13.18 +0.64 (5.10%)
Pre-market: 7:39AM EST
|Bid||13.03 x 3200|
|Ask||13.15 x 1400|
|Day's range||12.38 - 12.59|
|52-week range||7.38 - 17.14|
|Beta (5Y monthly)||1.56|
|PE ratio (TTM)||6.48|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||13 Jul 2016|
|1y target est||13.50|
Indian stock indexes closed higher on Wednesday following a sharp selloff this week, as investors snapped up beaten down metals stocks and took heart from strong corporate earnings reports. The Nifty ended 0.61% higher at 12,129.50, while the Sensex closed up 0.57% at 41,198.66. The Nifty had fallen some 1.8% over the past two sessions as investors fretted about the economic impact from a virus outbreak in China.
India's Tata Group is making its biggest push yet towards clean vehicles with plans to make electric cars and batteries, set up charging stations and build a battery recycling plant, senior executives said on Tuesday. To try to curb pollution and reduce its fuel import bill, India is pushing automakers to produce electric vehicles, but has faced resistance from some that say the charging infrastructure needs to be set up first and battery costs are too high to allow the manufacture of affordable EVs. Tata Motors , Tata Chemicals , Tata Power and Tata Croma, a chain of stores selling consumer electronics, are pooling resources and expertise to build an electric vehicle ecosystem, the executives told reporters in Mumbai.
Britain is the United States' closest ally but their long friendship may be sorely tested as the two countries try to forge a new trade agreement after Britain's exit from the European Union. U.S. Treasury Secretary Steven Mnuchin said on Saturday in London that he was optimistic that a bilateral deal with Britain could be reached as soon as this year. Javid has insisted that Britain will proceed with a unilateral digital services tax, despite a U.S. threat to levy retaliatory tariffs on British-made autos.
Years into a bond market bull-run, investors are banking on a brighter future for funds that buy the debt of financially troubled European companies whose bonds are offering meatier returns because they are more risky. With European economic growth expected to be subdued in 2020, and default rates tipped to rise, investors expect an increase in the number of companies that will struggle to service their debt. Private equity groups and asset managers are creating so-called special situation funds to identify suitable targets for these high-risk - and potentially high-reward - bets.
Hundreds of workers face redundancy at a factory making the Evoque and Discovery Sport models in Halewood, just outside Liverpool.
British carmaker Jaguar Land Rover (JLR) said on Wednesday it will cut around 10% of the workforce at its northern English Halewood factory as it changes shift patterns to boost efficiency at the site. The plant produces the Range Rover Evoque and Land Rover Discovery Sport vehicles but the Unite Union warned that the challenges facing the company are also being experienced at other British car factories. JLR posted a 6% decline in 2019 sales, hit by the weakening Chinese auto market and falling demand for diesel vehicles in Europe.
Carmaker Jaguar Land Rover (JLR) posted a 6% fall in full-year sales on Friday after a challenging year in which its performance was hit by the weakening Chinese autos market and falling demand for diesel vehicles in Europe. Retail sales stood at 557,706 vehicles in 2019, hit by a 13.5% slump in China, but in the last six months the firm reported double-digit growth in the country, with overall company sales up 1.3% in December. At the start of 2019, JLR announced plans to cut around 10% of its workforce and it has been pursuing measures to reduce costs and improve cash flows by 2.5 billion pounds.
Luxury automaker Jaguar Land Rover's chief executive told Reuters he is open to more alliances to lower the costs of developing technology, but is not looking for a full-blown corporate merger. "We feel the pressure" from demands to slash carbon emissions and develop electric vehicles, Jaguar Land Rover chief Ralf Speth said in an interview on the sidelines of the Los Angeles auto show.
The London Metal Exchange is planning to create a committee to represent the interests of producers and users of lithium, a key component in electric car batteries, it said on Tuesday. Announcing the committee during LME Week, an annual gathering in London of metals consumers, producers, traders and brokers from around the world, the LME said it was likely to include representatives of nine companies. The LME is planning a lithium contract, and in June selected Fastmarkets to provide a reference price, but has given no timeline for an official launch.
The London Metal Exchange (LME) said on Tuesday it would create a committee to represent the interests and views of producers and users of lithium, a key ingredient in batteries. The LME said the committee was likely to include representatives of nine companies including vehicle makers Tesla and Jaguar Land Rover and lithium producers and processors Tianqi Lithium Australia, BASF and Albemarle. The LME plans a lithium contract, but has given no timeline for an official launch.