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<ul class="summary-list"><li>Morgan Stanley analysts' bull case for Tesla would see the stock soar to $500 a share. </li><li>They said Tesla's autonomous technology could be the "great unlock" that turns it into an AI giant.</li></ul>Tesla shares have a path to big upside ahead if the electric car company can expand beyond autos and if CEO Elon Musk flexes newfound political muscle in a second Donal Trump presidency, Morgan Stanley analysts said on Tuesday. The analysts, led by Adam Jonas, forecast a rise to $500 a share in their most bullish scenario, a gain of about 50% from prices on Tuesday afternoon. The stock was trading around $332.45 at 1:58 p.m. ET. They said that Tesla, with 80% of its year-to-date revenues coming from vehicle sales, is frequently excluded from the enthusiasm surrounding artificial intelligence, datacenters, renewable energy, robotics, and on-shoring. However, they think that could change in the coming years if Tesla can successfully implement some of its initiatives outside the core car business. "Tesla is a car company. That is a fact. However, we also view Tesla as a collection of call options," the analysts said in a Monday note. "Many of these call options have exercise dates far out into the future. Many may not be exercised at all. Others may be starting to move into the money right now."The analysts point in particular to its energy sector, which is already showing huge growth even though few investors cared about it just a few quarters ago. Last year, Tesla's storage deployments more than doubled, and are on track to do so again this year, the analysts say.That means it's no longer controversial to suggest Tesla's energy business could soon be more valuable than its auto business, they wrote.They also see the potential for its autonomous driving capabilities to be the "great unlock" that transforms Tesla into an AI giant."In our opinion, the winners in autonomy (whether in cars or other form factors) will be those firms who can combine capabilities in data, robotics, energy, AI, manufacturing and downstream infrastructure," the analysts said. "We believe Tesla has the capability to benefit from this theme over time."The emergence of other themes will be helped by Musk's potentially greater political influence in coming years, the analysts say.Since the election, investors seem to be betting that Musk—and his companies—will benefit from his close ties to the President-elect. Musk became a key Trump ally in the final months of the campaign, <a target="_blank" href="https://www.businessinsider.com/elon-musk-trump-gop-spending-130-million-2024-10">donating millions</a> and voicing his support in key swing states like <a target="_blank" href="https://www.businessinsider.com/elon-musk-pennsylvania-america-pac-donald-trump-harris-2024-11">Pennsylvania</a>.The analysts said it is clear that Musk has gained considerable political influence. If he applies that influence to advance policies to advance EVs, robotics, and renewables, it could accelerate Tesla's journey beyond being just a carmaker."Setting the United States on a course for EV/AV/Robotics/Renewable independence is going to involve government and industrial partnership on a scale some have compared to the Manhattan Project, US Highway Act or the Apollo Missions. Elon Musk's emergence from a political 'outsider' to having a voice in potential policies may, at some level, accelerate Tesla's journey beyond autos," the analysts say.Musk said he would be interested in <a target="_blank" rel="" class="" href="https://www.businessinsider.com/donald-trump-rally-elon-musk-save-department-government-efficiency-2024-10">running a new "Department of Government Efficiency"</a> to slash costs and reduce the federal budget. Morgan Stanley's bullish call comes as Tesla's stock has seen <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-trump-win-elon-musk-election-tsla-2024-11?_gl=1*1exg2qk*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMTQyNzQ0OS4zOTQuMC4xNzMxNDI3NDU3LjUyLjAuMA..">huge inflows</a> amid a broader <a target="_blank" href="https://markets.businessinsider.com/news/stocks/trump-election-win-stock-market-today-record-high-sp500-dow-2024-11">post-election rally</a>. The stock has risen 34% since the election outcome was called, and has continued trading around a two-year high.

