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☆ Indian shares open marginally higher; Jio Financial listing eyed
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: 1 min

The new logo of the Bombay Stock Exchange (BSE) building is seen in Mumbai, India, July 12, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Aug 21 (Reuters) - Indian shares opened marginally higher on Monday, aided by broad sectoral gains, in contrast to weakness in Asian equities on China's smaller-than-expected rate cut, ahead of Jio Financial Services' listing on stock exchanges. The Nifty 50 (.NSEI) index was up 0.18% at 19,346.50 while the S&P BSE Sensex (.BSESN) rose 0.18% to 65,066.25 at 9:19 a.m. IST. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Eileen Soreng and Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Bharath Rajeswaran, Eileen Soreng, Sonia Cheema Organizations: Bombay Stock Exchange, REUTERS, Rights, Jio Financial, BSE, Thomson Locations: Mumbai, India, Bengaluru

☆ Chandrayaan-3: what to know about India’s moon landing mission
▼ + stars: | 2023-08-21 | by ( Nivedita Bhattacharjee | ) www.reuters.com time to read: +3 min

The Chandrayaan-3 mission was launched on July 14 from India's main space port in the southern state of Andhra Pradesh. Here are key facts about the Indian Space Research Agency's (ISRO) Chandrayaan-3 mission. Rough terrain is one of the complications for a south pole landing. Russia's first moon mission in 47 years failed over the weekend when its Luna-25 spacecraft crashed into the moon. Modi said when the moon mission launched that ISRO was writing "a new chapter in India's space odyssey" and elevating "the dreams and ambitions of every Indian."

Persons: Francis Mascarenhas, Russia's, Bill Nelson, India's, Luna, Narendra Modi's, Modi, Kevin Krolicki, Bernadette Baum Organizations: REUTERS, Rights, Indian Space Research, Reuters, ISRO, Thomson Locations: Mumbai, India, Andhra Pradesh, Chandrayaan, USSR, United States, China

☆ Indian shares open lower amid risk aversion in global equities
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: 1 min

A man walks past the new logo of the Bombay Stock Exchange (BSE) building in Mumbai, India, July 12, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Aug 17 (Reuters) - Indian shares opened marginally lower on Thursday, tracking weakness in Asian peers on worries over China's economy and Wall Street on interest rate concerns. The Nifty 50 (.NSEI) index was down 0.14% at 19,436.30 while the S&P BSE Sensex (.BSESN) fell 0.15% to 65,439.50 at 9:15 a.m. IST. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sohini Goswami and Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Bharath Rajeswaran, Sohini Goswami, Sonia Cheema Organizations: Bombay Stock Exchange, REUTERS, Rights, BSE, Thomson Locations: Mumbai, India, Bengaluru

☆ Indian rupee drops below 83/USD, RBI likely intervenes
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, Aug 14 (Reuters) - The Indian rupee on Monday declined below 83 to the U.S. dollar for the first time since October 2022, prompting the Reserve Bank of India to intervene, three traders told Reuters. The rupee was at 82.9650 to the dollar by 09:32 a.m. IST, down from 82.8450 on Friday. "It's obviously not a surprise that the RBI is there, but today seemed like the kind of day where it was possible they would relent". The Korean won, the Malaysian ringgit and the Indonesian rupiah were down between 0.6% and 0.8%. Reporting by Nimesh Vora; Editing by Savio D'Souza and Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Nimesh Vora, Savio D'Souza, Sonia Cheema Organizations: U.S, Reserve Bank of India, Reuters, Korean, Malaysian, Thomson Locations: MUMBAI

☆ Over 50 killed in Indian Himalayas as rain triggers landslides
▼ + stars: | 2023-08-14 | by ( Shivam Patel | ) www.reuters.com time to read: +3 min

