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India's top electric car maker Tata Motors is urging the government not to cut taxes on hybrid cars as they are more polluting than pure electrics, countering calls from Toyota for lower levies, according to three sources and a company letter. India is promoting electric vehicles (EV) as part of Prime Minister Narendra Modi's drive to reduce pollution, taxing them at just 5%, while the levy on hybrids is as high as 43%, just below the 48% imposed on petrol cars. That has upset the likes of Japanese automaker Toyota, which popularised hybrids with the Prius, and has since last year been urging India to cut taxes on them, saying they reduce carbon emissions compared to gasoline cars.

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NEW DELHI : India's top electric car maker Tata Motors is urging the government not to cut taxes on hybrid cars as they are more polluting than pure electrics, countering calls from Toyota for lower levies, according to three sources and a company letter. India is promoting electric vehicles (EV) as part of Prime Minister Narendra Modi's drive to reduce pollution, taxing them at just 5%, while the levy on hybrids is as high as 43%, just below the 48% imposed on petrol cars.

Blue Star share price gained 1.7% in intraday trades on Wednesday and closed with gains of almost 1%. Voltas share price also ended the day with gains of 0.16% on the BSEon a day when benchmark indices were down more than 2%.

Investing.com — U.S. stock futures fell Wednesday, retreating on renewed concerns that Federal Reserve interest rate cuts could still be some time away, while the earnings season continues. 

(Reuters) — Shares of ultra-low-cost carrier Spirit Airlines (NYSE:SAVE) fell 10% in premarket trade on Wednesday, a day after a U.S. judge blocked the airline's planned $3.8 billion merger with rival JetBlue Airways (NASDAQ:JBLU).

Commodity Trading Advisors (CTAs) have accumulated long positions in global equities, with models indicating potential sales in various scenarios, according to analysts at Goldman Sachs.

(Reuters) — Business chiefs warned on Wednesday that disruption to shipping in the Red Sea caused by attacks by Houthi militants in Yemen could affect supply chains for months and lead to a shortage of tankers needed to transport fuel.

By Paul Carsten

Investing.com — The U.S. dollar steadied at a one-month high amid increasing doubts over early interest rate cuts by the Federal Reserve, while sterling climbed on hot inflation data.

Investing.com — European stock markets fell sharply Wednesday on increased uncertainty over the likelihood of early interest rate cuts as well as disappointing Chinese growth data. 

Investing.com-- Most Asian stocks fell on Wednesday as Federal Reserve officials downplayed expectations for early interest rate cuts, while economic growth figures from China largely underwhelmed markets.

By Gilles Guillaume and Diana Mandia

Aditya Agarwala, Invest4edu, says: If markets have to sustain these levels, IT will have to chip in. So Infosys is a buy at current levels for a target of 1700 on the upside with a stop loss at 1610 on the downside. The second stock recommendation is MFSL. That too is looking decent for a short up-move, maybe a day trade or a two-day trade. So at current levels, I would initiate a buy for a target of 1,010 with a stop loss at 900 on the downside. Many of the index stocks have gone below 200 EMA moving average. It’s too late to short though. But at what levels would you start buying? Do you think the structure of the market has changed for some time or it’s just a crack? Aditya Agarwala: I believe markets are still making higher highs, higher lows.

MRF, which had hit the Rs 1 lakh share price mark in June last year, hit another milestone of Rs 1.5 lakh on Wednesday after a 10% rally. This is the first time that an Indian stock has achieved this milestone. In Wednesday's trade, MRF stock witnessed a total of 27,248 equity shares worth Rs 384.6 crore changing hands on NSE. Other than MRF's stock, Page Industries (Rs 37,770), Honeywell Automation India (Rs 37,219), 3M India (34,263) and Shree Cement (Rs 26,527) are other highest-priced stocks in India. Nestle was also one of the top expensive stocks in India until the stock split in the 1:10 ratio in early January.

Cochin Shipyard, Indian Railway Finance Corporation (IRFC), Rail Vikas Nigam (RVNL) and Mazagon Dock Shipbuilders defied weak market sentiment on Wednesday, jumping between 4-12 per cent in intraday trade. PSU stocks have been on a tear for the last one year. Data show that shares of IRFC have surged over 300 per cent while those of CPCL, REC, ITI and Power Finance Corporation have jumped between 230-270 per cent.

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The combined trading volume of the top 10 crypto exchanges in 2023 reached a staggering $34.26 trillion, a 16% decline from the previous year, cryptocurrency rating and research firm TokenInsight revealed in a report today.

Since their recent launch in the United States, spot Bitcoin ETFs have achieved a cumulative trading volume of nearly $10 billion within just three days.

Tube Investments of India Ltd. traded at Rs 3813.65 on BSE at 02:14PM (IST) on Wednesday, down 2.74 per cent from previous close. The stock quoted a 52-week low price of Rs 2375.05 and a high of Rs 4046.9.

G20 summit held under the chairmanship of India in New Delhi amply demonstrated India’s growing stature in the world arena in terms of its role and influence in various global fora. The G20 was a meticulously planned year-long event culminating into the Summit in September 2023.