BUSINESS
Economic Optimism Doubles, but Tech and Climate Pressures Accelerate, Reveals PwC CEO Survey
Despite ongoing geopolitical conflicts, the percentage of CEOs feeling their companies are highly or extremely exposed to geopolitical conflict risk dropped to 18%, down 7 percentage points.
Nifty Surges, Now Three Times Higher Than the Covid Low of 7,511 in March 2020
While geopolitical developments often serve as triggers for market corrections, recent events like the Israel-Gaza war and ongoing skirmishes in the Red Sea have not significantly impacted crude prices or markets.
India's Merchandise Exports Increase by 1% in December 2023 Amid Global Economic Slowdown
During December 2023, the overall trade deficit narrowed to $5.17 billion from $7.75 billion in December 2022.
All Kinds of Preparations on For Swiggy's IPO: Co-founder
For its IPO process, Swiggy is reportedly working with seven investment banks, including Kotak Mahindra Capital, Citi, JPMorgan, Bofa Securities, Jefferies, and others. The move comes after Swiggy's competitor, Zomato, went public in 2021.
'Uncomfortable' Musk Seeks More Voting Control at Tesla to Advance AI Initiatives
Musk, who currently holds approximately a 13.4% stake in Tesla, sold his shares to acquire X for $44 billion in October 2022.
Sensex and Nifty Hit All-Time Highs, Reflecting Strong Market Performance
Mandar Bhojane, Research Analyst at Choice Broking, noted that both Sensex and Nifty reached new highs of 73,322 and 22,104, respectively, driven by a rally in IT stocks, fueled by December quarter results exceeding Street estimates.
Wholesale Price Inflation Hits 9-Month High in December
The positive inflation rate in December is attributed to increases in prices of food articles, machinery & equipment, other manufacturing, other transport equipment, and computer, electronics & optical products, according to the Commerce ministry. Wholesale food prices saw a 9.38% increase, while fuel group prices declined by (-) 2.14%.
Motilal Oswal Advocates Buying HCL Tech, Maintains Neutral Position on Wipro
In a report, Motilal Oswal highlighted HCL Technologies' robust performance in Q3FY24, with a 6% quarter-on-quarter (QoQ) revenue growth in constant currency (CC) terms. The growth was attributed to seasonal gains in HCL Software (P&P), which increased by 34% QoQ.
Go First Extends Deadline for Financial Bids and EOI Submissions in Airline Acquisition Process Until January 19
Notable entities expressing interest in acquiring Go First include Sky One, an aviation company based in Sharjah, US-based NS Aviation, and SpiceJet. Sky One acknowledged its interest but refrained from providing detailed comments at this early stage.
Nifty Surpasses 22K Points Milestone, Brokerages Urge Caution in Investment Approach
Pranav Haridasan, MD and CEO at Axis Securities, highlighted that the recent surge in the IT sector leading the Nifty rally this month, particularly in the last two trading sessions, has been fueled by positive results and attractive valuations. However, he urged caution, noting that sharp rallies may not be sustainable.
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