Elon Musk said he expects to increase employee headcount and productivity per worker at Tesla. Anadolu/Anadolu via Getty Images Some large companies are attributing recent mass layoffs to advancements in AI. Tesla CEO Elon Musk said he expects to hire more people as robotics boost productivty. The "output" per Tesla worker will get "nutty high," Musk said. As companies conduct AI-induced layoffs, ...
Elon Musk said he expects to increase employee headcount and productivity per worker at Tesla. Anadolu/Anadolu via Getty Images Some large companies are attributing recent mass layoffs to advancements in AI. Tesla CEO Elon Musk said he expects to hire more people as robotics boost productivty. The "output" per Tesla worker will get "nutty high," Musk said. As companies conduct AI-induced layoffs, Elon Musk expects to do the exact opposite at Tesla. The CEO said during the Abundance Summit on Wednesday that workforce reductions aren't in the cards for Tesla and that he expects to raise headcount, after entrepreneur Peter Diamandis asked when he expects robots to build robots. "We're not planning any layoffs or reductions in personnel," Musk said. "In fact, we will increase our headcount. But the output per human at Tesla is going to get nutty high." Companies across industries are shedding employees, from administrative workers to engineers, and attributing the layoffs to advancements in AI. Atlassian, an enterprise software company, announced Wednesday that it would cut 10% of its workforce as it invests in AI to reshape its workforce. Block, a financial technology company co-founded by Jack Dorsey, laid off 40% of its workforce, or 4,000 employees, this month, citing AI as the main driver. Advertisement Musk himself has frequently said that advancements in robotics will eliminate the need for humans to have jobs. One of Tesla's main bets is Optimus, a humanoid robot. The CEO has advocated for a universal basic income because he predicts robots will fully take over the production of goods and services. "We'll basically just issue money to people," Musk said at the summit, "because the output of goods and services will so far exceed the money supply that we'll effectively have deflation." Automakers, including Tesla, are investing in humanoids and other robotics to fill in for manufacturing jobs. Agility Robotics' chief business officer, Daniel Diez, previously told ...
Hi, this is Allen Wan in Shanghai. As I sit around in my man cave wondering if I should grant OpenClaw access to my personal laptop, I am intrigued by the potential for this open-source AI platform to do all the boring tasks that worker ants like me have to do. I’m equally concerned about the security risks and my own job security. That’s the same conundrum the Chinese government is facing as it c...
Hi, this is Allen Wan in Shanghai. As I sit around in my man cave wondering if I should grant OpenClaw access to my personal laptop, I am intrigued by the potential for this open-source AI platform to do all the boring tasks that worker ants like me have to do. I’m equally concerned about the security risks and my own job security. That’s the same conundrum the Chinese government is facing as it considers whether to allow OpenClaw, an AI agent that requires unusually broad access to private data, to thrive as it did with DeepSeek just a year ago, or squash it as it pretty much did with Bitcoin . The stakes are high. China is in a race with the US for AI supremacy , and is pinning its hopes for growth on advanced tech and the ability of its private companies to lead it into the future, whether with humanoid robots, robotaxis or AI agents. It is incredible how OpenClaw, developed by OpenAI’s Peter Steinberger, has garnered such a huge following in China in such a short time — more so than in the US, where the tech giants have largely roped it off from joining their lucrative ecosystems. Read more about the enthusiasm in China here . Since launching in November last year, there have been well-attended gatherings in cities like Beijing, Shanghai and Shenzhen so geeks and office workers could meet to share tips on how to improve the open-source model, whose symbol is a lobster. Some of the nation’s most valuable tech and ecommerce firms, like Tencent and JD.com, have rolled out OpenClaw apps, while local governments have made millions of yuan in subsidies available for companies that develop atop the platform. A big moment occurred this month in Shenzhen, when hundreds of people gathered outside Tencent’s headquarters to watch a free demonstration of OpenClaw and get help from the firm’s engineers installing the software on laptops. Read an opinion piece about the lobster craze here . OpenClaw has suddenly become a massive growth opportunity for an economy that is expect...
NYC's Mamdani condemns Tuberville's anti-Muslim posts as "bigotry" toggle caption Andres Kudacki/FR170905 AP New York City Mayor Zohran Mamdani is condemning a series of anti-Muslim social media posts by Republican Sen. Tommy Tuberville of Alabama as "bigotry." On X, Tuberville reposted an image of Mamdani next to a photo of the deadly 9/11 terror attacks in New York City along with the words "the...
