Trade Financial News

South Korean police have arrested 19 people on fraud charges in a swoop on a social media “crypto reading room.”

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Indian market hit a fresh record high on Thursday amid short covering following RBI’s record dividend payout to the government that could lead to better fiscal position and softer bond yields. The S&P BSE Sensex rose nearly 1,200 points to hit a record high of 75,499 while the Nifty50 closed at 22,967.

In the cryptocurrency space, nothing is certain. A petty small investment can make you a millionaire in no time. But as you know, all coins do not have that quality, and some are made to forge the investment. Authentic players of this space have strong features, backing, and use cases – they are the coin for the long run. BEFE is a coin of this line.

ITC on Thursday reported a marginal 1.3% year-on-year drop in standalone net profit at Rs 5020.2 crore for the fourth quarter ending March, while revenue from operations went up by 1.4% at Rs 17752.87 crore in the period under review. The company said excluding the agri-business (which was severely impacted due to government restrictions in trade of agri-commodities), the company’s gross revenue during the fourth quarter has gone up by 6% y-o-y, while it reported the highest ever fourth quarter profit before tax.

Congress did the partition of the country in such a way that for 70 years, we had to look at Kartarpur Sahib through binoculars", PM Modi said at Patiala. "When the Bangladesh war was fought, more than 90,000 Pakistani soldiers had surrendered.

Charles Schwab Corp. is planning to roll out an alternative investments platform in phases for individual investors this year. 

Nvidia’s impressive Q1 earnings report caused AI-related stocks to surge, but AI crypto has not followed suit despite Crypto trader’s expectations.

Chinese state media have reported that electric vehicle maker Tesla has begun construction of a factory in Shanghai to make its Megapack energy storage batteries

The European Commission has imposed a fine of 337.5 million euros ($366 million) on food company Mondelez, the owner of Oreo cookies and other snack brands, for obstructing sales of its products between EU member states

₹5,020.20 crore in the three months ended March amid weak demand during the quarter. Net profit for the maker of Gold Flake cigarettes and Bingo chips was slightly below the ₹5,150 crore estimated by a Bloomberg poll of 20 analysts.Revenue from operations grew 1.4% to ₹17,752.87 crore from ₹17,506.08 crore a year earlier.

HBL Power Systems, a prominent player in the battery and power systems sector, has emerged as a lucrative investment avenue in recent years, exhibiting sustained upward momentum in its share prices without significant pullbacks.Over the past twelve months alone, its shares have skyrocketed from ₹109 per share to the current trading price of ₹538.55 per share, translating to a remarkable gain of 394%. Long-term investors have witnessed even more impressive returns, with the stock delivering staggering gains of 1254% over the last three years and an astonishing 2143% over the past five years.In the span of a decade, the stock has witnessed an extraordinary surge of 5367%.Also Read: Responsive Industries shares jumped over 145% in 14 months; should you buy?Notably, the stock has consistently delivered positive returns on an annual basis, recording significant gains of 160%, 53%, 67%, and 312% in CY20, CY21, CY22, and CY23, respectively.In the current year, the stock has sustained its upward trajectory, registering a 24% increase from ₹437.90 to its current level.

On the BSE, Techknowgreen Solutions(down 18.62 per cent), HEG(down 16.25 per cent), Pooja Entertainment (down 14.60 per cent), Centum Elec(down 13.25 per cent) and Ratnaveer Precision(down 11.53 per cent) stood among the top losers in today's trade.

Benchmark NSE Nifty closed 369.86 points up at 22967.65 amid buying in frontline bluechip counters.

Nifty Bank snapped a 2-day losing streak to close in the green with gains of nearly 1,000 points on Thursday. The Nifty Bank rose 986 points to close at 48,768, while Nifty50 hit a fresh record high of 22,993.

Nykaa’s operator FSN E-Commerce Ventures ended Thursday's trade 3% higher on BSE at Rs 174 after hitting the day’s high of Rs 187. The company reported a fourfold Q4 net profit of Rs 9 crore. The company also posted a 28% year-on-year (YoY) increase in operating revenue for the March quarter to Rs 1,667 crore led by a 24% increase in the core business, beauty and personal care (BPC), to Rs 1,388 crore during the quarter.

MUMBAI:In a significant setback to Gift City's ambitions of becoming a global financial hub, the much-anticipated merger between the two international exchanges located there, NSE IX and India INX, has been called off, according to two persons aware of the development.India INX is a subsidiary of BSE Ltd, while NSE IX is led by the National Stock Exchange Ltd.The merger was expected to enhance trading volumes and attract international investors to Gujarat's Gift City, where the average daily turnover on international exchanges runs into billions of dollars.The talks were called off by the BSE because discussions, on since 2022, had failed to make any headway, said one of the persons cited above.A BSE spokesperson confirmed that the merger talks are "off the table" but declined to comment on the reasons for the decision. Attempts to reach a spokesperson of the National Stock Exchange (NSE) were unsuccessful."The merger was driven by the IFSCA's objective of making Gift City a global financial centre rivalling the likes of Singapore, Hong Kong, Luxembourg, and Dubai.

Bitcoin (BTC) is currently navigating resistance around $70,000. Starting the week bullish, BTC peaked at $71,957, gaining 13% over the past seven days. The rise was driven by inflows into Bitcoin spot ETFs and optimism for Ethereum spot ETF approval by the SEC.

Crypto investor and trader Brian Kelly has suggested that Solana (SOL) could potentially become the next cryptocurrency to have a spot exchange-traded fund (ETF) in the United States.

Gate.io’s Hong Kong entity, Gate.HK, is winding down its operations. It has also withdrawn its application for a crypto trading platform license in the region.

Shares of Nvidia rose on Thursday after the chipmaker forecast an upbeat second-quarter revenue and announced a stock split that floored investors and once again showcased its dominance in the AI-related chips market. The company's stock rose 6.5% in premarket trading, with rival AI-related chipmakers Advanced Micro Devices, Broadcom and Micron Technology also gaining between 2% and 3%.