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The Economic Times
Foundation stone laid for Michelin India's tyre plant in Tamil Nadu
Michelin has laid the foundation stone for a new manufacturing facility in Tiruvallur district, Tamil Nadu. The plant will be expanded with an investment of Rs 563.67 crore to produce passenger car tyres. Minister for Industries TRB Rajaa highlighted that this decision reflects Michelin's trust in the state and its government under Chief Minister M K Stalin.
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Sat, Sep 21, 2024
Business Standard
Dozens of stocks added to FTSE indexes post-rebalancing exercise
Kotak Mahindra Bank, ICICI Bank, and Tata Technologies saw changes in their weightage in the FTSE All-World Index, which rose 1.8, 3.8, and 5.1 per cent, respectively
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Fri, Sep 20, 2024
CNBC TV18
M&M stock gains the most in 3 months, Group reclaims ₹6 lakh crore in market cap
Among the group companies, shares of Mahindra and Mahindra have rallied as much as 71% so far in 2024. This was followed by Tech Mahindra, Mahindra Logistics and Swaraj Engines with gains ranging from 27% to 36%.
CNBC TV18
Explained: Why shares of Escorts and M&M surged on Friday
Analysts report a significant rise in tractor inquiries, indicating strong potential for these companies to outperform the broader industry in FY25.
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Fri, Sep 20, 2024
Business Standard
Axis Capital to explore legal remedies against Sebi's ban on debt segment
Axis Capital on Friday said it is exploring legal remedies against markets regulator Sebi's order restraining the firm from taking up new assignments as a merchant banker for the debt segment. In a statement, the company clarified that Sebi has not imposed any other restrictions on Axis Capital and it will continue to operate all other business activities in the ordinary course in equity capital markets, infrastructure investment trusts (InvITs), real estate investment trust (REITs), M&A, private equity and institutional equities domain. On Thursday, the Securities and Exchange Board of India (Sebi), in an interim ruling, prohibited Axis Capital from taking up any new assignments in the capacity of a merchant banker, arranger or underwriter for any issue or offer for sale of securities in the debt segment. This restriction will remain in place until further orders. "ACL (Axis Capital Ltd) provided guarantee/indemnity towards redemption of NCDs (non-convertible debentures) in the ..
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Fri, Sep 20, 2024
Business Standard
Mobility sect in Asian mkt to absorb $1.3 trn in green fund by 2030: Report
The mobility sector in emerging markets of South and Southeast Asia is growing so rapidly that it could absorb up to USD 1.3 trillion in green capital by 2030, mirroring China's phenomenal electric vehicle (EV) growth, according to a report. The Powering an affordable EV revolution in emerging Asia report, released on Friday -- ahead of the Climate Week NYC by investors LeapFrog Investments and Temasek alongside electric mobility companies Mahindra Last Mile Mobility Limited and Battery Smart -- showed affordable entry points for electric mobility across the low-income markets of emerging Asia. An analysis of the lifetime cost of owning an electric vehicle versus fossil-fuel powered vehicles highlighted how electric scooters and electric three-wheelers have hit price tipping points across the region, spiking demand for green mobility even amongst first-time vehicle buyers. Case studies from Mahindra Last Mile Mobility Limited and Battery Smart also found that manufacturing and ...
The Economic Times
Infosys to invest Rs 17 crore in IIT M-incubated spacetech startup GalaxEye
The cash investment will involve Infosys picking up a minority stake, less than 20%, as part of the series A round to pick up equity and compulsory convertible preference shares.
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Thu, Sep 19, 2024
Mint
Wall Street today: US stocks jump after Fed rate cut, Big Tech shares rally
As of 10 a.m. Eastern time, the Dow Jones was up 1.2 per cent, the Nasdaq Composite was 2.2 per cent higher, and the S&P 500 was 1.5 per cent higher
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Thu, Sep 19, 2024
Mint
JM Financial explains how US Fed’s 50 bps rate cut will impact the IT sector
The US Federal Reserve's 50 basis points rate cut is expected to have a gradual impact on the IT sector, with companies like Tech Mahindra positioned to benefit from reduced interest burdens. JM Financial cautions against immediate spending boosts due to ongoing economic uncertainties.
