Ola Electric Mobility Ltd $OLAELEC.NS witnessed renewed selling pressure on Monday as its stock declined 6% to an all-time low of ₹43.20 on the Bombay Stock Exchange (BSE). The sharp drop followed a series of block deals involving 0.8% of the company’s equity, although the identities of the buyers and sellers remain undisclosed as of the latest filings.
Amazon.com Inc. $AMZN has mandated that thousands of corporate employees relocate to centralized offices in Seattle, Arlington, and Washington, D.C. The policy aligns with the company's broader push for on-site coordination following post-pandemic hybrid work phases. It arrives amid widespread tech-sector layoffs, adding to internal pressures and uncertainties across departments.
Marvell Technology $MRVL has been gaining increased attention from investors and analysts, with UBS $UBS reiterating its "Buy" rating and maintaining a target price of $100.00. This reaffirmation comes as the company continues to expand its customer base in consumer computing solutions.
Shares of Indraprastha Gas Ltd. $IGL.NS advanced by 3% on June 16, following reports that the Delhi government is likely to ease the timeline for phasing out conventional fuel vehicles under its electric mobility strategy. The potential policy revision, first reported by the Hindustan Times, has improved sentiment around IGL’s medium-term gas distribution outlook, particularly in the public transport and last-mile delivery segments. The reaction in IGL’s stock reflects a reassessment of downside risks previously priced in due to aggressive electrification mandates that threatened compressed natural gas (CNG) demand in key urban corridors.
The UK Financial Reporting Council (FRC) has fined KPMG LLP £1.25 million ($1.7 million) for breaching auditor independence rules during its audit of Carr’s Group PLC $CARR.L. The sanction also includes a £30,000 fine for lead audit partner Nick Plumb. The FRC concluded that KPMG failed to comply with ethical standards designed to protect the objectivity of audit work. The penalty follows an investigation into audits conducted before August 2021 and forms part of the regulator’s broader push for stricter compliance in the professional services sector.
Starbucks Corporation $SBUX has initiated a targeted price reduction across more than a dozen of its tea-based beverages in China, including Frappuccinos, iced teas, and lattes. The price cuts, averaging 5 yuan (USD 0.70), reflect a recalibration of the company’s product strategy on its second-largest global market, where consumer sentiment remains subdued and local competition continues to intensify.
Eli Lilly & Co. $LLY, a prominent name in the pharmaceutical industry, has witnessed a remarkable increase in sales for its weight-loss and diabetes medication, Mounjaro, within the Indian market. The month of May marked a significant 60% growth in comparison to April, reflecting the product's acceptance and burgeoning demand in the South Asian region. India ranks third globally in terms of obesity prevalence, positioning itself as a crucial market for Eli Lilly's innovative treatment.
Tesla Inc. $TSLA is encountering a significant headwind as deliveries from its Shanghai Gigafactory decline for the eighth consecutive month. Official data signal persistent softness, with 61,662 Model 3 and Model Y units shipped in May, 15% below the previous year’s comparable period, according to the China Passenger Car Association. This extends a troubling trend for the automaker, amplifying its worldwide sales challenge.
Eramet SA $ERA.PA experienced a sharp decline in its share price, tumbling as much as 5.7%, after Gabon announced a plan to halt exports of manganese ore starting in 2029. This policy change raises critical concerns for the Paris-listed miner, given that Gabon represents its primary source of profitability. Friday’s declaration signals a turning point for the global manganese market, particularly for companies reliant on Gabonese supply streams.
Elf Beauty Inc. $ELF has entered into a landmark agreement to acquire Rhode beauty, the fast-growing cosmetics brand spearheaded by Hailey Bieber. The transaction, valued at USD 1 billion, comprises an initial USD 800 million in cash and equity, with an additional USD 200 million pegged to Rhode’s performance over the next three years. This structure aligns incentives, rewarding future growth while minimizing upfront risk for ELF.
Apple Inc. $AAPL shares are amid their most protracted losing streak in over three years, reflecting mounting investor unease. The eight-session slide, the longest since January 2022, erased about 3% from AAPL’s market value by the end of last week, followed by a 1.7% uptick on Tuesday. Volatility underscores the growing uncertainty tied to both market sentiment and external political factors.
Caris Life Sciences Inc., established in 2008, has formally submitted its registration for an initial public offering (IPO) in the United States. This milestone positions the company — recognized for its AI-powered cancer diagnostics — at the intersection of innovation and public market capital, against the backdrop of increased investor interest in healthcare technology.
