– Same person cannot head both Tata Sons & Tata Trusts
– LIC files papers for IPO
– Crypto industry asks Centre to rethink TDS
– Electronics sales up 9% over pre-Covid levels
Now lemme give you a quick glance on the state of the markets.
Asian stocks slipped on Monday as warnings Russia could invade Ukraine at any time sent oil prices to seven-year peaks, boosted bonds and belted the euro.
Elsewhere, the yield on 10-year Treasuries rose one basis point to 1.95%. The dollar and safe-haven currencies held gains and riskier ones struggled for traction on Monday, with traders on edge about the prospect of war in Europe and unsettled by soaring inflation. Oil prices on Monday hit their highest in more than seven years on fears that a possible invasion of Ukraine by Russia could trigger US and European sanctions that would disrupt exports from the world’s top producer in an already tight market.
That said, here’s what is making news.
The biggest value creator among Bajaj companies has been Bajaj Finance, which delivered a return of 80% annually in the last 10 years, becoming the country’s ninth-largest company by market capitalisation. In 2010, Bajaj Finance had a market capitalisation of just over ₹1,100 crore, which grew to about ₹4.23 lakh crore today. It was followed by Bajaj Finserv, which posted a compounded annual growth rate of 48%.
India Inc continued to report double-digit year-on-year growth in revenue and net profit for the December quarter though input cost inflation continued to dent operating profit, resulting in a multi-quarter low margins. For a common sample of 2,509 companies, December was the fourth consecutive quarter of double-digit topline growth.
The government will explore permitting a limited set-off of one year’s losses from cryptocurrency trade against profits made in the same financial year. Such set-offs are allowed in listed and unlisted stock transactions, with the law even allowing carrying forward of the loss by four to eight years, depending on the nature of the trade.
LASTLY,
Indian equities are likely to be on a weak footing next week amid concerns over growing tensions between Ukraine and Russia, multi-year high oil prices and four-decade high inflation in the US stoking sharper rate hike concerns.
NOW Before I go, here is a look at some of the stocks buzzing this morning…
Edible oil major Ruchi Soya Industries Ltd on Sunday reported a 3 per cent increase in its net profit to Rs 234.07 crore for the quarter ended in December 2021.
The total dividend payout by Coal India during the current fiscal is likely to be higher than the 2020-21 financial year as the miner is expected to post healthy revenue and growth in profit. A decent second interim dividend for 2021-22 is likely to be announced on Monday, PTI reported.
Tata Consultancy Services (TCS) shareholders as of February 23 will be eligible to participate in its Rs 18,000-crore share buyback —
fourth in the past five years and biggest.
Advertising Standards Council of India (ASCI) has decided to take up a complaint against EaseMyTrip with the Centre for ignoring its advice even as the BSE-listed travel portal has filed a lawsuit against the advertising industry’s self-regulatory body.
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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!
