Elon Musk's big bet that Tesla price cuts could boost sales and profits amid increasing competition and poor economic sentiment appears to be yielding mixed results. Sales jumped and the company beat analyst expectations for net income in the April-June quarter, although the company's profit margins declined. Tesla shares followed suit in after-hours trading.

The Austin, Texas, maker of electric vehicles, solar panels and batteries reported net income of $ 2.7 billion in the quarter, a 20 per cent increase from a year ago.

Shares of Premier Explosives (PEL) were locked in the 10 per cent upper circuit, ahitting a new record high of Rs 889.15, at 02:59 PM on the BSE on Wednesday after the company reported over six-fold rise in its consolidated profit at Rs 8.26 crore for the June quarter (Q1FY24).

The company had posted profit of Rs 1.3 crore in the year ago quarter, and Rs 2.43 crore in the previous quarter (Q4FY23). It surpassed the entire previous fiscal year's (FY23) profit of Rs 6.97 crore in the first quarter of the current fiscal.

India's Tata Group will build an electric vehicle battery plant in Britain to supply its Jaguar Land Rover factories, delivering a major boost for a car industry in need of domestic battery production to help secure its future.

Under the plan, announced by the government and Tata on Wednesday, the company will build its first gigafactory outside of India in Britain with an investment of 4 billion pounds ($5.2 billion), creating up to 4,000 jobs and producing an initial output of 40 gigawatt hours.

Adani Group will build the world's largest hybrid power bank in the Khavda desert which is in Gujarat's Kutch district, Financial Express (FE) has reported. Making this announcement, the company has reiterated its plan to create 45 GW of renewable energy capacity by 2030. When operational, the park will produce 20 GW of green energy.

Elaborating on the plans to build the hybrid power bank, Adani Group's Chairman said, "We are now building the largest hybrid renewables park in the world — right in the middle of the desert — in Khavda. It will be the most complex and ambitious project that we have ever executed."

Shares of IndusInd Bank rallied 4 per cent to hit the highest level in over three-and-a half years at Rs 1,443 on the BSE in Wednesday’s intra-day trade after the lender reported healthy performance for the April-June quarter (Q1FY24).

The bank reported a 32.5 per cent year-on-year (YoY) growth in its net profit at Rs 2,124 crore, backed by a 22 per cent YoY growth in advances and steady margins. The bank’s provisions for the quarter ending Q1FY24 stood at Rs 992 crore compared to Rs 1,251 crore during the same period last year.

Nationalist Congress Party (NCP) leader Praful Patel who had earlier attended the opposition meeting in Patna last month, was present at the NDA meeting in Delhi on Tuesday along with Maharashtra Deputy Chief Minister Ajit Pawar.

Soon after attending the meeting Praful Patel said that NCP is an integral part of the national Democratic Alliance and his party will work with the NDA in future.

The report released by US-based short seller Hindenburg in January was a "combination of targeted misinformation and discredited allegations" and a "deliberate and malicious attempt" at damaging the Adani Group's reputation, Gautam Adani said on Tuesday.

Speaking at the group's annual general meeting (AGM), its chief Adani said the report aimed to generate profits from a short-term drive down of the stock prices.

Shares of Panasonic Energy India Company hit a near eight-year high at Rs 427, as they rallied 20 per cent on the BSE in Tuesday’s intra-day trade amid heavy volumes.

In past three trading days, the stock of the company engaged in business of manufacturing dry cell batteries has zoomed 72 per cent from level of Rs 247.55. It now quotes at its highest level since August 2015. The stock had touched a record high of Rs 450 on August 5, 2015.

An eight-fold surge in tomato prices is making some Indian farmers rich, although their windfall gains may be short-lived due to a likely rise in supplies in the coming weeks.

Retail prices of tomatoes were at Rs 178 ($2.20) a kilogram in Delhi on Sunday, a jump of more than 700% from Jan. 1, according to data compiled by the food ministry. The national average was almost Rs120 that day.

Shares of Amara Raja Batteries slipped 6 per cent to Rs 643.40 on the National Stock Exchange (NSE) in Tuesday’s intra-day trade after nearly 18 per cent of the total equity of India’s leading industrial and automotive battery major changed hands.

Till 09:47 AM; around 30.46 million equity shares representing 17.83 per cent of total equity of Amara Raja Batteries changed hands on the NSE, the exchange data shows.

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