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Business Standard
5 days ago
- Business
- Business Standard
Stock Market LIVE: GIFT Nifty hints at flat start; Asia-pacific markets rise; RBI MPC decision eyed
Sensex Today | Stock Market LIVE on Friday, June 6, 2025: Around 7:00 AM, GIFT Nifty futures were trading 19 points lower at 24,843, indicating a flat to negative start for the bourses. 7:11 AM Stock Market LIVE Updates: Trump speaks with Xi, will resume talks between U.S. and China over tariffs Stock Market LIVE Updates: US President Donald Trump and Chinese President Xi Jinping held a phone call on Thursday, agreeing to resume high-level negotiations aimed at resolving the ongoing trade dispute between the two nations. Trump described the 90-minute conversation as 'very good,' noting that it focused 'almost entirely' on trade matters. He later posted on Truth Social that the call ended with 'a very positive conclusion for both countries.' Representing the US in the upcoming talks will be Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and US Trade Representative Jamieson Greer. The two sides last met in May in Geneva, where they reached a temporary agreement to ease retaliatory tariffs. However, tensions remain, with the Trump administration accusing Beijing of dragging its feet on a commitment made during the Geneva talks to expand rare earth exports to the US. Source: CNBC 7:09 AM Stock Market LIVE Updates: Drop 10% universal tariff in bilateral trade agreement: India to US Stock Market LIVE Updates: India is seeking a binding commitment from the United States (US) on pre-April 2 tariff levels for labour-intensive sectors as part of an early tranche of the proposed bilateral trade agreement (BTA). This would involve doing away with the universal 10 per cent tariff imposed by the Donald Trump administration. 'Since our labour-intensive exports face an additional 10 per cent tariff after April 2, while original tariffs were largely in low single digits, a commitment by the US to revert to its original tariff schedule would give us a competitive edge over other countries,' said a government official, requesting anonymity. READ MORE 7:09 AM Stock Market LIVE Updates: With the Reserve Bank of India (RBI) set to announce on Friday the review of the June meeting of its monetary policy committee (MPC), what will be watched are the tone of the policy and if there is any indication how much the central bank will reduce interest rates further, given the current growth-inflation dynamics. The six-member panel reduced the policy repo rate by 25 basis points each in the two previous policy review meetings, in February and April. 7:00 AM Stock Market LIVE Updates: US markets end lower Stock Market LIVE Updates: US markets end lower -- Nasdaq down 0.83 per cent -- Dow Jones slipped 0.25 per cent -- S&P 500 fell 0.53 per cent
Time of India
27-05-2025
- Business
- Time of India
ETtech Explainer: What is confidential IPO filing, and why do startups choose it?
A confidential IPO filing allows a company to submit its IPO registration documents to Sebi without immediate public disclosure of sensitive information. Sebi introduced this mechanism in November 2022 as an alternative route for companies looking to list on the bourses. Confidential filing has been in use in the US, the UK and Canada for a long time. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads A company confidentially submits its draft documents through its merchant bankers to Sebi and the stock exchanges. This is not made public at this stage. The company is required to make a public announcement within two days of filing, stating that they have filed the draft papers. This does not contain specific details of the proposed IPO. Companies use this time to gather limited feedback from qualified institutional buyers (QIBs) without any broad marketing for the filing. Sebi reviews the confidential DRHP and sends observations and queries to the company. After addressing Sebi's concerns, the company files the updated DRHP-I (UDRHP-I). This is then made public. Groww Shiprocket Imagine Marketing, parent of wearables brand, Boat PhysicsWallah Swiggy Tata Play: Formerly Tata Sky, this was the first Indian company to use the confidential filing option in December 2022 Online investment platform Groww filed its draft red herring prospectus (DRHP) with the market regulator for its initial public offering (IPO) through the confidential route , according to a public notice dated May and more tech firms are choosing to opt for a confidential filing, but what does it mean, and why is it used? ETtech explains. confidential IPO filing allows a company to submit its IPO registration documents to the Securities and Exchange Board of India (Sebi) without immediate public mechanism was introduced by Sebi in November 2022 as an alternative route for companies looking to list on the bourses. It was widely practiced in markets like the US, the UK and Canada for a long doesn't mean that the public will not know about the issue at all. Only the draft papers, containing sensitive information relating to the company, will be released main aim is for companies to submit their papers to the market watchdog so that sensitive financial, operational, and strategic information is kept prevents competitors from getting access to important business details. Sebi requires companies to detail key business details and future plans in the DHRP; a lot of this information is not otherwise available for private is the key reason why startups and new-age tech firms choose the confidential route, as they have evolving business companies rethink their IPO plans after filing draft papers. This option provides companies with greater flexibility to assess market conditions and decide the right time to formally launch their IPO. If markets turn unfavourable, companies have the option to delay or even withdraw their plans without public pressure or negative headlines, which often follow a public a private filing, companies seek and address feedback from Sebi. This gives them time to work on their disclosures and ensure compliance before the document is made 2022, the following new-age companies have taken the confidential road to IPO:
Business Recorder
17-05-2025
- Business
- Business Recorder
STOXX 600 rounds off fifth week of gains
FRANKFURT: European shares rounded off their fifth week of gains on Friday, as trade deals out of the US eased tariff worries and strong corporate results provided further boost. The region-wide STOXX 600 index closed up 0.4%. Most local bourses were also higher, with Germany's hovering near a record high. Luxury group Richemont rose almost 7% after reporting a slightly stronger-than-expected 7% rise in quarterly sales. It lifted the personal and household goods sector 1.2%, while the luxury index rose 2.2%. Earnings in the region have shown resilience, with first-quarter earnings now expected to increase more than previously thought, LSEG data showed earlier in the week. Heavyweight healthcare shares were the biggest boosts, jumping 1.2%, boosted by AstraZeneca and Novartis. Declines in basic resource miners and technology stocks limited gains on the benchmark index. For the week, the European benchmark index rose about 2%, driven by a deal between Washington and Beijing to lower tariffs on each other. A week ago, Trump and British Prime Minister Keir Starmer agreed on a limited bilateral trade agreement, making way for conversations that a deal with the European Union is also around the corner. The region was closely monitoring developments from the Russia-Ukraine peace talks, after the first direct talks in more than three years between the two warring countries yielded no ceasefire. On the data front, French unemployment rate came at 7.1% for the first quarter. Italian EU-harmonised consumer prices rose 2% year-on-year in April, revising down preliminary data. The preliminary estimate had pointed to a 2.1% year-on-year rise. European Central Bank policymaker Martins Kazaks said interest rates may be at their lowest point, but higher uncertainty and sudden changes could alter the policy outlook. Among other stocks, Novo Nordisk fell 1.8%. The drugmaker ousted CEO Lars Fruergaard Jorgensen on concerns the company is losing its first-mover advantage in the obesity drug market.
