
Kotak Mahindra Prime becomes preferred financer for Tesla
New Delhi, Jul 18 (PTI) Kotak Mahindra Prime (KMPL), the auto financing arm of Kotak Group, on Friday said it has become a preferred financer, offering its seamless financing experience for Tesla's futuristic EVs.
Kotak Mahindra Prime is the first among financers to be appointed as a Preferred Financer for Tesla in India, the company said in a statement.
KMPL will be offering specially curated car finance schemes for Tesla EV buyers, it said.
Buyers would be able to check financing options by KMPL on the Tesla India portal/mobile application itself for a seamless buying experience, it said.
'We have always been at the forefront of financing sustainable mobility solutions. Our collaboration with Tesla will give further impetus to our efforts in enabling customers to realise their aspiration towards a more sustainable living," KMPL Managing Director and Chief Executive Officer Shahrukh Todiwala said. PTI DP DP SHW
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Economic Times
2 hours ago
- Economic Times
U.S. stock market hits fresh record highs—Dow, S&P 500, Nasdaq climb, driven by Verizon, Block, Cleveland‑Cliffs gains
Synopsis US Stock market today saw the Dow, S&P 500, and Nasdaq inch higher as Wall Street kicked off a packed week of Big Tech earnings and rising concerns over President Trump's upcoming tariffs. The S&P 500 rose 0.5%, Nasdaq gained 0.7%, and the Dow added 0.4%. Investors are closely watching earnings from Alphabet and Tesla, set to report midweek. Meanwhile, trade tensions with the EU are growing as the August 1 tariff deadline nears. Despite risks, 86% of early S&P 500 reports have beaten expectations. This week could shape the future of both markets and global trade. Wall Street kicked off the week with a powerful rally as all three major U.S. indexes—the Dow Jones, S&P 500, and Nasdaq Composite—surged to new highs on Monday. Investors poured into equities amid upbeat corporate earnings, cooling Treasury yields, and renewed optimism over a potential U.S.–EU trade deal ahead of the looming August 1 tariff deadline. Tech stocks led the charge, with Block, Verizon, and Cleveland-Cliffs posting standout gains, while all eyes now turn to this week's much-anticipated earnings from Tesla and Alphabet. US Stock market today: Dow, S&P 500, Nasdaq edge higher as investors brace for Big Tech earnings and Trump tariffs- US Stock market today opened the week on a positive note as Wall Street cautiously stepped into a Big Tech-heavy earnings season, while also watching for signs of escalation around President Donald Trump's proposed tariffs. The S&P 500 (^GSPC) rose 0.5% and the Nasdaq Composite (^IXIC) gained 0.7%, continuing last week's strong performance driven by growth and tech stocks. The Dow Jones Industrial Average (^DJI) was up nearly 0.4% as Monday's trading session closed. With earnings season heating up and trade policy becoming more uncertain, investors are juggling optimism and caution. Reports from Alphabet (GOOG) and Tesla (TSLA) later this week are set to dominate headlines, while tensions between the US and EU over trade agreements remain unresolved. S&P 500 rose approximately 0.3–0.5% , reaching a new all-time high near 6,315 . rose approximately , reaching a new all-time high near . Nasdaq Composite jumped around 0.5–0.7% , also setting a fresh record above 21,000 . jumped around , also setting a fresh record above . Dow Jones Industrial Average gained modestly, about 0.1–0.4%, settling just below its all‑time peak. As the second-quarter earnings season ramps up, all eyes are on Alphabet and Tesla, the first of the so-called "Magnificent Seven" to report results. These earnings will be critical in justifying the current high valuations of tech stocks, especially with investor sentiment so closely tied to the AI boom. Out of the 59 S&P 500 companies that have already posted their Q2 results, a striking 86% have beaten Wall Street estimates, according to Bloomberg. While this beat rate is historically impressive, it's worth noting that expectations were modest to begin with. Any strong performance from Alphabet or Tesla this week could reinforce investor confidence in continued tech sector dominance. Several key catalysts are powering the bullish sentiment across Wall Street: Strong corporate earnings : Verizon, Cleveland-Cliffs, and Block all reported better-than-expected results, pushing their stocks sharply higher. : Verizon, Cleveland-Cliffs, and Block all reported better-than-expected results, pushing their stocks sharply higher. Tech optimism : Investors are gearing up for big earnings from Alphabet and Tesla this week. : Investors are gearing up for big earnings from and this week. Trade relief hopes : Speculation is rising that the U.S. and EU could strike a deal ahead of the August 1 tariff deadline , easing global trade tensions. : Speculation is rising that the U.S. and EU could strike a deal ahead of the , easing global trade tensions. Falling Treasury yields: The 10-year yield has eased to around 4.37%, which is boosting appetite for equities, especially in tech. Tensions are rising on the trade front, especially between the United States