Elon Musk's net worth surged by $20.9 billion following Donald Trump's U.S. presidential election victory. Musk's Tesla holdings saw significant gains as investors anticipated favorable policies under a Trump administration, including potential challenges for smaller electric vehicle competitors and tariffs on Chinese imports. Other tech billionaires, including Jeff Bezos and Larry Ellison, also experienced wealth increases.
Waaree Energies, India's largest solar panel maker, saw its shares dip slightly despite securing a major order. This follows a stellar week for the company, which recently went public. The IPO was a resounding success, attracting record bids and pushing the company's value over Rs 1 lakh crore.
The cryptocurrency industry heavily invested $135 million in the recent U.S. elections, aiming to elect pro-crypto candidates. Their efforts proved successful, with a significant number of endorsed candidates, including Bernie Moreno who defeated a prominent crypto-skeptic senator, securing victories.
Apollo Hospitals' shares reached a record high after the company announced a 63% surge in Q2FY25 net profit, hitting Rs 379 crore. This impressive performance was fueled by a robust 14% growth in their hospital business revenue, reaching Rs 2,903 crore, and a significant rise in patient inflow, pushing occupancy to 73%.
While we have been lulled into believing that markets should not be volatilebased on the experience of the last few yearsvolatility is an inherent characteristic of the markets. That said, the volatility was concentrated in October, with broader indices down by around 7% or so.
Power Grid Corporation reported a consolidated net profit of Rs 3,793 crore in the September quarter, remaining unchanged from the previous year. Revenue remained stagnant at Rs 11,278 crore. Despite the flat growth, the company announced an interim dividend of Rs 4.
Niva Bupa Healthcare has announced its initial public offering (IPO), aiming to raise Rs 800 crore. The IPO, open for subscription until November 11, includes a fresh issue and an offer for sale by existing shareholders. The company plans to use the proceeds to strengthen its capital base and support future growth.
Indian stock markets surged over 1% on Wednesday, propelled by Donald Trump's US election victory. Analyst Priyank Upadhyay recommends buying opportunities in Tata Steel and Apollo Hospitals, citing technical indicators suggesting upward momentum. However, he advises a cautious stance on Delta Corp until a stronger bullish signal emerges.
The second-quarter earnings season is in full swing, with 166 companies set to release their July-September 2024 results. Key players like M&M and Trent are anticipated to post robust revenue growth, driven by strong performance in their respective sectors. While M&M's profits are projected to remain steady, Trent's bottom line is expected to see significant improvement.
Four companies have received approval from SEBI for their IPOs. These companies are Rubicon Research, Sai Life Sciences, Sanathan Textiles and Metalman Auto. The IPOs will consist of fresh issues and offers for sale. The companies will raise funds from the public market.
