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<ul><li><keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword>’s <keyword id="6406769" type="ORGANIZATION" weightage="20" keywordseo="aditya-puri">Aditya Puri</keyword> and Amitabh Chaudhry of Axis Bank are one of the highest paid Indian CEOs in the banking and finance industry. </li><li>HDFC is one of the only two banks ranking in the list of the most valued Indian brands at $4.8 billion, according to Forbes Magazine. </li><li>Following them are Uday Kotak of Kotak Mahindra Bank and ICICI Bank’s former MD and CEO among the top paid employees in the private sector banks.</li></ul>HDFC Bank’s Aditya Puri and Amitabh Chaudhry of Axis Bank are one of the highest paid Indian CEOs in the banking and finance industry. Following them are Uday Kotak of Kotak Mahindra Bank and ICICI Bank’s former MD and CEO among the top paid employees in the private sector banks. The rankings are based on the monthly remuneration of the employees, as per the company’s annual report released this year. <div type="Slideshow" msid="70657329" hostid="261" title="India' highest paid bank chiefs -- HDFC Bank's Aditya Puri tops the list" firstImageMsid="70657331" slideCount="7"></div>

India's highest paid bank chiefs -- HDFC Bank's Aditya Puri tops the list

<ul><li>Indian benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="Sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="Nifty50" source="Orion">Nifty50</keyword> opened flat on Wednesday ahead of the <keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword> monetary policy outcome. </li><li>Economic jitters impacted crude oil prices, too – the Brent crude oil fell below the $80 per barrel level for the second time in 2022. </li><li>Sensex opened 11 points lower at 62,616 while the 50-stock index Nifty50 opened 4 points down at 18,639. </li><li>Vedanta, HDFC AMC, <keyword id="1953208" type="General" weightage="80" keywordseo="bikaji-foods" source="Orion">Bikaji Foods</keyword> are amongst the stocks to watch out for on Wednesday. </li></ul>Indian benchmark indices Sensex and Nifty50 opened flat on Wednesday ahead of the RBI monetary policy outcome and weak cues from global markets. <keyword id="90570" type="General" weightage="20" keywordseo="SGX-Nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the Indian markets may perform, was down 26.5 points, or 0.14% early morning today. <a href="https://www.businessinsider.in/stock-market/news/india-vix-cools-down-to-pre-covid-levels-heres-why-and-where-it-is-headed/articleshow/95743166.cms">India VIX</a>, the volatility index, was up 2.3% today at 14.04. Sensex opened 11 points lower at 62,616 while the 50-stock index Nifty50 opened 4 points down at 18,639. On Tuesday, indices <a href="https://www.businessinsider.in/stock-market/news/sensex-nifty50-end-lower-as-it-pharma-and-metal-stocks-decline/articleshow/96031407.cms">closed lower</a> as caution loomed ahead of the crucial Reserve Bank of India decision on interest rate hikes due today, December 7. Rupee plunged 82 paise to close at 82.62 against the US dollar on Tuesday, marking a month’s low. “Indian markets are likely to open on a flat to negative note on the back of weak global cues. Investors will keenly await the RBI’s bi-monthly policy outcome wherein it expects RBI to raise repo rates by ~35 basis points to 6.25%,” said ICICI Direct. <cmsannotation type="cmsannotation" annotationid="RBI could announce a 35 basis points rate hike" comment="subhead" text="RBI could announce a 35 basis points rate hike">RBI could announce a 35 basis points rate hike</cmsannotation> The Reserve Bank of India is <a href="https://www.businessinsider.in/finance/news/slower-rate-hikes-on-the-cards-say-analysts-ahead-of-rbis-december-monetary-policy-meet/articleshow/95881537.cms">expected to announce</a> a 35 basis points rate hike on Wednesday. The expectations of RBI moderating the pace of rate hikes come at a time when there are talks of the US Fed also slowing down and reflecting on the impact of the hikes so far. India Inc., too, has sought a slowdown in rate hikes after <a href="https://www.businessinsider.in/business/corporates/news/india-inc-q2-fy23-revenue-rises-to-25-6-lakh-crore-here-are-the-winners-and-losers/slidelist/95577982.cms">reporting</a> a decline in net profit growth for the <a href="https://www.businessinsider.in/business/corporates/news/india-inc-s-rockstars-of-q2-and-things-that-investors-should-look-out-for-according-to-analysts/articleshow/95859858.cms">September quarter</a> – net profit of 1,917 Indian companies declined 5.4% to ₹2.18 lakh crore, while revenue grew 24% year-on-year to ₹25.6 lakh crore. <cmsannotation type="cmsannotation" annotationid="Crude oil price below $80" comment="subhead" text="Crude oil price below $80">Crude oil price below $80</cmsannotation> Crude oil price fell below the $80 per barrel level for the second time in 2022 amid concerns of economic slowdown. “Crude will take cues from China’s Covid situation that has been haunting oil markets as well as the Russian oil cap that kicked off on Monday. With the EU embargo and the price cap on Russian oil, along with China’s Covid situation, the price might witness wild moves from one direction to another,” said Ravindra Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities. <cmsannotation type="cmsannotation" annotationid="US and Asian markets in red" comment="subhead" text="US and Asian markets in red">US and Asian markets in red</cmsannotation> Benchmark US indices closed in the red on Tuesday fearing recession while expecting the US Fed to slow its pace of interest rate hike when it meets next week. The benchmark S&amp;P 500 shed 1.44% on Tuesday and closed at 3,941 while Nasdaq Composite dipped 2% to 11,014, Dow Jones Industrial Average dropped 1% to close at 33,596. Following this, Asian markets also trended lower today with the Taiwan TSEC 50 Index falling 0.59%, China’s Shanghai SE Composite declining 0.48% and Nikkei 225 falling 0.46%. Meanwhile, Hong Kong’s Hang Seng was flat with a marginal decline of 0.01%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch out for on Wednesday" comment="subhead" text="Stocks to watch out for on Wednesday">Stocks to watch out for on Wednesday</cmsannotation> HDFC Asset Management Company: The company’s promoter abrdn Investment Management will sell its entire 10.2% stake in the company and cease to be a co-sponsor of HDFC Mutual Fund. Vedanta: The Anil Agarwal led company will consider raising ₹500 crore via non-convertible debentures (NCDs) on December 9 in one or more tranches. Bikaji Foods International: The snacks company has reported 43% on year growth in consolidated net profit at ₹40.92 crore while revenue grew by 32% on year to ₹577 crore. Maruti Suzuki: India’s largest carmaker has recalled 9,125 units of Ciaz, Brezza, Grand Vitara, XL6 and Ertiga manufactured between November 2-28, 2022, to fix a fault with the seat belt assembly. <cmsannotation type="cmsannotation" annotationid="Stocks under F&amp;O ban on NSE" comment="subhead" text="Stocks under F&amp;O ban on NSE">Stocks under F&amp;O ban on NSE</cmsannotation> Punjab National Bank, Indiabulls Housing Finance and Gujarat Narmada Valley Fertilizers are in the F&amp;O ban list on NSE on Wednesday. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/slower-rate-hikes-on-the-cards-say-analysts-ahead-of-rbis-december-monetary-policy-meet/articleshow/95881537.cms">Slower rate hikes on the cards, say analysts ahead of RBI’s December monetary policy meet</a> <a href="https://www.businessinsider.in/stock-market/news/us-india-and-china-markets-are-rallying-on-single-narratives-investors-need-to-be-cautious-say-experts/articleshow/96024939.cms">'One-trick' ponies – US, India and China markets are rallying on single narratives, investors need to be cautious, say experts</a> <a href="https://www.businessinsider.in/stock-market/news/uniparts-india-ipo-here-is-how-you-can-check-the-allotment-status/articleshow/96043984.cms">Uniparts India IPO: Here’s how you can check the allotment status</a>

