Discover the top stock market headlines that are trending in India today.
Shares of Ola Electric Mobility dipped 6% and witnessed their day’s low of Rs 85.21 on BSE. The shares plunged after the the Central Consumer Protection Authority (CCPA) issued a show-cause notice to the company amid the growing amount of consumer complaints. “Show cause notice has been issued by the Central Consumer Protection Authority for alleged violation of consumer rights, misleading advertisement and unfair trade practices,” the Bhavish Aggarwal-run EV company said in a statement on Monday.
Shares of Trent Ltd jumped 7% in early deals on Tuesday after Morgan Stanley maintained its 'overweight' call on the Tata Group's subsidiary. The shares of Trent Ltd grew 6.78% to a record high of Rs 7,955 in early deals. It cannot go unnoticed that the shares have seen low volatility in the last one year, and the Tata Group's multibagger witnessed its 52-week low of Rs 1946.5 on October 26, 2023. Now the relative strength index (RSI) of the stock stands at 56.5, and has been trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
SpiceJet, in order to meet the growing demand, has announced plans to induct ten new aircraft into its fleet by the end of November this year. Out of the total 10 planes, seven will be leased and remaining three will be from the airline’s own grounded fleet. The full induction of their leased aircrafts is expected to be completed by November 15. As for the first two leased planes, they have already arrived in India and will be inducted on October 10. Post the company’s announcement, its shares surged 9.5% to its day’s high of ₹ 63 on BSE.
Shares of HEG surged 6% to Rs 2,335 on the BSE in Tuesday’s intraday trade after the company announced that it has taken over 8.23% in GrafTech International, for a total consideration of Rs 248.6 crore. The acquisition has been done via the secondary market transactions/overseas portfolio investment (OPI) scheme of Foreign Exchange Management (Overseas Investment) Rules, 2022. For those caught unaware, Graftech International is a major manufacturer of high quality graphite electrode products, which are needed for the production of electric arc furnace (EAFs) steel and other ferrous and non-ferrous metals.
