– Centre mulls probe into charges at NSE under Chitra Ramkrishna
– ED probes use of crypto by Dawood Ibrahim
– Govt to extend window for applications to chip scheme
Now lemme give you a quick glance on the state of the markets.
Asian stocks extended a selloff Friday and investors sought havens including bonds and gold on geopolitical risks from the Ukraine standoff. Shares retreated in Japan, South Korea and Australia.
Elsewhere, the yield on 10-year Treasuries fell one basis point to 1.95%. The dollar held its bid and was firm at $1.1359 per euro and $0.7181 per Aussie. Cryptocurrencies have suffered sharp falls, leaving Bitcoin below $41,000.
That said, here’s what is making news.
India’s capital markets regulator may ease rules on pricing of share sales by the government in listed public sector entities, ET reported. This is aimed at helping the government get better valuations during stake sales in state-owned companies.
India Ratings & Research (Ind-Ra) expects banking sector credit growth to hit double digits for the first time in eight years supported by demand for loans from companies to support rising capital expenditure.
Foreign portfolio investors (FPIs) sold Indian equities at a record pace thanks to flow rotation among emerging markets (EMs). Since October 2021, they have sold equities worth $11.5 billion (Rs 86,000 crore), according to the data from NSDL. This was higher than the net FPI outflow of $9.4 billion (Rs 43,000 crore) between March and November 2008 amid the subprime crisis. FPIs are now turning their attention to commodity exporting countries, such as Brazil, and away from importers such as India.
As new-age companies feel the pressure of broader market rout, online pharmacy PharmEasy may have to readjust its valuation it was aiming for through a public offering, according to industry sources. In what could be an indication of the same, in the grey market, its shares are currently being traded anywhere between Rs 70 and Rs 80, significantly lower than over Rs 100 earlier this year.
NOW Before I go, here is a look at some of the stocks buzzing this morning…
Naveen Munjal-led Hero Electric has withdrawn its petition seeking
an injunction against Hero MotoCorp for using the brand ‘Hero’ for electric vehicles.
Ambuja Cements Ltd on Thursday reported a decline of 55.48 per cent in its consolidated net profit to Rs 430.97 crore for the fourth quarter ended December 31, 2021.
Nestle India on Thursday reported its net profit for the December quarter at Rs 386.66 crore, down 19.99 per cent from Rs 483.31 crore reported in the same quarter last year.
Reliance Jio Infocomm lost 12.9 million 4G subscribers in December 2021, dragging its gross user base down to 415.71 million, indicating that the massive clean-up of low-paying customers undertaken by the telecom market leader in the fiscal second quarter continued into the October-December period.
Do also check out over two dozen stock recommendations for today’s trade from top analysts on ETMarkets.com.
That’s it for now. Stay with us for all the market news through the day. Happy investing!