Chequered Flag Jan. 2: Headlines At A Glance

The latest headlines from January 2 cover a variety of significant stories, including developments from major companies such as M&M and Tata Motors, changes in Tesla’s stock value, regulatory news concerning Blinkit and SEBI, and much more.

Indices End Higher

The stock market saw positive movement today, with the NSE Nifty 50 closing up by 445.75 points or 1.88%, reaching 24,188.65. Similarly, the BSE Sensex gained 1,436.30 points or 1.83%, to end the day at 79,943.71.

M&M, Tata Motors Win Incentives

In a notable achievement, Mahindra & Mahindra and Tata Motors have become the first automakers in India to receive production incentives for their efforts in manufacturing electric vehicles. This development is expected to boost the electric vehicle sector significantly.

Working Group To Review WPI

The Union Government has taken a step towards economic reform by forming a panel under NITI Aayog. This panel is tasked with revising the base year for the Wholesale Price Index (WPI) from 2011-12 to 2022-23.

Regulator Defers Capping Maximum Lenders Per Borrower

In a recent industry update, the MicroFinance Industry Network has postponed the implementation of a cap on the number of lenders available to a single borrower. This cap was originally set at three and will now be deferred until at least April 1, 2024.

SEBI Expands Scope Of Investigation Against Zee Entertainment

The Securities and Exchange Board of India (SEBI) has increased its scrutiny of Zee Entertainment Enterprises, along with its CEO Punit Goenka and Chairman Emeritus Subhash Chandra. This expansion of the investigation suggests deeper concerns regarding the company's operations.

Tesla Annual EV Sales Drop

In a significant development, Tesla Inc., led by Elon Musk, reported a decline in annual vehicle sales for the first time in over a decade. This drop occurred despite a strong push at the end of the year to boost sales numbers.

Blinkit's Ambulance Service

Blinkit has recently announced the launch of a quick-response ambulance service in Gurugram. This service aims to provide reliable emergency medical assistance, addressing a key need in the region.

ITC Hotel Shares Likely To Trade In Rs 150–175 Range

The recent demerger of ITC Hotels from its parent company ITC has taken effect as of January 1, 2025. This move is expected to pave the way for its trading debut on the stock exchanges, with shares likely to be priced in the range of Rs 150 to Rs 175.

Stocks, Markets, Companies