News Overview

U.S. West Texas Intermediate crude futures increased by 33 cents, or 0.39%, to $83.90 a barrel, while Brent crude futures gained 34 cents, or 0.38%, to $89.35 a barrel.

Tech Mahindra secured net new deals worth $500 million in Q4 FY24, showing improvement from the previous quarter.

The Bank of Japan maintained its target range for short-term interest rates at 0-0.1% and forecasted inflation to remain at 2% for the following three years.

Despite slow first-quarter economic growth in the U.S., inflationary pressures have strengthened, reducing expectations of interest rate cuts before September.

Last month, Adani Green issued a $409 million dollar note, which was oversubscribed seven times, indicating strong investor confidence despite previous controversies

Its net interest margin (NIM) was 4.26%, compared to 4.28% in Q4 FY23 and 4.29% in Q3 FY24.

The listing date for the JNK India IPO is scheduled for Tuesday, April 30, marking the next milestone in the IPO journey.

Building a new electric arc furnace while maintaining the existing steel melting shop would be risky and complex.

Suresh Narayanan, chairman and managing director of Nestlé India, expressed that this collaboration will empower them to develop a strong retail and distribution infrastructure.

For the quarter to March 2024 (Q1-2024), the US Bureau of Economic Analysis (BEA) has published the first estimate of first quarter growth for 2024. The GDP growth rate at 1.6% is sharply lower than the previous 2 quarters. Of course, this is only the first advance estimate and will undergo further changes in the second and the final estimate. This is also sharply lower than the Atlanta Fed GDP estimate which had pegged the GDP growth for the first quarter between 2.6% and 2.8%. It would, therefore be interesting to see what were the factors that actually pushed the Q1 GDP to 1.6%.