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Fifteen years after leaving the Federal Reserve over disagreements on aggressive bond-buying policies, Kevin Warsh is set to return as chair of the U.S. central bank with a sweeping reform agenda, according to Reuters. Warsh has been a vocal critic of the Fed’s massive asset purchase programs that expanded its balance sheet to about $6.7 trillion.
Japanese investors became net sellers of foreign equities in April for the first time in four months, offloading 636.4 billion yen due to rising energy costs and inflation fears. Trust accounts led this sell-off, while investment trusts and life insurers continued to buy overseas stocks. This shift occurred as U.S. inflation accelerated, reinforcing expectations of prolonged high interest rates.
Honda Motor reported its first annual loss in almost 70 years, totaling 414.3 billion yen, due to U.S. tariffs and significant restructuring costs for its electric vehicle business. The automaker incurred over $9 billion in EV-related losses and anticipates further expenses, though it expects to return to profitability this fiscal year.
The Indian rupee is nearing the Rs 100 per dollar mark, driven by rising crude oil prices and foreign investor outflows. This depreciation fuels imported inflation, complicates RBI policy, and creates uneven impacts across equity sectors. Investors are advised to focus on resilient businesses as currency volatility persists.
Adani Enterprises shares surged over 5% following a substantial block deal worth Rs 1,435 crore. Despite a Q4 net loss, revenue climbed 20%, driven by infrastructure and utility segments contributing 80% of EBITDA. The company highlighted a stable, infrastructure-led business model poised for sustained cash generation and value creation.
Bagmane Prime Office REIT debuted on the NSE at Rs 103.50, a 3.5% premium to its IPO price, following a highly subscribed Rs 3,405 crore offering. The Bengaluru-focused REIT, backed by Blackstone, attracted significant investor interest, with its portfolio boasting high occupancy and marquee tenants like Google and Amazon.
Investors have until today to purchase shares in 12 companies, including SBI and IEX, to qualify for upcoming dividends, bonus issues, and stock splits. These corporate actions will become effective tomorrow, with eligibility determined by the record date. Several companies are offering significant dividends, while others are proceeding with bonus share issuances and stock splits.
U.S. health insurers posted strong first-quarter earnings, easing concerns over rising medical costs and claims pressures. Major players beat estimates, supported by better cost control and seasonal factors, though analysts remain cautious about whether the improvement signals a sustained recovery or a reprieve.
Indian markets face ongoing turbulence, with a slowdown imminent due to inflation and supply chain issues. Foreign investors are selling off, impacting the broader market. Pashupati Advani of Global Foray advises caution, highlighting opportunities in infrastructure, exporters, and pharma, while also suggesting that investors prioritize fundamentals and government spending priorities.
Shares of Bharti Airtel rose over 2% on Thursday despite a 34% YoY fall in March-quarter consolidated net profit to Rs 7,325 crore. Investors focused on strong operational performance, with revenue climbing 16% to Rs 55,383 crore. Growth was led by steady momentum in the India business and resilient Africa operations, while India revenue, including passive infrastructure services, rose 8% year-on-year.
TSMC has raised its long-term semiconductor industry forecast, projecting the global market to exceed $1.5 trillion by 2030, driven by artificial intelligence and high-performance computing demand. The company expects rapid growth in advanced chip production and is aggressively expanding manufacturing capacity across the US, Japan and Germany.
TVS Motor Company reported a 19% YoY jump in consolidated net profit to Rs 772 crore for Q4 FY26, with revenue rising 30% YoY to Rs 15,053 crore. Despite sequential profit decline, analysts from Morgan Stanley and Goldman Sachs maintain positive ratings, citing strong growth prospects. Citi, however, retains a 'Sell' call due to valuation concerns and potential cost headwinds.
Japan's Nikkei share average reached a record high for the third consecutive day, propelled by strong performance in the technology sector. Despite a broader market slump, tech shares mirrored Wall Street's gains, with companies like SoftBank Group reporting significant profit increases, though individual stock performance varied.
The government has banned all sugar exports, shifting policy from restricted to prohibited until September 30, citing tight domestic supply. The move is expected to impact sugar companies such as Balrampur Chini Mills and Dhampur Sugar Mills. India’s production is forecast to stay below consumption for a second consecutive year.
Social media influencer Dr Neelam Singh, popularly known online as ‘The Skin Doctor’, was arrested by Delhi Police over allegedly objectionable posts linked to the family of late businessman Sunjay Kapur. The arrest has triggered debate online, with public figures reacting to the development.