Tesla stock could soar 50% as it broadens beyond autos and as Musk exerts more political influence, Morgan Stanley says 

India’s automobile sector is expected to get a boost during the upcoming festive season, with a forecasted growth of over 15%, particularly in the two-wheeler (2W) segment. According to an ANI report, this projection comes from a research report by <keyword id="23122458" type="General" weightage="20" keywordseo="nuvama-wealth-investment-limited" source="keywords">Nuvama Wealth Investment Limited</keyword>, which attributes the growth to increased customer enquiries and a resurgence in rural demand. A key factor driving this surge is the anticipated revival of rural demand, which contributes more than 55% to the two-wheeler market. According to the report, rural areas are showing strong signs of recovery, and the increased enquiries suggest a positive outlook for sales. This bodes well for mass-market original equipment manufacturers (OEMs) such as TVS Motors, <keyword id="19983534" type="General" weightage="20" keywordseo="hero-motocorp" source="keywords">Hero MotoCorp</keyword>, and <keyword id="19897354" type="General" weightage="20" keywordseo="bajaj-auto" source="keywords">Bajaj Auto</keyword>. The launch of new models, including the <keyword id="22875740" type="General" weightage="20" keywordseo="tvs-jupiter" source="keywords">TVS Jupiter</keyword> and Hero Xtreme 125R, is also expected to boost two-wheeler sales. In contrast, premium OEMs like Eicher Motors, which produces Royal Enfield motorcycles, may not experience the same level of demand growth. In the passenger vehicle segment, rural demand accounts for over 35% of the market. While growth in this area is expected to be in the single digits, it is anticipated that utility vehicles (UVs) will outpace hatchbacks with double-digit growth. This trend will likely benefit manufacturers such as Mahindra &amp; Mahindra and Tata Motors, with new models like the Mahindra Thar Roxx and Tata Currv expected to attract a significant share of customers. On the other hand, <keyword id="19909974" type="General" weightage="100" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword>, traditionally a strong player in the hatchback segment, may see more subdued growth compared to its rivals in the UV space. In preparation for the festive season, dealers have ramped up their inventories for both two-wheelers and passenger vehicles. According to the report, dealers have built up stocks for 1.5 to 2.5 months, signalling confidence in the market’s potential for increased sales. This build-up of inventory demonstrates that both manufacturers and dealers are optimistic about the surge in demand during the festive period. While two-wheelers and passenger vehicles are set to lead the charge this festive season, the commercial vehicle (CV) market is expected to grow at a more modest pace. Demand for medium and heavy commercial vehicles (MHCVs) is projected to increase in the low single digits, primarily driven by replacement demand as freight availability improves across India. Similarly, the tractor segment is expected to perform well over the next few years, with volume growth likely in the high single digits from FY24 to FY26. Tractors are seen as a strong performer in the long term, and the sector is poised to benefit from India’s agricultural demand and rural recovery. Looking beyond the festive season, the report suggests that the long-term outlook for the two-wheeler and tractor segments remains robust. Historical sales cycles, which typically span two to four years, suggest that these sectors could reach new peaks in the coming years. As a result, the report forecasts high single-digit volume growth for two-wheelers and tractors through FY24-26, while passenger vehicles and commercial vehicles are expected to see low single-digit growth. Overall, the Nuvama report paints a positive picture for the Indian automobile sector. (With PTI inputs)