Indian markets open flat ahead of RBI policy outcome – Vedanta, HDFC AMC, Bikaji Foods among stocks to watch out for

<ul><li><keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword>’s share price dipped by nearly 1% within hours of it making a new record for itself and crossing ₹8 lakh crore in valuation on November 25.</li><li>This makes India’s largest private sector lender bigger than the likes of <keyword id="158169" type="CITY" weightage="20" keywordseo="BlackRock">BlackRock</keyword> <keyword id="112859" type="CITY" weightage="20" keywordseo="Lockheed-Martin">Lockheed Martin</keyword> and <keyword id="6358584" type="UNKNOWN" weightage="20" keywordseo="HSBC">HSBC</keyword> on the US stock market.</li><li>HDFC Bank’s stock had already hit a fresh 52-week high on November 24, when the CLSA raised its target price. </li></ul>HDFC Bank crossed a new milestone as its market capitalisation hit ₹8 lakh crore ($108 billion) when the Indian exchanges opened on November 25, strengthening in place as India’s third most valuable company. Globally, this makes India’s largest private sector bank bigger than US behemoths like Lockheed Martin, HSBC and BlackRock. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Company </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;">Market valuation </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;">HDFC Bank </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;">$108 billion </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;">BlackRock </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;">$106.65 billion </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;">Lockheed Martin </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;">$105.89 billion </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;">HSBC </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;">$104.46 </td></tr></tbody></table>Source: BSE, NYSE as per today’s USD/INR conversion rate However, the euphoria was short-lived. By afternoon trade, the stock dipped by over 1% to ₹1424.75. This has brought its valuation back down to just under the ₹8 trillion mark at ₹7.92 trillion. Nonetheless, HDFC Bank is the first lender and the third Indian company — aside from Tata Consultancy Services (TCS) and Reliance Industries — to have hit this mark. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td colspan="2" 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;">Top companies by market capitalisation: </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;">Company </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;">Market cap </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;">Reliance Industries </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;">₹13.29 lakh crore </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;">Tata Consultancy Services (TCS) </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;">₹10.21 lakh crore </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;">HDFC Bank </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;">₹7.9 lakh crore </td></tr></tbody></table>Source: BSE Today’s surge comes after India’s latest private sector lender had already hit a fresh 52-week high yesterday. This after brokerage CLSA raised the target price of the lender to ₹1,700 this week. In addition, there was already an air of optimism around private sector banking stocks as the Reserve Bank of India (RBI) proposed new guidelines for ownership, including the possibility of increasing promoters’ stake from the current 15% to 26%. HDFC Bank has been one of the best performers over the last three months So far this year the stock has surged by nearly 14% despite the impact of the COVID-19 pandemic. The last three months, in particular, have been one of the best performing for the bank. HDFC Bank is among the seven financial companies <a href="https://www.businessinsider.in/stock-market/news/checkout-top-10-gainers-on-the-nifty-50-in-the-last-three-months/articleshow/79386155.cms">among the top 10 gainers on the NIFTY50 since September.</a> During the second quarter, the bank’s revenues were up by 15% as compared to last year at ₹21,868.8 crore. Its profits also increased by 18.4% year-on-year (YoY) to ₹7,513.1 crore. HDFC Bank has also been <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-increases-provisions-for-bad-loans-as-impact-of-covid-19-continued-to-bear-down-in-second-quarter/articleshow/78719656.cms">cautious in its commentary</a> with the Supreme Court’s stay on declaring accounts as bad loans until the hearing on the RBI’s moratorium is complete. The bank’s management has said that there haven’t been any requests for restructuring granted as of October. However, they also highlighted that borrowers have until December to file their applications leaving room for the situation to change if warranted. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/bank-employees-to-go-on-a-nationwide-strike-tomorrow-in-solidarity-with-farmers-protests/articleshow/79402946.cms">Bank employees to go on a nationwide strike on November 26 in solidarity with farmers’ protests</a> <a href="https://www.businessinsider.in/tech/apps/news/twitters-verification-badges-are-set-to-make-a-return-here-all-the-terms-and-conditions-of-how-to-apply/articleshow/79402586.cms">Twitter's coveted blue ticks are making a comeback next year along with new account types and labels</a> <a href="https://www.businessinsider.in/science/space/news/elon-musk-led-space-x-is-ready-to-conduct-the-first-major-test-of-its-starship-rocket-next-week-and-set-a-new-record/articleshow/79401235.cms">Elon Musk-led Space X is ready to conduct the first major test of its Starship rocket next week and set a new record</a> <a href="https://www.businessinsider.in/tech/apps/news/15-of-the-43-apps-india-banned-today-are-dating-apps/articleshow/79389714.cms">One-third of the latest Chinese mobile apps banned by India are dating services</a>

