CNBC-TV18 Morning Call: Nvidia ‘disappoints,’ blocks $1 billion in deals and more

Federal Reserve Bank of Atlanta President Raphael Bostic said it “may be time” to cut rates, but he is still looking for additional data to support lowering interest rates next month. More on this here.

OpenAI is inching closer to raising funding at a valuation of more than $100 billion in a round led by Thrive Capital, people with knowledge of the matter told Bloomberg. Thrive will invest about $1 billion in the round, said one of the people, who asked to remain anonymous because the fundraising has not been made public. OpenAI Chief Financial Officer Sarah Friar told employees in a memo Wednesday that the company is seeking fresh capital, without giving details, according to people familiar with the matter.

Pavel Durov, the chief executive of Telegram, has been charged in France with complicity in the dissemination of sexual images of children and other crimes such as drug trafficking on the messaging app. The 39-year-old was arrested at Le Bourget airport north of Paris on Saturday after disembarking from a private jet and taken into police custody for questioning for four days. Prosecutors on Wednesday ordered Durov to post bail of 5 million euros ($5.6 million) and banned him from leaving France, the statement said.

After days of consolidation and resistance, the Nifty conquered its previous all-time high of 25,078 a day before the expiry of its August F&O and hit a fresh high of 25,129. As has been the case with the previous highs, there was a minor profit-taking at higher levels and that resulted in the Nifty suffering a 90-point drop from the day’s highs, ending even below its previous all-time high of 25,078.

The Union Cabinet has approved the creation of 12 new industrial areas across India, a move designed to boost domestic manufacturing and attract foreign direct investment (FDI). The initiative, backed by an investment of ₹28,602 crore, It is projected to generate approximately 10 lakh direct jobs and up to 30 lakh indirect jobs, contributing significantly to the economic growth of the country.

On Wednesday, August 28, the Competition Commission of India (CCI) approved the merger between Reliance Industries Ltd (RIL) and Disney India. The merger involves RIL, Viacom18 Media, Digital18 Media, Star India and Star Television and paves the way for the formation of a new joint venture. Reliance Industries will also be in the spotlight today ahead of its Annual General Meeting, where CMD Mukesh Ambani will begin his address at 2:00 pm IST.

In an exclusive conversation with CNBC-TV18, CS Setty, Chairman, State Bank of India (SBI), provided insights on the current banking environment, addressing the challenges of deposit competition, the evolving regulatory landscape and SBI’s strategic focus areas. Setty acknowledged that there is an intense Competition among banks for deposits is healthy competition, but he welcomed it as such. He noted that while deposit growth was robust during the COVID-19 period, current growth rates were unfairly compared to those exceptional times.

Today is another day that belongs to block deals. At least worth $1 billion that is known and more that can happen during the course of the day. IndiGo is one of them, where co-founder Rakesh Gangwal can sell stakes worth up to $850 million in block deals. The indicative price seen is ₹4,593 per share, which is a 5.5% discount to Wednesday’s closing price. There will be a 150-day lock-up period for the next tranche of sale. Not just IndiGo, block deals are also likely to be seen in PB Fintech and Welspun Living.

The Securities and Exchange Board of India (SEBI) has issued an advisory to investors regarding their investments in small and medium enterprises (SMEs) listed on the stock exchanges. SEBI’s concern arises from certain practices observed among some SMEs. companies that may mislead investors.

In a revealing conversation with CNBC TV18, Samir Modi clarified that he was willing to do “whatever it takes” to end the family feud, including selling the business. together, as initially proposed by Lalit Modi. Samir Modi was responding to a question on whether he agreed with Lalit Modi’s proposal to sell the business and distribute the proceeds among family members.