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Nvidia Corp has forecast its Q2 revenue to be more than 50% above expectations, crediting strong demand for its AI chips, which are used to power chatbots, among other services. The announcement sent shares in the listed semiconductor company, which is worth over $950bn, soaring 28%. The new popularity of AI platforms led CEO Jensen Huang to disclose that Nvidia began full production of its latest AI chips in last August, enabling it to partially avoid chip shortages for apps like chatbots; full production supplies absorbed the steep new demand seen in January.

Equity markets ended lower on Wednesday, led by selling in metal and financial stocks. Analysts said that without clear cues from global markets, participants are hesitant to make big moves. However, several individual stocks outperformed, including Mahindra CIE Automotive, Dixon, and Elgi. Technical analyst Rohan Shah recommends buying all three stocks. Elgi is expected to continue upward momentum towards 625 levels in the short term and possibly hit 700 levels in the medium term. For Mahindra CIE Automotive, the support comes near 435 while the level of 540 is anticipated to act as resistance on the higher side. Dixon has broken out of the symmetrical triangle pattern with high volumes and is expected to do well going forward.

Promoters held 75.0 per cent stake in the company as of 31-Mar-2023, while FIIs owned 2.4 per cent, DIIs 5.49 per cent.

Hindalco Industries posted a 48% fall in its standalone net profit at Rs 832 crore for the quarter ended March. Revenue from operations during the quarter increased 5% to Rs 19,995 crore.

Oil prices rose as U.S. oil and fuel inventories reduced causing speculation over further OPEC+ output cuts. Industry data revealed a decline of 6.8 million barrels in crude inventories in the week to May 19 along with 6.4 million drop in gasoline inventories. Distillate inventories were down 1.8 million. Confirmation of these figures in data from the Energy Information Administration would mean a third straight weekly decline in U.S. gasoline inventories to the lowest levels since 2014 pre-Memorial Day. OPEC+ production cuts are set to take effect this month. However, some investors remain cautious about US debt ceiling discussions.

The absence of a country strategy poses challenges to project performance, Muthoo said in an interview with ET, even after expressing satisfaction over the execution of the first project his office evaluated in India. The New Development Bank, earlier called BRICS Development Bank, was set up in 2015 to finance public and private projects through loans, guarantees and equity participation.

A committee will be set up soon to draw up the framework, said the people cited above. It will detail the process of approaching borrowers, the documents to be submitted and reports to be given to them, along with timelines and the course of action.

Maharashtra, Gujarat, Tamil Nadu, Karnataka and Uttar Pradesh together accounted for 43.1% of the total ATM cash replenished by CMS Info Systems across the country. Incidentally, these are the top 5 states with maximum gross state domestic product (GSDP) in fiscal year 2022, according to CMS Infosystems.

The association, which represents 77 domestic and foreign institutional investors who collectively own 10.15% of the DTH company, had on May 15 written to the Dish TV board to convene an EGM within the stipulated 21 days. It also called upon the ministry to initiate "stringent" measures against Dish TV directors for their multiple alleged violations of the Companies Act.

The company had reported profit of ₹2,371 crore in the corresponding quarter in the previous year. The board has proposed a dividend of ₹3 per equity share (face value ₹10 each) for the FY 2022-23, resulting in dividend payout of ₹1,897 crore.