NEW DELHI, Aug 14 (Reuters) - Torrential rain in India's Himalayas triggered landslides over the weekend that have killed over 50 people, with the death toll expected to rise as more than 20 remain trapped or missing, officials said on Monday. Television footage from India's Himachal Pradesh state showed houses flattened by landslides, buses and cars hanging on the edge of precipices after roads gave way, and hundreds of people at rescue sites as emergency workers struggled to clear debris. [1/3]Rescue workers remove the debris as they search for survivors after a landslide following torrential rain in Shimla in the northern state of Himachal Pradesh, India, August 14, 2023. Schools and other educational institutes were ordered to close in Himachal Pradesh and people in vulnerable areas were being moved to relief shelters, state officials said. Uttarakhand state authorities announced that the Char Dham pilgrimage route would be closed until Tuesday following landslides.

Persons: Sukhvinder Singh Sukhu, Sukhu, Stringer, Praveen Bhardwaj, Bhardwaj, Shivam Patel, Saurabh Sharma, Sakshi Dayal, Robert Birsel, Christina Fincher, Sharon Singleton Organizations: Twitter, Reuters, REUTERS, Uttarakhand Disaster Management, India Meteorological Department, Thomson Locations: DELHI, India, Pakistan, Nepal, Himachal Pradesh, precipices, Shimla, Solan, Mandi district, Himachal, Uttarakhand, New Delhi, Lucknow

☆ Indian shares set to open lower; domestic inflation data in focus
▼ + stars: | 2023-08-14 | by ( Manvi Pant | ) www.reuters.com time to read: +2 min

A security guard walks past the logo of the National Stock Exchange (NSE) inside its building in Mumbai, India, May 28, 2019. REUTERS/Francis Mascarenhas/File PhotoBENGALURU, Aug 14 (Reuters) - Indian shares on Monday are expected to start on a slightly weaker note in the holiday-truncated week as earnings season draws to a close, ahead of domestic retail inflation data due later in the day. India's GIFT Nifty on the NSE International Exchange was down 0.28% at 19,432 at 7.58 a.m. IST. Foreign investors sold shares worth 30.73 billion Indian rupees ($370.80 million) on Friday, according to provisional data from the National Stock Exchange (NSE). ($1 = 82.8740 Indian rupees)Reporting by Manvi Pant in Bengaluru; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Manvi, Eileen Soreng Organizations: National Stock Exchange, REUTERS, NSE, Reserve Bank of India's, ITC, Vodafone, BSE, Associates, Deloitte, Natural Gas Corporation, Jindal Steel, Thomson Locations: Mumbai, India, BENGALURU, China, Beijing, Manvi Pant, Bengaluru

BENGALURU, July 26 (Reuters) - Indian shares advanced on Wednesday, boosted by gains in index heavyweights Reliance Industries, Larsen & Toubro (L&T) and Tata Motors, ahead of the U.S. Federal Reserve's monetary policy decision. Automaker Tata Motors (TAMO.NS) jumped as much as 4.06% to a record high after reporting a better-than-expected profit in the June quarter and a capital restructuring plan. Index heavyweight L&T (LART.NS) climbed 3.71% to a record high on strong first-quarter results and approval of a share buyback plan. L&T and Tata Motors were the top Nifty 50 gainers. In contrast to Indian equities, Asian peers were subdued ahead of the Fed policy decision, due at 11:30 p.m. IST.

Persons: Toubro, Anita Gandhi, Rahul Sharma, Bharath Rajeswaran, Dhanya Ann Thoppil, Eileen Soreng Organizations: Reliance Industries, Larsen, Tata Motors, U.S, U.S . Federal, BSE, Arihant, Thomson Locations: BENGALURU, U.S ., Qatar, Bengaluru

REUTERS/Anushree Fadnavis/File PhotoBENGALURU, July 20 (Reuters) - Jio Financial Services (JFS) has been valued at around $20 billion after its stock price was set at a much higher-than-expected 261.85 rupees ($3.19) in its demerger from Indian billionaire Mukesh Ambani's Reliance Industries (RELI.NS). At a $20 billion valuation, Jio Financial would be one of the top 40 Indian companies by market capitalisation, in a list headed by Reliance at $233 billion. The price was determined as 261.85 rupees, or the difference between 2,841.85 rupees, Reliance's closing price on Wednesday, and 2,580 rupees, its price at the end of the special session. JFS's stock price is higher than analysts' estimate of 160 rupees to 190 rupees. Reliance Strategic Investments, the unit to be renamed JFS, late on Wednesday reported a net profit after tax of 1.45 billion rupees ($17.7 million) for April-June based on revenue of 2.15 billion rupees.

