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Financial Market Headlines For 25 November 2023

FINANCE MARKET HEADLINES TODAY
FINANCE MARKET HEADLINES TODAY

Auto Industry

  1. Hero Electric Taps Investor GII, Credit Funds to Raise ₹550 cr Hero Electric seeks funding to address its working capital crunch and regain market share.
  2. Maruti to Issue Over 1.23 crore Shares to Parent for Gujarat Stake Maruti Suzuki India plans share allotment to Suzuki Motor Corporation for stake acquisition in Suzuki Motor Gujarat.

Aviation Industry

  1. IndiGo to start flights from Noida International Airport IndiGo will be the first airline to start flights from the Noida International Airport, scheduled to be operational by 2024-end.
  2. Premium Economy, A Flight Worth Flying India’s aviation sector explores the potential of premium economy class amid various market pressures.

Banking and Finance

  1. RBI Supersedes Abhyudaya Board, but Imposes No Curbs The RBI takes over the management of Abhyudaya Co-Operative Bank, citing governance lapses.
  2. RBI Slaps Fines on Citibank and Bank of Baroda Citibank and Bank of Baroda face significant fines from RBI for non-compliance with various norms.
  3. RBI Could Defer OMO Sales with Liquidity Deficit at Over 4-Year Highs The RBI may reconsider its open market bond sale strategy due to a high liquidity deficit.
  4. Rupee Closes at a New Low 83.38 a Dollar The Indian rupee hits a new low against the US dollar.
  5. Centrum Plans to Sell Stake in Hsg Finance Biz, Hires EY to a Find Buyer Centrum explores options to divest or monetize its housing finance business.
  6. Sebi Looks to Ease Trading Norms For Company Insiders SEBI proposes easing insider trading norms to facilitate trading by senior company management.
  7. Berkshire Hathaway Sells Paytm Shares Worth ₹1,370 cr, Exits Co Warren Buffet’s Berkshire Hathaway sold shares of One 97 Communications, parent of Paytm.

Construction and Real Estate

  1. Housing Rent Surges 22%: Magicbricks A significant increase in residential property rentals across major Indian cities.
  2. Wildflower Resort Case: Himachal Gets Time to Reply to EIH’s Plea The High Court of Himachal Pradesh allows the state government time to respond in a dispute concerning the Wildflower Hall property.

E-Commerce and Retail

  1. Ecomm Cos, Brands Line Up for Black Friday Rush Ecommerce platforms and brands in India prepare for Black Friday sales.
  2. It’s Official: Your Subway to Come with Coke Subway India ends its exclusive deal with PepsiCo and partners with Coca-Cola.
  3. Coke Launches ONDC Marketplace Coca-Cola onboarded onto the Open Network for Digital Commerce (ONDC).

Electronics and Technology

  1. Catalysing Indian Innovation Ecosystem — the RISC-V Way India making strides in the electronics and semiconductor sectors.
  2. India, EU Sign Semicon MoU A significant MoU signed between India and the EU regarding semiconductors.
  3. It’s Telcos vs Tech Again, This Time Over Use of 6 GHz Band Debate between telecom and technology sectors in India over the 6 GHz band usage.
  4. Known Germs Causing Illness: China to WHO Chinese authorities report known pathogens causing respiratory diseases among children to WHO.
  5. Lenovo Launches Computers with India-Made Motherboards Lenovo introduces PCs with made-in-India motherboards.

Energy and Utilities

  1. Power Demand Up 16% in Aug-Oct Increase in power demand due to various factors including higher temperatures and industrial activity.

Agriculture

  1. As Local Exotic Flowers Bloom, Imports Wilt A growing trend in India for domestically grown exotic flowers, reducing imports.
  2. Tur & Onion Growers may be Paid Via DBT for Procurement The government plans direct bank transfers to farmers for tur and onion purchases.

Pharmaceuticals and Healthcare

  1. JB Pharma Open to More Buys to Grow Branded Biz Share JB Chemicals & Pharmaceuticals looks for acquisitions in the branded formulation business.
  2. Two Painkillers may Go Off OTC Over Misuse The DCGI considers banning over-the-counter sales of pain relievers Tapentadol and Pregabalin.

Miscellaneous

  1. Mega IPO Show Ends on a High, All Eyes on Listing Day Record investment in India’s IPO market.
  2. ‘Social Media Cos have Seven Days to Tweak Terms of Use’ Government directive to social media on terms of service adjustment.
  3. Can’t Accept Hindenburg’s Adani Claims as Ipso Facto Correct, No Reason to Doubt Sebi Probe: SC Supreme Court’s stance on Hindenburg Research’s allegations against Adani Group.

Author(s): Economic Times
Title of Work: ET Print Edition
Date of Publication: 25 November
Publisher: The Economic Times
URL: https://epaper.indiatimes.com/print_edition/105483141.cms​​.

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