Top Stories | Jaguar Land Rover comes to Indian shores, Brookfield gears for Leela Hotels IPO, Lok Sabha's penultimate phase tomorrow, and more
Top 10@10 — CNBC-TV18’s daily newsletter featuring the top 10 stories on markets, corporate updates, economic insights, and financial highlights — delivered at 10 PM.
In Friday's edition, we traverse through Tata's ambitious move of bringing JLR production to Indian shores, Indian markets surging ahead of Lok Sabha results, , Brookfield gearing up for Leela Hotels IPO, Hindalco's impressive profit surge, and Google's strategic investment in Flipkart, delving into the realms of innovation and commerce.
Tata's JLR brings Range Rover production to Indian shores
Tata Motors' UK-based subsidiary Jaguar Land Rover (JLR) will begin manufacturing its Range Rover and Range Rover Sport in India. This is a first in the 54-year history of these models. Until now, they were only produced at JLR’s Solihull plant in the UK and exported to 121 global markets, including India.
But wait, there's more! Tata's subsidiary has its sights set on an ambitious goal—doubling its business within a mere three years!?
As if that weren't enough, JLR is all charged up to introduce six new battery electric vehicles in India over the next four years, aligning with the industry's shift towards sustainability.
Exciting developments lie ahead for Tata's JLR. Read more ?
##Friday earnings and the week ahead for markets
With only six sessions remaining before the Lok Sabha election results, the benchmark equity indices, Sensex and Nifty, soared to new record highs in Friday's trading session. The 30-share BSE Sensex surged 164.24 points, reaching an unprecedented peak of 75,582.28 during early trade.?
Meanwhile, the NSE Nifty rose by 36.4 points, surpassing the 23,000 milestone for the first time, achieving a historic high of 23,004.05.
Hindalco Q4 profit soars, Bosch declares lowest dividend in two years
Aluminium and copper manufacturer Hindalco reported a significant surge in its net profit, reaching ?8,174 crore for the January to March 2024 quarter, a substantial increase from ?2,411 crore in the same period last year.
Concurrently, Bosch announced a dividend of ?170 per share, the lowest in the past two years, contrasting with its earlier payout of ?205 per share. Read more?
And here’s the CNBC-TV18 Editor's Roundtable. Watch our experts discuss the week gone by and preview the week ahead for markets ??
Are IIT placements a sure bet??
Not for these 8,000 IITians struggling in the 2024 campus drive…
Joining the elite ranks of the seven in 10,000 who snag a spot at an Indian Institute of Technology, or IIT, used to feel like punching a golden ticket to corporate success. But hey, welcome to reality—where simply walking through those prestigious doors doesn't guarantee a plush job and fat paycheck anymore!
Nearly 8,000 IITians from the 2023-24 placement drive are still playing the waiting game, making up a whopping 38% of the hopefuls who signed up for the campus hustle. Read more
EXCLUSIVE | Brookfield to launch Leela Hotels IPO soon
And guess what? Brookfield Asset Management is gearing up to bring its fancy hotel chain, The Leela Palaces, Hotels & Resorts, to the IPO market in 2024 .
Ankur Gupta, the in charge of Real Estate at the firm, dropped some hints, saying they're seeing some serious growth and hinting that IPO action might be just around the corner.
When asked about when exactly we can expect this, Gupta basically said, "It's better to do things today than to wait for tomorrow."
Further, in the exclusive interview with CNBC-TV18 , Gupta revealed that over the last half-decade, their belief in growth has morphed into tangible expansion—from eight to fifteen properties, with the prospect of nearly twenty Leela hotspots across India very soon.
Google reportedly throws $350 million into Flipkart's cart
After chipping in with $600 million in December 2023, Google's ready to pump some more cash into Flipkart's latest funding round that aims to raise $1 billion.
While Google hasn't spilled the beans on the exact amount they're throwing in, word on the street is it's a hefty sum—around $350 million!
领英推荐
China intensifies military drills around Taiwan for second day
China kicks off round two of its 'War Games' saga around Taiwan. They're not just playing for fun; they're on a mission to show off their power-grabbing skills and secure some major control points.?
These exercises are reportedly a response launched to punish Taiwan's President Lai Ching-te.
Shakeup in Sensex—Wipro out, Adani Ports anchors in
Starting June 24, Adani Ports will join the BSE Sensex following the stock exchange's semi-annual update announced on Friday, May 24.
IT giant Wipro will be removed from the benchmark 30-stocks index, which features the country's most actively traded and largest stocks.
This marks the first time an Adani Group company will be included in the benchmark Sensex.
