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<ul><li>At 7:40 am, the SGX Nifty was down 0.19%, indicating a subdued start for Nifty50.</li><li>Here's a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open flat on Friday, led by mixed cues from the global peers. At 7:40 am, the SGX Nifty was down 0.19%, indicating a subdued start for Nifty50. However, on Thursday, the US stocks ended in positive territory as fresh stimulus hopes buoyed investor sentiment towards the end of a session. The Dow Jones Industrial Average closed 45 points higher, and the S&amp;P 500 was up 0.39%. These are the stocks to watch out for during the trading session today: Reliance Industries Billionaire Mukesh Ambani's Reliance Industries said it had completed the sale of about 10% stake in its retail unit to a clutch of foreign investors for ₹47,265 crore. Since September 25, the company has sold 10.09% stake in Reliance Retail Ventures (RRVL) to private equity firms Silver Lake Partners, KKR, GIC, TPG and General Atlantic, as well as sovereign wealth funds, Mubadala, ADIA and PIF. The shares of Reliance Industries ended 0.76% lower on Thursday. Vodafone-Idea Post the completion of the much-delayed merger of Bharti Infratel and Indus Towers on Thursday, Vodafone Idea (VIL) received cash consideration of ₹3,760.1 crore for its 11.15% shareholding in Indus. The shares of Vodafone-Idea ended flat on Thursday. Infosys The Infosys subsidiary, Simplus has collaborated with Salesforce for a vaccine management cloud solution. The solution has been built on the Salesforce Platform in support of Salesforce Work.com for Vaccines as the COVID-19 pandemic continues. The shares of Infosys ended 1.22% lower on Thursday. Mphasis IT firm Mphasis subsidiary, Mphasis Consulting, has acquired UK-based Datalytyx for up to £13.3 million (about ₹130.4 crore). The acquisition is expected to provide access to strengthen Mphasis next-generation Data GTM Strategy and provide higher value partnership status with Snowflake and Talend for cloud-based data services, a regulatory filing said. The shares of Mphasis ended 0.50% lower on Thursday. Syngene International Syngene International announced that it had signed an agreement with Deerfield Discovery and Development Corporation (3DC) to collaborate for five years to advance therapeutic discovery projects. The shares of Syngene International ended 0.86% lower on Thursday. Muthoot Finance and Manappuram Finance The Reserve Bank of India (RBI) imposed penalties of ₹10 lakh and ₹5 lakh on Muthoot Finance and Manappuram Finance respectively for norm violations. The central bank has penalised Muthoot Finance for non-compliance with directions issued by RBI on maintenance of loan-to-value ratio in gold loans and on obtaining a copy of PAN card of the borrower while granting gold loans in excess of ₹5 lakh, contravening RBI norms. Manappuram Finance has been fined for non-compliance with directions issued by RBI on verification of ownership of gold jewellery The shares of Muthoot Finance ended 1% lower on Thursday, whereas Manappuram Finance lost nearly 2%. South Indian Bank South Indian Bank announced that the Marginal Cost of Funds Based Lending Rates (MCLR) for multiple tenors had been revised from November 20. One-month MCLR at 7.95% and one-year MCLR at 8.2%. The shares of South Indian Bank ended 4.14% lower on Thursday. Aarti Industries HDFC Mutual Fund reduced its stake in Aarti Industries from 7.08% to 5.08% on November 17. The shares of Aarti Industries ended 0.31% higher on Thursday. Apollo Hospitals Apollo Hospitals and Tata Medical and Diagnostics (TataMD) have collaborated to introduce TataMD CHECK diagnostic test (Feluda) for COVID-19 in India. Apollo Hospitals along with its subsidiary Apollo Diagnostics will offer the Tata MD CHECK testing in the national capital region (NCR) from the first week of December and thereafter it will be rolled out across all major metros in the country. The shares of Apollo Hospitals ended 0.84% higher on Thursday. Emami The Indian FMCG major Emami forayed into the homecare segment with its latest offering - EMASOL - a complete range for home hygiene products. The shares of Emami ended 0.42% lower on Thursday. Route Mobile Route Mobile announced that the chairman and non-executive director of the company, Chandrakant Gupta has resigned from the position of chairmanship of the board. Sandip Kumar Gupta will replace Chandrakant Gupta as the chairman of Route Mobile. The shares of Route Mobile ended 2% higher on Thursday. Zee Learn L&amp;T Infra Finance has increased its stake by 1.26 crore shares via off-market transfer from security trustee &amp; appropriated against outstanding loan amounts on November 18. L&amp;T Finance and L&amp;T Infra Finance now hold nearly 7% stake in the company. The shares of Zee Learn ended 1% lower on Thursday. Gland Pharma Gland Pharma stocks to debut on the bourses today. SEE ALSO: <a href="https://www.businessinsider.in/policy/foreign-policy/news/the-first-meeting-between-india-and-luxembourg-in-20-years-results-in-three-new-bilateral-agreements/articleshow/79305642.cms" data-type="tilCustomLink">The first meeting between India and Luxembourg in 20 years results in three new bilateral agreements</a> <a href="https://www.businessinsider.in/stock-market/news/gland-pharma-shares-demand-is-rising-in-the-grey-market-ahead-of-its-listing-tomorrow/articleshow/79302810.cms" data-type="tilCustomLink">Gland Pharma’s grey market premium rises ahead of listing today</a>

