– Amazon back in SC after talks with Future fail
– No plans to introduce cryptocurrency: Govt
– Zomato, Blinkit in talks for a merger deal
Now lemme give you a quick glance on the state of the markets.
Asian stocks rose on Wednesday amid lower oil prices and an easing rout in Chinese shares, though investors remain braced for volatility surrounding Russia’s war in Ukraine and the looming Federal Reserve decision. Shares climbed in Japan, South Korea and Australia.
Elsewhere, the yield on 10-year Treasuries was at 2.14%. Oil prices rose early on Wednesday, bouncing back after earlier falling more than $1 a barrel, as Russia’s invasion of Ukraine continues to dominate volatile trading with ceasefire talks the latest market trigger. Brent futures were up 83 cents, or 0.8 per cent, at $100.74 a barrel. The dollar was steady.
That said, here’s what is making news.
Investor interest in domestic paper companies has perked up in the past few days after manufacturers raised prices following shortage of wastepaper amid an uptick in demand. Analysts said paper companies are likely to deliver strong earnings growth over the next few quarters thanks to the pick up in demand and better prices. JK Paper, West Coast Paper, and Andhra Paper are among analysts’ top picks.
Consumer prices rising above the Reserve Bank of India’s inflation target for the second straight month may have raised fears of a policy rate increase, but many economists expect the central bank to maintain its accommodative stance to support economic recovery.
Overseas investors holding on to Indian debt may soon join their equity-market peers in queuing up for the exit door as concerns over a price spiral and widening current account gap make local yields rather unattractive.
NOW Before I go, here is a look at some of the stocks buzzing this morning…
The Rs 604.76-crore open offer by the Burman group through various entities to acquire an additional 26 per cent in batteries and flashlights maker Eveready Industries India Ltd is slated to open on April 26, 2022, according to a regulatory filing by the company.
Online food-delivery platform Zomato has held discussions to acquire Blinkit, formerly Grofers, in a share-swap deal.
Tata Motors is planning to invest Rs 15,000 crore in the EV segment in the next five years, a top company official has said.
Future Retail Ltd’s director Rahul Garg has resigned from the board, a regulatory filing by the debt-ridden company said on Tuesday.
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!