and the European Union. With President Trump's August 1 tariff deadline fast approaching, concerns about a breakdown in negotiations are growing. The EU, according to Bloomberg, is now open to a slightly imbalanced deal just to avoid new US tariffs. However, resistance within EU member states and Trump's tougher public stance are slowing progress. Commerce Secretary Howard Lutnick over the weekend described the August 1 deadline as a 'hard stop' for compliance, though he added that conversations may continue even past that point. These mixed signals are keeping global investors on edge. Domino's Pizza (DPZ) offered a rare bright spot outside tech on Monday. The company's Q2 sales beat estimates, driven by strong customer interest in its new product lineup. Despite the broader uncertainty around tariffs and consumer sentiment, Domino's showed resilience, helping to steady the consumer discretionary sector for the day. Verizon Communications (VZ) and Cleveland-Cliffs (CLF) also released updates Monday, but the focus clearly remained on upcoming tech reports and global trade developments. Here are some of Monday's biggest winners on Wall Street: Block (SQ) : 📈 Surged +8.3% after being selected to join the S&P 500 index. : 📈 Surged after being selected to join the S&P 500 index. Cleveland-Cliffs (CLF) : 📈 Gained +7.4% after a strong earnings beat. : 📈 Gained after a strong earnings beat. Verizon (VZ) : 📈 Rose +3.3% thanks to upbeat Q2 earnings and raised full-year guidance. : 📈 Rose thanks to upbeat Q2 earnings and raised full-year guidance. Meta Platforms (META): 📈 Added over +2% amid strong rotation into big tech. While most of the market is green, a few notable names are under pressure: Sarepta Therapeutics (SRPT) : 🔻 Fell -2.2% after the FDA halted its gene therapy trial due to safety issues. : 🔻 Fell after the FDA halted its gene therapy trial due to safety issues. Domino's Pizza (DPZ) : 🔻 Slid -1.6% despite beating sales estimates—investors were spooked by weaker profits. : 🔻 Slid despite beating sales estimates—investors were spooked by weaker profits. Microsoft (MSFT): 🔻 Down slightly at -0.6%, following some minor tech pullbacks. CoreWeave : ⚡ Up around +3% amid AI enthusiasm. : ⚡ Up around amid AI enthusiasm. Robinhood (HOOD), Roblox (RBLX), MercadoLibre (MELI): 👎 All slipped 2–3%, weighed down by disappointing updates and sector rotation. Within Dow Jones components: Apple (AAPL) : 📈 Up +0.7% : 📈 Up American Express (AXP) : 📈 Gained +0.4% : 📈 Gained Microsoft (MSFT): 🔻 Down slightly Domino's Pizza (DPZ) surged after reporting stronger-than-expected Q2 sales , driven by the success of new menu items and solid customer demand. surged after reporting stronger-than-expected , driven by the success of new menu items and solid customer demand. The earnings beat helped boost investor confidence , despite broader market uncertainty around tariffs. , despite broader market uncertainty around tariffs. Stock Movement: DPZ jumped over 5% during the session. DPZ jumped over during the session. Highlight: Strong product innovation offset macroeconomic concerns. The market's current strength — especially in the S&P 500 and Nasdaq — is raising questions about whether valuations have run ahead of fundamentals. The AI-led rally has pushed many tech stocks near or past all-time highs. Investors will be watching this week's earnings closely to see if results truly back up the excitement. Some analysts worry that this stretch is starting to resemble past tech bubbles, though others argue that actual earnings and real-world AI adoption are finally catching up with investor enthusiasm. Cleveland-Cliffs (CLF) was among the worst performers after its quarterly report missed Wall Street expectations , with pressure from weaker steel demand and rising input costs. was among the after its quarterly report , with pressure from weaker steel demand and rising input costs. The stock faced additional drag from concerns over future tariff impacts on the commodities and manufacturing sector. Stock Movement: CLF fell by more than 4% on the day. CLF fell by on the day. Highlight: Disappointing earnings and tariff exposure hit investor sentiment. With Alphabet and Tesla reporting Wednesday, followed by more Magnificent Seven companies later in the season, earnings data will shape the narrative. Beyond that, the looming August 1 trade deadline and any updates from the White House on tariffs will be key. So far, strong corporate results have offset global concerns — but that balance could quickly shift if Big Tech disappoints or trade talks break down. Investors are advised to stay alert and watch both earnings numbers and geopolitical headlines as they unfold. The stock market today is riding a wave of optimism from early earnings results and hopes that trade talks won't derail the rally. But with crucial tech updates and global tensions ahead, this week could set the tone for the rest of the quarter. Q: What moved the stock market today? A: Gains in Big Tech stocks and tariff concerns pushed markets slightly higher. Q: Why are Alphabet and Tesla earnings important this week? A: They're the first major tech firms reporting and could impact overall market direction.


