OpenAI has inked a massive $38 billion deal with Amazon to power its AI on AWS, securing access to a vast number of Nvidia chips. This strategic move follows OpenAI’s revised cloud arrangement with Microsoft. The partnership aims to meet the soaring demand for computing power, with full deployment expected by late 2026.
Kimberly-Clark is acquiring Tylenol maker Kenvue for approximately $48.7 billion in a cash-and-stock deal, creating a major consumer health goods company. The combined entity is projected to generate $32 billion in annual net revenues and achieve $1.9 billion in cost savings. Kimberly-Clark’s CEO Mike Hsu will lead the merged company, which will retain its Texas…
Vodafone Idea shares rallied significantly after the Supreme Court clarified its stance on Adjusted Gross Revenue (AGR) dues. The apex court empowered the government to decide on both additional and total outstanding liabilities, easing investor worries. This development allows for a broader review of the company’s massive debt, potentially aiding its financial stability and reducing…
UPI transactions reached an all-time high of Rs 27.28 lakh crore in October, with 20.7 billion transactions, driven by festive shopping. This surge highlights India’s robust digital infrastructure and its growing dominance in global real-time payments, now powering 85% of domestic digital transactions.
Gold prices stabilized near $4,000 an ounce after China’s tax rebate changes for retailers and jewelers initially caused a dip. The new rules limit VAT deductions, impacting jewelry stocks significantly. Despite this, strong investor appetite and core rally factors suggest continued bullish sentiment for the metal.
Indian stock markets are in a stronger position than last year, with earnings showing signs of bottoming out and expected to accelerate. Motilal Oswal Financial Services reports that Q2 FY26 earnings largely met expectations, with valuations appearing reasonable. Government reforms and policy optimism are supporting the improved market outlook.
India’s manufacturing sector showed robust expansion in October, with the HSBC India Manufacturing PMI rising to 59.2, driven by strong domestic demand and increased technology investments. While export orders slowed, overall factory activity improved, supported by higher output and purchasing. Manufacturers anticipate continued production growth, fueled by optimism regarding demand resilience and GST benefits.
US Treasury Secretary Scott Bessent criticizes China’s rare earth export controls, stating the US and allies are rapidly building independent supply chains. He accuses past US administrations of inaction, emphasizing the current government’s “warp speed” efforts to counter Beijing’s leverage. Bessent believes the global backlash may deter future Chinese restrictions.
Gold futures saw an uptick, driven by safe-haven demand amid geopolitical tensions and potential US export restrictions on AI hardware to China. This rise follows a weak performance last week, with investor interest and strong ETF inflows bolstering the bullion market in the third quarter.
Stock market recommendations: Sudeep Shah of SBI Securities recommends Ashoka Buildcon and Sobha for the week starting November 3, 2025. Nifty consolidated after an October rally, showing indecision, while Bank Nifty also saw fatigue at record highs. Both indices remain in an uptrend.