NYC's Mamdani condemns Tuberville's anti-Muslim posts as "bigotry" toggle caption Andres Kudacki/FR170905 AP New York City Mayor Zohran Mamdani is condemning a series of anti-Muslim social media posts by Republican Sen. Tommy Tuberville of Alabama as "bigotry." On X, Tuberville reposted an image of Mamdani next to a photo of the deadly 9/11 terror attacks in New York City along with the words "the enemy is inside the gates." Mamdani, the city's first Muslim mayor, has been the subject of repeated verbal attacks during the Ramadan season now underway. Speaking at an iftar dinner Thursday evening, a special meal held to break the daily Ramadan fast, Mamdani said many American Muslims face prejudice. Sponsor Message "When I hear such hatred and disdain unchecked in its rancor, I feel a loneliness and isolation that I know many of you have felt as well," Mamdani said. "Who here has been told, you do not belong in New York City? Who here has been told, go back where you came from?" On Thursday, Tuberville also claimed falsely that "Americans are being gunned down in the streets almost daily by Radical Islamists." Experts say attacks in the U.S. by Muslim extremists are rare and are "not resurgent," according to a 2025 study by the Center for Strategic and International Studies. Republican leaders have been largely silent about Tuberville's anti-Muslim posts. A growing number of Democrats, meanwhile, have condemned his statements. New York Sen. Chuck Schumer, the Democratic minority leader, described Tuberville's posts as "mindless hate." toggle caption Andres Kudacki/FR170905 AP "Muslim Americans are cops, doctors, nurses, teachers, bankers, bricklayers, mothers, fathers, neighbors, mayors, and more," Schumer said. "Islamophobic hate like this is fundamentally un-American." Vermont's Independent Sen. Bernie Sanders called Tuberville's attack on Mamdani "nothing less than blatant Islamophobic racism." Earlier this month, prominent far-right New York City radio host Sid Ro...
As the price of oil rises, investors are returning to energy stocks in a big way. There are many great opportunities among regular oil stocks and natural gas stocks. However, midstream plays like pipeline stocks are a strong choice as well, especially for a long-term investment horizon. Revenue and earnings for pipeline stocks are less volatile than those for exploration and production (E&P) or re...
As the price of oil rises, investors are returning to energy stocks in a big way. There are many great opportunities among regular oil stocks and natural gas stocks. However, midstream plays like pipeline stocks are a strong choice as well, especially for a long-term investment horizon. Revenue and earnings for pipeline stocks are less volatile than those for exploration and production (E&P) or refining and marketing stocks. At the same time, they are benefiting from long-term growth tailwinds, such as rising demand for natural gas amid the artificial intelligence (AI) data center boom. In addition to steady, growing bottom lines, pipeline stocks, in particular those that are structured as master limited partnerships (MLPs), pay out almost all of their income in the form of distributions. This gives these stocks high yields, making them attractive to income investors. Among the scores of high-yield (5% or higher forward dividend yield) pipeline stocks, the following three stand out as strong choices in today's market: Energy Transfer (ET 1.01%), Hess Midstream (HESM 0.90%), and MPLX (MPLX 0.75%). Energy Transfer is poised to profit from AI data center boom Since its founding 30 years ago, Energy Transfer has grown organically and through acquisitions to become one of America's largest midstream energy companies. The MLP owns or has an interest in over 140,000 square miles of midstream energy infrastructure, including 36.4% ownership of the Dakota Access Pipeline, a 50% interest in the Florida Gas Transmission pipeline, as well as extensive holdings within the Permian Basin and other top U.S. oil and gas exploration regions. Expand NYSE : ET Energy Transfer Today's Change ( -1.01 %) $ -0.19 Current Price $ 18.56 Key Data Points Market Cap $65B Day's Range $ 18.55 - $ 18.96 52wk Range $ 14.60 - $ 19.30 Volume 15M Avg Vol 15M Gross Margin 12.27 % Dividend Yield 7.07 % Currently, annual distributions from Energy Transfer give shares a forward yield of 7.3%. The MLP has ...
Key Points Energy Transfer owns and holds an interest in multiple major midstream energy infrastructure assets, and remains well positioned to sustain further distribution growth. Hess Midstream is utilizing both cash distributions and share repurchases to return capital to shareholders. MPLX offers a high distribution yield, and has a strong track record of high distribution growth. 10 stocks we ...
