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New Delhi: Shares of <keyword id="20599931" type="General" weightage="100" keywordseo="NTPC-Green-Energy" source="keywords">NTPC Green Energy</keyword> Ltd, the <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> arm of <keyword id="19903558" type="General" weightage="20" keywordseo="NTPC" source="keywords" meta.keywordsubtype="org" meta.entityname="NTPC" meta.hostid="261" meta.entityid="NTPC">NTPC</keyword>, listed with a premium of over 3 per cent against the issue price of Rs 108 on Wednesday. The stock made its debut at Rs 111.60, up 3.33 per cent from the issue price on the BSE. Later, it climbed 12.40 per cent to Rs 121.40. At the NSE, it listed at Rs 111.50, up 3.24 per cent. The company's market valuation stood at Rs 1,02,211.38 crore during the morning trade. Shares of NTPC climbed nearly 2 per cent to Rs 368.80 on the BSE. The <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> of NTPC Green Energy Ltd got subscribed 2.40 times on the closing day of the share sale on Friday. The Rs 10,000-crore share sale had a price band of Rs 102-108 per share. Proceeds from the <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>, about Rs 7,500 crore at the upper band, will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd's (NREL) outstanding loans, and a portion will be utilised for general corporate purposes. NTPC Green Energy is a 'Maharatna' central public sector enterprise with a renewable energy portfolio, including solar and wind power assets.

NTPC Green Energy shares debut with over 3% premium

<ul class="summary-list"><li>Citi strategists cautioned investors against piling into a rally fueled by a Trump victory. </li><li>They said a potential rally could slow after the initial euphoria wears off. </li></ul>Citi strategists aren't feeling great about either US presidential candidate's impact on the stock market, but a Republican sweep, in particular, might prompt investors to rethink their exposure. Citi analysts noted that while many attribute the recent surge of bullishness to climbing odds for a Donald Trump victory, rising market optimism may be linked to other factors. "All told, we maintain a view that both candidate platforms are incrementally negative to equity fundamentals," the analysts said in a note on Tuesday. "Generally, we are inclined to lighten into any further Trump tailwinds post-election."The Citi strategists said that valuations and "near-euphoric sentiment" in the S&amp;P 500 have more to do with things other than the election that have been influencing stocks for most of this year. "We read it more about soft landing sentiment, ongoing AI-influenced growth tailwinds, along with a pivoting Fed."That means investors should avoid piling into a market rally fueled by a Trump win, since it could slow considerably after the initial euphoria wears off in the coming months, the analysts said."Any further post-election follow through presents an opportunity to lighten into what may be a more confusing election-impacted fundamental picture early next year," they wrote.The analysts added that they see neither candidate as a particularly positive influence on the stock market, though a Trump win would likely be more beneficial. Trump's deregulatory focus and lower corporate tax rates have largely been touted as more business-friendly and a boost to earnings, while his proposals for <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-impose-tariffs-china-if-elected-2024-2?utm_medium=ingest&amp;utm_source=markets&amp;_gl=1*l3401n*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMDMwNjQzNS4zMzYuMS4xNzMwMzA3OTU4LjIuMC4w">soaring tariffs</a> on imports could pose longer-term downside risks.But while the analysts see Kamala Harris's higher corporate taxes as more negative for US equities overall, a Harris win could pose a short-term, buy-the-dip opportunity."On the other hand, while a Harris + split outcome may trigger some initial market pressure, our inclination would be to buy into related weakness," they wrote.

Stocks are gripped by 'near-euphoric sentiment' and the election may offer a chance to pull back, Citi says

The much-anticipated IPO (<keyword id="20478869" type="General" weightage="20" keywordseo="initial-public-offer" source="keywords">initial public offer</keyword>) of food and grocery delivery giant Swiggy is expected to go live between November 6th and 8th, 2024, with the window for <keyword id="21330641" type="General" weightage="20" keywordseo="anchor-investors" source="keywords">anchor investors</keyword> likely to open on November 5, 2024. The offer consists of around Rs 3,750 crore worth of <keyword id="20953853" type="General" weightage="20" keywordseo="fresh-issue" source="keywords">fresh issue</keyword> and an offer for sale (OFS) of around 18.53 crore shares. All in all, the total issue is expected to be in the range of Rs 11,700 crore and Rs 11,800 crore. Per media reports, the fresh issue component is expected to be pushed up to Rs 4,500 crore, with the company now targeting a diluted valuation of $11.3 billion, as opposed to its previous target of $15 billion. The 25% slash is done to aid retail investors. Per the company, it does not want a "bad IPO." Notably, Swiggy's rival <keyword id="19901323" type="General" weightage="20" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword>, which recently reported a staggering 389% YoY jump in its net profits, also recently announced that it is taking the QIP (qualified institutional placement) to raise Rs 8,500 crore. For the quarter ended September 30, 2024, Zomato earned a net profit of Rs 176 crore. Over the last year, i.e., between March 2023 and 2024, Swiggy saw its revenue from operations jump by 34% from 8,714.45 crore in FY23 to Rs 11,634.35 crore in FY24. The company's losses also narrowed down to Rs 2,350.24 crore in FY24, from Rs 4,179.31 crore in FY23. Swiggy's rival Zomato had gone public in July 2021, with an offer size of Rs 9,375 crore. At present, the company's stock was trading at Rs 251.95, having surged a whopping 138.48% over the last year. As of August this year, the company's quick commerce wing, <keyword id="20255906" type="General" weightage="20" keywordseo="Instamart" source="keywords">Instamart</keyword>, has a network of 605 active dark stores across 43 Indian cities. Some of the major existing investors in Swiggy include Prosus, which holds a 32% stake, SoftBank, which has an 8% stake, and Accel, which holds a 6% stake in the company. Notably, <keyword id="23707337" type="General" weightage="20" keywordseo="market-watchdog-SEBI" source="keywords">market watchdog SEBI</keyword> had approved Swiggy's IPO via the confidential filing route. Under this mechanism, companies can file for a DRHP (draft red herring prospectus) without making it public. The company has the power to decide when to make this document available for public view after having incorporated the suggestions of the regulator.

