Japan and the United States intervened jointly to support the Japanese yen currency. This rare action aimed to prevent further declines and global economic spillovers. Central bank data suggests Japan spent billions of dollars during the intervention. Officials vowed to take further coordinated action if needed to stabilize the yen. The intervention follows recent solo actions by Japan to prop up its currency.
Sebi has exempted six Muthoot family trusts from an open offer requirement. This exemption pertains to the indirect acquisition of shares in Muthoot Microfin. The restructuring involves multiple share transfers among family trusts and spouses. Muthoot Fincorp's board approved an IPO, necessitating transaction structure changes. The exemption is valid for one year and subject to reporting conditions.
Paintmaker cites healthy demand despite geopolitical disruptions; expects festive season to support growth.
Indian equities rallied sharply as easing oil prices following renewed US-Iran talks boosted sentiment. Sensex gained 544 points and Nifty surged 1.6%, adding nearly Rs 5 lakh crore in market value, while FII inflows, a stronger rupee and upbeat earnings supported optimism.
The government will launch LIC’s offer for sale for non-retail investors on Tuesday and retail investors on Wednesday. It plans to divest up to 6.5% through a base 2.5% offer and green shoe option, advancing minimum public shareholding compliance.
Amazon crossed a $3 trillion market valuation after strong earnings and robust cloud growth reinforced confidence in its AI investments. Shares hit a record high, while investors rewarded the company for demonstrating improving returns from heavy AI infrastructure spending.
MakeMyTrip reported a 19.9% year-on-year rise in Q1 gross bookings to $2.85 billion, while revenue and adjusted operating profit increased despite travel disruptions. Strong growth across hotels, buses and AI-powered Myra 2.0 reinforced confidence in India’s long-term travel demand.
Sebi has granted a new extension for investment advisers and research analysts regarding their enrolment, now set for September 3, 2026. This delay allows participants more time to finalize their registrations, facilitating a more seamless rollout of the performance data framework. It’s essential for advisers and analysts to enroll to provide their past performance metrics.
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