![]() , 02:12:41 PM IST Covid Outbreak at China IPhone Plant Pushes Workers to the Edgeĭiscontent rippled through Apple Inc.’s biggest iPhone plant in China this week, after hastily enacted measures aimed at quelling a Covid outbreak plunged many of its 200,000 workers into isolation - some without proper meals. ![]() Maruti has lost significant market share over the last few years (41% in Sep-22YTD vs 51% in FY19)." ![]() However, market share gains remain key for Maruti, due to the competitive intensity in the UV space. Production levels for the company are almost back to normal levels as the chip issue is largely addressed. However, higher competition in the SUV space and slow revival in the entry segment still remains a concern. The company has addressed white spaces in its portfolio through the launch of Brezza and Grand Vitara. Pending customer orders stood at about 412k vehicles at the end of the quarter, of which 130k units for the newly launched models. Its new models – New Brezza, New Baleno, and Vitara have been gaining good traction. “Maruti Suzuki 2Q performance was better-than-street estimates. Maruti Suzuki 2QFY23: Beats street estimates supported by better-than-expected GM, higher other income, lower tax rate Maruti Suzuki 2QFY23 – Mansi Lall – Research Associate, Prabhudas Lilladher Pvt Ltd ![]() Q2FY23 Result Update - Receivables Growth Strong, Revolver Mix Falling again a Dampener Rating: ACCUMULATE | CMP: Rs858 | TP: Rs1,013 SBI Cards and Payment Services (SBICARD IN) – Akshay Ashok – Research Analyst, Prabhudas Lilladher Pvt Ltd , 03:03:17 PM IST Prabhudas Lilladher stock report on SBI Cards and Payment and Maruti Suzuki The pan-European STOXX 600 index fell in the morning trade. The Hang Seng China Enterprises Index slumped 4.1% in Hong Kong on Friday.Įuropean shares also dragged lower by weaker commodity prices and mixed earnings reports, as investors assessed the path for monetary policy tightening amid slowing economic growth. Shanghai Composite Index dropped 2.2%, while the Hang Seng Index shed 3.6%. The Bank of Japan's decision earlier in the day to keep stimulus settings unchanged, as was expected, had a limited effect on the market and the Tokyo Nikkei lost 0.88%.Ĭhinese stocks had their worst showing ever following a Communist Party Congress after this year’s leadership gathering dashed hopes for more market-friendly policies. Japan's Nikkei share average fell on Friday as weakness on Wall Street and some poor domestic earnings results took a toll on sentiment. Metal, Pharma and IT were among the worst performers on Friday.Īsian markets otherwise had a lacklustre day with most indices ending in the red. Tata Steel, Tech Mahindra, Sun Pharma and Grasim were on the losing side today.Īs already mentioned, Auto and Oil & Gas saved the day, whereas all the other sectoral indices ended up shedding in today's session. Reliance Industries and Apollo Hospitals also topped the stocks chart in today's session and gained more than 2%. Maruti Suzuki zoomed 5% following a 4-fold jump in its quarterly profit. Meanwhile, Nifty jumped 50 points to end the week at 17,786. Sensex touched 60,000 intraday trading but settled at 59,959, a gain of 203 points. Indian indices remained somewhat immune to negative global cues on Friday and ended the day in green, thanks to a good showing by Auto and Oil & Gas indices. Sensex closed just below 60,000 and Nifty below 17,800 , 03:41:50 PM IST Indices ends in red after remaining flat for most of the day.
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