The Indian stock markets were holding on to the fresh lifetime highs logged in today’s early trade, with financial counters contributing in a major way. Among the headline indices, the S&P BSE Sensex scaled the 52,000-mark for the first time ever, and was trading 600 points up at 52,140 levels.
The broader Nifty50 index also hovered above 15,300. IndusInd Bank (up 2%) was the top Sensex gainer, followed by Kotak Mahindra Bank, ICICI Bank, HDFC Bank, and Bharti Airtel (all up over 1%). The Nifty sectoral indices were painted green, led by Nifty Private Bank index, up 1.7 per cent. Meanwhile, the Nifty Bank index topped the 37,000-mark for the first time.
In the broader markets, the S&P BSE MidCap and SmallCap indices were up half a per cent, each. SIDBI and Equifax launched the second edition of “Fintech Pulse”, a quarterly publication highlighting key trends of the fast growing NBFC (Non- Banking Financial Company) Fintech segment. “Fintech Pulse” aims to provide insights on trends in the Indian Fintech industry – from disbursements to delinquencies to top growing states and top loan categories.
The three-day initial public offering (IPO) of the state-owned RailTel Corporation of India will open for subscription on Tuesday. The price band has been fixed at Rs 93-94 a share for the initial share-sale. The IPO is entirely an offer-for-sale through which the government will offload 87,153,369 equity shares, amounting to 27.16 per cent stake. At the upper end of the price band, the government would raise a little over Rs 819 crore.
A continued increase in in-home consumption and demand for packaged food along with festive season is likely to have driven the growth for fast-moving consumer goods (FMCG) maker Nestle India during the December 2020 quarter, according to analysts, who see a nearly 10-13 per cent growth in revenue on a yearly basis. However, on a sequential basis, the sales growth is likely to be flat or may dip marginally between 1-2 per cent, they believe