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SpaceX is witnessing immense investor interest, with demand reaching approximately $89 billion for its inaugural US bond sale. The company, led by Elon Musk, aims to raise between $20 billion and $25 billion to refinance a loan and cover corporate costs. This significant demand highlights investor confidence in Musk's vision, even as SpaceX anticipates substantial cash expenditure in the coming years.
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Axis Bank successfully raised $800 million through a dual tranche dollar bond, tapping into the Reserve Bank of India's concessional swap facility. The bank secured $500 million via an Additional Tier 1 perpetual issue and $300 million from a five-year senior bond. Both issuances attracted significant investor interest, closing within initial price guidance and highlighting the bank's strong position in international markets.
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Twin Star Holdings, a promoter entity of Vedanta, sold 6.51 crore shares worth nearly Rs 1,896 crore through a block deal on Tuesday. The transaction comes amid Vedanta's ongoing restructuring efforts following the listing of its demerged businesses and continued focus on debt reduction and value unlocking.
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Sensex and Nifty plunged over 1% on Tuesday amid global market weakness, IT sector losses, a weaker rupee and fresh foreign fund outflows. Investors will track technical levels, global cues, FII activity and key stock movements on Wednesday as markets look for direction after the sharp decline.
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US chip stocks experienced a significant tumble, impacting the broader market and wiping out billions in value. While tech giants like Nvidia and Tesla saw declines, bargain hunters emerged, offering some support. This selloff, attributed to concentrated trading and shifting sentiment rather than AI fundamentals, highlights the volatility in the tech sector, especially for newly public companies like SpaceX.
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Wall Street witnessed a significant downturn in semiconductor stocks Tuesday, impacting major AI beneficiaries. Memory chipmakers like SanDisk and Micron saw substantial drops as investors re-evaluated high valuations amid escalating AI spending. This correction, also affecting broader tech, signals growing caution about the speed of returns from massive AI investments, prompting some to secure profits.
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