Finvezto Daily Market Bytes, 09 Dec 2024
Auto Price Hikes; Motilal Oswal stops SIPs; TVS Reveals Powerful Engine; Key Stock Updates
In today’s edition, we cover:
Auto Price Hikes
Motilal Oswal stops SIPs
TVS Reveals Powerful Engine
Key Stock Updates
Here’s a quick market snapshot before we start. GIFT Nifty indicates a flat start for the Indian Markets.
1. Auto Price Hikes
Car manufacturers announce price increases of up to 4% across models starting Jan 2025 citing rising costs.
Maruti Suzuki leads with 4% hike on its entire range. Hyundai follows with increase up to ₹25,000 pointing to exchange rates and logistics expenses.
Mercedes plans steepest adjustment in luxury segment. Prices rise from ₹2 lakh for GLC to ₹9 lakh for Maybach S 680 model.
BMW Audi Mahindra JSW MG join the trend with 3% increases.
The year-end is often a strategic time for price adjustments. By announcing increases effective in the new year, manufacturers can stimulate last-minute purchases in December, ensuring dealers clear inventory. This synchronized move creates urgency for buyers.
2. Motilal Oswal stops SIPs
Motilal Oswal stops new SIP registrations for S&P 500 Index and Nasdaq 100 Fund of Funds from December 10.
The fund house will continue existing SIP investments. New registrations accepted only till December 10 business hours.
Redemptions stay unrestricted.
Note: Please buy the MON100 ETF to take exposure to Nasdaq 100
3. TVS Reveals Powerful Engine
TVS Motor unveils RT-XD4 engine platform marking its first in-house developed system for performance bikes.
The 299.1 cc engine delivers 35 PS power at 9,000 rpm. Its torque output peaks at 28.5 Nm at 7,000 rpm making it suitable for high-performance motorcycles.
TVS developed the platform at their Hosur R&D center.
The engine supports ethanol-blended fuels focusing on emission reduction.
With focus on clean, connected, and technologically advanced mobility solutions, TVS motor aims to take its exports share to 50% over the next few years.
4. Key Stock Updates
New Orders
JSW Energy subsidiary wins 400 MW solar power project from NTPC.
KMEW secures contract for new tug supply to V.O. Chidambaranar Port.
Kalpataru Projects bags orders worth ₹2,174 crore in metro and construction.
Tembo Global wins water irrigation project worth ₹52.90 crore.
Kernex Microsystems receives ₹2,041 crore contract for KAVACH equipment.
Sarveshwar Foods gets export order for 5,350 MT Basmati rice at ₹498 million.
Partnerships, Investments & Acquisitions
Paytm to sell 5.4% stake in PayPay Corp to SoftBank for $250 million.
Ceat acquires Camso's off-highway tyre business from Michelin for $225 million.
Laurus Labs subsidiary receives ₹120 crore investment from Eight Roads Ventures.
Wipro partners with SIAM AI for Thailand Tourism Authority's digital assistant.
Core Business Updates
Bansal Wire Industries commences specialty wire production at Dadri plant.
Bajaj Healthcare's Gujarat API plant receives Australian regulatory approval.
NLC India emerges successful bidder for Patrapara South Coal Mine.
Allcargo Terminals leases 22 acres in Maharashtra for expansion.
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Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This daily update highlights market trends for your awareness. It does not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.
Why they are doing this move now I have existing SIP on both FOF, is this any redflag?
Motilal Oswal stops new SIP registrations for S&P 500 Index and Nasdaq 100 Fund of Funds from December 10