Business Times
16-05-2025
- Business
- Business Times
Europe: Stoxx 600 rounds off fifth week of gains, Cartier-parent Richemont advances
[BENGALURU] European shares rounded off their fifth week of gains on Friday (May 16), as trade deals out of the US eased tariff worries and strong corporate results provided further boost. The region-wide Stoxx 600 index closed up 0.4 per cent. Most local bourses were also higher, with Germany's hovering near a record high. Luxury group Richemont rose almost 7 per cent after reporting a slightly stronger-than-expected 7 per cent rise in quarterly sales. It lifted the personal and household goods sector 1.2 per cent, while the luxury index rose 2.2 per cent. Earnings in the region have shown resilience, with first-quarter earnings now expected to increase more than previously thought, LSEG data showed earlier in the week. Heavyweight healthcare shares were the biggest boosts, jumping 1.2 per cent, boosted by AstraZeneca and Novartis. Declines in basic resource miners and technology stocks limited gains on the benchmark index. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up For the week, the European benchmark index rose about 2 per cent, driven by a deal between Washington and Beijing to lower tariffs on each other. A week ago, Trump and British Prime Minister Keir Starmer agreed on a limited bilateral trade agreement, making way for conversations that a deal with the European Union is also around the corner. 'The agreement with both China and the UK raises the question of whether the EU will reach a similar deal with the US before the pause on the so-called 'reciprocal' tariffs expires... we suspect a US-EU deal is not imminent,' said Andrew Kenningham, chief Europe economist at Capital Economics. 'The US is probably less motivated to reach an agreement with the EU than it was with the UK or China.' The region was closely monitoring developments from the Russia-Ukraine peace talks, after the first direct talks in more than three years between the two warring countries yielded no ceasefire. On the data front, French unemployment rate came at 7.1 per cent for the first quarter. Italian EU-harmonised consumer prices rose 2 per cent year on year in April, revising down preliminary data. The preliminary estimate had pointed to a 2.1 per cent year-on-year rise. European Central Bank policymaker Martins Kazaks said interest rates may be at their lowest point, but higher uncertainty and sudden changes could alter the policy outlook. Among other stocks, Novo Nordisk fell 1.8 per cent. The drugmaker ousted chief executive Lars Fruergaard Jorgensen on concerns the company is losing its first-mover advantage in the obesity drug market. REUTERS
Business Recorder
15-05-2025
- Business
- Business Recorder
Energy stocks weigh on Europe's STOXX 600; Fed's Powell, key data on tap
European shares slipped on Thursday, dragged by energy stocks, while investors awaited key economic data and remarks from U.S. Federal Reserve Chair Jerome Powell. As of 0830 GMT, the continent-wide STOXX 600 index dipped 0.2%, with the energy sector down 1.7% and leading losses. Most local bourses were also trading in the red. Oil prices dropped more than 3% on the prospects of a potential U.S.-Iran nuclear deal that could ease sanctions and boost supply. Major oil firms bore the brunt, with BP and Shell falling 3.7% and 2.5%, respectively. Basic resources also incurred heavy losses, down 1.5%, weighed down by lower metal prices. Global markets, this week, have welcomed the U.S.-China trade truce and U.S. President Donald Trump's investment deals from the Middle East during his Gulf tour. However, Trump has yet to announce deals with the European Union. European shares pull back after rally, earnings disappoint 'Broadly speaking, the appetite in the European stock markets has been slowing for two reasons. The first one is the fact that there is no news (regarding EU deals) with the United States so far,' said Ipek Ozkardeskaya, senior market analyst at Swissquote Bank. 'The second is the fact that the inflation numbers have not necessarily been in favour of the ECB (European Central Bank) recently.' Investors were now awaiting the first-quarter euro zone flash GDP and employment data, due later in the day. However, Powell's remarks, also later in the day, will take the centre stage for potential insights into the monetary policy outlook. Attention is also focused on upcoming U.S. retail sales data and Walmart earnings, which could offer a clearer picture of consumer sentiment. Among single stocks, Thyssenkrupp dropped 10% after the submarines-to-car parts group posted a plunge in its second-quarter operating profit. Shares in Siemens fell 2.7%, with analysts attributing the decline to weaker-than-expected free cash flow, despite beating expectations for second-quarter results. German pharmaceutical and specialty materials group Merck KGaA fell 6% after it guided more cautiously for 2025 earnings, citing the macro-economic and geopolitical environment as well as foreign-exchange headwinds. Despite the day's corporate results, European companies on average have weathered the turbulence sparked by U.S. President Donald Trump's tariff policies. According to data compiled by LSEG, first-quarter earnings are expected to have risen 1.9% from a year ago.
