Tata Motors hits four-month high; up 17% in two days after JLR Q4 guidance
Posted on 2nd April 2019 |
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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. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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| Be the first person to write a business review for Tata Motors hits four-month high; up 17% in two days after JLR Q4 guidance |
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