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Sell ​​after quarterly results in Tata Motors, should you invest in Rakesh Jhunjhunwala’s preferred stock?

Tata Motors Stocks: Legendary investor Rakesh JhunjhunwalaTata Motors shares in the portfolio are being sold on May 19…

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Sell ​​after quarterly results in Tata Motors, should you invest in Rakesh Jhunjhunwala's preferred stock?

Tata Motors Stocks: Legendary investor Rakesh Jhunjhunwala Tata Motors shares in the portfolio are being sold on May 19. Tata Motors shares have fallen 4.5 percent to Rs 312 today. Whereas it closed at Rs 332 on Tuesday, the day of the quarterly results. In fact, Tata Motors has incurred a loss of Rs 7,585 crore in the March quarter. At the same time, the management has said that due to the second wave of Corona, once again deteriorating situation can affect the business. This has disturbed the sentiment of investors. However, some brokerage houses are still positive about the stock outlook.

Rakesh Jhunjhunwala has more than 4 crore shares

Tata Motors is also among the stocks of choice of Rakesh Jhunjhunwala. Last year, he invested heavily in Tata Motors due to the company’s growth outlook. Currently, he has a 1.3 percent stake in this auto company. Rakesh Jhunjhunwala owns 42,750,000 shares of Tata Motor, with a current value of Rs 1,346.6 crore.

Losses decreased in March quarter

Tata Motors incurred a loss of Rs 7,605 crore in the March quarter. While the expert had expected the company to turn a profit in the March quarter. However, this deficit is less than the year-ago quarter. Tata Motor had a loss of Rs 9,894 crore in the same quarter a year earlier. The company’s revenue grew 41.7 percent to Rs 88,628 crore in the March quarter. Whereas in the same quarter last year, the company’s income was Rs 62,492 crore.

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In the entire financial year ended in March 2021, Tata Motors’ has suffered a net loss of Rs 13,395 crore. During its last financial year i.e. FY 2019-20, companies incurred a loss of Rs 11,975 crore. Indian business has been better than expected. But JLR’s business performance has been lower than expected. Management has made a cautious commentary on JLR and Indian business.

covid-19’s impact on business

Tata Motors Management has once again expressed concern over the deteriorating situation due to the second wave of Corona. This may affect the business of the company. So far in the first quarter of FY 2022, the second wave of corona virus has shown an impact on India volume. About 80 percent of the dealerships have been closed during this period. Sales have fallen by 50 per cent in April. In May 2021, worries have increased. This may affect the performance ahead of the company.

What to say about a brokerage house

Brokerage house Motilal Oswal has set a target of Rs 400, recommending buying in the stock. According to the brokerage, Kovid 19 is a concern but in the near term, the company will benefit from macro recovery, company specific volume / margin drivers. Brokerage house CLSA has also given a buy rating in Tata Motors shares and has set a target of Rs 450. While Goldman Sachs has suggested a sale in Tata Motors. The target for the stock has been reduced to Rs 254.

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At the same time, UBS has set a target of Rs 360, giving a neutral rating on Tata Motors. Whereas Nomura has advised Tata Motor to reduce yoyers and has set a target of Rs 313. Brokerage house CITI has given a buy rating and set the target for the stock at Rs 395.

Manvendra Chaudhary, with over 5 years of professional experience as CEO of Unique News and Megalent Marketing, shares insights on life, business, and health for your success.

World

Prime Hydration Faces Lawsuits Claiming Its Sports Drink, Prime Energy, Contains PFAS and Excessive Caffeine

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Prime Hydration

Prime Energy, the sports drink from Prime Hydration, has been hit by a number of lawsuits for containing excessive amounts of caffeine and PFAS. Another lawsuit was filed on April 8 in the Southern District of New York, accusing Prime Hydration, the parent company which manufactures the sports drink, of engaging in misleading and deceptive practices.

Prime Hydration was founded by two Logan Paul and KSI in 2022, and the products became very popular thanks to the huge followings of the YouTubers. However, the company is now facing a slew of lawsuits over the ingredients in their energy and sports drinks.

New Lawsuit Against Prime Hydration

The latest lawsuit, filed on April 8, accuses the company’s 12-ounce energy drinks of containing 215-225 milligrams of caffeine, exceeding the permissible limit of 200 milligrams. The lawsuit was filed by Lara Vera, a resident of Poughkeepsie, New York.

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The lawsuit details that the plaintiff had purchased Prime’s Blue Raspberry products on numerous occasions in August 2022 for about $3 to $4 each, unaware that the products contained caffeine beyond the permissible limits. The plaintiff is seeking damages of $5 million from the company. Lara Vera’s lawsuit alleges that Prime advertised 200 milligrams of caffeine, which is equal to six Coke cans or two 12-ounce Red Bulls. One Red Bull can could contain 114 milligrams of caffeine.

Also Read: Johnson Controls subsidiary Tyco Fire Products to pay $750 mn to settle ‘forever chemicals’ lawsuit

The suit also alleges that there are no safe limits of caffeine for children and that caffeine has been indicted for causing tachycardia, headaches, convulsions, tremors, upset digestion, and adversely affecting mental health.