Festive season to drive over 15% growth in Indian Automobile Market, says report

<ul><li>The Indian electric two-wheeler industry has reported a significant decline in sales.</li><li>The decline comes amid an increase in prices due to the end of the FAME <keyword id="20415717" type="General" weightage="20" keywordseo="subsidy-scheme" source="keywords">subsidy scheme</keyword>.</li><li><keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword> has emerged as the market leader with over 50% market share.</li></ul> The sales of electric two-wheelers have come crashing down just a month after<a href="https://www.businessinsider.in/business/auto/news/indias-electric-two-wheeler-industry-records-highest-ever-monthly-sales-as-fame-subsidy-ends/articleshow/109030516.cms"> recording</a> the best-ever monthly sales numbers in March 2024. This comes amid the end of the <keyword id="21004406" type="General" weightage="20" keywordseo="FAME-subsidy" source="keywords">FAME subsidy</keyword> scheme which has resulted in an<a href="https://www.businessinsider.in/business/auto/news/electric-scooters-get-a-price-hike-of-up-to-16000-as-fame-subsidy-ends/slidelist/109136771.cms"> increase in prices</a> of electric scooters. While the boost in sales in March 2024 was fueled by an expected increase in prices and push by companies to sell more scooters before the end of FY, the significant decline might be a concern for EV makers. <cmsannotation type="cmsannotation" annotationid="Ola Electric grabs over 50% market share" comment="subhead" text="Ola Electric grabs over 50% market share">Ola Electric grabs over 50% market share</cmsannotation> Bhavish Aggarwal-led Ola Electric, which did not announce a price hike despite the reduction in subsidy recorded its highest ever market share at 51%. Ola Electric sold 33,062 vehicles in April 2024, up from 21,882 scooters sold in April 2023. While this is significantly lower than the 50,545 vehicles it sold in March 2024. The company sold 3,26,428 vehicles in FY24 with a market share of 35%. <cmsannotation type="cmsannotation" annotationid="TVS Motor comes in second but takes a big hit" comment="subhead" text="TVS Motor comes in second but takes a big hit"><keyword id="19938730" type="General" weightage="20" keywordseo="TVS-Motor" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motor" meta.hostid="261" meta.entityid="TVS Motor">TVS Motor</keyword> comes in second but takes a big hit</cmsannotation> TVS Motor continued to occupy the second position with 7,653 vehicles sold in April 2024, down from 8,728 vehicles sold in April 2023. The company had increased the prices of its electric scooters by up to ₹6,000 with the end of the FAME subsidy. The company had recorded its best-ever monthly sales of 26,478 vehicles in March 2024. The company sold 1,82,933 electric two-wheelers in FY24 and recorded a market share of 20%. <cmsannotation type="cmsannotation" annotationid="Bajaj Auto takes the third position" comment="subhead" text="Bajaj Auto takes the third position"><keyword id="19897354" type="General" weightage="20" keywordseo="Bajaj-Auto" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Auto" meta.hostid="261" meta.entityid="Bajaj Auto">Bajaj Auto</keyword> takes the third position</cmsannotation> Bajaj Auto has taken over the third position from <keyword id="19938729" type="General" weightage="20" keywordseo="Ather-Energy" source="keywords" meta.keywordsubtype="org" meta.entityname="Ather Energy" meta.hostid="261" meta.entityid="Ather Energy">Ather Energy</keyword>, recording sales of 7,515 vehicles in April 2024, up from 4,014 vehicles sold in April 2023. The company had announced a price hike of up to ₹12,000 after the end of the FAME subsidy scheme. In March 2024, the company sold 17,933 scooters, taking the total number of scooters sold in FY24 to 1,06,431. <cmsannotation type="cmsannotation" annotationid="Ather Energy takes a big hit" comment="subhead" text="Ather Energy takes a big hit">Ather Energy takes a big hit</cmsannotation> Ather Energy sold 4,052 vehicles in April 2024, down from 7,746 vehicles sold in April 2023. The company’s month-on-month performance also took a hit due as it increased the prices of its scooters by up to ₹16,000. The company had sold 17,221 vehicles in March 2024, registering its best-ever monthly numbers. The company sold 1,08,870 vehicles in FY24 and recorded a 12% market share. <cmsannotation type="cmsannotation" annotationid="EMPS replaces the FAME subsidy scheme" comment="subhead" text="EMPS replaces the FAME subsidy scheme">EMPS replaces the FAME subsidy scheme</cmsannotation> The popular FAME subsidy scheme, which offered subsidies to electric vehicles to boost their adoption has come to an end. This has been replaced by the new Electric Mobility Promotion Scheme (EMPS) 2024, which was announced during the<a href="https://www.businessinsider.in/finance/news/interim-budget-2024-speech-updates-and-highlights/articleshow/107313296.cms"> interim budget</a> in February and is valid for four months from April 2024. The EMPS 2024 scheme, which kicked off on April 1, 2024, is valid till July 31, 2024. As part of the scheme, the subsidy on electric two-wheelers has been set at ₹5,000 per kilowatt-hour of battery capacity with a capping of ₹10,000 per vehicle. This is lower than what was earlier offered with the FAME scheme. SEE ALSO: <a href="https://www.businessinsider.in/sports/webstories/t20-world-cup-here-are-the-squads-announced-by-major-participating-countries-so-far/slidelist/109787165.cms">T20 World Cup: Here are the squads announced by major participating countries so far</a> <a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms">April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer</a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms">Upcoming cars and two-wheelers launching in India in May 2024</a>

