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Tata Motors denies reports of JLR unit sake sale
Posted on 1st March 2019
Tata Motors Ltd on Friday denied media reports that it was exploring options for its ailing luxury car unit Jaguar Land Rover Automotive Plc.

Two media reports said the company was considering options including a minority stake sale in the JLR unit or finding a venture partner that would jointly develop vehicles and lower costs.

The reports of a potential stake sale drove Tata Motors shares up as much as 3.7 % to 184 rupees. The stock pared some of the gains and ended up 1.6%.

"There is no truth to the rumours that Tata Motors is looking to divest its stake in JLR," a Tata Motors spokesperson told Reuters.

Tata Motors posted its biggest-ever quarterly loss in Indian corporate history of about $4 billion last month, hurt by slumping China sales.

The company also warned the Jaguar Land Rover (JLR) unit, which brings in most of its revenue, would swing to an operating loss in the year to March versus an earlier projection for breakeven, given weak sales at the luxury British carmaker.

The company may prefer to keep control of JLR, and rather seek fresh equity from investors, BloombergQuint said citing a Bloomberg report.

The discussions are at an early stage and Tata Motors has held preliminary talks with potential advisers, ET Now reported.


Related Companies: Tata Motors   

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Sensex plunges over 550 points, Nifty below 11,500
Posted on 19th July 2019
Mumbai: Extending losses for the second consecutive session, market benchmark BSE Sensex plunged 560 points Friday after the government thwarted hopes of a tax relief for FPIs.

Led by a sell-off in auto and banking stocks, the 30-share index cracked 560.45 points or 1.44 per cent to settle at 38,337.01. It hit an intra-day low of 38,271.35 and a high of 39,058.73, swinging 787 points. Similarly, the broader NSE Nifty sank 177.65 points or 1.53 per cent to 11,419.25.


WhatsApp could soon change your chat experience with new voice message feature
Posted on 19th July 2019
WhatsApp is reportedly adding granular improvements to its voice message feature on iOS. Currently, when you get a notification for a voice message, you have to open the app to be able to listen to it. Unlike the texts and photos, the voice messages cannot be played from the notification shade. WhatsApp is now testing preview for voice messages in the notification panel on iOS.

Vodafone Idea picks Bank of America, Morgan Stanley for ₹130 billion fiber assets sale
Posted on 19th July 2019
Vodafone Idea Ltd. has hired Bank of America Corp. and Morgan Stanley to help sell its fiber assets as India’s largest mobile carrier by users seeks to bolster its finances, people familiar with the matter said.

The bankers will initiate discussions with potential buyers for the fiber assets, which could be valued at as much as ₹130 billion ($1.9 billion), the people said, asking not be identified as the talks are private.


Sri Lanka signs agreement with India to upgrade railway lines
Posted on 19th July 2019
Sri Lanka has signed an agreement with India to upgrade tracks in a key railway segment connecting the north and south at a cost of $ 91.26 million.

This is the first time in 100 years that the 130 km-long-tracks, running from Maho town in the North Western Province to Omanthai in the Northern Province, are being upgraded.


L&T bags ‘significant’ orders from Damodar Valley Corporation
Posted on 19th July 2019
Infrastructure company Larsen & Toubro Friday said its power business has bagged “significant” orders from Damodar Valley Corporation (DVC) to set up flue gas desulphurisation (FGD) systems in three of its power plants.

DVC’s three plants where FGD systems will be set up are Durgapur Steel Thermal Power Station (2×500 MW), Mejia Thermal Power Station (2×500 MW) and Raghunathpur Thermal Power Station (2×600 MW) – in West Bengal, Larsen & Toubro (L&T) said in a regulatory filing.


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