Key Points Energy Transfer owns and holds an interest in multiple major midstream energy infrastructure assets, and remains well positioned to sustain further distribution growth. Hess Midstream is utilizing both cash distributions and share repurchases to return capital to shareholders. MPLX offers a high distribution yield, and has a strong track record of high distribution growth. 10 stocks we like better than Energy Transfer › As the price of oil rises, investors are returning to energy stocks in a big way. There are many great opportunities among regular oil stocks and natural gas stocks. However, midstream plays like pipeline stocks are a strong choice as well, especially for a long-term investment horizon. Revenue and earnings for pipeline stocks are less volatile than those for exploration and production (E&P) or refining and marketing stocks. At the same time, they are benefiting from long-term growth tailwinds, such as rising demand for natural gas amid the artificial intelligence (AI) data center boom. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » In addition to steady, growing bottom lines, pipeline stocks, in particular those that are structured as master limited partnerships (MLPs), pay out almost all of their income in the form of distributions. This gives these stocks high yields, making them attractive to income investors. Among the scores of high-yield (5% or higher forward dividend yield) pipeline stocks, the following three stand out as strong choices in today's market: Energy Transfer (NYSE: ET), Hess Midstream (NYSE: HESM), and MPLX (NYSE: MPLX). Energy Transfer is poised to profit from AI data center boom Since its founding 30 years ago, Energy Transfer has grown organically and through acquisitions to become one of America's largest midstream energy companies. The MLP own...
Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE. Italian prosecutors are seeking a criminal trial against Amazon's European unit and four executives over alleged tax fraud exceeding €1b. The case relates to alleged large scale tax evasion and follows an earlier settlement paym...
Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE. Italian prosecutors are seeking a criminal trial against Amazon's European unit and four executives over alleged tax fraud exceeding €1b. The case relates to alleged large scale tax evasion and follows an earlier settlement payment that did not lead authorities to drop the criminal investigation. A judge will decide whether the case proceeds to trial, which could affect how VAT compliance is handled for non EU sellers using Amazon's platform. For investors watching Amazon.com, ticker NasdaqGS:AMZN, the legal headlines arrive with the stock trading at $209.53. Over the past year the share price has returned 8.1%, and over three years the return is 109.4%, compared with a more modest 38.4% over five years. Recent shorter term moves have been mixed, with a 4.3% decline over the past week and a 1.2% gain over the past month, while the stock is down 7.5% year to date. The potential Italian criminal case adds legal and reputational questions to a business that is central to European e commerce. If the court allows the trial to move forward, investors will likely focus on any changes to tax and VAT rules for non EU sellers using Amazon's marketplace, as these could affect how the platform operates and how costs are shared across its ecosystem. Stay updated on the most important news stories for Amazon.com by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Amazon.com. NasdaqGS:AMZN 1-Year Stock Price Chart Is Amazon.com's balance sheet strong enough for future acquisitions? Dive into our detailed financial health analysis. The potential Italian criminal trial comes at a time when Amazon is heavily using bond markets to fund long dated spending on cloud and AI infrastructure. Italy’s prosecutors are alleging tax fraud of more than €1b tied to h...
The yen fell to its weakest level since July 2024 as a deepening war in the Middle East pushes up oil prices. The Japanese currency inched 0.1% lower to 159.46 against the greenback as Brent oil traded near $100 a barrel following one of the most volatile trading weeks ever. Investors are bracing for more upheaval as Iran pledged to keep the Strait of Hormuz effectively shut. Higher crude oil pric...
