Hi hello. Welcome to ETMarkets Morning, the money, business and markets show. I am Nikhil Agarwal. Let’s start with the headlines first.

– Experts predict second-quarter GDP growth of 7.5-8.5%
– The actions of GO Fashion to list today
– LIC obtains RBI approval to increase stake in Kotak
– More than 123 doses of Covid cr vaccine administered to date

Now let me give you a quick overview of the state of the markets.

Asian markets rose on Tuesday amid easing concerns over the omicron coronavirus strain and data signaling improved activity at Chinese factories. Japanese stocks led regional gains, China edged up and Hong Kong fell.

Elsewhere, the yield on 10-year Treasuries rose two basis points to 1.52%. The dollar hovered above the one-week low against major peers it hit last week on Tuesday, as fears eased that the new variant of the Omicron coronavirus would derail the US recovery and delay Federal Reserve interest rate hikes.

———–

That said, here’s what’s in the news.

At least seven companies plan to launch their initial public offerings in the next 10 to 15 days to raise more than Rs 19,000 crore, bankers say. The Star Health issue opens on Tuesday, while software companies CE Info Systems and RateGain Travel, as well as Anand Rathi Wealth, launch their IPOs next week. The IPOs of Adani Wilmer and Go First Airlines are expected to be open for subscription in the second or third week of December. Tega Industries’ offer will open on Wednesday.

The third tranche of the Bharat Bond ETF aims to raise up to Rs 5,000 crore, offering an estimated return of 6.8%, two market sources familiar with the matter told ET. The exchange-traded fund (ETF) will open for subscription this Friday, offering a safe investment for risk-averse investors.

Investors, who withdrew money from stocks after the sharp rise, could purchase gold through the eighth tranche of the Sovereign Gold Bond issue which will be open until December 3. Given the uncertainty surrounding the new variant of the virus, planners believe investors should hold 10 percent of their total portfolio in gold.

RECENTLY,

Foreign funds, which are taking money out of Indian stocks due to concerns such as high valuations, a hawkish US central bank, and a stronger dollar, among others, have one more reason to remain cautious on stocks here: the new variant of Covid. As these foreign investors go into risk mode in emerging markets, including Asia, global equity strategists and fund managers are monitoring the extent of the epidemic that will determine their future allocations.

NOW Before you go, here’s a look at some of the stocks that are buzzing this morning …

PNB will invest as a promoter in Open Network for Digital Commerce by acquiring more than 9% of the capital of the company, which has not yet been incorporated. Open Network for Digital Commerce (ONDC) Ltd is being established with a mandate to develop an open network for digital commerce, PNB said in a regulatory filing.

B2B e-commerce company Indiamart Intermesh has acquired a stake in trade receivables discount system services company M1xchange for Rs 32.4 crore.

Reliance Industries categorically denied any intention to bid for British telecommunications group BT on Monday.

LIC will increase its stake in private sector lender Kotak Mahindra Bank to nearly 10 percent, after receiving approval from the Reserve Bank of India (RBI).

——-

Also check out over two dozen stock recommendations for today’s trade from top analysts on ETMarkets.com.

That’s all for the moment. Stay with us for all the market news throughout the day. Good investment!


Source link