Swiggy IPO likely between November 6-8, 2024. Here's all you need to know

<keyword id="20214518" type="General" weightage="100" keywordseo="Hyundai-Motors-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai Motors India" meta.hostid="261" meta.entityid="Hyundai Motors India">Hyundai Motors India</keyword>'s IPO witnessed a muted debut on the bourses today. The share of the Indian subsidiary of South Korean automobile behemoth is listed at Rs 1,934 on the NSE, at a discount of 1.33% to its issue price of Rs 1,960. On the other hand, the share is listed at a discount of 1.48% to the issue price on the BSE. The IPO, touted to be India's biggest ever, was entirely an OFS (<keyword id="20209731" type="General" weightage="20" keywordseo="offer-for-sale" source="keywords">offer for sale</keyword>) worth Rs 27,870.16 crore and had set a price band of Rs 1,865 to Rs 1,960. As of 10:45 am today, the share was trading at Rs 1,907 on the NSE. On the BSE, the share was also trading at Rs 1,906, down by around 2.72%. The stock debuted on NSE at a price of Rs 1,934, before briefly inching up to its intra-day high of Rs 1,970. As of 10:50 am, the stock's intra-day low stands at Rs 1,844.65. With a <keyword id="19932516" type="General" weightage="20" keywordseo="market-cap" source="keywords">market cap</keyword> of Rs 1,51,376.41 crore, Hyundai Motors India (HMI) had opened for subscription between October 15th and 17th, 2024. Post this, the promoter's shareholding in the company has come down to 82.5%. The issue saw muted participation from <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword>, who subscribed 0.5x times to the IPO. However, QIBs (<keyword id="20240741" type="General" weightage="20" keywordseo="qualified-institutional-buyers" source="keywords">qualified institutional buyers</keyword>) had oversubscribed nearly 700% to the IPO. The company's GMP (<keyword id="19905703" type="General" weightage="20" keywordseo="grey-market-premium" source="keywords">grey market premium</keyword>) in the unofficial markets, as of this morning, was at Rs 48, which translates to the markets anticipating a potential listing gain of 2.45% per share. However, with a discounted listing, the stock continues to extend losses. <h2>Brokerages initiate buy coverage</h2> Experts are currently wary of the auto sector, given the ongoing slowdown in the passenger vehicle (PV) space, even as India approaches the festive season. Data from SIAM (Society of Indian Automobile Manufacturers) noted that during the first half of FY25, PV sales grew at a minimal 0.5%, much lower than the projected growth of 3-4%. Most automakers have forecast muted sales growth for the upcoming quarter as well, which has further dampened investor sentiment in this space. Even Hyundai had reported an 8% decrease in domestic PV dispatches made in August 2024, compared to the year-ago period. Brokerage firm Motilal Oswal initiated coverage on Hyundai Motors India with a "buy" tag. It noted that Hyundai has a robust, well-established PV ecosystem in India to its advantage, apart from having strong backing from the parent company. "We hence assign a 27x one-year FWD multiple to HMI, relative to our target multiple of 26x currently assigned to Maruti Suzuki. Therefore, we arrive at our target price of Rs 2,345 for Hyundai Motors India, based on 27x Sep’26E earnings. We initiate coverage on Hyundai Motors India with a buy rating," the broking added. Macquarie also initiated coverage of Hyundai Motor India at a target price of Rs 2,235, implying a 14% upside to the issue price. Per the firm, "HMIL deserves to trade at a premium PE multiple versus peers due to its favorable portfolio mix and premium positioning." Nomura initiated coverage with buy rating and target price of Rs 2,472, based on FY27F EPS. "We estimate HMI to deliver about 8% volume CAGR over FY25-27F driven by 7-8 new models (including facelifts) and its EBITDA margins to improve to 14% by FY27F from 13.1% in FY24. We believe this will be led by improving mix, cost reduction and operating leverage. Overall, we estimate HMI to deliver about 17% earnings CAGR over FY25-27F," it added. As research firm Master Capital Services Ltd notes, with an improved market share in key segments due to a favorable product mix, the brand has the potential for further growth. "Investors with a long-term perspective could consider holding the stock, as future performance will most likely be driven by the company's competitive market position and product enhancements," it explained.

