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Manappuram Finance, IIFL Finance, other stocks rally up to 11% as gold prices soar after import duty hike

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Manappuram Finance, IIFL Finance, other stocks rally up to 11% as gold prices soar after import duty hike
The shares of gold-financiers Manappuram Finance, Muthoot Finance and IIFL Finance rallied up to 11% on Wednesday as gold prices jumped following the government’s move to hike import duty on the precious metal to 15%.

The government introduced the import duty hike in order to stop the rupee’s free fall and moderate non-essential imports during a period of heightened global uncertainty linked to the Iran-US conflict, which continues to keep oil prices elevated above the $100 per barrel mark.

In the domestic market, MCX gold futures for June expiry jumped Rs 11,055 or more than 7% to Rs 1,64,497 per 10 grams today. The contracts with August and October expiries also surged more than 6% each.

The move came after Prime Minister Narendra Modi on Sunday urged citizens to reduce purchases of non-essential gold over the next one year. Speaking at Hyderabad’s Secunderabad, Modi said that the move could help reduce the pressure on foreign exchange reserves and imports.

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“India continues to remain the world’s second-largest consumer of gold after China, with demand primarily driven by the jewellery industry…Higher duties are expected to reduce precious metal imports, support the rupee, and help narrow the trade deficit,” said Sumit Singhania, Research Head at Bajaj Broking.

Why are gold financier stocks rallying today?

Manappuram Finance, Muthoot Finance and IIFL Finance provide loans with gold as collateral. Rising gold prices will increase the value of the pledged collateral. Since gold loans are sanctioned based on the per-gram valuation of gold, higher prices can allow borrowers to access a higher loan amount without pledging additional jewellery, which in turn boosts demand.
IIFL Finance shares rallied nearly 11% to trade at Rs 493.20 apiece on Wednesday, the highest level since the end of February. Notably, the company said it has adequate factual and legal grounds to substantiate its position and does not expect any material impact on its financials or operations after Mumbai’s IT authority sent a tax demand notice for nearly Rs 476 crore.
Muthoot Finance shares jumped over 4% while Manappuram Finance shares surged around 5% on Wednesday. “Gold financing firms, including Muthoot Finance and Manappuram Finance, are likely to benefit from higher collateral values of gold loans,” said Sumit Singhania from Bajaj Broking.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Dow Plunges Nearly 250 Points on Hot PPI Inflation Data as Rate Cut Hopes Fade in 2026

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FTSE 100 Surges 0.8% Today as Oil Eases and Markets

NEW YORK — The Dow Jones Industrial Average tumbled more than 240 points in morning trading Wednesday, May 13, 2026, as hotter-than-expected wholesale inflation data reignited fears of persistent price pressures and delayed Federal Reserve rate cuts, pressuring the blue-chip index below the 49,500 level.

By mid-morning, the Dow stood at approximately 49,518.21, down 242.35 points or 0.49%. The decline followed a modest gain the previous session and reflected broader market caution after the Producer Price Index (PPI) for April surged well above forecasts, echoing recent consumer price concerns.

The Labor Department reported wholesale prices jumped 1.4% in April, far exceeding the expected 0.5% rise. On a year-over-year basis, headline PPI climbed 6%, the largest increase since 2022 and well above estimates of 4.8%. Core PPI, which excludes volatile food and energy, also showed stubborn underlying pressures.

Energy costs once again drove much of the headline figure, with fuel prices remaining elevated amid ongoing Middle East tensions. Analysts noted the data reinforces signals from Tuesday’s hotter CPI report, where consumer inflation hit 3.8% annually — its highest reading since mid-2023.

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Investors dialed back expectations for near-term monetary easing. Fed funds futures now price in a lower probability of a rate cut at the June meeting, with the first meaningful reduction potentially pushed to September or later. Treasury yields climbed, with the 10-year note hovering near multi-month highs.

The Dow’s decline was broad-based but led by interest-rate-sensitive sectors. Financials, industrials and consumer staples faced selling pressure as higher-for-longer rates weigh on borrowing costs and economic activity. Tech-heavy counterparts showed relative resilience, with the Nasdaq composite holding up better in early action.

President Donald Trump’s ongoing summit in Beijing added another layer of uncertainty. While the high-stakes meetings with Chinese President Xi Jinping aim to ease trade tensions, any breakthroughs or setbacks could sway market sentiment later in the week. Trump has pressed China on supply chain issues and geopolitical matters tied to the Iran conflict.

