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BEIJING — Tesla cut prices for its electric cars in China by more than BYD did for its flagship Han sedan, according to analysis Wednesday from U.S.-based firm JL Warren Capital.

BLS E-Services Ltd, and Popular Vehicles and Services Ltd — received capital markets regulator Sebi's go-ahead to raise funds through initial public offerings (IPOs). These companies, which filed their preliminary IPO papers with Sebi between August and October, obtained observation letters from the regulator during December 12-15, an update by the markets watchdog showed on Wednesday. In Sebi's parlance, obtaining its observation letter means its go-ahead to float the public issue.

BSE Sensex over a five-year period. Note the outperformance of the NASADAQ. Now, if I took a 10-year time frame the outperformance almost goes away.

₹499 to ₹524 per equity share of the face value of ₹2. Azad Engineering IPO lot size is 28 equity shares and in multiples of 28 equity shares thereafter.

IT stocks in the last few days following the Fed's dovish tilt could turn out to be premature, say analysts after going through the earnings of Accenture. The key peer of Indian IT services companies reported Q1 revenue growth in line with its guidance range, but Managed Services growth moderated to a 14-quarter low. Accenture reiterated its headline FY24 revenue growth guidance of 2-5% YoYcc but increased the inorganic contribution to more than 2% vs 2% earlier, which implies that FY24 organic growth guidance has been trimmed slightly. Management indicated no change in the demand environment – persistent weakness in BFS, CMT, and discretionary spends. A likely weak discretionary demand environment is been seen as negative for Infosys, while incremental weakness in the UK could have negative implications for TCS.

multibagger returns of over 200% in the last 12 months, Indian Rail Finance Corporation (IRFC) shares have emerged from a fresh consolidation breakout and are set for another leg of rally in the short term. The stock has an estimated upside of 13% over the current levels. The over three-decade-old company is a dedicated financing arm of the Indian Railways for mobilising funds from domestic as well as overseas capital markets. On Tuesday, the stock hit a fresh 52-week high of Rs 101.50.

Nippon Life India Asset Management Ltd share price gained up to 8.9% in morning trades on the NSE on Wednesday. A large trade deal news triggered these gains. The share price also scaled 52 week highs of ₹489 on Wednesday CNBC TV-18 quoting sources has reported that Private sector lender IndusInd Bank is likely to divest a 2.86% equity stake in Nippon Life India Asset Management Ltd (Nippon AMC) through block deals.

KKR) bought him for ₹24.75 crore. The Australian bowler surpassed the previous record held by his captain Pat Cummins, who was bought for ₹20.50 crore by Sunrisers Hyderabad. However, the IPL was originally designed to promote upcoming talents from India.

Parliament on December 19 indicates a significant surge of 28 percent in unclaimed deposits held by banks, reaching a total of ₹42,270 crore as of March 2023. Compared to the preceding financial year of FY22, where the unclaimed deposits with both public and private sector banks stood at ₹32,934 crore, the current figure represents a noteworthy increase to ₹42,272 crore by the end of March 2023, marking a 28 percent rise.

Alec Baldwin was captured on video at a pro-Palestinian rally in New York City on Monday during a heated argument with a protester.

Indian rupee inched up on Wednesday, supported by strength in some of its Asian peers, but gains on the local unit are likely to be limited on dollar buying interest from local oil companies and importers. The rupee was at 83.15 against the U.S. dollar as of 10:15 a.m.

Coforge Ltd, part of the IT industry, breaks out from an inverted Head & Shoulder pattern on the weekly charts which has opened room for the stock to head towards 7000 levels, suggest experts. The stock rose by about 10% in a week which helped the stock to break out from an Inverse Head & Shoulder pattern on the weekly charts. The neckline of the pattern was placed around 6100 levels. After breaching the neckline of the inverse head & shoulder pattern earlier in December placed at 6100 levels the stock hit a fresh record high of Rs 6528 on 19th December 2023. The stock has been in an uptrend after hitting a low above 4700 levels in October 2023.

portfolio after husband Rakesh Jhunjhunwala's death last year, has seen at least three stocks giving multibagger returns in 2023 while most of the profits came from 5.4% holding in Titan. Going by the September quarter shareholding pattern of listed companies Jhunjhunwala owned 25 stocks, the value of which has grown 14% this quarter to Rs 39,000 crore. Details are available only of companies where the ace investor owned at least 1% stake. An analysis of his portfolio shows that the investor's best performing stock is Tata Motors DVR which is up 138% so far in the calendar year.