Persons: Anushree, Mukesh, Chokkalingam, JFS, Ira Dugal, Savio Shetty, Savio D'Souza, Jamie Freed Organizations: Mobile, REUTERS, Jio Financial, Reliance Industries, Reliance, Macquarie Research, AAA, Reliance Strategic Investments, Thomson Locations: Pragati, New Delhi, India, BENGALURU

☆ Indian shares pare early gains as IT stocks reverse course
▼ + stars: | 2023-07-19 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

REUTERS/Niharika Kulkarni/File photoBENGALURU, July 19 (Reuters) - Indian shares trimmed gains on Wednesday, as information technology stocks reversed early gains and offset the broad sectoral rise, ahead of the June-quarter earnings of top companies. The Nifty 50 (.NSEI) index rose 0.18% to 19,784.25, with the S&P BSE Sensex (.BSESN) in toe at 66,921.20, as of 12:56 p.m. IST. High-weightage IT stocks (.NIFTYIT) erased 0.5% gains and are on course to snap a four-day winning streak. Among individual stocks, NTPC (NTPC.NS) rose over 4%, topping the Nifty 50 after brokerage Goldman Sachs identified it as the top pick in the power sector. Several other Nifty 50 constituents, including Infosys (INFY.NS), Ultratech Cement (ULTC.NS), Reliance Industries (RELI.NS), and ICICI Bank (ICBK.NS) will report their quarterly earnings later this week.

Persons: Niharika Kulkarni, Narendra Solanki, Anand, Goldman Sachs, Bharath Rajeswaran, Sonia Cheema, Dhanya Ann Thoppil Organizations: Bombay Stock Exchange, REUTERS, BSE, TV18, U.S . Federal Reserve, Investment Services, IndusInd Bank, Hindustan Unilever, Infosys, Ultratech, Reliance Industries, ICICI Bank, Thomson Locations: Mumbai, BENGALURU, U.S, Europe, Bengaluru

☆ Reliance - Jio Financial Services demerger: what you need to know
▼ + stars: | 2023-07-19 | by ( Chris Thomas | ) www.reuters.com time to read: +3 min

Five analysts estimate that Reliance's Jio Financial Services will be valued at 160-190 rupees per share. However, Jio Financial Services' stock will be included in the indexes, including the blue-chip Nifty 50 (.NSEI), but will not trade until it is listed. Jio Financial Services' listing date is widely expected to be announced at Reliance's forthcoming annual general meeting. THE DEMERGERReliance announced last October that it would demerge and list its financial services business - Reliance Strategic Investments - which will be renamed Jio Financial Services (JFS). Reliance shareholders would get one share of Jio Financial Services for holding one share of Reliance.

Persons: Mukesh, Hitesh Sethia, Chris Thomas, Anil D'Silva Organizations: Reliance Industries, Jio Financial, Reliance, National Stock Exchange, Bombay, Exchange, Jio Financial Services, NSE, DEMERGER Reliance, Reliance Strategic Investments, Kamath, ICICI Bank, Macquarie Research, AAA, Thomson Locations: BENGALURU, Bengaluru

☆ Indian shares hit fresh record highs as earnings season kicks off
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, July 17 (Reuters) - Indian shares opened higher to hit fresh all-time highs, aided by broad sectoral gains as earnings began trickling in, shrugging off weakness in Asian markets on lacklustre economic data from China. The Nifty 50 (.NSEI) index rose as much as 0.24% to 19,612.15, while the S&P BSE Sensex (.BSESN) gained 0.19% to 66,189.50, as of 9:19 a.m. IST. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann Thoppil and Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

