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Stocks climbed yesterday after the Reserve Bank of India provided additional liquidity to banks for lending to vaccine makers, hospitals and providers of health services, as well as easing rules for small businesses to restructure loans.
Adani Power reported net income for the fourth quarter of Rs 13.13 crore vs. loss Rs 1,310 crore year-on-year.
COMMENTARY AND CONTEXT
Here’s What Else the RBI Can Do as Pandemic Rages on
Happiest Minds Technologies Ltd. rose 9.2%. Trading volume was triple the average for this time of day. The stock was the best performer among its peers.
A gradual exit from the loose monetary policy will now be delayed from mid-2021 (envisaged at the start of the year) to end-2021, but not fully ignored.HSBC
Analysts Remain Bullish On Tata Steel Citing Deleveraging, Expansion Plan
IDBI Bank Ltd. rose 10% after a plan to privatize the lender was approved.
The government plans to sell all or part of its 45.5% stake in the lender, as well a state-owned Life Insurance Corp. of India’s 49.2% ownership, according to a government statement on Wednesday. The sale envisages ceding management control, according to the statement.
The strategic buyer is expected to infuse funds and generate more business “without any dependence on LIC and government assistance,” according to the statement.
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India’s Stock Market Lives on Another Planet
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