Bitcoin experienced a 1.47% decline to reach US$29,858 in the 24-hour period ending at 09:00 a.m. in Hong Kong, although it remains up 5.13% for the week. The token briefly surpassed the US$31,000 mark on Friday before fluctuating above US$30,000 over the weekend. Ethereum also dipped by 0.40% to US$2,082. However, the token has shown a 12% increase over the past seven days.
Open FlipApple Inc's sales in India grew by almost 50% in the fiscal year ending in March. The revenue in India reached nearly $6 billion, up from $4.1 billion in the previous fiscal year. Apple increased its production of iPhones in India for around 7% of its total iPhone production, up from 1% in 2021. The company has also assembled more than $7B worth of iPhones in India in the last fiscal year.
Open FlipSince Ethereum's Shapella upgrade went live, over one million ether coins have been withdrawn, with the current price of ether hovering around $2,100. Data from token.unlocks shows that the total amount of withdrawn ether is 1.02 million coins, while the deposited ether since the Shanghai hard fork is 373,040 coins, resulting in a net staking balance of -646,210 coins.
Open FlipOn April 17, KIOCL Limited's stock increased by more than 12% as a result of the firm receiving two orders from the National Mineral Exploration Trust for mineral exploration in Karnataka totaling Rs 3.81 crore. Shares have returned more than 162% over the last three years. KIOCL's stock price was Rs 206 per share at 11.17 a.m., up 14.3% from the previous BSE close.
Open FlipPharmaceutical giant Merck has announced the acquisition of California-based biotech company Prometheus Biosciences for nearly $11 billion. The deal was confirmed through a definitive agreement, with Merck agreeing to purchase Prometheus for $200.00 per share in cash, totaling an equity value of approximately $10.8 billion, as stated in a Merck statement.
Open FlipBasketball legend Shaquille O'Neal has been served with a complaint at his home for his endorsement of FTX, a crypto exchange that has since gone bankrupt. Lawyers had been searching for O'Neal for 3 months before finally serving him with the complaint on a Sunday afternoon. The case was filed by an FTX customer from Oklahoma.
Open FlipITC increased more than 1% to 401.70 per share on the BSE on Monday, reaching a 52-week high ahead of its Q4 results. Analysts retain their "Buy" recommendation, remaining bullish on it. The index heavyweight has been one of the best D-St performers, increasing by around 19.81% YTD. The shares have increased by about 50% in the past year. The stock still carries upside on its back!
Open FlipCamlin Fine Sciences, a specialty chemicals firm, saw its stock surge by 14 percent in morning trading on April 17. This came after Infinity Holdings and promoter Ashish Dandekar launched an open offer to acquire an additional 26 percent stake in the company at Rs 160 per share, which implies a premium of over 5 percent compared to the previous day's closing price.
Open FlipA massive block transaction involving 54.30 million shares, or 5.6% of Zee Entertainment Enterprises Ltd., took place. The stock was trading flat at ₹208.20 from its previous finish. Per reports, Zee's 5.6% ownership by OFI Global China and other funds managed by Invesco Developing Markets Fund was going to be sold for the projected price range between ₹199.80 and ₹208.15.
Open FlipSega Sammy Holdings Inc, a Japanese company, has announced plans to make a $775.8 million offer to acquire Rovio Entertainment, the Finnish maker of the popular Angry Birds mobile game. The offer, at a price of 9.25 euros per share, represents a 19% premium over Rovio's closing price on Friday. Rovio confirmed that it was in talks with Sega regarding a possible tender offer.
Open FlipFollowing Infosys' 15% decline and a selloff in IT stocks, Indian markets fell more than 1% on Monday. After forecasting revenue growth at a six-year low in fiscal 2024 due to U.S. and European clients delaying investing, Infosys was down 11.5%, the biggest drag on the Nifty 50. With a 6.5% decline, the IT index was headed for its largest one-day loss since March 2020.
Open FlipRenowned investor Jeremy Grantham has issued a warning that the U.S banking crisis is not yet resolved, and that the world's largest economy is at risk of a deeper recession than previously anticipated. He said that the Fed's tightening measures could lead to further collapses similar to SV Bank. He predicts that the S&P 500 could drop by at least 25 to 27% to around 3,100 points.
Open FlipRecently, there have been numerous complaints on social media regarding claimed harassment by Bajaj Financial personnel through calls, messages, and emails. These accusations have focused in particular on the agents' allegedly coercive loan collection techniques. RBI has previously issued numerous warnings against these behaviours.
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Open FlipThough currency market bulls continued to buy the USD, the price of gold today remained over $2,000 per ounce on the international market, which led to bottom fishing in Indian markets as well. Although if there are some symptoms of little tiredness in the current rise for gold, and any further decline in the dollar index would lead gold to find support above ₹59,700/10 gm and then ₹58,500/10 gm.
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