Latest news with #Technologies
Yahoo
a day ago
- Business
- Yahoo
Watch These Palantir Price Levels as Stock Hits Another All-Time High
Palantir shares hit a record high for the second straight day on Monday, as the AI-powered analytics software provider benefits from investor optimism about its expanding business with the federal government. The stock staged a volume-backed breakout above a pennant pattern in Friday's trading session, paving the way for higher prices this week. Bars pattern analysis projects a a bullish target of around $220 and indicates the current uptrend may last until early July. Investors should eye crucial support levels on Palantir's chart around $125, $97 and $ Technologies (PLTR) shares hit another record high on Monday, as the AI-powered analytics software provider benefits from investor optimism about its expanding business with the federal government. The government has integrated a Palantir product called Foundry into at least four agencies, including the Department of Homeland Security and the Health and Human Services Department, The New York Times reported Friday. Officials at the Social Security Administration and Internal Revenue Service have also had discussions with Palantir about buying its technology, the report said. Palantir shares rose 0.2% to close Monday at just above $132, after surging nearly 8% the previous session to a record high. The stock has doubled since hitting its early-April low and is up 75% since the start of the year, as investor enthusiasm for AI stocks has recovered lately and investors bet that Palantir will be a prime beneficiary of the government's efficiency drive. Below, we take a closer look at Palantir's chart and use technical analysis to point out crucial price levels worth watching out for. After reaching last month's peak, Palantir shares consolidated in a pennant pattern, indicating a continuation of the stock's longer-term uptrend. Indeed, the price staged a volume-backed breakout above the pattern in Friday's trading session, paving the way for higher prices this week. Moreover, while the relative strength index confirms bullish momentum, the indicator remains below overbought levels, providing ample room for the price to test higher prices. Let's apply bars pattern analysis to forecast where Palantir shares may be headed next and also identify crucial support levels to eye during potential pullbacks. To predict how the stock's trend may play out, investors can use bars pattern analysis, a technique that analyzes prior price action to forecast future directional movements. When applying the analysis to Palantir's chart, we extract the price bars comprising the trend higher that proceeded the pennant and overlay them from the pattern's breakout point. This projects a bullish target of around $220 and indicates the move higher may last until early July if it rhymes with the earlier uptrend. The first lower level to eye sits around $125. This area may provide support near the early-May high, which also closely aligns with the stock's prominent November peak. A breakdown below this level could see the shares retrace toward $97. The price may encounter buying interest at this location near a brief period of consolidation in mid-April sitting alongside the March swing high. Finally, further selling in Palantir shares may lead to a retest of lower support at the $83 level. Investors could seek entry points in this region near a trendline that links a range of corresponding trading activity on the chart between December and April. The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info. As of the date this article was written, the author does not own any of the above securities. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
IOL News
5 days ago
- Business
- IOL News
Short cuts can be costly, counterproductive and dangerous, Minister Malatsi
Communications and Digital Technologies Minister Solly Malatsi defending his ICT policy and denying affording special treatment for Starlink. He is pushing for the sector regulations to be "aligned" with transformation laws through equity equivalent investment options. Image: X/IOLGraphics If the BS by Communications and Digital Technologies Minister Solly Malatsi that his directive proposing the relaxation of the BBBEE regime had nothing to do with Elon Musk and his Starlink business didn't jeopardise the core of what South Africa is about I would have simply joined the many good, law-abiding citizens who simply laughed it off. But this is serious. Here we're talking about our Constitution, our noble and well-intentioned laws, our national honour and sovereignty, our post-1994 dispensation's foundation and so on. Malatsi's timing has been described as 'deeply unfortunate' by some, but I'd like to label it as very revealing about him and very cheap. Even primary school kids could see the minister's slip showing very plainly as he ran around like a headless chicken, somersaulting backwards and forwards to fling the gates open for the tech billionaire bully while still pledging support for our national transformation project. But all this sound and fury by the minister won't amount to much. His proposal may simply be rejected, as it has been 'roundly' repudiated by the parliamentary committee that summoned him to explain his actions. Which will bring all of us back to square one. Malatsi and his ilk may have been watching too much TV. Watching US President Donald Trump riding roughshod over everything he dislikes by sitting down and signing executive orders can be very tempting for any ambitious politician. But that's not how laws are made in functional democracies like our Mzansi. This is not to say the minister is simply crazy – like Trump and Musk. There's some method in his madness. He's trying to deal with an extremely challenging malady that has infected global trade and business in general and has had a fast-acting corrosive effect on the rules, etiquette, culture and other good things everyone used to take for granted. Thankfully, South Africa is still a democratic nation. The processes for law making and amendment are well known and still stand. And we generally take our sweet time before anything gets done. So, why rush now? My advice for the minister, or anyone wanting to quickly remove these hurdles standing in front of our good potential international investors would be to simply follow and trust the established processes. Short cuts can be costly, counterproductive and dangerous.