The yen fell to its weakest level since July 2024 as a deepening war in the Middle East pushes up oil prices. The Japanese currency inched 0.1% lower to 159.46 against the greenback as Brent oil traded near $100 a barrel following one of the most volatile trading weeks ever. Investors are bracing for more upheaval as Iran pledged to keep the Strait of Hormuz effectively shut. Higher crude oil prices are adding pressure to inflation in Japan, which is heavily dependent on Middle Eastern petroleum. Meanwhile, the dollar has stood out as the asset of choice as investors rush to safety. The slide in the yen brings it closer to levels where authorities previously intervened to support the currency. Still, strategists see a high threshold for intervention as the Iran conflict and resilient US data have pushed the dollar higher on fundamental grounds. Japanese Finance Minister Satsuki Katayama told reporters on Friday that financial authorities are staying in closer contact with their US counterparts than usual, and that she would refrain from commenting on the topic of currency intervention. Officials have indicated they are more concerned about volatility and the pace of currency moves rather than specific levels. Prime Minister Sanae Takaichi ’s resounding lower house election victory last month briefly supported the yen, but the currency has since come under renewed pressure following media reports that she is wary of further interest-rate hikes and her nomination of two dovish Bank of Japan board members. Long-Trusted Haven Trades Are Failing as Gold, Treasuries Fall Dollar Reclaims Ultimate Haven Role as War, Inflation Angst Grow Rising Oil Prices Threaten Takaichi’s Agenda, Says Monex’s Koll Yen Near Year’s Low as Strategists See Higher Intervention Bar
Cambricon Technologies, a Chinese semiconductor designer seen as a potential alternative to US giant Nvidia, will pay its maiden dividend after posting its first full-year profit since listing in 2020. Cambricon, dubbed “little Nvidia”, planned to distribute a cash dividend of 15 yuan (US$2.2) for every 10 shares held, totalling more than 632 million yuan, according to its filing to the Shanghai S...
Cambricon Technologies, a Chinese semiconductor designer seen as a potential alternative to US giant Nvidia, will pay its maiden dividend after posting its first full-year profit since listing in 2020. Cambricon, dubbed “little Nvidia”, planned to distribute a cash dividend of 15 yuan (US$2.2) for every 10 shares held, totalling more than 632 million yuan, according to its filing to the Shanghai Stock Exchange on Thursday. Another 20 million yuan would be allocated for share buy-backs, taking the total outlay to 652 million yuan, representing nearly one-third of its 2025 net profit, the company said. The plan has been approved by the board, but is pending shareholders’ approval. Advertisement After years of operating at a loss, Beijing-based Cambricon swung to a net profit of 2 billion yuan last year, as the company cashed in on the strong demand for chips amid an artificial intelligence boom. Its flagship “Siyuan” series, targeting data centres and cloud-based AI acceleration, has been deployed across multiple server manufacturers. The Siyuan 220 AI chip for edge computing achieved sales of more than 1 million units since its launch in 2019, according to the filing. Advertisement Cambricon has managed to synchronise compatibility with major Chinese AI models. For example, its chips enabled full support from day one for DeepSeek-V3.2 when the new model was released in December. The company also said that its chips had shown “continuous adaptation” with Alibaba Group Holding’s Qwen3-Next and Qwen3-VL AI models, and with Tencent Holdings’ Hunyuan AI model. Alibaba owns the South China Morning Post.
Megacap stocks are behemoths that set the tone for their industries, and their massive scale typically leads to wide moats. However, the downside is that most have already exploited their existing market opportunities and must invest heavily to expand further, a risky proposition. These trade-offs can cause headaches for even the most seasoned professionals, which is why we started StockStory - to...
Megacap stocks are behemoths that set the tone for their industries, and their massive scale typically leads to wide moats. However, the downside is that most have already exploited their existing market opportunities and must invest heavily to expand further, a risky proposition. These trade-offs can cause headaches for even the most seasoned professionals, which is why we started StockStory - to help you find high-quality companies that can grow their earnings no matter what. Keeping that in mind, here are two industry titans whose competitive advantages create flywheel effects and one whose existing offerings may be tapped out. One Mega-Cap Stock to Sell: GE Vernova (GEV) Market Cap: $224.3 billion Born from the energy business of industrial giant General Electric in a 2023 spin-off, GE Vernova (NYSE:GEV) designs, manufactures, and services power generation equipment and grid technologies to help customers build more reliable and sustainable electric systems. Why Does GEV Fall Short? Scale is a double-edged sword because it limits the company’s growth potential compared to its smaller competitors, as reflected in its below-average annual revenue increases of 3.6% for the last four years Gross margin of 16.2% reflects its high production costs Persistent operating margin losses suggest the business manages its expenses poorly GE Vernova is trading at $831.75 per share, or 60.2x forward P/E. If you’re considering GEV for your portfolio, see our FREE research report to learn more. Two Mega-Cap Stocks to Watch: Broadcom (AVGO) Market Cap: $1.59 trillion Originally the semiconductor division of Hewlett Packard, Broadcom (NASDAQ:AVGO) is a semiconductor conglomerate spanning wireless communications, networking, and data storage as well as infrastructure software focused on mainframes and cybersecurity. Why Will AVGO Outperform? Annual revenue growth of 32.5% over the past two years was outstanding, reflecting market share gains this cycle Offerings are difficult to rep...