Electric two-wheeler sales crater in April 2024 as prices increase amid reduced subsidies

Equity benchmark <keyword id="19896381" type="General" weightage="100" keywordseo="Nifty" source="keywords">Nifty</keyword> rose marginally to hit a fresh lifetime high of 25,052 and <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> gained over 70 points on Wednesday, helped by buying in <keyword id="19963566" type="General" weightage="20" keywordseo="IT-stocks" source="keywords">IT stocks</keyword> amid a largely positive <keyword id="20542711" type="General" weightage="20" keywordseo="global-market" source="keywords">global market</keyword>. Recent <keyword id="20072947" type="General" weightage="20" keywordseo="foreign-fund-inflows" source="keywords">foreign fund inflows</keyword> and lower global <keyword id="20024983" type="General" weightage="20" keywordseo="crude-oil-prices" source="keywords">crude oil prices</keyword> also strengthened <keyword id="22951128" type="General" weightage="20" keywordseo="investor-sentiments" source="keywords">investor sentiments</keyword>, traders said. Rising for the tenth straight session, the NSE Nifty went up by 34.60 points or 0.14 per cent to settle at a new closing high of 25,052.35. The benchmark surged 111.85 points or 0.44 per cent to hit a fresh intra-day all-time peak of 25,129.60. Extending its winning run to the seventh day in a row, the 30-share BSE Sensex climbed 73.80 points or 0.09 per cent to settle at 81,785.56. During the day, it jumped 327.5 points or 0.40 per cent to 82,039.26. Among the 30 Sensex firms, <keyword id="19951944" type="General" weightage="20" keywordseo="Bharti-Airtel" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Airtel" meta.hostid="261" meta.entityid="Bharti Airtel">Bharti Airtel</keyword>, Infosys, IndusInd Bank, Sun Pharma, Tech Mahindra, Mahindra &amp; Mahindra, Bajaj Finance and JSW Steel were the biggest gainers. Asian Paints, Maruti, Nestle, Kotak Mahindra Bank, Axis Bank and UltraTech Cement were among the laggards. In Asian markets, Seoul and Tokyo settled higher while Shanghai and Hong Kong ended lower. European markets were trading in positive territory. The US markets ended with marginal gains on Tuesday. "The <keyword id="19913381" type="General" weightage="20" keywordseo="market" source="keywords">market</keyword> has entered a consolidation phase with low volatility and this trend is likely to continue in the near-term. Falling bond yields in the US have restrained FII selling and they have even turned marginal buyers. Going by previous trends, DIIs are likely to sell if FIIs continue to buy. "This trend will keep the market within a range with a slight upward bias. This is a desirable and healthy trend, given the elevated valuations in the market," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said. Foreign Institutional Investors (FIIs) bought equities worth Rs 1,503.76 crore on Tuesday, according to exchange data. Domestic Institutional Investors (DIIs) offloaded equities worth Rs 604.08 crore. Global oil benchmark Brent crude declined 0.82 per cent to USD 78.90 a barrel. After oscillating between highs and lows, the BSE benchmark eked out a marginal gain of 13.65 points or 0.02 per cent to settle at 81,711.76 on Tuesday. The NSE Nifty ended almost flat, up 7.15 points or 0.03 per cent, at 25,017.75 -- its ninth straight session of gains.