The Citizen
5 days ago
- Politics
- The Citizen
Starlink proposal: Mashatile says Cabinet holds final say on policy changes
Deputy President Mashatile assured MPs that all policy changes, including EEIP ownership rules, must go through Cabinet. Nothing will be changed unless the Cabinet decides so. This is what Deputy President Paul Mashatile told parliament regarding Communications and Digital Technologies Minister Solly Malatsi's decision to gazette a policy directive, the Equity Equivalent Investment Programme (EEIP). It proposes to relax the longstanding requirement that foreign ICT investors must hold at least 30% equity in partnership with historically disadvantaged Black people in SA. Cabinet holds authority to approve changes — Mashatile Mashatile addressed oral questions from members of parliament (MPs) in the National Council of Provinces (NCOP) on Thursday afternoon. Answering a question from uMkhonto we Sizwe (MK) party's MP, Seeng Mmabatho Mokoena, the deputy president clarified the need for ministers to follow proper procedures when identifying issues with legislation, emphasising that the Cabinet holds the authority to approve any changes. Mashatile stated that any changes to legislation must be presented to Cabinet and then to parliament for approval, as the 30% ownership requirement for licences is enshrined in law. ALSO READ: 'I'm viewing my options,' says Lesufi on availability for ANC's top positions 'It may well be that as a minister, once you have made your determination, Cabinet may not agree that you are right,' he said. He added that no minister has the power to change any law through regulations. 'Nothing will be changed unless Cabinet decides it should be so,' the deputy minister said. Regression of social cohesion Mashatile was responding to questions about the regression of social cohesion in South Africa, as outlined in the 2024 SA Social Cohesion Index (SASCI) research report. The study revealed that South Africa's overall cohesion level was moderate at 53.3. This reverses a prior decline but with significant provincial and dimensional variations — Limpopo showed the highest provincial cohesion, while KwaZulu-Natal had the lowest. Chief Whip of the NCOP, Kenneth Mmoiemang, raised concerns about opposition to the government's efforts to address historical inequalities and promote economic transformation. Watch Mashatile respond to questions in the NCOP here: ALSO READ: South Africa needs more leaders like Mujica Mashatile responded by outlining various programmes and measures aimed at advancing transformation, including Broad-Based Black Economic Empowerment (BBBEE) and the National Development Plan. He reaffirmed the government's commitment to implementing transformative legislation enacted by the previous administration. 'Indeed, if someone wants to make some changes to any of these laws, that must then come to Cabinet and then back to parliament. There will be no shortcut, because laws are made and passed by parliament,' he said. 'There will be no shortcut' EFF MP Mathapelo Siwisa asked the deputy president about efforts to address income inequality since taking office. Mashatile said that growing the economy and providing opportunities for people to make a living are crucial for social cohesion. He emphasised the need for municipalities and mayors to work together to address local challenges. Mokoena later inquired about the deputy president's alleged accusations of corruption. Mashatile emphasised the importance of providing evidence in allegations and noted that courts of law are the appropriate forums for establishing authenticity. ALSO READ: MP claims Mashatile shooting used to justify VIP protection boost The deputy president acknowledged the existence of several allegations against him and mentioned the proactive steps he has taken, including presenting himself before the ethics committee in parliament and the ANC's integrity commission. 'But let me assure you, honourable members of the house, that I will continue to subject myself to the relevant institutions as established through our own constitution,' he said. There was an allegation that Mashatile did not declare certain things to remain transparent; he said the register in his office will be updated in a timely manner to prevent such issues. Corruption allegations He added that his office's media team is responsible for ensuring prompt responses to press and social media issues. 'I want to conclude by affirming my unwavering commitment to fully cooperate with the ethics and integrity committees of parliament as well as other law enforcement agencies or state institutions that may require clarity on any matter concerning these allegations,' Mashatile said.
