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Musk said Tesla might announce another factory site this year, and it expects to have about a dozen in the future. Currently the company has assembly plants in Fremont, California; Austin; Berlin and Shanghai. Musk joked that many had suggested Canada as a site for the next new plant.

Nifty50 on Thursday settled almost flat, but snapped a six day winning run. The index ended up forming a small bearish candle on the daily chart, with a long lower wick. Analysts said the index turned sideways after the recent rally and expect it to find support around 17,200 level.

SoftBank has been reliant on its large and liquid stake in e-commerce firm Alibaba Group Holding Ltd for financing. The group has now raised as much as $22 billion using the shares, the Financial Times estimated.

Retail sales of three-wheelers and commercial vehicles increased by 80.41% to 50,349 units and 27.32% to 66,459 units, respectively.

That will be 20% higher than a year earlier and about 13% more than the previous festive-season peak, recorded in 2017. In the past 10 years, on an average, automakers in India dispatched about a million cars and SUVs in the August to November period, accounting for about 35% of annual sales. In 2017, they sent some 1.15 million vehicles to their dealerships.

In an earnings call with analysts Thursday, Takkar also said that 5G pricing will depend on the evolution and adoption of 5G use cases. But he does see it being priced at a premium to 4G with the caveat that it will require higher data bundling given the expected increase in data consumption over 5G.

Investors await the key U.S. nonfarm payrolls report due at 1230 GMT, which will provide hints of how the U.S. economy is faring. Economists expect an increase of 250,000 jobs for the month of July, after 372,000 were added in June.

“The Rupee’s losses Thursday were exclusive to the local market as the dollar was marginally lower to 106.16,” said a trader from a large bank.“The pressure came from the offshore derivatives market weighing on the rupee,” said the person.

While the electronics market grew by 25% over pre-pandemic levels, it was price-led after companies hiked price tags by 20% on average. Besides, demand for entry-level products is still weak.

Zomato had a blockbuster listing on the Indian stock exchanges on July 23 last year, and its shares more than doubled to an all-time high of ₹169.10 on November 16. Shares of Zomato plunged to an all-time low of ₹40.55 on July 25 after the lock-in period for pre-initial public offering (IPO) shares ended.