Reuters Financial News

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'Kudlow' panelists Steve Forbes and Sandra Smith discuss preserving the U.S. dollar.

small cap stocks have run up too much, thus entering the dangerous territory, mutual fund houses and market regulators have started to get circumspect. While some fund houses such as Kotak Mutual Fund have imposed restrictions on lump sum investment in their small cap fund; markets regulator Sebi — at the same time — has introduced stress tests for the fund houses to undertake amid growing concerns about valuations of small cap stocks. The Securities and Exchange Board of India has reportedly asked the mutual fund houses that operate smallcap funds with a large corpus to share data on their holdings in the total free float of smallcap stocks, reported Reuters.

Lilly expects to launch Mounjaro, its blockbuster diabetes drug and a wildly popular obesity treatment, in India as early as next year, CEO David Ricks told Reuters on Wednesday. The market opportunity is huge in the world's most populous country, which has high obesity rates, especially among women, and the second-highest number of people with type-2 diabetes globally. Indian drugmakers are making their own versions of such drugs, while illegal versions are also sold online. «We're open to any way to reach more patients as long as it makes sense for the company and we can supply the market,» Ricks said when asked if Lilly was open to authorised generic versions of drugs containing tirzepatide, the active ingredient in popular diabetes and weight-loss drugs.

Moses Singer LLP partner Howard Fischer tells ‘The Claman Countdown’ that both sides in Sam Bankman-Fried’s case will ‘make good arguments.’

Nifty gave up its hold over the 22,000 level while Sensex fell around 800 points or 1% to the day's low at 72,300 on Wednesday. The sell-off was deeper in the broader market where midcaps, smallcaps and microcap indices fell around 2% each. In the process, Dalal Street investors were left poorer by about Rs 6 lakh crore as the market capitalisation of all BSE-listed stocks fell to Rs 386 lakh crore. Nifty has been consolidating in a sideways move but consistent closure above 22,000 for eight consecutive sessions had suggested a prevailing positive trend. Technical analysts believe that if the breakout below 22,000 sustains, it could trigger a directional move on the downside.

Also Read Govt to rope in PSUs for solar rooftop initiative; households can get rent According to the latest government data, power consumption in the country has risen to 1354.97 billion units (BU) during the April-January period of this fiscal year, marking a 7.5% increase from 1259.49 BU recorded during the same period in fiscal year 2022–23. The significant increase in power demand has prompted the government to revise its projections for electricity consumption. Also Read: Best renewable energy stock: KP Energy vs Inox Wind Last year, peak demand soared to 243 gigawatts, exceeding initial projections of 229 gigawatts by the power ministry.

coal imports are expected to fall for the first time this year since the COVID-19 pandemic due to increasing domestic output and record-high inventories, industry officials said on Tuesday. Out of eleven coal traders, Reuters spoke with at the Coaltrans India conference in the western state of Goa, eight expected shipments of the fuel to decrease this year, while the others foresaw flat imports or marginal growth.

merger of Reliance Industries and Walt Disney's Indian media assets, Reuters reported citing sources. Reliance Industries (RIL), under the control of the Ambani family, and Disney are on the verge of finalising their merger deal for the Indian media assets, a project in the works for several months. An official announcement is expected later today, the sources added.

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U.S. dollar held steady as traders brushed off durable goods data overnight and awaited the Federal Reserve's preferred measure of inflation due Thursday for clues on when the U.S. central bank may start cutting interest rates. The Reserve Bank of New Zealand's (RBNZ) interest rate decision later in the Asian morning also has market participants on edge, with the New Zealand dollar calm ahead of what could turn out to be a significant policy meeting.

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PlayStation unit and shut down a London-based studio, Reuters reported. The decision comes in response to the ongoing challenges faced by the videogame industry in the aftermath of the post-pandemic slump, it added. The job cuts will affect around 8 percent of the division's workforce spanning regions from the Americas to Asia.

Sensex gained 305.09 points, or 0.42%, to close at 73,095.22, while the Nifty 50 settled 76.30 points, or 0.34%, higher at 22,198.35. “Domestic equities are consolidating in a range with every dip being bought showing strength at lower levels. Overall, we expect the market to trade in range with positive bias.