The Reserve Bank of India will seek to buy more than 3 trillion rupees ($41 billion) of sovereign bonds in the next fiscal year to support the government’s borrowing plans, according to a person with knowledge of the matter.
Money Market
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MPC Leaves Repo Rate Unchanged; CRR To Be Normalised In Two Phases
Accommodative Stance Would Continue Well Into Next Year, Says RBI Governor
Analysts Raise SBI Earnings Estimates, Targets For SBI After Q3 Results
Analysts have raised earnings estimates and target prices for State Bank of India, and expect a further rerating on account of its lower slippages, fall in credit costs and attractive valuations, among others.
Stocks To Watch: Britannia, Hero MotoCorp, IRFC, M&M, Pfizer, PNB, Tata Power
Stocks To Watch : Indian equities reversed losses on the weekly options expiry session to end higher for the fourth straight day, scaling new highs in the process. The S&P BSE Sensex ended 0.7% higher at 50,614 while the NSE Nifty 50 index gained a similar quantum to end at 14,895. Both benchmarks made an intraday record of 50,687 and 14,913 respectively during the session.
Asia Hedge Funds Skirt Reddit Rout as China-focused Firms
Asia hedge funds largely avoided the Reddit turmoil that hammered some global peers last month, with many posting gains led by LyGH Capital and Pinpoint Asset Management. Snow Lake Capital and WT Asset suffered losses.
Ajanta Pharma’s net profit rose 64% year-on-year
Shares of Ajanta Pharma Ltd. rose to their highest in four years as sales surged across key markets in the third quarter.
Ether Follows Bitcoin to Record High Amid Dizzying Crypto Rally
The digital currency Ether reached a record on Monday a day after Bitcoin breached $34,000 for the first time as the surge in cryptocurrencies continues.