India Business News

Business & Economics Podcasts

Listen in to the top business headlines from India every weekday.

Location:

India

Genres:

Business & Economics Podcasts

Description:

Listen in to the top business headlines from India every weekday.

Language:

English

Episodes

Friday, December 08, 2023

12/7/2023

Top things to know today morning: Indian Stock Market: After seven consecutive sessions of gains, benchmark indices took a breather on Thursday. Nifty fell below 20, 900, driven by selling in capital goods, FMCG, IT, and metal stocks. US Markets: Nasdaq surged 1.37% to 14,339.99 points on Thursday, driven by Alphabet and Advanced Micro Devices, boosting optimism about artificial intelligence. RBI's MPC Decision: RBI's Monetary Policy Committee is expected to keep the repo rate steady in its latest review. FII and DII Activity: Overseas investors continued to be net sellers in Indian equities for the second consecutive session. Indian Rupee: The Indian rupee weakened by 2 paise to Rs 83.35 against the U.S. dollar on Thursday. Oil Prices: Oil prices fell to six-month lows on Thursday due to concerns about sluggish energy demand in the US and China. Gold Prices: Gold prices firmed on Thursday as the dollar weakened in anticipation of U.S. non-farm payrolls data. Stock specific updates: Zomato: SoftBank is expected to sell Zomato shares worth $135 million via a block deal at Rs 120.50 per share. Adani Ports & Special Economic Zone: Expects to exceed FY24 guidance of 370-390 MMT and is on track to cross 500 MMT by FY25. Vedanta: In talks with foreign investors to raise $1.25 billion ahead of a $1 billion debt maturity in January 2024. Olectra Greentech: Received a Letter of Award for the supply and maintenance of 40 electric buses from Vasai Virar City Municipal Corporation, Mumbai, valued at Rs 62.80 crore. IRCON International: The Government of India will exercise the greenshoe option, selling an additional 7% stake in the offer-for-sale (OFS) of IRCON International. Container Corporation of India: Signed a MoU with NTPC Vidyut Vyapar Nigam (NVVN) to develop PV Solar renewable energy projects in CONCOR terminals. GlaxoSmithKline Pharmaceuticals: Established an omnichannel team to expand reach and coverage using technology. Completed a VRS for commercial function employees, incurring a one-off cost of Rs 156.57 crore. IIFL Securities: Securities Appellate Tribunal set aside SEBI's order, reducing the monetary penalty from Rs 1 crore to Rs 20 lakh. Bharat Forge: Kalyani Strategic Systems proposed to acquire a majority stake in Zorya Mashproekt India. DB Realty: Vanita Infrastructure's subsidiary acquired equity shares of DB Conglomerate Realty, making it a step-down subsidiary. IRB Infrastructure Developers: Logged November toll collection at Rs 437 crore, a year-on-year increase from Rs 366 crore.

Duration:00:05:21

Thursday, December 07, 2023

12/6/2023

Top Things To Know Today Morning: Domestic equity indices extended their winning streak on December 6, marking the seventh consecutive day of gains. The bullish momentum persisted with notable buying activity in information technology and power sectors, coupled with continuous foreign inflows, propelling the benchmarks to achieve a new high for the third consecutive day. The Sensex concluded the day with a robust gain of 357.59 points, reaching 69,653.73, while the Nifty surged by 82.60 points to attain a new closing high of 20937.70 for both indices. In contrast, U.S. stocks experienced a dip on Wednesday, driven lower by megacaps and energy shares. Concerns over a cooling jobs market heightened expectations of the Federal Reserve initiating interest rate cuts early next year. The S&P 500 dropped by 0.39% to close at 4549.34 points, the Nasdaq Composite Index fell by 0.58% to 14146.71, and the Dow Jones Industrial Average slid by 0.19% to 36054.43. The Reserve Bank-led Monetary Policy Committee (MPC) is anticipated to maintain repo rates unchanged until June next year, according to a report from a foreign brokerage. The decision on rates will be disclosed on December 9 after the bi-monthly MPC meeting that commenced on December 6. Market Movements: Indian Rupee: The Indian rupee strengthened by 6 paise, closing at 83.33 rupees against the U.S. dollar on Wednesday. Oil Prices: Brent crude witnessed a 3.76% decrease, trading at $74.30 per barrel. Gold Prices: Gold prices saw a firming trend on Wednesday as Treasury yields eased. Spot gold rose by 0.3% to $2025.09 per ounce, while U.S. gold futures gained 0.3% to $2043.10. Dollar Index: The U.S. dollar touched a two-week high, while the euro displayed weakness across the board. The dollar index was last down 0.01% at 103.95. Stock-Specific Updates:

Duration:00:06:31