India's largest private sector bank is now bigger than the likes of Lockheed Martin, HSBC or BlackRock

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="80" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> rose after the 25 basis point rate hike announced by the Reserve Bank of India on Wednesday.</li><li>Amongst sectoral indices, metal and IT led the gains, while auto and realty stocks declined.</li><li>The 30-stock Sensex gained 0.6% or 358 points to 60,643, while the 50-stock Nifty50 rose 0.7% or 124 points to 17,845 as of 12:15 p.m.</li></ul>India’s benchmark indices Sensex and Nifty50 rose after the 25 basis point rate hike announced by the Reserve Bank of India on Wednesday. Amongst sectoral indices, metal and IT led the gains, while auto and realty stocks declined. The 30-stock Sensex gained 0.6% or 358 points to 60,643, while the 50-stock Nifty50 rose 0.7% or 124 points to 17,845 as of 12:15 p.m. Earlier on Tuesday, both Sensex and Nifty50 capped off a volatile trading session and closed in the red after a selloff in FMCG and steel stocks. While the 30-stock Sensex declined 0.37% or 221 points at 60,286, the 50-stock Nifty50 ended 0.24% or 43 points lower at 17,722. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.93% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid Corp. </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.21% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.01% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.99% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.55% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.96% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life Insurance </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.89% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.85% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.39% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.99% </td></tr></tbody><tbody></tbody></table> Source: NSE, as of 12:15 p.m., February 8, 2023 “The rate hike was in line with expectations. However markets were expecting an explicit statement suggesting a pause which has not happened. This suggests the tug of war between growth and inflation continues. While chances of pause still remain, the uncertainty may persist,” said Lakshmi Iyer, CEO-Investment Advisory, Kotak Investment Advisors. <cmsannotation type="cmsannotation" annotationid="Investors turn their focus on RBI MPC outcome" comment="subhead" text="Investors turn their focus on RBI MPC outcome">Investors turn their focus on <keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword> MPC outcome</cmsannotation> Investors await the outcome from RBI’s monetary policy meeting today that will provide direction to the market. Markets expect a 25 basis points hike in repo rate to 6.5%. The last time <a href="https://www.businessinsider.in/finance/news/rbi-hikes-repo-rate-by-35-bps-taking-rates-to-a-high-of-6-25/articleshow/96045841.cms">RBI hiked repo rates was in December</a>, with the hike standing at 35 basis points. “RBI’s policy announcement on Wednesday will provide more colour on its future rate actions, which is expected to hike rate by 25bps,” said Vinod Nair, head of research at Geojit Financial Services. <cmsannotation type="cmsannotation" annotationid="US markets rebound on Powell commentary" comment="subhead" text="US markets rebound on Powell commentary">US markets rebound on Powell commentary</cmsannotation> Markets in the US rebounded on Tuesday as investors rejoiced on US Fed chair Jerome Powell’s comments that “disinflation is underway”. The benchmark S&amp;P 500 closed 1.29% higher, while the Dow Jones Industrial Average gained 0.78%. The tech-heavy Nasdaq, on the other hand, gained 1.9%. Asian markets were mixed on Wednesday, with Taiwan Weighted being flat in the morning, while the Hang Seng index was marginally down. KOSPI gained 1.37%, while Nikkei 225 was down 0.52%. Shanghai Composite declined 0.09%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="6354287" type="General" weightage="80" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword>: India’s second largest telco missed analyst estimates and r<a href="https://www.businessinsider.in/business/telecom/news/bharti-airtel-q3-net-profit-jumps-91-to-1588-crore-misses-estimates/articleshow/97698481.cms">eported a below-expected</a> net profit in Q3 at ₹1,588 crore. Revenue was slightly higher than estimates, at ₹35,299 crore, while average revenue per user edged up to ₹193 in Q3 from ₹190 in Q2. <keyword id="6357252" type="General" weightage="20" keywordseo="hero-motocorp" source="Orion">Hero MotoCorp</keyword>: The two-wheeler maker reported a 4% growth year-on-year to ₹711 crore on muted sales, while revenue edged up just 2% YoY to ₹8,031 crore. Its total sales declined 4% YoY to 12.4 lakh units. <keyword id="1553175" type="General" weightage="80" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword>: It allocated 16.13 crore shares or about 33.44% stake to the government, making it the single largest shareholder. <keyword id="4343578" type="General" weightage="80" keywordseo="adani-green" source="Orion">Adani Green</keyword>: The company reported a 110% YoY increase in net profit to ₹103 crore, while revenue surged 41% to ₹1,973 crore. Earnings today: Adani Power, Adani Wilmar, Shree Cement, Cummins India, Graphite India, Piramal Enterprises, Equitas Small Finance Bank, among others. <cmsannotation type="cmsannotation" annotationid="Stocks in F&amp;O ban" comment="subhead" text="Stocks in F&amp;O ban">Stocks in F&amp;O ban</cmsannotation> Ambuja Cements is under F&amp;O ban today. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/adani-transmission-reports-78-rise-in-q3-net-profit-to-475-crore-on-one-time-income/articleshow/97650165.cms">Adani Transmission reports 78% rise in Q3 net profit to ₹475 crore on one-time income</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-shares-hit-25-upper-circuit-after-govt-agrees-to-convert-16133-cr-dues-into-equity/articleshow/97643006.cms">Vodafone Idea shares hit 25% upper circuit after govt agrees to convert ₹16,133 cr dues into equity</a> <a href="https://www.businessinsider.in/stock-market/news/adani-stocks-59844-crore-market-capitalisation-wiped-out-today-in-morning-trading/articleshow/97638076.cms">Adani group stocks continue to plummet – lose ₹31,534 crore in market capitalisation on Monday</a>

