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DeepSeek's claim that it model was made at a fraction of the cost of its rivals has shaken up the AI industry.
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Shares of Anant Raj dropped significantly by up to 19.75% due to a global sell-off in technology stocks. The slump followed the launch of a low-cost Chinese AI model by DeepSeek, which has quickly gained popularity, overshadowing competitors like ChatGPT and contributing to market declines.
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Federal Bank share price dropped 6% after reporting a 5% YoY decline in net profit for Q3 FY25, despite strong operating profit and improved asset quality. The bank's accelerated provisions and higher provisions impacted profits. Analysts JPMorgan and UBS maintained "Buy" ratings, with revised target prices, noting slower growth but strong operational performance.
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