Top stocks to watch — RIL, Infosys, Vodafone-Idea, Apollo Hospitals, Emami, Route Mobile, Syngene, and others

<ul><li>The SGX Nifty was trading 0.81% lower at 7:55 am, indicating a negative start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Even amid positive cues from the global markets, the Indian equities are likely to open in the red on Thursday. The SGX Nifty was trading 0.81% lower at 7:55 am, indicating a negative start for Nifty50. However, the US stock markets also soared on Wednesday, as investors shrug off the undecided election. The Dow Jones Industrial Average closed 368 points higher, and the S&amp;P 500 gained 2.2%. These are the stocks to watch out for during the trading session on November 5: PVR and Inox Leisure PVR and Inox Leisure stocks will be in focus during the trade today after <a href="https://www.businessinsider.in/india/news/maharashtra-government-allows-reopening-of-cinema-halls-with-50-capacity-from-november-5/articleshow/79041693.cms?upcache=2">the Maharashtra Government has now allowed cinema halls</a> to open in areas outside containment zones with 50% of their seating capacity from today. The shares of PVR and Inox Leisure ended 1% and 2% higher on Wednesday, respectively. HPCL The board of the Hindustan Petroleum (HPCL) approved a ₹2,500 crore share buyback plan as the company management feels the share price is lower than the value it deserves. In a stock exchange filing, HPCL said it would buy back up to 10 crore shares for no more than ₹250/share. The net profit of the company also nearly doubled in the second quarter led by a surge in refining margins and inventory gains. The net profit in July-September stood at ₹2,477 crore as compared to ₹1,052 crore in a year-ago period. The shares of HPCL ended 0.83% higher on Wednesday, SBI Cards SBI Cards and Payment Services (SBI Card) has launched credit cards in partnership with the digital payment platform Paytm. Available in two variants, Paytm SBI Card and Paytm SBI Card SELECT, the product has been launched on the Visa platform. The shares of SBI Cards ended 0.53% higher on Wednesday, JK Lakshmi JK Lakshmi Cement reported an 86.90% rise in consolidated net profit to ₹92.93 crore for the second quarter ended September 30, helped by cost reduction. The revenue from operations rose 11.79% to ₹1,131.74 crore during the quarter under review. The shares of JK Lakshmi ended 4% higher on Wednesday, Jubilant Life Sciences The board of Jubilant Life Sciences approved raising up to ₹100 crore via non-convertible debentures (NCD). The shares of Jubilant Life Sciences ended 2% higher on Wednesday, Pidilite Industries Fevicol maker Pidilite Industries reported a 9.66% increase in consolidated net profit to ₹356.44 crore for the quarter ended September 30. The company’s revenue from operations rose 4.08% at ₹1,880.33 crore during the quarter under review. The shares of Pidilite Industries ended 0.36% lower on Wednesday, Aditya Birla Capital, Adani Power, Berger Paints India and Emami Aditya Birla Capital, Adani Power, Berger Paints India and Emami are slated to report their second-quarter earnings today. SEE ALSO:<a href="https://www.businessinsider.in/politics/world/news/here-are-trump-and-bidens-paths-to-victory-based-on-where-the-election-currently-stands/articleshow/79044299.cms" data-type="tilCustomLink"> How Trump and Biden can win based on where the election stands now</a> <a href="https://www.businessinsider.in/business/auto/news/india-may-announce-vehicle-scrappage-policy-soon-and-this-is-what-it-means-for-consumers-and-new-buyers/articleshow/79041346.cms" data-type="tilCustomLink">India is looking to bring in the vehicle scrappage policy soon — here’s what it means for you</a> <a href="https://www.businessinsider.in/finance/banks/news/sbis-profit-jumps-over-50-in-q2-plans-to-outperform-the-industry-in-credit-growth/articleshow/79039165.cms" data-type="tilCustomLink">SBI’s profit jumps over 50% in Q2 — India’s largest bank plans to outperform the industry when it comes to credit growth</a>

Top stocks to watch — PVR, Inox Leisure, SBI Cards, HPCL, Pidilite Industries, Adani Power, Berger Paints, and others

