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Tamilnad Mercantile Bank to Open New Branch in Kerala, India

Tamilnad Mercantile Bank (NSE:TMB, BOM:543596) will open a new branch at Tirur in the Malapuram District of Kerala, India, on Thursday, according to a Wednesday filing to the Indian stock exchanges.The lender has scheduled the operational opening of the new location for Thursday, May 21.

BOM:543596NSE:TMB

International52d ago

UK's Annual Producer Input, Output Prices Jump in April

Producer input prices in the UK increased 7.7% year over year in April, following a revised 5.3% gain in March, data from the Office for National Statistics showed Wednesday.The consensus estimate for the month was a 5.9% growth.Meanwhile, producer output or factory gate prices climbed 4% annually, against the revised 3% rise earlier and the expected 2.8% jump.On a monthly basis, producer input prices grew 2.4% in April, compared with the revised 4.3% increase previously and the forecast of a 1% rise. Monthly factory gate prices edged up 1.4%, consistent with a revised 1.4% rise earlier, and above the projected 1% growth.

FTSE 100

Research52d ago

Research Alert: CFRA Maintains Hold Opinion On Shares Of Cava Group Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month target by $15 to $90, based on an equal-weighted blended valuation (50x 2027 EV/EBITDA; 6x EV/sales). We cut 2026 EPS to $0.66 from $0.80 and 2027's to $0.85 from $1.19, due to flat EBITDA margin assumptions versus prior expansion expectations. We maintain our Hold following Q1 results that included a beat-and-raise, highlighted by 9.7% comp growth (vs. 6.1% consensus). Our revised estimates embed comps near the top of CAVA's raised 4.5%-6.5% 2026 outlook. However, restaurant-level margin guidance was raised only 10 bps despite strong traffic, suggesting energy and food cost inflation are limiting profit flow-through. The company remains debt-free with strong cash generation, and 2025 openings are tracking above AUV targets, underscoring the long-term growth story. While our premium multiples reflect CAVA's superior unit economics and runway, current margin headwinds and elevated expectations limit near-term upside.

$CAVA

Asia52d ago

Feytech's Profit Soars 129% in Q1; Shares Rally 7%

Feytech (KLSE:FEYTECH) posted a 129% annual surge in profit before tax to 6.1 million ringgit for the first quarter, according to a Tuesday Malaysian bourse filing.Shares jumped about 7% in Wednesday's afternoon trade.The growth was supported by stronger revenue growth and improved margins, the automotive cover and seat manufacturer said.The group's revenue rose 32% to 38.9 million ringgit, driven mainly by its automotive seat segment, which expanded 68.9%. Gross profit margin improved to 27.2% from 20.% a year earlier.During the quarter, Feytech secured a new seat cover supply contract with Proton (KLSE:PROTON) for an upcoming model. The 84-month deal is expected to generate about 96.8 million ringgit in revenue.

KLSE:FEYTECHKLSE:PROTON

Asia52d ago

Chinese State-Backed Entities to Dispose of Stake in Tianjin Pharmaceutical Da Ren Tang Unit via Public Tender

Tianjing Pharmaceutical Da Ren Tang Group's (SGX:T14) controlling shareholder, Tianjin Pharmaceutical, revealed that state-backed Chinese holding firms, SIIC Holdings and SIIC Investment Development, will sell their entire 100% stake in Shanghai Liuliguang Medical Development.Shares of the pharmaceutical company were down under 1% in Wednesday trading.The disposal will be carried out via a public tender on the Shanghai United Assets and Equity Exchange (SUAEE), according to a Tuesday filing with the Singapore Exchange.Presently, Liuliguang Medical controls a 35% equity position in Jinhushen Biological Medical Science and Technology. Jinhushen, in return, holds a dominant 67% stake in the group's direct parent company, Tianjin Pharmaceutical Holdings, which retains an absolute 43.008% stake in Da Ren Tang itself.

SGX:T14

Asia52d ago

TrickelStar Secures In-Principle Approval for Listing, Quotation of 79 Million Shares

TrickleStar (SGX:CYW) was granted in-principle approval by the SGX-ST for the listing and quotation of 79.1 million shares, according to a Tuesday bourse filing.Shares of the smart energy solutions company were down over 2% in Wednesday trading.Earlier, the company had signed a placement agreement with PrimePartners Corporate Finance to raise SG$2.4 million through the placement of around 79.1 million shares at SG$0.0306 per share.