Nifty gains marginally to hit lifetime high

<keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> closed the day in green, albeit with minimal gains. While Sensex closed the day at 79,105.88 points, up by 149.85 points, Nifty closed at 24,143.75 points, inching up by 0.02% on August 14th, 2024. <keyword id="19950203" type="General" weightage="20" keywordseo="TCS" source="keywords" meta.keywordsubtype="org" meta.entityname="TCS" meta.hostid="261" meta.entityid="TCS">TCS</keyword> (up by 2.29%), HCL Tech (up by 1.96%), Tech Mahindra (up by 1.47%), Infosys (up by 1.25%), and Mahindra and Mahindra (up by 1.16%) were amidst the day's gainers. On the other hand, Divis Labs (down by 4.03%), Hero Moto Corp (down by 3.17%), Coal India (down by 3%), UltraTech Cement (down by 2.35%) and Dr. Reddy's (down by 2.14%) were amidst the day's top laggards. Out of the 2,798 stocks <keyword id="20130612" type="General" weightage="20" keywordseo="traded" source="keywords">traded</keyword> during the day, 1,073 saw advances, while 1,644 declined. Another 81 remained unchanged. 66 stocks hit their 52-week high price during the day, while 49 stocks also hit their 52-week low prices. 88 stocks hit the upper circuit during the day, while 109 stocks remained in the lower circuit. Ad<keyword id="19989715" type="General" weightage="20" keywordseo="IT" source="keywords">it</keyword>ya Gaggar, director of Progressive Shares noted that the market's lacklustre trade ended marginally higher at 24,143.75. "Barring IT and <keyword id="21415024" type="General" weightage="20" keywordseo="Auto" source="keywords">Auto</keyword>, all other sectors ended the day in red with metal and media being the major laggards. Broader markets underperformed the frontline index as mid and small caps ended the session with a loss of over 0.50%. Nothing has changed i.e. the index remained in its well-maintained range of 23,970-24,400, awaiting a breakout on either side", he continued. Most small and mid cap indices ended the day in red, while India VIX dipped 4.40% during the day. Nifty Next 50 and Nifty 100 were the only broad market indices that closed the day in green. Amidst sectoral indices, IT inched up by over 1%, while media and metal lost over 1% each during the trade. Said Ajit Mishra – SVP, Research, Religare Broking Ltd, "The markets remained lackluster and closed flat, taking a pause after Tuesday’s decline. Following a subdued start, the Nifty traded within a narrow range and ultimately ended at the 24,143 level. Sector-wise, metal and pharma stocks were the top losers, while resilience in the IT sector helped limit the overall decline for the second consecutive session. The broader indices also slipped, losing over half a percent each". "With no major domestic triggers, participants are now looking to global markets for direction. An intermediate recovery in the US markets is providing some relief, but ongoing pressure in select heavyweight stocks across sectors is limiting the recovery. In light of the uncertain outlook, we recommend maintaining a cautious stance and adopting a hedged approach until there is more clarity on the market’s next move", continued Mishra.

Stock market closing: TCS, HCL Tech, Infosys amidst leading gainers during the day

