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Tata Motors hits four-month high; up 17% in two days after JLR Q4 guidance
Posted on 2nd April 2019
Shares of Tata Motors moved higher by 8 per cent to Rs 203 on Tuesday, gaining 17 per cent in the past two trading days on the BSE, after the company’s wholly-owned subsidiary Jaguar Land Rover (JLR) said it expects improved financial results for the quarter ended March 2019 (Q4FY19).

The stock of Tata group Company was quoting at its highest level since October 9, 2018. The trading volumes on the counter jumped an over four-fold today. A combined 88.75 million shares representing 3.5 per cent of total equity of Tata Motors changed hands on NSE and BSE till 03:00 pm.

“The Company reaffirms that it expects improved financial results in the fourth quarter period to March 31, 2019, compared to the first nine months of the financial year, with significant positive cash flow in the fourth quarter,” JLR said on Friday, March 29, 2019, after market hours in a regulatory filing.

The company continues to execute its product plans and Project Charge turnaround strategy to deliver 2.5 billion pounds of cash flow improvements by March 2020, it added.

Meanwhile, Tata Motors on Monday, after market hours, said that commercial and passenger vehicles business sales in the domestic market declined by 1 per cent to 68,709 units due to low market sentiments.

In March 2019, the SCV Cargo and Pickup segment recorded a growth of 11 per cent at 21,621 units as compared to 19,464 units sold Last year. The evolving hub-spoke model, demand for the last mile connectivity across the rural and urban markets, and Swachch Bharat initiatives have led to increase in demand in this segment, Tata Motors said in press release.

The commercial passenger carrier segment recorded sales of 7,239 units, up 2 per cent over last year, due to increased demand for school buses, in addition to the growth in Winger sales for ambulances and school requirement. The new product introduction of 15-seater Winger has received good traction and the deliveries of electric buses to various STUs have also contributed to this growth, it added.
Related Companies: Tata Motors   National Stock Exchange of India Ltd (NSE)    Bombay Stock Exchange - BSE   

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Bitcoin tops $12,000 for the first time January 2018
Posted on 26th June 2019
NEW DELHI: Bitcoin prices surpassed $12,000 on Wednesday for the first time since January 2018. The interest in the cryptocurrency rose after Facebook unveiled its own digital unit Libra.

On a year-to-date basis, bitcoin has risen 216 per cent to $12,155 on June 26 against $3843.52 on January 1. The currency is still way below its record level of $20,000 witnessed at the end of 2017.


Sensex rises over 150 points; Nifty above 11,800
Posted on 26th June 2019
Mumbai: Domestic equity benchmark BSE Sensex rose over 150 points in early trade on Wednesday tracking gains in index heavyweights ICICI Bank, L&T and RIL, amid heavy foreign fund inflow.

After swinging over 200 points within the first 15 minutes of trade, the 30-share index pared opening losses to trade 111.08 points, or 0.28 per cent, higher at 39,546.02 at 0930 hours. Similarly, the broader NSE Nifty was quoting 32.60 points, or 0.28 per cent, up at 11,829.05.


BSNL, MTNL may get revival package as govt steps in to ease cash crunch
Posted on 26th June 2019
The government is likely to announce a revival package for state-run telecom firms BSNLand MTNL in the next few days as a severe cash crunch has again jeopardised timely payment of salaries for June.

According to sources, cabinet secretary PK Sinha on Tuesday held a more than an hour-long meeting with department of telecommunications (DoT) officials, including secretary Aruna Sundararajan, to chart out a revival plan.


L&T acquires controlling stake in Mindtree, reveals report
Posted on 26th June 2019
Indian conglomerate Larsen and Toubro (L&T) has acquired a controlling stake in IT services company Mindtree, CNBC TV18 channel reported, citing sources. The report comes within months of Mindtree rejecting a hostile takeover bid from L&T, saying the plan was of no value for the firm or its shareholders.

L&T’s hostile bid to acquire a controlling stake in Mindtree is the first in India’s software services industry and is rare in India’s corporate sector, where unsolicited suitors are usually deterred by founders with large shareholding.


Honda says adoption of electric vehicles a big challenge in India, industry needs time
Posted on 26th June 2019
A day after Bajaj Auto and TVS Motor criticised government think tank Niti Aayog’s proposal to ban non-electric two- and three-wheelers, Honda Motorcycle & Scooter India said adoption of electric vehicles was still a major challenge in India and the industry needs more time to stabilise after the switchover to BS-VI norms.

In a statement, the company said the government needs to look at the impact on employment, cost of technology and availability of raw materials, among others.


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