Elon Musk launches Tesla robotaxi in Austin: Here's how rides are priced
Tesla's long-hyped robotaxi was launched on Sunday afternoon, as per CEO Elon Musk who announced the rollout on his platform X (formerly Twitter). The first rides, priced at a flat $4.20 are now being offered in parts of Austin using driverless Tesla Model Y vehicles, stated a Reuters report. Several Tesla robotaxis were spotted Sunday morning navigating South Congress, a bustling neighborhood in the Texas capital, with no driver behind the wheel. A vehicle Tesla is using for robotaxi testing purposes on Oltorf Street in Austin(Bloomberg)
Several social media users posted videos of robotaxis and noted that a single person was seated in the passenger seat, acting as a 'safety monitor'.
The electric vehicle maker has not issued an official statement or provided details on the scope of the Tesla robotaxi launch, but a small group of influencers were invited to participate in a closely monitored pilot featuring 10-20 vehicles operating within a geofenced zone of Austin.
Also read: Indian CEO slams Tesla for returning $1,000 fee: 'Elon Musk, do you know...' Texas lawmakers move to regulate autonomous vehicles
The launch came days after Texas Governor Greg Abbott signed a new legislation requiring autonomous vehicle operators to obtain a state permit. Though the law does not go into effect until September 1, it signals a shift from Texas' previously hands-off approach to autonomous driving regulation.
The law mandated operators like Tesla to attest to the safety of their AVs, provide emergency protocols for police and first responders, and comply with Level 4 autonomy standards, which means vehicles can drive themselves within specific conditions sans human intervention. Tesla deviating from norms by not relying on lidar/radar
The Reuters report stated that Tesla was bucking industry norms by relying exclusively on cameras, without lidar or radar. Additionally, Musk has long argued that relying on cameras make Tesla's system both safer and more scalable, though critics have cited safety risks and past delays as cause for concern.
Musk has spoken about self-driving cars over the years and now he is promising that safety will be a top priority as they roll out Tesla robotaxis in Austin. These cars will steer clear of bad weather, tricky intersections, and underage riders, and will only drive in areas where they are certain everything is safe, Musk said.
The launch of Tesla's robotaxi is a big step for the company's future plans. Analysts think a lot of Tesla's long-term worth is dependent on how well they can commercialize their robotaxis and AI technologies, like humanoid robots.
However, it is not all smooth sailing. Tesla's rival Cruise, owned by GM, recently had to suspend its operations following an accident, and both Waymo (Alphabet) and Zoox (Amazon) are operating under heavy regulatory watch. Tesla's unique approach, relying purely on cameras, sets it apart from the competition, but it also brings its own set of safety and liability issues. FAQs Q: Is Tesla launching robotaxis in Austin today?
Yes, Elon Musk announced that Tesla has begun offering limited robotaxi rides in Austin as of Sunday afternoon. Q: How much do Tesla robotaxi rides cost?
Tesla is offering the initial rides at a flat rate of $4.20. Q: Are the Tesla robotaxis fully driverless?
Yes, the vehicles operate without a driver but currently have a front-seat 'safety monitor' during this pilot phase. Q: What level of autonomy do these vehicles have?
Tesla's robotaxis are classified as Level 4 autonomous, meaning they can drive themselves under specific conditions without human input.
