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Andhra Inc stocks lap up coalition dhan

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Business new tamfitronics HYDERABAD: Market indices may have closed B-Day in the red, but stocks of several Andhra Pradesh-based companies as well as those linked with AP chief minister Nara Chandrababu Naidu rallied on the bourses after a slew of sops were announced for the state.Heritage Foodsfor instance - a dairy products company promoted by Naidu's family - hit the 5% upper circuit on Tuesday before closing at Rs 575.The company's market capitalisation stands at Rs 5,333 crore, up 35% from Rs 3,957 crore on June 3 - the day before Lok Sabha results were announced. The paneer player's market fortunes have seen a sharp revival since June 4, when Naidu emerged as one of the two kingmakers, along with JD(U)'s Nitish Kumar, in the coalition govt led by PM Modi.Tirupati-based Amara Raja Energy &...
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News

Andhra Inc stocks lap up coalition dhan

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Business new tamfitronics HYDERABAD: Market indices may have closed B-Day in the red, but stocks of several Andhra Pradesh-based companies as well as those linked with AP chief minister Nara Chandrababu Naidu rallied on the bourses after a slew of sops were announced for the state.Heritage Foodsfor instance - a dairy products company promoted by Naidu's family - hit the 5% upper circuit on Tuesday before closing at Rs 575.The company's market capitalisation stands at Rs 5,333 crore, up 35% from Rs 3,957 crore on June 3 - the day before Lok Sabha results were announced. The paneer player's market fortunes have seen a sharp revival since June 4, when Naidu emerged as one of the two kingmakers, along with JD(U)'s Nitish Kumar, in the coalition govt led by PM Modi.Tirupati-based Amara Raja Energy &...
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Global chip stocks from Nvidia to ASML fall on geopolitics, Trump comments
17 Jul
Politics

Global chip stocks from Nvidia to ASML fall on geopolitics, Trump comments

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Politics tamfitronics Global chip stocks fell sharply, with ASML, Nvidia and TSMC posting declines amid reports of tighter export restrictions from the U.S. and a ramp-up of geopolitical tensions fueled by comments from former U.S. President Donald Trump.ASML's Netherlands-listed shares were down 11%, while Tokyo Electron shares in Japan closed nearly 7.5% lower. Arm, AMD, Marvell, Qualcomm and Broadcom were down more than 5% as of 11:50 a.m. ET.The moves came after Bloomberg on Wednesday reported that the Biden administration is considering a wide-sweeping rule to clamp down on companies exporting their critical chipmaking equipment to China.Washington's foreign direct product rule, or FDPR, allows the U.S. to put controls on foreign-made products even if they use the smallest amount of American technology. This can affect non-U.S. companies.CNBC has reached out...
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