A chart is displayed on the screen of a stock exchange. (Photographer: Krisztian Bocsi/Bloomberg)

Share Market Live: SGX Nifty Hints At Muted Open; Britannia, Aurobindo Pharma, Sobha In Focus

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TVS Motor In Talks With Global PE Investors To Raise Up To $500 Million For EV Unit: Economic Times

  • TVS Motor is in talks with global private equity investors to raise $300 million-$500 million for its electric vehicle subsidiary at a valuation of $3.5 billion-$4 billion, Economic Times reported, citing three people familiar with the matter.

  • TVS is said to have an investment banker to advise it.

  • Exact amount of investment and valuation is yet to be firmed up.

Analyst Actions: Muthoot Finance, Sun TV

  • Muthoot Finance cut to 'accumulate' from 'buy' at Nirmal Bang; price target: Rs 1,854

  • Sun TV raised to 'buy' from 'accumulate' at Dolat Capital; price target: Rs 722

Source: Bloomberg

Rupee May Gain More From Share Sale Inflows

  • The Indian rupee may extend gains amid inflows for the nation’s biggest share sale and a weaker dollar. States will sell Rs 6,000 crore of bonds on Tuesday.

  • One97 Communications got bids for 18% of the shares on offer on the first day of its IPO; subscription closes Wednesday and the parent company of Paytm aims to raise as much as Rs 18,300 crore

  • USD/INR fell 0.6% to 74.0237 on Monday; intraday it touched 73.98, the lowest since Sept. 28

  • 10-year yields fell 6bps to 6.3% on Monday after the govt cut tax on retail fuel, easing inflation fears

  • RBI to hold Rs 2 lakh crore 7-day reverse repo auction on Tuesday

  • India will sell Rs 24,000 crore of bonds Friday, including a new 5-year bond

  • Global funds sell net Rs 861 crore of India stocks Monday: NSE

  • They sold Rs 788 crore of sovereign bonds under limits available to foreign investors, and added Rs 16 crore of corporate debt

  • State-run banks sold Rs 1,820 crore of sovereign bonds on Nov. 8: CCIL data. Foreign banks bought Rs 615 crore of bonds

Source: Bloomberg

SGX Nifty Hints At Muted Open; RIL, Britannia, Aurobindo Pharma, Sobha In Focus

Asian stocks rose on Tuesday after U.S. equities extended a winning streak on optimism that the economic recovery can weather inflation risks. The dollar and Treasuries held declines.

Shares advanced modestly in Japan, South Korea and Australia. U.S. futures slipped after the S&P 500 eked out a gain to cement its longest winning run since 2017.

India’s SGX Nifty 50 Index futures for November delivery fell 0.1% to 18,129.00, while MSCI Asia Pacific Index added 0.2%. The NSE Nifty 50 Index gained 0.9% on Monday to 18,068.55.

In cryptocurrencies, Bitcoin jumped past $67,000 for the first time to set a new all-time high

Elsewhere, crude was steady as traders evaluate the possibility of U.S. steps to ease oil and gas prices. Gold was around the highest in two months.

Back home, Britannia, Aurobindo Pharma, Ujjivan Small, Sobha may react as the companies reported quarterly results after the market closed Monday. Mahindra, Power Grid, Petronet LNG, IGL, MRF, BHEL are among the companies scheduled to report earnings Tuesday.

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