Business News LIVE Updates: Hyundai Motor India shares fall 3% after lackluster stock market debut
On October 22, 2024, Hyundai Motor India made its stock market debut, but it was far from impressive. The shares were listed below the issue price of ₹1,960, leading to a disappointing performance for the company. The initial public offering (IPO) raised ₹27,870.16 crores, but weak market sentiment and the lack of expansion funding contributed to the lackluster debut.
The stock opened at ₹1,931 on the Bombay Stock Exchange (BSE) and ₹1,934 on the National Stock Exchange (NSE), marking a 3% decline from the issue price. This news sent ripples through the business world, highlighting the challenges faced by Hyundai Motor India in the competitive market.
In addition to Hyundai Motor India’s stock market debut, other significant updates in the business world included the latest gold and silver prices, with gold hovering near a fresh record and silver reaching its highest level since 2012 due to uncertainty in the market.
Furthermore, Elon Musk, the CEO of Tesla, faced a lawsuit over the unauthorized use of ‘Blade Runner’ imagery during the unveiling of the company’s Robotaxi. The backlash from Alcon Entertainment led to legal action against Musk, adding another layer of drama to the business news landscape.
Overall, the day was filled with ups and downs in the world of business, with companies facing challenges and opportunities in equal measure. Stay tuned for more updates on the latest developments in the business world.