Kolkata, Mar 17 () The size of proposed buyback ofshares by Emami Ltd is likely to be in the range of Rs 900-1,000 crore, sources said on Monday.The promoters currently hold 52.74 per cent stake inthe company and 83 per cent of their holding is pledged.The buyback could raise promoter stake to about 58 percent, sources said.The company's board will meet on March 19 to considerthe buyback and an interim dividend."The company's buyback will be within the window of 10per cent of the reserves as this does not require anyshareholder's nod," sources told .Based on the current level of share price, the size ofthe buyback could be between Rs 900-1000 crore, they said.As on March 2019, Emami had free reserves of over Rs2,000 crore.In February, the promoters had entered into anagreement to sell their cement business to Nirma to pare debtat the promoter level and the sale process is expected to becompleted by June.Meanwhile, an interim dividend will boost retailshareholders' morale amid volatility in the capital marketsfollowing the coronavirus scare, according to analysts.The latest Union budget had proposed that dividenddistribution tax (DDT) will be levied on the recipients, whichis set to adversely impact the high bracket taxpayers. Theeffective DDT rate was 20.56 per cent. BSMBDC BDC

Emami share buyback size likely to be Rs 900-1000cr

<ul><li>The average aggregate demand in China was back to 81% of the pre-pandemic normal as of April 24. </li><li>The demand for consumer staples in China is back to the levels seen before COVID-19 brokeout. </li><li>The relative lag is in consumer discretionary, which, on average, is about 64% of the normal level at the end of April.</li></ul>Global investment bank Goldman Sachs said that most of the reforms announced by the Indian government will have an impact in the medium term while the short term may see a "deeper recession". The country's real GDP growth may fall 5% in the current financial year ending March 2020, the report added. The COVID-19 outbreak happened earlier in China and therefore, it has reduced and the economy is reopening earlier than other parts of the world. Therefore, the recovery trends in China could be a good cue for countries, especially emerging markets like India, to estimate what the post-COVID economic trends might be. China’s equity research team of Goldman Sachs put together a tracker that tracks consumer and industrial demand across China, as the official stats come with a few days lag. The tracker revealed steady growth in China’s economy. “if we really look at the most recently updated, the average aggregate demand, the level average to about 81% as of April 24. So that’s our last, the data points updated and this is a versus the bottom in February, which is only around 50%. Back in January we were at about 90%. So the pace of the recovery was quite rapid from February to March in the first month of activity resumption,” said Trina Chen, Co-head at Goldman Sachs China’s equity research. <div type="Article" hostid="261" msid="75785648" title="Indian firms can now directly list in foreign markets – there are a few more big changes to Companies Act" mstype="2" mssubtype="0"></div> Consumer staples and construction are recovering the fastest. “Consumer staples are food-related demand, essentially demand that has little disruptions and recovered very quickly after the disruption in February in China. Construction was quite depressed back in February, but because of government policy push, so, it’s now back to the pre-virus level, even a little bit higher than the pre-virus level,” Chen said. <div type="Youtube" id="07Hfxy17REU" title="The Daily Check-In: Tracking China’s Economic Recovery" thumbUrl="https://i.ytimg.com/vi/07Hfxy17REU/mqdefault.jpg"></div> This will be good news for the likes of consumer products makers like Hindustan Unilever (HUL) and Marico as well as retailers like D-Mart and Reliance Retail to name a few. For Sanjiv Mehta, CEO of Hindustan Unilever, who had <a href="https://www.businessinsider.in/policy/economy/news/hul-ceo-had-hoped-for-a-v-shaped-economic-recovery-from-covid-19-crisis-but-investors-fear-a-lot-worse/articleshow/75547375.cms" data-type="tilCustomLink" target="_blank">expected a V-shaped recovery in April</a>, this data from Goldman Sachs will be vindication. <table style="width: 156pt;"> </colgroup> <tbody><tr> <td class="xl63" style="height:15.0pt;width:87pt">Stock</td> <td class="xl63" style="border-left-width: initial; border-left-style: none; width: 69pt;">Last 3 months</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Emami</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-30.77%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Godrej Consumer</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-13.19%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Dabur</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-12.29%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">HUL</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-9.89%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Marico</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">4.73%</td> </tr></tbody></table> The relative lag is in consumer discretionary, which, on average, is about 64% of the normal level at the end of April, according to Goldman Sachs. That indicates a relatively slow recovery for car makers like <a href="https://www.businessinsider.in/business/corporates/news/maruti-suzuki-share-price-as-q4-profit-falls-28/articleshow/75715791.cms" data-type="tilCustomLink" target="_blank">Maruti, Tata Motors and M&amp;M</a> who have been struggling with declining sales for over a year now. <table style="width: 138pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:69pt">Stock</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 69pt;">Last 3 months</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tata Motors</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-50.12%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">M&amp;M</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-27.09%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Maruti Suzuki</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-26.23%</td> </tr></tbody></table> However, China hasn’t fully recovered to pre-COVID levels, as some of the businesses aren’t still fully functional like airlines and theatres. Air travel and tourism business continue to remain weak. <div type="Article" hostid="261" msid="75785709" title="India will reduce the number of central government companies⁠— some of them will get bigger and some will be sold to private players" mstype="2" mssubtype="0"></div> Even in India, hospitality majors <a href="https://www.businessinsider.in/business/news/oyo-mahindra-holidays-emirates-and-boeing-agree-people-wont-fly-for-a-while/articleshow/75731204.cms" data-type="tilCustomLink" target="_blank">OYO and Mahindra Holidays have changed their post-COVID strategy</a> on the premise that people are not going to be flying abroad anytime soon. Both companies believe that people will prefer to travel to places that are within driving distances, and not those where they will have to take a flight to, even after the lockdown is lifted. <table style="width: 166pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:97pt">Stock</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 69pt;">Last 3 months</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">SpiceJet</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-48.85%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Interglobe Aviation</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-31.62%</td> </tr></tbody></table> The box office and casino businesses are down due to people avoiding public gatherings. “So these are kind of the differences within the customer discretionary. But, having said that overall we still see a couple of percent improvement, each week sequentially on is probably the most important sector,” said Chen. <table style="width: 154pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:77pt">Stock</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 77pt;">Last 3 months</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Inox</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-59.19%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">PVR</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-58.90%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Delta Corp</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-22.20%</td> </tr></tbody></table> Over the past weeks, India has started to relax the lockdown norms, but epidemiologists and public <a href="https://www.businessinsider.in/india/news/india-will-see-multiple-waves-of-covid-19-infections-every-few-months-but-thats-not-a-reason-to-panic/articleshow/75707889.cms">health experts warn that it could result in another outbreak.</a> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/indigo-spicejet-adani-gmr-gvk-share-price-may-gain-after-civil-aviation-reforms/articleshow/75775888.cms">Indigo and Spicejet get shorter routes, cheaper fuel bills while Adani, GMR, and GVK get more airport projects to bid for</a> <a href="https://www.businessinsider.in/india/news/hindalco-jspl-coal-india-companies-that-will-benefit-from-nirmala-sitharamans-reforms/articleshow/75775443.cms">Hindalco, JSPL, Adani, Coal India, and many more stocks that can benefit from India’s sweeping reforms in coal and mineral sector</a> <a href="https://www.businessinsider.in/science/space/news/lt-and-godrej-join-like-boeing-and-lockheed-martin-ula-after-biggest-space-reform/articleshow/75778037.cms">"Now, L&amp;T and Godrej can join hands like Boeing and Lockheed Martin’s ULA," says Gateway House scholar cheering India’s 'biggest space reform'</a>

