Stock market press briefing: ETMarkets Morning Podcast: Why Aramco’s deal overhaul will have limited impact on RIL

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

– Paytm says October GMV rose 131% to $ 11.2 billion
– Amazon wanted the future to resume complaints filed with the ICC
– Consumers will feel the heat of higher input costs
– Airtel increases its tariffs by 20 to 25%

Let me now give you a brief overview of the state of the markets.

Most Asian stocks fell on Monday amid concerns over European restrictions on Covid-19 and the risk that the Federal Reserve would accelerate the withdrawal of stimulus measures. Japan’s Topix index fell 0.6%, the Australian S & P / ASX 200 index fell 0.5% while Nasdaq futures rose 0.2%.

The yield on 10-year Treasuries rose one basis point to 1.56%. The safe haven US dollar traded near a 16-month high against the euro on Monday amid growing anxiety over the impact of rising COVID-19 infections in Europe. The dollar index was trading at 96.065.

Crude oil fell to a seven-week low on Monday, prolonging declines after the drop in the previous session, amid concerns over oversupply after Japan said it was weighing on the release of reserves from oil and the demand for a worsening of the Covid-19 situation in Europe. US West Texas Intermediate (WTI) crude futures fell 0.9% to $ 75.25 a barrel after slipping to $ 74.76, the lowest since October 1.

That said, here’s what’s in the news.

Paytm, listed on the national stock exchanges last week, said the gross value of its merchandise – or payments made to traders through its platform – jumped 131% to $ 11.2 billion last month from to the previous year. The growth was aided by spending the holiday season, the company said in a filing with the ESB on Sunday night.

Reliance Industries shares could be weighed down by dropping its plan to sell stakes with Saudi Aramco, but any weakness is likely to be limited as analysts believe the company does not need to raise funds quickly .

Last week’s decision to repeal all three farm laws is expected to weigh on currency and debt markets, as the move could hurt foreign capital inflows. This is likely to trigger market volatility, pushing the rupee lower against the dollar and bond yields higher, unless further reforms revive global investors’ interest in Indian assets.

RECENTLY,

Star Health and Allied Insurance Company plans to launch its initial public offering of Rs 7,500 crore during the last week of November, according to investment banking sources. The IPO will be the third largest in 2021 after Paytm and Zomato, which respectively raised Rs 18,300 crore and Rs 9,375 crore.

NOW Before we go, here’s a look at some of the actions buzzing this morning.

Bharti Airtel will increase prepaid plan prices by 20-25% from November 26, saying average revenue per user (ARPU) must increase for a “financially healthy business model.”

IRB Infrastructure Developers said its shareholders have passed a resolution that will allow an influx of capital of Rs 5,347 crore into the company.

A vulnerability in Punjab National Bank’s server would have exposed the personal and financial information of its some 180 million customers for about seven months, according to cybersecurity firm CyberX9.

Maruti Suzuki India (MSI) has ruled out returning to the diesel segment because it believes sales of such vehicles would decline further with the start of the next phase of emission standards in 2023, according to a senior company official.

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!


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