Nissan (OTC:NSANY) Motor Co and Renault SA (OTC:RNLSY) said on Monday they would invest $600 million to make six new models in India. The Japanese and French automakers will work on the projects from their base in Chennai, turning it into an export hub, they said in a statement. The six models, with each automaker making three, will be built on joint platforms and will also be exported, they said. The new models will consist of two electric vehicles, the first EVs to be rolled out by the automakers in India, and four sports utility vehicles (SUVs). The automakers last week unveiled details of their redesigned alliance and gave details of new joint projects in Latin America, India and Europe.
Oil Prices Rise On Weak Dollar As Markets Price in Less Hawkish Fed
Oil prices rose slightly on Monday as a brewing banking crisis in the U.S. spurred expectations that the Federal Reserve will soften its hawkish rhetoric in the coming months, although caution still persisted over a potential economic fallout. Oil markets benefited from weakness in the dollar, after the Fed and other U.S. regulators intervened over […]
Lock-in Ends But Nykaa Sees no Selling Pressure, Thanks to Bonus Issue Masterstroke By Falguni Nayar
Despite pre-IPO shareholders’ lock-in period coming to an end, Nykaa is seeing no selling pressure in trade today (November 10), on account of the bonus issue announced by the cosmetics-to-fashion retailer. This is a masterstroke by investment banker-turned-entrepreneur Falguni Nayar to stem a potential fire sale as the lock-in shares get released into the market […]
Zara Owner Inditex Reports Surge in Annual Profit As Sales Hit Record High
Zara-owner Inditex (BME:ITX) posted a 29% jump in annual profit despite a slowdown in top-line returns in the final quarter, thanks to “historic” growth in sales both in its physical stores and online. The Spanish fast fashion retailer, now helmed by chair Marta Ortega, daughter of business magnate Amancio Ortega, said its collections throughout the […]