SGX:CYW

Equities52d ago

Vallourec Receives Line Pipe Orders from ExxonMobil Guyana

French tubular products manufacturer Vallourec (VK.PA) won two new line pipe orders from ExxonMobil Guyana.The orders comprise a combined supply of more than 145 kilometers of coated line pipe for ExxonMobil Guyana's deepwater Hammerhead and Longtail projects, according to a Wednesday release. The orders were placed under a long-term deal signed in 2021.

$VK.PA

Asia52d ago

Market Chatter: Ganfeng Lithium Booked Through H1 2027

Ganfeng Lithium (SHE:002460, HKG:1772) secured orders extending to the first half of 2027, driven by soaring demand for energy storage systems and artificial intelligence data centers, The South China Morning Post reported Wednesday.President Wang Xiaoshen said the company's full-year capacity is sold out, even with plans to boost output by 50% next year, according to the report. Both domestic and overseas markets are fueling the backlog, Wang added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:1772SHE:002460

International52d ago

New Zealand's Housing Market Softening Amid Deterioration in Wider Economic Backdrop, ANZ Says

New Zealand's housing market is softening, in line with the deterioration in the wider economic backdrop since the sharp rise in fuel prices, ANZ said in a report on Wednesday.House prices fell in April across regions, while sales volumes also declined. Though the slowdown remains modest to date, the wider suite of indicators points to only slightly falling prices.House prices in New Zealand have increased at an average pace of 6% per year since 1992. Higher fuel costs, rising interest rates, and elevated uncertainty are all set to keep the housing market subdued this year. The prices might increase more slowly in the coming decades than they have in the past, potentially at an average pace of around 4% per year.The earlier high rate of house price growth was driven primarily by a long-running downward trend in interest rates, decent per capita income growth, and slow growth in housing supply. An average rate of 4% increase per year has been more typical internationally, and would broadly match income growth.Sustained increases in wholesale interest rates could put upward pressure on mortgage rates.

^NZ50

Asia52d ago

China Seeks Extension of Trade Truce with US

China is seeking to extend its trade truce with the U.S., first reached in Kuala Lumpur, the Commerce Ministry said in a statement Wednesday.The ministry said Beijing would accept U.S. tariffs on China provided they do not exceed the levels set during the discussions in Malaysia.The negotiations brought the U.S.' effective tariffs on China to 30% but were slashed to about 21% after the U.S. Supreme Court ruled against some levies, Bloomberg News reported separately.Beijing also expressed its hope for the U.S. to "further eliminate relevant unilateral tariffs on China," according to the statement.

Shanghai Composite^SZSE

Asia52d ago

Hong Fok Buys Back More Shares

Hong Fok (SGX:H30) bought back 185,400 shares in the open market on Tuesday for around SG$184,166, according to a same-day after-market filing with the Singapore Exchange.Shares of the company were down nearly 3% in Wednesday trading.To date, the property investment company has bought back 2.2 million shares under the current buyback program.

SGX:H30

Equities52d ago

Pennpetro Says UK High Court Dismisses Shareholder Claims

Pennpetro Energy (PPP.L) said Tuesday that the UK's High Court dismissed all claims brought by shareholder Jesse Edwin White against the company.White had filed a claim seeking rectification of the shareholder register after the company failed to register 6 million shares he purchased in November 2023. He also sought interim relief to prevent the oil and gas company from holding its May 6, 2026, annual general meeting.The court dismissed both the rectification claim and the injunction application, the company said.

$PPP.L

Asia52d ago

Genting Singapore Buys Back SG$1.3 Million Worth of Shares

Genting Singapore (SGX:G13) bought back about 2.3 million shares in the open market on Tuesday for SG$1.3 million, according to a same-day filing with the Singapore Exchange.Shares of the company were down nearly 1% in Wednesday trading.To date, the leisure, hospitality and integrated resorts development specialist has bought back nearly 9 million shares under its existing mandate.

SGX:G13

Asia52d ago

China Confirms Orders for 200 Boeing Jets

China's Commerce Ministry confirmed the country will order 200 jets from U.S. aircraft manufacturer Boeing, it said Wednesday.The U.S. will also supply China with adequate engine and spare parts supplies, the ministry said.This is China's first confirmation of the order, Reuters reported separately.