<ul><li>On Monday, Sensex fell 616 points to close at 73,502, <keyword id="19896381" type="General" weightage="20" keywordseo="nifty" source="keywords">Nifty</keyword> fell by 160 points to 22,332.</li><li>Nifty Bank fell by 507 points and BSE Bankex shed 607 points.</li><li>Uncertainties around global interest rate cuts and geo-political tensions affected investor sentiment. </li></ul>Indian benchmark indices closed in the red on Monday, after rallying for the last two sessions. The markets opened red, but steep selling was seen at the fag-end of the trading session, as global uncertainties impacted investors’ sentiments. Sensex fell 616 points to close at 73,502, while Nifty fell by 160 points to 22,332 on Monday. In its last trading session on Thursday, Sensex had settled at a new peak of 74,119 while Nifty also closed near a record of 22,493. “Weak global cues contributed to the overall weakness as local investors cut their exposure to banking, telecom, power and realty stocks. The market is in a volatile phase due to uncertainty over global interest rate cut, geo-political tensions and sluggish growth in key economies, which is forcing investors to cash out of their investments at regular intervals,” said <keyword id="20226500" type="General" weightage="20" keywordseo="prashanth-tapse" source="keywords">Prashanth Tapse</keyword>, senior VP of research at Mehta Equities. Almost all sectoral indices closed in the red, led by banking stocks. Nifty Bank fell by 507 points and BSE Bank shed 607 points. Nifty Financial Services also fell by 143 points. <keyword id="19924230" type="General" weightage="20" keywordseo="tata-consumer" source="keywords">Tata Consumer</keyword>, Power Grid, <keyword id="19897354" type="General" weightage="20" keywordseo="bajaj-auto" source="keywords">Bajaj Auto</keyword>, <keyword id="19904884" type="General" weightage="20" keywordseo="tata" source="keywords">Tata</keyword> Steel and SBI were the top losers on Nifty. Apollo Hospital, Nestle, SBI Life, Cipla and Dr Reddy’s were the top gainers in the index. A lot of Tata group stocks closed in the red on Monday, with Tata Chemicals shedding around 10%. Tata Power and Tata Technologies also closed in the red while TCS closed flat. ‘Investors on the edge’ The US markets had closed in the red on Friday and also opened in the red on Monday. Tech-heavy index Nasdaq is down by over 1.1% as of 4 pm, and the S&amp;P 500 is down by over 0.6%. "Continued selloff in global markets due to uncertainty over rate cuts impacted the domestic market sentiment, which is currently at an overbought level. The stronger than expected US nonfarm payroll data and caution ahead of the release of US inflation data tomorrow kept investors on the edge," said <keyword id="19969359" type="General" weightage="20" keywordseo="vinod-nair" source="keywords">Vinod Nair</keyword>, Head of Research, Geojit Financial Services. Gold prices hit a fresh new high on Friday and the bullion’s prices have been rising in the futures contracts too. Gold prices on Monday rose ₹73 to ₹66,096 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. “The broader market continued its underperformance due to valuation concerns, while investors are rebalancing their portfolios to include safe haven assets like gold,” said Nair. Brent crude prices too went up marginally by 0.37% to $81.8 per barrel. (With inputs from PTI)

Monday blues: Stock markets slump as global uncertainties weigh on

Indian companies across multiple sectors have reported disappointing results in the second quarter of fiscal year 2025, notes a new JM Financials report. Consequently, their poor performance has triggered stock price corrections for affected companies. The brunt of this weaker than expected earnings was largely borne by consumer centric sectors like FMCG (fast moving consumer goods), retail, and auto, which slacked largely due to dampened urban demand. For instance, India's largest automaker, Maruti Suzuki, reported a 5% YoY decline in its total domestic passenger vehicle wholesales, largely on the back of pent-up inventory. Similarly, Honda reported a staggering 23% YoY dip in its total sales during October 2024. A recent report by Bernstein noted that around 48% of the companies listed on the NSE100 index missed their earnings estimate for Q2FY25, the highest since March 2020. Most companies have mentioned deteriorated domestic demand, urban slowing, macroeconomic risk, and margin pressures as the main reasons behind the dip. "The quarter's earnings have made investors nervous," noted the JM Financials report. The challenging environment stems from multiple factors: softening consumer demand, rising input costs, and companies' limited ability to increase prices. Moreover, this is not limited to just one quarter. Companies have been reporting weak, single-digit earnings growth for the last six consecutive quarters. Data from India Data Hub also suggests that corporate profits of listed companies plunged by as much as 3.4% during the quarter ended September 30, 2024. This is in stark contrast to the year-ago period, where they had shot up by over 40% The oil and gas sector had a difficult quarter, with refiners hit by weak margins and city gas distributors struggling with higher input costs. Financial institutions showed mixed results. While government-owned banks reported strong numbers, microfinance institutions and some private lenders faced massive difficulties with their unsecured loans. Most notable amongst this was the case of IndusInd Bank, which saw its net profits dip by 40% amidst burgeoning provisions, which climbed 87% to Rs 1,820 crore in Q2, as against Rs 974 crore reported in the year-ago period. <h2>Markets head southwards</h2>The selling trend by FPIs has dragged down the major Indian indices, the Nifty 50 and Sensex, both of which have dropped by around 8% since the beginning of this selling spree in October. According to National Securities Depository Ltd. (NSDL) data, FPIs offloaded equities worth a significant Rs 19,994 crore in just the first five trading sessions of November last week. The impact is clearly visible on Indian stock markets. Data suggests that while every sector in October closed the month in red, auto, oil and gas, and consumer durables were the most badly hit, each declining by as much as 10% during the month. Another indicator underlining the inherent weakness of the market was that the month saw only 242 stocks hit their 52-week high, significantly below the usual monthly average of 310.

