Brief by Shorts91NewsDesk / 02:32pm on 27 Feb 2025,Thursday Business
Tata Motors' stock has dropped 44%, erasing Rs 2 lakh crore in market value, primarily due to weak demand for its Jaguar Land Rover (JLR) division in key markets like China, the UK, and the EU. The company faces challenges from increasing competition and potential U.S. import tariffs on European cars. Despite these hurdles, analysts see a potential buying opportunity, citing attractive valuations and the possibility of a JLR recovery. CLSA upgraded the stock, forecasting a 40% upside, while BNP Paribas maintains a cautious outlook, acknowledging the stock's current consolidation phase.
Brief by Shorts91NewsDesk / 12:30pm on 27 Feb 2025,Thursday Business
Celebrating its 75th anniversary, Amrut Distilleries has introduced 'Amrut Expedition,' India's oldest and rarest single malt whisky, priced at ₹10.5 lakh per bottle. This exclusive release is limited to just 75 bottles worldwide, making it a coveted collector's item. The whisky has undergone a unique 15-year maturation process, spending eight years in European Sherry casks and an additional seven years in American ex-Bourbon casks, resulting in a deep, complex flavor profile. Each bottle features a diamond-cut design with gold engravings and includes a handcrafted silver peg measure. The packaging, a blend of metal and wood, took six months and five prototypes to perfect. Amrut Expedition is available in select markets, including India, the USA, the UK, Europe, Dubai, Singapore, and Australia.
Brief by Shorts91NewsDesk / 08:21am on 26 Feb 2025,Wednesday Business
The Income Tax Department is set to initiate a nationwide crackdown on 40,000 taxpayers for failing to deposit TDS/TCS. A 16-point strategy, utilizing data analytics, will be employed to identify and investigate defaulters, focusing on recurring offenders and discrepancies between tax deductions and payments. Non-intrusive methods will be used, beginning with notifications to taxpayers who may have missed payments. The effort aims to create a fairer tax system by taking strict action against willful defaulters, while offering compliance relief for honest taxpayers. This initiative follows the simplification of TDS rates in the recent Union Budget.
Brief by Shorts91NewsDesk / 04:54am on 26 Feb 2025,Wednesday Business
BJP leader Jaiveer Shergill criticized Air India, claiming it would win an "Oscar" for "worst airlines" due to broken seats, poor staff, and terrible customer service. His X post sparked responses from other passengers, including Union Minister Shivraj Singh Chouhan, who also reported broken seats on a flight. Chouhan questioned the airline's management under Tata, while the airline apologized and promised to address concerns. Despite criticism, some defended Air India, noting its fleet and service improvements since Tata's takeover in January 2022. Congress also took a jab, pointing out issues in aviation and railway sectors. Air India has made significant investments in fleet upgrades.
Brief by Shorts91NewsDesk / 05:22am on 24 Feb 2025,Monday Business
Tata Consultancy Services (TCS) recently announced its annual salary hikes, with payments starting in April 2025. However, the company faced a significant setback as its market valuation plummeted by Rs 53,185.89 crore to Rs 13.7 lakh crore, marking a massive loss. This decline was part of a broader market dip, with the combined valuation of eight of the top-10 most valued firms dropping by Rs 1,65,784.9 crore. TCS’s stock dropped 2.82% from February 17-21, 2025, contributing to its market cap decline. Despite this, TCS remains one of the top most valued firms, following Reliance Industries.
Brief by Shorts91 Newsdesk / 03:39pm on 22 Feb 2025,Saturday Business
Tesla is set to enter India, but its cars may still be expensive. A report by CLSA says even with reduced import duty, Tesla's cheapest Model 3 could cost ₹35-40 lakh on-road. In the US, this model costs around $35,000 (₹30.4 lakh). Extra costs like road tax and insurance will push prices higher. Tesla has started hiring in India and plans to launch in Delhi and Mumbai. Experts say Tesla must set up a factory in India to lower prices. Without local production, its cars may be too costly for most Indian buyers.
Brief by Shorts91NewsDesk / 11:10am on 21 Feb 2025,Friday Business
Tesla is making a renewed effort to enter the Indian market after two previous attempts. Following CEO Elon Musk's recent meeting with Prime Minister Narendra Modi, the company plans to import vehicles produced at its Berlin plant and is exploring potential factory sites in India. This initiative aligns with India's March 2024 policy allowing electric vehicle (EV) manufacturers to import up to 40,000 fully assembled EVs over five years at a reduced customs duty of 15%, contingent upon a $500 million investment in local manufacturing. This move comes as Tesla faces significant sales declines in key markets, including a 59.5% drop in Germany and a 63.3% decrease in France in January 2025. Additionally, U.S. President Donald Trump has criticized Musk's plans to establish a factory in India, adding complexity to Tesla's international strategy.
Brief by Shorts91 Newsdesk / 04:38pm on 19 Feb 2025,Wednesday Business
Tesla is finally entering India, with its electric cars expected on roads by April. The Elon Musk-led company is also planning a manufacturing hub, investing $3-5 billion. Tesla officials will visit India soon to discuss production plans with the government. Potential locations for the factory include Maharashtra and Gujarat. Reports indicate Tesla’s cars may start at ₹21 lakh. The company will benefit from India's new EV policy, offering import duty cuts for firms investing at least $500 million. This move aligns with Prime Minister Narendra Modi’s recent talks with Musk in the US.
Brief by Shorts91 Newsdesk / 02:05pm on 18 Feb 2025,Tuesday Business
Tesla is hiring in India, a sign that the company plans to enter the market soon. CEO Elon Musk met Prime Minister Narendra Modi in the US last week. The company has listed 13 job openings, including service technicians and customer engagement roles in Mumbai and Delhi. Tesla had avoided India due to high import duties, but the government recently lowered them. India's electric car market is small but growing. Tesla’s move comes as its global EV sales slow. The company has not announced a launch date yet.
Brief by Shorts91NewsDesk / 06:45am on 18 Feb 2025,Tuesday Business
Coal India has emerged as a top pick for investors seeking high-yield stocks, offering attractive fixed dividend returns. Despite market fluctuations, the stock has maintained stability, appealing to risk-averse investors. Its robust performance and consistent payouts make it a favored choice for those looking to diversify their portfolios with a reliable stock. Additionally, its strong market position and future growth potential further enhance its appeal.