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Ambuja Cements Ltd. traded 2.51 per cent at Rs 495.90 at 10:48AM (IST) on Friday, even as BSE benchmark Sensex 399.77 points to 77555.56. The stock had settled at Rs 483.75 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 706.85 and Rs 408.60, respectively.

ACC Ltd. traded 2.63 per cent in Friday's session at 10:44AM (IST). The stock opened at Rs 1985.95 and has touched an intraday high and low of Rs 2085.00 and Rs 1985.95, respectively, during the session so far. The stock quoted a 52-week high of Rs 2843.00 and a 52-week low of 1803.80. About 10,880 shares changed hands on the counter so far.

SECI) has found itself at the centre of a huge controversy in the wake of the probe that the US has launched into some of Adani's dealings. As per allegations made by the US Justice Department, officials were paid more than $250 million in bribes to okay solar deals with state govts. Adani Group Chairman Gautam S Adani, his nephew Sagar Adani, and six others have been charged with paying these bribes. It may be mentioned here that SECI is the the nodal agency and a top trader of renewable energy in India. It holds the highest trading license. The company buys power from developers. It acquires this power through its tendering process. SECI then sells this power to electricity distribution companies. These sales happen through long-term agreements. SECI buys power from renewable energy project developers chosen through competitive bidding. They then sell this power to electricity distribution companies (DISCOMs) through long-term agreements known as Power Purchase Agreements (PPAs) and Power Sale Agreements (PSAs).

SJVN are likely to remain in focus on Friday as the company announced that it has signed a memorandum of understanding (MoU) with the Energy Department, Government of Rajasthan for the development of renewable energy in the state. “In compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is intimated that the Company has signed a Memorandum of Understanding (MoU) with Energy Department, Government of Rajasthan to spearhead the development of renewable energy in the state,” said the company in a filing to the exchanges.

Shakti Pumps will be in focus today as the company has announced a bonus share issue in the ratio 5:1, for which the ex-date is November 25. This means today is the last day to buy the stock to be eligible for the bonus shares. The company had announced the record date earlier this month.

Sensex and Nifty tumbled on Thursday amid a sharp fall in Adani group stocks after billionaire industrialist Gautam Adani was charged in the US for alleged bribery and fraud. Stocks that were in focus include names like Paytm, which rose nearly 3.65% and IndiGo, which gained marginally by 0.55% and Varun Beverages, whose shares fell nearly 1% on Thursday.

Rahul Singh, CIO, Tata Asset Management, says the market has shifted away from thematic sector-based movements to stock-specific movements now and he expects that even while the markets remain sideways, the nature of the market will be very different and it will be a very bottom-up stock selection rather than the sectoral swings we saw in the last 24 months. So Singh says we should expect a slightly narrower market focused more on valuation and more stock specific. Between November 2021 and March 2023, there were 17-18 months of a very similar phase and it can happen again. What is your view on the market? We know the reasons for the correction which are basically valuation and earnings and the FII outflows, but the question is has all of that been factored in by the market and from here on do we expect a recovery or do you expect this the sideways move to be the nature of the market for the next couple of months? Rahul Singh: The market would be watching the earnings.

Sagar Adani, a millennial scion of the company who kept track of hundreds of millions of dollars of alleged bribes to Indian officials on his mobile phone, court filings show. U.S. prosecutors called the notes on Adani's phone «bribe notes.» In those notes, Sagar Adani, nephew of the Indian conglomerate's billionaire founder Gautam Adani, noted the amount of the bribe he offered, which government official had been offered the money and how much solar power the official's region would buy in return. He even identified a per megawatt bribe rate to secure the power contracts, the court filings show.

Donald Trump tapped Pam Bondi, a staunch ally who helped defend the ex-leader against impeachment, as US attorney general on Thursday following firebrand Matt Gaetz's withdrawal from the running. Gaetz's retreat amid sexual misconduct allegations signaled limits to Trump's power, even as the president-elect prepares to retake the White House with his Republican Party also in control of both chambers of Congress. The nomination of Bondi, a former Florida attorney general who served as a surrogate during the 2024 campaign and pushed to de-legitimize vote counting in swing state Pennsylvania in 2020, could be seen as a useful tool for Trump in his attempt to settle personal grievances.

«Markets are likely to react to the preliminary release of November month manufacturing and services PMI of US, Europe and India today. In the near term, we expect the market to remain volatile on account of global geo-political concerns, relentless FII selling and uncertainty around the outcome of state assembly elections in Maharashtra and Jharkhand,» said Siddhartha Khemka, Head — Research, Wealth Management, Motilal Oswal. Here's breaking down the pre-market actions:

Lisa Su, chair, and chief executive officer (CEO) of Advanced Micro Devices (AMD)--credited with reversing the fortunes of the American chipmaker—is now taking the fight to industry leaders like Nvidia. In an interview with ET Su said that the $ 22.7 billion firm whose market cap has soared to $223 billion, is also building two supercomputers in India. It could also enhance investments in the country beyond the $ 400 million announced last year, said the 55-year-old executive. Edited excerpts: AMD has completed 20 years in India, what role do you see the country playing in the era of AI?

Zepto, which has raised another $350 million in new funding from prominent domestic investors, aims to become a company with a majority Indian ownership, chief executive Aadit Palicha said. Zepto is not an “Amazon or Walmart” but an Indian firm with plans to go public on Indian bourses, Palicha said in an interview with ET. He said the four-year old firm is not hurting kiranas or mom-and-pop stores — an allegation that Zepto and other quick-commerce firms are facing — and is a “net-job creator to the country’s consumption story". Founded by Stanford University dropouts Palicha and Kaivalya Vohra, Zepto has emerged as one of the fastest-growing consumer internet firms in India, fuelled by $1.4 billion that it raised in the last five-six months.

