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Bloomberg Quint
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Tech Mahindra's 15% EBIT Margin Target By FY27 A 'Tough Ask'; Stock Remains 'Undervalued', Says Macquarie
- Macquarie, a research firm, believes that Tech Mahindra's target of achieving a 15% EBIT margin by FY27 is ambitious and estimates a more realistic margin of 12.5% to 13.5%.
- Tech Mahindra's heavy reliance on the struggling telecom vertical, accounting for over 30% of its revenue, poses challenges for profitability and growth.
- Historical performance suggests achieving the EBIT margin target will be difficult, especially with rising employee costs acting as the primary drag on profitability.
- Macquarie maintains its 'underperform' rating on Tech Mahindra's stock, with a revised target price of Rs 1,090, and favors LTIMindtree over Tech Mahindra for its superior vertical mix and growth potential.
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Bloomberg Quint
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51
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Trump May Start Telling Nations New Tariff Rates On Friday
- US President Donald Trump may start informing trading partners about unilateral tariff rates as early as Friday ahead of a July 9 negotiation deadline.
- Trump previously announced reciprocal tariffs on April 2, which were paused for 90 days to allow time for negotiations.
- Deals have been made with the UK and Vietnam, and a truce with China has eased tariff tensions between the two largest economies.
- While trade deals are still being finalized with major partners like Japan, South Korea, and the EU, Trump remains firm on the upcoming deadline.
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Bloomberg Quint
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168
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Gold And Silver Trade Flat — Check Prices In Mumbai, Chennai, And Other Cities
- Gold and silver prices remained stable on Friday with muted demand for safe haven assets, but potential volatility looms with US President Donald Trump's tariff deadline approaching.
- Gold price in Mumbai traded at Rs 96,900 per 10 grams, down from its all-time high, while silver price stood at Rs 1,08,380 per kg.
- In New Delhi, gold price was Rs 96,740 per 10 grams, in Kolkata Rs 96,780, in Bengaluru Rs 96,980, and in Chennai the highest at Rs 97,190 per 10 grams.
- Internationally, gold spot price was slightly higher at $3,330.58 an ounce, while silver spot price was at $36.75 on July 4.
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Bloomberg Quint
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Stock Market Today: All You Need To Know Going Into Trade On July 4
- Overview of Indian stock market performance, key events, and economic data.
- Stocks in focus include Bharat Forge, UCO Bank, Vedanta, Bajaj Finance, and more.
- Updates on companies like Marico, Reliance Retail, ICICI Lombard, L&T Finance, and YES Bank.
- Several companies report financial growth and developments in various sectors; market trends and insights shared.
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Bloomberg Quint
2w
56
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Rupee Bond Binge By Indian Firms Poised To Slow After Record Run
- The Indian companies raised a record 6.6 trillion rupees ($77.1 billion) through local-currency notes in the first half of the year, driven by falling interest rates and aggressive liquidity infusions.
- The rush in rupee bond issuances is expected to slow down as the Reserve Bank of India shifts towards a neutral policy stance and economic growth prospects moderate, with rising headwinds from trade and geopolitics.
- Yields on Indian debt have started to climb after reaching three-year lows, with inquiries for bond fundraisings increasing due to abundant liquidity and cheaper borrowing costs, leading to a surge in corporate bond sales.
- However, uncertainties in the global market and reduced capital spending due to slower economic growth may impact corporate bond sales in the second half of the year, with companies potentially opting for loans over bonds as banks lower lending rates.
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Bloomberg Quint
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181
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Suzuki Is Becoming A Top Japan Importer With Made-In-India Cars
- Suzuki Motor Corp. surpassed Mercedes-Benz to become Japan's top car importer in June, importing 4,780 vehicles into Japan, mainly due to the popularity of the Jimny Nomad and another small SUV made in India.
- Suzuki's success in Japan, despite being a smaller manufacturer compared to giants like Toyota, highlights the demand for its products, particularly the Jimny Nomad, which received 50,000 pre-orders.
- Suzuki plans to increase production of the Jimny Nomad in India to meet demand and enhance import numbers further. The company is also targeting a 50% market share in India by 2030.
- Honda and other automakers have also seen success with imported compact SUVs in Japan, with Honda's WR-V showing significant growth. Jeep, under Stellantis NV, performed well, surpassing imports by GM and Ford.
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Bloomberg Quint
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103
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Asian Shares Trade In Narrow Range On Tariff Angst: Markets Wrap
- Asian shares trade in narrow range as trade tensions overshadow US jobs growth.
- Trump's tariff threats ahead of deadline for negotiations affect market sentiment.
- Investors monitor US negotiations with trading partners amidst concerns over tariffs impact.
