Deven Choksey highlighted that investor interest in Ola Electric rose post-IPO due to fund managers' liquidity, despite initial IPO struggles. He pointed out that Ola needs to address its profitability issues, with significant losses per vehicle. He also advised cautious profit booking in overvalued stocks and anticipated valuation adjustments in mid and small-sized companies.
The stock traded at a P/E multiple of 41.71, while the price-to-book value ratio stood at 5.16.
Prime Minister Narendra Modi ceremonially welcomed Malaysian Prime Minister Anwar Ibrahim at Rashtrapati Bhavan. This marks Ibrahim’s first visit to India as Malaysian Premier. Ibrahim also paid tribute to Mahatma Gandhi at Rajghat. The visit is expected to further strengthen the Enhanced Strategic Partnership between India and Malaysia, focusing on multi-sectoral cooperation.
The 30-share BSE Sensex was up 316.21 points at 80740.89
Priyank Kharge, Minister for Electronics, Information Technology, Bio-Technology, and Rural Development & Panchayati Raj, Government of Karnataka, will deliver the keynote address at the ET Soonicorns Summit 2024, an Economic Times initiative, on September 20, 2024. This revamped and restructured third edition is set to map ever-evolving startup contours in India and outline comprehensive strategies to propel the ecosystem into the next era of innovation and progress.
A total of 44,499 shares changed hands on the counter till 11:00AM (IST).
Nippon India Mutual Fund's primary stock holdings in July featured HDFC Bank, which saw a 5.2% allocation, and NTPC with 4.2%. Other major holdings included ICICI Bank and RIL. The fund house's AUM rose to Rs 5.49 lakh crore, up from Rs 5.16 lakh crore in June.
The pace of change in Gen AI technology is fast and will continue to accelerate, necessitating investment in the partner ecosystem, Genpact CEO BK Kalra noted. Genpact's employees in small towns and cities like Jodhpur, Warangal, and Madurai have also been trained on AI and data.
The Supreme Court set aside a 2023 Calcutta High Court decision which acquitted a man accused of raping a minor and controversially advised adolescent girls to control their sexual urges. The apex court restored the man's conviction, deeming the high court’s comments ‘highly objectionable’ and stating that judges should not preach personal views in their judgments.
The stock quoted a 52-week high price of Rs 6442.65 and low of Rs 4518.35.
The 30-share BSE Sensex was up 370.91 points at 80795.59
The launch of DALL-E took the world by storm even though artists didn’t appreciate it much. Since then GenAI science has brought to fore a slew of startups like Midjourney, Stable Diffusion, which have democratised art by generating supreme quality images with just a few words.
The Central Bureau of Investigation (CBI) continued its probe into the rape and murder of a trainee doctor at RG Kar Medical College in Kolkata. The West Bengal government has formed a Special Investigation Team (SIT) to look into financial irregularities at the hospital. Prominent artists protested, demanding justice and severe punishment for the accused.
Rahul Gandhi commemorated his father Rajiv Gandhi's birth anniversary, pledging to carry forward his vision for India. He visited Veer Bhumi to offer floral tributes. Party MP Jairam Ramesh praised Rajiv Gandhi's impactful political and technological contributions, citing significant reforms and national development projects during his time as Prime Minister.
A total of 4,054 shares changed hands on the counter till 10:51AM (IST)
Table Space intended a $100 million investment in office buildings, beginning with a Rs 450 crore acquisition of 900,000 sq ft in Pune. Having raised $325 million in 2022, the Bengaluru-based company manages over 10.5 million sq ft nationwide. It plans to expand by 5 million sq ft to meet increasing demand for flexible office space.
A total of 8,882 shares changed hands on the counter till 10:45AM (IST).
The Nifty Auto index was trading 0.26 per cent up at 25434.65.
During the first quarter of FY25, some Nifty500 companies saw a rise in promoter share pledging. Significant upticks included 360 One Wam at 9.2%, IRB Infrastructure Developers at 6.4%, and Max Financial Services at 3.5%.
The Relative Strength Index of the stock stood at 63.86 on Tuesday.
The Nifty Pharma index was trading 0.11 per cent up at 22263.15.
Plan shows Apple making further progress with India assembly Company is shifting output to India to diversify beyond China. The production of Apple’s entire iPhone range in India is a major landmark for the US tech giant’s local push that started gathering steam in 2021, helped by Prime Minister Narendra Modi’s financial incentives to attract high-end manufacturing.
Promoters held 51.5 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 7.79 per cent and 2.38 per cent, respectively.
9 youngest PMs in recent times