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Mahindra & Mahindra (M&M) and Maruti Suzuki are gearing up to challenge Tata Motors' dominance in India's electric vehicle (EV) market. M&M has launched two new EVs and invested significantly in the ecosystem, while Maruti is set to debut the E-Vitara SUV in 2025. Despite Tata Motors holding a 58% market share, down from 74% a year ago, analysts suggest that the competition is intensifying as rivals prepare for a more active role in the EV landscape.
The Nifty IT index reached a record high of 44,085, with a 40% gain over the past year, reflecting strong performance in the sector despite previous challenges. Experts attribute this rebound to robust order books and significant deals from major firms like Infosys and TCS, alongside resilient demand in banking, healthcare, and retail. While near-term pressures may affect margins, long-term growth is expected to stem from earnings rather than stock price increases.
Nifty and Sensex opened lower on November 21, impacted by global and domestic issues, including rising geopolitical tensions from the Russia-Ukraine conflict and a $250 million bribery indictment against Gautam Adani. At 9:30 am, the Sensex fell 404.68 points (0.52%) to 77,173.70, while the Nifty dropped 147.20 points (0.63%) to 23,371.30, with a significant number of shares declining amid a cautious market atmosphere.
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