Thursday Update: You'll Always Hear it First!

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In today’s edition: Kotak Bank sends ripples through Indian equities after RBI ban; JioCinema has caught the attention of international media; HUL bids goodbye to ‘health’ tag; Indian IPOs do it again, see our market coverage for details; Economic data for several countries is out and we report on major players; First Tesla, now Meta reports weaker than expected earnings. But, Meta is not back down in AI race! The tech giant has now joined hands with Ray-Ban to marry style with wearable tech

TODAY’S HIGHLIGHTS

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  1. RBI Slams Brakes on Kotak Mahindra Bank: 💳️ Halts new customer onboarding and credit card issuance due to IT system failures! 😱🚫

  2. JioCinema Heats Up Streaming with Game-Changing Offer: After free streaming IPL matches, offers Hollywood hits for ₹1 a day 🏏🎥

  3. New Nepali Government's Anti-India Stance Puts Delhi in a Diplomatic Bind 🇮🇳🇳🇵Communist government backed by China 🤝 ; Targets friendship treaty and territorial dispute 🎯 

  4. Hindustan Unilever Adapts to Regulatory Shift: 🥛🆕 Renames category to ‘Functional Nutritional Drinks’ as ‘Health Drink’ definitions evolve 🔄🏷️

  5. Indian Rupee Faces Uphill Battle: 😓 Rupee set to open marginally weaker amidst rising U.S. treasury yields and Asian market losses 💵🌏 

THE MARKET MOVEMENT

  1. Auto-Ancillary: 📈 Bharat Forge rallies over 5% on BofA's bullish outlook, cites solid defence revenues and export performance

  2. Banking: 🏦 RBI action on Kotak Mahindra Bank wipes out ₹4,281 crore from mutual funds after stock plummets 10% 🔻 

  3. Telecom: ☎️ After yesterday’s fall, Vodafone Ideas shares show strong bounceback with +25% share price above FPO price; Hit ₹13.75 mark in morning trade 📈💼 

  4. IPO: JNK India subscribed 1.37x on Day 3, non-institutional investors drive demand (closes today 📈🚗 Emmforce Autotech oversubscribed 69.25x on Day 2, retail and HNI investors drive demand (closes today)📊🧪 Shivam Chemicals subscribed 1.93x on Day 2 💍 Varyaa Creations sees 1.9x subscription on Day 3

GEOPOLITICS SPOTLIGHT

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  1. Iranian Rapper Sentenced to Death: 🎤⚖️ Toomaj Salehi was on trial for protest lyrics and social media posts 💔

  2. Biden-Trump Race Tightens in Swing States: 📉🗳️ Biden's polling lead dwindles in key states as economic concerns mount ⚖️

  3. Malaysia's CPI Rises 1.8% in March: Housing, food and energy costs drive increase 🏠🍲 

  4. German Business Confidence Surges: 📈🇩🇪 Hits 1 yr high, signaling economy's recovery despite manufacturing challenges

  5. Russia Boosts 2024 Growth Forecast Amid Strong Domestic Demand: 📈🇷🇺 Strong job market and wage rises drive economic growth, despite western sanctions and global challenges 💪🌍

  6. US DoT Implements New Airline Regulations: ✈️ Mandates easier refunds for significant 🧑‍✈️ flight changes, 🛄 lost baggage, and ♿️ unreceived services💰Drives up costs for industry

  7. Japanese Yen Weakens: 💴 Hits 155 per dollar for first time since 1990, Japan ready to intervene to curb excessive depreciation 💱📉

  8. US Focuses on Next-Generation Electronic Components: 🇺🇸🔬 $11 billion earmarked for research Investment, aimed at beating Beijing in technology race 💡🏃‍♀️ 

TECH NEXUS

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  1. Ray-Ban Meta Smart Glasses, a Hands-Free Extension of Your Smartphone Experience: 🕶️🚀 Redefines wearable tech with multimodal AI capabilities; Translate, identify, and stay connected with everyday wear 🔍🗣️

  2. IBM's Strategic Move:♟️ Acquiring HashiCorp for $6.4B to bolster hybrid cloud portfolio! 🚀💻

  3. Meta Platforms Inc.'s Disappointing Earnings Rattles Investors: 😟 Raises questions on AI euphoria, triggers tech sell-off; Microsoft and Alphabet will report earnings on Thursday 🤖💰

  4. Meta's Threads Sees Steady Growth: 📱🌐 Threads grows to 150 million monthly users 🎉 Expands integration with ActivityPub

  5. Breaking AI Barriers: 💪🔥 Microsoft's Phi-3 Mini redefines small language model performance! 🌐🔝 Packs power of 3.8B Parameters!

  6. Next Generation Air Dominance: 🇺🇸✈️ Anduril Industries and General Atomics secure deal to develop 1000 unmanned fighter jets for US Air Force

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