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Time of India
18 minutes ago
- Time of India
Nifty faces key resistance at 25,200 amid geopolitical tensions
Following Friday's rally, Nifty now faces a crucial test near 25,200. Analysts say a sustained move above this level could pave the way for a further rise toward 25,700–25,900, but also caution that geopolitical uncertainties may continue to inject volatility into the markets. On the downside, support at 24,500 remains crucial with stock-specific action in banks, midcaps, and select names like M&M, BEL, and CAMS offering trading opportunities. RUCHIT JAIN VICE PRESIDENT, MOTILAL OSWAL FINANCIAL SERVICES Where is Nifty headed this week? Geopolitical tensions have led to a consolidation phase in Indian markets over the past month. However, this appears to be a time-wise corrective phase within an uptrend, with Nifty holding above its support zone of 24,500– 24,450—a crucial near-term level. The immediate hurdle for the index lies in the 25,200–25,250 range. A breakout above this could propel the index towards 25,500–25,700. On the downside, 24,800 is the immediate support, followed by positional support at 24,450. Trading strategies for the week: Traders are advised to focus on stocks that have shown relative strength over the past month. Mahindra & Mahindra (M&M) has given a breakout, signalling a bullish trend. Exchange-related stocks such as MCX, and defence names like BEL, BEML, and BDL are expected to extend their uptrend in the short term. Agencies Live Events PRITESH MEHTA EVP – INSTITUTIONAL EQUITIES, YES SECURITIES Where is Nifty headed this week? Despite elevated global uncertainty, inter-market signals suggest relative strength for Indian equities. Friday's 300-point rally was a welcome shift, as the market had been struggling to find a trending move. More importantly, the index managed to sustain its gains without cooling off. Our customised Top 10 Nifty index gained momentum after weeks of consolidation, indicating strength in large caps. Our breadth indicator also showed a bullish crossover, with ~58% of index constituents displaying a bullish bias. An ABC breakout, along with a double-top buy signal on the Point & Figure chart, combined with improving breadth, suggests a potential move towards the 25,700 zone. Trading strategies for the week: Improved breadth, renewed traction in banks and financials, and support in the Midcap 100 index around its 10-column average all point to further upside. Among sectors, our customised Capital Markets and Defence indices are bouncing from support. BEL, CAMS, and CDSL are showing multiple bullish patterns and could rally 10–14% in the coming weeks. The ratio of IT to Nifty has followed through on a bullish turtle breakout, indicating a potential comeback for select IT stocks. ARPAN SHAH HEAD – TECHNICAL RESEARCH, MONARCH NETWORTH CAPITAL Where is Nifty headed this week? Nifty has been consolidating within the 24,500–25,200 range for past six weeks, lacking a clear directional trend. Despite absorbing geopolitical shocks, including the India-Pakistan conflict, the market has managed to hold key support levels. Friday's session ended with a strong bullish candlestick formation, indicating that a breakout above 25,200 could trigger short-covering and open upside targets of 25,600–25,900. The banking index, which has been consolidating near its all-time high, is expected to move in line with the benchmark, with upside targets of 57,200–58,000. Trading strategies for the week: The midcap index has formed a strong reversal at its breakout level. Traders can consider buying for upside targets of 13,400–13,600. The IT index has been gradually inching up, and offers a favourable risk-reward setup. Investors may accumulate HCL Tech, Kaynes, and R Systems at current levels. PSU bank stocks, including SBI and Bank of Baroda, have seen profit booking post the RBI rate cut and are now near support, both can be added at current prices. Defence stocks, having rallied sharply in the last 3–4 months, now present an unfavourable risk-reward and are best avoided. Among mid- and small-caps, CGCL, Praj Industries, GPIL, and Bharat Rasayan are good accumulation bets at current levels.
Mint
22 minutes ago
- Mint
Top three stocks to buy today, 23 June, as recommended by Ankush Bajaj
On Friday, 20 June, the Indian stock market opened with a sharp gap-down, driven by global nervousness and initial profit-booking. However, as the session progressed, investor sentiment improved, and the market steadily moved upward throughout the day. The recovery was broad-based, reflecting strong buying interest and resilience across key sectors. Top 3 stocks for today, recommended by Ankush Bajaj Why it's recommended:Indus Towers has broken out of a falling wedge pattern on the daily chart — a bullish reversal structure that indicates potential for trend reversal. Additionally, on the 45-minute chart, the stock has confirmed a triangle breakout, adding to the bullish conviction. The Relative Strength Index (RSI) on the daily chart is at 62.90, suggesting strengthening momentum. Key metrics: Resistance level: ₹419 (short-term target) Support level: ₹397 (pattern invalidation level) Pattern: Falling wedge breakout on the daily chart; triangle breakout on the 45-min chart. RSI: 62.90 on daily chart, indicating bullish strength Technical analysis:The confluence of breakouts on both daily and intraday timeframes strengthens the bullish view. The RSI in the 60+ zone reflects solid momentum, and the breakout structure is clean. A move above ₹419 could open up further upside in the short term, provided the breakout sustains with volume confirmation. Risk factors:Failure to hold above ₹397 would