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    ETMarkets Morning Podcast: What's buzzing on Dalal street today

    Synopsis

    The IPO mart was abuzz with speculations of Reliance coming out with the IPO of its telecom arm, Reliance Jio.

    ETMarkets.com
    Hello and welcome to ETMarkets Morning Podcast!

    All seems to be going wary on the economic front. The CPI inflation is at a 15-month high whereas the industrial output growth has slowed down to a three- month low for October. And this along with Fed's decision is likely to be enough to spook investors on Dalal Street today!

    So on this note let's begin today's session on Dalal Street.
    This is Prachi Sharma with your daily digest of market news, views and cues!

    Nifty futures trading on the Singapore Stock Excahnge also hint towards a cautious day today. Moreover, Asian equities too are trading on a flat note with MSCI’s broadest index of Asia-Pacific shares outside Japan ticking higher in early trade. However, Japan's Nikkei stock index edged down slightly.

    US markets in overnight trade witnessed S&P 500 and Dow register their record closing highs with a boost from bank stocks as investors eyed a potential cut in US corporate taxes and continued economic growth after strong inflation data.

    The IPO mart was abuzz with speculations of Reliance coming out with the IPO of its telecom arm, Reliance Jio. However the company has quashed these reports saying nothing is in the offing yet.

    Astron Paper and Board Mills plans to raise Rs 70 crore from the primary market to increase capacity and repay a portion of its debt. After the intial public offer (IPO), the holding of its four promoters will reduce to 46% from over 66%.

    In other news,
    The Insurance Regulatory and Development Authority (Irda) has given its in-principle approval to the National Insurance Company to list its shares, as the state-run insurer has strengthened its balance sheet and improved solvency margins.

    State-owned Punjab National Bank (PNB) raised equity capital of Rs 5,000 crore by selling shares to Institutional Investors. The shares were sold at Rs 168 per share, a discount of about Rs 10 to the closing price of Rs 173.55 on Tuesday.

    A consortium of Aion Capital Partners and JSW emerged the strongest contender for acquiring Monnet Ispat and Energy Ltd, one of the initial 12 companies shortlisted by the Reserve Bank of India (RBI) for insolvency proceedings.

    he Bharti Group has agreed to sell a fifth of its DTH unit, Bharti Telemedia, to private equity firm Warburg Pincus for Rs 2,258 crore.

    If you are looking for more stock specific triggers there are plenty of them and over a dozwn recommendations from top brokerages on www.etmarkets.com. If you need them daily you can also download our app and keep getting them on the go.

    Before I take your leave, let's go through some interesting headlines from ETMarkets Print Edition:

    Companies, private equity funds and industry associations have suggested that the government ease curbs on promoters bidding for companies that face insolvency proceedings, provided they are not classified as wilful defaulters.

    The wait for framing final regulations to punish highprofile individuals, including promoters, who have given personal guarantees for corporate loan defaulters may soon be over as the regulator is set to make a call on the matter next week. The governing body of Insolvency and Bankruptcy Board of India (IBBI) is expected to finalise broad contours for dealing with personal guarantors of defaulting entities — seen as an additional tool to punish truant promoters — at a meeting on Dec 19.

    Realty major DLF’s plan to infuse capital into the company through convertible warrants, followed by a qualified institutional placement, will reduce its debt by more than half. The company has called an Extraordinary General Meeting to conclude the transaction at the end of the month.

    Well that's it for today. Thank you for listening in. Do enjoy your trading day and makke loads of money but don't forget to logon to www.etmarkets.com for continous updates on every development in the financial markets. Have a good day ahead!



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

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