Stock Market Updates: GIFT Nifty Signals A Positive Start For Sensex, Nifty; Liquor Stocks In Focus
India-US trade talks, global cues, US-China negotiations, institutional flows, and US May inflation data are likely to guide the Sensex and Nifty today
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Hindustan Times
19 minutes ago
- Hindustan Times
Who is Neville Roy Singham? Billionaire linked to activist groups involved in LA riots faces congressional probe
A reclusive U.S. billionaire with reported ties to radical left-wing groups is under scrutiny from Republican lawmakers following unrest in Los Angeles. Neville Roy Singham, a China-based tech mogul, is expected to be called before Congress to explain his financial support for a network of non-profits, some of which have been linked to recent anti-ICE protests and accused of promoting Marxist and anti-Israel agendas. Also Read: What is 'No Kings' protest? Movement planned against Trump during Army's 250th anniversary parade Born in the United States in 1954, Singham studied economics at Howard University before launching a successful career in software engineering. In 1993, he founded ThoughtWorks, an IT consulting firm specializing in custom software development and digital transformation services. Under his leadership, the company grew into a global industry leader, earning Singham a spot on Foreign Policy magazine's list of "Top 50 Global Thinkers" in 2009. According to ThoughtWorks' official website, Singham sold the company in 2017. According to The New York Post, in April, the Senate Judiciary Committee called on the Department of Justice to investigate The People's Forum and Code Pink—activist organizations linked to tech entrepreneur Singham and his wife, Jodie Evans. Though based in Shanghai, the couple reportedly channels substantial funding to U.S.-based leftist groups. Despite denying ties to the Chinese government, they are under scrutiny for their associations with the Maku Group, a pro-Beijing propaganda outlet, raising concerns about foreign influence in American political discourse. Most groups linked to Singham are based in a Chelsea, New York office and café, where The People's Forum hosts activist courses like 'Racial Capitalism' and 'Spanish for Social Justice.' Tied to Singham's network, other affiliated nonprofits include BreakThrough News and 1804 Books, a radical publishing house. Also Read: No Kings protest locations: Key cities and venues for June 14 protests Evans co-founded Code Pink and is a board member of The People's Forum. The 70-year-old is also a co-author of a book titled China is Not Your Enemy, which was written with Mikaela Nhondo Erskog. The latter is a researcher at another group, which is funded by Singham. Evans and a fellow Code Pink member visited North Korea in 2015 with 'Women Cross DMZ,' a Hawaii-based nonprofit often criticized for its pro-North Korean stance.
Time of India
34 minutes ago
- Time of India
Air India's long history as it faces crisis of Ahmedabad crash
At least 30 people were killed when an Air India Boeing 787 Dreamliner crashed moments after takeoff from Ahmedabad on Thursday. The flight was bound for London Gatwick. The incident has cast a spotlight on the carrier's long and complex history. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads A Boeing 787 Dreamliner operated by Air India , one of its home country's largest airlines, crashed moments after take-off on Thursday on a flight from Ahmedabad to London Gatwick, killing at least are the facts about the airline's long history:Air India was started by entrepreneur JRD Tata in 1932, before being taken over by the Indian government in 1953. Under the government, years of mismanagement and rising competition led to ballooning debts at the carrier. Tata Group took over the airline's operations in a $2.2 billion deal in 2022, and has since tried to revive its India currently flies to 43 domestic and 41 international destinations. As of May, it operates 191 aircraft, a mix of narrow- and wide-body models from both Airbus and is currently the country's only airline to fly non-stop to long-haul destinations, from Australia to Europe and North low-cost unit, Air India Express, flies to 55 destinations in India and abroad, with a focus on the Middle Group merged Air India and Air India Express with its existing carriers Vistara and AIX Connect in November to form India's largest airline group after India has merged with Vistara, while Air India Express combined with AIX Connect. The airlines command a roughly 30% share of India's domestic aviation Airlines, which started full-service carrier Vistara with the Tatas, is a 25% owner of the combined Air India India placed what was then the world's largest aircraft order for a combined 470 jets from Airbus and Boeing in February was topped up with an order for another 100 jets from Airbus in December last India is in talks with Airbus and Boeing for a major new aircraft deal including some 200 extra single-aisle planes, Reuters reported earlier in company in mid-2023 unveiled a new logo, branding and plane also embarked on a $400 million refurbishment and retrofitting plan of its aircraft interiors, which has been dogged by supply chain delays. The carrier has retrofitted most of its single aisle Airbus A320 neo aircraft and is working on updating its long-haul Boeing 777 and 787 jets.
Mint
37 minutes ago
- Mint
Hindustan Zinc, Hindalco to NALCO: Why were metal stocks in the red today? Analysts decode factors & top stock ideas
Metal stocks: Amid the sharp crash in the Indian stock market today, June 12, metal counters emerged as one of the top casualties, with the 15-constituent Nifty Metal index declining 1.55%. However, this fall comes on the heels of a nearly 4% rally seen in the last one week. Among the 15 metal stocks in the index, 14 closed in the red. Welspun Corp, APL Apollo, Tata Steel, SAIL, Vedanta and NMDC were among the top index losers, shedding between 2-3%. Hindalco, Hindustan Zinc, Adani Enterprises and NALCO also emerged among the losers, down between 0.5% to 1.75%. Jindal Stainless shares were the only ones to defy the weakness in the metal pack and the overall broader market. Analysts largely attributed the fall to profit taking amid a lack of conclusive outcome on the US-China trade deal talks and growing tensions in the Middle East. "Metal stocks started getting into profit-taking zone, driven by the rise in uncertainty in the geopolitical situation, headlined with US-Iraq as well as no clear direction on US-China deal talks. Despite 'frameworks' being reported, concrete outcomes are missing," said Prashant Tapse, Senior (VP) Research at Mehta Equities. Despite today's profit taking, the metal index is in an uptrend for the second month in a row. While it saw a massive fall in April amid a tit-for-tat tariff war between the world's two largest economies, reports of a trade truce brought investors back to metal counters. "Ongoing uncertainties and stalled tariff talks have kept metal stocks volatile. The US-China trade conflict has raised concerns about global demand and supply chain disruptions, impacting metal prices and stocks negatively. China's stimulus measures have been a key driver for metal demand globally. Recent disappointing or unclear stimulus announcements from China, particularly regarding its property sector, which is a major consumer of metals, have dampened hopes for a sustained recovery in metal demand," said Vaibhav Vidwani, Research Analyst at Bonanza. Market dynamics such as profit-taking after previous rallies has also led to selling pressure on Indian metal stocks and the Nifty Metal index, Vidwani added. Going ahead, Tapse expects choppy trading and volatility in metal stocks in the short term, as they are likely to swing with headline news. Technically, he sees more pressure in the metal space, Tapse said, adding that one can use dips as entry points in stocks like JSW Steel and Tata Steel. Meanwhile, Vidwani prefers Hindustan Zinc amid a bullishness in the silver prices. "Hindustan Zinc is the stock we are bullish on because Hindustan Zinc have +15% revenue contribution of silver, and we can expect upward movement in the near term in silver prices, which will support the revenue growth and net profitability of the company, as per the Bonanza analyst. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