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Bloomberg Quint
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363
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Oil Holds Decline As OPEC+ Set For Bumper Production Quota Hike
- Oil prices remained steady as OPEC+ prepares for a significant production increase, potentially leading to an oversupply later in the year.
- The cartel is discussing a substantial 411,000 barrel-a-day output boost for August, exceeding the originally planned rate to address paused production.
- Concerns linger regarding crude oil volatility due to geopolitical tensions, including potential impacts from the Israel-Iran conflict on supply and demand negotiations with Iran.
- Other factors affecting oil prices include the US's actions on Iran trade restrictions, a wildfire threat in Canada near oil production sites, and global efforts to stabilize heavy crude prices.
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Bloomberg Quint
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376
Stock Market Live: GIFT Nifty Implies Lower Open; Bajaj Finance, ONGC, Vedanta Shares In Focus
- The GIFT Nifty was trading lower, indicating a negative start for the NSE Nifty 50 index.
- Investors are advised to monitor the prices of Vedanta Ltd., Bajaj Finance Ltd., Yes Bank Ltd., and Oil and Natural Gas Corp Ltd.
- On Thursday, Indian benchmark equity indices closed lower for the second consecutive day, influenced by share prices of specific companies.
- Global markets showed mixed trends; Hang Seng fell over 1%, whereas the S&P 500 and Nasdaq Composite hit record highs on upbeat US jobs data.
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Bloomberg Quint
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168
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Oil India — PL Capital's Top Pick To 'Buy' In Oil And Gas Space; Q1 Results Preview
- PL Capital reiterates Oil India as their top pick in the oil and gas space with a target price of Rs 566 due to firm oil prices and consistent volume growth.
- Oil India and ONGC are expected to report an 8% YoY decline in combined sales with flat Ebitda, while RIL's decline in sales is offset by better contribution from non-oil segments.
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Pymnts
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108
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OpenAI Says It Does Not Endorse Robinhood’s Stock Tokens
- OpenAI posted on social media distancing themselves from Robinhood's stock tokens, stating they do not endorse them or partner with Robinhood.
- Robinhood's CEO mentioned that the stock tokens offer retail investors exposure to private assets, but OpenAI's statement impacted Robinhood's stock price causing a 6% drop.
- Robinhood clarified that the tokens are enabled by their ownership stake in a special purpose vehicle, giving customers exposure to private markets.
- Robinhood introduced U.S. stock and ETF tokens in the European Union, offering customers access to over 200 U.S. stock and ETF tokens.
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Bloomberg Quint
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155
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SEBI Bars Jane Street After Rs 43,289 Crore Index Options Profit
- SEBI bars Jane Street Group entities from Indian securities market access.
- Jane Street directed to deposit Rs 4,843.57 crore in escrow account.
- Enforcement action includes trading ban and restrictions on market-related activities.
- Regulator deems trading activities as part of larger coordinated global operations.
- SEBI intervenes immediately due to repeated egregious behaviour risking market integrity.
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Medium
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95
Sourcing and Exits-2
- Companies in the venture ecosystem exit in three primary ways: conversion to common shares, VC involvement post-IPO, and merger or acquisition (M&A).
- M&A is the most common exit route, involving initial contact, due diligence by potential acquirers, negotiation, and VC support throughout the process.
- Bankruptcy and wind down are unfortunate outcomes for companies unable to achieve scale or secure further financing, with VCs playing a role in these difficult decisions.
- Secondary sales of private company shares have emerged as an alternative liquidity avenue, with VCs' opinions influencing potential impact on stock prices and tax considerations.
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TechCrunch
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TechCrunch All Stage brings back early launch prices for a limited time
- TechCrunch All Stage is offering early launch prices for a limited time, saving attendees up to $425.
- The founder summit, TechCrunch All Stage, is scheduled for July 15 in Boston, providing insights for launching or scaling a startup.
- Founders can register for $155 and investors for $250 during this limited-time pricing offer.
- The summit features breakout sessions, roundtables, pitch competitions, networking opportunities, expo hall, and side events with prominent speakers like Jahanvi Sardana and Ellen Chisa.
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Siliconangle
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156
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Qedma raises $26M for its quantum error correction software
- Qedma Ltd., a startup focused on enhancing the reliability of quantum computers, has secured $26 million in early-stage funding led by Glilot Capital Partners.
- Qedma's flagship software platform, QESEM, aims to reduce errors emerging in qubits, allowing quantum chips to perform more complex calculations.
- QESEM collects technical data from quantum computers, identifies potential errors, and applies optimizations to minimize their frequency. It also performs post-processing error correction.
- The funding will be used by Qedma to expand its team and further develop QESEM to address processing errors in quantum computing systems.
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