Hyundai IPO listing: India's biggest ever IPO lists lower than issue price, brokerages issue buy rating

The <keyword id="6422463" type="General" weightage="20" keywordseo="us-presidential-elections" source="Orion">US presidential elections</keyword> have always been a global spectacle, with both geopolitical and economic implications for almost the entire world. The primary uncertainty, as with any election, is who will win. But after the last election, when President <keyword id="19918985" type="General" weightage="100" keywordseo="donald-trump" source="keywords">Donald Trump</keyword> refused to concede in 2020, the suspense also involves whether the candidates will accept the verdict. Moreover, an added layer of uncertainty is the continued ambiguity over the specific policy measures that both Republican and Democratic candidates will take during the first few weeks. The result of all these uncertainties, along with the growing geopolitical conflicts and economic turbulences, is a <keyword id="6357440" type="General" weightage="20" keywordseo="stock-market" source="Orion">stock market</keyword> that’s wobbling beyond bounds. As investors flock to safer asset classes like gold and bonds, the Indian stock market has been on a downward spiral for over a month now, dropping almost 10% from its peak in late September. <h2>Sensex, Nifty tumbles on Monday</h2>On Monday, November 4, Indian stock markets continued to experience heightened volatility. The <keyword id="20783156" type="General" weightage="20" keywordseo="sensex-and-nifty" source="keywords">Sensex and Nifty</keyword> indices have each dropped by nearly 2% by noon, reflecting investor caution and aligning with recent market declines. On Monday morning, investors' wealth eroded by Rs 7.37 lakh crore as the equity markets fell sharply over 1000 points. “As October concluded, it marked a challenging month for bulls, erasing gains accumulated over the past two months, with Nifty dropping more than 6% one of the steepest monthly declines in recent times, which has impacted the monthly chart's structure… a breach below this week's support range of 24100–24000 could trigger further weakness, possibly pulling prices toward the 200 SMA near 23500,” says Sameet Chavan, Head Research, Technical and Derivative - Angel One. The turbulence is mirrored across major sectors, with substantial drops in IT, pharma, and financial stocks. High-profile stocks such as Reliance Industries, Hero Motorcorp, Coal India, ONGC and Tata Motors are all facing significant declines, with all these stocks down over 3%. Additionally, the Indian rupee has weakened to record lows, and government bond yields have risen, indicating investors are positioning for an extended period of uncertainty. The heightened volatility, alongside the U.S. election dynamics, is creating both caution and opportunities for Indian traders. With high demand for safer assets, this period could offer gains for those correctly positioned, but for the broader market, these fluctuations highlight the risks tied to global dependencies and the complex U.S.-India economic linkages. <h2>What should retail investors do?</h2>While the Sensex has seen a 7% dip from recent highs, the rupee has touched a historic low, and government bond yields are up by 14 basis points. The experts recommendations are also varying on what the investors should do at this crucial juncture. Given the growing uncertainties, retail investors should wait before deploying more capital, focusing on high-quality stocks and avoiding frothy small and midcap stocks that may carry heightened risks in the current environment, says the market expert Vijay Chopra. "Retail investors can look into buying shares of good companies where valuations are reasonable. This market correction is a good opportunity to buy as India's growth path is intact," says Shriram Subramanian, Founder and MD, InGovern Research Services. Overall, Indian investors and market analysts recommend a cautious approach. While the U.S. election creates a unique atmosphere of uncertainty, sticking to core investment principles—like diversification and long-term planning—can provide a buffer against the volatility expected over the coming weeks. Indian investors are increasingly aware that while the U.S. election is a spectacle to follow, broader economic indicators and global trends will ultimately shape the markets more than any one election outcome. <h2>Expectations from the US presidential election 2024</h2> <div type="image" title="Donald Trump vs Kamala Harris" agency="ETMarkets.com" msid="114938964" hostid="261" caption="&amp;lt;p&amp;gt;Representational image&amp;lt;/p&amp;gt;"></div> As the U.S. prepares for its 2024 presidential election, the Indian markets are not immune to the volatility. With Vice President <keyword id="20307089" type="General" weightage="20" keywordseo="kamala-harris" source="keywords">Kamala Harris</keyword> and former President Donald Trump in a tight race, stakes are high even for the Indian retail investors. The next U.S. administration’s policies could ripple through global markets, including India’s. As per the experts, three primary issues in the U.S. election — tariffs, immigration, and taxation — could directly affect the Indian economy and investor sentiment, according to an analysis from <a href="https://economictimes.indiatimes.com/prime/economy-and-policy/trump-will-tower-over-the-markets-this-week/primearticleshow/114931074.cms">The Economic Times</a>. Trump’s administration has historically used tariffs to curtail China’s manufacturing dominance, and if he wins, a continuation or even expansion of these tariffs could push inflation up. The ripple effect could push costs of imports and exports higher across emerging markets like India, affecting key sectors that trade with the US like IT, industrials, and manufacturing sectors. In terms of immigration, a potential Trump victory could bring renewed scrutiny on H-1B visas, which are crucial for India’s tech sector as nearly 75% of these visas go to Indian workers. On the other hand, a Harris administration is likely to adopt a more lenient approach, but specifics would depend on Congress. Regarding taxation, Trump’s policies are often seen as pro-business, but Harris has proposed tax reforms aimed at higher corporate taxes, which could lower S&amp;P 500 earnings by as much as 5.5%. The central role of the US dollar and investments in the global economy means that any volatility in American markets often has a cascading effect on emerging markets. As it stands, uncertainty has already driven the CBOE Volatility Index (VIX) higher, commonly referred to as Wall Street’s “fear gauge,” reflecting increased anxiety among global investors. For Indian markets, this could mean a series of short-term fluctuations, but a steady, diversified approach remains essential. History shows that while elections create immediate market ripples, longer-term impacts are typically moderate. (With inputs from agencies) Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

