New US Federal Reserve chair Kevin Warsh vowed to be "reform-oriented" as he was sworn in at the White House on Friday, with President Donald Trump insisting the central bank chief would be "totally independent." It is unusual for the chief of the Fed -- an independent non-partisan body that sets monetary policy according to a dual mandate on inflation and employment -- to be sworn in at the White House.
US consumer sentiment fell to a record low in May as rising gasoline prices driven by the Iran war intensified cost-of-living pressures. Inflation expectations climbed sharply, especially among Republicans and independents, signalling growing economic dissatisfaction and posing risks to spending despite a still-resilient labour market and ongoing stock market gains.
DP Abhushan Ltd reported an impressive 88% surge in annual profit for FY26, reaching Rs 211.84 crore, driven by strong store demand and network expansion. Revenue grew 23% to Rs 4,070.33 crore, with EBITDA margins improving significantly. The company also expanded its showroom network to 12 outlets and implemented hedging strategies to manage gold price volatility.
Deepa Jewellers, a B2B hallmarked gold jewellery processor based in Hyderabad, and Cotec Healthcare, a pharmaceutical CDMO, both received SEBI approval for their IPOs. Deepa's IPO includes a Rs 250 crore fresh issue and an offer for sale by promoters.
The market regulator Sebi barred seven individuals for allegedly generating Rs 58 crore in wrongful gains by using social media (including X) to disseminate stock recommendations. They allegedly traded ahead of their posts to profit from price movements in small and mid-cap stocks.
Central Bank of India shares fell sharply after the government initiated an 8% stake sale through an offer for sale at a floor price of Rs 31. Investors reacted despite the lender reporting strong annual profit growth and healthy expansion in advances.
US Federal Reserve Governor Chris Waller on Friday added his voice to a growing bloc of policymakers calling for the US central bank to indicate that its next move could be an interest rate hike. Three Fed regional presidents backed removing the easing bias language, while one governor backed an interest rate cut.
NTPC Green Energy's Q4 FY22 consolidated net profit fell 15% YoY to ₹197 crore despite a 47% revenue increase to ₹913 crore. The decline was caused by a 60% rise in expenses (₹713 crore). However, the profit surged 11X sequentially from the previous quarter.
MF Performance
Major Indices
