Hedge funds that had short positions against Tesla between election day and Friday’s close took an on-paper hit of at least $5.2 billion, according to Bloomberg calculations based on data compiled by S3 Partners.
Posts in category Economic Times
LIC drags down life insurers’ new business by 42% in Oct (12-11-2024)
This decline comes in the first month under new surrender value regulations effective October 1, with the updated rules creating product gaps and earlier sales push and festivals impacting demand.
Asian Paints loses lustre for investors, too (12-11-2024)
Asian Paints shares closed at ₹2,542.65 – the lowest closing since April 30, 2021, with concerns over profitability amid rising competition in the sector causing investors to make a dash for the exit door.
Stocks in news: Hyundai, Nykaa, Hindalco, NMDC, Britannia, IndiGo (12-11-2024)
The Board of NMDC has approved a bonus issue of equity shares in the proportion of 2:1, which means for every one share investors hold in the company, they will get two additional shares.
Pre-market action: Here’s the trade setup for today’s session (12-11-2024)
Having declined from the upper range recently, Nifty is expected to witness an upside bounce from near the lower range of 23,800 levels in the short term. Immediate resistance to be watched around 24,300, said Nagaraj Shetti of HDFC Securities.
Niva Bupa Health IPO subscribed 1.8x at close (12-11-2024)
The non-institutional investors or HNI category was subscribed 0.68 times. The public issue comprised a fresh issue of ₹800 crore and an offer for sale of ₹1,400 crore by promoter Bupa Singapore Holdings and Fettle Tone LLP.
How can I trade cryptocurrencies in India (12-11-2024)
All crypto exchanges in India are required to be registered with the FIU (Financial Intelligence Unit- India). You’ll be required to do the KYC (Know Your Customer) by the an Aadhar Card and PAN card to the platform.
Bitcoin zooms past $84,000, likely to make higher highs (12-11-2024)
Bitcoin prices have soared by around 127% in the past year from $36,000 levels. Dow Jones industrial Average index of the US and India’s benchmark Nifty 50 have gone up 30.3% and 11.11%, respectively, during this period. The virtual currency was at $69,373.7 on the day of voting in the US, also the day before Trump claimed victory. It has surged about $14,600 since then.
Goldman Sachs look to join hands with Bhartias of Jubilant for HCCB stake buy, to finance upto Rs 3500 cr (11-11-2024)
The Bhartia family and Goldman Sachs are joining forces for a significant deal. They are planning to acquire a large stake in HCCB, the bottling arm of Coca-Cola in India. Goldman Sachs will provide substantial financial backing for this venture. The deal involves a planned future listing of HCCB, allowing Goldman Sachs to exit strategically. This move mirrors PepsiCo’s successful strategy with Varun Beverages.
Defaults coming back to bite, banks rein in growth of unsecured credit (11-11-2024)
Several lenders said that they now prefer offering loans to customers with credit scores of more than 750 from a cap of 720 seen prior to the onset of stress. Banks are also keeping a very close watch on days past due (DPD), where collection machinery gets triggered at day zero DPD.