Mahindra & Mahindra and Skoda Auto Volkswagen India are finalizing a 50:50 joint venture to share costs, technology, and vehicle platforms, focusing on electric SUVs for both Indian and international markets. The partnership will use facilities in Chakan, Pune, for production. An announcement is expected by year-end. The JV is a significant step for both companies amidst increasing government push for electric vehicles and stricter carbon emission regulations.
Leading economist Arvind Panagariya advocates allowing Chinese investments in India, barring security risks. He highlights the potential leverage gained against China and argues that FTAs with large markets could boost foreign investments. His book criticizes import substitution, urging reforms and citing India's telecom success as an exception.
"MSCI's August 2024 review changes for its standard and small-cap indices will be implemented on Friday, likely leading to $5.5 billion in net inflows," said Sriram Velayudhan, head of alternative research at IIFL. "This includes adjustments to country weightings, with India expected to gain substantially post-rebalancing."
Trent Ltd, a specialty retail company under Tata Group, surged over 200% in the past year. Experts suggest the stock is poised for further gains, potentially reaching Rs 7,500 in the next 2-3 weeks. Both weekly and daily charts show bullish trends, with FIIs increasing their stake in the stock.
US stock market indexes -- S&P 500 and Nasdaq -- had a tepid day of trading even though Dow Jones scaled new heights.
The MoU is to be signed in San Francisco in the presence of the Tamil Nadu Chief Minister, MK Stalin and President of the Semiconductor Products Group at Applied Materials, Dr. Prabu Raja.
