HP India will start producing locally laptops, PCs, and all-in-one systems starting in May in association with Dixon Technologies. The company anticipates to almost double its production this year over the previous one due to the IT Hardware PLI scheme support, which it joined last year 2023. Despite the criticism of India's new import management regulations by the US, HP is optimistic about its India...
Investcraft Market Updates
The US House Foreign Affairs Committee came down heavily on The New York Times for the way it covered the April 22 terror strike in Pahalgam, Kashmir, which killed 26 individuals—tourists for the most part—in which the committee took umbrage with the NYT's adoption of the term "militants" rather than "terrorists" as its headline and posted a revised version, deeming the strike "a TERRORIST ATTACK plain...
Escalating tensions between Pakistan and India have sent shudders through financial markets, triggering a sharp drop on the Pakistan Stock Exchange (PSX). The KSE-100 index plunged by 1,086.51 points during the course of the day to reach 116,139.63 by mid-morning on Thursday. The market response comes following rising diplomatic tensions after an April 22, 2025, terrorist attack on Pahalgam, India, took 26...
After investing in Indian debt for four consecutive months, Foreign Portfolio Investors (FPIs) have done a turnabout and withdrawn more than $2.27 billion in April—the largest monthly outflow since May 2020 and the first since November 2024. The selloff is prompted by global and regional pressures such as profit-taking in Asia and deteriorating external conditions, say analysts. A key reason is the...
Power Finance Corporation Ltd (PFC), a state-owned financial institution, has registered a complaint with Delhi Police's Economic Offences Wing (EoW) against Gensol Engineering Ltd. The complaint accuses Gensol of producing false documents. PFC stated that it's determined to secure its loan recovery and ensure transparency. In a statement issued on April 22, PFC made it clear that it never issued any...
Approximately 12 tourists were hurt in a horrific terror attack in Pahalgam, Jammu and Kashmir, on Tuesday. There are reports that there could be deaths, and special forces have been sent to the region. Early reports indicate that unidentified gunmen fired at a group of tourists who had gone there for a trekking expedition. An eyewitness, talking on the phone to PTI, reported that her husband was shot...
IndusInd Bank stocks declined 6% to ₹776 on April 22 following reports that the board has hired Ernst & Young (EY) to carry out a second forensic audit. The audit will look into the ₹600 crore shortfall in interest income from the bank's microfinance book. This fresh probe is parallel to an ongoing investigation by Grant Thornton Bharat into accounting concerns with the bank's forex derivatives....
India's smartphone market declined by 8% year-on-year in Q1 2025 to 32.4 million units, Canalys reports. Xiaomi and Samsung were the worst affected, losing substantial market share as a result of poor demand and overstocking. Xiaomi’s shipments (including Poco) fell by 38%, slashing its market share from 18% to 12% — the biggest decline among major brands. Samsung’s shipments dropped 23% to 5.1...
The Indian equity market will be closed for three consecutive days from Friday, April 18, 2025, to mark Good Friday, followed by the standard weekend closing. The BSE and NSE will resume trading on Monday, April 21, 2025. No trading or settlement operations in equities, derivatives, or SLB segments will take place on April 18. The following market holiday following Good Friday will be May 1, 2025,...
Sonata Software shares dropped more than 12% in initial trading on Thursday, April 17, following the warning that its international business performance had adversely affected its fourth-quarter revenue for FY25. The drop is primarily due to the fact that revenue from its largest client is likely to be lower than anticipated, owing to the prevailing trade tensions and fresh tariffs by the...