Goldman Sachs’s China recovery data can spark hope for HUL and D-Mart, and make Maruti, Tata Motors and IndiGo more anxious

<ul><li>Vodafone-Idea’s shares are up 5% after the company completed its stake sale in Indus Towers for ₹3,760 crore.</li><li>There are also reports that a consortium led by Oaktree Capital has offered around $2 billion of capital to invest in the Vodafone Group’s Indian arm. </li><li>Analysts believe that fresh investments and price hikes to improve average return per users (ARPU) are the only things that can help its survival.</li></ul>Vodafone-Idea has been bleeding subscribers for years and now even its postpaid customers are under threat of being wooed away by <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword>. According to analysts, the only way out for the company is with the fresh infusion of funds — and that’s what the company is doing. Vodafone-Idea shares were up nearly 5% today morning after the telecom player completed the sale of its stake in Indus Towers for ₹3,760.1 crore in cash. There are also <a href="https://www.bloombergquint.com/business/oaktree-varde-said-to-offer-2-billion-funding-to-vodafone-idea">reports</a> that a consortium backed by Oaktree Capital has offered Vodafone’s Indian arm $2 billion — approximately ₹14,800 crore — in funding. <div type="image" title="Copy of sbi share price (1)" msid="79316655" hostid="261" caption="&amp;lt;p&amp;gt;Vodafone-Idea share price since September 7 when it was rebranded as Vi!&amp;lt;/p&amp;gt;"></div> Both of these moves tie in with <keyword id="1553175" type="COMPANY" weightage="20" keywordseo="Vodafone-Idea">Vodafone Idea</keyword>’s announcement in September where it revealed its plans to raise ₹25,000 crore by selling its shares and debt. New funds and price hikes are the only way to save Vodafone-Idea As Vodafone Idea continues to lose subscribers, it's also running out of money. This limits the company’s ability to invest in networks and adds to subscribers’ woes who switch over to other telecom operators. “We believe this spiral can be broken only with significant ARPU increase and fund infusion,” said Edelweiss Research in its report dated October 30. According to Axis Capital, Vodafone Idea’s future depends on it. The new mega tower company In the endeavour to raise new funds, Vodafone Idea has sold off around 11.15% of its holding in Indus Towers to make way for a newly merged mega tower company. The Vodafone Group will still hold around 28.12% in the new firm. Meanwhile, <keyword id="6354287" type="UNKNOWN" weightage="20" keywordseo="bharti-airtel">Bharti Airtel</keyword>’s stake reduces from 53.51% in Bharti Infratel to 36.7% in the combined entity. "Merger of Indus Towers Limited &amp; Bharti Infratel Limited has been completed today. The combined entity, to be renamed as Indus Towers Limited, is listed on the National Stock Exchange of India Limited &amp; BSE Limited," said Bharti Airtel in its filing with the Indian exchanges. Oaktree, Varde Partners and others offer $2 billion in funding The Oaktree-led consortium is formed of many companies, including Varde Partners. Sources told <a href="https://www.bloombergquint.com/business/oaktree-varde-said-to-offer-2-billion-funding-to-vodafone-idea">Bloomberg</a> that they have made an offer to infuse between $2 billion to $2.5 billion of capital into Vodafone Idea. But, this is only one of the many offers that the company is currently considering. Vodafone Idea is in talks with several other investors. The company has been reporting losses for nine consecutive quarters. And, since the merger of 2017, Vodafone Idea is yet to come up green in its annual reports. Vodafone Idea is the weakest of three telecom giants in India, the other two being Bharti Airtel and Reliance Jio. And its survival is the only thing that’s standing in the way of the Indian telecom market turning into a duopoly. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-india-was-supposed-to-launch-today/articleshow/79315462.cms">PUBG Mobile India was rumoured to launch today — but there is no official update from the company</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-infosys-vodafone-idea-apollo-hospitals-emami-route-mobile-syngene-and-others/articleshow/79314343.cms">Top stocks to watch — RIL, Infosys, Vodafone-Idea, Apollo Hospitals, Emami, Route Mobile, Syngene, and others</a> <a href="https://www.businessinsider.in/finance/banks/news/lakshmi-vilas-bank-is-the-fifth-financial-firm-after-ilfs-dhfl-yes-bank-and-pmc-bank-to-collapse-in-india/slidelist/79286096.cms">Lakshmi Vilas Bank is the fifth financial firm to collapse in India within the last 30 months</a>