Persons: Bharath Rajeswaran, Dhanya Ann Thoppil Organizations: BSE, Thomson Locations: BENGALURU, China, Bengaluru

☆ Indian shares open lower as US jobs data fuels rate concerns
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, July 7 (Reuters) - Indian shares opened lower on Friday, tracking weakness in global peers, after data indicating strength in the U.S. labour market fuelled concerns of further monetary policy tightening by the Federal Reserve. The Nifty 50 (.NSEI) index was down 0.32% at 19,435.30, while the S&P BSE Sensex (.BSESN) fell 0.25% to 65,623.40, as of 9:15 a.m. IST. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Bharath Rajeswaran, Varun Organizations: Federal Reserve, BSE, Thomson Locations: BENGALURU, U.S, Bengaluru

☆ Indian shares hit record highs on positive global cues
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, July 3 (Reuters) - Indian shares opened higher on Monday, with the benchmarks surging to fresh record highs for the third consecutive session, as sentiment improved on signs of moderating inflation in the United States. The Nifty (.NSEI) index rose as much as 0.43% to a new all-time high of 19,271.45. The S&P BSE Sensex (.BSESN) also rose 0.41% to 64,9580.83, as of 9:17 a.m. IST. The Nifty Auto index (.NIFTYAUTO) rose 0.33% to a record high while high weightage bank index (.NSEBANK) also hit a new all-time high. ($1 = 82.0355 Indian Rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Varun H K and Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Bharath Rajeswaran, Varun Organizations: BSE, Thomson Locations: BENGALURU, United States, Bengaluru

☆ Indian shares set for muted start to week after Russia turmoil
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, June 26 (Reuters) - Indian shares were set for a muted open on Monday, on the heels of their first weekly loss in over a month, as crude prices rose on supply concerns after a short-lived mutiny by mercenaries in Russia. Foreign institutional investors sold a net 3.45 billion rupees ($42.1 million) worth of Indian equities on Friday, while domestic investors sold 6.84 billion rupees of shares, as per provisional NSE data. STOCKS TO WATCH:** ICICI Bank (ICBK.NS), ICICI Securities (ICCI.NS): Boards of the companies to consider delisting of ICICI Securities shares on June 29. ** HDFC Life Insurance Company: India's insurance regulator granted approval for transfer of its shares from HDFC Ltd (HDFC.NS) to HDFC Bank (HDBK.NS). ** Shree Cement (SHCM.NS): NDTV reported that tax evasion to the tune of 230 billion rupees ($2.80 billion) has been found in tax searches at multiple locations of Shree Cement in Rajasthan.

Persons: Wagner, Brent, Chris Thomas, Biplob Kumar Das, Eileen Soreng Organizations: Singapore Exchange, BSE, ICICI Bank, ICICI Securities, Life Insurance, HDFC Ltd, HDFC Bank, Ipca, U.S, FDA, of Maharashtra, Axis Bank, Kashmir Bank, NDTV, Shree, Thomson Locations: BENGALURU, Russia, Russian, Moscow, Asia, India, Pithampur, Jammu, Kashmir, Shree Cement, Rajasthan, Bengaluru

☆ India's Shree Cement slumps after report of $2.81 bln tax evasion
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, June 26 (Reuters) - India's Shree Cement (SHCM.NS) fell on Monday, after NDTV reported on Saturday that tax evasion amounting to 230 billion rupees ($2.81 billion) was found in searches at multiple company locations. Deductions claimed by Shree Cement are false and the company siphoned 12 billion rupees to 14 billion rupees every year, the report added, citing sources, but without specifying the timeline. Shree Cement and the IT department did not immediately respond to Reuters' request for comments. The company's standalone tax expenses fell over 58% YoY to 2.31 billion rupees in the financial year ended March 31, while profit fell 44% to 13.28 billion rupees on a surge in other costs. Shree Cement said on Saturday that the survey was still ongoing, and that its management team is extending full co-operation to officials.

