Analyst Stock Recommendations:
- Eicher Motors raised to ‘add’ and Buy for price target: Rs 2,795
- Divi’s Labs cut to ‘reduce’ at Neal Bhai price target: Rs 4,628
- Stocks Market – Eicher Motors, Hero MotoCorp, Indiabulls Housing Finance, ONGC
- Torrent Pharma Gains The Most In Five Months Ahead Of Reporting Q2 Numbers
- Stocks To Watch: Eicher, L&T, Maruti Suzuki, Tata Motors
- Paytm Mall Raises Rs 2,900 Crore From SoftBank, Alibaba
- India’s Gold Imports Hit 2-Year Low: Gold Up or Down?
Rupee traders will watch for inflows as India’s biggest initial share sale opens for subscription. Bond traders are likely to weigh the impact of a cut in excise duty on gasoline and diesel on inflation and government finances.
- The float by One97 Communications, the parent of Paytm, is priced in a band of Rs 2,080-2,150 and aims to raise as much as Rs 18,300 crore ($2.5 billion); offer closes Nov. 10
- USD/INR fell 0.3% to 74.4600 on Wednesday
- Onshore markets were shut Thursday and Friday for the Diwali holiday
- Implied opening from forwards suggests spot may start trading around 74.24
- 10-year yields little changed at 6.36% on Wednesday
- Global funds sold net Rs 401 crore of India stocks Wednesday: NSE
- They did not sell sovereign bonds under limits available to foreign investors, and withdrew Rs 63 crore of corporate debt
- State-run banks bought Rs 738 crore of sovereign bonds on Nov. 3: CCIL data. Foreign banks sold Rs 359 crore of bonds
Source: Bloomberg
Disclaimer
This article is intended for educational purposes only. The views and opinions expressed are those of individual analysts or brokerage firms and do not represent the views of GoldSilverReports.com. Investors are strongly advised to consult certified financial experts before making any investment or trading decisions.
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