Vodafone Idea soars nearly 5% on fund infusion from Indus Towers stake sale

<ul><li>After seeing a positive trend in the first few days of the year, the market witnessed a huge sell-off on weak global cues.</li><li>Markets were swayed by the US Federal Reserve Minutes commentary, which indicated interest rate hike will be sooner than expected and the central bank will stop economic stimulus measures.</li><li>Investors shrugged off shares of banks, IT, metals, auto, infrastructure and bought some essential services stocks like pharma.</li></ul><keyword id="46038" type="General" weightage="20" keywordseo="indian-markets" source="Orion">Indian markets</keyword> fell steeply about 900 points on January 6 mirroring losses in other Asian and the US markets after the US Federal Reserve announced that it will stop measures for economic stimulus and increase interest rates sooner than expected. “Participants generally noted that, given their individual outlooks for the economy, the labour market, and inflation, it may become warranted to increase the federal funds rate sooner or at a faster pace than participants had earlier anticipated. Some participants also noted that it could be appropriate to begin to reduce the size of the Federal Reserve's balance sheet relatively soon after beginning to raise the federal funds rate," said the US Fed in the monetary policy minutes. From the US Fed minutes commentary, markets have reportedly anticipated Fed to reduce its holdings of treasury bonds, which pushed the 10-year US Treasury yield to 1.7%. The US Fed commentary to “reduce the size of the Federal Reserve's balance sheet” indicated that it will soon sell some of the bonds held in its account. This triggered the 10-year treasury bond yield, which went up to 1.7% <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global markets </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change as of 10:55 a.m. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ASX All Ordinaries (Australia) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.71% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SE Composite Index (China) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.25% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hang Seng (Hong Kong) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.57% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sensex (India) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.35% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nikkei 225 (Japan) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TSEC 50 Index (Taiwan) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.23% </td></tr></tbody></table>Huge sell-off in the market led to fall in shares of banks, fast moving consumer goods (FMCG), IT and metal companies. As the fear of COVID-19 persists with rising cases and increasing restrictions in many Indian cities, investors bought some selective essential company stocks. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in share price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gland Pharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.47% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Laurus Labs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.71% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lupin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.52% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Abbott India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.67% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Natco Pharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.45% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alkem Laboratories </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Emami </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.21% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Radico Khaitan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.76% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Procter &amp; Gamble Hygiene and Health Care </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.63% </td></tr></tbody></table>Few weeks back, the US Fed said that it will soon end COVID-19 stimulus programmes and raise interest rates three times next year, which <a href="https://www.businessinsider.in/stock-market/news/constant-fii-selling-since-october-bleeds-indian-markets/articleshow/88339477.cms">triggered the stock markets last year.</a> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-slumps-over-450-points-in-early-trade-nifty-slips-below-17800-hdfc-hcl-tech-hdfc-bank-infosys-kotak-bank-tech-mahindra-and-tcs-top-losers/articleshow/88725853.cms">Sensex slumps over 450 points in early trade; Nifty slips below 17,800 — HDFC, HCL Tech, HDFC Bank, Infosys, Kotak Bank, Tech Mahindra and TCS top losers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-clocks-over-90000-fresh-covid-19-cases-and-325-deaths-in-the-last-24-hours/articleshow/88726971.cms">India clocks over 90,000 fresh COVID-19 cases and 325 deaths in the last 24 hours</a>

Indian markets see huge sell-off after US Fed says interest rate hike will be sooner than expected