invalidate the bullish pattern and may lead to selling pressure. A lack of volume follow-through may weaken the breakout signal. Buy at: ₹404.30 Target price: ₹419 Stop loss: ₹397 Also read: Fed's forecast 'Fog' adds more clouds to stock market outlook Why it's recommended:BEL has closed at a new all-time high, indicating strong bullish sentiment. The RSI is above 72 on the daily chart, showing strong momentum and suggesting the trend may continue. On the 15-minute chart, a rectangle breakout has been confirmed, supporting a continuation of the uptrend in the near term. Key metrics: Resistance level: ₹426– ₹430 (short-term target range) Support level: ₹396 (pattern invalidation level) Pattern: Rectangle breakout on the 15-min chart; breakout to new life-time high on daily chart RSI: Above 72 on daily chart, suggesting overbought strength and trend continuation Technical analysis: BEL is showing strong price action with volume support at higher levels. The breakout above its previous high, combined with short-term consolidation breakout, makes it a high-conviction trade. While the RSI is in the overbought zone, this can persist during strong trends. Risk factors: High RSI may lead to brief consolidations or minor pullbacks. A drop below ₹396 would negate the current bullish structure. Buy at: ₹408.25 Target price: ₹426– ₹430 Stop loss: ₹396 Why it's recommended: Aeroflex has delivered two consecutive strong green sessions accompanied by high volume, indicating strong buying interest. The stock is showing positive relative strength and is currently in a healthy pullback mode, which offers a good entry point in the broader uptrend. Key metrics: Resistance level: ₹235– ₹240 (short-term target range) Support level: ₹189 (pattern invalidation level) Pattern: High-volume continuation with positive relative strength and pullback support RSI: Not overbought; momentum building with volume support Technical analysis:The stock is showing signs of sustained strength after a recent correction, with increasing volume lending credibility to the bounce. Positive relative strength suggests it is outperforming its peers, and the setup indicates potential for continued upside toward ₹235– ₹240. Risk factors:Any dip below ₹189 could suggest a failed pullback and may invite selling. Volume needs to remain elevated to confirm the current momentum. Buy at: ₹204.45 Target price: ₹235– ₹240 Stop loss: ₹189 Also read: Paint industry's first dip in 20 years—is a rebound next? How the market performed on Friday The Nifty 50 ended the session 319.15 points or 1.29% higher to close at 25,112.40. The BSE Sensex also closed in the green, gaining 1,046.30 points or 1.29% to finish at 82,408.17. Nifty Bank also saw weakness early on but recovered ground, ending 675.40 points or 1.22% higher at 56,252.85. The realty index gained 2.11%, infrastructure rose 1.73%, and PSU banks were up 1.64%, showing strength in domestic-facing segments. No sector ended in the red, underscoring the recovery mood across the market. Among individual gainers, Jio Finance led with a 3.57% gain, backed by strong institutional buying. Bharti Airtel climbed 3.18%, and Trent added 3.04%, indicating continued strength in select auto and consumer names. On the flipside, Bajaj Auto fell 2.52%, while Hero MotoCorp declined 2.01%, and Dr. Reddy's slipped 1.57% as profit-booking set in after recent rallies. Nifty technical analysis: daily & hourly The Nifty opened flat but maintained a steady upward trajectory throughout the session, ultimately closing with robust gains of around 319 points. This move marked a significant breakout above the recent consolidation zone of 24,700–25,000 on the daily charts, indicating a likely continuation of the ongoing uptrend. Notably, the index ended the day above the key psychological level of 25,000, reinforcing the bullish sentiment. With this breakout, the next upside target appears to be around 25,600, which coincides with the upper Bollinger Band on the weekly chart. From a technical standpoint, the outlook remains positive. Both the daily and hourly momentum indicators have registered a bullish crossover, typically interpreted as a buy signal. The 20-day moving average, positioned at 24,860, is expected to serve as a key support level in the near term. Also read: Cracks in earnings of tile and plastic pipe makers may widen in Q1 Additional technical observations show that the Nifty is trading comfortably above both its 20-day and 40-day exponential moving averages, which are currently at 24,862 and 24,597 respectively. However, the daily momentum indicator (MACD) still reflects a negative crossover, with the daily MACD reading at 121, suggesting some caution. On the hourly chart, the index remains above the 20-hour and 40-hour moving averages at 24,873 and 24,896 respectively, and the hourly MACD is at 55, supporting continued strength. The Relative Strength Index (RSI) also reflects bullish momentum, with a daily RSI at 59 and hourly RSI at 65. Options data further confirms the bullish undertone. The Put-Call Ratio (PCR) stands at 1.12, indicating more aggressive put writing relative to calls. Total Put Open Interest (OI) is at 16.10 crore, exceeding the Call OI of 14.21 crore, with a net difference of 1.90 crore in favor of puts. This suggests a bullish positioning in the options space. The maximum Call OI is concentrated at the 26,000 strike, while the highest Call OI change was observed at the 27,000 strike. On the put side, the 25,000 strike holds both the maximum OI and the largest change in OI, indicating strong support at this level. The total change in Put OI (6.15 crore) outpaced that of Calls (3.38 crore), resulting in a 2.77 crore difference — again highlighting bullish sentiment. The overall OI and change in OI trends are both marked as bullish. Lastly, India VIX, the volatility index, declined by 4.10% to settle at 13.67, suggesting reduced market uncertainty and supporting the stability of the current uptrend. In summary, the technical structure, momentum indicators, options data, and declining volatility all point towards a strong and sustained bullish trend, with 25,600 as the next immediate resistance level. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
