NDTV Profit Pulse On March 18—Top 8 Stories At 8 P.M. Under 8 Minutes

Alphabet Acquires Wiz for $32 Billion

Boosting Google Cloud’s Security Offerings

Alphabet Inc., the parent company of Google, is set to acquire the cloud-computing firm Wiz Inc. for a striking $32 billion. This acquisition aims to enhance Google's security offerings within its cloud services. Wiz previously resisted a $23 billion offer last year, but the recent discussions led to this significant agreement. Joining Google Cloud will position Wiz to better compete with other industry giants like Microsoft and Amazon.

Indian Stock Markets Rally

On the Indian front, stock markets have rallied for the second consecutive day, attributed to easing fears of a US recession and a revitalized outlook for China. India's benchmark indices recorded their strongest performance in almost a month, signaling positivity amidst global uncertainties.

FMCG Demand Surges

With the early summer season underway, sales of fast-moving consumer goods (FMCG) such as ice cream and soft drinks are witnessing a notable rise, expected to grow by 25-30%. Leading brands like Amul are ramping up production in anticipation of increased consumer demand.

Bajaj Group's Path Cleared for IPO

The Bajaj Group is moving forward with its insurance ventures following Allianz SE’s divestment. With the exit of the German firm, Bajaj Finserv is now prepared to pursue initial public offerings, unlocking substantial value for investors.

Markets React to US Trends

U.S. markets experienced a decline, with the S&P 500 and Nasdaq Composite both showing negative trends. In contrast, Indian markets thrived, buoyed by global advancements and improving local sentiments.

Shapoorji Pallonji Group Fundraising

In another development, the Shapoorji Pallonji Group is aiming to raise up to $3.3 billion through private credit funds, signaling a significant step in their growth strategy.

ONGC Green Focuses on Renewable Energy

ONGC's green energy arm is gearing up for expansion, aligning with its goal of achieving 10 gigawatts of capacity by 2030. Upcoming tenders for solar energy illustrate their commitment to enhancing renewable energy sources.

PVR Inox Anticipates Success

With successful film releases on the horizon, PVR Inox is optimistic about returning to pre-COVID-19 attendance levels, banking on star-driven content to attract moviegoers.

Additional Highlights

Other noteworthy stories include Ola Electric making a recovery in its stock price, potential changes in UPI transaction regulations by NPCI, and a significant financial judgment against Starbucks in the U.S.

Acquisition, Markets, FMCG, Finance, Investments, Stocks, Energy, Entertainment