Name: Markets open in green, midcaps underperform
Uploaded: 2019-01-31T10:01:27.fff+05:30
Duration: T00M12S
Channel: editorji
Description: Markets opened higher led by Tata and ICICI Bank while midcaps underperformed.

Markets opened higher led by Tata and ICICI Bank while midcaps underperformed.

Markets open in green, midcaps underperform

Retail price rise picked up pace in March, Headline CPI rose to 5.5% in March from 5% in February. This marks a 4-month high for the retail prices. The pick u

Retail price rise picked up pace in March, Headline CPI rose to 5.5%&nbsp;in March from 5% in February. This marks a 4-month high for the retail prices.&nbsp; The pick up in inflation came from&nbsp;higher than anticipated uptick in food and fuel prices.&nbsp;&nbsp;Food inflation accelerated to 4.9% YoY in March mainly due to higher price of edible oil, fruits and meat.&nbsp; Industrial production for the month of February contracted&nbsp;3.6% YoY in February vs. -0.9% in January. This contraction however was anticipated given a higher base from last year.&nbsp;

As the Subject Expert Committee or the SEC has recommended the emergency use of Sputnik V, here are the five things you should know about the Russian-made Covid vaccine

Russian-made Sputnik V is set to debut as the third vaccine into the Indian market, here is what you need to know about it-:&nbsp;
<ul>
<li>Vaccine&rsquo;s efficacy is confirmed at 91%,&nbsp;which is higher than Covaxin&nbsp;(80%) and Covishield&nbsp;(70%)&nbsp;</li>
<li>Two dose vaccine, Second dose to be taken after gap of 21 days</li>
<li>Liquid form of Sputnik V needs to be stored at -18 degree Celsius; dry powder form can be stored at 2-8 degree Celsius</li>
<li>Reports indicate Sputnik V will be imported initially for use, may require import duty waiver to keep it under price controls.&nbsp;</li>
<li>Germany among other EU nations have started discussions with Russia to import Sputnik V as well.&nbsp;</li>
</ul>

Sensex and Nifty saw almost a zero recovery rate from the get go of trade as the financial capital Mumbai geared for an impending lockdown. Brokerages such as Nomura ha

Sensex and Nifty saw almost a zero recovery rate from the get go of trade as the financial capital Mumbai geared for an impending lockdown. Brokerages such as Nomura have already started to cut GDP forecasts on fears of yet another shutdown. Here are the headlines that shook investor sentiment-:
<ul>
<li>1.68 lakh new cases, the highest single-day rise&nbsp;</li>
<li>India is now the second most infected country in the world</li>
<li>Daily new cases in India double in just ten days.</li>
<li>India now accounts for one in every six daily infections worldwide.</li>
<li>Recovery rate falls below 90%, Death rate highest since October</li>
</ul>
Even the news of Sputnik V is not enthusing the market watchers as logistics for the Russian jab which needs&nbsp;a minus 18-20 degree Celsius cold chain to remain stable remains a big concern.&nbsp;

It was day worth forgetting on Dalal Street from 9:15 onwards there was relentless selling on heavy volumes. Here are the highlighhts Sensex crashes over

It was day worth forgetting on Dalal&nbsp;Street from 9:15 am onwards there was relentless selling on heavy volumes. Here are the highlights-:
<ul>
<li>Sensex crashes over 1,700 pts, ends below 48,000. Nifty holds 14,310</li>
<li>Worst single day drop in 2021 so far</li>
<li>46 out of 50 Nifty stocks end in the red</li>
<li>All the Nifty sectoral indices ended in the negative territory</li>
<li>Bank Nifty falls to 6 week low , down 18% from recent high&nbsp;</li>
<li>Over ₹8&nbsp;lakh crore&nbsp;worth of market-cap wiped out in a single day</li>
</ul>
Investors remain nervous on an impending lockdown&nbsp;as Covid&nbsp;cases continue to surge across the nation.