Persons: Shree Cement, Varun Vyas, Varun Organizations: NDTV, Shree Cement, Reuters, Shree, Thomson Locations: BENGALURU, Rajasthan, Bengaluru

☆ Indian rupee adds to opening losses; traders indicate possible outflow, yuan
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, June 20 (Reuters) - The Indian rupee declined on Tuesday, weighed by likely dollar outflows and a weaker Chinese currency, traders said. The rupee was quoted at 8.1425 to the dollar by 11:06 a.m. IST, compared with 81.9350 in the previous session. "The price action since the open suggests that there is definitely an outflow," a spot trader at a public sector bank said. The offshore Chinese yuan dropped below 7.18 to the dollar, pulling most other Asian currencies lower. The dollar index managed to push higher to 102.62 on the back of the weaker offshore yuan.

Persons: Jerome Powell's, Nimesh Vora, Sonia Cheema Organizations: U.S, Federal, Thomson Locations: MUMBAI, China

☆ Farhad Manjoo on ‘South Park’ - The New York Times
▼ + stars: | 2023-06-20 | by ( Farhad Manjoo | ) www.nytimes.com time to read: +3 min

But it isn’t the topicality of “South Park” that best explains America. In “South Park,” correctness of any sort — religious, scientific, pedagogical, geopolitical or whatever else — is sus. For Donald Trump Jr., “South Park” memes are the height of wit. In 2018 “South Park” even acknowledged that Al Gore was right: ManBearPig turned out to be real. But the damage was done; the monster had already begun to eat the people of South Park.

Persons: topick, ”, Trey Parker, Matt Stone’s, Parker, Stone, Donald Trump’s, Vladimir Putin’s thuggery, Ron DeSantis, Barack Obama, Donald Trump, Stone’s, they’ve, Eric Cartman’s —, Andrew Sullivan, “, Donald Trump Jr, Ben Shapiro, Steven Crowder, Cartman, Bob White, Al Gore, ManBearPig Organizations: Trump Locations: America, Colorado, South Park

☆ Indian shares open lower ahead of Powell testimony
▼ + stars: | 2023-06-20 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: 1 min

BENGALURU, June 20 (Reuters) - India's Nifty 50 and Sensex stock indexes opened lower on Tuesday, tracking Asian peers, as caution prevailed across global equities a day ahead of U.S. Federal Reserve Chair Jerome Powell's congressional testimony. The blue-chip Nifty (.NSEI) index fell 0.10% to 18,739.10 as of 9:16 a.m. IST, while the benchmark S&P BSE Sensex (.BSESN) lost 0.07% to 63,123.17. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia Cheema and Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Jerome, Bharath Rajeswaran, Sonia Cheema Organizations: U.S . Federal, BSE, Thomson Locations: BENGALURU, U.S, Bengaluru

☆ India's Nifty 50, Sensex open higher ahead of Powell's speech
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, June 19 (Reuters) - India's Nifty 50 and Sensex stock indexes extended gains from last week on Monday ahead of China's interest rate decision and U.S. Federal Reserve Chair Jerome Powell's speech on the central bank's rate trajectory. The blue-chip Nifty 50 (.NSEI) index was up 0.15% at 18,853.40 as of 9:15 a.m. IST, while the benchmark S&P BSE Sensex (.BSESN) rose 0.12% to 63,460.50. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Varun H K and Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Jerome Powell's, Bharath Rajeswaran, Varun Organizations: . Federal, BSE, Thomson Locations: BENGALURU, Bengaluru

☆ Rupee hits one-month high on likely corporate dollar inflows
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: 1 min

