Top 5 Stock To Watch out And Trade Today – March 08, 2022

Top 5 Stock To Watch out And Trade Today – March 08, 2022

Best Stocks to Buy Today

TOP 5 STOCKS TO WATCHOUT:-

1. AMAZON: For more than a year, Amazon.com Inc and India’s Future Group have been locked in a complex legal stand-off that has stalled Future’s $3.4 billion sales of assets to rival Reliance Industries, the country’s biggest conglomerate.

After trading barbs in courtrooms for months, Amazon and Future unexpectedly agreed on March 3 to hold discussions to resolve their dispute.

Here’s what the dispute, seen as key to deciding who gets an upper hand in one of the world’s fastest-growing retail markets, is all about and what led to the sudden change in tone.

In 2019, Amazon and Future, the number two player in India behind market leader Reliance, became business partners when the U.S. company invested $200 million in a unit of the Indian group.

That deal, Amazon argues, came with non-compete clauses that prohibited Future from selling retail assets to certain rivals, including Reliance, run by one of India’s richest men, Mukesh Ambani. The deal also included clauses for settlement of any disputes under rules laid down by the Singapore International Arbitration Centre.

But in 2020, Future – hit hard by the COVID-19 pandemic – decided to sell assets to Reliance.

Amazon then approached Singapore arbitrators and successfully stopped the sale. Both parties have also challenged each other with lawsuits in Indian courts, including the Supreme Court since the “seat of arbitration” remains in New Delhi and Indian law governs the proceedings.

2. AIRBUS: European planemaker Airbus chose the Australian miner Fortescue Metals Group  Ltd’s hydrogen unit to help it reduce CO2 emissions from flying, Fortescue Future Industries (FFI) said in a statement on Tuesday.

The move, marked by the signing of a Memorandum of Understanding, reflected the companies’ “shared ambition … to support the entry-into-service of a hydrogen-based aircraft by 2035,” according to the news release.

FFI’s chairman, Australian magnate Andrew “Twiggy” Forrest, has built most of his wealth in the highly emitting iron ore mining sector, but recently became one of the business world’s most outspoken advocates for fighting climate change.

“The time is now for a green revolution in the aviation industry,” he was cited as saying.

 3. GENERAL MOTORS:-.-General Motors Co and South Korea’s POSCO  Chemical will build a $400 million facility to produce battery materials in Canada as the carmaker ramps up plans to produce mainly electric vehicles (EVs) in the future, the companies said on Monday.

The plant will produce cathode active material (CAM) for vehicle batteries in Becancour, Quebec. Cathodes are the most complex and costly chemical component of an electric vehicle battery.

The cathode “represents about 40% of the cost of every EV batteave it running ry cell,” said Scott Bell, GM Canada’s President and Managing Director, in a news conference. “We plan to have capacity by 2025 to build a million EVs in North America.”

The plant’s construction will begin immediately and the goal is to hby 2025. Once completed, it will create an estimated 200 jobs, according to a statement. GM aims to produce light vehicles that run exclusively on electricity by 2035.

The CAM produced at the plant will be used to make GM’s Ultium batteries that will power the company’s EVs, such as the Chevrolet SilverBoth Canada’s federal government and Quebec’s provincial government are working with GM and POSCO Chemical, the companies said, though details were not released.

Rich in key materials for EV battery production – including lithium, graphite, cobalt, and nickel – Canada has been wooing battery makers to safeguard the future of its car manufacturing industry as the world seeks to cut emissions.

4. KOHL: Department store operator Kohl’s Corp, which rejected two separate takeover bids earlier this year, said on Monday that it had contact with more than 20 parties and signed confidentiality agreements with some, giving them access to more financial data.

Investment bank Goldman Sachs spent January, February, and March engaging with more than 20 financial sponsors, strategics, and real-estate-focused investors regarding a range of potential strategic alternatives involving the company, Kohl’s wrote in its proxy statement on Monday.

Some parties signed confidentiality agreements that gave them access to a data room, presentations from senior managers and invitations to submit proposals, Kohl’s wrote.

The bank interacted with parties that submitted interest in the company and its bankers made outbound calls to others, the proxy said.

5.P&G:-Procter & Gamble Co is ending all new capital investments in Russia and “significantly reducing” its portfolio to focus on basic hygiene, health, and personal care items, CEO Jon Moeller said in a letter to employees posted on its website on Monday.

Big investors such as New York State’s pension fund are telling companies they should consider pausing operations in Russia as Russia invades neighboring Ukraine.

Cincinnati, Ohio-based P&G is also suspending all media, advertising and promotional activity, Moeller said in the post. The company said on its website that its Russian division makes Tide detergent, Pampers diapers and Gillette razors.

P&G has 2,500 direct employees in Russia and 500 in Ukraine, according to a spokesperson. Moeller said in the blog post that the company “proactively suspended” operations in Ukraine and is providing evacuation support, financial assistance, food and shelter to help employees.

P&G’s business in Russia and Ukraine accounts for less than 2% of the company’s global sales, a spokesperson said. P&G had $76.1 billion in global net sales in its last fiscal year.

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