Sensex, Nifty50 surge post RBI rate hike – IT, metal stocks lead gains while auto, realty stocks drag

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> declined in the first half of trading on Wednesday, dragged down by FMCG and pharma stocks. </li><li>While the 30-stock Sensex was down 0.1% of 60 points to 60,974, the 50-stock index Nifty50 was down 0.1% of 17 points to 17,913, as of 12:30 p.m. </li><li><keyword id="6367820" type="General" weightage="20" keywordseo="adani-group" source="Orion">Adani Group</keyword>, <keyword id="1553175" type="General" weightage="20" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword>, <keyword id="6354737" type="General" weightage="20" keywordseo="ongc" source="Orion">ONGC</keyword> are amongst stocks in focus today. </li></ul>India’s benchmark indices Sensex and Nifty50 declined in the first half of trading on Wednesday, dragged down by FMCG and pharma stocks. <keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the markets may perform, was down 0.36% or 65 points early in the morning today. While the 30-stock Sensex was down 0.1% of 60 points to 60,974, the 50-stock index Nifty50 was down 0.1% of 17 points to 17,913, as of 12:30 p.m. Top gainers and losers on Nifty50: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.17% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.80% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospital </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.42% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.52% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.53% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.32% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.21% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.30% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Industries </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.92% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.06% </td></tr></tbody></table> Source: NSE, as at 12:30 p.m., February 15, 2023 Earlier on Tuesday, Sensex closed above the 61,000-level after gains of 0.99%, while Nifty50 closed 0.89% higher at 17,930. Higher than expected inflation in January does not seem to have dissuaded investors. Foreign institutional investors (FII) were net buyers for the third straight session, with purchases of ₹1,305 crore, while domestic institutional investors (DII) bought equities worth ₹205 crore. <cmsannotation type="cmsannotation" annotationid="US and Asian markets tumble on elevated inflation in the US" comment="subhead" text="US and Asian markets tumble on elevated inflation in the US">US and Asian markets tumble on elevated inflation in the US</cmsannotation> Higher than expected inflation in the US led to a decline in markets in the US and Asia – the consumer price index (CPI) rose by 6.4% in January, higher than the expected 6.2%. The Dow Jones Industrial Average fell 0.46%, while S&amp;P 500 declined 0.33%. The tech-heavy Nasdaq, on the other hand, rose 0.57%. Markets in Asia were trading in the red on Wednesday morning, with Taiwan Weighted declining the most at 1.61%, followed by Hang Seng at 1.39%. KOSPI was down 1.19%, while Shanghai Composite was down 0.36%. Nikkei 225 was down 0.4%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> Adani Group: Billionaire Gautam Adani reportedly has a payment obligation worth $2 billion coming up between January and March 2024. In a bid to calm investors post Hindenburg Research crisis, the Group said on Tuesday that its companies face no material refinancing risk or near term liquidity issues. <keyword id="118623" type="General" weightage="20" keywordseo="adani-enterprises" source="Orion">Adani Enterprises</keyword>: The Adani flagship reported a net profit of ₹820 crore in Q3, as against a loss of ₹12 crore a year ago. Its revenue surged 42% year-on-year to ₹26,612 crore, with net margins improving both sequentially and YoY to 3.1% in Q3. Vodafone Idea: The telecom operator reported widening of losses at ₹7,990 crore in December quarter as compared to ₹7,234 last year. However, revenue from operations increased over 9% to ₹10,620 crore from ₹9,717 crore. ONGC: The state owned oil company meets earnings estimates and reported 26% rise in net profit to ₹11,045 crore in Q3 FY23 owing to higher prices of gas under the administered price mechanism (APM). <cmsannotation type="cmsannotation" annotationid="Stocks under F&amp;O ban" comment="subhead" text="Stocks under F&amp;O ban">Stocks under F&amp;O ban</cmsannotation> Ambuja Cement, BHEL, Indiabulls Housing Finance and PNB are stocks under F&amp;O ban list on Wednesday. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/catching-em-early-early-stage-startups-shine-as-their-investor-pool-widens/articleshow/97918089.cms">Catching ‘em early: Early-stage startups shine as their investor pool widens</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-heres-what-the-big-boys-bought-between-october-and-december/articleshow/97912443.cms">Top stocks: Here’s what the Big Boys bought between October and December</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-enterprises-posts-820-crore-net-profit-in-q3-gautam-adani-says-current-market-volatility-temporary/articleshow/97914997.cms">Adani Enterprises posts ₹820 crore net profit in Q3: Gautam Adani says current market volatility temporary</a>