Oil prices remained a focal point, with Brent crude trading above $100 per barrel despite slight pullbacks. Elevated energy costs continue feeding into broader inflation readings, complicating the Fed’s dual mandate of price stability and maximum employment.

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Market breadth was mixed. Decliners outnumbered advancers on the New York Stock Exchange, though volume remained moderate. The S&P 500 traded flat to slightly lower, while the Nasdaq showed modest gains on selective buying in technology and communication services.

Economists warned that persistent inflation could force the Fed to maintain restrictive policy longer than anticipated. “This is another warning sign that the disinflation process has stalled,” one strategist noted. Stronger-than-expected retail sales and wage growth data earlier in the week added to the narrative of a resilient but overheating economy.

Corporate earnings season continues to provide some offset. Several major Dow components reported solid results, but forward guidance tempered enthusiasm amid cost pressures. Companies with heavy exposure to commodities and transportation faced particular scrutiny.

The Dow’s year-to-date performance in 2026 has been solid but lagged the S&P 500 and Nasdaq, reflecting its value and cyclical tilt. The index has traded in a range between roughly 41,000 and 50,500, recently testing all-time highs before pulling back on inflation concerns.

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Technical analysts pointed to key support levels near 49,000-49,200. A break below could open the door to further downside toward the 200-day moving average. Resistance sits around the recent 50,000 psychological barrier and all-time highs.

Portfolio managers advised caution in the near term. “We’re in a data-dependent environment where each inflation print moves the needle,” one fund manager said. Defensive positioning, selective exposure to quality growth names and hedges against volatility remain common themes.

Broader global markets showed mixed signals. European indices traded modestly higher despite similar inflation worries, while Asian markets closed with gains on hopes for stimulus in China. U.S. futures reflected the domestic PPI reaction earlier in the session.

For individual investors, the session underscores the importance of diversification. Blue-chip Dow stocks offer relative stability and dividends in uncertain times, but they are not immune to macroeconomic swings. Those with longer horizons may view dips as buying opportunities in fundamentally strong companies.

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Looking ahead, traders eye upcoming retail sales revisions, housing data and any updates from the Trump-Xi summit. The Fed’s next policy decision remains months away, but commentary from officials could influence expectations. Earnings from major retailers and banks later in the week will provide further clues on consumer health.

The Dow’s drop today highlights the market’s sensitivity to inflation data in 2026. While the economy shows resilience, sticky prices and geopolitical risks create a challenging backdrop for sustained rallies. Investors will continue parsing every data point for signals on the Fed’s path forward.

As trading progresses, focus remains on whether the early losses hold or if bargain hunters step in. The blue-chip index’s performance this session serves as a reminder that even in a maturing bull market, external pressures can quickly shift momentum.

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Slideshow: Protein innovation continues to trend

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Slideshow: Protein innovation continues to trend

Formulations are driving innovation dairy and milk alternatives.

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Claude AI Down Today? App Faces Intermittent Glitches but No Major Outage on May 13

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Claude AI Down Today? App Faces Intermittent Glitches but No

SAN FRANCISCO — Anthropic’s Claude AI showed no widespread outage Wednesday, May 13, 2026, with official status pages and major monitoring services reporting all systems operational, though scattered user complaints of slow responses, elevated errors on specific models and login hiccups continued to surface amid surging demand for the popular chatbot.

Claude AI Down Today? App Faces Intermittent Glitches but No
Claude AI Down Today? App Faces Intermittent Glitches but No Major Outage on May 13

Anthropic’s official status page at status.claude.com indicated full operational status across core services including claude.ai, the API, Claude Code, Claude Console and Claude for Government as of mid-morning Pacific time. The page noted a resolved partial outage from May 12 involving elevated errors on Claude Sonnet 4.6 and Haiku 4.5, but no active incidents for today.

Downdetector, which aggregates user reports, showed minimal activity in the past 24 hours with no significant spike. Most recent complaints clustered around Claude Code and chat functionality, but overall reports remained low compared to previous major disruptions in March and April 2026.

The absence of a full-scale outage comes as a relief for millions of daily users who rely on Claude for coding, writing, research and creative tasks. Yet the “again” sentiment echoed across forums reflects Anthropic’s pattern of intermittent issues as the company scales rapidly to meet explosive demand following several high-profile model releases.

Claude has experienced multiple notable disruptions in 2026. On May 12, Anthropic acknowledged investigating elevated errors on Sonnet and Haiku models. Earlier incidents included major outages in April with login failures, 500 errors and API instability that affected thousands. A significant March 2 event left claude.ai unavailable for hours amid login and connectivity problems.

