Here’s a roundup of the day’s top stories in brief.
1. Mrs. Bectors IPO Shatters Records
Mrs. Bectors Foods Specialties Ltd.’s initial public offering was subscribed 199 times at close, making it the most successful issue since 2017.
2. Foreign Investors Flood Indian Stock Markets
In just the last 33 trading sessions since Nov. 2, foreign investors have ploughed in over Rs 1 lakh crore in India’s equity market. Will this trend sustain?
3. Nifty Gains For Fifth Day
Indian equity markets managed to register yet another record high, led by private financial companies and pharmaceutical stocks.
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Biryani sends Jubilant Foodworks’ stock to record high.
Divi’s Laboratories market cap crosses Rs 1-lakh-crore.
Globally, WTI crude prices hovered near a 10-month high.
4. Bitcoin Rallies 220% In 2020
Bitcoin breached $23,000 for the first time. As momentum for the digital currency builds, analysts are predicting more gains ahead.
5. Large Private Banks Entering A ‘Golden Age’
Morgan Stanley raised its outlook and price targets for Indian banks as it expects a sustained recovery for the sector, particularly large private lenders.
Also Read: India Market No Longer Cheap; Earnings Key Upside Driver, Says Credit Suisse
6. Pharmaceutical Sales Growth Slows
Indian pharmaceutical market saw sales slow down in November as volumes dropped. Find out which firms were most affected.
7. Anil Agarwal Eyes Divestment Deals
Anil Agarwal is planning to invest $10 billion through a new partnership that will look to turn around government companies being sold off as part of India’s divestment plan.
8. Indian Toy Story, But Without A Happy Ending
India has issued new certification rules for toymakers. Now, more than three-fourths of the country’s toymakers are under the risk of going out of business.
9. Layers In The Cement Mix
Demand is strong, and firms have been prudent with their capital expenditure. But is the picture on pricing and costs clear enough to warrant further re-rating, asks Niraj Shah.
10. Supreme Court Acknowledges Farmers’ Right To Non-Violent Protest
The bench headed by Chief Justice SA Bobde added that the purpose of the protest can be achieved if the farmers and the government hold talks and “we wish to facilitate that“.
Also Read: In Charts: The Best And Worst States For Women Financial Empowerment
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