Sensex, Nifty50 edge lower as FMCG, pharma stocks drag

<ul><li>Indian benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> started the week on a mixed note, reflecting the mixed openings in Asian markets.</li><li>Sensex opened 3 points lower at 62,865 while the 50-stock Nifty50 opened 23 points higher at 18,720.</li><li>Both the indices closed the previous week in the green – while Nifty50 gained 0.95%, Sensex gained 0.77%.</li><li>SBI, <keyword id="44883" type="General" weightage="100" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword>, <keyword id="12678323" type="General" weightage="80" keywordseo="inox-green-energy" source="Orion">Inox Green Energy</keyword> and others are amongst the <keyword id="1044313" type="General" weightage="20" keywordseo="stocks-to-watch-out-for" source="Orion">stocks to watch out for</keyword> on Monday.</li></ul>Indian benchmark indices Sensex and Nifty50 started the week on a mixed note, reflecting the mixed openings in Asian markets. <keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of the direction that market may take, rose 0.17% prior to the markets opening. Sensex opened 3 points lower at 62,865 while the 50-stock Nifty50 opened 23 points higher at 18,720. Analysts had expected the markets to open slightly higher. “Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today and despite mostly lower US markets on Friday,” said Deepak Jasani, head of retail research at HDFC Securities. Both the indices closed the previous week in the green – while Nifty50 gained 0.95%, Sensex gained 0.77%. Overall, Nifty50 gained 2.71% in the last one month, whereas Sensex gained 2.75%. Earlier, India reported a rise in its forex reserves for the third consecutive week – the Reserve Bank of India reported $550.14 billion in forex reserves during the week ending November 25, up by $2.89 billion from the previous week. Brent crude oil prices were up 1.16% at $86 per barrel after the OPEC+ decided to stick to its existing policy of reducing oil production by 2 million barrels per day from November until 2023 end. Amongst the key events to watch out for this week will be the Reserve Bank of India’s Monetary Policy Committee’s rate decision on December 7. <cmsannotation type="cmsannotation" annotationid="Asian and US markets post a mixed week" comment="subhead" text="Asian and US markets post a mixed week">Asian and US markets post a mixed week</cmsannotation> Asian and US markets had a mixed week – while the US Fed chair Jerome Powell’s commentary suggested that slower rate hikes are possible, the jobs data could act against those hoping for slower rate hikes. The S&amp;P 500 and Nasdaq Composite indices posted a marginal decline of 0.12% and 0.18% respectively on Friday, while the Dow Jones Industrial Average gained 0.1%. On the other hand, Asian markets experienced slight volatility during the week as tensions escalated in China due to the country’s zero-Covid policy. Some of the key indices have begun the week on a mixed note, with Hang Seng gaining 3.33%, while KOSPI declined 0.41%. Shanghai Composite gained 1.27%, while Nikkei 225 gained 0.11%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch out for on Monday" comment="subhead" text="Stocks to watch out for on Monday"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword> out for on Monday</cmsannotation> SBI: The public sector bank on Friday raised ₹10,000 crore through its maiden infrastructure bond issuance at a coupon rate of 7.51% with a tenor of 10 years. The proceeds will be utilized towards long term resources for funding infrastructure and affordable housing segments. Maruti Suzuki: The largest automaker plans to hike the prices of its models from January 2023 while the increase will vary for different models. This is because it continues to witness cost pressure driven by inflation. Inox Green Energy Services: The recently listed company reported a consolidated net loss of ₹11.87 crore loss for the September quarter while revenue from operations stood at ₹61.9 crore during the period. <cmsannotation type="cmsannotation" annotationid="Stocks in F&amp;O ban on Monday" comment="subhead" text="Stocks in F&amp;O ban on Monday">Stocks in F&amp;O ban on Monday</cmsannotation> Delta Corp, Indiabulls Housing Finance and PNB are stocks in the F&amp;O ban on Monday. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.86% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.29% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.10% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.30% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.35% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.25% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.32% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.09% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.62% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Industries </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.02% </td></tr></tbody></table> Source: NSE, Nifty50, as at 10:50 a.m., December 5, 2022 SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-emerges-as-top-company-in-terms-of-value-revenue-and-profits-in-hurun-2022-list/articleshow/95910143.cms">Adani may be the richest Indian but Ambani’s RIL retains the top spot on Hurun's list of most valuable companies</a> <a href="https://www.businessinsider.in/finance/news/rupee-at-80-against-the-usd-a-possibility-say-analysts-as-us-fed-hints-at-slower-rate-hikes/articleshow/95940818.cms">Rupee may hit 80/$ aided by trifecta of softer rates, cooling crude and stronger macros, say analysts</a> <a href="https://www.businessinsider.in/stock-market/news/key-takeaways-from-paytms-analysts-meeting/articleshow/95940970.cms">Paytm’s optimistic growth projections boost sentiments, shares climb nearly 8%</a>

Indian markets open the week on a mixed note – SBI, Maruti Suzuki, Inox Green Energy among stocks in focus

