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Nvidia’s historic rally extends to a record-setting 10th straight week

Economic TimesEconomic Times · 1y ago
Nvidia’s historic rally extends to a record-setting 10th straight week
Medial

Nvidia's stock continues to break records with its historic rally in 2024. It rose 0.4% last week, marking its 10th consecutive positive week, the longest winning streak in its history. In contrast, the Philadelphia Stock Exchange Semiconductor Index experienced its largest one-week drop since January, falling 4% during the same period. Nvidia's stock has gained approximately 80% during the 10-week rally, driven by high demand for AI chips. The company currently holds the position of the top gainer in the Nasdaq 100 Index and boasts a market capitalization of around $2.2 trillion, making it the third-largest publicly traded stock. The upcoming GTC conference, where CEO Jensen Huang will speak, will be a crucial event for the stock.

Is Axis Bank's share price fall a knee-jerk reaction?

LivemintLivemint · 11m ago
Is Axis Bank's share price fall a knee-jerk reaction?
Medial

Axis Bank, one of the Nifty 50 stocks, faced a decline of around 6% on Thursday. Although the bank's performance in Q1FY25 was satisfactory, investors showed concern about the increase in credit cost. The management stated that the higher credit cost in the last quarter was due to seasonality and lower recoveries, and it is unclear whether this will be a one-off or a trend. The fall in the share price may be due to investors expecting the credit cost to remain low, despite FY24 being a strong year for Axis Bank with low gross NPAs. The bank's gross slippage ratio increased to 2%, with a significant portion coming from the retail portfolio, which includes a growing high-risk unsecured segment. Despite a growth in net interest income and a robust pre-provisioning operating profit, loan loss provisions doubled year-on-year, resulting in a lower pre-tax profit growth.

Hi-tech Pipes' Rs 600-crore QIP to open next week; funds to be used for doubling capacity

Money ControlMoney Control · 9m ago
Hi-tech Pipes' Rs 600-crore QIP to open next week; funds to be used for doubling capacity
Medial

- Hi-Tech Pipes plans to raise up to Rs 600 crore through a qualified institutional placement (QIP) to double its pipe manufacturing capacity. - The funds will be used to set up new plants and increase capacity from nearly a million tonnes to nearly 2 million metric tonnes per annum. - The QIP is expected to open in the coming week and has received a strong response during roadshows. - Hi-Tech Pipes is the third-largest pipe maker in India with marquee clients such as BHEL, SAIL, NTPC, and Adani Group. - The company aims to be debt-free by FY26 and has achieved record sales volumes in Q2FY25, driven by increased demand in infrastructure, water transportation, and solar energy sectors. - Shares of Hi-Tech Pipes have surged over 40 percent in the last three months, with one-year gains of over 125 percent.

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