Indian Hotels Company Limited anticipates a year-long recovery for its Dubai hotels due to the Middle East crisis, though domestic business remains robust. Despite this, the company is on track for 12-14% topline growth, driven by its expanding capital-light management fee business and a strong pipeline of new hotel openings globally.
SpaceX shares are rising for a fourth day, solidifying its position as a global giant. The company has surpassed Amazon in market value, becoming the fifth-largest stock worldwide. This rally shows strong demand following its record IPO. Investors anticipate future IPOs from AI rivals. Key economic and geopolitical events are also on the horizon.
Polycab India gained up to 4% after Jefferies raised its target price to Rs 10,920 and reiterated its Buy rating. The brokerage cited market share gains, data centre opportunities, a healthy order pipeline, diversified revenue streams and strong earnings growth expectations despite the stock’s sharp rally this year.
Cyient shares fell sharply on Wednesday after the stock turned ex-record date for its Rs 720 crore share buyback at Rs 1,125 per share. Investors purchasing shares after the record date will not be eligible to participate. The company’s first buyback since 2019 comes amid mixed operational performance and cautious analyst outlook.
CarTrade Tech shares rallied after the company launched CarTrade Used Auto, a new platform targeting India’s fragmented used-car market. Integrating CarWale and OLX India, the initiative spans buying, selling, financing and ownership transfer, while leveraging AI tools and tapping into the sector’s long-term growth opportunity.
HCLTech strategically invested $1.5 billion in Indian AI startup Sarvam AI, acquiring a 10.5% stake. This partnership aims to address enterprise AI adoption barriers through hybrid models combining private and frontier AI, while also capitalizing on the growing sovereign AI market in India and globally.
Vedanta Power shares rebounded after two days of declines following their stock market debut post the Vedanta demerger. The company crossed its listing price amid investor interest and aims to become one of India’s top private thermal power players through expansion and operational growth.
Dixon Technologies shares surged rose sharply on Wednesday after reports suggested the government may approve its long-pending joint venture with Vivo this month. The proposed JV, in which Dixon will hold a majority stake, is expected to strengthen smartphone manufacturing capabilities in India while reducing Vivo’s regulatory risk exposure in the market.
Brigade Enterprises shares appeared to plunge 22% on Wednesday after adjusting for its 1:3 bonus issue, but the decline was purely technical and did not erode shareholder value. After opening at the adjusted price of Rs 559.70 against the previous close of Rs 720.25, the stock rallied about 10% to an intraday high of Rs 595.95. The company had announced its first bonus issue in nearly seven years, granting one bonus share for every three shares held as of the June 17 record date.
Former Fed governor Kevin Warsh, if elevated to Federal Reserve Chair, faces his first major test amid heightened market sensitivity to US monetary policy direction. Investors are closely watching his stance on interest rates, inflation control, and growth balance. His decisions could shape global liquidity trends, bond yields, and equity market sentiment at a time of economic uncertainty.
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