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Hyundai Motor India Limited (HMIL) has announced a price hike across its entire range of models, effective January 1, 2025. The company stated that the decision was driven by a sustained rise in input costs, adverse fluctuations in exchange rates, and escalating logistics expenses.

The adjustment will apply to all MY25 models, with prices increasing by up to ₹25,000.

Tarun Garg, Whole-time Director and Chief Operating Officer at HMIL, while explaining the rationale behind the decision, said, “…with the sustained increase in input cost, it has now become imperative to pass on a part of this cost escalation through a minor price adjustment.”

In related developments, the automaker reported a 7% year-on-year decline in total sales for November 2024. The company sold 61,252 units during the month, compared to 65,801 units in November 2023.

Domestic sales dropped 2% year-on-year to 48,246 units from 49,451 units, while exports saw a sharper decline of 20%, falling to 13,006 units.

Despite the overall drop in sales, SUVs remained a strong segment for Hyundai in the domestic market.

According to Garg, SUVs accounted for 68.8% of Hyundai’s total domestic sales in November, reflecting the company’s ongoing emphasis on strengthening its presence in this category.

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Bitcoin’s value crossed $100,000 for the first time on Thursday, as traders expect a favourable regulatory environment under incoming US President Donald Trump, news agency Reuters reported.

“Bitcoin crossing $100,000 is more than just a milestone; it’s a testament to shifting tides in finance, technology, and geopolitics,” Justin D’Anethan, a Hong Kong-based independent crypto analyst, told Reuters.

Trump’s favourable stance towards cryptocurrencies is expected to favour its growth once he assumes office in January 2025. Bitcoin has more than doubled in value this year and is up about 45% in the four weeks since Trump’s sweeping election victory.

On Wednesday, Trump said he would nominate former SEC commissioner Paul Atkins to head the Securities and Exchange Commission. Atkinson has been the co-chair of the Token Alliance, which works to “develop best practices for digital asset issuances and trading platforms,” and the Chamber of Digital Commerce.

Trump also promised to create a new crypto advisory council, and several crypto companies, including Ripple, Kraken, and Circle, are jostling for a seat. According to several digital asset industry executives, the council will have a major say in Trump’s planned overhaul of US cryptocurrency policy.

American billionaire Elon Musk, a Trump backer, also favours liberal regulation of crypto assets.

“We’re witnessing a paradigm shift. After four years of political purgatory, bitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream,” said Mike Novogratz, founder and CEO of U.S. crypto firm Galaxy Digital.

“This momentum is fueled by institutional adoption, advancements in tokenization and payments, and a clearer regulatory path,” Novogratz added.

Trump’s shifting stance

During his first term, Trump referred to cryptocurrencies as a “scam.” His move to cut corporate taxes during his first term brought more liquidity into the markets and drove more investments into high-growth assets such as cryptocurrency.

During the poll campaign, Trump projected himself as a “crypto-friendly” candidate and even pledged to make the US the “bitcoin and cryptocurrency capital of the world”. Trump also promised to ensure the US federal government does not liquidate its crypto assets.

He also contemplated creating a “strategic reserve” of bitcoin. The soaring value of bitcoin convinced Trump to launch his new venture, World Liberty Financial, with family members to trade cryptocurrencies. The Financial Times reported last week that Trump’s social media company Truth Social is close to an all-stock acquisition of Bakkt, a crypto trading firm.

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Viacom18 Media Pvt Ltd, a subsidiary of Reliance Industries, now officially owns the domain jiohotstar.com, putting an end to months of legal and commercial disputes. As per the latest WHOis records, Manish Painuly, senior director at Viacom18, is listed as the registrant and administrative contact. 

The domain is registered under Viacom18 Media Pvt Ltd, headquartered in Mumbai, Maharashtra, records show. 

The domain was originally registered by a Delhi-based engineer who later transferred ownership to Dubai-based siblings Jainam and Jivika. 

The domain’s history ties it to prominent brands, Reliance Jio and Disney+ Hotstar, amidst talks of a potential merger. The Delhi-based engineer initially demanded financial support for his Cambridge University education in exchange for the domain, which Reliance reportedly declined. The Dubai siblings later acquired it before transferring ownership to Reliance.

The siblings handed over the domain to Reliance’s legal team last month, free of cost, following media speculation about financial or coercive arrangements, as earlier reported by Business Standard. They denied any payment or pressure, stating their decision was voluntary, hoping the domain would benefit Reliance.

Viacom18 Media offers a diverse range of content across television, digital platforms, and film production. It is a joint venture between Reliance Industries’ TV18 and Paramount Global (formerly ViacomCBS). 