NDTV
3 hours ago
- NDTV
Musk's X Calls French Foreign Interference Probe "Politically Motivated", Refuses To Cooperate
A French probe into alleged foreign interference and bias via the algorithm at Elon Musk-owned social network X is "politically motivated", the company said in a post Monday, adding that it was refusing to cooperate. "X believes that this investigation is distorting French law in order to serve a political agenda and, ultimately, restrict free speech," the social network said. It added that it "has not acceded to the French authorities' demands" to access its recommendation algorithm and real-time data, "as we have a legal right to do". Cybercrime prosecutors announced the opening of the probe on July 11 into suspected crimes including manipulating and extracting data from automated systems "as part of a criminal gang". The move followed two complaints received in January about "foreign interference" in French politics via X -- one of them from Eric Bothorel, an MP from President Emmanuel Macron's centrist party. Bothorel had complained of "reduced diversity of voices and options" and Musk's "personal interventions" on the network since his 2022 takeover of the former Twitter. The Tesla and SpaceX chief has raised hackles in Europe with political sallies, including vocal backing for the far-right Alternative for Germany (AfD) party ahead of February legislative elections. "Democracy is too fragile to let digital platform owners tell us what to think, who to vote for or even who to hate," Bothorel said after the investigation was announced. The company responded Monday saying, "Mr Bothorel has accused X of manipulating its algorithm for 'foreign interference' purposes, an allegation which is completely false." Prosecutors have not confirmed whether they are also investigating under a French law against foreign interference in politics passed last year. X also complained of bias in French authorities' choice of experts to examine its algorithm, including mathematician David Chavalarias and computer scientist Maziyar Panahi. Both have been involved in a scheme called "HelloQuitteX", designed to make it easier for users to migrate their X presence to other social networks. Picking them "raises serious concerns about the impartiality, fairness and political motivations of the investigation", the company said. It also objected to the use of the "organised gang" aggravating circumstance. The characterisation "is usually reserved for drug cartels or mafia groups" and "enables the French police to deploy extensive investigative powers... including wiretapping the personal devices of X employees," the company said.


News18
3 hours ago
- News18
Land pooling scheme: Farmers to get Rs 1 lakh per acre until land is developed
Chandigarh, Jul 21 (PTI) Farmers will initially receive Rs 50,000 per acre along with the letter of intent (LOI) within 21 days of applying for the land-pooling scheme, said Punjab Cabinet Minister Hardeep Singh Mundian on Monday. He further said the amount of Rs 50,000 will be hiked to Rs 1 lakh per acre when the government takes over the possession of the land. Mundian also said there will be a 10 per cent hike per annum until the land development is complete. The housing and urban development minister held deliberations with the farmers of 164 villages regarding the land-pooling scheme here to get their feedback and address their concerns related to the scheme. Mundian said farmers who opt for the land-pooling scheme can continue farming on the land until the development work on the land starts. The minister said farmers will get the LOI within 21 days of applying for the scheme. The day the government takes possession of the land, the amount of Rs 1 lakh per acre per annum will be given and if the government takes two or three years in land development, there will be a 10 per cent annual increase in the lease amount, he said. The AAP government has been facing flak from the opposition parties which dubbed the land-pooling policy a 'looting" scheme to 'rob" farmers of their land. PTI CHS MNK MNK view comments First Published: July 22, 2025, 00:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.