Indian stock markets wobble as uncertainty builds around the U.S. election this week. What should investors do?

In the last two years, there has been a rapid rise in scams in India and a lot of people have lost their hard-earned money after trusting strangers for financial advice. Be it a fraudulent app, being added to a shady WhatsApp group, or receiving phone calls from strangers that sound too good to be true, many cases have come to light. Now, in a new incident, a doctor from Thane, Maharashtra, was misled by three Karnataka-based suspects who promised earnings via a municipal contract to supply medical equipment, costing him ₹3.84 crore. Despite investing over a three-year period, he saw no returns and reported the crime to the Naupada police, who have registered a case but made no arrests. Thane doctor tricked by false municipal contract According to a PTI report, a 39-year-old doctor in Thane, Maharashtra was deceived by three men from Karnataka. These fraudsters offered him lucrative returns through a supposed municipal contract for supplying medical equipment. Convinced by the promise of reliable profits, the doctor began investing heavily in December 2020, making significant contributions until March this year. The doctor’s substantial investment – totalling ₹3.84 crore – was made over multiple transactions from December 2020 and March this year, in anticipation of high returns that never materialised. Suspicion finally arose after the doctor had seen no profits despite his repeated investments. Recognising he may have been defrauded, he reached out to the Naupada police station, who registered a case under charges of cheating. While no arrests have been made so far, authorities have launched an investigation to track down the perpetrators and recover the funds if possible. A police official told PTI, "The man approached police after he did not get profits or any return on investment. We have registered a case of cheating but have not arrested anyone." Ahmedabad gynaecologist duped in <keyword id="21361161" type="General" weightage="100" keywordseo="stock-market-scam" source="keywords">stock market scam</keyword> In a similar incident, a gynaecologist from Ahmedabad lost ₹1.1 crore to a scam that began with a social media advertisement. Attracted by the potential for substantial stock market returns, the doctor engaged with a group promising expert tips and was subsequently added to a WhatsApp group where members shared investment insights. Through this group, he was introduced to a web link for stock and IPO investments, along with an application that required his banking details and identification documents. A PTI report revealed that the doctor’s initial investment of ₹50,000 yielded a profit of ₹10,000, which he successfully withdrew. This initial success encouraged him to make larger investments, transferring ₹1.1 crore through multiple transactions in pursuit of higher gains. When he later attempted to withdraw his funds, he was unexpectedly asked to pay 20% of his total profits. After refusing this demand, he was removed from the WhatsApp group and realised the extent of the deception. He contacted Cybercrime police in February, and after months of waiting, a formal case was registered against unknown suspects under charges of breach of trust and cheating, alongside provisions of the <keyword id="20003647" type="General" weightage="20" keywordseo="information-technology-act" source="keywords">Information Technology Act</keyword>.

Thane doctor gets cheated of ₹3.84 crore, was promised high financial returns by 3 men