MUMBAI, June 14 (Reuters) - Indian rupee hit a one-month high against the U.S. currency on Wednesday led by likely corporate dollar inflows, five traders said. The rupee hit the day's high of 82.1250 to the dollar, its highest since May 12, and was up 0.3% at 1:55 p.m. IST. "A large foreign bank is on dollar sales, most likely on behalf of a leading telecom company," a trader with a state-run bank said. "Once the rupee rose above 82.24, dollar long stop losses were hit." Reporting by Siddhi Nayak; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Siddhi Nayak, Eileen Soreng Organizations: Siddhi, Thomson Locations: MUMBAI

☆ India puts coastal states on alert amid warning of strengthening cyclonic storm
▼ + stars: | 2023-06-10 | by ( Sumit Khanna And Manoj Kumar | ) www.reuters.com time to read: +1 min

AHMEDABAD,India/NEW DELHI June 10 (Reuters) - India's western states of Gujarat, Maharashtra, Goa and other coastal regions are on alert after meteorologists warned that a cyclonic storm over the Arabian sea would intensify over the next 24 hours. It warned of heavy rainfall at isolated places in the state of Kerala and coastal Karnataka region in next three days. In Gujarat, the 13 coastal districts of South Gujarat, Saurashtra peninsula and Kutch have been put on alert. "We are fully prepared to deal with any situation," Kamal Dayani, additional chief secretary in the state revenue department, told Reuters. Teams from the National Disaster Response Force and State Disaster Response Force have been deployed in the districts likely to be affected by the storm.

Persons: Biparjoy, Kamal Dayani, Manoj Kumar, Mike Harrison Organizations: Authorities, Cyclone, Indian Meteorological Department, IMD, Reuters, Force, Thomson Locations: AHMEDABAD, India, DELHI, Gujarat, Maharashtra, Goa, Kutch, Mumbai, Kerala, Karnataka, South Gujarat, Saurashtra

☆ Indian shares open higher ahead of RBI rate decision
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, June 7 (Reuters) - Indian shares opened higher on Wednesday, tracking global peers, ahead of the Reserve Bank of India's monetary policy decision and on hopes of an interest rate pause by other major central banks. The blue-chip Nifty 50 (.NSEI) index was up 0.36% at 18,665.60 as of 9:15 a.m. IST, while the benchmark S&P BSE Sensex (.BSESN) rose 0.20% to 62,917.39. ($1 = 82.5316 Indian Rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Bharath Rajeswaran, Sonia Cheema Organizations: Reserve Bank, BSE, Thomson Locations: BENGALURU, Bengaluru

☆ Indian shares open flat on rising odds of Fed, RBI rate pause
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, June 6 (Reuters) - Indian shares were little changed at the open on Tuesday, after logging gains in the previous two sessions, amid rising hopes of a rate hike pause by the U.S. Federal Reserve at its policy meeting next week. The blue-chip Nifty 50 (.NSEI) index was up 0.04% at 18,600.80 as of 9:15 a.m. IST, while the benchmark S&P BSE Sensex (.BSESN) fell 0.08% to 62,738.35. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

Persons: Bharath Rajeswaran, Janane Organizations: U.S . Federal, BSE, Thomson Locations: BENGALURU, Bengaluru

☆ Indian shares open flat as US debt deal spurs optimism
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, May 30 (Reuters) - Indian shares opened little changed on Tuesday after rising to a five-month high on Monday amid improved global cues after U.S. lawmakers reached a tentative debt ceiling deal over the weekend. The blue-chip Nifty 50 (.NSEI) index was up 0.06% at 18,609.35 as of 9:18 a.m. IST, while the benchmark S&P BSE Sensex (.BSESN) gained 0.02% to 62,861.10. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia Cheema and Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

☆ Elon Musk claims he's the reason ChatGPT-owner OpenAI exists
▼ + stars: | 2023-05-16 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

"I came up with the name," Musk told CNBC's David Faber. Musk has previously repeatedly asserted that Microsoft controls OpenAI and that OpenAI's capped-profit model is questionable. Despite signing the letter, Musk still incorporated a rival AI firm, X.AI, in April. But Musk added that signing the letter warning of the dangers of AI was something he wanted to do "for the record." Page was "quite cavalier" about AI, Musk claimed.

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