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The Dow Jones Industrial Average rose 54.77 points, or 0.16%, to 34,337.87, the S&P 500 lost 3.69 points, or 0.08%, to 4,411.55 and the Nasdaq Composite dropped 30.37 points, or 0.22%, to 13,767.74.

“You can add a Tata Power which will be the best power play on the private side but do not miss this basket of REC, PFC, NTPC, and Coal India and add an NMDC. If you bought these five stocks as SIP, you will be richly rewarded for the next six months but add Tata Power in that basket.”

The central bank will start cutting rates in June 2024, then again in September and every meeting from the fourth quarter onward, each in 25-basis point increments, Morgan Stanley researchers led by chief US economist Ellen Zentner said in their 2024 outlook on Sunday.

Its total income rose to Rs 2,174 crore in the July-September quarter from Rs 1,714 crore in the same period of the previous fiscal, Manappuram Finance said in a regulatory filing.

This IPO is entirely an offer for sale of up to 6.08 crore equity shares for cash, which has been reduced from 9.57 crore shares earlier. Under the OFS, parent Tata Motors will sell 4.62 crore shares, Alpha TC Holdings will offload 97.1 lakh shares and Tata Capital Growth Fund will give up 48 lakh shares.

Revenue from operations in the reporting period rose 10% to Rs 30,221 crore against Rs 27,486 crore in the corresponding period of the previous year. The revenue growth was driven by the performance of key subsidiaries -- UltraTech Cement and Aditya Birla Capital. However, softening of realisations in Caustic Soda impacted the standalone performance.

Going by the draft papers, the IPO of Fedbank Financial Services Ltd (Fedfina) consists of a fresh issue of equity shares aggregating up to Rs 750 crore and an offer for sale (OFS) of 7.03 crore equity shares by promoter Federal Bank and existing shareholder True North Fund VI LLP.

The Dow Jones Industrial Average fell 23.85 points, or 0.07%, at the open to 34,259.25

Indian stocks have risen about 7% this year, outpacing their peers in Asia and emerging markets, as growth in earnings and the economy lured local and global investors. India VIX, a gauge of expected stock-price swings, has slumped 25% so far this year to near its historical low.

The multi-commodity exchange will also be closed for the first half but will remain open for the evening session from 5:00 pm. Trade settlements will also be closed on Tuesday. The settlement holiday means that the commodity account balance of investors on November 14 will not include the credits from profits on trades or positions in commodity derivatives on November 13 and credits from exiting option positions on November 13.