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Both the <keyword id="6484188" type="CITY" weightage="80" keywordseo="Sensex">Sensex</keyword> and the <keyword id="6354813" type="COMPANY" weightage="80" keywordseo="nifty">Nifty</keyword> traded flat in the first two hours of trade on Thursday as investors digested the previous day's 1 percent rally and traders remained fence sitters as indices traded in a resistance zone on the daily charts. The market awaits major earnings from Index heavyweights such as Bajaj Auto, GAIL, Lupin and Wipro. Here is a snapshot of how markets are trading around 11:15 pm with a special focus on the futures and options space: 
 
MAJOR INDICES: 
NIFTY fell 1.4 points to 8,632. Cairn, Dr. Reddy's were the top gainers. 
SENSEX added 25 points to quote at 28,529 levels. 
 
SECTORAL INDICES: 
BANK NIFTY fell 51 to 18,946 points. 
CNX FMCG Index down 52 at 20,259 points 
CNX IT Index up 53 at 11,698 points 
CNX Metal Index fell 5 to 2,185 points 
CNX Pharma Index gained 33 at 12,411 points 
 
 
FUTURES AND OPTIONS 
MAJOR GAINERS 
Cairn 
Oracle Finance 
IRB Infra 
 
MAJOR LOSERS 
JSW Energy 
Hindustan Unilever 
CESC 
 
TOP OI GAINERS 
Just Dial 
Apollo Tyres 
Dr Reddy's 
 
TOP TRADED FUTURES 
Reliance Industries 
Tata Motors 
Cairn 
 
52-WEEK HIGHS 
Bajaj Finserv 
Asahi India 
Aditya Birla Nuvo 
 
ADVANCE-DECLINE RATIO 
Nifty: 20/29 
Sensex: 12/18 
Futures: 81/79 
Broader Market: 1,540/800 
 
(Image credit: Indiatimes)

Here's the simplest explanation to what's been happening in Dalal Street so far

India's progress toward a $5 trillion economy will be fuelled by the small and medium businesses – the engines of innovation that lie at the crux of our economy. And to acknowledge these powerhouses, at Business Insider India, we are setting the stage for industry leaders and budding entrepreneurs to interact and share their learnings. Day 2 of the event includes a number of panel discussions, fireside chats, workshops, masterclasses, and keynotes. From two engaging fireside chats to panel discussions on tackling MSMEs challenges on finance and technology – let's quickly get to what to expect from day 2. We shine the spotlight on the Indian economy and how <keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword>s have served as its skeleton. The Federation of India Micro and Small and Medium Enterprises' Secretary-General, Anil Bhardwaj, will deliver the keynote address – emphasising on the need to improve exports and public procurement to assist the MSME industry. There is evidence that over the past several years, India has experienced an increase in the number of SMEs listed. Ajay Thakur, Bombay Stock Exchange's Head of SME and Startup will provide additional light on what needs to be done in order to alter entrepreneurs' perspectives and why it is important to list small businesses to uncover value and scale higher. [Register here: <a href="https://www.businessinsider.in/msme-exchange-2023">https://www.businessinsider.in/msme-exchange-2023</a>] India is known to be the third-largest ecosystem for startups, but access to funds at the appropriate time remains one of the many difficulties the sector has encountered. You don’t want to miss a deep, insightful fireside chat with Rajnish Kumar, if you have the question, "How can small businesses harness the correct financial instruments and make the most of their finances?" As the former chairman of SBI and chairman of BharatPe, he brings with him more than 40 years of expertise and knowledge. We will also get candid with T Koshy, CEO of ONDC, to obtain a better understanding of how ONDC can be the major game-changer for MSMEs. By linking you with more network partners who will complete your e-commerce solution, ONDC gives you the chance to expand your business through online sales. It is hailed as the next big technological revolution that will enable <keyword id="6359222" type="General" weightage="20" keywordseo="small-business" source="Orion">small business</keyword> owners to define their mission statement. Hear from the man leading this revolution on their mission statement. And this is just part of the action, there's more to come! You do not want to miss the fascinating panel discussion that starts at 6:00 p.m. Top industry experts including Kishor Kharat, Former MD &amp; CEO of Indian Bank and IDBI, Vipul Sharma, Founder and CEO, of Chqbook, and Jinand Shah, MD &amp; CEO of Online PSB Loans discuss innovative finance solutions for small businesses. Since we've just talked about money, it's time to discuss technology, another critical need for MSMEs. And the <keyword id="4106334" type="General" weightage="20" keywordseo="msme-exchange" source="Orion">MSME Exchange</keyword> 2023 has you covered there as well. Do you have queries very much like "Can MSMEs transform and expand more? ", or "Is digital transformation the solution to issues encountered by small businesses? Our panellists, Ketan Gaikwad, MD and CEO of RXIL, Sundeep Mohindru, Founder &amp; Director of M1xchange, and Avinash Godkhindi, MD and CEO of Zaggle, will share their knowledge on how technology is empowering MSMEs. The discussion will start at 6:30 p.m. and will be moderated by NASSCOM Vice President and Head of Membership Srikanth Srinivasan. Finance and technology may be the building elements of a firm, but what keeps it operating long-term is a strong foundation built on sustainability. In his final remarks, Sudarshan Chari, Executive Director and Head of Business Banking at DBS Bank India, will discuss how sustainability is a key tenet for startup companies. The big finale will feature a master class on growing your brand in India from micro to small to big from Spring Marketing Capital's founder and creative partner, Arun Iyer! Small businesses must adapt to the changing times and position themselves well for a digital-first era. You will learn about the foundational elements of marketing and how to create memorable client experiences with this masterclass. If you don’t want to miss out on any of this action, register now on this link: <a href="https://www.businessinsider.in/msme-exchange-2023">https://www.businessinsider.in/msme-exchange-2023</a>

