Flight operations faced significant disruptions Wednesday morning as check-in systems at multiple airports simultaneously failed. Airlines, including IndiGo and Air India Express, resorted to manual procedures, leading to flight delays. Passengers were informed of a global Microsoft Windows service outage impacting airport IT systems.
Asian markets saw mixed trading, mirroring Wall Street’s gains but tempered by anticipation of key US economic data and the Federal Reserve’s upcoming meeting. Investors await crucial inflation and jobs figures, with a December rate cut widely expected. Strong US Black Friday sales offered some market cheer, while Bitcoin rebounded after a recent dip.
The Indian rupee has hit a new low of 90.05 against the US dollar, extending its downward trend. This depreciation is attributed to speculators and importers, with market experts citing the strong dollar and delays in the India-US trade deal as key factors.
Stock market recommendations: Mehul Kothari of Anand Rathi Shares and Stock Brokers recommends Kotak Bank, Hindustan Unilever, and Samvardhana Motherson International as top stock picks.
The Supreme Court upheld SEBI’s Rs 30 lakh fine on Reliance Industries for delayed disclosure of the Jio-Facebook deal. Justices Kant and Bagchi emphasized that listed companies must clarify speculative media reports to prevent market manipulation. The court stressed that larger entities bear greater responsibility for adhering to disclosure norms, dismissing RIL’s appeal.
Michael Burry, the investor famous for predicting the 2008 financial crisis, has criticized Tesla’s valuation as “ridiculously overvalued.” He argues that stock-based compensation, including Elon Musk’s massive pay package, dilutes shareholder value and distorts true profitability. Burry believes this accounting practice, common in tech, masks recurring expenses and makes Tesla’s market value unsustainable.
A parliamentary panel has proposed significant reforms to India’s insolvency framework, advocating for an advance ruling mechanism to provide pre-admission clarity and reduce litigation. The committee also backed integrating mediation and a transparent ‘no dues’ certificate system for revitalized companies. Stricter penalties for frivolous appeals and enhanced NCLT capacity were also recommended to streamline the…
The PFRDA is establishing a dedicated NPS fund-of-funds platform to invest pension money into selected alternative investment funds (AIFs). This initiative aims to position pension assets as a stable source of long-term capital for India’s private markets. The regulator has clarified classifications and strengthened governance for alternate assets, enabling pension funds to invest confidently.
