Global Market Today: Asian shares rise as chipmakers gain, oil climbs

Asian shares advanced as regional chipmakers gained on artificial intelligence buildout expectations. Oil extended its rally after Houthi militants targeted Saudi Arabian tankers in the Red Sea. Alphabet Inc. raised its capital spending significantly, impacting US equity futures negatively. Investors are scrutinizing megacap earnings for AI return on investment signs. Geopolitical tensions and rising energy…

Benchmark indices fall amid rising crude oil prices and West Asia conflict

India’s benchmark indices ended lower on Wednesday, as crude oil prices increased. The Nifty50 and Sensex experienced significant drops, falling below key levels. Midcap and smallcap stocks also saw declines, reflecting broad market weakness. Most sector indices ended in negative territory, except for FMCG and Auto. Brent crude oil prices rose, impacting investor sentiment across…

Nestle India extends rally on stellar June quarter, higher costs may limit upside

Nestle India shares reached a record high after a strong June quarter performance. Revenue growth accelerated significantly year-on-year, reaching 25.2 percent. However, operating margins moderated sequentially due to increased advertising investments. Exports also showed steady growth, driven by market penetration and product additions. The company anticipates continued healthy demand supported by premiumization and innovation.

MSEDCL appoints 8 bankers for Rs 10,000 crore IPO

Maharashtra State Electricity Distribution Co has appointed eight investment bankers for its proposed initial public offering. This significant issue could potentially raise between eight thousand and ten thousand crore rupees. The offering will mark the first-ever IPO by the Maharashtra government and a state-run discom. Mahavitaran, the brand under which MSEDCL operates, will be listed….

External sectors steady despite geopolitical uncertainties: RBI

India’s external sector shows steady improvement, boosted by foreign investment inflows. The economy remains strong despite global uncertainties and trade disruptions. Foreign exchange reserves provide ample cover for imports and external debt. Exports and imports saw strong growth in the first quarter of this fiscal year. Bilateral trade agreements will further enhance India’s external trade…

Mauritius tax protocol to give Indian taxman more powers to probe offshore entities

Mauritius cabinet ratified a tax protocol granting Indian officials more questioning powers. This allows direct challenges to offshore entities suspected of tax evasion. The principal purpose test will deny treaty benefits if tax avoidance is a primary aim. This change follows the Tiger Global verdict and strengthens genuine substance requirements. The protocol aims to ensure…