Ellenbarrie Industrial Gases has announced the price range for its forthcoming initial public offering (IPO), fixing the band between ₹380 and ₹400 per equity share, each having a face value of ₹2. The issue structure includes an initial lot size of 37 equity shares, with an additional 37 shares allocated upon application confirmation. This structure is designed to accommodate a wider base of retail and institutional participation while optimizing share distribution mechanics under current regulatory norms.
Apple Inc. $AAPL is holding early-stage internal talks over a possible acquisition of Perplexity AI, a rapidly scaling startup in the generative AI space. The discussions, involving top executives including M&A lead Adrian Perica and Services chief Eddy Cue, reflect growing urgency inside Apple to reinforce its AI capabilities. The potential deal, though not yet formalized, would mark Apple’s largest AI-related move and one of its most significant acquisitions to date.
Despite intensifying hostilities between Israel and Iran, the Tel Aviv Stock Exchange (TASE) reached fresh 52-week highs on June 19, demonstrating strong investor confidence in the face of geopolitical risk. The TA-All Share Index rose 0.5% to 2,574.89, even as regional media reported fresh Iranian missile strikes on Israeli infrastructure. According to Al Jazeera, the latest attack involved 25 missiles, some allegedly damaging the stock exchange building in Tel Aviv. However, no trading disruptions were confirmed, and the market continued its upward momentum.
U.S.-based pharmaceutical major Eli Lilly and Co. $LLY has entered into a definitive agreement to acquire Verve Therapeutics Inc. $VERV, a clinical-stage biotech innovator focused on gene-editing therapies aimed at reducing low-density lipoprotein cholesterol (LDL-C), often labeled as “bad” cholesterol. The deal, valued at up to $1.3 billion, will see $1 billion paid upfront, with an additional $300 million contingent on clinical milestones. The acquisition underscores Eli Lilly’s intent to broaden its presence in the fast-growing cardiometabolic therapeutics sector, complementing its existing pipeline in diabetes, obesity, and cardiovascular health.
The reintroduction of the Credit Card Competition Act in Congress reignited regulatory concerns for the U.S. payments sector. Designed to break the duopoly of Visa $V and Mastercard $MA, the legislation would require large banks to offer merchants access to at least two unaffiliated networks for processing electronic credit transactions. The goal is to reduce interchange fees that burden retailers and, indirectly, consumers.
Tata Motors Ltd. $TATAMOTORS.NS faces constrained upside despite a projected 5% increase from current levels, as highlighted in HSBC’s latest equity note. With a revised price target of ₹770 against a market price of ₹714.90, the brokerage reiterates a “Hold” rating, citing structural and operational vulnerabilities that threaten future profitability.
Goldman Sachs Asset Management $GS has strategically invested $600 million in Jubilant Bhartia Group to aid the acquisition of a 40% share in Coca-Cola Co.'s $KO Indian bottling division. This financial maneuver highlights the power of innovative funding solutions in modern corporate expansion.
OnePlus USA has announced ambitious plans to challenge industry giants Samsung Electronics Co $005930.KS and Apple Inc $AAPL with the introduction of its new OnePlus Pad 3. Scheduled for release on July 8, this premium Android tablet is priced at $700 in the U.S. and $1000 in Canada, positioned to attract consumers seeking an alternative with powerful specifications and competitive pricing.
Novo Banco SA, a central figure in Portugal’s banking landscape, is on the cusp of a transformative step toward public equity markets. The forthcoming shareholder assembly, scheduled for June 4, will address essential preparations for a potential initial public offering (IPO), with a focus on granting access to the stock exchange and implementing governance changes. While the final decision on proceeding with the offering remains pending, this meeting plays a foundational role in aligning the lender for a market debut.
Late-month stock market fluctuations underscored how quickly investor sentiment shifts on geopolitical developments. A public statement from former US President Donald Trump, blaming China for allegedly breaching trade agreements and signaling a potential meeting with Chinese leader Xi Jinping, catalyzed sharp intraday swings. Initially, the S&P 500 index $^SPX dropped as much as 1.2%, before moderating losses and closing flat.
During May, the Tadawul All Share Index $^TASI.SR (TASI) recorded a sharp decline of 6.4%, outpacing the losses of all 92 global stock indices. The downturn extends TASI’s losing run into a fourth consecutive month, establishing its lengthiest drop since 2014. This sustained underperformance signifies a pivotal moment for the Saudi equity market, reflecting mounting pressures and heightened volatility.
Japanese equities advanced for the second consecutive session, buoyed by investor confidence in an evolving external trade landscape. The Topix index strengthened by 0.6% to reach 2,751.91, and the Nikkei 225 $^N225 gained 1% to close at 37,531.53 in Tokyo. Substantial contributions came from leading exporters, including Sony Group Corp. $SONY, Hitachi Ltd. $6501.T, and Tokyo Electron Ltd. $8035.T, as participants reassessed trade concerns following new policy signals from Washington.
