A collective penalty of over ₹1500 crores had been imposed on Apollo Tyres, MRF Ltd., CEAT Ltd., JK Tyre and Birla Tyres besides a cease and desist order and a separate penalty of ₹8.4 lakhs on the association.
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When you see a proportion of almost a 25% jump on open interest on the Bank Nifty in a matter of three-four days, it means that the market participants are expecting that a much bigger trend could evolve on the index, says the independent market expert Kunal Bothra. Excerpts from an interview:
Just structurally, where do you think the market is going to move?
It was a bit of a choppy week. The start of the week and the end of the week was exceedingly strong. Previous week, the handover for the markets was a bit sombre. We started off the April series on a bit of a sticky wicket. This week it was more of a carry forward move. When you generally see a start of a fresh trend on the index, the first move is a bit difficult to try and catch because the markets are bit more sceptical on whether this is a start of a fresh move or whether the previous trend would probably repeat again.
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The online to offline doorstep tyre delivery-cum-fitment service will be offered under JK Tyre Man initiative, which will be rolled out first in Bangalore in its pilot phase from March 2021, before being rolled out to the major cities and towns in India by Q2 of 2021, it added.
Agencies This partnership with JK Tyres and Car Dekho takes the tyre purchase experience to the next level with our doorstep services, Shalini added.
JK Tyre & Industries Ltd on Thursday said it has entered into a strategic partnership with CarDekho and AutoBrix for online to offline doorstep tyre delivery-cum-fitment service. Under the initiative, JK Tyre will use its existing channel network to extend its products and services to consumer s doorstep with CarDekho s automobile platform providing the online channel to purchase car tyres from JK Tyre and AutoBrix India enabling tyre delivery and fitment at customer s doorstep, the company said in a statement.
Tata Steel along with the other steel companies are seeing a cyclical rebound. The domestic volumes are very strong. EBITDA is expected to show very good margin improvement. Commodity companies normally do not see such margin improvements year over year. So, what is the weak point? The weak point is the European operations of Tata Steel. But spring is coming in Europe and demand should go up as the Europe economy opens up. There is yet another stimulus plan and a restructuring plan in Tata Steel. These are enough catalysts to keep the stock continuing on its upward journey. Even at the current prices, its valuation is still very attractive; it trades at 6-7 times EV/EBITDA on FY23. Notwithstanding the current weakness, the stock has enough upside left.