BUSINESS
'Uncomfortable' Musk Seeks More Voting Control at Tesla to Advance AI Initiatives
Musk, who currently holds approximately a 13.4% stake in Tesla, sold his shares to acquire X for $44 billion in October 2022.
Sensex and Nifty Hit All-Time Highs, Reflecting Strong Market Performance
Mandar Bhojane, Research Analyst at Choice Broking, noted that both Sensex and Nifty reached new highs of 73,322 and 22,104, respectively, driven by a rally in IT stocks, fueled by December quarter results exceeding Street estimates.
Wholesale Price Inflation Hits 9-Month High in December
The positive inflation rate in December is attributed to increases in prices of food articles, machinery & equipment, other manufacturing, other transport equipment, and computer, electronics & optical products, according to the Commerce ministry. Wholesale food prices saw a 9.38% increase, while fuel group prices declined by (-) 2.14%.
Motilal Oswal Advocates Buying HCL Tech, Maintains Neutral Position on Wipro
In a report, Motilal Oswal highlighted HCL Technologies' robust performance in Q3FY24, with a 6% quarter-on-quarter (QoQ) revenue growth in constant currency (CC) terms. The growth was attributed to seasonal gains in HCL Software (P&P), which increased by 34% QoQ.
Go First Extends Deadline for Financial Bids and EOI Submissions in Airline Acquisition Process Until January 19
Notable entities expressing interest in acquiring Go First include Sky One, an aviation company based in Sharjah, US-based NS Aviation, and SpiceJet. Sky One acknowledged its interest but refrained from providing detailed comments at this early stage.
Nifty Surpasses 22K Points Milestone, Brokerages Urge Caution in Investment Approach
Pranav Haridasan, MD and CEO at Axis Securities, highlighted that the recent surge in the IT sector leading the Nifty rally this month, particularly in the last two trading sessions, has been fueled by positive results and attractive valuations. However, he urged caution, noting that sharp rallies may not be sustainable.
SpiceJet Gains In-Principle Approval from BSE for Rs 2,242 Crore Fund Infusion
The in-principle approval from BSE is a significant development for SpiceJet, allowing the airline to proceed with the process of fund infusion. This approval is a crucial step for SpiceJet's growth, providing the necessary financial support.
Sensex Surpasses 73,000 Mark, Propelled by Wipro's Performance
The market rally, initially driven by momentum, is now finding support from fundamentals, according to V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Railway Stocks Surge Up to 17% in Market Trading
All these stocks reached new 52-week highs, with IRFC reaching these highs on substantial trading volumes.
Rupee Strengthens by 18 Paise, Trading at 82.77 Against US Dollar in Early Trade
In the previous session on Friday, the rupee strengthened for the eighth consecutive session, closing with a gain of 6 paise at 82.95 against the US dollar.
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