<ul class="summary-list"><li>US stocks traded mixed as investors looked ahead to the central bank's meeting minutes.</li><li>The release will offer more insight into what the Fed is thinking about monetary policy and inflation.</li></ul>US stocks were mixed early Wednesday as traders looked ahead to the minutes of the Federal Reserve's last policy meeting, which should give further guidance on the path of interest rates for the rest of the year. All three benchmark indexes traded slightly in the red, while bond yields were up slightly. Investors will be parsing through the Fed's latest meeting minutes later on Wednesday, which will give more insight into what central bankers are thinking about the economy and the trajectory of rate cuts this year and beyond. Monetary policy is in focus after an unexpectedly hot job report in September, fueling doubt over whether the Fed will issue another jumbo rate cut this year."The minutes of the last Federal Reserve meeting are due, and should be fascinating," Paul Donovan, the chief economist of UBS Global Wealth Management, said in a note. "The tone of the Fed minutes should not change expectations of further rate cuts—the Fed is still scrambling to catch up with inflation slowing in the US, and started cutting rates late. But expectations about the pace of easing may be set by the minutes."According to Pantheon Macroeconomics, the Fed is more likely to begin cutting rates in 25-basis-point increments rather than issuing another 50-basis-point rate cut."Even so, we still think the FOMC is putting undue emphasis on the current strength of the economy rather than the direction of travel and the lagged impact of earlier tightening still in the pipeline," economists at the research firm said in a note. "We expect a 25bp easing in November but think a soft run of jobs and activity data in Q4 and Q1 will soon have the Fed scrambling to avoid falling behind the curve."Central bankers will assess another jobs report and the September Consumer Price Index, which will be published Thursday morning, before making their next rate move. The inflation report will be a high-stakes data point for the Fed after the big September payroll report, with markets anxious that officials may have to turn their attention back to prices after pivoting to the labor market at their last meeting. Markets are pricing in an 88% chance the Fed will issue a quarter-point cut, while odds of another jumbo-sized cut have been slashed completely, according to the <a target="_blank" class="" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch tool</a>.Google parent Alphabet fell 1% in early trading as the US Department of Justice <a target="_blank" class="" href="https://storage.courtlistener.com/recap/gov.uscourts.dcd.223205/gov.uscourts.dcd.223205.1052.0_1.pdf">indicated it could break up the tech giant</a>. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Wednesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,752.93, up 0.06% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 42,194.38, up 0.27% (+114 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,150.47, down 0.18%</li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://www.businessinsider.com/fed-interest-rate-cuts-outlook-economy-recession-no-landing-borrowing-2024-10?_gl=1*i6n3nu*_ga*OTI1ODIwOTQ2LjE3MTYzOTg2NjU.*_ga_E21CV80ZCZ*MTcyODQ3ODgzNS40MjMuMS4xNzI4NDgwNDc4LjMxLjAuMA..">The economy is facing a "no-landing" scenario</a> that could take away some relief from higher interest rates.</li><li><a target="_blank" class="" href="https://www.businessinsider.com/mortgage-rate-increase-since-federal-reserve-cut-interest-rates-housing-2024-10?_gl=1*i6n3nu*_ga*OTI1ODIwOTQ2LjE3MTYzOTg2NjU.*_ga_E21CV80ZCZ*MTcyODQ3ODgzNS40MjMuMS4xNzI4NDgwNDc4LjMxLjAuMA..">Fed rate cuts were expected to push mortgage rates lower</a>, but the opposite has happened.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stocks-q3-earnings-lower-rates-stocks-returns-outlook-bofa-2024-10">The bar for corporate earnings is low</a>. That's good news for stocks, as long as companies are feeling upbeat about rate cuts, according to Bank of America.</li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil dipped 2% to $72.06 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was fell 2% to $75.63 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> slipped 0.39% to $2,612.00 an ounce.</li><li>The 10-year Treasury yield was about flat at 4.041%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> edged lower 0.8% to trade at $61,930.</li></ul>

Stock market today: US stocks trade mixed with Fed minutes and rate outlook in focus

