Billionaire Anil Agarwal’s Vedanta fell short of meeting its initially targeted proceeds from an offer for sale (OFS) in group entity Hindustan Zinc, with the exercise netting ₹3,100 crore for the resources conglomerate that had first sought to garner up to ₹6,500 crore in stake dilution but later reduced the OFS size. Vedanta sold 63.6 … Read more
The share of mid-cap and small-cap companies in India’s total market value hit the highest level in May, boosted by the unabated appetite for these shares among domestic investors. This, however, warrants caution, said fund managers, who warned that the sharp run-up in these shares may be excessive for now. According to a study by … Read more
Hyundai Motor India Ltd.’s plan for one of India’s largest share sales may further boost valuations for the nation’s already-buzzing automakers. The listing may value the South Korean carmaker’s Indian unit at $25 billion, Bloomberg News reported previously. That would make it the nation’s fourth biggest automaker by market value, a milestone analysts say bodes … Read more
Nvidia’s shares rallied around 6% to hit a record high on Tuesday, leaving the AI chipmaker’s stock market value about $100 billion away from overtaking Apple in a major reshuffle of Wall street’s biggest players. Last trading at $1,128, Nvidia’s market capitalization reached $2.8 trillion, compared to a market value of $2.9 trillion for Apple, … Read more
Toyota reported record annual net profit of more than $30 billion on Wednesday but the world’s largest automaker by sales warned that the current year would be less spectacular. Helped by a weak yen and strong hybrid vehicle sales, the Japanese giant’s bottom line doubled to 4.94 trillion yen ($31.9 billion) in the year to … Read more
Nvidia briefly hit $2 trillion in market value for the first time on Friday, a day after adding $277 billion in stock value. Thursday’s M-Cap rally by Nividia was Wall Street’s largest one-day gain for a single company in history after the heavyweight chipmaker’s quarterly report beat expectations and reignited a rally fuelled by optimism … Read more
Mumbai: The selloff in shares of state-owned companies on Tuesday resulted in their total market value eroding ₹2.41 lakh crore in a single day. Following the state election results on December 3, the market capitalisation of public sector companies has gained more than ₹10 lakh crore till Saturday. The losses incurred on Tuesday represent almost … Read more
Meta Platforms Inc. shares closed at their first record high in more than two years on Friday, as the Facebook parent fully recovers from a selloff that at one point had erased more than three-fourths of its value. The stock rose about 2% to $383.45, surpassing an all-time high that has stood since September 2021. … Read more
For more than a decade, Apple was the stock market’s undisputed king. It first overtook Exxon Mobil Corp. as the world’s most valuable public company in 2011 and held the title almost without interruption. But a transfer of power has begun. On Friday, Microsoft surpassed Apple, claiming the crown after its market value surged by … Read more