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These episodes highlight the challenges facing frontier AI labs. Unprecedented user growth — Claude frequently tops app store charts and developer adoption lists — strains infrastructure even as Anthropic invests heavily in compute and reliability. Company statements often cite “high demand” as a contributing factor during resolutions.

For users checking today, most reported normal access to claude.ai and the web interface. Some noted slower generation times or occasional throttling, particularly during peak hours in major time zones. API users generally experienced fewer problems than consumer-facing surfaces.

Troubleshooting common issues remains straightforward. Clearing browser cache, trying incognito mode, switching networks or using the mobile app often resolves temporary glitches. For persistent problems, Anthropic recommends checking the status page first and waiting briefly, as many incidents self-resolve within minutes to hours.

Enterprise and developer users face higher stakes. Claude Code, popular for programming assistance, has drawn particular complaints during past outages. Businesses integrating the API into workflows have explored redundancy strategies, such as fallback to other models or self-hosted alternatives, to mitigate downtime risks.

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Anthropic has improved transparency with its public status page and faster incident acknowledgments compared to early 2026. The company routinely posts updates during investigations and marks resolutions promptly. However, the frequency of issues has fueled user frustration and discussions about infrastructure maturity relative to competitors like OpenAI’s ChatGPT.

Broader context shows AI services remain inherently complex. Training and serving massive models requires enormous compute clusters, sophisticated load balancing and rapid scaling. Demand surges from viral features or new releases often expose bottlenecks before optimizations catch up.

Claude’s strengths — strong reasoning, coding capabilities and safety focus — continue driving loyalty despite reliability hiccups. Many users tolerate occasional downtime in exchange for what they describe as superior output quality on complex tasks. Power users maintain multiple AI subscriptions as a hedge.

As of 10 a.m. PDT on May 13, no new incident had been posted on Anthropic’s status dashboard. Social media chatter on X and Reddit showed routine usage rather than mass outage reports. Some users mentioned minor slowdowns, but the consensus pointed to normal operations with typical variability.

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Looking ahead, Anthropic faces pressure to enhance resilience as Claude’s user base expands. Future updates may include better redundancy, predictive scaling and clearer communication during partial degradations. For now, the service appears stable today, offering reassurance to students, professionals and developers counting on it.

Users experiencing problems today should first verify via status.claude.com or Downdetector. Simple workarounds like restarting sessions or trying different models often suffice. Anthropic continues iterating quickly, balancing innovation with the operational demands of serving a global audience hungry for advanced AI assistance.

While Claude avoided another full “down again” episode on May 13, its history of intermittent issues underscores the growing pains of mainstream AI adoption. As reliance on these tools deepens, reliability will remain a key competitive battleground. For most users Wednesday, Claude delivered as expected — powerful, helpful and ready for the day’s tasks.

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Cargill launches cocoa alternative with Voyage Foods

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Cargill launches cocoa alternative with Voyage Foods

US rollout of NextCoa kicks off North American launch.

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Paysafe Limited 2026 Q1 – Results – Earnings Call Presentation (NYSE:PSFE) 2026-05-13

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

This article was written by

Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team

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Global Popularity Showdown as BLACKPINK’s Comeback Edges Out TWICE’s Touring Power

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BLACKPINK And Selena Gomez

SEOUL — In the fiercely competitive world of K-pop girl groups, BLACKPINK and TWICE remain the two dominant forces heading into mid-2026, with BLACKPINK reclaiming momentum through a blockbuster comeback while TWICE sets attendance records on the road. The eternal debate — which group reigns supreme globally — shows BLACKPINK holding a slight edge in overall metrics, though TWICE’s dedicated fanbase and live draw keep the race compelling.

BLACKPINK, under YG Entertainment, made a triumphant return in early 2026 with their third mini-album DEADLINE. The release shattered first-day sales records for a K-pop girl group, moving over 1.46 million copies worldwide on day one and surpassing 1.77 million in the first week. The title track “JUMP” and follow-up “GO” dominated global charts, with “GO” claiming No. 1 on YouTube’s global weekly chart and strong Spotify performance.

As of mid-May 2026, BLACKPINK leads as the most-streamed K-pop girl group on Spotify for the year, surpassing 800 million streams and becoming the first female act to hit that milestone in 2026. The group boasts approximately 23 million monthly listeners, with a massive catalog advantage from hits like those on DEADLINE. Their world tour supporting the album spans major stadiums across 16 cities and 33 shows, building on the success of the record-breaking Born Pink tour that drew over 1.8-2.1 million fans previously.