MSME Exchange 2023 goes live on Jan 18: Get insights from leading voices that matter

In a bid to trim debt and concentrate on core operations, Anil Ambani-owned <keyword id="46907" type="CITY" weightage="80" keywordseo="Reliance-communications">Reliance Communications</keyword>, pitched as India’s fourth largest telecom carrier, wants to sell 51% stake in its unit <keyword id="44524" type="CITY" weightage="80" keywordseo="Reliance-Infratel">Reliance Infratel</keyword> at a valuation of Rs 20,000-25,000 crore. 
 
Reliance Infratel is India’s No. 3 tower company with around 45,000 towers and over 120,000 km of intro and inter-circle fibre. The first two positions are taken by Indus Towers and Bharti Infratel. 
 
As per insiders familiar with the matter, Ambani has sought bids from bankers including Morgan Stanley, Bank of America, Merrill Lynch and JM Financial to run the process. 
 
"Taking Bharti Infratel's valuation as a benchmark and putting in all performance and other parameters in place, Reliance Infratel's enterprise value would be at least Rs 20,000-25,000 crore, especially given the fact that the company has the largest fibre network in place," one of the people told Economic Times. 
 
As per data provided by India’s market bellweather BSE, Bharti Infratel, the only listed company in the space, has close to 86,000 towers and was valued at about Rs 74,000 crore as of Tuesday. 
 
Reliance Infratel is 96% owned by RCom and the remainder is owned by small and institutional investors like George Soros' Quantum (M), NSR Partners, Galleon, HSBC Daisy Investment ( Mauritius), Drawbridge Towers, Investment Partners B (Mauritius), which have invested $287 million in 2007. 
"The other deleveraging moves such as monetising real estate and sale of Global Cloud Xchange will continue, but given the condition of the market as well as the improved industry climate, the tower asset sale has been fast-tracked," the person told ET. 
 
Meanwhile, Reliance Communications wants to complete the sale process in 2015 itself, the person said, adding that in case if an outright sale happens, RCom would continue as a tenant in the company with new owners. 
Reliance Communications denied to comment. 
 
Another person familiar with the process told ET that RCom wanted to concentrate on its telecom business, launch 4G LTE services and monetise assets to reduce debt. 
 
Selling off of 51% stake would mean reduction of debt by at least Rs 15,000 crore and potentially by about Rs 20,000 crore on exit, said the person. He added that the company's debt, after paying the Rs 1,100-crore upfront fee following the March spectrum auctions, stands at about Rs 37,000 crore. 
 
Reliance Infratel has a debt of about Rs 8,000-10,000 crore, which is now part of RCom's books. 
 
Reliance Infratel sets up towers on which mobile phone companies install their base stations and equipment. The move to monetise it comes after nearly five years after a proposal for an initial public offering fell through due to stock market conditions, turmoil in the telecom industry, ongoing litigation and the absence of a clear valuation mechanism. Also, at that time, the only tenant on the towers was RCom. 
 
However, quite a lot has changes due to greater polic certainity and more pricing power and surging demand for data. Most leading telecoms 
have announced investments to expand and roll out 3G and 4G networks. As per the financial daily, RCom towers also now have 45,000 external tenancies, 30,000 from Reliance Jio Infocomm and 15,000 from others such as Airtel, Vodafone and Idea Cellular. 
 
(Image: Reuters)

Anil Ambani looks to trim debts, offers 51% stake in Reliance Infratel

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Here's the simplest explanation to what's been happening in Dalal Street so far

Shailendra Bhatnagar

MSME Exchange 2023 goes live on Jan 18: Get insights from leading voices that matter

BI India Bureau

Anil Ambani looks to trim debts, offers 51% stake in Reliance Infratel

BI India Bureau

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