Shanghai Composite^SZSE

Asia52d ago

US Investors Considering Participation in Russia-China Joint Projects, Sovereign Wealth Chief Says

U.S. investors expressed interest in taking part in joint projects between Russia and China, Russian state-owned news agency TASS reported Wednesday, citing Russian Direct Investment Fund Chief Kirill Dmitriev.Moscow sees more interest coming from the energy sector, the state-owned news agency reported, citing the chief of the Russian sovereign fund."Within the framework of the Russian Direct Investment Fund we are also looking at ⁠certain projects, including those involving both China and the U.S." Reuters quoted Dmitriev as saying to the press.

Shanghai Composite^SZSE

Asia52d ago

New Zealand Shares Fall; Infratil Agrees to Cut Stake in Contact Energy in Over NZ$495 Million Block Trade

New Zealand shares ended lower on Wednesday amid broad-based losses in Asian shares as inflation fears drove bond yields higher.The S&P/NZX 50 Index fell 1.64% or 213.29 points to close at 12,761.03.The 10-year US Treasury rose to 4.663%, while the 30-year yield climbed to 5.182%.In domestic news, a total of 12,972 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) auction held on Tuesday, with supply ranging from 12,245 MT to 16,233 MT, according to data from the trading platform.Further, New Zealand's housing market continued losing momentum in April, with sales volumes down 9% year on year and activity across the first four months of the year around 5% below the same period last year, Cotality NZ said in a report.Also, the mean one-year-ahead expected inflation in New Zealand was 5.6% in the June quarter, up from 5.2% in the previous quarter, while the perception of current inflation came in at 7.5%, according to a survey by the Reserve Bank of New ZealandMeanwhile, the Reserve Bank of New Zealand is expected to make no change to the official cash rate on May 27, leaving it steady at 2.25%, with a 50/50 chance of a rate hike in July, ANZ said in a note.In corporate news, Infratil (ASX:IFT, NZE:IFT) agreed to sell 53.5 million shares in Contact Energy (ASX:CEN, NZE:CEN), representing 5% of the utility's issued share capital, via a fully underwritten block trade priced at NZ$9.25 per share, with the deal expected to raise about NZ$495.2 million.Vista Group International (ASX:VGL, NZE:VGL) has secured a six-year agreement with Cinepolis to transition its Mexican circuit to the Vista Cloud operational excellence platform.

^NZ50ASX:CENASX:IFTASX:VGLNZE:CENNZE:IFTNZE:VGL

Asia52d ago

Qoria Says Morgan Stanley Ceases to Be a Substantial Holder

Qoria (ASX:QOR) said Morgan Stanley and its subsidiaries ceased to be substantial holders of the firm on May 15, according to a Wednesday Australian bourse filing.Its shares rose 2% in recent trading on Wednesday.

ASX:QOR

Asia52d ago

Market Chatter: US Lawmaker Warns Against AI Sales to China

U.S. House Foreign Affairs Committee Chair Brian Mast warned that expanded artificial intelligence trade with China could undermine U.S. national interests, The South China Morning Post reported Wednesday.He said commercial gains for American firms may ultimately weaken the U.S.' global edge, according to the report.Mast compared AI technology to advanced fighter jets that the U.S. refuses to sell to rivals such as China, Russia, Iran and North Korea, saying America must stay technologically ahead, the SCMP wrote.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSE

Asia52d ago

TSH Resources Attributable Profit Slides 56% in Q1; Shares Slump 7%

TSH Resources (SGX:TSH, KLSE:TSH) shares slid over 7% on Wednesday after the palm oil company reported a 56% decline in its attributable profit to owners of 21.3 million ringgit from 48.2 million ringgit a year earlier.Basic earnings per share came in at 0.0169 ringgit compared with 0.0356 ringgit in the year-ago period, according to a Tuesday filing with the Singapore Exchange.The dual-listed company's revenue fell 25% year over year to 205.2 million ringgit from 275.3 million ringgit, mainly due to a decrease in revenue from the palm products segment.

KLSE:TSHSGX:TSH

Asia52d ago

Mahindra & Mahindra Names Chief Brand Officer

Indian automobile-to-farm equipment conglomerate Mahindra & Mahindra (NSE:M&M, BOM:500520) has appointed Purnima Lamba as the chief brand officer of the company with effect from Sept. 1, according to a Wednesday filing to the Indian stock exchanges.Lamba joins the company after a 25-year career at Unilever, where she held senior leadership roles across India, the UK, and the Netherlands.

BOM:500520NSE:M&M

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