San Francisco/New Delhi, Taking India's example of banning more than 200 Chinese <keyword id="6354741" type="UNKNOWN" weightage="20" keywordseo="Apps">apps</keyword>, US President <keyword id="6354484" type="PERSON" weightage="20" keywordseo="Donald-Trump">Donald Trump</keyword> has signed a new executive order that blocks transactions with Chinese companies running eight apps, including Jack Ma-owned Ant Group's Alipay, Tencent's QQ and <keyword id="1160904" type="COMPANY" weightage="20" keywordseo="WeChat">WeChat</keyword> Pay <keyword id="6371395" type="UNKNOWN" weightage="20" keywordseo="applications">applications</keyword>. Transactions will be prohibited in 45 days, said the order. Other apps include CamScanner, QQ Wallet, SHAREit, Tencent QQ, VMate, WeChat Pay, and <keyword id="2763436" type="COMPANY" weightage="20" keywordseo="wps-office">WPS Office</keyword> -- which are already banned in India. "The Government of India has banned the use of more than 200 Chinese connected software applications throughout the country; in a statement, India's Ministry of Electronics and Information Technology asserted that the applications were stealing and surreptitiously transmitting users' data in an unauthorised manner to servers which have locations outside India," <keyword id="6354862" type="COMPANY" weightage="20" keywordseo="trump">Trump</keyword> wrote in his new executive order. The new executive order follows two earlier ones from Trump in August last year where he tried to ban transactions with <keyword id="3749909" type="COMPANY" weightage="20" keywordseo="Bytedance">ByteDance</keyword>, TikTok's parent company, and WeChat. However, a judge blocked the WeChat ban in September and in October, a judge granted a preliminary injunction stopping the TikTok ban in December. "The pace and pervasiveness of the spread in the United States of certain connected mobile and desktop applications and other software developed or controlled by persons in the People's Republic of China, to include Hong Kong and Macau (China), continue to threaten the <keyword id="113687" type="ORGANIZATION" weightage="20" keywordseo="national-security">national security</keyword>, foreign policy, and economy of the United States," the executive order further read. "The US must take aggressive action against those who develop or control Chinese connected software applications to protect our national security." The Trump order said that "the continuing activity of the PRC and the CCP to steal or otherwise obtain United States persons' data makes clear that there is an intent to use bulk data collection to advance China's economic and national security agenda". On June 29 last year, the government banned 59 Chinese apps in the first lot, including TikTok, WeChat, UC Browser and Xiaomi's Mi Community, over national security concerns amid the border tussle in Eastern Ladakh which led to the death of 20 Indian soldiers in a bloody clash with Chinese PLA troops in the Galwan Valley in June 2020. Other Chinese apps in the banned list were Club Factory, SHAREit, Likee, Mi Video Call (Xiaomi), Weibo, Baidu, BIGO LIVE and more. In July, the government barred 47 Chinese apps from operating in the country, which were largely clones of the 59 apps that were banned in June. The Indian government on September 2 banned 118 apps on national security concerns, including the immensely popular PlayerUnknown's Battlegrounds (PUBG) Mobile, Baidu and couple of virtual private networks that allowed access to TikTok that was banned earlier. Continuing with its ban orders on Chinese apps, the Indian government in November blocked 43 new mobile apps, including shopping website AliExpress owned by e-commerce behemoth Alibaba. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/here-are-the-top-10-virus-and-diseases-that-could-cause-the-next-pandemic-if-they-arent-stopped-in-their-tracks/slidelist/80116787.cms">Diseases deadlier than COVID-19 are already in the making — here are the top ten candidates that could cause the next pandemic</a> <a href="https://www.businessinsider.in/stock-market/news/analysts-explain-why-burger-king-and-mrs-bectors-shares-fell-with-a-thud-and-what-to-do-now/articleshow/80120941.cms">Analysts explain why Burger King and Mrs Bector’s shares fell with a thud — and what to do now</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-bajaj-finance-hdfc-bank-beml-indigo-godrej-consumer-hero-moto-and-others/articleshow/80126217.cms">Top stocks to watch — Bajaj Finance, HDFC Bank, BEML, IndiGo, Godrej Consumer, Hero Moto, and others</a> <a href="https://www.businessinsider.in/business/startups/news/boat-raises-over-100-million-from-warburg-pincus-analysts-expect-the-headphone-brand-to-double-its-revenue-to-10-billion-this-financial-year/articleshow/80126200.cms">boAt raises over $100 million from Warburg Pincus — analysts expect the headphone brand to double its revenue to ₹10 billion this financial year</a>

After India, US President Donald Trump blocks eight Chinese apps including Alipay, WeChat Pay and Tencent's QQ

