2180.85 on the BSE on Tuesday after the fabric and fashion retailer confirmed the news of the separate demerger and listings of its realty and lifestyle businesses. “Raymond Limited has demerged its lifestyle business to Raymond Lifestyle Limited (RLL) through a Composite Scheme of Arrangement and as per the said Scheme shares of RLL are expected to be listed soon,” the Read More

Capital markets regulator Sebi chairperson Madhabi Puri Buch said that if she participated in a discussion on real estate investment trusts (REITs) at a Confederation of Indian Industry event, it may result in accusations against her. She said, “Today, if I speak anything about REIT, I’m accused of conflict of interest.” This comes after the Sebi boss faced scrutiny after US-based short seller Hindenburg Research alleged that Madhabi Puri Buch had a conflict of interest Read More

Growth in the Indian manufacturing sector slowed to a three-month low in August, as firms saw softer growth in new orders and output. The headline Purchasing Managers Index (PMI) figure released by HSBC on Monday stood at 57.5, down from 58.1 in July. A figure above 50 in the index denotes expansion and that below signifies contraction. However, cost pressures moderated and supported the rise in purchasing activity as the rate of input price inflation softened Read More