Market Movers: EV Innovations, Gold Surges, and IPO Highlights
Your daily dose of financial news in a minute plus expert advisor views.
🗞️ Maruti Suzuki Unveils ‘e For Me’: A Vision for India’s Electric Future
Maruti Suzuki introduces its 'e For Me' electric mobility strategy, focusing on customer-centric EVs and robust charging infrastructure. This initiative starts with the e VITARA SUV, showcasing India's push towards sustainable electric mobility.
💬 Expert Opinion: Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, said, "Our 'e For Me' vision represents a defining moment in India's electric mobility transformation."
🗞️ Gold Climbs ₹700 to ₹79,700 per 10 gm; Silver Jumps ₹1,300
Gold prices surged ₹700, touching ₹79,700 per 10 grams in the national capital, driven by rupee depreciation and increased buying.
💬 Expert Opinion: Saumil Gandhi, Senior Analyst at HDFC Securities, noted, "Gold is hovering around USD 2,635-level amid mixed cues. Uncertainty around US policies attracts haven flows, supporting precious metals."
🗞️ RBI Adds 8 Tons Gold to Reserves in November 2024
In November 2024, global central banks added 53 tonnes of gold to reserves, with the Reserve Bank of India (RBI) contributing 8 tonnes, bringing its yearly total to 73 tonnes.
💬 Expert Opinion: The World Gold Council commented, "Central banks continued to play a leading role in gold demand, with a net 53 tonnes added in November alone."
🗞️ CarDekho Eyes $1 Billion Revenue in Next 3 Years; To Over-Invest in AI
CarDekho Group aims for $1 billion revenue by leveraging AI and pursuing acquisitions in the next three years.
💬 Expert Opinion: Neelesh Talathi, Group CFO, said, "Looking ahead, I envision CarDekho exceeding $1 billion in revenue while achieving mid-teens adjusted EBITDA margins."
🗞️ Standard Glass Lining IPO: Day 2 Subscription Status, GMP, and Details
Standard Glass Lining IPO offers shares priced at ₹133-₹140 each, aiming to raise ₹410.05 crore.
💬 Expert Opinion: Mohit Gulati, CIO and managing partner of ITI Growth Opportunities, noted, "When comparing Standard Glass Lining IPO to Quadrant Future Tek and Capital Infra Trust IPOs, the differentiation lies in market readiness and sectoral outlook. Standard Glass is appealing due to its niche technological applications."
🗞️ Parmeshwar Metal IPO: ₹25 Cr SME Issue Draws ₹10,000 Cr Bids
Gandhinagar-based Parmeshwar Metal IPO shares are priced between ₹57-₹61 each, aiming to raise ₹24.74 crore.
💬 Expert Opinion: Mohit Gulati, CIO and managing partner of ITI Growth Opportunities, highlighted, "While Parmeshwar Metal’s SME offering sees robust demand, aligning its strategy with larger counterparts like Quadrant Future Tek will be crucial for scaling effectively in the coming years."