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Earlier, Senator Charles Schumer, D-N.Y., had asked the Food and Drug Administration (FDA) to investigate Prime energy drinks in 2023 after reports that the products contained high levels of caffeine. The Senator also accused the company of using vague marketing tactics focused on young people, influencing parents to buy the caffeine-laced drinks for their kids. The lawsuit by Vera also quotes the Senator’s call to the FDA.

Prime is also facing another lawsuit filed on Aug. 2, 2023, in the Northern District of California by the Milberg law firm on behalf of Elizabeth Castillo and others. The lawsuit charges Prime’s products with using flavors containing PFAS, or “forever chemicals.” Forever chemicals are a class of chemicals that are not degraded in the human body or nature and have been indicted as a carcinogenic substance. Independent third-party testing has confirmed that Prime Hydration grape flavor contained PFAS.

Also Read: California mother files lawsuit against Tesla after her 2-year-old child starts Model X and runs over her

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Net Worth

George T. Conway Net Worth 2024: How Much is the American Lawyer Worth?

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George T. Conway Net Worth 2024: How Much is the American Lawyer Worth?

Who is George T. Conway?

George T. Conway, also known as George Thomas Conway III, is a distinguished American lawyer and political activist. Born on September 2, 1963, in Boston, Massachusetts, Conway is renowned for his legal expertise and vocal opposition to former President Donald Trump’s administration.

George T. Conway Career

Conway’s legal career is illustrious, marked by significant contributions to various fields such as securities, mergers and acquisitions, contracts, and antitrust issues. He began his career as a law clerk at the US Court of Appeals and later joined prestigious law firms, including Wachtell, Lipton, Rosen, and Katz. Notable cases include representing Paula Jones in a trial against President Bill Clinton and securing a victory against the National Australia Bank. Furthermore, Conway has been actively involved in political activism, co-founding groups like Checks and Balances and the Lincoln Project, which oppose Trumpism and advocate for democratic principles.

George T. Conway Net Worth

As of 2024, according to Celebrity Net Worth, George T. Conway’s net worth is estimated to be approximately $39 million. His wealth primarily stems from his successful legal career, where he has handled high-stakes cases and served as a partner in prestigious law firms. Additionally, Conway’s involvement in political activism, public speaking engagements, and media appearances contribute to his financial status.

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George T. Conway Age

Born on September 2, 1963, George T. Conway is currently 60 years old as of 2024.

George T. Conway Family: Wife and Children

George T. Conway was previously married to Kellyanne Fitzpatrick Conway, a prominent political consultant and former White House counselor. The couple has four children: Claudia, Vanessa, Charlotte, and George Jr. Their marriage ended in separation in 2023.

George T. Conway Height and Weight

George T. Conway stands at 5 feet 7 inches tall and weighs around 84 kg. He possesses a charming personality with black hair and captivating black eyes.

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Also Read: Robert Kraft Net Worth 2024: How Much is the CEO of the New England Patriots Worth?

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Grindr, LGBTQ+ Dating App, Faces Lawsuit in UK Over Alleged Sharing of Users’ HIV Status

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Gay dating app Grindr has been slapped with a lawsuit instituted by hundreds of its users. The lawsuit alleges that the app shared private information, including the HIV status of users, with third parties without consent. Filed in London’s High Court, the lawsuit, according to Austen Hays from the law firm representing the plaintiffs, suggests that thousands of Grindr users in the United Kingdom may have been affected.

The law firm claims that Grindr shared highly sensitive user information with third parties for commercial purposes, including HIV status. Grindr, the largest dating app catering specifically to the LGBT community, is accused of sharing data with data analytics companies Apptimize and Locally.

The lawsuit further alleges that the app used covert tracking technology to gather sensitive information, which was then unlawfully shared with advertisers. With over 13 million monthly users and more than 924,000 users reported in the UK as of May 2023, Grindr boasts the highest engagement among dating apps, with users spending an average of six hours and 49 minutes on the app per month.

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A spokesman for the gay dating app stated that they would “respond vigorously to this claim, which appears to be based on a mischaracterization of practices from more than four years ago.”

The lawsuit, signed by more than 670 respondents, claims that the breach occurred between 2018 and 2020. It is anticipated that more people could join the case, potentially numbering in the thousands. If successful, plaintiffs could receive thousands of pounds in damages.

The managing director of the law firm representing the plaintiffs, Chaya Hanoomanjee, stated, “Grindr owes it to the LGBTQ+ community it serves to compensate those whose data has been compromised and have suffered distress as a result. The company must ensure all its users are safe while using the app, wherever they are, without fear that their data might be shared with third parties.”

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Grindr’s spokesperson reiterated the company’s commitment to protecting user data, asserting that they have robust processes in place that fully comply with data privacy regulations in the UK and elsewhere.

Also Read: Johnson Controls subsidiary Tyco Fire Products to pay $750 mn to settle ‘forever chemicals’ lawsuit

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