As activists and diplomats first assembled in Dubai for Cop28, the UN’s climate summit, a fortnight ago, the chances of significant progress seemed slim. War had returned to the Middle East and the geopolitical order was fragmenting. The choice of the summit’s host country—the United Arab Emirates, one of the world’s leading petrostates—and its chairman, Sultan al-Jaber, the head of its national oil company, threatened to turn the event into a giant exercise in greenwashing.

Motilal Oswal Financial Services Ltd showed that while debt of the entire corporate sector (listed plus unlisted) has grown at a similar pace in the pre- and post-Covid period, debt of listed companies has grown at a much slower pace, compared to that of the unlisted sector. In fact, the debt of the latter has grown faster than seen in the pre-covid period.

India's steel demand will likely slow in the next financial year beginning March as a mammoth general election will delay government projects and infrastructure spending, analysts and industry executives said. Steady government spending on infrastructure projects propelled India, the world's second-biggest crude steel producer, into one of the fastest-growing markets for the alloy globally, even as world demand slackened. But steel demand is expected to grow at a modest 7%-10% in the 2024-25 fiscal year, slower than a projected 11%-12% growth in the current year to March 2024, the analysts and industry executives said. Prime Minister Narendra Modi's ruling Bharatiya Janata Party will seek a third term in the next general elections due in early 2024. Staggered voting in India's general elections, the world's largest democratic exercise, takes place for weeks. «We expect finished steel consumption in India to increase by 9% in FY25, following a 12% rise in FY24,» Fitch Ratings said. But India would still remain the main growth market globally for steel, it said. Finished steel consumption hit a five-year high between April and October as construction activity picked up and the automobile sector showed robust demand. The construction sector grew 13.3% year-on-year in the July-September quarter and posted a 7.9% growth from the previous quarter to June 2023, the highest in five quarters.

Temples across the US are preparing week-long celebrations in North America to commemorate the inauguration of the Ram Mandir in Ayodhya on January 22 next year, a top official representing these temples has said. «It's our fortune and blessings to us that we are part of this phenomenon and the temple of our dreams is getting materialised after centuries of wait and struggle. Everyone's emotions in the US and Canada are very high. Shraddha (devotion) is built up and everyone is eagerly waiting to receive Bhagwan Shri Ram in his mandir,» Tejal Shah from the Hindu Mandirs Empowerment Council (HMEC) told.

investment norms for banks and non-banking finance companies that invest in Alternative Investment Funds (AIF), potentially disrupting the flow of institutional money into these high-risk, aggressively managed corpuses and helping prevent likely evergreening of doubtful credit. RBI has asked banks and NBFCs not to invest in AIFs that invest in companies they had a loan or investment exposure to in the past 12 months. Under scrutiny These AIFs were under regulatory scrutiny for being allegedly used to extend the life of loans, often unpaid or restructured. RBI, along with Sebi, had been investigating several cases where AIFs are misused to circumvent financial regulations. «Against the backdrop of 'evergreening', the existing structures in the market operated in a regulatory vacuum of not being prohibited and in more instances than not, failed to pass the smell test on account of the spirit of the existing RBI regulations,» said Veena Sivaramakrishnan, a partner at law firm Shardul Amarchand Mangaldas & Co. Also, the RBI has said that if a bank or financial institution has a lending relationship with a company that an AIF invests in, they must sell their investment in that AIF within the next 30 days.

Day trading guide for today: The Nifty 50 and Sensex, leading benchmark indices, reached new all-time highs of 21,505.05 and 71,623.71, respectively, during intraday trading on Tuesday, December 19. The Nifty 50 concluded with a 34-point gain, equivalent to a 0.16% increase, closing at 21,453.10. Simultaneously, the Sensex wrapped up at 71,437.19, marking a 122-point upswing, translating to a 0.17% rise.

By Stella Qiu

global market cues. The Asian markets traded higher while the US stocks ended with gains overnight amid upbeat sentiment over easing monetary policy by the central bank going ahead. Catch Live Market Updates here However, a spike in crude oil prices on concerns over disruption in the Red Sea would weigh on investor sentiment.