Monday, November 25
Stock market rally today: BSE Sensex and Nifty, the Indian benchmark equity indices, surged in trade today, closing in green. While BSE Sensex surged over 600 points, Nifty50 crossed the 22,100 mark. BSE Sensex closed the day at 72,996.31, up over 525 points or 0.73%, very close to the 73,000 mark.
Supreme Court ruled discounts on SIM cards won't trigger withholding tax. Telecom operators not liable without commission payments. CBDT should issue clear instructions to avoid future disputes.
Maruti Suzuki India invests Rs 1.99 crore in Amlgo Labs Private Limited, securing a 6.44% stake. This marks the second investment by Maruti Suzuki in tech startups, following its earlier investment in AI. The collaboration aims to enhance data analytics, cloud engineering, ML, and AI in automotive innovations.
As of March 6, the Modi government had allocated Rs 6212.03 crore to regional rural banks as part of the recapitalization initiative. The performance of RRBs has improved significantly, with a consolidated CRAR (Capital to Risk-weighted Assets Ratio) at an all-time high of 13.83 per cent as of December 31, 2023.
Reddit's successful IPO valued close to USD 9 billion on the New York Stock Exchange, priced at USD 34/share, debuting at USD 47. The price climber higher and soared over 55 per cent around 1: 20 pm ET. Supported by prominent figures like Sam Altman, Peter Thiel, and Snoop Dogg. Potential volatility expected.
Adani Total Energies E-Mobility Limited and Mahindra and Mahindra collaborate to enhance EV adoption nationwide. The partnership focuses on promoting EV technology, advancing charging infrastructure, and broadening the EV ecosystem for seamless electric vehicle integration.
New Zealand has entered its second recession in 18 months, with the latest wave of GDP numbers confirming that the economy dropped in the fourth quarter of 2023. stats NZ, New Zealand's official statistics office, said on Thursday that the country's economy contracted by 0.1% in the quarter ending in December, and 0.7% per capita.
While Sensex jumped 595.02 points to 72,696.71 in early trade, Nifty climbed 181.85 points to 22,020.95. Following the Federal Reserve's decision to keep interest rates steady, which was in line with expectations, US stocks ended at record highs on Wednesday. Moreover, the Fed remained consistent with its plan for three interest rate reductions this year.
