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small-cap Russell 2000 index hitting an all-time high after Scott Bessent's nomination as U.S. Treasury secretary helped push bond yields lower. Focus also turned to talks of a ceasefire deal between Israel and Lebanon, which pushed oil prices lower, dragging the Energy index 2% lower.

HUL, Zomato, Adani Enterprises, Wipro, LT Foods, Power Grid among others will be in focus due to various news developments. Zomato

Hinduja Group is in talks with investors to raise ₹4,300 crore — the second tranche — to fund the acquisition of Anil Ambani's financial services company Reliance Capital through the ongoing insolvency resolution process, according to people familiar with the matter. The first tranche amounting to ₹3,000 crore was raised from Barclays and 360 One in September, as reported by ET. The second round had been delayed pending approval from the Department for Promotion of Industry and Internal Trade (DPIIT), people cited above said.

Stocks declined, giving back some of the robust gains of the previous session, when they were buoyed by the nomination of fund manager Scott Bessent as Treasury Secretary, considered by investors as a voice for Wall Street in Washington.

Subscribe to enjoy similar stories. As expected in the previous day's market commentary, the Indian benchmark index Nifty50 opened with a strong gap-up, taking cues from the Maharashtra state election and positive global sentiment. The index opened 346-point higher at 24,253, registered an intraday high at 24,351, and closed at 24,222.

Subscribe to enjoy similar stories. The last few weeks have been a roller coaster ride for gold. A breathtaking rally to new highs followed by a bone-crunching decline in double quick time.

Subscribe to enjoy similar stories. With just one real blockbuster to show this year in horror comedy Stree 2, entertainment industry experts expect Hindi box office returns for 2024 to be 30-40% lower than in 2023. Stree 2 collected ₹627.02 crore at the domestic box office, with the next best being Diwali releases Singham Again ( ₹259.95 crore) and Bhool Bhulaiyaa 3 ( ₹260.15 crore), according to data from entertainment portal Bollywood Hungama.

Other than the need to import gold and oil, the heart of our trade deficit stems from imbalanced trade with Asian economies. Of these, the biggest is our trade deficit with China, at over $83 bn a year. Our industrial machine can’t compete with the Chinese one as they sell to us 6× what we sell to them. Is this all a result of free trade? Not quite. What really exists are state-backed national manufacturing systems that compete for the best industries in the world economy. And that is where China, along with other East Asian nations, has had tremendous success.

Bharatiya Janata Party (BJP) led Mahayuti alliance in Maharashtra assembly elections. It was a broad based rally panning all sectors but bank stocks stood out. While the benchmark S&P BSE Sensex settled at 80,109.85, up by 992.74 points or 1.25%, the broader Nifty closed at 24,221.90, higher by 314.65 points or 1.32%.

Subscribe to enjoy similar stories. China’s industrial overcapacity became an issue of global concern even before the election of Donald Trump. Now his threat to place tariffs of 60% or more on Chinese exports will elevate the issue even further.

equity indexes. This was the strongest one-day gain for the local currency since June 3, LSEG data showed. The rupee rose to 84.25 intraday, according to Reuters, but likely dollar absorption by the Reserve Bank of India put a cap on the appreciation, traders said.

News of Donald Trump’s election win sent Bitcoin soaring to record highs after he rebranded himself as a pro-crypto candidate on the campaign trail.

equity market has been on a remarkable run in 2024, with the S&P 500 posting gains of over 25% year-to-date, outpacing India's Nifty50, which has risen 11% during the same period. However, as highlighted by Gary Dugan, Chief Executive Officer of The Global CIO Office in a note, this rally warrants cautious optimism.

HDFC Bank's stock soared as much as 3.2% on Monday, reaching a record high of Rs 1,801.90 on the BSE, driven by an anticipated increase in the heavyweight lender’s MSCI index weightage, which is projected to draw $1.9 billion in inflows. With the MSCI November 2024 index review coming into effect from Monday, the banking giant was in the spotlight as it underwent a weightage adjustment. This adjustment reflects the final tranche of a phased increase announced earlier this year, solidifying HDFC Bank's role as a key driver in the MSCI index realignment.

EQT AB is considering an initial public offering for Indira IVF that could raise about $400 million, according to people familiar with the matter. The Stockholm-based investment firm is working with arrangers to help prepare for an IPO in Mumbai as soon as next year, the people said, asking not to be identified because the matter is private. A share sale could value the IVF clinic operator at about $2.5 billion, they said.

capital market regulator the Securities and Exchange Board of India (SEBI) for its maiden equity share sale. The company’s initial public offering (IPO) comprises a fresh issue of up to Rs 1,590 crore. The developer proposes to utilize the net proceeds towards repayment and pre-payment, in full or in part, of certain borrowings availed by the company and its subsidiaries, and general corporate purposes.

Cummins India staged a recovery on Monday with over 6% gain after shedding nearly 7% since declaring the September quarter result on November 7. The company reported a strong double digit growth year-on-year in revenue and profit for the second quarter amid expansion in operating margin before depreciation and amortisation (EBITDA margin). However, uncertainty over the extent of demand, pricing of the diesel power generators under 800 Kilowatt-hour (kWh) capacity, which was buoyant in the first two quarters of the current fiscal year, and elevated valuation are some of the concerns for the stock. The Central Pollution Control Board made CPCB IV plus compliance mandatory for generators under 800 KVA range since July 01. These standards, in a bid to improve air quality, prescribe the permissible levels of pollutants emitted by diesel generators. This regulatory push was a key driver in sales of gensets under 800 kWh during the first half of FY25 for Cummins India. In addition, the company also reported traction from data centre sector for its generators, which are in the above 800 kWh range and follow CPCB II norms.

Subscribe to enjoy similar stories. Leading China hawks in the U.S. House of Representatives are calling for a rethink on whether Hong Kong should continue to enjoy the cozy banking relationship it has with the U.S., saying the city is becoming a hub for money-laundering and sanctions evasion.

Tim Cook joined more than 20 corporate leaders in discussions with China’s premier Monday, as global companies grapple with potential trade disruptions and economic uncertainty. Cook, who’s visiting the country for at least the third time this year, joined top executives of global firms including Rio Tinto Plc, Corning Inc. and Charoen Pokphand Group in a meeting with Li Qiang, according to people familiar with the matter, who asked not to be identified discussing a private session. Chinese corporate chiefs including the heads of Lenovo Group and ICBC also attended the discussions focused on supply chain and trade issues, according to a guest list seen by Bloomberg News. The event comes ahead of a supply chain expo in Beijing that starts on Tuesday.

The price band for the Issue is Rs 10 lac to Rs 10..5 lac per unit, and it will open for subscription on 2nd December, 2024. The minimum bid size is 1 unit. “The IPO is a fresh issue of Platina units with no offer-for-sale component. The Offer Proceeds are proposed to be utilised primarily for acquiring the Prestige Tech Platina asset by the Platina SPVs, with the remaining utilised for other general corporate purposes,” the company said.

Subscribe to enjoy similar stories. Crompton Greaves Consumer Electricals Ltd’s shares have gained 9% since its September quarter results (Q2FY25) were released around mid-November. Consolidated gross margin expanded year-on-year, pushing Ebitda growth to 16.5%, ahead of 6% revenue growth.