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#894 Daily Money Show | Money Purse Stock Market News
Takeaway
Strong rally on US rate-cut hopes - Tata Power and Servotech could benefit from the new PM E-Drive EV scheme.
Summary
- Sensex +1,439 to 82,962 and Nifty +470 to 25,388; mid-cap +1.20%, small-cap +0.78%, Bank Nifty +1.49%
- US August CPI came in line with estimates, raising hopes for at least 25 bps rate cut at Sept 17-18 Fed meeting
- Government launched PM E-Drive scheme replacing FAME, with Rs 10,900 cr allocation over 2 years for EV two-wheelers, three-wheelers and buses
- Targets: 24.79 lakh e-2W, 3.16 lakh e-3W, 18,028 e-buses; also funds 88,500 EV chargers
- Tata Power and Servotech Power Systems flagged as beneficiaries of charging-infra rollout
Daily Money ShowUS FedPM E-DriveEVTata Power
Original description
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