NEWS

Posted On:
13-04-2024

Tata Motors: Positives fully priced in, analysts still upgrading the stock

There is no impediment to normal operations as Tata Motors puts in place the demerger process of its commercial and passenger vehicles businesses. Instead, the demerger would provide greater manoeuvrability for both new entities to operate independently, according to Tata Motors management. While there may not be immediate value unlocking, it will give investors clarity about future growth and the financials across different segments. Globally, volume recovery in Jaguar Land Rover (JLR) suggests there is likely to be strong growth in revenue, profitability, and free cash flow (FCF). There is also a focus on grabbing market share in the domestic

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Posted On:
13-04-2024

HMPL board approves Rs 486 cr fundraising plan through issuance of warrants

Infrastructure company Hazoor Multi Projects Ltd (HMPL) on Saturday said its board has approved a proposal to raise Rs 486 crore through the issuance of warrants. The plan was approved by the board of the company at a meeting on Friday, HMPL said in a regulatory filing. The board has approved fundraising of Rs 4,860 million through issuing and allotting up to 1.62 crore fully convertible warrants to the persons belonging to the 'non-promoter' and 'public' category on a preferential basis at an issue price of Rs 300 per warrant, the company said.The proposal is subject to the approval of shareholders and other regulatory authorities, HMPL added. "Upon issue of Warrants in accordance herewith, an amount equivalent to 25 per cent of the total issue size shall be called upfront from the proposed allottees," it noted. The company said it looks to utilise the proceeds to enhance financial resources to fund its growth.

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Posted On:
15-04-2024

Vi expects 5G rollout in 6-9 months after FPO worth Rs 18,000 crore

Ahead of its Rs 18,000 crore further public offer (FPO), Vodafone Idea on Monday said it expects to roll out 5G services in select pockets in 6-9 months of the issue. Its Chief Executive Akshaya Moondra said rollout of the 5G services is one of the objectives of raising the capital from the public and once the funding comes, it will start work on the rollout. The 5G rollout will cover 40 per cent of the company's overall revenue base in the next 24-30 months, Moondra said, without sharing a specific target on when the rollout will happen. A sum of Rs 5,720 crore has been allocated for the rollout, he said, adding that testing and vendor conversations have already begun. However, he did not specify the locations where the rollout will happen. It can be noted that both its rivals Bharti Airtel and Reliance Jio -- to whom it has ceded market share -- have been active on 5G for some months now. Moondra said the company has not been able to roll out 5G services because of lack of funds. The company has set a price band of Rs 10-11 per equity share for the issue that opens on Thursday.

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Posted On:
15-04-2024

Tesla scouts for 1st India showroom locations; plans to begin sales in 2024

US electric carmaker Tesla is looking at potential showroom locations in New Delhi and Mumbai ahead of plans to begin sales in India later this year, two people familiar with the discussions said. Tesla, which saw its global vehicle deliveries decline in the first quarter for the first time in nearly four years, is stepping up efforts to expand into new markets. It wants to begin with a showroom of 3,000 to 5,000 square feet (280-465 square metres) as well as a service hub in each city, said one of the people familiar with the plans. The automaker has begun production of right-hand drive cars at its plant in Germany for export to India, separate sources have said. India last month cut electric vehicle import taxes to 15% from as much as 100% for automakers that invest at least $500 million and set up a factory. Tesla Chief Executive Elon Musk is expected to make an investment announcement and meet Prime Minister Narendra Modi during a two-day visit to India from Sunday. Musk and Modi last met in New York in June.

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Posted On:
16-04-2024

Fraud by candidates, rejection top worries of recruitment firms: Report

Job candidates committing “fraudulent practices” in online assessments is the major worry of recruiters and talent acquisition (TA) specialists, says a report by HirePro, a recruitment firm that uses artificial intelligence (AI). The second concern is anxiety over finding the right candidate for roles, news agency PTI reported. HirePro’s report is based on a survey conducted among 837 industry professionals from October 2023 to March 2024. It highlights key apprehensions and challenges faced throughout the recruitment process. During recruitment planning, finding the right candidate for a role tops the list of concerns (37 per cent), followed closely by uncertainties regarding meeting hiring targets (32 per cent), especially in cases of high-volume hiring and specific skill set requirements. As many as 29 per cent of recruiters expressed worries about candidates exploring multiple job offers and the potential for offer rejections or candidate no-shows (28 per cent). Budget constraints leading to the loss of potential candidates also weigh heavily on recruiters' minds during this phase ( 25 per cent).

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