India Inc is working with the government to vaccinate their employees in order to avert more lockdown, a survey conducted by the Confederation of Indian Industry showed

India Inc is working with the government to vaccinate their employees in order to avert more lockdown, a survey conducted by the Confederation of Indian Industry showed. The industry body polled 710 CEOs and senior leaders across manufacturing and service sectors.
93% of the respondents feel that a more stringent implementation of safety norms would be a better alternative to the imposition of a partial lockdown. Almost all of these respondents have indicated that their firm is equipped and well prepared for implementation of stricter health and safety protocols.
A major share of the respondents (67%) have indicated that they are working with the government for mass vaccination of eligible workforce.&nbsp;More than half are stocking raw material and nearly a third of the firms are accommodating labor force within the factory to avoid night curfew.

E-commerce major Flipkart has announced a strategic and commercial partnership with the Adani Group to strengthen its supply chain infrastructure and enhance

E-commerce major&nbsp;Flipkart has announced&nbsp;a strategic and commercial partnership with the Adani Group to strengthen its supply chain infrastructure and enhance its ability to serve its growing base of customers.
As part of the plan,&nbsp;Flipkart will work with Adani Logistics Limited, which will construct a 5.34 lakh sq ft fulfilment centre in Mumbai that will be leased to Flipkart.&nbsp;The centre is expected to be operational byend of 2022 and will have the capacity to house 10 million units of sellers&rsquo; inventory at any point.
In addition, Flipkart will set up its third data centre at AdaniConnecX&nbsp;Private Limited's Chennai based facility.

Upstox, India’s second largest broking firm in terms of number of active clients,said its databases including contact details and KYC may have been breached. In

Upstox, India&rsquo;s second largest broking firm in terms of number of active clients,said its databases including contact details and KYC may have been breached.
In a statement, Upstox co-founder and CEO Ravi Kumar said funds and securities of customers are protected and remain safe.&nbsp;Upstox, backed by investors like Tiger Global and Ratan Tata, has over three million users.
The development follows reports of data breaches at large organisations like&nbsp;Facebook,&nbsp;LinkedIn, and&nbsp;MobiKwik.

Infosys is set to propose it's third share buyback in less than 5 years. In a filing to the stock exchange the company stated board would consider a

Infosys&nbsp;is set to&nbsp;propose it's&nbsp;third share buyback in less than 5 years. In a filing to the stock exchange the company stated&nbsp;board would consider a proposal for buyback of fully paid-up equity shares of the company on April 14.&nbsp;
Infosys&nbsp;stock currently at a 52-week high&nbsp;in the last one year has outpaced the index giving the shareholders a 125% return. The tech major&nbsp;had $3.4 billion in cash at the end of the December quarter.&nbsp;
This would be the third&nbsp;share buyback by Infosys in&nbsp;four&nbsp;years. The previous ones were $1.9bn in Feb&nbsp;2017 and $1.2bn in Jan&nbsp;2019.&nbsp;Infosys also announced a special dividend in FY19.

As investors await earnings from India's largest software exporter TCS, here are a few numbers the street is expecting -: Dollar revenue seen rising over 4% (QoQ), m

As investors await earnings from India's largest software exporter TCS, here are a few numbers the street is expecting -:
<ul>
<li>Dollar revenue seen rising over 4% (QoQ), margins expected to be flat with a slight expansion bias.&nbsp;</li>
<li>Revenue growth to be led by large deals&nbsp;like&nbsp;Postbank and Prudential Financial&nbsp;</li>
<li>Likely to be outpace peers in revenue and margin growth&nbsp;</li>
</ul>
Stock perched up at a 52 week high has outperformed the tech index in the year so far rallying over 15% vs a mere 5% rise in the Nifty in the same period. Earnings expected post markets today.&nbsp;

There is nothing stopping online-education startup Byju’s which is now reportedly raising $1 billion from facebook co-founder Eduardo Saverin's&nbs

There is nothing stopping&nbsp;online-education startup Byju&rsquo;s&nbsp;which is now reportedly raising $1 billion from facebook co-founder&nbsp;Eduardo Saverin's&nbsp;B Capital. Bloomberg&nbsp;reports the current fundraising&nbsp;values Byju's&nbsp;at $15 billion. Silver Lake Management,&nbsp;Owl Ventures&nbsp;and&nbsp;T Rowe Price all existing investors will also join into this round of fund raising as well.&nbsp; Byju's&nbsp;is India's&nbsp;second most valued startup&nbsp;after PayTM.

