The anchor portion of Swiggy's initial public offering (IPO) closed on Tuesday. This and more in today’s ETtech Morning Dispatch.
The FBI issued a warning about bomb threats targeting polling places in several US states on Election Day. The threats, deemed not credible, appeared to originate from Russia. Georgia reported 32 bomb threats, leading to brief closures of some polling sites. Authorities reassured the public about election security amid concerns about potential unrest and interference.
The underlying short-term trend of Nifty is on the verge of reversal. A decisive move above 24500 levels could open fresh upmove in the market. Any weakness from here is expected to drag Nifty down to 23900-800 levels again, said Nagaraj Shetti of HDFC Securities.
Early results show Republican Donald Trump winning Florida, a state where he has a residence at Mar-a-Lago. He also claimed victories in Alabama, Indiana, Kentucky, Missouri, Oklahoma, Tennessee, and West Virginia. Democratic VP Kamala Harris won Maryland, Massachusetts, and Washington, D.C. The race for the presidency is expected to hinge on several key battleground states, with 270 electoral votes needed to win.
GAIL (India) on Wednesday reported 11% growth in its standalone net profit at Rs 2,672 crore for the September quarter. This was Rs 2405 crore in the last year quarter.
About a half hour after polls closed in six states, futures on the S&P 500 were up almost half a percentage point, 10-year Treasury yields rose and Bitcoin rallied, moves that together bore the imprint of trades linked to a Donald Trump victory. While results were still being collected and polls remained open in the vast majority of states, the ex-president’s odds of election were climbing on betting markets and on national forecasting sites such as Decision Desk HQ.
The US election results this time, may see one of the most complex outcomes, as the last-minute exit poll data is now showing predictions that may land Democrats in a major spot of worry. Early exit polls from the US elections are an indicator as to which way things will go, and things at the moment, are not looking very good for Kamala Harris.
Israeli Prime Minister Netanyahu fired Defense Minister Yoav Gallant after a clash over handling the war with Hamas in Gaza. Gallant, who disagreed with Netanyahu on military strategy and cease-fire talks, was replaced by Foreign Minister Israel Katz.
US election results 2024 are being declared as both Donald Trump and Kamala Harris are looking for the magic figure of 270 electoral votes.
These instruments-marketed to financial institutions, private equity houses, corporate treasuries, retail investors as well as fund houses and portfolio management firms-don't come under Sebi's regulatory domain, which is primary regulator for credit rating agencies.
In Tuesday's U.S. presidential election, Donald Trump won Indiana, Kentucky, and West Virginia, while Kamala Harris captured Vermont. Early results favored Trump in key battleground states. Exit polls showed widespread concern about democracy, with 73% fearing its threat.
Kamala Harris is now steadily going ahead in the US election 2024 race, with the polling in US having already started from the early morning of November 5. Meanwhile, betting markets which were earlier rooting for Trump, is now doubling down and choosing Harris instead, with the 2024 US election results soon to be out.
Historically, stocks mostly trade above these long-term trend indicators in a roaring bull market. In the event of declines such as the current one, they tend to fall below the 200-DMA, an indication of deep-rooted weakness in the market. The 200-DMA signifies a stock’s trend over the past year. A year has roughly 200 trading sessions.
India is among the top 5 countries by market capitalisation, but its share in the global market capitalisation is between 4-5%. Given this low share, wealth managers feel there is a need to diversify equity portfolios geographically to manage risk and participate in industries, tech and firms that are not available in the Indian stock market.
The Bharatiya Janata Party (BJP) expelled 40 workers for disciplinary violations across 37 constituencies. This comes after the Mahayuti alliance—comprising BJP, Shiv Sena, and NCP—launched a manifesto in Kolhapur, outlining plans for Maharashtra's prosperity.
This acquisition aims to position Tessolve as a leading design firm capable of delivering advanced turnkey solutions, particularly in System on Chip (SoC) designs for AI, automotive, and data center markets. The move will also strengthen Tessolve’s European presence with new facilities in Germany and the Netherlands.
Existing investors Xponentia Capital, Finsight Ventures, Harbourfront Capital, and Pegasus India Evolving Opportunities Fund, participated in the funding round of the home financing startup.
This marks Mounttech’s maiden investment since its first close in July this year. On September 22, ET reported that the fund raised Rs 400 crore and closed its first deal, with three more deals nearing finalisation. The VC firm did not disclose the amount it is investing in the startup.
IT companies such as Infosys, Tata Consultancy Services and HCLTech to global majors like Accenture have been setting up AI labs from Japan to the Nordic countries to the Americas to showcase their AI and generative AI capabilities to existing and prospective clients.
It demands a P/E multiple of 24 based on FY24 earnings while its enterprise value works out to be nearly 23 times Ebitda. Adani Green Energy, a larger peer, trades at FY25 expected P/E of 113 and EV/Ebitda of over 34.
India’s Foreign Minister, Subrahmanyam Jaishankar, stated that the U.S. is likely to become more isolationist regardless of its next president, citing a trend since Obama's presidency. He noted U.S. reluctance in global commitments and troop deployments, including the Afghan withdrawal.
The United States headed to the polls Tuesday in a tense election with Vice President Kamala Harris facing off against former President Donald Trump. Early polls closed with predictable results as both candidates secured expected states. All eyes are on key battleground states like Pennsylvania and Georgia, where concerns over election integrity and potential unrest loom large.
The IPO, which opens Wednesday and closes Friday, has been priced in the band of ₹371-390 per share. The grey market premium - the price in the unofficial market that investors pay for the shares before listing - was at ₹20 for Swiggy on Tuesday, a 5% premium to the upper price band of ₹390.
With foreign institutional investor headroom in HDFC Bank remaining above 20% in the quarter ended September, India's largest private-sector bank is set to attract an additional $1.8 billion in foreign inflows.