Viacom18 operates popular channels such as Colors, MTV India, Nickelodeon, and VH1. Its digital arm, JioCinema, has also gained traction, especially after signing on as the official digital streaming partner for IPL.

Manish Painuly is a senior director at Viacom18 who has been with the company for over 16 years. According to his LinkedIn profile, Painuly’s role focuses on the digital transformation in Viacom18. Painuly has managed Viacom18’s digital products, including VOOT, leveraging his expertise in web strategy, project management, and IT cost optimisation. 

This final transfer solidifies Reliance’s control over the domain, marking the resolution of the extended ownership debate.

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Shares of newly-listed NTPC Green Energy Ltd soared over 9% in trade on Wednesday, December 4, after hitting the 10% upper circuit in the previous session.

On the National Stock Exchange of India (NSE), the NTPC Green Energy stock touched its record high of ₹155.35 on Wednesday, which was almost 44% higher than its initial public offering (IPO) price of ₹108 per share.

The renewable energy stock listed on exchanges on November 27 at ₹111.5 apiece, which is a premium of just 3.2% over the issue price.

The investors, who were allotted at least a single lot of 138 shares in the NTPC Green Energy IPO, would have made a profit of ₹6,534 at today’s intraday high price over the minimum investment of ₹14,904.

Key triggers behind stock rally

The rally in the stock post-listing has been seen amid a positive sentiment among investors. Market observers see a potential rise in stock price due to the company’s strong fundamentals and strong position within the green energy sector.

According to a CRISIL report, NTPC Limited’s renewable energy arm is the largest renewable energy PSU in terms of operating capacity as of September 30, 2024. The company’s renewable energy portfolio includes solar and wind power projects spread across multiple states.

Green energy stocks are also in focus ahead of the Reserve Bank of India’s Monetary Policy Committee meeting, which is scheduled from December 4 to December 6. According to experts, the RBI and other regulators are likely to issue guidelines on green lending. The government framework on green lending is likely to incentivise solar investments, experts predict.

The NTPC Green Energy IPO opened for subscription on November 19 and closed on November 22. It aims to raise ₹10,000 crore through a fresh issuance of shares.

The purpose of the issue was to raise money for NTPC Green Energy’s wholly-owned subsidiary, NTPC Renewable Energy Ltd (NREL), for repayment/prepayment of certain outstanding borrowings availed by the unit.

Despite creating a lot of buzz in the market, the NTPC Green Energy IPO was oversubscribed by just around 2.55 times, with the non-institutional investors (NIIs) category remaining undersubscribed at 85%.

Muted demand by NIIs showed its effect on the stock in the form of a tepid listing a few days later. However, the share price has increased after the listing amid upbeat investor/trader sentiments.

NTPC Green Energy, a ‘Maharatna’ central public sector enterprise, is an umbrella company for the green business initiatives of state-run NTPC Ltd and undertakes projects through organic and inorganic routes. It aims to be the flag-bearer of NTPC’s green energy journey to achieve the ambitious target of 60 GW by 2031-32. The company posted a revenue of ₹2,037.66 crore in 2023-24, while profit after tax stood at ₹344.72 crore.

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Reliance Power shares rose 5% to hit an intra-day high of Rs 41.09 on Wednesday after the Solar Energy Corporation of India withdrew the debarment notice issued to the Anil Ambani-led company for applying for tenders in the renewable space. This enables Anil Ambani’s firm to participate in future tenders. 

On November 6, SECI in an initial notice debarred Reliance Power and Reliance NU BESS from participating in any of its tenders for three years for allegedly submitting “fake documents”.

“Following the legal proceedings related to this matter, it is hereby notified that the Debarment Notice issued to M/s Reliance Power Limited has been withdrawn, with immediate effect. This withdrawal is without prejudice to SECI’s right to take all actions in accordance with the law. Accordingly, the public notice dated 06.11.2024, stands modified to the limited extent as above,” read a notice by SECI. 

Reliance Power in Q2 

Reliance Power posted a consolidated net profit of Rs 2,878.15 crore in Q2 FY25 against a net loss of Rs 237.76 crore in the same quarter a year ago. The total income of the company dipped by 7.2% on year to Rs 1,962.77 crore in the July-September quarter of the current financial year, compared to  Rs 2,116.37 crore in the same period a year ago.

Reliance Power Vs Nifty 50

The stock of Reliance Power has risen 5.2% in the last five trading sessions. However, the stock has fallen 6.8% in the last one month and 60% in the previous six months. The stock has risen 72% from year to date and 96% in the last one year. 

On the other hand, compared with the benchmark index, Nifty 50 has risen 0.7% in the last five trading sessions. It has risen 1.9% in the last one month and almost 12% in the past six months. The index has given a return of 12.5% from year to date and 18% in the last one year.

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