In today’s edition, we take a look at US President Donald Trump’s year-end address and break down what SEBI’s new mutual fund cost framework mean for investors and track stock market movements with focus on TCS, Meesho, and Ola Electric this morning.
India ‘highly strategic potential partner’ in supply chain security-related efforts: US
The US views India as a “highly strategic potential partner” in supply chain security-related efforts and welcomes the opportunity to engage with the country, following New Delhi’s exclusion from a recently launched Washington-led initiative on silicon supply chain.
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Trump lists his administration’s successes on migration, ending wars in year-end address to nation
US President Donald Trump touted his administration’s successes on immigration and in ending eight wars as he listed the various accomplishments of his second term in the White House in a year-end address to the nation.
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Meesho shares fall 10% from highs after doubling from IPO price, hitting ₹1 lakh crore market cap
Shares of Meesho Ltd. fell as much as 10% from their intraday high on Thursday, December 18, giving up all the gains from the start of trade. The initial intraday gains took Meesho’s shares past 100% returns from their IPO price of ₹111. During this move, the company also crossed ₹1 lakh crore in market capitalisation.
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Wobble in US AI stocks may benefit India, says Geosphere Capital’s Arvind Sanger
Amid cautious sentiment across Asian markets following a wobble in the US artificial intelligence (AI) trade, Arvind Sanger, Managing Partner of Geosphere Capital Management, offered a nuanced view on why a cooling of AI-led exuberance could ultimately work in India’s favour.
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Sun Pharma shares under pressure after the USFDA flags a key unit
Shares of Sun Pharmaceutical Industries Ltd. are trading 2.4% lower on Thursday, December 18, after the US Food and Drug Administration classified the company’s Baska facility as an Official Action Indicated, or OAI.
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India, Oman set to sign FTA during PM Modi’s visit today
India and Oman are set to sign the India-Oman FTA during Prime Minister Narendra Modi’s visit to the gulf country on Thursday, December 18. PM Modi is in Oman for the last leg of his three-nation tour that covered Jordan and Ethiopia.
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SEBI’s new mutual fund cost framework: What changes for investors
The Securities and Exchange Board of India’s (SEBI) latest changes to mutual fund expense rules are expected to improve cost transparency for investors, even as they introduce operational adjustments for asset managers and distributors.
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Ola Electric shares fall for third day after founder Bhavish Aggarwal sells more shares on Wednesday
Shares of Ola Electric Mobility Ltd. fell another 2% on Thursday, December 18, after founder Bhavish Aggarwal sold an additional 4.2 crore worth of company’s shares in the open market on Wednesday, December 17.
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PNB scam: Belgium’s top court rejects Mehul Choksi appeal, clears path for India extradition
The highest court of Belgium — Court of Cassation– has rejected the appeal of fugitive diamantaire Mehul Choksi against India’s extradition request, while endorsing a lower court’s view that there are no grounds for his claims of flagrant denial of justice, torture or inhuman and degrading treatment in India, according to the order released on Wednesday.
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Seagull with Chinese GPS tracker found on Karnataka coast: What we know
A migratory seagull with a Chinese-made GPS tracking device was found injured on the Karwar coastline in Karnataka’s Uttara Kannada district, close to the INS Kadamba naval base. The discovery was made on Tuesday by the Coastal Marine Police Cell at Rabindranath Tagore Beach, sparking curiosity and concern among locals and security agencies.
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Maharashtra to decide on Ola, Uber, Rapido bike taxis after 36 police cases filed
Maharashtra Transport Minister Pratap Sarnaik on Wednesday said the State Transport Authority will take a decision about the bike taxi aggregators found violating rules, and said his department has so far filed 36 complaints against the erring operators.
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