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Thu, Sep 19, 2024
Mint
Wall Street today: US stocks fall ahead of expected rate cut by Fed
At 12:04 p.m., the Dow Jones fell 0.24 per cent, the S&P 500 lost 0.27 per cent, the Nasdaq lost 0.39 per cent
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Wed, Sep 18, 2024
The Economic Times
Stock market update: Stocks that hit 52-week lows on NSE in today's trade
TCS, HCL Tech, Infosys, Tech Mahindra and Wipro were among the top losers on NSE in today's trade.
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Wed, Sep 18, 2024
The Economic Times
ICICI Bank shares hit record high, m-cap tops Rs 9 lakh crore mark
ICICI Bank has crossed the Rs 9 lakh crore market capitalization mark for the first time, reaching a new all-time high on the BSE. The bank's shares have surged nearly 30% this year. Anticipation of an interest rate cut in the US Fed meeting is seen as beneficial for banks and NBFCs.
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Wed, Sep 18, 2024
Business Standard
S.M. Gold Ltd leads gainers in 'B' group
Gautam Gems Ltd, Menon Bearings Ltd, Take Solutions Ltd and MRC Agrotech Ltd are among the other gainers in the BSE's 'B' group today, 18 September 2024.
The Economic Times
Stock market update: Stocks that hit 52-week lows on NSE
Tech Mahindra, Wipro, Infosys, LTIMindtree and TCS were among the top losers on NSE.
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Wed, Sep 18, 2024
The Economic Times
Bet on these 5 NBFCs as highly-anticipated rate cuts promise windfall for investors
With interest rate cuts expected this year, non-banking financial companies (NBFCs) are set to benefit significantly. Analysts highlight the potential for growth in NBFC assets under management, especially in consumer finance and gold-based lending. Stocks like Bajaj Finance, M&M Financial Services, and Shriram Finance are recommended for investment due to their strong asset quality and favorable loan compositions.
The Economic Times
Stock Radar: Record high in sight for M&M Finance; time to buy?
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Wed, Sep 18, 2024
Business Line
Redcliffe Labs raises $42 m to strengthen pan-India diagnostic network
This new funds will be deployed to fuel Redcliffe’s expansion plans, focusing on deepening its presence in Tier II and III cities across India.
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Tue, Sep 17, 2024
The Economic Times
Mphasis appoints Ajay Arya to head M&A
“Ajay will be based in New York and lead the entire process, including strategy, evaluation, deal sourcing, negotiation, diligence management and post-merger integration,” the company said.
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Tue, Sep 17, 2024
Mint
Wall Street today: US stocks gain after retail sales data, Federal Reserve in focus
At 09:49 a.m. ET, the Dow Jones rose 0.19 per cent, the S&P 500 gained 0.38 per cent, the Nasdaq gained 0.72 per cent
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Tue, Sep 17, 2024
Business Line
Hyperlocal news platform Way2News raises $14 m led by WestBridge Capital
The fresh infusion of capital will be deployed for scaling its operations, enhancing technology and to strengthen presence in existing markets
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Tue, Sep 17, 2024
The Economic Times
Billionaire Kotak’s unit to launch its first private credit fund to tap a booming market
Kotak Mahindra Asset Management plans to launch its first private credit fund, aiming to raise around 10 billion rupees. This move follows other firms like Nippon Life India and ICICI Prudential entering the direct lending market. The fund will focus on performing credit and is expected to launch by December after regulatory approvals.
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Tue, Sep 17, 2024
Business Standard
Divi's Lab, AEL, M&M among top movers & shakers in FY25; trading guide here
Among existing gainers, Divi's Lab and Shriram Finance seem poised for further gains, whereas losers IndusInd Bank and Nestle too look promising on technical charts; check key levels.
