Tue, Oct 1, 2024 4:56 PM
Explained: Why brokerages are divided on Indian IT sector
A Flip by Avya Verma
Zomato will make history on Monday as the first new-age tech stock to be included in the prestigious BSE Sensex, replacing JSW Steel in a half-yearly rebalancing of constituents. This signals a significant shift in the Indian business landscape. While the rejig is routine, Zomato's inclusion in the club of India's most influential companies underscores the growing prominence of the digital sector.
Open Flip
One of China’s leading developers is now on authorities’ radar for default risk. A major Hong Kong builder is asking lenders to extend loans. Another industry peer is selling an iconic but largely empty mall in Beijing. As China’s property debt crisis enters its fifth year, there’s little indication that distressed developers are finding it easier to repay debt as a slump in home sales continues.
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Donald Trump has transferred all his stake in Trump Media & Technology worth over $4 billion to a revocable trust of which he is the sole beneficiary. In November, Trump said that he had no intention of selling his shares in the company, which owns the Truth Social media platform. The company was listed on NASDAQ in March 2024.
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