The covid collapse in the economy last year is showing up in numbers across the board. The pandemic caused India’s annual power demand to drop for the first time

The covid collapse in the economy last year is showing up in numbers across the board. The pandemic caused India&rsquo;s annual power demand to drop for the first time in 15 years as per data from&nbsp;Central Electricity Authority. It is not just electricity even fuel demand saw an expected big dip as the country shutdown at the start of the previous fiscal.&nbsp;India&rsquo;s fuel demand contracted by 9.1% in the financial year ended March 31.&nbsp;This is the first time fuel consumption has contracted since 1998-99, the most historical year for which government data is available.&nbsp;

With 9,300 covid cases added in the last 24 hours, Mumbai is now seeing infection double every 34 days. The total number of cases in the city now stands at 5,10,225 out

With 9,300 covid cases added in the last 24 hours, Mumbai is now seeing infection double every 34 days. The total number of cases in the city now stands at 5,10,225 out of which 91,000 are currently active.&nbsp;
The doubling rate for the infection has gone up from 44 days to 34 days in just a week. The financial capital has&nbsp;added over one lakh new cases in the last 13 days.
Mumbai is facing not just a vaccine shortage with private innoculation&nbsp;centres shut over the weekend&nbsp;but is also facing wide shortage of&nbsp;Remdesivir drug across the city.&nbsp;

Reports indicate that price negotiations for importing Russian vaccine Sputnik V have begun. Hyderabad based Dr Reddy's Lab (DRL) has already formulated a tie-up w

Reports indicate that price negotiations for importing Russian vaccine Sputnik V have begun. Hyderabad based Dr Reddy's&nbsp;Lab (DRL) has already formulated a tie-up with Russian Direct Investment Fund to import the vaccine once regulatory approvals are through.&nbsp;
Current rate of procurement for Covishield&nbsp;and Covaxin&nbsp;is at Rs 150/dose for the Indian government.&nbsp; DRL&nbsp;and Sputnik V backer&nbsp;RDIF&nbsp;have agreed upon 100 million doses for import into India.&nbsp; &nbsp;&nbsp;

The Indian startup ecosystem is on a roll as we get two more names adding to the list of unicorns this week. Sharechat owner Mohalla tech and messaging p

The Indian startup&nbsp;ecosystem is on a roll as we get two more names adding to the list of unicorns.&nbsp;Sharechat&nbsp;owner Mohalla&nbsp;tech and messaging platform Gupshup&nbsp;crossed the $1-billion-valuation-mark after the latest round of funding.
Mohalla Tech&nbsp;raised $502 million in a funding round led by Lightspeed Ventures and Tiger Global, pushing the startup&rsquo;s valuation to $2.1 billion.&nbsp;Gupshup&nbsp;achieved the coveted label after raising $100 million from Tiger Global, increasing its valuation ten-fold to $1.4 billion.
10 companies have crossed&nbsp;the $1-billion valuation mark this year. Six of them have turned unicorns in just one week.&nbsp;
&nbsp;
&nbsp;

China's State Administration for Market Regulation has fined Jack Ma's Alibaba a record of 8.23 billion yuan ($2.78 billion) for for abusing market dominant p

China's State Administration for Market Regulation has fined Jack Ma's Alibaba a record of&nbsp;8.23 billion yuan ($2.78 billion) for&nbsp;for abusing market dominant position. China's market regulator has also demanded Alibaba&nbsp;"stop illegal activities." The record fine is equivalent to 4% of 2019's total domestic sales for the e-commerce company.&nbsp; Chinese regulators said it abused its dominance to punish merchants who sold goods on rival platforms.