India Inc. stares at an earnings dearth in Q2, FMCG, auto, and consumer durables falter

Both indices, <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> and <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> opened the day in greens. While Nifty was trading at 24,423.30 points, up by 107 points, up by 0.44%. Sensex was trading at 80,164.68 points, up by 267 points, as of 9:30 am. <keyword id="20740180" type="General" weightage="20" keywordseo="LTI-Mindtree" source="keywords" meta.keywordsubtype="org" meta.entityname="LTI Mindtree" meta.hostid="261" meta.entityid="LTI Mindtree">LTI Mindtree</keyword> took a significant lead of over 2% in early morning trade. <keyword id="19924892" type="General" weightage="20" keywordseo="Tech-Mahindra" source="keywords" meta.keywordsubtype="org" meta.entityname="Tech Mahindra" meta.hostid="261" meta.entityid="Tech Mahindra">Tech Mahindra</keyword>, Tata Steel, BPCL and <keyword id="19955371" type="General" weightage="20" keywordseo="Bajaj-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Finance" meta.hostid="261" meta.entityid="Bajaj Finance">Bajaj Finance</keyword> were top gainers in early morning trade. On the other hand, Power Grid, HDFC Life, Apollo Hospitals, Dr. Reddy and HDFC bank were lagging. <keyword id="19950207" type="General" weightage="20" keywordseo="HCL-Tech" source="keywords" meta.keywordsubtype="org" meta.entityname="HCL Tech" meta.hostid="261" meta.entityid="HCL Tech">HCL Tech</keyword> is scheduled to release its Q1FY25 results later during the day. All broad market indices opened the day in green, except for India VIX which was down by 0.48%. Nifty bank, auto, financial services, FMCG, pharma, PSU banks, private bank, healthcare and realty opened the day in red. In early trade, Nifty IT and media took a significant lead of over 1%. Mr. Aditya Gaggar Director of Progressive Shares notes that their view on the index remains the same, i.e. as long as the Index holds a level of 24,200 uptrend will remain intact and on the higher side, 24,460 will be a critical hurdle. "From the energy sector, gas stocks picked up their momentum (Petronet). Sugar stocks from the FMCG sector are gradually strengthening their uptrend (Balrampur Chini and Dalmia Sugar). The direction of the IT sector depends upon how the market participant decodes the Q1FY25 earnings of giant <keyword id="19950203" type="General" weightage="20" keywordseo="TCS" source="keywords" meta.keywordsubtype="org" meta.entityname="TCS" meta.hostid="261" meta.entityid="TCS">TCS</keyword>". "From the media segment, we are bullish on <keyword id="22381558" type="General" weightage="20" keywordseo="SunTV" source="keywords">SunTV</keyword>. Considering a strong rally in the Pharma space, we can expect a round of profit booking in the short run but the overall uptrend will remain intact. PSE stocks regained their lost spot as many of them have given a strong breakout from different patterns and we have identified some of them namely Engineers India , GMDC, MRPL, and SJVN", he said. IT giant TCS declared their Q1FY25 results. As Siddhesh Mehta, Research Analyst, SAMCO Securities highlighted, the company beat D-street estimates in terms of results. "The company reported a constant currency revenue growth of 4.4% in Q1FY25, up from 2.2% in Q4FY24. Despite the overall macroeconomic environment continuing to indicate uncertainty, with profits declining by 3.18% QoQ, all major markets displayed sequential growth. While revenue growth for India's largest IT services companies in Q1FY25 remains strong, profit and margin pressures persist", he continued. TCS opened the day in green, trading at Rs 4,018.8, up by 2.42%.