Zepto has raised an additional $350 million in funding from Indian high net-worth individuals (HNIs), family offices, and leading financial institutions. The fundraise was led by Motilal Oswal’s private wealth division, the company said in a statement. This adds to the $1 billion war chest Zepto has amassed over the past few months to take on rivals like Zomato’s Blinkit, Swiggy Instamart and others. ET first reported in October about Zepto looking to onboard local investors with a mandate of raising $150 million. Subsequently, we reported on November 15 that the round had doubled in size as the quick commerce firm sought to boost local shareholding and investor interest in the sector was at a peak.

Nvidia’s strategy for India is built on a multi-pronged approach predicated to “accelerated computing is the future of technology,” especially for India given the energy constraints. This approach offers an efficient solution to meet the country’s growing AI needs—sustainably, said the company’s business head (cloud and consumer internet) for the South Asian market, Hasan Aijaz. “The chip is no longer the unit; it’s the data centre. You don’t have to think about chips or systems separately. You need to think about how chips and systems work together, along with the network and the software and create a full stack,” he said at the Bengaluru Tech Summit on Thursday speaking on a discussion about AI for chips. Meanwhile, US-based Qualcomm said it is focused on edge AI and making on-device AI more accessible and efficient for its end consumers. Senior VP at the firm, Srini Maddali, said «AI on the edge is not an option; it is a necessity. You will not be able to scale, nor will you get the technology leverage across the world without having AI on the device.»

People aware of the ongoing downsizing drive within Ola Electric said the company has cut 300-400 jobs, or under 10% of the workforce, over the past few months. The numbers would go up and as many as 500 employees may be impacted as the process is still ongoing, according to one of the people. «There is an emphasis on profitability and workforce optimisation is in line with that goal,» said a person close to the company.

AI regulations. Stringent regulations such as the proposed EU Artificial Intelligence Act could potentially undermine the global competitiveness of European AI startups, likely pushing more companies to shift to place like the United States —a seismic blow to Europe’s tech ecosystem, ET has learnt after speaking with multiple industry executives, global founders, and investors at the Slush 2024 event in Helsinki. “The reality is that the regulations here are far removed from the reality of how businesses operate,” said Andreas Klinger, founder of Prototype Capital, an early-stage solo general partner fund based in Berlin. “If we look at the high-risk aspects, everyone will agree, but things get muddier very quickly. I invest in artificial intelligence startups, so I have a good sense of what is likely to happen.”

generative AI came into the spotlight – is stabilising. Staffing experts are noticing a plateauing in the need for specialist prompt engineers, with businesses seeking AI engineers with a broader skill set as techniques like retrieval augment generation or grounding, fine-tuning, and continual pre-training are seeing increasing innovation and relevance, and tools to automate prompt optimisation are emerging. Prompt engineers are people who optimise prompts to ensure accurate and desirable output from Gen AI models. “Prompt engineering and demand for prompt engineers is by scope and nature highly seasonal and short-termed,” said Krishna Gautam, business head — direct hiring — at specialist staffing firm Xpheno. “The role's eventual output is to enhance the intuitive capabilities of the AI, including the ability to autonomously frame, test and calibrate prompts. Given this specific nature of the stack, prompt engineering will eventually phase out itself from being a significant part of the AI capacity matrix of enterprises.”

Subscribe to enjoy similar stories. Mumbai: Senior executives eyeing CEO roles should not simply bank on their leadership and business acumen to nail interviews. They may also have to field queries on everything from longevity and global warming to geopolitics, besides having to study financials and present a strategy plan to the board.

money-market funds, according to reports. Apollo chief economist Torsten Slok is of the opinion that the rate cuts can trigger a $2 trillion exodus from money-market funds, with assets held in money-market funds hit an all-time high of $7 trillion this month. With the Fed Reserve cutting interest rates, money will start moving out of these funds, and will generate more value when it enters higher-yielding assets during a folio shift. Asset relocation like these could help generate more value, but it may necessarily not be a great news for stocks and the US stock markets, but would instead result in inflows into the credit markets, according to a Business Insider report.

From the beginning, the mood of the 'finance COP' in Azerbaijan has been far from optimistic. In the first week, Adaptation Fund head Mikko Ollikainen spoke about the 'great paradox' at the heart of the latest UNFCCC meet — the urgent calls of world leaders to safeguard vulnerable populations from worsening climate impacts, and the lack of funds to make that a reality. The UN's Adaptation Gap Report 2024: Come Hell and High Water, released on Nov 7, estimates that the adaptation finance gap stands between $187-359 bn a year. Much larger numbers are floating around in Baku. The report stresses another aspect: need to improve the design and modalities of adaptation projects to ensure that projects enhance resilience of vulnerable communities.

equity exposure of the household (HH) sector despite a surge in equity mcap. India's mcap hit 146% of GDP in the quarter ended June 2024. In its July bulletin, RBI published its first- ever quarterly estimates of the financial wealth of HHs, including their holdings in the equity market. A month later, Sebi released a 'Working Paper on Household Savings through Indian Securities Market'. Taking cues from these estimates, gross financial assets (GFAs) estimates, and outstanding liabilities of the HH sector, along with their equity exposure, were made. RBI's estimates up to FY23 were updated to Q1 FY25, incorporating additional information from Sebi's paper, which found: