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interest rates elevated. What does higher for longer mean? Over the past year, various central bankers including Reserve Bank of India governor Shaktikanta Das and US Federal Reserve chairman Jerome Powell have said that tackling high inflation may need interest rates being kept higher for longer. Financial markets, however, had predicted that central banks would start cutting rates by the end of 2022, less than a year after the hiking cycle commenced. Indeed, data shows that the Fed started cutting rates only eight months after its previous hiking cycle ended in December 2018.

JSW Steel, Reliance Industries and ICICI Bank is driving the overall performance. The spread of earnings has been decent, with 74 percent of MOFSL Universe either meeting or exceeding profit expectations. However, growth has been led by the BFSI, O&G, and Automobile sectors, it reviewed.

LONDON (Reuters) — Britain's construction industry suffered a second month of shrinkage in October as higher borrowing costs hit house-builders and worries about the weak economy put clients off new investment, a survey showed on Monday.

By Ankika Biswas

Tesla plans to build a 25,000-euro ($26,838) car at its factory near Berlin, a source with knowledge of the matter said on Monday, in a long-awaited development for the electric vehicle maker which is aiming for mass uptake of its cars. The source, who declined to be named, did not say when production would begin. Tesla declined to comment.

Investing.com — The U.S. dollar edged lower in early European trade Monday, falling to a six-week low and extending last week’s declines on the back of a less hawkish stance from the Federal Reserve. 

BERLIN (Reuters) — The German service sector slipped back into contraction in October amid persistent weakness in demand, a survey showed on Monday.

LONDON (Reuters) — The downturn in euro zone business activity accelerated last month as demand in the dominant services industry weakened further, a survey showed on Monday, suggesting there is a growing chance of a recession in the 20-country currency union.

Narendra Modi on the one hand, and a bevy of Parliamentarians from Delhi descending to contest state elections on the other, especially in Madhya Pradesh. This is being seen as a strategy to counter anti-incumbency and project a new image to voters. In bilateral contests, especially close ones, smaller parties can play spoilers.

Bharat Forge on Monday reported a 29% year-on-year (YoY) growth in net profit for the quarter ended September to Rs 346 crore, driven by a strong topline and operational performance. Revenue from operations grew by nearly 21% to Rs 2,249 crore, driven by a 21% growth each in exports and domestic revenue. The quarter saw stellar performance on the exports front, with passenger vehicle (PV) exports growing 39% YoY.

Mahavir Lunawat, MD of Pantomath Capital Advisors believes India's economic resilience and its attractiveness as an investment hub are causing a strong influx of IPOs. In an interview with Mint, Lunawat said the IPO trend will continue in H2 2024, with a strong pipeline of over $9 billion. Edited excerpts: Compared to most of the other major economies, India stands out distinctly as one of the bright spots in the world today.

Ashok Sonthalia, CFO, Titan Company, says “the mid premium, premium, high value segments are showing very good traction, good demand and growth rates are very high in those segments. The growth in consumer numbers is also high. Entry level demand is a little bit dull still. I would say the whole discretionary aspect at the entry price point, the target segment of consumer is yet to see the whole thing panning out, but early signs are very good and we are very positive about Q3 and Q4 shaping up.” Well, the festive season this time is falling in Q3 versus Q2 that we had seen last year. But so far, given that we are halfway through the festive season, what is the demand looking like? Are you seeing that festive cheer and festive mood in the consumer sentiment as well? Yes, from last year, the start period had shifted to Q3 and so the first 15 days were slightly slower and even gold prices have become volatile because of the geopolitical situation outside India.

Colgate-Palmolive (India) Ltd. rose 0.52 per cent to Rs 2115.0 in Monday's trade. It hit an intraday high of Rs 2117.55 and low of Rs 2087.1, respectively, during the day.

Aam Aadmi Party (AAP) leader Harpal Singh Cheema on Monday said that most stubble-burning is happening in Bharatiya Janata Party (BJP)-ruled states, like, Uttar Pradesh and Haryana and alleged that the BJP is maligning Punjab's image under a well-fabricated conspiracy. While speaking to ANI, Cheema said, “The BJP is maligning Punjab's image under a well-fabricated conspiracy. In fact, most stubble-burning is happening in the states like Haryana and Uttar Pradesh, which are ruled by them.