<a target="_blank" href="https://www.businessinsider.com/tesla-ceo-elon-musk">Tesla CEO Elon Musk</a> threw his money and influence behind Donald Trump.He gave speeches, <a target="_blank" href="https://www.businessinsider.com/elon-musk-private-jet-hits-swing-states-campaigns-donald-trump-2024-10">hosted rallies</a> in swing states, posted frequently on X, and funneled at least $119 million into a <a target="_blank" href="https://www.businessinsider.com/elon-musk-super-pac-america-continuing-after-election-midterms-2024-11">pro-Trump super PAC</a> called America PAC.When Trump won the election, Tesla's stock soared. Its share price is now up nearly 33% year to date.On Tuesday, President-elect <a target="_blank" href="https://www.businessinsider.com/trump-elon-musk-vivek-ramaswamy-department-government-efficiency-doge-2024-11">Trump announced</a> that Musk would take on an advisory role and co-lead the Department of Government Efficiency, or DOGE, alongside the entrepreneur Vivek Ramaswamy.Inside Tesla, the response to Trump's victory, and Musk's role in it, has been mixed. Business Insider spoke with nine current employees in states across the country, including California and Texas. Though they represent a sliver of the automaker's global workforce of more than 100,000 employees, the conversations offer a glimpse into the internal response to the election.Some of the workers said they wish Musk would pay more attention to Tesla. Others said the CEO's involvement with Trump could benefit the company.Most of them were celebrating the company's surging stock price, as Tesla stock makes up a significant share of most workers' <a target="_blank" href="https://www.businessinsider.com/tesla-salary-database-elon-musk-pay-strategy-2024-11">compensation</a>.<h2 id="f2ff1729-e00e-492e-a77e-d3344b215374">Hope, celebration, and conflict</h2>One engineer said that while they hadn't voted for Trump, they felt Musk could "supercharge" the US government. Another employee who did vote for Trump said they were "excited for what this could mean for Tesla and for our country."Another employee said Trump's win and the sudden surge in Tesla's stock price had many at the company feeling more hopeful."Since being hired, the stock has primarily trended sideways, and it was difficult for a lot of employees to see value in the company as many of us are given stock to compensate for lower hourly pay," one employee said. "Now that the stock is moving in a positive direction, there is a sense of renewed hope for the company with employees generally."For others who spoke to Business Insider, the rising share price led to conflicted emotions."On one hand, you want to celebrate the fact that the stock is up an insane amount, but on the other, it's difficult to be truly happy because of Trump and what it means for Tesla's mission," one engineer said. The employee said that Trump's climate-crisis denial could be a roadblock to Tesla's mission of transitioning to sustainable energy.Trump has <a target="_blank" href="https://www.reuters.com/world/us/trump-says-he-would-consider-ending-7500-electric-vehicle-credit-2024-08-19/">said</a> he plans to increase US oil production and may roll back vehicle-emissions standards and incentives designed to promote the production and adoption of electric cars. At an October rally in Detroit, Trump <a target="_blank" href="https://www.factcheck.org/2024/10/the-issues-trumps-proposal-to-lower-prices-by-increasing-energy-production/">said</a> he planned to "frack, frack, frack, and drill, baby, drill." Musk has <a target="_blank" href="https://www.cnbc.com/2024/05/23/tesla-ceo-elon-musk-says-he-favors-no-tariffs-on-chinese-evs.html#:~:text=Tesla%20has%20been%20struggling%20this,Q&amp;A%20session%20was%20being%20livestreamed.">said</a> in the past that he doesn't agree with tax incentives for electric cars.Tesla and Musk did not respond to a request for comment.<h2 id="2854b357-98e7-4ef9-ae66-46c451c3e979">Musk's growing list of commitments</h2>Some Tesla factory workers in Texas and California were given time off to vote on Election Day in compliance with state laws, multiple factory workers in both states said. Separately, Tesla managers were sent a guide on how to address political discussions in the workplace, one worker said.Postelection, three employees said the election hasn't been discussed much at work. "No one is saying anything," said one. "I think everyone is just waiting to see how this all plays out now.""There's this feeling that no one fully knows where anyone else stands," one manager told BI.Some Tesla-connected figures have been more open. Tesla's director of AI, Ashok Elluswamy, posted about Trump's victory on X.Kimbal Musk, Elon Musk's brother and a Tesla board member, also appeared to celebrate the win.The DOGE advisory role will be another time commitment for Musk, who's already involved with five companies. Musk's private jet has flown to and from Palm Beach, Florida, near Trump's estate in Mar-a-Lago, five times since November 5, according to data from the <a target="_blank" href="https://jetspy.com/">jet-tracking company JetSpy</a>. On Wednesday, Musk's jet flew from Palm Beach to an airport near Washington, DC, where he attended Trump's first postelection meeting with House Republicans.Six workers said they felt Musk had taken his focus off Tesla."It feels like a lot of political theater," one worker said. "We sell cars. Anywhere else you'd expect the CEO to be focused on that."Do you work at one of Musk's companies or have a tip? Reach out to the reporter via a non-work email and device at <a target="_blank" href="mailto:gkay@businessinsider.com">gkay@businessinsider.com</a> or 248-894-6012

