Greaves Cotton to unveil new products across 2 & 3 electric wheelers

The Markets Today in a nutshell

• Domestic benchmark indices ended on a positive note.
• With the RBI’s credit policy overhang now behind, investors made selective buying in bank, metal and automobile stocks, although the undertone remained cautious ahead of next week’s US Federal Reserve meeting on the interest rates. Nifty PSU Bank index rose nearly 4 percent and the Nifty Bank index rose 1 percent, touching a fresh high.

Capital Flows

News you could use

? Bank of India closed 8.6 percent higher as foreign brokerage gives strong outlook
Morgan Stanley expects another strong year for banks, given sustained growth and a benign credit cycle. It prefers Bank of India and Bank of Baroda to play the continued strong cyclical tailwinds. The foreign brokerage firm has a target price of Rs 125 on Bank of India. The stock closed 8.6 percent higher.

? Lumax Industries approves setting up of greenfield project
The company’s board has approved the setting up of a greenfield project at Pune with a capital outlay of up to Rs 175 crore for Phase 1. The project will cater to new orders for advanced lighting systems from OEM (original equipment manufacturer) clients. “Peak annualised turnover is expected to the tune of Rs 600 crore post commissioning,” said the company. The stock ended 5 percent higher.

? Greaves Cotton to unveil new products across 2 & 3 electric wheelers
The company will unveil five new products across electric 2 & 3 wheelers at the Auto Expo 2023. “The new products will address EV customer needs in the fast-transforming B2B and B2C space,” a press release said.

News from the IPO world?

• Landmark Cars IPO to launch next week
• Abans Holdings IPO to open on Dec 12th.
• NSDL India’s first depository kicks off 2023 IPO plans

Numbers? that matter