ITC Ltd announced a 5% increase in its net profit for the March quarter at ₹5,113 crore, exceeding expectations, despite a 7% year-on-year decline in revenue. In another development, Arvind Panagariya advised the RBI against aggressively defending the ₹100-per-dollar threshold in light of rising crude costs and global currency fluctuations. Additionally, N A Soonawala warned that a potential listing of Tata Sons could jeopardize the Tata Group’s established ownership framework and institutional integrity.
On a global scale, Nvidia CEO Jensen Huang stated that the AI revolution is broadening beyond chips into infrastructure and applications, while Elon Musk indicated that a significant portion of his future earnings at SpaceX is tied to long-term ambitions like Mars colonization and space-based data centers.
Pakistan army chief Asim Munir to visit Tehran during US-Iran war peace negotiations
Pakistan Army Chief Field Marshal Asim Munir is anticipated to arrive in Tehran on Thursday, May 21, as diplomatic efforts persist to avert a renewed escalation in the ongoing US-Iran conflict.
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Rupee jumps 52 paise against US dollar as oil prices retreat
The Indian rupee opened significantly higher against the US dollar on Thursday (May 21), gaining 52 paise to 96.30 per dollar compared to the previous close of 96.82/$, as easing crude oil prices and softer US Treasury yields boosted sentiment towards emerging market currencies.
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Apollo Hospitals, Honeywell Automation rally; Sensex falls 135 points, Nifty flat
The equity indices BSE Sensex and NSE Nifty closed flat after a volatile trading day on Thursday (May 21), with a decline in financial and information technology stocks offsetting earlier gains.
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Nvidia CEO breaks down the five layers powering the AI boom
Nvidia CEO Jensen Huang asserts that the AI boom is evolving into a much larger phenomenon than merely a semiconductor cycle. In a CNBC interview following Nvidia’s earnings, Huang stated that the company is contributing to the establishment of a “brand new industry” that encompasses energy, chips, infrastructure, AI models, and applications.
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SpaceX IPO: Elon Musk’s compensation could rise if Mars colonies, space data centres become reality
Elon Musk has linked a significant part of his future earnings at SpaceX to some of the company’s most ambitious undertakings, including creating human habitats on Mars and establishing data centers in space.
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Jeff Bezos shares outlook on AI, space and economy: Here are the key takeaways
Amazon founder Jeff Bezos provided insights on artificial intelligence, space infrastructure, taxation, and the US economy during a comprehensive CNBC interview. The billionaire entrepreneur discussed the feasibility of space-based data centers, defended substantial investments in AI despite bubble apprehensions, and proposed that lower-income Americans should not have to pay federal income tax.
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Proposed Tata Sons listing may undermine 100-year-old structure: Tata Trusts veteran NA Soonawala
Former Tata Sons Vice Chairman NA Soonawala has voiced opposition to a stock market listing for Tata Sons, cautioning that it may weaken the traditional support system and core values of the Tata Group.
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ITC Q4 net profit beats estimates; revenue falls 7%, declares ₹8 dividend
ITC Ltd reported a 5% year-on-year growth in consolidated net profit for the March quarter at ₹5,113 crore, surpassing the ₹4,875 crore reported in the same quarter a year prior. The profit exceeded the CNBC-TV18 poll estimate of ₹4,995 crore.
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Adani’s latest aviation bet: Ground handling
The Indian conglomerate has quietly expanded into airport ground handling, further enhancing its aviation portfolio, which already includes airports, maintenance, and aircraft assembly.
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Arvind Panagariya to RBI: Don’t fear ₹100/$, let Rupee slide amid oil shock
With global crude prices surging and pressure increasing on emerging-market currencies, economist and former Finance Commission Chair Arvind Panagariya has encouraged the Reserve Bank of India not to view the ₹100-per-dollar threshold as an unassailable target.
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We will meet you on Friday with another engaging Top 10@10
