Moneycontrol Selects: Top stories this evening

MC selects

Here is a collection of the most important stories this evening:

Glad to see Vodafone Idea raise money; India to benefit from 3 strong private telcos, says Airtel's Gopal Vittal

Bharti Airtel managing director Gopal Vittal has said India will benefit from three strong private telecom providers operating in the country. “As far as the industry structure is concerned, I'm glad to see that Vodafone Idea has raised money and I really wish them well. I think India will be well served if it has three operators -- three good, three private operators working there,” Vittal said during an earnings call on May 15. Read more

M&M hits new record high a day ahead of Q4 results; stock up 32% in 2024 so far

Shares of Mahindra and Mahindra Ltd (M&M) gained 1.5 percent to hit an all-time high of Rs 2,306 apiece on May 15 a day before the auto major is scheduled to announce its January-March quarter (Q4FY24) results. Read more

Global shares at record high ahead of US inflation data; meme mania heats up

Global shares rose while the dollar retreated on Wednesday, after a hot reading of U.S. wholesale inflation set a nervous tone for trading ahead of the consumer price report that could prove decisive in when the Federal Reserve cuts interest rates. Read more

Merchandise trade deficit widens to $19.1 billion in April

India's trade deficit widened to $19.1 billion in the first month of fiscal year 2024-25 as against $15.6 billion in March 2024 owing to a steep fall in exports. The deficit figure stood at $14.44 billion in April 2023. Read more

MC selects

Mark Mobius says market volatility driven by election uncertainty

Renowned emerging markets investor Mark Mobius has attributed the current market volatility to election uncertainty, emphasising that elections significantly impact the market as people closely monitor the outcomes. In elections, everyone is involved emotionally to some degree, said Mobius in an interaction with CNBC-TV18. Read more

Siemens demerger could create more room for value unlocking despite high valuation

Shares of Siemens soared 7% after the company’s board approved the demerger of its energy business into a new entity, Siemens Energy India Limited, set to be listed on BSE and NSE. This move is part of Siemens’ global restructuring plan but is seen as a positive development by analysts. Both the energy and infrastructure/mobility verticals will benefit from a sharper focus, especially with abundant growth opportunities for both sectors, analysts said. Read more

'Deliberate neglect' of infrastructure: FM Sitharaman blames Congress for 'wasted potential' during UPA years

Finance Minister Nirmala Sitharaman in a social media post has targeted the 'wasted growth potential' during the UPA years, partly because of a 'noticeable and deliberate neglect' of infrastructure creation. Read more