Pentair shares dropped sharply after the company cut its annual forecast, citing weak demand in its pool segment. High interest rates and inflation have pressured spending on outdoor projects, while distributors continue inventory cuts. The outlook signals a deeper slowdown in the pool equipment industry and broader demand concerns.
Federal Reserve Governor Lisa Cook signalled readiness to act if inflation fails to ease, while allowing more time to assess trends. She flagged rising risks from AI investment, tariffs and geopolitical tensions. With inflation still above target, markets are increasingly factoring in the possibility of a rate hike later this year.
SpaceX shares slipped below their IPO price for the first time, signalling fading investor enthusiasm after a strong debut. The decline highlights valuation concerns, broader market pressure and risks tied to high-growth stocks. Despite strong initial demand, the company’s lack of profitability and early-stage projects continue to weigh on sentiment.
In the June quarter, Angel One reported impressive financial growth, with consolidated profit after tax soaring to Rs 231.4 crore, more than doubling year-on-year. The company experienced a robust 25.4 percent increase in total income, reflecting its expanding influence in the market. Additionally, its client base surged to 3.86 crore, prompting the declaration of an interim dividend of Re 1 per equity share.
Tata Capital successfully raised $400 million by selling dollar bonds abroad. Asian and European asset managers dominated demand for these instruments. The bonds mature in 42 months and were priced tightly. This marks Tata Capital's second overseas dollar bond sale. Fitch Ratings affirmed the company's ratings at 'BBB-' in February.
Indian equities ended marginally higher after surrendering most intraday gains. Softer US inflation data supported sentiment, while elevated crude prices, West Asia tensions and mixed sector performance kept markets volatile. Analysts expect Nifty to remain range-bound unless it breaks above 24,350.
In a significant move, SEBI has established a formal framework for recusal among its senior officials. This code mandates that officials withdraw from matters where conflicts may arise, including personal, professional, and financial interests. Additionally, the regulator will keep digital records of recusals, ensuring that annual data is made available to the public for enhanced transparency.
Federal Reserve Chairman Kevin Warsh has shown keen interest in probing a discussion that took place between a top regulator and participants from the market. This meeting followed a recent Federal Reserve rate decision. Warsh clarified that he would not interfere with the ongoing investigations led by the internal watchdog, opting instead to await the findings from the independent inspector general.
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