Kotak Mahindra Bank Shares Drop 7% on Asset Quality Concerns
The Mumbai-based bank, backed by billionaire Uday Kotak, reported a nearly halving of its net income for the quarter ended June 30, citing stress, especially in loan portfolios, along with a compression in margins. The 7% decline in the stock made it the worst performer on the Nifty 50 Index, which shed as much as 0.4%.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
Alibaba Unveils AI Glasses to Rival Meta's
Alibaba Group Holdings (BABA) unveiled its first AI-powered smart glasses Monday, as the Chinese tech giant launches a wearable with features rivaling those of Meta Platforms' (META) offering with Ray-Ban. Alibaba's U.S.-listed shares, which entered Monday up more than 40% this year, are rising 1.5% in premarket trading. The Quark AI Glasses, the Chinese company's first, will be powered by Alibaba's large language model Qwen and are scheduled for official release in China by the end of the year. Alibaba's eyeglasses will be competing with those recently launched by Chinese smartphone maker Xiaomi. "Lightweight and ergonomically designed, Quark AI Glasses support hands-free calling, music streaming, real-time language translation, and meeting transcription—making them ideal for professionals, travelers, and tech-savvy users,' Alibaba said. Wearable technology such as eyeglasses or smartwatches are increasingly viewed as the next stage in AI gadgets after smartphones. Not all wearable devices have been hits, however: Google Glass was pulled by parent Alphabet (GOOGL) from the market after two failed launches since 2014. Read the original article on Investopedia Sign in to access your portfolio
Washington Post
22 minutes ago
- Washington Post
Celebrity Buddhist monk accused of embezzlement and adultery
Buddhist authorities in China stripped a celebrity Shaolin monk of his office amid a swirl of allegations over the weekend, including a criminal investigation into embezzlement and accusations that he fathered illegitimate children, the country's Buddhist Association said. Shi Yongxin, the top-ranking monk at China's 1,500-year-old Shaolin Temple, helped build the ancient institution into a sprawling global brand centered on its roots as a birthplace of kung fu. In the process, Shi Yongxin also established himself as one of China's best known religious figures — with his lofty commercial ambitions garnering him the nickname the 'CEO monk.'
Bloomberg
22 minutes ago
- Bloomberg
Microsoft Suspends Services to Rosneft-Backed India Refiner
Microsoft Corp. has stopped providing services to Rosneft -backed Nayara Energy, the Indian oil refiner said in a statement, adding to challenges facing the company, which was recently hit with European Union sanctions. The Mumbai-based firm filed a lawsuit in the High Court of Delhi against Microsoft for 'abrupt and unilateral suspension of critical services,' according to the statement.