Sven Piper S&P Dow Jones Indices is said to be considering changes to rules governing how companies join the S&P 500 Index ( SPX ), a move that would potentially fast-track SpaceX’s ( SPACE ) entry after its IPO. The rule change could mean that billionaire Elon Musk’s space transportation and satellite company would see a wave of billions of dollars in forced buying. Funds that track the index mus...
Sven Piper S&P Dow Jones Indices is said to be considering changes to rules governing how companies join the S&P 500 Index ( SPX ), a move that would potentially fast-track SpaceX’s ( SPACE ) entry after its IPO. The rule change could mean that billionaire Elon Musk’s space transportation and satellite company would see a wave of billions of dollars in forced buying. Funds that track the index must buy newly added stocks, and roughly $24 trillion is tied to the S&P 500, according to Bloomberg Intelligence. The index provider is engaging with stakeholders to determine whether there’s demand for changing rules, and no decision has been made and S&P would still have to launch a formal consultation that would last several weeks before any change can be made, Bloomberg reported. The potential move comes as large private companies including OpenAI ( OPENAI ) and Anthropic PBC ( ANTHRO ) are also considering IPOs as soon as this year. If all of the 10 largest venture-backed U.S. companies were to list and join the S&P 500, they would make up about 4.5% of the index — more than the weight of the energy sector, the index provider said in a blog post earlier this month. The report added that SpaceX ( SPACE ) could seek a valuation in the IPO of more than $1.75 trillion in a step that would raise as much as $50 billion. The company is making early inclusion on the Nasdaq 100 a necessary condition of its potentially choosing to list on Nasdaq’s exchange, Reuters has reported. More on Tesla, S&P 500 Futures, etc. Hormuz Crisis Is Forcing Europe And Japan Into Hawkish Mode: Is The U.S. Next? U.S. Manufacturing Wakes Up Don't Bet Only On U.S. Stocks For The Next Decade Musk expects Digital Optimus ready for use in six months Tesla's energy business wins approval to supply power across Britain
Earnings Call Insights: El Pollo Loco Holdings, Inc. (LOCO) Q4 2025 Management View CEO Elizabeth Williams highlighted "strong fourth quarter results that cap off a transformative second year" and noted "positive quarter of same-store sales growth, including stable traffic despite the ongoing macroeconomic challenges." Williams stated, "This top line momentum, combined with our team's relentless f...
Earnings Call Insights: El Pollo Loco Holdings, Inc. (LOCO) Q4 2025 Management View CEO Elizabeth Williams highlighted "strong fourth quarter results that cap off a transformative second year" and noted "positive quarter of same-store sales growth, including stable traffic despite the ongoing macroeconomic challenges." Williams stated, "This top line momentum, combined with our team's relentless focus on operational excellence also enabled us to achieve better-than-expected restaurant level margins." Williams detailed the success of new menu items: "Our Double Chicken Street Corn and Queso Crunch Burrito Bowls that we launched in late September...exceeding our expectations in both guest response and sales contribution." Both bowls are now permanent menu items. Additionally, she described a robust innovation pipeline with upcoming launches including Loco Tenders and new beverage concepts. The company reported expanding its footprint to 9 states with 9 new restaurant openings in 2025, 6 of which were outside California and 7 utilizing second-generation sites to lower build costs. Williams shared, "The restaurants we've opened since 2024 are averaging over $2 million annually." Williams announced the addition of a Chief Technology Officer and a new VP of Franchise Recruiting to accelerate franchise development and technology deployment. CFO Ira Fils reported, "For the fourth quarter ended December 31, 2025, total revenue was $123.5 million compared to $114.3 million in the fourth quarter of 2024." Fils also noted, "Adjusted EBITDA for the fourth quarter of 2025 was $16.9 million compared to $14.3 million in the fourth quarter of 2024." Outlook Williams stated the company is "targeting approximately 18 to 20 new restaurant openings with 3 to 4 being company-owned locations" in 2026, with the majority outside California. Fils provided 2026 guidance: "System-wide comparable store sales growth of 2% to 3%, the opening of 3 to 4 company-operated restaurants and 15 to 16 fra...
