– Experts warn of a third wave as cases, hospitalisations rise
– Alka Mittal becomes the first woman to head ONGC
– Apple becomes first company to touch $3 trillion market cap
Now lemme give you a quick glance on the state of the markets.
Asian markets opened mostly higher on Tuesday, after US shares also advanced on their first trading day of the year. However, shares in mainland China were trading in the red. MSCI’s index of Asia-Pacific shares outside Japan was up by 0.41 per cent.
Elsewhere, the yield on 10-year Treasuries fell about two basis points to 1.61%. The US dollar reached its strongest level in more than a month against the Japanese yen on Tuesday. Bitcoin hovered around $46,000.
That said, here’s what is making news.
The stock of Maruti Suzuki India has remained range-bound over the past six months following pressure on sales volume and operating margin. However, this may change for the better given the planned new car launches in 2022 and a possibility to regain the market share for the country’s largest passenger vehicles (PV) maker.
Out of the 3,500-plus stocks actively traded on Indian bourses, only 23 gave at least 15% returns in each of the past five calendar years. On a compounded basis in the past five years, these stocks have returned at least 30%. These include Bajaj Finance, Asian Paints, Avenue Supermarts, Adani Enterprises and Jubilant FoodWorks among others.
The Securities and Exchange Board of India (Sebi) will now send show cause notices, summons and orders to securities law offenders via instant messaging platforms such as WhatsApp, Telegram and Signal, a move that will make the processes speedier and efficient. This will be in addition to the normal mode of communication including electronic mail, registered post, courier and fax.
Cryptocurrency platforms that are facing increased scrutiny from tax authorities for Goods and Services Tax (GST) evasion are unclear about “applicable provisions” under the country’s indirect tax regime amid regulatory uncertainty, industry executives told ET.
NOW Before I go, here is a look at some of the stocks buzzing this morning…
RBL Bank, which is in the midst of a regulator triggered managerial change, lost nearly 2.60% of its total deposits as large depositors withdrew funds after the appointment of an additional director to the bank’s board on Christmas Day.
FMCG major Marico on Monday said its consolidated revenue grew in “low teens” during October-December, hit by slowing consumption across the sector due to continuing inflation.
Maruti Suzuki India on Monday said it shipped over two lakh vehicles in 2021, its highest ever in a calendar year, to various markets across the globe. The company exported 2,05,450 vehicles in 2021, the country’s largest carmaker said in a statement.
Hindustan Zinc Ltd (HZL) on Monday reported an 11 per cent rise in integrated metal production at 2,61,000 tonnes in the third quarter of this fiscal, supported by better plant and mined metal availability and improved operating parameters.
Do also check out over two dozen stock recommendations for today’s trade from top analysts on ETMarkets.com.
That’s it for now. Stay with us for all the market news through the day. Happy investing!