Top 5 Stock To Watch out And Trade Today – March 16, 2022

Top 5 Stock To Watch out And Trade Today – March 16, 2022

Best Stocks to Buy Today

1.BMW:- BMW lowered its profit margin expectations for its automotive segment for 2022 due to the war in Ukraine, the German carmaker said on Wednesday.

BMW Group now predicts growth of earnings before interest and taxation (EBIT) in its car segment in a range of 7-9% due to the war’s effects on production.

Without the impact of war, the company would have targeted a range of 8-10%, it said.

BMW said production interruptions should continue to be expected due to the war, adding it was able to continue to source parts from western Ukraine.

2.AIR ASIA: Malaysia’s Airasia X (AAX) said on Wednesday it had completed its debt restructuring, and will write 33 billion ringgit ($7.86 billion) back to profits in the next quarter.

Under the airline’s restructuring proposal, it would pay just 0.5% of debt owed and end its existing contracts. It was approved by its creditors and the High Court of Malaya last year.

The restructuring was proposed to avoid liquidation after the long-haul low-cost airline posted a record quarterly loss last September. It is one of many carriers in the Asia-Pacific region to have entered a court-overseen debt restructuring process to survive the pandemic.

 3.STANDARD BANK:-.Standard Bank will stop financing all new coal- and oil-fired plants in most circumstances and reduce its fossil fuel exposure over time as part of a plan to reach net-zero by 2050, the South African lender said on Wednesday.

Companies in the financial services sector are increasingly committing to net-zero targets as part of their efforts to contain global warming, and are under pressure to provide details on the short-term cuts needed to meet the goals.

Standard Bank, Africa’s largest lender by assets, said it will no longer fund the construction of new coal-fired power plants or expansion of existing ones. Funding for new coal mines is allowed “only when there is a positive environmental impact”.

4.MERCEDES BENZ:-Mercedes-Benz AG won’t cut spending on future electric vehicles even as it copes with supply-chain cost pressures exacerbated by the Russia-Ukraine conflict, the German automaker’s chief executive said on Tuesday.

Ola Kaellenius, speaking during the company’s opening of its first U.S. electric vehicle (EV) battery factory, also affirmed the company’s 2022 financial outlook remained in place despite the conflict.

“We always protect the investment into future technology and future products,” Kaellenius told Reuters. “That is the seed which we will harvest. Not even in COVID year of 2020 did we cut back on R&D for crucial projects.”

Mercedes is working with suppliers in Ukraine whose operations have been disrupted, he added, but it was “too early to tell what the wider ramifications will be.”

5.WALMART:-U.S. retail chain Walmart  Inc plans to hire more than 5,000 new associates globally to its tech hubs during the current fiscal year, the company said on Tuesday.

The company’s technology unit Walmart Global Tech would be hiring for positions such as cybersecurity professional, product manager and data scientist, among others.

Walmart Global Tech will also add two new global tech hubs in Toronto and Atlanta, taking the total count to 17, according to a Walmart spokeswoman.

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