<ul><li>The 30-share BSE index Sensex was up 341 points, and the NSE Nifty was trading 0.74% higher at 9:50 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing 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 Sensex rebounded in opening trade on Friday, led by intense buying in banking and IT stocks. The 30-share BSE index Sensex was up 341 points, and the NSE Nifty was trading 0.74% higher at 9:50 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td></tr></tbody></table>*as of October 16, 10:00 am These are the top stocks in news today. IDBI Bank shares gain 10% The shares of IDBI Bank were up 10% after<a href="https://economictimes.indiatimes.com/markets/stocks/news/lic-keen-to-divest-its-stake-in-idbi-bank-report/articleshow/78683359.cms?from=mdr"> news reports </a>surfaced that the Life Insurance Corporation of India (LIC) which holds 51% stake in IDBI is keen to divest its stake. HCL Tech cracks 5% The shares of IT giant HCL cracked 5% during the early trading hours after its consolidated sales stood at ₹17842 crore down 4% from the previous quarter and down 8.61% from the year-ago quarter. United Phosphorus down 6% The shares of United Phosphorus cracked 6% after KPMG, Mauritius resigned as the auditor of UPL Corporation, effective October 8. However, UPL clarified that “the auditors viz. KPMG, Mauritius had in their letter to UPL Corporation Limited noted that there are no circumstances connected with its resignation which it considered should be brought to the notice of the members.” Voltas, Symphony, Amber Enterprises and Blue Star trade in green The shares of Voltas, Symphony, Amber Enterprises and Bluestar were trading in the green after the Indian government banned the import of air conditioners with refrigerants. This move aims to push domestic manufacturing of such goods under a self-reliant India programme. Voltas and Blue Star shares were up 4%, Symphony was up over 1%, and Amber Enterprises gained over 8%. Mindtree cracks 8% post-second-quarter results The shares of Mindtree cracked 8% after opening in green as the second quarter revenue remained flat at ₹1,926 crore compared to the same period last year. However, there was 88% jump in its net profit to ₹253.7 crore AstraZeneca Pharma India up 1% The shares of AstraZeneca Pharma India gained over a percent after the drug major said it would launch its Acalabrutinib 100 mg capsules under the brand name ‘Calquence’ on October 21 — the drug is used for the treatment of various types of blood cancers. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/dow-jones-ends-lower-for-third-day-as-weak-jobless-claims-stimulus-impasse-weigh-on-sentiment/articleshow/78692395.cms" data-type="tilCustomLink"> Dow Jones ends lower for third day as weak jobless claims, stimulus impasse weigh on sentiment</a> <a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-second-quarter-to-see-a-boost-from-cloud-adoption-analysts-expect-it-to-breach-3-5-revenue-growth-guidance/articleshow/78685100.cms" data-type="tilCustomLink">HCL Tech's second quarter to see a boost from cloud adoption — analysts expect it to breach 3.5% revenue growth guidance</a> <a href="https://www.businessinsider.in/defense/news/border-infrastructure-is-not-the-cause-of-friction-between-india-and-china-says-mea-spokesperson/articleshow/78681546.cms" data-type="tilCustomLink">Border infrastructure is not the cause of friction between India and China, says MEA spokesperson</a>

Top stock movers — IDBI Bank, HCL Tech, Voltas, Amber Enterprises, Blue Star, Hero MotoCorp and others

<ul><li>The US banking behemoth <keyword id="63460" type="CITY" weightage="20" keywordseo="JP-Morgan">JP Morgan</keyword> is footing the bill to set up the <keyword id="381358" type="SPORT" weightage="20" keywordseo="European-super-league">European Super League</keyword>.</li><li>Pundits and fans across Europe aren’t happy about the new move, and neither is the Union of European Football Associations (<keyword id="6373925" type="COMPANY" weightage="20" keywordseo="uefa">UEFA</keyword>).</li><li>The new league will be in direct competition of the <keyword id="133416" type="COMPANY" weightage="20" keywordseo="UEFA-Champions-League">UEFA Champions League</keyword> — a move that is unprecedented in club football history.</li></ul>US-based financial services firm JP Morgan is the treasure chest behind one of the biggest disruptions in history of football — the Super League. It will be doling out billions to some of the richest football clubs in Europe to break away from the UEFA competitions, like the <keyword id="6360761" type="COMPANY" weightage="20" keywordseo="champions-league">Champions League</keyword>. “I can confirm that we are financing the deal, but have no further comment at the moment,” a spokesperson of the American investment bank told news agency AFP. You can call it a ‘<a href="https://twitter.com/hendopolis/status/1383892595261071371">civil war</a>’ or a ‘<a href="https://twitter.com/hendopolis/status/1383900788846596098">criminal act against fans</a>’ but reality is that football clubs have been hit hard by the pandemic. Most of the clubs are saddled with debt, large wage bills, and the second wave of COVID refuses to let up. The pandemic has cost European football an estimated €2 billion (₹20,750 crore) to date, according to <a href="https://sports.ndtv.com/football/europes-top-football-clubs-face-two-billion-euros-revenue-hit-due-to-coronavirus-report-2358329">Deloitte</a>. The want for a quick financial fix is a clear one, even for the continent’s biggest clubs. And, the Super League is offering big bucks. In signing up for the new competition, the clubs would share a fund of €3.5 billion (₹31,371 crore) to spend on infrastructure projects and to deal with the impact of the coronavirus pandemic. The Super League is also offering ‘uncapped solidarity payments’ to the tune of €10 billion (₹89,633 crore), which will grow as the league revenues grow over the 23-year term of the contract. According to the press release, the payments will be substantially higher than those generated by the current European competitors. <cmsannotation type="cmsannotation" annotationid="European football’s civil war led by the ‘Dirty Dozen’" comment="subhead" text="European football’s civil war led by the ‘Dirty Dozen’">European football’s civil war led by the ‘Dirty Dozen’</cmsannotation> The twelve founding members of Super League so far include the <keyword id="52458" type="COMPANY" weightage="20" keywordseo="Premier-League">Premier League</keyword>’s ‘big six’ as well as the top clubs from Italy and Spain. They’re being pegged as the ‘Dirty Dozen’, ‘Shameless Six’, ‘The Imposters’ and ‘The Rebels’ in newspapers across Europe. Full list of European football clubs who have agreed to join the Super League: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup></colgroup></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;">Clubs participating in Super League </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;">Country </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;">Liverpool </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;">England </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;">Manchester City </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;">England </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;">Manchester United </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;">England </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;">Chelsea </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;">England </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;">Arsenal </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;">England </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;">Tottenham Hotspur </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;">England </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;">AC Milan </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;">Italy </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;">Juventus </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;">Italy </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;">Inter Milan </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;">Italy </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;">Real Madrid </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;">Spain </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;">Barcelona </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;">Spain </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;">Atletico Madrid </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;">Spain </td></tr></tbody></table> But not everyone is happy about this new move. Not the fans and definitely not the Union of European Football Associations (UEFA). <div type="ExtQuote" text="“The only ones who stand to gain are hedge funds, oligarchs and a handful of already wealthy clubs, many of which perform poorly in their own domestic league despite their inbuilt advantage.”" auname="Grass-roots network of football fans, FSE, said in a statement."></div> The main argument seems to be that there is already a platform that allows clubs from different countries and leagues to compete with each other — the UEFA Champions League. Fans have pointed out that four of the 12 founding members — Arsenal, Manchester City, Tottenham, and Atletico Madrid — have never won the Champions League. Instead of being hailed as something that will improve football, as the founding members claim, fans and pundits are seeing this as a grab for power and money. Leagues like England's Premier League and Italy’s <keyword id="81077" type="COMPANY" weightage="20" keywordseo="Serie-A">Serie A</keyword>, which have huge TV audiences across the globe, may bear the brunt. The Union of European Football Associations (UEFA), backed by the Spanish, English and Italian football leagues, has threatened these clubs and their players with bans and legal action. <div type="ExtQuote" text="“If this were to happen, we wish to reiterate that we… will remain united in our efforts to stop this cynical project — a project that is founded on the self interest of a few clubs at a time when society needs solidarity more than ever.”" auname="Joint statement by UEFA and other football leagues."></div> By establishing a largely closed competition, the biggest clubs envision the future of football to be a year long reality television show whose sole purpose is to generate a ceaseless stream of content and talking points. And, to be fair, in the age of 24-hour news cycles, this is something that may appeal to many people. The deal is yet to be final. The Super League still needs three more clubs to sign up to make the grand total 15 before it can officially be in business. Regardless, it has plans to kick off ‘as soon as practicable’. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/macrotech-developers-lists-at-10-discount-analysts-recommend-that-shareholders-should-wait-it-out/articleshow/82138450.cms">Macrotech Developers IPO lists at 10% discount — analysts recommend that shareholders should wait it out</a> <a href="https://www.businessinsider.in/business/startups/news/razorpay-raises-160-million-at-3-billion-valuation-plans-for-more-acquisitions/articleshow/82137901.cms">Razorpay raises $160 million at $3 billion valuation, plans for more acquisitions</a> <a href="https://www.businessinsider.in/stock-market/news/hdfc-bank-macrotech-developers-adani-ports-and-other-stocks-to-watch-out-for-on-april-19/slidelist/82137367.cms">HDFC Bank, Macrotech Developers, Adani Ports and other stocks to watch out for on April 19</a>