Donald Trump on Thursday shrugged off the economic toll the war in Iran is taking on gas prices across the US, writing on social media that “when oil prices go up, we make a lot of money”. The president’s comment came as the American Automobile Association reports that the average price for a gallon of gas hit $3.60, a week after the beginning of the US-Israel military operation against Iran promp...
Donald Trump on Thursday shrugged off the economic toll the war in Iran is taking on gas prices across the US, writing on social media that “when oil prices go up, we make a lot of money”. The president’s comment came as the American Automobile Association reports that the average price for a gallon of gas hit $3.60, a week after the beginning of the US-Israel military operation against Iran prompted the largest price spike since the opening days of Russia’s invasion of Ukraine in 2022. Costs at the pump have increased in line with the price of crude, which climbed above $100 per barrel on Thursday as Iran launched attacks on oil facilities across the Middle East, despite the release of global petroleum reserves intended to stabilize markets. Catching up? Here’s what happened Wednesday 11 March.
Caller identity platform Truecaller recently launched a new feature that lets one person become an admin of a family group, get alerts about fraud calls received by other members, and even end a call on their behalf if they suspect a family member might get scammed. The company, which has over 450 million users, first launched the feature in December in a handful of countries like Sweden, Chile, M...
Caller identity platform Truecaller recently launched a new feature that lets one person become an admin of a family group, get alerts about fraud calls received by other members, and even end a call on their behalf if they suspect a family member might get scammed. The company, which has over 450 million users, first launched the feature in December in a handful of countries like Sweden, Chile, Malaysia, and Kenya. Truecaller said that after seeing promising results, it decided to roll it out worldwide, including in India, the company’s biggest market. The feature is free, and users can create groups even if they are not on a paid Truecaller plan. Image Credits: Truecaller With this feature, the tech-savvy member of a family or friends group can become the admin of an up to five-member group. Once the other members join the group, the admin can get alerts about potentially fraudulent calls those members receive. If the admin believes that the call could harm the member, they can remotely end the call as well. While the admin can get alerts for fraud calls when a member is using iOS or Android, they can only end calls for members on Android. On Android, members can also grant permission to the admin to detect real-time activity such as walking or driving, battery level, and phone sound settings (to check if the phone is in silent mode). Truecaller said this is helpful for admins to keep tabs on elderly members and to only call them when they are not walking or driving. Image Credits: Truecaller The admin can also block certain numbers and international calling codes, and share a blocklist with group members. Truecaller noted that the admin can’t see the non-spam call history or SMS history of group members. “I think, unfortunately, all of us know somebody or another in our families or friends who have been impacted by fraud,” Kunal Dua, VP of Product, at Truecaller, told TechCrunch over a call. “In that sense, it’s a fundamental shift for Truecaller in terms of what...
(RTTNews) - Indian shares opened lower on Friday to extend losses from the previous session as the conflict in Iran and across the Middle East intensified. UN Secretary-General Antonio Guterres has expressed serious concern over the escalating crisis in West Asia, warning that the situation poses a major threat to global peace and security. The benchmark BSE Sensex was down 697 points, or 0.9 perc...
(RTTNews) - Indian shares opened lower on Friday to extend losses from the previous session as the conflict in Iran and across the Middle East intensified. UN Secretary-General Antonio Guterres has expressed serious concern over the escalating crisis in West Asia, warning that the situation poses a major threat to global peace and security. The benchmark BSE Sensex was down 697 points, or 0.9 percent, at 75,337 in early trade, while the broader NSE Nifty index dipped by 243 points, or a little over 1 percent, to 23,394. Among the prominent decliners, HDFC Bank, Tech Mahindra, Eternal, IndiGo, UltraTech Cement, BEL, Tata Steel and Larsen & Toubro plummeted 2-3 percent. Godrej Properties fell 1.3 percent after announcing it has entered the Coimbatore real estate market. Raymond Realty tumbled 2.6 percent after receiving a show cause notice from the Income Tax Department. Manorama Industries lost 3 percent on fund raising reports. Gravita India dropped 2 percent after it signed a pact to acquire a 98.95 percent stake in Rashtriya Metal Industries for Rs. 559.08 crore. ACME Solar Holdings soared more than 5 percent after commissioning the second phase of its battery energy storage system (BESS) project in Rajasthan. KPI Green Energy rallied 3.5 percent. The company said it has energized an additional 35 MWp of solar capacity. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.