<ul><li>Volume contraction for the FMCG sector was more pronounced in rural areas, says a <keyword id="87153" type="General" weightage="80" keywordseo="bnp-paribas" source="Orion">BNP Paribas</keyword> report. </li><li>While the research firm expects margin improvement in FY24, its earnings estimates are below consensus on account of INR depreciation, increase in ad spends and selective price cuts. </li><li>We think consensus earnings estimates for FY24/25 are too optimistic, the report says. </li><li>The valuation multiples of Indian FMCG companies have expanded since June 2022, BNP Paribas says. </li></ul>Consumer goods majors have been hit hard by inflation over the last few quarters, with volume growth taking a backseat. Clearly, growth has been driven by multiple price hikes that were taken by the players – and not volume growth. The road ahead looks better as commodity prices are cooling and price cuts could even spur consumption. In spite of the fact that affluent India’s consumption is holding up well, volumes from mass-market and categories that benefitted from Covid like healthcare and hygiene segments <a href="https://www.businessinsider.in/finance/article/inflation-burns-a-hole-in-the-pockets-of-indias-lower-income-households-from-fmcg-goods-flip-flops-to-crackers-consumption-takes-a-backseat/articleshow/95536971.cms">were affected by inflation</a>. “Revenue growth was driven by price hikes, with volumes remaining subdued across categories. The volume contraction was more pronounced in rural areas. Companies expect rural demand to recover in the second half of FY23, on the back of government interventions, a good monsoon and higher crop realisations,” says BNP Paribas. Ad spends and price cuts Going forward, BNP shares the optimism of the companies that the second half of the current financial year will bode well for revenues and margins too as commodity prices are moderating. “While we expect margin improvement in FY24, our earnings estimates are below consensus as we anticipate INR depreciation, an increase in advertisement spends and selective price cuts to drive volumes that are under pressure,” said the research firm. Lower ad spends in addition to a cut in corporate tax rates have been aiding the sector’s earnings growth for the last five fiscal years in spite of muted growth in revenues and gross profits. But now ad spends might resume to bring back consumers who have been downtrading to cheaper unbranded products for the last six months, leaving little scope for a strong margin recovery. Lower estimates, pricier stocks BNP Paribas raised its sales estimates for most companies during the earnings season but lowered the aggregate EBITDA margin for the sector by 30 bps to 20.9-22.1% for FY23 and FY24 – thereby reducing EBITDA as well as earning per share by 1-2% for both the years. “While the outlook for FY24 is positive, driven by moderation in raw material costs and signs of a <keyword id="9592296" type="General" weightage="20" keywordseo="rural-recovery" source="Orion">rural recovery</keyword>, we think consensus earnings estimates for FY24/25 are too optimistic. With no triggers for a sharp multiple de-rating, we believe some stocks can see time correction over the next year. Our preferred sector picks remain ITC, Britannia, Emami and Jubilant Foodworks,” said the report. Most FMCG stocks have been on a bull run in the last five months, and that has made them expensive relative to the tough conditions that await for its volume growth. “Since June 2022, the valuation multiples of Indian FMCG companies have expanded as concerns about unabated inflation eased. This has led to several stocks moving above their five-year mean next twelve months, price to earnings ratio,” the report said. The downside risks that the research firm sees include an increase in competitive intensity, leading to companies cutting prices and sales growing at a lower-than-expected rate; and lower-than-expected margin recovery. Rural recovery to be affected by muted Kharif season Many economists and rating agencies are also questioning the pace of economic growth of the country – marred by <a href="https://www.businessinsider.in/finance/news/no-end-to-downgrades-in-gdp-estimates-as-economists-remain-divided-on-severity-of-slowdown/articleshow/95847763.cms">constant downgrades</a>. Apart from global spillovers, experts believe that a lot is riding on the rural recovery – that will play a big role in the volume and revenue growth of FMCG majors. While there have been green shoots of recovery seen in <a href="https://www.businessinsider.in/business/auto/news/mixed-demand-trends-for-autos-in-november-as-festive-boost-wears-off-but-signs-of-rural-recovery-visible/articleshow/95848505.cms">spurts like auto sales</a>, rural consumption has remained muted even after lockdowns ended. A major driver for rural recovery is a good Kharif crop, which, however, has been affected by erratic monsoons this year. “Untimely heavy rainfall in the states across North-west and Central India between end-September 2022 and mid-October 2022 is likely to have added to the moisture levels of the standing crop, which poses some downside risks to the kharif output relative to the first Advance Estimates,” said an ICRA report. SEE ALSO <a href="https://www.businessinsider.in/business/news/vikram-kirloskar-the-mit-engineer-who-loved-to-build-factories/articleshow/95875911.cms">Vikram Kirloskar: The MIT engineer who loved to build factories</a> <a href="https://www.businessinsider.in/business/corporates/article/tatas-mega-aviation-merger-is-poised-for-flight-but-the-skies-are-not-clear-yet/articleshow/95526116.cms">Tata's mega aviation merger is poised for flight, but the skies are not clear yet</a>

India FMCG sector profits may be weighed by ad spend hikes, price cuts: BNP Paribas

