Archive · 2 Jun 2025
Market Dips Amid Global Cues; ITC Profits Rise, OpenAI Buys AI Startup
The stock market had a tough day due to worries about the economy.
Investors were worried about rising interest rates and how much debt the US government might take on.
Some big companies like ONGC and Colgate had disappointing results, which also hurt the market.
Meanwhile, the National Stock Exchange might get to have its weekly options expire on Tuesdays.
ITC made a lot of money, and Bajaj Auto is investing in a motorcycle company called KTM.
The Supreme Court is also looking into a money laundering case involving TASMAC, and OpenAI is buying an AI startup from Jony Ive.
Also, there was a shooting at a Jewish museum in DC.
Asian markets fell, mirroring Wall Street's decline due to rising US Treasury yields and a stronger yen.
Indian stocks declined nearly 1%, with ONGC and Colgate experiencing significant drops.
NSE is likely to get Tuesday as its weekly options expiry day following a SEBI review.
ITC's net profit surged four-fold, driven by exceptional gains, and revenue exceeded expectations.
OpenAI is acquiring Jony Ive's AI startup in a $6.5 billion deal, entering the hardware space.
- Who
- Stock markets, ITC, Bajaj Auto, OpenAI, ED, Israeli Embassy
- What
- Markets declined, ITC profit rose, Bajaj invested in KTM, OpenAI acquired an AI startup, ED's TASMAC case criticized, and two Israeli embassy staff members were killed.
- When
- Recent days
- Where
- Global markets, India, US, Austria
- Why
- Weak global cues, disappointing earnings, rising interest rates, and economic concerns
- ITC Q4 FY25 Net Profit
- 4-fold jump to ₹19,561.6 crore
- ITC Q4 FY25 Revenue
- ₹17,248 crore
- Bajaj Auto Funding for KTM
- ₹800 million
- Secured Term Loan to KTM
- €450 million
- OpenAI Acquisition of io
- $6.5 billion
- Israeli Embassy Staff Deaths
- Two