TCS and Infosys will kickstart earnings for Dalal street this week, with both stocks perched at 52 week highs, this is what you can expect from the boardroom-: Broke

TCS and Infosys will kickstart earnings for Dalal street this week, with both stocks perched at 52 week highs, this is what you can expect from the boardroom-:
<ul>
<li>Brokerages expect&nbsp;to see revenue growth between 1.4-3.6% (QoQ) in Q4 driven by strong demand environment.</li>
<li>Large wage hikes across the board by companies in March will keep margins flat</li>
<li>TCS will likely to lead growth with steady margins, Infosys and HCL Tech are likely to see sharp margin contraction</li>
<li>Demand outlook looks firm as&nbsp;deal activity stays close to all-time high for a second straight quarter</li>
<li>ISG index that tracks global tech deals &nbsp;now expects 5% YoY growth in average revenue per contract&nbsp;in 2021 vs 3% earlier and also indicated 4-7 mega deals, that are still in works.</li>
</ul>
Alert: TCS reports Earnings on April 12, Infosys April 14

Online insurance agent Policybazaar is planning to go public through an IPO which could come by the year-end. The Softbank-backed unicorn may file its draft prospe

Reports indicate that online insurance agent Policybazaar&nbsp;is planning to file for an IPO as early as next month.&nbsp;The Softbank-backed unicorn may look to raise $500 via the public offering that could value Policybazaar at $3.5 billion.
According to latest updates on Crunchbase, to date, the company has raised $766.6 Mn in 13 funding rounds from 22 investorsPolicyBazaar's most recent funding round was in March 2021, when it raised a $75 Mn private equity round led by Falcon Edge Capital.
The portal hosts more than 100 million visitors a year and sells 400,000 insurance policies each month, according to its website.&nbsp;

Do not take yet ased e-commerce giant Amazon has moved the Supreme Court, challenging the Delhi High Court’s division bench order that allowed Kishore Biyani

E-commece giant Amazon has moved the Supreme Court, challenging the Delhi High Court&rsquo;s division bench order that allowed Kishore Biyani-promoted Future Group to proceed with its&nbsp;₹24,000 crore asset sale deal with Reliance.
Amazon is requesting a stay from the apex court till a final outcome of its earlier plea related to the deal.&nbsp;In it's petition as seen by PTI, the company has asked the SC to pass any further order, which it may deem fit and proper in the facts and circumstances of the present case.

After 8 months of outflows the curse on equity mutual funds seemed to have been lifted. Equity-oriented schemes in March have reported net inflows of Rs 9,115 cr.

After 8 months of outflows the curse on equity mutual funds seemed to have been lifted.&nbsp;Equity-oriented schemes in March have reported net inflows of Rs 9,115 cr.
As per AMFI&nbsp;data&nbsp;Gross redemptions in March came in much lower at Rs 18,908 crore for equity schemes vs Rs 30,000 cr in previous months. Investment in SIP also saw a big boost of inflow of Rs 9,100 cr.&nbsp; Debt-oriented schemes however saw net outflows of over Rs 52,000 cr.
&nbsp;

Adding to the request for vaccinations the finance ministry has requested the health and home ministries to issue guidelines instructions for enabling CO

Adding to the request for vaccinations the&nbsp;finance ministry has requested the health and home ministries to issue&nbsp;guidelines&nbsp;instructions for enabling COVID-19 vaccination of employees of banks and National Payments Corporation of India on priority basis.
 As per IBA data the banking sector has seen&nbsp;600 unfortunate deaths due to COVID-19, finance ministry stated in it&rsquo;s appeal.&nbsp;
 The IBA in the last month had written a letter addressed to Secretary Health and Family Welfare for inclusion of bank employees for vaccination on priority basis given their role their important role in running the economy.
&nbsp;

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