China takes a big step, shares of these Indian companies, competition for selling ”

New Delhi: Tata Motors Limited and Mahindra & Mahindra Limited are in focus during Friday’s trading session. In early trade, Tata Motors shares fell nearly 2 percent to Rs 655.60. So at the same time, the shares of Mahindra & Mahindra Limited fell 1.75 per cent to Rs 2850.15. The Chinese government is a decision behind this decline in shares. Actually, the news has come that China has stopped the supply of rare earth magnets to India.

What is the description?
According to the CNBC-TV18 report, China has stopped supply of rare earth magnets to India. Industry sources said that due to China’s move, Indian EV and Palpaza manufacturers are facing production challenges. Due to this move, automobiles and parties construction companies have contacted the government for help. According to sources, China has banned the supply of rare soil magnets to India since April 4, and is now demanding a final-usage certificate to continue the export of any rare soil magnets other than the authorized rare soil magnets.

Neighboring country
It is also said that importers will have to obtain the final user certificate signed by both the Indian Ministry of External Affairs and the Chinese Embassy. Importers will also have to confirm that rare earth magnets will not be used to make weapons, or not given to a third party. Rare soil magnet tractions are an important part of motors and electric vehicles and other components of automobiles. At the end of the third quarter, Tata Motors saw a 23% increase in EV registration, with the contribution of new products.