Tesla CEO Elon Musk opposes US tariffs on Chinese electric cars
Elon Musk, the brains behind Tesla, isn't exactly charged up about the recent U.S. tariffs on Chinese electric cars.?
Musk has voiced his opposition to the tariffs spanning various strategic sectors, including steel, aluminum, semiconductors, electric vehicles, batteries, critical minerals, solar cells, ship-to-shore cranes, and medical products from China, as announced by President Biden.
This unexpected stance from Musk has thrown a bit of a curveball into the ongoing trade discussions.
What did he exactly say? Read here
##Lok Sabha Elections Phase 6?
Voting for the sixth phase of the 2024 general elections kicks off on Saturday, May 25, from 7 AM to 6 PM. This crucial phase sees 889 candidates vying for 58 parliamentary constituencies across eight states and Union Territories. Notably, this includes 20 candidates from the rescheduled poll in Jammu and Kashmir's Anantnag-Rajouri seat. With campaigning for this phase wrapping up today, the stage is set for another significant day in India's democratic process. ?Here's a closer look at what to expect. Read here
BJP and I.N.D.I.A Bloc engage in high-stakes delhi showdown ??
Meanwhile, BJP has moved to Supreme Court against Calcutta High Court order staying ads violating Code of Conduct
The High Court had barred the BJP from releasing derogatory advertisements about the Trinamool Congress and criticised the Election Commission of India for not addressing AITC’s complaints about the allegedly slanderous ads.
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O afacere 100% corect? (The fact is that there are no coincidences from birth to justice and higher, we do what we do because we say what we say and sometimes the only argument against is ‘beyond control’)
3 个月The fact is both Dacia and Jaguar’s people are very intelligent and very educated if the firsts were a bunch of smelly peasants the other day very unfriendly, most living fraudulent considering the laws of the time, some convicted, some grown in military campuses, the second ones expands all over with the animal organizations and animals’ motion sensors, not that would have ever made a difference…since Old McDonald had a farm…London bridge…will always be safe, has got quite few samples to trade all over as examples in society accompanied or not by animals, only, miraculously the sales changed since 2004 and the balance with those that interacted with before 2004 since the stronger fragrances owners or the masters of…took over! Overall succeeded with a kickstart in Ireland 2001 to form the new ruling society a small community alike Dacia at its time thousands of years ago accompanied or not by animals…transiting to vegan and vegetarian since the animals are important for sensors and ‘on sale’
Especialista em Gest?o de Mídias LinkedIn Arquivista/ Consultor de projetos junto ao Ministério do Planejamento e Or?amento
3 个月Agradecimento por compartilhar
Truth of Character is expressed by choice of Actions
5 个月34th day : My advice to the customers: Think twice before buying any VOLTAS product. Voltas customer care is sub-standard. I am having a horrid time with Voltas, wherein the technician provided a wrong solution, swindled money and Voltas is yet to send me the bill/receipt even after more than 34 days. Customer care keeps giving me false hopes of resolution. On 21 May, I received an sms from Voltas stating that they have cancelled the Request No unilaterally. After my relentless efforts of posting the issue on this media Voltas initiated a fresh Request number 24052144051. A new set of technicians started calling me and I was asked to again pay for the solution stating that the previous solution was provided by their third party agency and that the solution was wrong!!! I refused to pay and decided to continue with this awareness campaign. Voltas seems to be having an issue with coordinating internally amongst its departments and agencies. There many such unresolved grievances posted by aggrieved customers on VOLTAS pages and on other pages. Overall a very poor service from Voltas. Voltas is unreliable. #Voltas A TATA Enterprise
Truth of Character is expressed by choice of Actions
6 个月33rd day : My advice to the customers: Think twice before buying any VOLTAS product. Voltas customer care is sub-standard. I am having a horrid time with Voltas, wherein the technician provided a wrong solution, swindled money and Voltas is yet to send me the bill/receipt even after more than 33 days. Customer care keeps giving me false hopes of resolution on Request No 24042907418. Only lip service, without resolution. On 21 May I received an sms from Voltas stating that they have cancelled the Request No unilaterally. Overall a very poor service from Voltas. #Voltas A TATA Enterprise
Truth of Character is expressed by choice of Actions
6 个月31st day : My advice to the customers: Think twice before buying any VOLTAS product. Voltas customer care is sub-standard. I am having a horrid time with Voltas, wherein the technician provided a wrong solution, swindled money and Voltas is yet to send me the bill/receipt even after more than 31 days. Customer care keeps giving me false hopes of resolution on Request No 24042907418. Only lip service, without resolution. On 21 May I received an sms from Voltas stating that they have cancelled the Request No unilaterally. Overall a very poor service from Voltas. #Voltas A TATA Enterprise