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Today’s Market News Highlights

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BSE (source: wikimedia)

These are the important headlines related to Markets and Economy, gathered from the various newspapers.

  • India April-Nov Foreign Direct Investment Rose 22% Y/y to $58.4B
  • Unilever India Profit Disappoints Amid Inflationary Pressure
  • Axis Misses Every Analysts’ Estimates as Profit Plunges 36%
  • Profit was hurt by a 10.5b rupee provisioning charge
  • India Plans $41 Billion Reform to Revive Ailing Power
  • Utilities
  • Measures include smart meters, control systems, power lines
  • India Court to Hear Amazon’s Petition to Halt Future’s Sale Jan. 28
  • Cairn Will Move to Seize Indian Assets to Enforce Tax Triumph
  • Cairn wants India’s response on payment before March 9
  • Pine Labs Begins Tap-on-Phone Contactless Payments in India
  • Eden Renewables India Secures $165m Green Loan for Solar Project
  • Global Funds Sell Net INR16.9B of India Stocks Wednesday: NSE
  • Domestic funds sell net 33.8m rupees of stocks
  • Foreign Investors Buy Net INR2.97B of Indian Equities on Jan. 25
  • India inks MoU with IEA for global energy security, sustainability
  • ED arrests chairman, MD of Mumbai-based realty group in money laundering case.
  • Astral Poly Technik (ASTRA): To consider free share issue on Feb. 3
  • Axis Bank (AXSB): 3Q Net Income -36% y/y to 11.2b rupees, misses est. 23.60b, Provisions 46.04b; Gross NPA 3.44% vs. 4.18% q/q
  • Bank of Baroda (BOB): 3Q net income 10.6b rupees vs. loss 14.1b y/y, beats est. 8.2b, Provisions 39.6b; Gross NPA 8.48% vs. 9.14% q/q
  • Hero MotoCorp (HMCL): Says entered into a distribution agreement with Grupo Salinas in Mexico
  • Hindustan Unilever (HUVR): 3Q Net Income +19% y/y to 19.2b rupees, misses est. 20.5b
  • ICICI Prudential (IPRU): 3Q net income 3.06b rupees Vs. 3.02b rupees Y/y
  • Nippon Life India AM (NAM): 3Q Net Income 2.12b rupees, beats est. 1.52b
  • PNB Housing (PNBHOUSI): 3Q net income 2.23b rupees Vs. 2.35b Y/y
  • United Spirits (UNSP): 3Q net income -11% y/y to 2.3b rupees, beats est. 2.22b
  • United Spirits Not to Give Quantitative Guidance for FY21
  • Welspun India (WLSI): 3Q net income 1.8b rupees vs 731.9m yr ago

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