Top 5 Stock To Watch out And Trade Today – March 15, 2022

Top 5 Stock To Watch out And Trade Today – March 15, 2022

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1.LLOYD:- Russia and Belarus represent less than 1% of business transacted by Lloyd’s of London, the commercial insurance market said on Tuesday.

“We’ll keep deploying our expertise, resources and networks – covering crucial areas like cyber, space and political risk – to help deliver an effective sanctions regime against Russian assets,” Lloyd’s said on its website.

2.TESLA: Tesla Inc raised its prices in China and the United States for the second time in less than a week, after CEO Elon Musk said the U.S. electric carmaker was facing significant inflationary pressure in raw materials and logistics.

The increases come as costs of raw materials are surging, exacerbated by supply chain disruptions following Russia’s invasion of Ukraine.

Prices of metals used in cars have soared, including aluminum that is used in the bodywork, palladium used in catalytic converters, and nickel and lithium that power electric vehicle (EV) batteries.

The costs have raised concerns about EV economics, as legacy automakers and startups prepare to launch new cars on the back of a long semiconductor supply crunch that is still knocking production at companies including Toyota and Volkswagen .

 3.VOLKSWAGEN:-.World No. 2 carmaker Volkswagen warned on Tuesday that semiconductor shortages, supply bottlenecks, high commodity prices and the Russia-Ukraine conflict could hit growth in 2022, as the challenges facing the auto industry mount.

“The war in the Ukraine has put our existing outlook into question,” CEO Herbert Diess said at the German group’s annual press conference following Friday’s 2021 results, warning commodity markets are likely to remain volatile until 2026.

Diess said Volkswagen had become more resilient through the coronavirus pandemic and under normal circumstances would have reason for optimism for 2022.

The group cut overhead costs ahead of schedule last year, leading to 4 billion euros ($4.4 billion) of benefits compared with 2019, said finance chief Arno Antlitz, and sports car brand Porsche’s potential initial public offering (IPO) will provide additional flexibility and value.

4.H&M:--H&M reported a 23% rise in first quarter sales on Tuesday, which was in line with market expectations, as the world’s second-biggest fashion retailer attempts to build on its recovery from the COVID-19 pandemic.

Shares in Sweden’s H&M, which did not give any comment in its statement, were down 3% in early trade as analysts focused on the potential impact of the Ukraine crisis on its business in Central and Eastern Europe and wider global repurcussions.

Net sales in H&M’s fiscal first quarter from December through February, its seasonally slowest, were up by 18% in local currency terms, at 49.2 billion crowns ($5.13 billion), compared to an average forecast from analysts polled by Refinitiv of 49.1 billion crowns.

H&M earlier this month temporarily closed its stores in Russia, which last quarter accounted for 4% of group sales, joining a growing list of international companies shunning the country over its invasion of Ukraine. Inc  said talks have failed to resolve a bitter dispute over Future Retail stores and accused both it and Reliance Industries of fraud in Indian newspaper ads on Tuesday.

The U.S. e-commerce giant has been contesting a $3.4 billion sale of Future Group’s retail assets to the Reliance conglomerate that was announced in 2020, and the case is currently before the Indian Supreme Court.

“I regret to say that we made efforts but I think nothing is possible by way of resolution,” Amazon’s lawyer Gopal Subramanium told the court. “The conversation is over.”

Reliance, also India’s biggest retailer, stunned Amazon when it began taking over prized real estate on Feb.25 with its staff suddenly showing up at many of Future’s biggest stores to assume control, sources have told Reuters.

In earlier legal wrangling, Amazon had managed to block the sale of the retail assets.

But Reliance’s sudden possession of more than 900 Future stores have landed what some analysts are calling a coup de grace that spoils Amazon’s chances of untangling the transfer of Future’s assets.

After the first seizures of stores, Amazon proposed talks separate from the Supreme Court hearing to resolve the issue but on Tuesday, lawyers for both Amazon and Future agreed those negotiations had collapsed.

Amazon had at the Supreme Court been seeking to return the legal dispute to arbitration in Singapore after Future had successfully obtained an Indian court order to stay those proceedings. On Tuesday, Future said it was not opposed to arbitration in Singapore.

Earlier in the day, Amazon had run large ads in leading Indian newspapers headlined “PUBLIC NOTICE” and saying that actions taken by Reliance and Future “have been done in a clandestine manner by playing a fraud on the constitutional courts in India.”

Future lawyer Harish Salve told the Supreme Court on Tuesday that the company did not transfer the stores to Reliance voluntarily.

Future has said in filings this month that it could not pay rent at many outlets given its distressed financial situation and that Reliance, which had taken over many of its leases, had issued it with termination notices.

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