Stock market 12 July: Sensex inches up over 80k, LTI Mindtree, Tata Steel, BPCL take early lead

<ul><li><keyword id="20300508" type="General" weightage="20" keywordseo="bajaj-housing-finance" source="keywords">Bajaj Housing Finance</keyword> is expected to announce its share allotment status on Thursday, September 12.</li><li>The shares of Bajaj Housing Finance were subscribed 63.53 times.</li><li>The shares are expected to be listed on the stock exchanges on September 16.</li></ul>Pune-based Bajaj Housing Finance, a non-deposit-taking Housing Finance Company is expected to announce the allotment status of its initial public offering (IPO) on Thursday, September 12. The <keyword id="21102601" type="General" weightage="20" keywordseo="Bajaj-Housing-Finance-IPO" source="Orion">Bajaj Housing Finance IPO</keyword> opened on September 9 and closed on September 11. The price band for the IPO was ₹66 to ₹70 per share. <h2><keyword id="23091438" type="General" weightage="20" keywordseo="Bajaj-Housing-Finance-IPO-subscription" source="Orion">Bajaj Housing Finance IPO subscription</keyword></h2>On its last day, the Bajaj Housing Finance IPO was subscribed 63.53 times, receiving bids for 4622.63 crore equity shares against 72.76 crore shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 209.36 times, the non-institutional investor's portion was subscribed 41.42 times. The retail portion witnessed decent participation and was subscribed 6.93 times. The employee portion was subscribed 1.98 times. The shareholder portion was subscribed 17.42 times. <h2>Bajaj Housing Finance grey market premium</h2>The shares of Bajaj Housing Finance are currently commanding a grey market premium (GMP) of ₹65 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <h2>How to check Bajaj Housing Finance’s IPO allotment status</h2>You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="23069233" type="General" weightage="100" keywordseo="Bajaj-Housing-Finance-IPO-allotment" source="Orion">Bajaj Housing Finance IPO allotment</keyword> status, visit the registrar’s website<a href="https://kosmic.kfintech.com/ipostatus/"> here</a>. </li><li>Click on ‘Company Selection’ and then select ‘Bajaj Housing Finance’. </li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC. </li><li>Click on ‘Search’. </li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Bajaj Housing Finance IPO allotment status on the BSE and NSE websites. To check the allotment status on the BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>. </li><li>On the website, click on 'Equity' and then select ‘Bajaj Housing Finance’ from the dropdown menu. </li><li>Now, enter your application number and PAN. </li><li>Click on 'Search'. </li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <h2>Bajaj Housing Finance listing date</h2>The shares of Bajaj Housing Finance will be listed on the stock exchanges on September 16. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/top-10-selling-cars-in-india-in-august-2024/slidelist/113248627.cms">Top 10 selling cars in India in August 2024</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a> <a href="https://www.businessinsider.in/business/auto/news/ather-energy-looks-to-raise-3100-crore-files-ipo-papers-with-sebi/articleshow/113214971.cms">Ather Energy looks to raise ₹3,100 crore, files IPO papers with SEBI</a>

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