Tuesday, September 08
Shares of Ola Electric Mobility extended their rally on Thursday, climbing as much as 4% intraday to Rs 52.8 on the BSE, pushing their two-day gain to 8.7%, even as the company faces mounting competition in the electric two-wheeler market.The advance comes after the company earlier this week announced Production Linked Incentive (PLI) certification for its Gen 3 scooter portfolio, a move Ola said would bolster margins and profitability starting this quarter. The certification covers all seven models of its Gen 3 range, which accounts for more than half its sales volume.Incentives to strengthen profitabilityThe Automotive Research Association of India approved the Ministry of Heavy Industries’ scheme, making Ola eligible for incentives ranging from 13% to 18% of sales value until 2028.A c
Shares of HDFC Bank slipped 1.8% to their intraday low of Rs 955 on the BSE on Thursday after a large block deal saw 1.56 million shares change hands. The transaction came just a day after the bank’s stock price adjusted to reflect its recent 1:1 bonus share issuance, which had already taken effect on Tuesday.Block deals are typically high-value transactions involving a minimum quantity of shares executed between institutional investors or large stakeholders, often carried out through a separate trading window to reduce volatility in the open market.While details of the buyer and seller were not immediately available, such transactions can influence near-term stock movement given the large volumes involved.The decline in the stock follows a significant technical adjustment earlier this w