A few days ago, yoga guru <keyword id="6355107" type="PERSON" weightage="100" keywordseo="Baba-Ramdev">Baba Ramdev</keyword> had taken a <a href="http://www.businessinsider.in/Weirdest-comment-of-the-day-Ramdev-Baba-says-Patanjali-will-shut-the-gate-in-Colgate-make-Nestles-bird-disappear/articleshow/52027530.cms">direct dig</a> at the rivals of his FMCG firm <keyword id="6356684" type="UNKNOWN" weightage="100" keywordseo="patanjali">patanjali</keyword>, saying, "Patanjali will shut the 'gate' on <keyword id="73802" type="COMPANY" weightage="100" keywordseo="Colgate">Colgate</keyword>. The birds in Nestle's nest (logo) will also fly away." 
 
His confidence has come because of Patanjali achieving the 5000 crore mark, and successfully <a href="http://www.businessinsider.in/Indias-herbal-market-has-got-a-new-life/articleshow/51104012.cms">bringing Ayurveda back</a> into the daily lives of Indians, just the way he had brought Yoga back to the its country of origin many years ago. 
 
And now, Patanjali is all set to overpower traditional FMCG biggies like <a href="http://www.businessinsider.in/Patanjali-takes-over-the-entire-Ayurveda-industry/articleshow/51453997.cms">Hindustan Unilever, Nestle, Marico and Dabur</a>, and we say this basis data and records. 
 
Patanjali has <a href="http://www.businessinsider.in/Everyone-wants-to-be-a-part-of-Patanjalis-success-as-FMCG-giant-aims-Rs-1000-crore-this-fiscal/articleshow/51682270.cms">put a dent</a> on these companies in the past four months, and investors think that Ramdev's company will further impact their market share and consumer preferences. 
 
This year, so far, the BSE FMCG index, a gauge of the FMCG stocks on BSE, has already slumped 9%, even though the consumption demand has revived, along with the expectation of good monsoon, which would up rural wages and further support demand growth. 
 "I think the market is growing. So there is room for everyone, but there will be some give and take in market shares. Patanjali has this ayurvedic halo around it and Baba Ramdev is a great brand," Pradip P Shah, Chairman, <keyword id="1539139" type="ORGANIZATION" weightage="100" keywordseo="IndAsia-Fund-Advisors">IndAsia Fund Advisors</keyword>, told ET. 
 
"There is a natural feeling that these products are good and the price points are lower compared with the premium products available in the market. There is a great product out there and their distribution and packaging are pretty good," he said. 
 
One might be forced to think that the success of this 10-year old FMCG firm is just because of Baba's charm. Raamdeo Agrawal, Co-Founder &amp; Joint MD of MOFSL, says, "It will definitely <a href="http://www.businessinsider.in/BabaRamdevs-Patanjali-is-already-spelling-doom-for-this-global-brand-in-India/articleshow/51303845.cms">take away market shares</a> in some segments. They have a segment where they will thrive. So it is a marketing challenge for the rest of the pack, be it <keyword id="6365619" type="CITY" weightage="100" keywordseo="Hindustan-UniLever">Hindustan Unilever</keyword> or Colgate or <keyword id="40233" type="COMPANY" weightage="100" keywordseo="emami">Emami</keyword>, whosoever is hurt by Patanjali products." However, he also added that, "Patanjali will have some challenges coming in later on product superiority, because one needs to see whether product superiority or just the blind faith in Baba Ramdev's brand equity is driving them" 
 
Some, however, are of the view that the market is big enough for the competitors to survive. "Clearly, Patanjali is making inroads, but that does not mean the Unilevers of the world will fade away. They are astute. They have excellent marketing. They will come out with different products. They will come out with different prices," Pradip P Shah of IndAsia Fund Advisors told ET. 
 
<a href="http://www.himalayanmail.com/newsadmin/Photo/562011175926119.jpg">Image source</a>

Is Patanjali actually going to displace traditional biggies from the market, or is it just Baba Ramdev’s charm?

