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India’s 3,040 richest individuals hold Rs 104 lakh crore in wealth, nearly 30% of nominal GDP, highlighting growing wealth concentration. The latest report also shows rising participation from young entrepreneurs, women and first-generation founders alongside established business families.
Microsoft shares surged 16% after stronger-than-expected guidance, robust Azure cloud growth and rising Microsoft 365 Copilot adoption eased concerns over AI spending. The company also forecast healthy cash generation, reinforcing investor confidence in its long-term artificial intelligence strategy and cloud leadership.
US stocks opened higher on Thursday morning. Microsoft’s strong forecast eased investor concerns about AI spending. Major indices like the Dow and S&P 500 saw significant gains. The Nasdaq Composite also experienced a notable increase at the opening bell. Investors parsed fresh economic data after the Federal Reserve’s rate decision.
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Tata Steel reported a 15% year-on-year rise in Q1 consolidated net profit to Rs 2,318 crore, driven by higher revenue and stronger operating performance. Revenue grew 14%, while profit before tax increased despite higher expenses and exceptional restructuring-related charges during the quarter.
Ambuja Cements reported a profit drop, impacted by lower sales volume and higher costs. The company will now prioritize value over sales volume in its operations. Consolidated net profit decreased by thirty-seven percent year-on-year during the fiscal first quarter. Higher imported fuel prices and trade costs affected industry profitability significantly. Ambuja Cements remains confident of…
Hyundai Motor India reported a 35% decline in Q1 net profit, missing estimates as production disruptions and weaker Middle East exports hurt earnings. The company expects recovery from Q2 with production normalisation, new vehicle launches and Rs 7,500 crore planned capital expenditure.
Torrent Pharmaceuticals announced a robust profit after tax of Rs 566 crore for the first quarter, showcasing impressive growth. Revenue soared to Rs 4,921 crore, with Indian revenue up by nineteen percent and a significant thirty-six percent increase in US revenue. Meanwhile, Germany and Brazil experiences growth of three and twenty-seven percent, respectively. The strong…
The Bank of England decided to keep its benchmark interest rate steady at 3.75 percent. However, three policymakers have pushed for a possible hike amid rising tensions in the Middle East. With inflation expected to touch 3.2 percent later this year, projections indicate that rates will stay above target until early 2028. Thus, the central…
US stocks opened higher on Thursday morning. Microsoft’s strong forecast eased investor concerns about AI spending. Major indices like the Dow and S&P 500 saw significant gains. The Nasdaq Composite also experienced a notable increase at the opening bell. Investors parsed fresh economic data after the Federal Reserve’s rate decision.