At Tesla, some are celebrating stock gains — others worry Elon will lose focus

The one-hour <keyword id="23618998" type="General" weightage="100" keywordseo="Muhurat-trading" source="keywords">muhurat trading</keyword> session, which marks <keyword id="20963892" type="General" weightage="20" keywordseo="Diwali-2024" source="keywords">Diwali 2024</keyword> and the onset of Hindu Samvat 2081 on both NSE and BSE, is set to commence at 6 pm today and will conclude at 7 pm. Generally, investors and traders make symbolic stock buys during this hour-long session, since it is believed that purchases made during this time herald wealth and prosperity for one’s investments for the year to come. If you are looking for <keyword id="19910146" type="General" weightage="20" keywordseo="stock-recommendations" source="keywords">stock recommendations</keyword> to add to your portfolio, here are a few value picks by SAMCO and Kotak Securities you can consider: <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> Ltd Holding period: 1 year Last Traded Price: Rs 1,734.30 Per the firm, “The bank has maintained a robust 10-year profit CAGR of 21.74%, operating with a NIM (net interest margin) of 3.5% and a low net NPA (non-performing assets) of 0.3%. Advances and deposits have shown steady growth. Currently, the stock trades below its 10-year average price-to-book value and at a price-to-earnings ratio of 19, offering a favorable risk-reward profile with a substantial downside buffer”. <keyword id="22086440" type="General" weightage="20" keywordseo="Vindhya-Telelinks" source="keywords" meta.keywordsubtype="org" meta.entityname="Vindhya Telelinks" meta.hostid="261" meta.entityid="Vindhya Telelinks">Vindhya Telelinks</keyword> Ltd Holding Period: 1 year Last Traded Price: Rs 1,992.55 SAMCO notes that this key cable manufacturing, which is a joint venture between Universal Cables Limited and Madhya Pradesh State Industrial Development Corporation, has shown robust growth over the last 5 years, nearly doubling revenues with a 14.3% CAGR. The company holds significant investments in Birla Cable Ltd, Birla Corporation Ltd, and Universal Cable Ltd, totaling Rs 3,618 crore—surpassing its market capitalization of Rs 2,545 crore. This solid investment base underscores Vindhya Telelinks’ strong fundamentals and financial potential. <keyword id="23763358" type="General" weightage="20" keywordseo="Ramco-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Ramco Industries" meta.hostid="261" meta.entityid="Ramco Industries">Ramco Industries</keyword> Ltd Holding Period: 1 year Last Traded Price: Rs 244.89 SAMCO observes that over the past decade, sales grew at a 7% CAGR, while the share price rose at a 14% CAGR. Known for its financial stability, Ramco Industries boasts a low debt-equity ratio of 0.07 and has consistently paid dividends since FY17, currently yielding 0.31%. The stock’s attractive price-to-book multiple of 0.5 offers a solid margin of safety, highlighting its investment appeal. <keyword id="22786675" type="General" weightage="20" keywordseo="Gravita-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Gravita India" meta.hostid="261" meta.entityid="Gravita India">Gravita India</keyword> Holding Period: 12 months Last Traded Price: Rs 2,119 Kotak explains that Gravita India is the market leader in India’s emerging recycling industry with a focus on lead recycling. Gravita India is increasing its recycling capacity by a massive 72% to 500 ktpa by FY27E. “We expect the company’s earnings per share to grow by 31.8% in FY25E &amp; 31.6% in FY26E. We also expect an upside of 15% or more on this stock over the next 12 months”, adds Kotak’s note. <keyword id="23763359" type="General" weightage="20" keywordseo="S-H-Kelkar" source="keywords" meta.keywordsubtype="org" meta.entityname="S H Kelkar" meta.hostid="261" meta.entityid="S H Kelkar">S H Kelkar</keyword> and Company (SHKL) Holding Period: 12 months Last Traded Price: Rs 289.90 The company is a flavors &amp; fragrances (F&amp;F) supplier and has started to make inroads into the global market. SHK is well-placed to drive double-digit revenue growth. The company is a small but emerging contender in the vast F&amp;F market, with potential for margin expansion—higher-margin geographies &amp; operating leverage—allowing for over 15% return upside in the next 12 months. Kotak Securities further notes that FY25 will likely see more broad-based growth across sectors. However, the OMCs (oil marketing companies) may likely drag down overall profits. Most sectors and stocks are quite overvalued, with the degree of overvaluation ranging from: (1) low for most large-cap consumers, IT services, and pharmaceuticals (2) medium in the investment space (3) high in the case of several low-quality companies. "As the broader market valuations are rich, opportunities arising from market correction can be used to add quality stocks (with attractive valuations) from a long-term investment perspective," explains the research firm's note. SAMCO further advises adding a little glitter to your portfolio using GoldBees and SilverBees ETFs since there are recessionary fears in the US and geopolitical tensions across the world. Even central bankers like RBI have been adding gold to their vaults like never before. At present, markets are looking to secure their return on capital rather than seeking a return on capital. "Thus all of these make a strong case to add gold and silver to the portfolio. They will give stability to your portfolio this Samvat," adds SAMCO's note.

Muhurat trading 2024: 5 stock picks you can consider this time around

<ul class="summary-list"><li>Smaller stocks may be poised to outperform amid a low bar for earnings, Citi analysts say.</li><li>Smaller stocks may also be hedged against risks related to a Trump presidency. </li></ul>After a rally this summer, inflows to smaller stocks have dwindled in recent weeks, but the under-the-radar corner of the market may be poised to outperform in the coming months, Citi analysts said.The analysts point to a host of factors, from a low bar for earnings beats to factors related to a potential Donald Trump victory, as signs pointing to an upcoming rally for small-caps.The analysts said that smaller stocks have a lower bar to clear for earnings growth, making it easier for them to impress Wall Street when they report results. They say small and mid-cap stocks are pricing in 2%-10% growth in earnings-per-share over the next three years, while the S&amp;P 500 is expected to show 15%-22% EPS growth."While earnings surprises have been stronger up cap thus far in Q3 reporting, larger or similar percentage beats in certain Small/Mid Cap sectors/names may be rewarded more by markets given a lower bar into results," the analysts said. "The S&amp;P 500, driven by the Magnificent 7, may need stronger results and upward forward estimate revisions to justify current levels."Second, smaller stocks may be hedged from risks related to a second Donald Trump presidency. Trump has proposed sweeping tariffs of 20% on all imports and tariffs of <a target="_blank" href="https://www.businessinsider.com/donald-trump-impose-tariffs-china-if-elected-2024-2?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;_gl=1*w1ioyc*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMDQ2ODgwMS4zNDcuMS4xNzMwNDY5MzgxLjQwLjAuMA..">60% or more on goods from China</a>. The analysts said small-caps have historically been hedged against tariff-related risks. They pointed to how small caps initially outperformed on his surprise victory in 2016, and again after he implemented steel tariffs during his first term. "In both cases, Small/Mid Cap round-tripped relative performance gains when economic data came in softer than expected," the analysts said.At the same time, the market doesn't seem to be expecting much strength from small caps in the case of a Trump win, meaning they have further room to run, the analysts say."Conversely, with low implicit growth expectations, Small/Mid Cap to some degree could be a Trump trade with relatively little priced in at current levels," they said.Finally, their third point noted that small caps generally are less liquid, though they noted that focusing on smaller names could be a trade-off given the opportunities. "Impressive Large Cap performance has clearly created some hesitancy to move down cap, and related, down in liquidity. To us, a move down cap in search of alpha opportunities could help manage certain risks, offering investors a trade-off for lesser liquidity relative to Large," the analysts said.

