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Tata Motors skids on lockdown effect

Good morning, people!

No prizes for guessing the colour of the markets on Thursday. After the Fed hike announcement on Wednesday, markets took a U-turn and closed in the bear territory. On the bright side, the weekend is not far away. Keeping a positive attitude, here are the top stories to start your day.


For more updates on F&O, click here.


⭐ Tata Motors slips on China lockdown impact 😷

Shares of Tata Motors skid 5% on Thursday. This was after its warning that production may be halted in some or all its plants if it doesn't receive critical parts from China. It further said that some Jaguar Land Rover dealerships in China have been temporarily shut owing to Covid lockdowns. This, it said, could adversely impact sales in FY23.

⭐ Adani’s borrowings continue to rise 😶

Adani Group has not only been on a spending spree, but also a borrowing spree. The conglomerate's combined borrowings jumped 40% to about ₹2.21 lakh crore in FY22. Adani Enterprises' debt rose the most in the period. It surged 155% to ₹41,024 crore in the same period. Furthermore, the Group is looking to raise $4.5 billion (₹35,114 crore) worth offshore loans to fund the acquisition of Ambuja Cement and ACC.

⭐ Gujarat at top of the tree 😎

As per government data, Gujarat accounted for nearly 30% of India’s exports in FY22, as compared to 21% in FY21. This was mainly due to an increase in the value of petroleum products and diamonds. Moreover, the value of exports nearly doubled in FY22 from the year ago.


Global markets (at 7:30 AM today)

Indices Today's movement
SGX Nifty 0.4%
Nikkei 225 (Japan) 2.2%
Hang Seng (Hong Kong) 0.6%
SSE Composite (China) 0.1%
Dow Jones (US) (June 16) 2.4%
NYSE (US) (June 16) 2.4%
Nasdaq (US) (June 16) 4.0%
S&P 500 (US) (June 16) 3.2%

Fact of the day

Microsoft is planning to make working more fun by adding popular games like Solitaire and Connect 4 on its Teams platform.

Source: Times of India


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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.

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