Mahindra & Mahindra announced plans to introduce seven battery electric vehicles by 2030, starting new models from 2025. The company aims to increase its EV production capacity, focusing on cost-effective LFP technology. The automaker is also exploring hybrid powertrain options and has secured a supply agreement with Volkswagen for electric components.
Coal India's stock rose 3% to a 52-week high following a 4% increase in net profit for the quarter ended June 2024. Analysts from JM Financial, Motilal Oswal, and ICICI Securities have expressed positive outlooks, citing strong volume growth and efficient cost management as major factors boosting the company’s performance.
Tata Motors reported a 11% year-on-year decrease in total sales in July, with 71,996 units sold compared to 80,633 in 2023. Domestic sales fell to 70,161 units, with passenger vehicle sales down 6% and commercial vehicle sales down 18%.
A strong protest has been registered in Sri Lanka over the death of an Indian fisherman, following a collision between a Sri Lankan naval vessel and an Indian fishing boat. The Indian Consulate Officials in Jaffna have been instructed to immediately rush to Kankesanthurai and extend assistance to the fishermen and their families.
A total of 14,532 shares changed hands on the counter till time (IST).
Congress chief Mallikarjun Kharge on Thursday slammed the central government over the employment-linked incentive schemes presented as part of the Union Budget and said that "B in Bharatiya Janata Party's (BJP) budget stands for "Betrayal." Kharge said that crores of youth want a permanent solution to their plight of jobs, but Prime Minister Narendra Modi's government "bitterly deceives" them by not even giving a "temporary solution!"
Paris Olympics 2024: Turkey's Yusuf Dikec, 51, and Sevval Ilayda Tarhan of Turkey secured silver in the 10-meter air pistol mixed team event at the Paris Olympics. Dikec's casual approach, sans specialized shooting gear, went viral, gaining attention online. Their final score was 16-14, missing gold by a narrow margin.
Overnight, the US Federal Reserve maintained its key interest rate at 5.25–5.5% for the eighth consecutive time, as expected, while signaling the possibility of a rate cut in its next meeting in September. The Federal Open Market Committee's unanimous decision reflects a continued wait-and-watch approach as it monitors inflation trends.
If there is a dip, look to be a buy-on-dip. The structure of the market is pretty much bullish and there are no real signs of exhaustion or any sort of fatigue that is setting in, especially in terms of the sectoral strength.
A total of 5,153 shares changed hands on the counter till time (IST).
Ashok Leyland's total sales in July 2024 decreased by 8% to 13,928 units, compared to 15,068 units in July 2023. Domestic sales fell by 9% to 12,926 units. The company saw a 14% reduction in medium and heavy commercial vehicle sales, while light commercial vehicle sales remained steady.
The stock traded at a P/E multiple of 157.61, while the price-to-book value ratio stood at 2.39.
Kerala Wayanad Landslide: The India Meteorological Department (IMD) has urged states to take action when an Orange alert is issued, rather than waiting for a red alert. The disaster in Kerala has claimed over 200 lives and trapped hundreds. The Indian Army has successfully evacuated people from affected areas, and members of the Army's Madras Sappers built a makeshift 100-foot bridge to support rescue efforts.
After imposing the sanctions on Riju Ravindran, US Bankruptcy Judge Brendan Shannon also rejected a request to put the US debt fight on hold so Ravindran and the company could find new lawyers. American lawyers for Ravindran and Byju’s units want to quit defending their clients in the bankruptcy dispute, blaming “an irreparable breakdown.”
Air India Express launched a 'Freedom Sale' with fares starting from ₹1947 on its website. The offer, valid for bookings made until 5th August and travel until 30th September 2024, includes discounts for loyalty members, students, senior citizens, SMEs, healthcare staff, and armed forces personnel and their dependents on both domestic and international routes.
On the technical charts, the 200-day moving average of the stock stood at Rs 190.31.
So, those states will be benefited, but there will be some segments where the total input tax credit is not available, so there maybe the tax rate will be very critical to see at what rate GST will be applied on the gas.
Namma Metro's Green Line extension from Nagasandra to Madavara on Tumakuru Road is set to begin operations by October. This new stretch introduces three additional stations. The trial runs are likely to start soon. Upon completion, the extension will boost the metro network to 76 kilometers. The extended line is likely to alleviate traffic congestion, improving accessibility for Bengaluru residents.
A total of 32,454 shares changed hands on the counter till 01:09PM (IST)
Lakshya Sen: During his match with Indonesia's Jonatan Christie, he played an insane backhand shot that instantly went viral, earning praise from people like Anand Mahindra and Harsh Goenka.
The Karnataka Government introduced a cyber security policy for 2024 to tackle rising cybercrimes and enhance digital safety through awareness, education, and industry partnerships. The policy aims to build a strong cyber ecosystem and reinforce state IT asset security. This initiative involved collaboration with the Indian Institute of Science and other stakeholders.
A total of 847,212 shares changed hands on the counter till time (IST).
Adani Ports reported a 47.2% rise in consolidated profit for the June quarter, totaling Rs 3,113 crore. Revenue saw an 11.34% increase to Rs 6,956.32 crore. EBITDA grew by 13.1%, with margins improving to 61%. CEO Ashwani Gupta commented on the strong financial performance, noting a temporary issue at Gangavaram Port, now resolved.
Global bond and equity markets experienced a surge after the Fed maintained interest rates steady and signalled a potential cut in September. Nasdaq increased by 2.64%, Nifty surpassed 25,000 for the first time, and Sensex rallied past 82,000. CME FedWatch tool shows that traders are pricing in 100% probability of a rate cut for Fed's 18th September meeting as Jerome Powell clearly stated that if inflation remains on the anticipated trajectory of 2%, a rate cut might happen as early as September
