Elon Musk is firing thousands of more Tesla employees, notices reveal over 6,000 job cuts
Tesla, led by CEO Elon Musk, is planning for extensive job cuts, affecting over 6,000 employees. According to official notices filed under the Worker Adjustment and Retraining Notification (WARN) Act, 3,332 jobs will be eliminated in California, while 2,688 positions will be impacted in Texas.
2024-04-24T08:15:28Z
Gainers and Losers: 10 stocks that moved the most on April 23
On April 23, the Sensex closed 89.83 points, or 0.12 percent, higher at 73,738.45, and the Nifty was up 31.60 points, or 0.14 percent, at 22,368.00. About 2,267 shares advanced, 1,395 declined and 121 were unchanged. PSP Projects | CMP Rs 699 | Shares of PSP Projects gained more than a percent after the company launched a qualified institutions placement (QIP) offer to raise Rs 244 crore. The company has fixed a floor price of Rs 682.59 a share, though it may offer a discount of up to 5 percent to investors. The indicative issue price for the QIP is Rs 670. Tejas Networks | CMP Rs 1,088.25 | The Tejas Network stock jumped 20 percent and got locked in the upper circuit after the company reported strong Q4 earnings. The company's consolidated net profit came in at Rs 146.78 against a loss of Rs 11.47 crore a year ago. Vodafone Idea | CMP Rs 14.40 | Shares of Vodafone Idea rallied over 11 percent after the company's follow-on public offer (FPO) concluded with 6.36 times subscription. Investors sent in bids for 8,011.8 crore equity shares while the country's third-largest telecom operator had offered 1,260 crore shares in the Rs 18,000-crore FPO. Hatsun Agro | CMP Rs 1,108 | The Hatsun Agro stock advanced over 8 percent after the Chennai-based company's net profit doubled on year to Rs 52 crore in the January-March quarter. The strong bottomline was fuelled by healthy sales, retail expansion, increased procurement of milk and a solid margin expansion. KP Energy | CMP Rs 409.85 | Shares of KP Energy rose 5 percent to hit the upper circuit after the company received a wind power project. The company will develop a 9MW wind power project, a part of the wind-solar hybrid power project in Gujarat. Mahindra and Mahindra Finance | CMP Rs 263.45 | The M&M Finance stock fell over 5 percent after the company put off a board meeting planned for April 23 to discuss fourth-quarter results. The decision came after a fraud was unearthed at one of the company's branches in the Northeast region. It involved forging of KYC documents for retail vehicle loans, resulting in misappropriation of the company's funds. Bajaj Finance | CMP Rs 7,241 | Shares of Bajaj Finance declined after global brokerage firm UBS shared a "sell" call on the company, saying the listing of its housing finance arm would not add any considerable value. UBS analysts shared a target price of Rs 6,800, implying a 6 percent downside from current level. Indus Towers | CMP Rs 360.60 | The Indus Towers stock gained 3 percent after brokerage firm CLSA upgraded the counter to 'buy' and raised the target price to Rs 450 from Rs 335. The brokerage said Indus Towers could be a key beneficiary of Vodafone Idea’s fundraising effort and planned addition of around 48,000 sites for 4G and 5G technology. Inox Wind | CMP Rs 599.50 | Shares of Inox Wind jumped over a percent after the green energy firm said its board would take up a proposal to issue bonus shares. The company's board will meet on April 25 to consider and approve a proposal for issuing bonus equity shares, the company said. IEX | CMP Rs 152.90 | The Indian Energy Exchange stock surged more than 2 percent with strong volumes. Two crore shares changed hands compared to the monthly average of 97 lakh. The stock has gained 14 percent in the past month.
2024-04-23T10:54:28Z