Yesterday's big news was related to Adani Power. Adani Power has given four days' time to Bangladesh to pay the outstanding electricity bill. The company has already halved Bangladesh's power supply. Group company Adani Power Jharkhand Limited (APJL) has taken this step due to non-payment of dues of $ 846 million (about Rs 7,118 crore).
In terms of market capitalization, the value of 6 out of the top 10 companies of the country has increased by a combined Rs 1.07 lakh crore in the last week. State Bank of India (SBI) has been the top gainer during this period. After a week's trading, the market cap of the bank has increased by Rs 36,100 crore to Rs 7.33 lakh crore.
Before tomorrow's big news, today's major events to keep an eye on…
- There may be a decline in the stock market today.
- The results of the second quarter of IRFC and IRCTC will come.
- There will be listing of IPO of Afcons Infrastructure Limited.
- There has been no change in the prices of petrol and diesel.
Now read tomorrow's big news…
1. Adani will cut off electricity if Bangladesh does not pay: Gave 4 days time, also halved the supply; ₹7,118 crore outstanding
Adani Power has given four days' time to Bangladesh to pay the outstanding electricity bill. The company has already halved Bangladesh's power supply. Group company Adani Power Jharkhand Limited (APJL) has taken this step due to non-payment of dues of $ 846 million (about Rs 7,118 crore).
According to the data of Bangladesh Power Grid, APJL has made this cut in electricity supply from Thursday night. Due to this cut, Bangladesh faced a power shortage of more than 1,600 MW in one night. The 1,496 MW Bangladeshi plant is now operating at 700 MW.
Click here to read the full news…
2. Value of 6 companies in top-10 increased by ₹ 1.07 lakh crore: SBI's market cap increased by ₹ 36,100 crore in last week's trading, Infosys was the top loser.
In terms of market capitalization, the value of 6 out of the top 10 companies of the country has increased by a combined Rs 1.07 lakh crore last week. State Bank of India (SBI) has been the top gainer during this period. After a week's trading, the market cap of the bank has increased by Rs 36,100 crore to Rs 7.33 lakh crore.
Apart from SBI, the market cap of ICICI Bank, Reliance Industries, ITC and Hindustan Unilever has increased. At the same time, Infosys remained the top loser during this period. The market cap of the company has decreased by Rs 38,054 crore to Rs 7.31 lakh crore.
Click here to read the full news…
3. Tough challenge to big car companies like Volkswagen-Mercedes in China: China is increasing its penetration across the world with cheap EVs; Cost is 30% less, it is also cheaper
China, the largest market for automobiles, has created a stir in the global auto industry. European companies like Volkswagen, Mercedes-Benz, Aston Martin, BMW are struggling to sell their petrol and EV cars in China. At the same time, China is increasing the penetration of its cheap EV cars across the world.
The situation is such that European companies are dying in China. The four-decade reign of German company Volkswagen is on the verge of collapse. The company's sales there have declined by more than 10% this year. The company generates 30% of its revenue from China, but profits fell 64% in the July-September quarter. The company is going to close 3 factories in Germany for the first time in 87 years. Production has to be reduced in China also.
Click here to read the full news…
4. Digital rise of Hindu faith through smartphones: Investment in religious startups increased 10 times in 1 year, from darshan to puja online.
Indian origin Khushboo (name changed) is in Dubai these days and has been associated with 'Shri Mandir' app for two months. On the advice of an astrologer from the app, he has organized virtual pujas in temples across India. This app is available for Rs 891. It allows devotees from India or abroad to perform virtual puja at any temple. Rs 101 on Vama App. There is a facility for donating lamps in Ayodhya.
These faith-based apps are adding a new dimension to India's startup landscape. Their aim is to attract more than 110 crore Hindus living around the world including India. Manu Jain, co-founder of Vama, says, 'The rise of such services is a result of the rapid proliferation of smartphones. However, Christian and Muslim religious startups are far ahead in statistics.
Click here to read the full news…
5. There may be a big fall in the stock market: FIIs sold shares worth ₹ 1.2 lakh crore, 5 factors will decide the movement of the market.
There may be a decline in the stock market in the week starting from 4th November. This week, investors will keep an eye on companies' quarterly results, global and domestic economic data and other factors.
According to market expert Harshubh Shah, there may be a market crash in the coming days, hence one should avoid buying now. Shah had advised investors to stay away from the market even on the day of Muhurta trading.
Click here to read the full news…
Also see who were the top 10 richest people in the world yesterday…
Yesterday the market was closed on Sunday, so know the condition of share market of Friday and gold and silver of Thursday…
Know the latest price of petrol, diesel and gas cylinder…
Graphics Source: VaskarAssets
