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BusinessPhoto: ET Markets

Broadcom CEO Warns AI Investing Is Like Gambling, Sparks Selloff

Broadcom CEO Hock Tan warned that investors are treating artificial intelligence like gambling, causing a sharp global selloff in AI stocks. He expressed concerns about excessive valuations and unsustainable spending, questioning OpenAI's long-term profitability despite strong revenue growth. South Korea's Kospi and Japan's Nikkei indices fell, while Indian IT stocks rose amid the tech selloff.

ET Markets·

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BusinessPhoto: Business Standard

Prestige Estates Q2 Sales Rise 20% to ₹7,225 Crore on Housing Demand

Prestige Estates Projects Ltd reported a 20% increase in sales bookings to ₹7,225 crore for Q2 FY27, driven by strong housing demand. The company sold 3,910 units covering 5.84 million sq ft. For H1 FY27, pre-sales reached ₹13,804.3 crore with 7,247 units sold. Chairman Irfan Razack highlighted strong demand and good sales traction for new launches and ongoing projects.

Business Standard··Bengaluru

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BusinessPhoto: Business Standard

Piramal Pharma Reduces Dependence on Chinese Raw Materials

Piramal Pharma is among global drugmakers reducing reliance on China for pharmaceutical ingredients and manufacturing. This move aims to lower supply risks amid rising geopolitical tensions. The company is adjusting its sourcing strategy to ensure more stable and secure supply chains in the pharmaceutical sector.

Business Standard·

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BusinessPhoto: Mint Markets

Park Medi World Shares Fall 15% in a Month Amid Drug Price Cap Hearing

Park Medi World shares dropped about 15% in the last month, including a 7% fall today, closing at ₹236 per share on the NSE. The decline is linked to selling pressure from the Supreme Court's drug price cap hearing. Experts highlight strong fundamentals and expansion plans, with support at ₹200-₹210 and resistance at ₹260. A breakout could push shares to ₹300 soon.

Mint Markets·

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PoliticsPhoto: Deccan Herald

MP-MLA Court to Deliver Verdict on Rahul Gandhi Defamation Case on October 26

The MP-MLA court in Sultanpur, Uttar Pradesh, has scheduled October 26 to pronounce the verdict in the defamation case against Rahul Gandhi. The case concerns his alleged objectionable remarks against then BJP president Amit Shah in 2018 during a Bengaluru election campaign. Rahul Gandhi, MP from Raebareli, must appear in court on the verdict day. The complaint was filed by BJP leader Vijay Mishra in August 2018.

Deccan Herald··Sultanpur

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BusinessPhoto: Economic Times

NSC vs 5-Year FD: Maturity Comparison on Rs 2.5 Lakh

Senior citizens seeking steady income should compare National Savings Certificates (NSC) with bank fixed deposits (FDs). Investing Rs 2.5 lakh in NSC generally results in a higher maturity amount than many 5-year bank FDs, making NSC a more favorable option for long-term savings.

Economic Times·

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