Good morning!
Here are the top stories to start your day.
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⭐ JLR sales slump in Q1 🚙
Tata Motors-owned Jaguar Land Rover reported a 37% year-on-year drop in Q1 sales to 78,825 units. Despite a solid order book, the company said its sales failed to pick up due to the impact of Covid lockdowns in China and the global semiconductor shortage. However, it said global demand continues to remain strong. Its order book as of 30 June was almost 2 lakh units, up by around 32,000 orders from 31 March.
⭐ Vedanta acquires power company ⚡
Vedanta has acquired debt-ridden Athena Chhattisgarh Power for ₹564 crore. The acquisition is expected to be completed in the current financial year. The acquisition will fulfil the power requirements of Vedanta's aluminium business and provide a cost advantage in terms of power consumption.
⭐ Akasa Air may take to skies soon ✈
The latest entrant into the civil aviation space, Akasa Air, has received the Air Operator Certificate (AOC) from the DGCA. The company will start its commercial operations by the end of July with two aircraft. It had taken delivery of its first Boeing 737 Max aircraft in India on 21 June. The company said by the end of the current fiscal year, Akasa Air will have 18 aircraft and will further add 12-14 aircraft every year
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.82% |
| Nikkei 225 (Japan) | ▲ 1.43% |
| Hang Seng (Hong Kong) | ▲ 0.79% |
| SSE Composite (China) | ▲ 0.31% |
| Dow Jones (US) (July 07) | ▲ 1.12% |
| NYSE (US) (July 07) | ▲ 2.28% |
| Nasdaq (US) (July 07) | ▲ 0.97% |
| S&P 500 (US) (July 07) | ▲ 1.5% |
Fact of the day
Sales of residential properties in India during the first half of 2022 hit a nine-year high of 1.58 lakh units in the top 8 cities.
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.