Listen: Factors Likely to Trigger a Paint Inventory Recovery

Hi hello. Welcome to ETMarkets Morning, the money, business and markets show. I am Nikhil Agarwal. Let’s start with the headlines first.

– Tax scams are likely for InvIT to seduce investors
– U.S. consumer prices are up 7% in the past year, the most since 1982
– UBS cuts FY22 GDP forecast by 40 basis points to 9.1%

Now let me give you a quick overview of the state of the markets.

Asian stocks traded mixed on Thursday after surging the day before, despite gains on Wall Street following data showing another surge in consumer prices. The MSCI Asia-Pacific ex-Japan equity index rose 0.10%.

Elsewhere, the yield on 10-year Treasury bills was 1.74%. The dollar was below key support levels on Thursday after hitting new lows overnight after data showing US consumer prices rose at their fastest pace in nearly 40 years. were not deemed sufficiently worrisome to alter an already hawkish rate outlook. Bitcoin advanced nearly $44,000 as inflation figures reignited debate over whether the cryptocurrency is a hedge against rising consumer prices.

That said, here’s what’s making the news.

Infosys stole the show from its peers, including TCS and Wipro, given their third-quarter financial performance. The country’s second-largest IT exporter not only posted strong sequential revenue and profit growth for the quarter, but also raised the constant currency (CC) revenue forecast for the full year by more than forecasts. analysts had expected.

The announcement by Motherson Sumi Systems of the record date of its split could increase investor interest in the stock in the short term, motivated by the prospect of value creation from the split entity. The stock has gained 12% over the past five trading sessions.

Shares of Indian paint makers are expected to outperform on expectations of strong medium-term revenue growth, driven by volume growth and price increases in response to inflationary commodity prices, analysts said. Growth will be mainly driven by the shortening of the paint cycle, demand for housing, the conversion of “kutcha” houses into “pucca” houses and increased investment in infrastructure, they said.

NOW Before we go, here’s a look at some of the action buzzing this morning…

The board of directors of Tata Consultancy Services (TCS) on Wednesday approved the buyback of up to 4 crore of shares for a total amount not exceeding Rs 18,000 crore, the company said in a regulatory filing.

IT major Infosys said on Wednesday its consolidated net profit for the quarter ending December soared 11.8% to 5,809 crore rupees from 5,197 crore rupees in the corresponding quarter last year.

Telecom operators Vodafone Idea (VIL), Tata Teleservices and Tata Teleservices (Maharashtra) (TTML) will not become public sector companies after their due interest on dues is converted into government shares, the Ministry of Finance announced on Wednesday. Communications.

Market regulator Sebi announced on Wednesday that it had granted recognition to CDSL Ventures as an accrediting agency. With this recognition, CDSL Ventures will be able to issue certificates of accreditation to “accredited investors”.

——-

Also, check out over two dozen stock recommendations for today’s trade from top analysts at ETMarkets.com.

That’s all for the moment. Stay with us for all market news throughout the day. Good investment!

Back To Top