3 reasons investors should rotate into smaller stocks, according to Citi

Hours after listing on both the <keyword id="20004725" type="General" weightage="20" keywordseo="NSE" source="keywords" meta.keywordsubtype="org" meta.entityname="NSE" meta.hostid="261" meta.entityid="NSE">NSE</keyword> and <keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords" meta.keywordsubtype="org" meta.entityname="BSE" meta.hostid="261" meta.entityid="BSE">BSE</keyword> at a handsome premium of around 70%, stocks of <keyword id="20668069" type="General" weightage="100" keywordseo="Waaree-Energies" source="keywords" meta.keywordsubtype="org" meta.entityname="Waaree Energies" meta.hostid="261" meta.entityid="Waaree Energies">Waaree Energies</keyword> tumbled by over 5%. As of 2:45 pm today, <keyword id="19895974" type="General" weightage="20" keywordseo="waaree" source="keywords">Waaree</keyword>'s stock was trading at Rs 2,356.20, down by 5.75% on NSE, while on BSE, the stock was trading at Rs 2,358.20, down by as much as 7.76%. Notably, the stock was listed at Rs 2,550 on the BSE today and Rs 2,500 on the NSE. After hitting an intra-day high of Rs 2,624 during the day, Waaree's stocks also slumped to a low of Rs 2,300 on the NSE, where its total <keyword id="19932516" type="General" weightage="20" keywordseo="market-cap" source="keywords">market cap</keyword> stood at Rs 68,660.68 crore. Waaree's offer worth Rs 4,321.44 crore saw a thumping reception from investors across all categories and, overall, was subscribed to around 79.44 times. Retail investors oversubscribed 11.27x times to the issue, bidding for 11,16,95,301 shares, as opposed to 99,11,869 shares reserved for them. The price band for the <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword> was set between Rs 1,427 and Rs 1,503, with investors required to subscribe to a minimum of 9 shares. However, <keyword id="21713453" type="General" weightage="20" keywordseo="QIBs" source="keywords">QIBs</keyword> (qualified institutional buyers) were the most enthusiastic takers of this offer, oversubscribing 215.03x to the issue. As against 55,38,663 shares earmarked for them, QIBs bid for a staggering 1,21,79,37,402 shares. Data suggests that on BSE, as of 2:30 pm, about 70,893 shares of Waaree had been bought, while a massive 7,26,330 shares had been sold during the day. On NSE, a total of 6,84,826 shares had been bought by investors, while 15,42,515 shares had been sold. Clearly, the stock saw heavy profit booking today, with investors looking to make an exit with substantial listing gains. On the financial front, Waaree has also been posting steady numbers over the past few years. Its PAT (<keyword id="20298212" type="General" weightage="20" keywordseo="profit-after-tax" source="keywords">profit after tax</keyword>) jumped from Rs 79.65 crore in FY22 to Rs 500.28 crore in FY23 and Rs 1,274.38 crore in FY24. The company also boasts a healthy PAT margin of 11.47%. The company exports to almost 68 countries, and as of June 30, 2024, had a capacity of 12 GW for manufacturing solar PV modules. Notably, Waaree is India's largest producer of solar PV (photovoltaic) modules. Shivani Nyati, Head of Wealth, Swastika Investmart Ltd., notes that the company made a strong debut on the bourses, reflecting investor confidence in the company's growth potential and financial stability. "Investors may consider booking part profits here, and those who want to hold it for the long term may keep a stoploss of 2,000", she noted. In a media interaction today, Amit Paithankar, CEO of Waaree Energies, noted that currently, demand is extremely robust, with the policy framework helping the same. "We have been growing our margins, which now stand at 15%. Of course, in the next two years, we see them evolve at a higher level. All of that taken together, we are looking at robust margins going forward of about 200 basis points," he added.

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