Volatility has risen amid geopolitical tensions between Russia and Ukraine, impacting global markets.
Domestic markets could open flat to negative on Friday with SGX Nifty sitting in red and global cues hinting weakness. “Global markets remained on edge after a flare-up in geopolitical tensions between Russia and Ukraine. On the positive side, the Fed minutes indicated that while the central bank intends to shortly begin raising interest rates, its decisions would be data-dependent,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services. Dalal Street’s fear indicator, the India VIX soared nearly 7% on Thursday and could continue to sit above 22 levels amid heightened uncertainty. A stock-specific approach might be preferred by investors.
Reliance Industries: Mukesh Ambani’s Reliance Industries has listed its existing foreign currency bonds aggregating over $7 billion on India INX. The listing by Reliance makes it the largest one by a private entity on India INX and GIFT IFSC.
Wipro: The IT company has appointed Jasjit Singh Kang as Head of digital operations and platforms of its Integrated Cloud Infrastructure, Digital Operations, Risk and Enterprise Cyber Security Services business.
State bank of India: Public sector lender SBI has hiked interest rates on retail deposits of some maturities for the second time in as many months. For deposits with balances of less than Rs 2 crore, SBI will now pay 5.2% per annum in the two-to-three-year bucket, up from 5.1%.
Bharti Airtel: In the month of December, Bharti Airtel added 4,75,081 subscribers, data from the Telecom Regulatory Authority of India (Trai) showed. Bharti Airtel had hiked prepaid tariffs by 20-25% from November.
Apollo Hospitals Enterprise: The company said it has signed an MoU with Marafon Group to make an entry into Uzbekistan. Apollo Hospitals will set up a state-of-the-art tertiary care hospital in the country, which in phase-I will have over 100 beds and has the potential to expand to over 200.
Ambuja Cements: Ambuja Cements Ltd, on Thursday, reported a decline of 55.48% in its consolidated net profit to Rs 430.97 crore for the fourth quarter ended December 31, 2021.
Vedanta: Anil Agarwal’s Vedanta said it has signed a pact with TERI to accelerate its Environmental, social, and governance (ESG) goals. The company plans to invest Rs 200 crore over the next 5-10 years on R&D and sustainability initiatives to promote and build a sustainable ecosystem.
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