Mon, Nov 18, 2024 10:11 AM
Rupee rises 8 paise to 84.38 against US dollar in early trade
A Flip by Avya Verma
Ola Electric‘s share price continued to sink on Monday morning, going down over 2.5% to hit a new all-time low of ₹68.10. Shares of the electric vehicle (EV) maker have faced pressure since its listing, with the stock experiencing a brief surge initially before a consistent decline. The stock has fallen by more than 57% from its peak of ₹157.40. In the last 30 days, the stock has sunk around 20%.
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Tata Electronics is set to acquire a 60 per cent majority stake in Taiwanese contract manufacturer Pegatron’s iPhone plant in Tamil Nadu, forming a new joint venture (JV), Reuters reported citing two sources. The move will strengthen Tata’s position as an Apple supplier in its India supply chain, the sources added.
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Chinese equities have shown resilience amid concerns over Trump's protectionist trade policy, outperforming India and European markets, while the US market has gained 3.2% since Trump's win. Chinese stocks have fallen 3.3%, less than other emerging markets, as investors doubt Trump's 60% tariff threat on Chinese imports.
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