Fri, Sep 20, 2024 5:12 PM
Rate cuts are here, but US stocks may have already priced them
A Flip by Shubhangi Gupta
Mahindra Group's market capitalization surpassed ₹6 lakh crore after Mahindra & Mahindra's 5% stock surge, driven by optimism on festive demand and strong sales growth prospects in its automotive and farm equipment segments. Mahindra Group's market value has risen 47% in 2024, led by Mahindra & Mahindra's 71% rally.
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NHPC Ltd has declared Patel Engineering Limited (PEL) as L1 for a Rs 240.02 crore contract for the works involving modification of diversion tunnel into tunnel spillway arrangement. The company has a market cap of Rs 4,930 crore and has ROE of 7.5 per cent. The stock has given more than more than 480 per cent multibagger returns in the last five years.
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Alan, the French insurance unicorn, just signed a multi-faceted deal with Belfius, one the largest banks in Belgium, that includes a distribution partnership along with a significant financial investment in the startup. Belfius is leading Alan’s Series F funding round of €173 million. It expects its annual recurring revenue to reach €450 million (around $500 million) this year.
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