Saturday, November 30
Viacom18, the broadcasting unit of Mukesh Ambani, is set to lease a 400,000 square feet headquarters in Mumbai from Nucleus Office Parks, owned by Blackstone. The new headquarters will have approximately eight floors and will consolidate all of Viacom18's business units. The move is expected to be completed by December.
Passenger grievances related to catering services on Vande Bharat trains prompted this action by the Board. Passengers will receive SMS notifications offering the option to book food and information about available food services.
JSW Infrastructure, a part of the JSW Group, has raised Rs 1,260 crore from anchor investors ahead of its IPO. The company allocated 10.58 crore equity shares to 65 funds at Rs 119 apiece. The public issue, with a price band of Rs 113-119 per share, will open for subscription from September 25-27.
Apple's share of exports soared from just 9% of the roughly 8 million smartphones shipped in Q2 2022, to almost half the total smartphone exports in Q2 2023, a report said. Meanwhile, exports from other Android brands such as Xiaomi, Motorola, Vivo, and Transsion witnessed a decrease, sliding from 10% in the first quarter of 2023 to 6% in the second quarter of 2023, the report said.
European Trade Commissioner Valdis Dombrovskis will visit China to discuss reducing restrictions on European businesses. The visit comes shortly after the EU announced an investigation into Chinese electric car imports, which may result in punitive tariffs. The EU aims to renew dialogue with China following the COVID-19 pandemic and growing concerns over China's ties with Russia.
HDFC Bank's shares dropped by 4% on Wednesday after the bank disclosed in an analyst day presentation that its net worth had been impacted by Rs 20,000 crore due to the merger with HDFC. The share price fell by Rs 65 to Rs 1,560, resulting in a market value loss of nearly Rs 50,000 crore. This announcement prompted analysts to lower their target prices for the bank's stock.
Both of India's stock indices, the Sensex and Nifty, on Wednesday extended their bearish trend, following losses incurred in the previous session. The BSE benchmark Sensex initiated the trading day with a substantial decline of more than 600 points, currently standing at 66,985.36. Meanwhile, the Nifty index slipped below the critical 20,000-point threshold, now trading at 19,968.
The Federal Reserve has decided to keep its primary interest rate unchanged at 5.25%-5.5% in an effort to achieve a "gentle landing" for the US economy. The central bank aims to cool down inflation without causing a severe recession. The Federal Reserve has been implementing a series of interest rate hikes since March 2022 to slow down the economy and rein in inflation. While progress has been made, certain service costs are still increasing at a higher rate than before the pandemic.