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Business Standard
6 days ago
- Business
- Business Standard
Prostarm Info Systems IPO ends today; subscription soars 48x, GMP at 23%
Prostarm Info Systems IPO Day 3 Subscription Status: The three-day subscription period to bid for the initial public offering (IPO) of Prostarm Info Systems is set to conclude today, May 29, 2025. The public offering, which opened for subscription on Tuesday, May 27, has received an overwhelimg response from investors. NSE data suggests that the ₹168 crore offering of Prostarm Info Systems received bids for 53,96,78,668 shares, against 1,12,00,000 shares on offer, resulting in a subscription of 48.19 times as of 1:30 PM on Thursday, May 29. Among the investor categories, Non-institutional investors (NIIs) led the demand by oversubscribing the category reserved for them by 136.70 times. This was followed by retail investors, who bid for 27.37 times, and Qualified institutional buyers (QIBs), at 18.22 times. Prostarm Info Systems IPO details The public offering comprises an entirely fresh issue of 16 million equity shares. Prostarm Info Systems IPO is available at a price band of ₹95–105 per share, with a lot size of 142 shares. To bid for one lot or 142 shares of Prostarm Info Systems IPO, a retail investor would require a minimum of ₹14,910, taking the upper end of the IPO price into consideration. A retail investor can bid for a maximum of 13 lots or 1,846 shares, amounting to ₹1,93,830. Prostarm Info Systems IPO grey market premium (GMP) The unlisted shares of Prostarm Info Systems were commanding a strong premium in the grey market on the final day of its subscription period. Sources tracking unofficial market activities revealed that Prostarm Info Systems shares were seen trading at around ₹129 per share, reflecting a grey market premium (GMP) of ₹24 or 22.86 per cent over the upper end of the issue price. Prostarm Info Systems IPO review Prostarm Info Systems IPO allotment date, listing aate As the public offering closes for subscription today, the basis of allotment of Prostarm Info Systems IPO shares is likely to be finalised on Friday, May 30, 2025, with shares getting credited into demat accounts by Monday, June 2, 2025. Prostarm Info Systems shares are slated to make their D-Street debut on Tuesday, June 3, 2025, by listing on the BSE and NSE. Prostarm Info Systems IPO objective Prostarm Info Systems, in its Red Herring Prospectus (RHP), has said that it will use the IPO proceeds to fund working capital requirements, prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company, and for achieving inorganic growth through unidentified acquisitions and other strategic initiatives, as well as for general corporate purposes. Prostarm Info Systems IPO registrar, lead managers For the public offering, KFin Technologies serves as the registrar, while Choice Capital Advisors is the sole book-running lead manager. About Prostarm Info Systems Prostarm Info Systems specialises in energy storage and power conditioning equipment. They design, manufacture, and sell various power solution products, including UPS systems, inverters, and solar hybrid systems. The company serves diverse industries like healthcare, aviation, and renewable energy, with a wide geographical presence across 18 states and 1 union territory in India. As of March 2025, they employed 442 staff members and have 21 branch offices and 2 storage facilities. Their services include installation, rental options, and after-sales support, catering to clients like Airports Authority of India and NTPC.
Time of India
27-05-2025
- Business
- Time of India
Nazara's Q4 Revenue up 95% to `520 crore
HighlightsNazara Technologies reported a 95 percent year-on-year increase in fourth-quarter operating revenue, reaching ₹520.2 crore. The company's total expenses surged by 85 percent year-on-year to ₹527.7 crore, primarily due to a threefold increase in advertising and promotional spending. Chief Executive Officer Nitish Mittersain stated that Nazara expects greater contributions from high-margin gaming businesses and plans to expand its global publishing business through acquisitions. Online gaming firm Nazara Technologies has reported a 95 per cent year-on-year (y-o-y) increase in fourth-quarter operating revenue at ₹520.2 crore, even as total expenses surged due to rising marketing and employee costs . The Mumbai-headquartered company reported a net profit of ₹4 crore for the quarter ending March 31 compared with ₹0.18 crore a year ago. During the company's earnings call, chief executive Nitish Mittersain said Nazara expects greater contribution from high-margin gaming businesses in the current fiscal year, which should improve profitability. The company also plans to expand its global publishing business through acquisitions such as Curve Games and Fusebox, alongside continued organic growth. Expenses and segment performance Nazara's total fourth-quarter expenses rose by 85 per cent y-o-y to ₹527.7 crore, primarily driven by a threefold increase in advertising and promotional spending, which jumped to ₹151.03 crore.
