PremiumCentral bankers continue to give hints that inflation remains a concern. RBI suggested that a premature pause in rate tightening would be a "costly policy error at this juncture". On the other hand, Fed Chair signalled that the central bank's battle against inflation is not yet over,
Amid a rise in Covid cases in some countries, The Indian Medical Association advised citizens to avoid public gatherings such as marriages, political or social meetings as well as international travel. In an advisory issued by the IMA, it also appealed to the citizens to take COVID-19 vaccines, including the precaution dose.
They also asked the citizens to follow Covid-appropriate behaviour such as using masks in public places and maintaining social-distancing norms to "overcome the impending Covid outbreak". (Read More)
India’s auto component manufacturers expect export growth to be muted in the last quarter of the fiscal due to the recessionary environment in the US and the EU, while imports of auto parts, particularly electronic components, are expected to stay elevated as domestic demand rises.
In the first half of FY23, North America and Europe together accounted for over 63% of the sector’s total exports. A resurgence of covid-19 in China and Japan does not threaten major supply chain disruptions, although the industry remains cautious in its outlook. (Read More)
Shares of Aban Holdings Limited are going to list on Indian bourses today. As per the information available on the BSE website, effective from Friday, December 23, 2022, the equity shares of Abans Holdings Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' group of securities. Aban Holdings shares will become available for trade-in special pre-open session today. (Read More)
Shares of Landmark Cars Limited are going to list on BSE and NSE on 23rd December 2022 i.e. today. As per the information available on BSE website, effective from Friday, December 23, 2022, the equity shares of Landmark Cars Limited shall be listed and admitted to dealings on the exchange in the list of 'B' group of securities.
According to stock market experts, the issue is fully priced with a PE multiple at around 28. They said that in the current market condition it won't be fair to expect much from the public issue and expected a flat to discounted listing of the IPO. They said that in case of a weak market opening, we may see Landmark Cars shares listing at around 5-7 per cent discount. (Read More)
In a fresh twist to the Yes Bank-Dish TV case, the private sector bank has transferred its 24.19% stake to JC Flowers Asset Reconstruction Co, along with the underlying loan to Subhash Chandra’s Essel group companies, the bank said in a stock exchange filing on Thursday.
The move is part of the lender’s move to transfer bad loans worth ₹48,000 crore from its books to the asset reconstruction company under the proposed 15-85 structure. With the transfer of Dish’s shares, it will have more flexibility to proceed with the recovery process. (Read More)
Wall Street stocks tumbled Thursday, closing in a sea of red after data that indicated a strong labour market and better-than-expected economic growth.
The Dow Jones Industrial Average closed 1.1% down at 33,027.49, while the broad-based S&P 500 Index lost 1.5% to 3,822.39.
The tech-rich Nasdaq Composite Index plunged 2.2% to 10,476.12.
Calling the tumble a "Grinch selloff," Edward Moya of the OANDA trading platform said the drop came as "better-than-expected US economic data supported the (Federal Reserve's) case for more ongoing rate increases."
The Fed has hiked its benchmark lending rate multiple times this year to rein in surging inflation.
Although it moderated its pace of rate increases this month, Fed Chair Jerome Powell has signalled that the central bank's battle is not yet over, fueling market jitters. (AFP)
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