Business Standard
S.M. Gold Ltd leads gainers in 'B' group
Mallcom (India) Ltd, Ecos (India) Mobility & Hospitality Ltd, Modison Ltd and Neogen Chemicals Ltd are among the other gainers in the BSE's 'B' group today, 17 September 2024.
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Tue, Sep 17, 2024
The Economic Times
Buy Kotak Mahindra Bank, target price Rs 2050: Anand Rathi
Kotak Mahindra Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2023.
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Tue, Sep 17, 2024
Business Standard
India becomes top source of vehicle imports for South Africa's auto sector
India has become the South African automotive industry's top country of origin for vehicle imports since 2013, the Automotive Business Council says in its BRICS+ Research Report 2024. This was because India has been established by various brands as the global hub for small and entry-level vehicles which comprise the bulk of sales in the domestic market, the report said. Tata and Mahindra have firmly established their automotive products in South Africa. Mahindra executives have even repeatedly reaffirmed that South Africa is their second home outside India because of major investments, including a production line in Durban. China and India have consistently featured as two of the South African automotive industry's top 10 trading partners since 2010, mainly due to the increasing level of automotive imports. More recent entrant China has consolidated its position as the second largest country of origin for vehicle imports since 2022 as financially strapped consumers gravitated towar
Business Standard
Stocks To Watch: M&M, LIC, Adani Wilmar, Trent, Vedanta
Stocks To Watch: Adani Enterprises and Wilmar International plan to sell a 13 per cent stake in their listed consumer joint venture, Adani Wilmar, to meet Indian shareholding norms.
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Tue, Sep 17, 2024
The Economic Times
M&M looks to drive into South East Asia market, ramp up in South Africa
Mahindra & Mahindra, holding a 51% share in India's pick-up truck market, plans to introduce its Veero range in Southeast Asia and expand in South Africa. Initially focusing on the domestic market, the Veero targets intracity applications and competes with Tata Motors' Intra and Ashok Leyland's Dost models.
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Mon, Sep 16, 2024
Business Standard
M&M eyes sub-3.5 tonne SCV market with Veero launch on multi-fuel platform
Priced at Rs 7.99 lakh for the entry-level product, M&M launched the diesel and CNG variants, and an electric version will come in the future
Mint
Wall Street today: S&P 500, Nasdaq falls, Dow Jones rises, Fed policy in focus
At 09:50 a.m. the Dow Jones rose 0.63 per cent, the S&P 500 lost 0.02 per cent, the Nasdaq shed 0.68 per cent
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Mon, Sep 16, 2024
Business Standard
Mahindra expands LCV range with product based on multi-energy platform
Mahindra & Mahindra on Monday expanded its light commercial vehicle (LCV) range with a new product range based on an all new platform developed at an initial investment of Rs 900 crore. The company has introduced "Veero" light commercial vehicle in the less than 3.5 tonne range with both diesel and CNG trims, with price starting at Rs 7.99 lakh (ex-showroom). An electric version of the LCV would be introduced at a later stage. In an interaction with PTI, Mahindra & Mahindra (M&M) President Automotive Division Veejay Nakra said the model will help the company further strengthen its leadership in the LCV (less than 3.5 tonne) segment. The product, with multiple fuel options and payloads, will be useful for various applications, he added. "We have a market share of around 51 per cent in the less than 3.5 tonne LCV segment... now this range comes in 2-3.5 tonne segment where we have a market share of 63 per cent. So it will help us further strengthen market share beyond 63 per
The Economic Times
Mahindra expands LCV range with product based on multi-energy platform
Mahindra & Mahindra has launched the Veero light commercial vehicle in the sub-3.5 tonne category, with diesel and CNG options starting at Rs 7.99 lakh. An electric version will follow. The new range aims to strengthen M&M's market leadership, addressing diverse business needs with multiple fuel options and payloads.