Bajaj Auto has clarified that there has been no price change for 72% of its Freedom motorcycle portfolio since launch, despite a recent brokerage report suggesting otherwise. The company confirmed a Rs 5,000 price cut on the entry-level variant, which represents 13% of sales. As of November, 67,000 units of the Freedom motorcycle have been dispatched to dealers, with inventory levels deemed normal for distribution.
The ASX 200 rose 13 points (0.16%) to 8476, buoyed by record highs on Wall Street and expectations of earlier interest rate cuts from the RBA. Bitcoin's recent surge is expected to drive momentum buying, with targets of 105,000 and 120,000 by 2025, contrasting with the ASX's gradual gains.Technology and consumer discretionary sectors saw significant gains, while energy and mining stocks declined ahead of an OPEC+ meeting. Analysts suggest the ASX 200 needs to break above 8500 for a more decisive upward move, amid ongoing fluctuations since September.
IG
06:46 05.12.2024
South Korea's brief declaration of martial law unsettled markets, but swift government actions to restore order have mitigated the impact. The five-year credit default swap costs have decreased, the Kospi index selloff is slowing, and the won has regained most of its losses following President Yoon Suk Yeol's rapid reversal of the martial law decision.
The Reserve Bank of India's monetary policy committee is set to meet on December 6, with expectations to maintain the repo rate at 6.5% for the eleventh consecutive time. However, analysts anticipate a potential cut in the cash reserve ratio (CRR), currently at 4.5%, to enhance liquidity and support the economy, especially following a decline in GDP to 5.4%. The CRR is crucial for controlling inflation and managing lending practices among banks.
ICICI Securities has maintained a "BUY" rating on Lemon Tree Hotels, setting a target price of Rs 164. As of September 2024, the company operates 10,318 keys across 112 hotels and plans to expand by 5,220 keys by FY29, aiming for a total of 15,538 keys. Despite short-term operational constraints due to renovations, revenue and EBITDA are expected to grow at a CAGR of 22% from FY24 to FY27, with a gradual reduction in debt anticipated over the next few years.
The ASX 200 closed at 8465 after a 0.4% drop, influenced by strong US market performance and geopolitical tensions in Asia. While Australian banks and resource stocks have thrived, the upcoming "Santa Claus rally" may provide the needed momentum into January.In the US, the Nasdaq 100 reached record highs, buoyed by robust economic conditions, with projections aiming for 21,500. Bitcoin is consolidating around $95,943, with potential dips seen as buying opportunities, while oil prices remain range-bound between $66 and $72.50 amid OPEC+ production cuts and Middle Eastern uncertainties.
IG
06:35 05.12.2024
ICICI Securities has issued a BUY recommendation for Inox Wind, setting a target price of Rs 245. The INOXGFL Group is expanding into renewable power generation for the commercial and industrial sector, aiming for 3GW capacity by FY27/FY28, alongside solar cell production and hybrid renewable energy solutions. The group is positioning itself as a comprehensive player in India's energy transition.
Chinese energy drink maker Eastroc Beverage Group Co. is exploring a potential listing in Hong Kong after a previous plan for a Swiss share sale fell through. The Shanghai-listed company is looking to hire banks for the process, which could see an offering of up to $1 billion as early as next year.
Economic factors may undermine Trump's warning to BRICS regarding the potential replacement of the dollar. Meanwhile, significant developments in India's financial sector are underway, highlighted by the recent passage of a crucial Banking Law Amendment Bill and discussions on rate cuts.
Bitcoin has surged past the $100,000 mark for the first time, climbing over 50% since Donald Trump's election victory. The recent rise was fueled by the nomination of Paul Atkins as SEC head, a known crypto advocate, alongside other crypto-friendly appointments. With Trump aiming to position the U.S. as the "Bitcoin superpower," the market is experiencing unprecedented enthusiasm, reflected in the nearly 150% increase in Dogecoin since election day.
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