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Global Steel Boom Builds as Rampant Demand Overwhelms Supply
A panel of the bank’s central board will meet April 28 to examine the status and decide on fundraising of as much as $2 billion via bonds, the State Bank of India said in a stock exchange filing.
The fund raising in 2021-22 can be in a single or multiple tranches and via a public or private placement of senior notes in U.S. dollar or any other convertible currency
Hindustan Zinc reported net income for the fourth quarter that missed the average analyst estimate.
Commentary
Maruti Suzuki India Ltd.’s profit narrowed and earnings trailed estimates as a resurgent Covid-19 outbreak hit consumer demand in Asia’s third-largest economy.
Net income fell 9.3% to Rs 1,166 crore ($157 million) in the three months ended March 31, the unit of Japan’s Suzuki Motor Corp. said in a statement Tuesday. That’s less than the average analyst estimate of Rs 1,699 crore, according to data compiled by Bloomberg.
Revenue at Maruti Suzuki for the fourth quarter rose 32% year-on-year to Rs 24,113 crore.
Info Edge India Ltd. is higher for the eighth straight day, on track for the longest winning streak since the period ended Feb. 2, 2012.
The stock has gained a total of 8.3% during the streak while the Sensex increased 0.6%.
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Fleeing Workers Force India’s Oil Refiners to Defer Closures
ICICI Bank Vs HDFC Bank: Every Lender Has Its Year
CLSA
Carnelian Capital’s Vikas Khemani Expects Fresh Buying If Nifty Falls 5-7%
OPEC+ Sees Strong Oil Recovery Clouded by India Virus Surge
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ICICI Securities
Motilal Oswal
“The recent news of various countries extending help to India in the Covid fight is further boosting the sentiment,” Ajit Mishra, vice president of research at Religare Broking Ltd. wrote in a note. “We remain cautiously optimistic as volatility is likely to remain high on the back of derivative expiry and upcoming earnings announcements.”
The U.S. announced Monday it would share its entire supply of AstraZeneca Plc’s Covid-19 vaccine with other countries and readied an aid package for India, as President Joe Biden pivots to ramp up U.S. pandemic assistance to the rest of the world.
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