Hero Moto Corp had pretty good numbers today. The company said it sold 14 lakh two-wheeler units, have their lowest ever post-festive inventory because of good sales, their vehicle stock at dealerships are less than four weeks due to the robust festive season. The festivities also brought about increased customer interest in their Destini and Pleasure scooters. Hero Moto Corp is very strong normally in North-Central India, they made market share gains of about 500 bps in October, some new launches which have helped their bad segments due to Covid-19.
Adani Gas, a city-wide gas distribution showing good operational numbers compared to last year, hit a new record high of stocks as it surges to a whopping 40%. Earlier in November, they had announced a well thought up collaboration with Italy’s Snam, for the survey of the hydrogen value chain in India and certain global markets, not excluding the development of biogas and other gases. Adani Gas has stated that they have a positive outlook for their stock on a long term basis as it is built to benefit from India’s growing economy.
With a bit of pressure on bank stocks, Nifty Bank’s constant gains streak ends. Benchmark NSE Nifty50 index was down 15.45 points at 12922.8.State Bank of India down a bit today.
Morgan Stanley awarded Tesla Inc. a huge rating score for the first time in over three years. The stock increased to 8.2% earlier this week after it was selected for admission to the S&P 500 Index and has acquired almost 500% this year.
Saudi Arabia comes again confidently with their wealth as they turn it homeward. The Public Investment Fund PIF which was given 40 billion earlier this year in global stocks has been given the same funds to boost their domestic economy next year and also in the year 2022. A number of the local investments may be funded by liquidating already existing assets. These funds are intended to play a major role in the country’s underdeveloped industries like tourism to increase diversity and not rely too much on oil.
European markets on a scare as more places shut down due to Covid fears. Different authorities are moving to reinstitute a portion of the stay-at-home requests, curfews, and public security measures, closing down unnecessary organizations for a small bunch of cities.
Global stocks eased for the third day straight and oil fell on Thursday following for the time being shortcoming in Asia and Wall Street as broadening COVID-19 limitations burdened market feeling.
Positive news about potential antibodies had helped push the MSCI World Index to a record high before the week, just to see speculators pullback as a large group of nations declared record contamination rates and harder lockdowns.
Despite the value market alert, gold traders kept on taking a more extended view, wagering the COVID-19 immunizations would convert into a faster financial recuperation, sending the yellow metal to a one-week low.
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