JP Morgan is doling out billions to fund the ‘Dirty Dozen’ Super League — the biggest disruption in the history of club football

New Delhi, Jan 9 () Following are the top business stories at 1820 hours:
 
DEL87 BIZ-PM-LDALL NITI 
PM Modi says fundamentals of Indian economy strong, has capacity to bounce back
New Delhi: Unfazed by projections of GDP growth slowing to an 11-year low in the current fiscal, Prime Minister Narendra Modi on Thursday said fundamentals of the Indian economy are strong and it has the capacity to bounce back.

DEL77 BIZ-RUPEE-CLOSE
Rupee surges 48 paise against US dollar
Mumbai: The Indian rupee on Thursday appreciated by 48 paise to close at 71.21 against the US dollar as investors cheered easing tensions between the US and Iran.
 
DEL70 BIZ-LD STOCKS
Sensex leaps 635 pts in relief rally as Mideast tensions ebb
Mumbai: The Sensex vaulted 635 points while the Nifty reclaimed the 12,000-mark on Thursday as global investors heaved a sigh of relief after the US and Iran appeared to be backing off from a wider military conflict.
 
DEL62 BIZ-GOLD-PRICE
Gold prices plummet Rs 766, silver also tumbles Rs 1,148
New Delhi: Gold prices plummeted by Rs 766 to Rs 40,634 per 10 gram in the national capital on Thursday amid a stronger rupee and weak global trends, according to HDFC Securities.
 
DCM21 BIZ-STOCKS-WEALTH
Investors' wealth rises by Rs 2.25 lakh cr in market rally
New Delhi: Investors' wealth rose by Rs 2.25 lakh crore on Thursday tracking improved sentiment in the equity market where the Sensex soared nearly 635 points as global investors heaved a sigh of relief after the US-Iran conflict appeared to cool off.
 
DCM17 BIZ-FITCH-AIRTEL
Fitch says removing Bharti Airtel from ratings watch to depend on Supreme Court ruling
New Delhi: Fitch Ratings on Thursday said removing Bharti Airtel Ltd from its Rating Watch Negative (RWN) will depend on the Supreme Court ruling on a review petition filed by telecom companies against being asked to pay backdated statutory dues after considering non-telecom revenues.
 
DCM15 BIZ-GOLDETF
After a gap of 7 years, gold ETFs witness inflows in 2019
New Delhi: Investors infused Rs 16 crore in gold exchange-traded funds (ETFs) in 2019, after pulling out money from safe-haven assets in the last six years, on fears of a slowdown in the global market and volatility in equity and debt markets. 
 
DCM13 BIZ-WEF-FISHING SURVEY
Majority support ban on fishing of endangered species, govt subsidies: Survey
New Delhi/Geneva: A large majority of seafood consumers across the world, including in India, support a ban on fishing of endangered species altogether, while a majority is also in support of banning government subsidies to fisheries contributing to overfishing and illegal fishing, a global survey has found.

DCM25 BIZ-TATA-MOTORS
Tata Motors to commence roll-out of BS-VI compliant products this month
New Delhi: Tata Motors on Thursday said it will start roll-out of over 100 BS-VI compliant models, including passenger vehicles, this month. 
 
 
 

 

 
 
 
 
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