ITC's on a roll

Good morning!

Here are the top stories to start your day.

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⭐ ITC turns heads! 😏

FMCG major ITC is usually the butt of all stock-market memes on Twitter, about how it never goes up. But in a sort of role reversal, ITC has touched its highest level since May 2019 and has become the best-performer among the Sensex and Nifty50 stocks in the last six months. ITC is rising on the back of a stable tax environment for cigarettes and expectations of a strong earnings growth. 

⭐ Tata Motors is bullish on growth  🚘

Tata Motors chairman N Chandrasekaran said the company plans to sell half a million cars in FY23. He added that the company's annual electric vehicle sales will cross one lakh units in FY24. The company is aiming to sell 50,000 EVs in the current year. It aims to have a product portfolio of 10 EVs by FY25 and expects the share of EVs to rise to 25% of total sales in the next five years.

⭐ Trade deficit rises 😑

India's merchandise trade deficit surged to $25.6 billion in June 2022, a jump of 62% year-on-year. This is due to increasing prices of energy and metal imports. While exports in June rose by 16.8% to $37.9 billion, imports saw a jump of 51% to $63.5 billion.

Global markets (at 7:30 AM today)

Fact of the day

WhatsApp is reportedly working on adding a feature that will allow users to hide their online status from specific users.

Source: Financial Express

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