<ul><li>Bangladesh’s economy has lured many Indian companies like Adani, Hero and now, <keyword id="115997" type="CITY" weightage="20" keywordseo="Hindustan-Zinc">Hindustan Zinc</keyword> is ready to tap the growth in India’s neighbouring country.</li><li>Bangladesh’s per capita income surpassed India’s last year, and its GDP has been growing steadily.</li><li>Hindustan Zinc is looking to set up a processing unit in India to export products to the South Asian market.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>. </li></ul>India’s largest zinc miner Hindustan Zinc is looking to make a segway into Bangladesh, given the economic boom in the country, which shares nearly two third of its borders with India. In 2020, Bangladesh surpassed its larger neighbour India in <a href="https://www.newindianexpress.com/business/2021/may/20/bangladesh-beats-india-in-per-capita-income-2304942.html">per capita income (PCI)</a>. Hindustan Zinc is also working on setting up a maintenance and processing factory in Gujarat to supply Zinc to other South Asian countries. The Chief Executive Officer (CEO) of Hindustan Zinc, <keyword id="1583550" type="PERSON" weightage="20" keywordseo="Arun-Misra">Arun Misra</keyword>, told Business Insider that 70% of the Gujarat plant’s 0.3 million tonne capacity will go to Bangladesh and other Southeast Asian markets. Currently, miners in Africa, mostly Chinese, sell commodities to South Korea for processing Asian markets and conversion to zinc (by competitors), before hitting the South Asian markets. “We realised that we [Hindustan Zinc] could stop that traffic midway and do it in Gujarat and then convert to metal and then supply to Southeast Asia, which is going very fast and very stable economies as of now,” CEO Misra told Business Insider in an exclusive interview as he completed his first year in the corner office. The company currently has facilities located in five regions of Rajasthan and a zinc-lead processing and refining facilities as well as a silver refinery at Pantnagar in Uttarakhand. Misra also highlighted two points behind their latest interest in the Bangladesh market. First, the country’s economy has been doing well. Second, Bangladesh is a land of rivers, which leads to more corrosion of metal. “We'll have more zinc galvanisation in their country. So, nearby countries have a good future for zinc,” he added. Corrosion is a degradation of a material, especially metal, due to chemical reactions. Most metals are susceptible to corrosion and the most common form of corrosion is rusting. Water can make metal rust faster, which makes it almost a necessity to apply a protective zinc coating (galvanising) to steel or iron. More importantly, Bangladesh is witnessing an economic upswing ⁠— an average growth of<a href="https://data.worldbank.org/indicator/NY.GDP.PCAP.KD.ZG?locations=BD&amp;name_desc=false"> 5.4%</a> in gross domestic product (GDP) in last 5 years ⁠— leading to a massive investments in infrastructure. The government in Dhaka plans to increase its spending on infrastructure as well. According to Bangladesh’s Dhaka Chamber of Commerce and Industry, the country needs to invest approximately <a href="https://www.trade.gov/country-commercial-guides/bangladesh-infrastructure-development-and-engineering-services">$25 billion</a> annually till 2030 to meet its infrastructure needs. It will also help the country maintain as well as further<a href="https://www.adb.org/sites/default/files/project-documents/51311/51311-001-rrp-en.pdf"> accelerate </a>its GDP growth momentum. And, Misra sees opportunities unravelling there. “We have just entered Bangladesh. Looking at it, there's a possibility [of business growing], directly we are entering. So we are not yet a big mover inside Bangladesh, as of now. But we are still in Bangladesh and Southeast Asia, as a big base for growth, Misra told Business Insider. <div type="image" title="EXCLUSIVE: India&amp;#39;s largest zinc miner Hindustan is eyeing a share of the Bangladesh economic boom" msid="84963588" hostid="261"></div> The company is getting environment clearance procedures and other regulatory processes to make this project into a reality. Hindustan Zinc has seen a spectacular year as commodity prices including iron ore, copper and coal, around th e world have seen a spike in the last one year. Misra believes that this uptrend in commodity prices is likely to last for at least another two years. “Quote” However, global financial services firm Macquarie, in its June 2021 report, projected a cooling down in commodity prices particularly in steel, iron ore and zinc over the next 12 months, after a stellar rally that many have called the ‘supercycle’ in commodities. <div type="image" title="EXCLUSIVE: India&amp;#39;s largest zinc miner Hindustan is eyeing a share of the Bangladesh economic boom" msid="84963558" hostid="261"></div> Even other Indian companies have started to take notice of the Bangladesh market. Last year, Adani Group <a href="https://www.thedailystar.net/business/news/adani-group-registers-bangladesh-subsidiary-1873849">registered</a> a wholly owned subsidiary company named Adani Bangladesh Ports Private (ABPPL) in Bangladesh. It will also start a 1,000 acre India Special Economic Zone (ISEZ) to help Indian companies set up shop in the neighbouring country. Other Indian companies have also invested in Bangladesh too. This includes Ashok Leyland, the Hero Group, Emami, Dabur, Asian Paints, Pidilite, Godreh, Tata Motors, Sun Pharma and others. SEE ALSO <a href="https://www.businessinsider.in/india/news/these-seven-indian-states-face-the-highest-risk-of-a-spike-in-covid-19-infections-and-stricter-restrictions/articleshow/84962478.cms">These seven Indian states face the highest risk of a spike in COVID-19 infections and stricter restrictions</a> <a href="https://www.businessinsider.in/tech/news/jack-dorseys-square-agreed-to-buy-afterpay-which-has-a-buy-now-pay-later-service-for-29-billion-in-stock/articleshow/84962218.cms">Jack Dorsey's Square agreed to buy Afterpay, which has a 'buy now, pay later' service, for $29 billion in stock</a> <a href="https://www.businessinsider.in/tech/news/twitter-offers-up-to-3500-to-people-who-can-help-fix-apparent-racial-and-gender-bias-in-its-image-cropping-algorithm/articleshow/84946710.cms">Twitter offers $3,500 reward to people who can help fix apparent racial and gender bias in its image-cropping algorithm</a>

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