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India's own proxy for Tesla disappoints in first step; brokerages rush to degrade it


India’s own proxy for Tesla disappoints in first step; brokerages rush to degrade it
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The sentiment was buttressed by the company s announcement earlier this year that it has acquired 127 acre land in Gujarat’s Dholera region to set up a lithium-ion plant.
Reuters
For many investors, unable to invest in stocks like Tesla to capitalise on an industry of the future, Tata Chemicals became a natural proxy.
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MUMBAI: In the first four months of 2021, shares of
Tata Chemicals soared nearly 70 per cent driven by the expectations that the company will soon set up a lithium-ion battery plant in the country to capitalise on the growing demand for such energy storage units and the production-linked incentive plan announced by the government. ....

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Nestle India Ltd.: Nestle India Q1 preview: PAT may rise 12% YoY led by strong domestic performance


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MUMBAI: Fast-moving consumer goods company Nestle India is likely to report a 12 per cent year-on-year rise in net profit to Rs 589 crore for the quarter ended March, an average of estimates by eight brokerages showed.
The company is also expected to report a strong 8.2 per cent on-year growth in revenues in the quarter to Rs 3,598.1 crore, an analysts’ poll showed. Nestle India considers January-December as its financial year.
Nestle India will report its first quarter earnings on Tuesday.
The company’s strong topline growth will be largely due to the broad-based growth expected in the domestic market despite the handicap of a strong quarter in a year ago. Brokerage firm Axis Securities expects the company’s domestic revenues to grow 9 per cent led by 7 per cent rise in volumes and 2 per cent increase in prices. ....

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