28 minutes ago
- Mint
Corporate largesse hits record ₹5 trillion amid profit slowdown
In a bold display of corporate confidence, Indian companies have handsomely rewarded shareholders with a record ₹4.9 trillion in dividends in FY25, even as profit growth slowed. The generous payout underscores a strategic shift among firms to prioritize returns for investors over aggressive reinvestment, signalling both optimism and caution in a volatile economic climate. A Mint analysis of 496 BSE 500 companies, based on Capitaline data that uses both audited and unaudited numbers (including proposed dividends), shows that dividend payouts rose 11% year-on-year in FY25, outpacing net profit growth of 9.5%. This marks the first such divergence in three years. In contrast, profit jumped 29% in FY24 while dividends grew a modest 7.5%. In FY23 too, firms were less generous, when profit grew 11% but dividend payouts rose only 8.8%. The trend reversal in FY25 points to a strategic recalibration—corporates are choosing to reward shareholders more aggressively even as earnings momentum slows. Also read Companies ring the IPO doorbell, but the reception is cold "Rising dividends outpacing profits reveal corporate confidence in rewarding shareholders despite modest earnings growth," said Akshat Garg, assistant vice-president, Choice Wealth. 'While this signals stability to investors, it may also reflect caution—companies could be limiting reinvestment amid uncertain growth prospects." Meanwhile, beyond just dividends from profits, Hemant Nahata, executive vice president, strategy at Yes Securities, offers a comprehensive view on shareholder payback, factoring in operating cash flows. 'Shareholder returns should be viewed holistically, combining dividends and buybacks," he noted. 'When we evaluate shareholder payback, we focus on how companies deploy their operating cash flows—not just profits. In FY25, Indian corporates returned around 29% of their operating cash flows to shareholders through dividends and buybacks, a marginal rise from 28.8% in FY24 and slightly below 31–32% in FY23, reflecting a consistent payout trend," he highlighted further. While these generous giveaways reached record highs in the previous year, outpacing even the bottomline growth of the companies, it translated into a payout ratio of 35.2% (as a share of profit) in FY25. This ratio remains significantly below the decade's average of 42%, implying companies are distributing more but are also retaining a larger share of earnings compared to historical trends. 'This shows a shift in strategy. Companies are retaining slightly more profits, possibly due to fewer growth opportunities or macro uncertainty," said Pranay Aggarwal, chief executive officer of Stoxkart. Manufacturing firms, in particular, appear cautious. 'Many companies are taking a wait-and-watch approach on capital allocation amid geopolitical uncertainty. Past missteps like the 2022 downturn in chemical firms due to poorly timed capex highlight the risks of aggressive investment, especially in capital-intensive sectors," noted Sreeram Ramdas, vice president, Green Portfolio PMS. Further, since FY22, payout ratios have seen a decline, reflecting cautious optimism in capital allocation. 'The declining payout ratio shows that companies are adjusting dividend policies to align with more conservative cash flow assumptions," Aggarwal added. Also read Is India's premium at risk? As Israel-Iran conflict sparks FPI outflows, valuation debate rages Despite this, around 62% of companies in the sample have been unwaveringly sharing the bounties over the past five years. Among these, around 18% have been bestowing their shareholders with higher dividends each year since 2020-21. In FY25, around 55% of firms doled out higher dividends compared to the previous year while only 17% firms saw a decline. 'The recent rise in dividends is driven more by past profitability and reserves than by sustained earnings growth. If macro headwinds continue, payouts may moderate," said Asutosh Mishra, head, institutional equities, Ashika Stock Broking. Moreover, the top ten dividend payers accounted for roughly 40% of India Inc's total dividend payouts in FY25, distributing a staggering ₹1.9 trillion to investors. 'This reflects confidence from large-cap firms with stable cash flows," said Mishra. 'Some may be using dividends tactically in a high-liquidity environment. A company-specific lens is essential to avoid overinterpretation." Leading the pack was TCS with payouts of over ₹45,000 crore, exemplifying the IT sector's cash-rich dominance. Close behind were HDFC Bank and ITC with payouts nearing ₹17,000-18,000 crore, while Coal India, ONGC, and Vedanta each contributed between ₹15,000-16,000 crore, reflecting the breadth of dividend leadership across sectors. For investors looking at dividend plays, Garg from Choice Wealth stresses the importance of diversification and fundamental strength. 'While reliable dividend payers offer steady income, concentrated exposure increases risk. 'A balanced portfolio with fundamentally strong and consistent dividend-growers is key." This is the first part of a four-part series of data stories on the dividends declared by India Inc.
