BUSINESS
Rising global Covid cases to impact capital flows, heighten inflation: Ind-Ra
Rising Covid cases globally have the potential to impact capital flows as well as heighten inflation, said India Ratings and Research (Ind-Ra). Accordingly, the agency cited that uncertainty related to a third Covid wave has already started showing signs in equity markets.
Storm in the teacup: Covid, falling exports continue to hurt industry
Tea production is a high-cost business, with 60-65 per cent of the input costs going into labour wages. The rest goes for coal, gas, fertiliser, and other machinery. The rise in tea costs was led by the pandemic-led disruptions in the plucking activities initially. The leaves mature if they are left on the shrubs for too long, leading to deterioration in the quality of tea.
E-commerce, pharma to revive demand for packaging paper: Crisil
A strong revival in consumer spending amid waning impact of the Covid-19 pandemic will help the paper packaging industry bounce back with a revenue growth of 15 per cent this fiscal, ratings agency Crisil said. The industry had reported a decline of 8 per cent in the previous fiscal.
Auto industry expects smooth ride, but Omicron could be a speed breaker
India's automobile industry expects continuation of healthy demand along with easing of semiconductor supply issues during the upcoming year. However, speed breakers such as third Covid wave triggered via spread of Omicron variant in India as well as rising commodity prices might deccelerate the industry's recovery.
Resurgent Covid, macro-data to drive equities
Besides, flow direction of foreign funds along with crude oil prices will also influence investors' sentiments. "On daily charts, Nifty has formed a 'Bearish' engulfing pattern. A move below Friday's low, i.e., 16,909 could result in faster fall in the coming week which also may see low volumes as most institutional players are on year end leave," said Deepak Jasani, Head of Retail Research, HDFC Securities.
Fresh IPO inflows, low oil prices to strengthen rupee
However, concerns over Covid-19 variant -- Omicron -- will keep the Indian rupee's strength in check. "Last week of December is strong for rupee and Indian equities on a last 10-year track record," said Sajal Gupta, Head, Forex and Rates at Edelweiss Securities.
Venezuela surpasses 1million barrels of crude produced per day
This figure was reached despite the dozens of sanctions the US government has imposed on the South American country, El Aissami said in a Christmas message on Saturday.
"Despite the threats of the criminal blockade of the US, here is a people standing with dignity and in the vanguard: the oil working class," Xinhua news agency quoted the Minister as saying.
Bhilwara Spinners, Nitin Spinners, Nahar Spinning stocks turn multibagger in 2021
All three companies deal in textiles. The shares of Bhilwara Spinners, Nitin Spinners and Nahar Spinning Mills companies rose 219 per cent to Rs 47; 231 per cent to Rs 239; and 524 per cent to Rs 488, respectively, during the year-to-date period of 2021, exchange data showed.
IL&FS completes sale, transfer of Moradabad Bareilly Expressway to its InvIT
This is the first of the many road assets proposed to be acquired by the InvIT in different phases, the company said in a statement. The final consideration for sale of shares was Rs 576.77 crore and the adjusted final consideration for assignment of receivables was Rs 14.26 crore, the company said.
Aditya Birla Capital, GAIL among top 10 stocks to 'buy' in 2022: HDFC Securities
Aditya Birla Capital is the holding company of all the financial services businesses of the Aditya Birla group. "It continues its credible makeover journey to drive consolidated return ratios closer to franchise potential over the next three years," the brokerage said. However, stiff competition from peers and new entrants and worsening of asset quality in the lending book due to the potential third wave of the Covid pandemic.
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