A bronze bull statue stands at the entrance of the BSE building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)
5 years ago
Apr 28, 2021
Axis Bank, Bajaj Finance, Britannia, TVS Motor, ABB, Nippon Life, HDFC AMC, PNB Housing may react as the companies reported quarterly results after the market closed Tuesday. Biocon, Bajaj Finserv, UTI Asset are the companies scheduled to report earnings Wednesday. Foreign investors sold net Rs 1,055b crore of stocks on Monday, according to the NSDL website.
Wipro or Tata Steel may replace ONGC in benchmark S&P BSE Sensex Index after BSE’s review of the gauge in June, Brian Freitas, an analyst on Smartkarma writes in a note.
Index changes will be effective after the close of trading on June 18 and the results of the review will be announced 4 weeks prior to that date
“BFL continues to hold a management overlay of R 840 crore in provisions, given the dynamic and evolving nature of the pandemic along with other variables.’’
Zomato Ltd., an Indian food delivery startup backed by Jack Ma’s Ant Group, sought regulatory approval for an initial share sale of as much as 82.5 billion rupees ($1.1 billion), according to documents filed with the Securities & Exchange Board of India.
The IPO will comprise of the issue of fresh sale of as much as Rs 7,500 crore and an offer for sale by shareholder Info Edge India Ltd. for Rs 750 crore
Kotak Investment Banking, Morgan Stanley, Credit Suisse, BofA Securities and Citi are the bankers for the IPO
The U.S. this week said it will help India by sending items needed to manufacture vaccines as part of an aid package. European countries are also pledging support after the South Asian country saw record numbers of new cases. India today began registering people from 18 years of age to get vaccinations from May 1.
The outbreak in India poses downside risks to GDP and heightens the possibility of business disruptions, S&P said in a report, signalling that it may revise its growth forecasts.
Negative credit spillovers to S&P rated portfolio remains limited, but the situation is fluid
High absolute number of infections in India also presents a significant contagion risk to other geographies
A drawn-out COVID-19 outbreak will impede India’s economic recovery, which S&P says will prompt a revision of the base-case assumption of 11% growth over fiscal 2021/2022, particularly if the government is forced to reimpose broad containment measures
