Ajay Shah, EY’s partner and head of Technology, Media, and Telecom (TMT) investment banking, has stepped down and is set to join a financial services platform promoted by veteran stock market investor Madhu Kela, according to multiple industry sources. “The move has been in the works for several months. Shah is expected to take on…
Gujarat-based Torrent Pharmaceuticals has resumed acquisition discussions with private equity firm KKR to buy its 47.84% stake in JB Chemicals & Pharmaceuticals (JB Pharma), according to sources familiar with the matter. A formal agreement is expected to be signed soon. Torrent had previously entered into extended negotiations with KKR last year, but the deal fell…
India’s fintech sector is booming, driven by rapid digital adoption, strong government support, and a growing middle class. Amid this momentum, Infibeam Avenues has emerged as a key player, offering end-to-end e-commerce and payment solutions. On the back of this sectoral strength, Infibeam Avenues’ share price surged by 15% today, riding high on positive company-specific…
Asia-Pacific markets rose on Monday as investors focused on fresh economic data from China and ongoing geopolitical tensions between Israel and Iran. Oil prices surged and gold rallied after the weekend saw continued strikes exchanged between Israel and Iran, escalating concerns over regional stability. The move into safe-haven assets reflected investor caution amid the geopolitical…
The US dollar weakened and Treasury yields fell on Thursday, driven by expectations that interest rate cuts could come sooner than previously expected. The move came after a Wall Street Journal report said President Donald Trump could speed up the announcement of a new Federal Reserve chairman, who could replace Jerome Powell, possibly as early…
The Indian stock market ended higher for the second straight session on Wednesday, June 25, buoyed by positive global cues and easing geopolitical tensions, particularly the pause in hostilities between Iran and Israel. The S&P BSE Sensex rose 700.40 points (0.85%) to close at 82,755.51, while the NSE Nifty rose 200.40 points (0.80%) to close…
Adani Airports Holdings Limited (AAHL) has successfully closed a $1 billion funding round with participation from global investors, including funds managed by Apollo and BlackRock, as well as Standard Chartered. The proceeds from this investment are designated for the comprehensive development of Mumbai International Airport, encompassing modernization initiatives, capacity expansion projects, and the adoption of…
Gold emerges as top beneficiary from reserve diversificationEuro seen gaining in the short term; yuan poised for long-term rise As global trade fragments and geopolitical tensions rise, central banks managing trillions in foreign reserves are increasingly looking beyond the U.S. dollar. According to a report from the Official Monetary and Financial Institutions Forum (OMFIF), due…
KPIT Technologies shares dropped over 5% on Tuesday after the company released a cautious mid-quarter update, highlighting persistent uncertainty in the business environment. Shares of the Pune-based automotive IT firm declined as much as 5.11% on the BSE, hitting an intraday low of â‚ą1,319.70 despite an overall positive market trend. On the National Stock Exchange,…
The EUR/USD pair fell below the $1.15 mark on Monday as the U.S. dollar gained traction as a safe-haven asset. The move follows U.S. airstrikes on three Iranian nuclear facilities over the weekend, signaling America’s direct involvement in the escalating Israel-Iran conflict. Market participants are closely monitoring Tehran’s potential response. The dollar’s strength was further…
