The funds will be utilized primarily to create and market a world-class electric SUV portfolio with advanced technologies
Stocks to watch today: IT behemoth Tata Consultancy Services (TCS) is slated to report June quarter 2022 numbers (Q1FY23); Dr Reddy's received two observations from USFDA for its Andhra plant
CLOSING BELL: It was, largely, a broad-based rally where the Nifty PSU Bank index advanced the most, up 3.4 per cent
Shares of Elecon Engineering Company hit an over 14-year high of Rs 298.80 in the intra-day trade on Thursday
In the past six months, the stock soared 32 per cent, as against 9 per cent decline in the S&P BSE Sensex.
Analysts expect EBIT margin to decline sequentially due to higher retention costs, wage revision, and increased travel costs. They peg margins in the range of 100 to 150 basis points (bps).
The strong outperformance in auto sector is mainly due to pick up in pace of monsoons, cut in excise duty on fuels, and decline in global crude prices
Rajratan is the sole supplier of bead wire to some of the leading companies in the tyre industry and expects to further improve its market share in the Indian market.
The company said jewellery division had a good start to FY23 with robust sales on the auspicious occasion of Akshaya Tritiya in May month after 2 years of Covid induced lockdowns in this period
Stocks to Watch: Titan on Wednesday said its sales in the April-June quarter were up nearly three-fold on a year-on-year basis, helped by a low base of the Covid-19 impacted quarter in the last year.
Despite a 0.8 per cent fall in heavyweight Reliance, Bajaj twins, HUL, Asian Paints, Maruti, Titan, Kotak Bank and Nestle led the upmove on the Sensex, moving up to 4.8 per cent higher.
The company expects the positive trend to continue in the coming months, on the back of a decent monsoon, and encouraging farm activity.
TII's diversified approach to de-risk from auto sector and concentrate more on other industrial segments (like railways & powers through the inorganic form) to support long-term revenue visibility.
Oil India was down 8 per cent at Rs 176, while ONGC shed 6 per cent in traes on Wednesday.
The company is scheduled to announce June quarter results on Saturday, July 9, 2022.
Stock market LIVE updates: As of 7:28 AM, the SGX Nifty Futures quoted 15,881 levels, hinting an upside of 46-odd points on the Nifty50.
Orient Bell hit a fresh all-time high of Rs 779 as the company's stock rallied 13% on the BSE
In the past 11 trading days, the stock price of PSP Projects has zoomed 31 per cent after promoters bought shares from the open market.
Overall, the management believes that the worst is behind the two-wheeler industry and expects the industry to get back on its growth path.
The MoU is for setting up a greenfield 4GW solar cell and 4GW solar module manufacturing plant in Tirunelveli district of Tamil Nadu