Newsletter | Jefferies downgrades Maruti Suzuki; Gold hits all-time high; Bomb threats cross 500-mark & more
#TopNews
Petrol, and diesel prices to reduce in far-flung areas due to intra-state freight rationalisation by OMCs, says Centre
Union Oil Minister Hardeep Singh Puri on Tuesday (October 29, 2024) welcomed the decision by state-owned oil marketing companies (OMCs) to increase dealer commissions for petrol pump owners. Additionally, Puri lauded the intra-state freight rationalisation, which he said would “benefit consumers located at remote locations (far from petrol and diesel depots of oil marketing companies), resulting in a decrease in petrol and diesel prices in several parts of the country.”
Jefferies downgrades Maruti Suzuki; Gold rates hit all-time high; Bomb threats cross 500-mark
Maruti Suzuki shares downgraded by Jefferies, analysts cut targets after Q2 miss
Shares of Maruti Suzuki India Ltd. have been downgraded by brokerage firm Jefferies to “hold” from its earlier recommendation of “buy.” Other analysts tracking the stock may have maintained their respective recommendations but have cut their price targets on India’s largest passenger car maker as well.
Jefferies has cut its price target on Maruti to ₹10,900 from ₹15,200 earlier, which once used to be the highest target on the street for Maruti.
Swiggy fixes the price band for its ₹11,327 crore IPO — details here
SoftBank-backed Swiggy Ltd. has announced the price band for its Initial Public Offering (IPO), which opens for subscription on November 6, 2024.
The company has fixed the price band between ₹371 to ₹390 per equity share. Investors can bid for a minimum of 38 shares in one lot and then in multiples of 38 thereof.
At the upper end of the price band, the company intends to raise ₹11,327.43 crore, which includes a fresh issue of ₹4,499 crore, while existing shareholders will sell up to 17.5 crore shares.
#Commodities
Gold rates hit all-time high amid US election uncertainty: What this means for Indian investors
Global gold prices soared to a new high on Wednesday (October 30) as investor caution ahead of the US election buoyed demand for the precious metal. Spot gold increased 0.1% to $2,778.27 per ounce, peaking at a record $2,778.79 during early trading.
This historic high reflects rising bullish sentiment fueled by political and economic uncertainties, with analysts pointing to a firm upward trend in bullion as US economic data unfolds.
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Firecracker ban in India: These states impose strict regulations to tackle air pollution during Diwali
Several states have enforced strict regulations ahead of Diwali festivities to tackle rising pollution levels. The states have issued regulations on firecracker usage which are aimed at reducing air quality deterioration during this period. While some states have imposed a complete ban on firecrackers, others have put a tining restriction.
Let’s take a look at regulations issued by states
#DailyData
#TechTalks
Donald Trump’s Truth Social surpasses Elon Musk’s X in valuation, as shares surge
Donald Trump’s social media platform, Truth Social, has surpassed Elon Musk’s X in value, thanks to the recent surge in shares of the former president’s company. The Trump Media & Technology Group (TMTG) is now valued at over £10 billion, following an over fourfold increase in its shares since late September. In contrast, X Holdings is estimated to be worth around £9.4 billion, based on the latest valuation assigned by Fidelity to its stake in the company formerly known as Twitter, Associated Press reported on October 30.
TMTG’s stock tends to correlate with Trump’s chances of re-election rather than its own profit potential, and investors have recently perceived an uptick in his prospects for reclaiming the presidency. On October 29, the stock rose nearly 9%, closing at £51.51, following a 21.6% gain a day earlier. The stock’s volatility led to multiple brief trading halts throughout the morning. Just last month, it had fallen to approximately £12.
iOS 18.1 Update: How to enable Apple Intelligence and what’s new
Apple has rolled out iOS 18.1, which brings users the first set of Apple Intelligence features with a smarter Siri and several AI updates.
While iOS 18.1 is available for everyone, Apple Intelligence, as a feature, will only run on the iPhone 15 Pro models and the latest iPhone 16 models.
Once the update is installed, the often bumbling Siri is supposed to become more conversational, versatile and colourful, with a glowing light that will rotate around the iPhone’s screen as it responds to requests.
#AviationNews
Over 100 flights get bomb threats in a single day, total hoaxes exceed 500 in 16 days
Indian airlines have faced a surge in bomb threats, with over 100 domestic and international flights targeted on Tuesday alone, according to sources. This comes amid a spate of threats in recent weeks, totalling more than 510 across various airlines within the past 16 days. Officials say the threats, mostly originating from social media, have all turned out to be hoaxes so far. Air India, IndiGo, and Vistara are among the primary targets
#CNBCTV18Originals
We uncover the highs & lows of Jet Airways in our exclusive documentary, The Climb & Crash. ????
Join us on CNBC-TV18 as former executives share the untold story of ambition????, missteps, and the dramatic fall of a once-iconic airline.
#USElections
US Presidential Election 2024 | With a week left, Trump & Harris are locked in a dead heat
The 2024 US presidential election is just a week away, with many political pundits calling it possibly the most consequential election in American history — the liberals and moderates paint the former president as the biggest threat to US democracy, while the conservatives and far-right label Kamala Harris as the “antichrist.”
As the US approaches Election Day, both Trump and Harris are making their final appeals to voters. With the stakes higher than ever, the 2024 presidential election promises to be a defining moment in American history. As voters prepare to cast their ballots, the question remains: Who will emerge victorious in this closely contested race?
We’ll see you tomorrow with another edition of 11:11