Salman Khan’s much-anticipated film Tiger 3. The Hindi movie, showcasing in various formats including 2D, IMAX 2D, and 4DX, has witnessed a remarkable response from the audience, indicating a strong opening day turnout. The standard 2D Hindi screenings have raked in an impressive gross of ₹3.9 crore with 138,804 tickets sold, indicating a substantial interest in conventional viewing experiences.

smallcap stocks including Suzlon Energy, Kalyan Jewellers, KEI Industries and the newly-listed JSW Infra can get upgraded to midcap status. Calculations done by Nuvama show that the remaining 10 stocks waiting to enter the midcap universe are Mazagon Dock, Lloyds Metal, SJVN, CreditAccess Grameen, Emami, Exide Industries, Ajanta Pharma, Glenmark Pharma, Nippon Life and Fivestar Business. Suzlon, the stock of which has rallied over 300% in the last 6 months, is also seen entering the MSCI India Standard Index in its quarterly review on 14th November. Stocks which can get downgraded from midcap to smallcap are Rajesh Exports, Aarti Industries, Pfizer, Vinati Organics, Crompton Greaves, Bharat Dynamics, Atul, Navin Fluorine, Whirlpool, Laurus Labs, Sumitomo Chemicals, Aditya Birla Fashion, Bata India and Kajaria Ceramics. The mutual fund body will announce a reshuffle in the first week of January 2024 and will be applicable from February to July 2024. «The change in categorization doesn’t lead to incremental inflows or outflow. The active mutual fund managers keep an eye on the list while taking fresh/modifying positions in stocks in different categories of schemes,» Nuvama said. Stocks which can move from largecap to midcap are, UPL, Adani Wilmar, IRCTC, PI Industries, Bosch, Tube Investments, Hero Motocorp and Samvardhana Motherson. On the other hand, Nuvama sees IRFC, Power Fin Corp, Polycab Macrotech, Shriram Finance, Union Bank, Indian Overseas Bank, REC Ltd and Jio Financial getting largecap status. AMFI categorises stocks on the basis of its 6-month average market capitalisation.

PI Industries Ltd. traded 0.69 per cent down at Rs 3465.65 at 01:24PM (IST) on Monday, even as BSE benchmark Sensex gained 410.95 points to 64774.73.

Pune and Chennai at 4% and Ahmedabad with a 3% growth in six months were markets with the most growth, showed a Knight Frank India study. Total 23 million sq ft space transacted in the first half ending September across the top eight markets represents a 10% on-year drop in volume.

India’s cultural heritage, has ended up as a punching bag for Internet trolls. Ace fashion designer Sabyasachi, who recently launched his autumn collection has found himself in a bit of a pickle after his labour of love was turned into a laughing stock by social media trolls. Taking to Instagram, the designer shared photos of his collection ‘HERITAGE BRIDAL 2023’. The first picture shows four women dressed in ornate sarees and chunky jewellery, sporting poker faces and staring vacantly. Each of them is shown wearing sunglasses and sporting heavily kohled eyes. While the post did gain over 31K likes on Instagram, it also got a severe backlash for making the models appear expressionless. Taking a potshot at the designer, one X user shared the picture on the microblogging site and wrote, “Great to see #sabyasachi come out with a fashion line for mourning.” Another described the models as ‘Egyptian mummies.” “I say even mannequins would do a better job. These look like Egyptian mummies resurrected from the dead,” reads the comment. Another X user quipped about the poker-faced models and described them as “grumpy.” “Is it just me or do they look so grumpy, disinterested, naraaz chachi types,” reads the comment. Taking a satirical stand against the vacant expressions, another Twitter user wrote, that the pictures reflect the state of women under the rule of Narendra Modi. However, some comments went below the belt, targeting the model’s appearance. “How long Sabyasachi will hire ugly models to give life to his lifeless clothes,” wrote a troll.

Gujarat Gas ltd saw its share price decline more than 1% in morning trades on Monday. While company had reported better than expected September quarter earnings which analysts attributed to better procurement of spot Liquified Natural Gas cargoes (LNG) cargo. However, many analysts have been tweaking their forward earnings estimates due to subdued volume outlook for industrial PNG (piped natural gas) supplies.

US Federal Reserve is likely done hiking interest rates in the current cycle. The local unit opened at 83.13 a dollar as compared to Friday’s close of 83.29. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03% higher at 105.05.