Brand reputation rankings reinforce BLACKPINK’s position. In January and February 2026 analyses, they consistently ranked No. 1 or No. 2 among girl groups, ahead of TWICE. Their global digital artist rank remains in the top five, driven by international appeal, solo successes from Jennie, Lisa, Rosé and Jisoo, and massive YouTube presence.

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TWICE, from JYP Entertainment, counters with consistency and unmatched touring strength. Their This Is For world tour shattered records in 2026, drawing an estimated 550,000 fans across the North American leg alone — the highest attendance for a K-pop girl group in the region. The tour expanded to Europe and Japan, with three shows at Tokyo National Stadium pulling 240,000 attendees. Overall, TWICE has demonstrated robust ticket power, often outpacing newer acts in live revenue and scale.

TWICE
TWICE

Streaming-wise, TWICE trails BLACKPINK slightly in 2026 but remains competitive, reaching 600-700 million Spotify streams early in the year and ranking as the second-most streamed girl group in several periods. Their album This Is For performed strongly in the U.S., becoming one of the top-selling K-pop girl group releases there. TWICE also leads in longevity metrics, with extended charting on platforms like Spotify and Apple Music.

Fanbases tell a nuanced story. BLINKs benefit from BLACKPINK’s broader casual recognition and solo stardom, which boosts group visibility. ONCEs pride themselves on loyalty and organized support, fueling TWICE’s touring success. Social media debates rage, with some arguing TWICE has gained ground in the U.S. and Japan through consistent releases, while BLACKPINK dominates overall global searches, brand deals and cultural impact.

Album sales favor BLACKPINK in headline moments, but TWICE excels in cumulative physical and digital units over time. TWICE has moved millions in Japan and maintains strong domestic support. BLACKPINK’s DEADLINE era not only set sales benchmarks but also revived their dominance in digital points on charts like Circle.

Global metrics highlight BLACKPINK’s lead. They boast higher YouTube subscribers and views, stronger Google Trends in many regions, and more universal name recognition. Solo activities amplify this: Lisa and Jennie frequently trend worldwide. TWICE, however, shines in dedicated markets like North America for live events and maintains a wholesome, approachable image that resonates with multi-generational fans.

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Industry observers note both groups benefit from the post-BTS K-pop boom. BLACKPINK’s four-year hiatus before DEADLINE built anticipation that paid off massively, while TWICE’s steady output prevented any dip in relevance. Newer acts like IVE and LE SSERAFIM challenge them in brand rankings, but the veterans hold the top spots in cumulative influence.

Touring revenue underscores live power. TWICE’s 2026 North American success sets benchmarks, yet BLACKPINK’s stadium-scale ambitions position them for even larger grosses when fully deployed. Both groups excel where newer acts struggle — translating streams into ticket sales and sustained careers.

Social sentiment and polls often split along generational lines. Older fans lean BLACKPINK for pioneering global breakthroughs; younger ones appreciate TWICE’s relatability. Fan-voted rankings frequently place BLACKPINK higher overall, though TWICE wins in specific territories.

Looking ahead, BLACKPINK’s momentum from DEADLINE and the ongoing tour likely solidifies their position as the more popular group globally in 2026. Their blend of massive digital impact, brand power and star quality gives a broader reach. TWICE, however, proves unmatched consistency and fan connection, particularly in live settings, ensuring they remain a powerhouse.

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The rivalry elevates both. BLACKPINK sets records in sales and virality; TWICE in attendance and loyalty. Neither shows signs of fading, with potential for joint or competitive dominance in the years ahead. For now, BLACKPINK holds the slight global edge, but TWICE’s resilience makes the contest far from over.

As K-pop matures, these two groups exemplify different paths to success: explosive global phenomena versus steadfast, fan-driven empires. Fans win either way, enjoying high-quality music, spectacular performances and the thrill of the ongoing debate.

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Danone North America to close New Jersey facility

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Danone North America to close New Jersey facility

Plant manufactures Silk and So Delicious brands.

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RWE Aktiengesellschaft 2026 Q1 – Results – Earnings Call Presentation (OTCMKTS:RWEOY) 2026-05-13

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

This article was written by

Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team

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Mixed reviews for R&D tax overhaul amid 'complexity' and investment fears

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Mixed reviews for R&D tax overhaul amid 'complexity' and investment fears

Changes to the research and development tax incentive have received a mixed review from industry and experts, with some warning it risked legitimate research missing out on funds.

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London traders hit by 'king of mangoes' shortage

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London traders hit by 'king of mangoes' shortage

London’s Alphonso mango supply is down this year due to fewer imports and higher prices for shoppers.

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