Shares of Maruti Suzuki India (MSIL), India’s largest passenger vehicle maker, rallied Rs 8,319.80 in intraday trade before closing 6.33 per cent higher at Rs 8,274.6 on the BSE in the previous session. This is the highest level seen since February 28 this year. The stock has surged 25 per cent from its 52-week low of Rs 6,540 touched in March this year. Auto shares surged on Thursday as the recent decline in global commodities, including metals, prompted investors to lap up some of the battered names. The BSE Auto index jumped 4.4 per cent emerging as the top sector gainer on Thursday. MSIL’s profitability has been adversely impacted in the last three years by weak product lifecycle, unprecedented commodity cost inflation in base commodities and precious metals, and multiple headwinds to volumes, resulting in an operating deleverage. This has resulted in a sharp erosion in its gross margin (~610bp) and Ebit margin (~570bp) over FY19–FY22. However, stable commodity cost … [Read more...] about Maruti Suzuki Hits 3-Month High on Better Margin Hopes; Should you Buy, Sell or Hold?
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Protests continued in cities across the country Saturday after the Supreme Court's decision to overturn the landmark Roe v. Wade ruling that had guaranteed the right to abortion in the United States. As states began to enact abortion bans and clinics stopped offering the procedure, large crowds gathered in cities such as New York, Los Angeles and Atlanta, some jubilant, others dismayed at the decision that stripped away women’s constitutional right to abortion. Both sides predicted the fight over abortion would continue. Key highlights: President Joe Biden called it a “sad day” for the U.S. and said it would be up to voters in November to select candidates who would protect a host of rights — not just abortion but also marriage equality and the right to contraception. Centrist Sens. Joe Manchin, D-W.Va., and Susan Collins, R-Maine, suggested they were misled by Justices Brett Kavanaugh and Neil Gorsuch, two key votes in the decision to overturn Roe. SEE NEW … [Read more...] about Protests and celebrations as Supreme Court overturns Roe v. Wade: Live updates
PDP chief Mehbooba Mufti on Saturday accused the central government of “robbing” jobs, land, and minerals from the people of Jammu and Kashmir. The former J&K chief minister asked people to not feel helpless and to muster the courage to raise their voices for their rights. “They (those at the helm) might try to push you to a point of hopelessness and instill a defeatist attitude in you but you should not lose hope and be more determined to fight,” she said, adding that their situation might get worse than the situation in Gaza if one does not resent. Mehbooba urged the youth to shun militancy and save their lives, claiming that the security forces personnel won’t spare even a new recruit for a few days. “The security is getting incentives for killing militants. I would urge parents to save their kids,” she said, adding, “I hear every day three or four youths have been killed, which means the local recruitment here has increased.” The PDP chief also accused the Jammu and … [Read more...] about PDP Chief Mehbooba Urges Youth to Shun Militancy, Accuses J&K Administration of Corruption