Tesla shares surged about 10% on Wednesday after the electric-car maker eased some worries about slowing growth with its plans to roll out more affordable models in early 2025. Investors had been bracing for the worst after a tumultuous week at Tesla that saw big layoffs, executive exits, price cuts and the postponement of a highly touted meeting with the Indian prime minister.
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The Enforcement Directorate on Wednesday conducted searches against an Uttar Pradesh-based real estate company as part of a money laundering investigation linked to an alleged bank loan fraud and cheating of homebuyers, official sources said. Officials of the federal agency covered premises linked to the Tulsiani Group in Lucknow, Meerut, Noida and Prayagraj apart from Gurugram in Haryana.
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Despite enjoying a higher valuation premium on risk management and overall governance practices, Kotak Mahindra Bank has now lost its status as the fourth largest banking stock on Dalal Street to rival Axis Bank. While Axis Bank shares were trading 4% higher on better-than-expected Q4 results, those of Kotak were trading 10% lower following a ban by RBI.
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