Stock market news briefing: ETMarkets Morning Podcast: Asia’s first crypto ETF may roll out in GIFT City

Hello good Morning. Welcome to ETMarkets Morning, the showcase for money, business and markets. I’m Saloni Joel. Let’s start with the headlines first.

– HCL Tech releases its December quarter earnings today
Vi may take advantage of the FCCB pathway to raise $750 million – $1 billion
Asia’s first crypto ETF may be launched in GIFT
Forex reserves to meet the challenge of 256 billion dollars

Now lemme gives you a quick overview of the state of the markets.

Asian stocks fell after a large number of Federal Reserve officials indicated that they will fight inflation aggressively and the Nasdaq 100 index fell to its lowest level since October. Stocks fell across the region, with indexes in Japan, and Korea down more than 1%.

Elsewhere, the yield on the 10-year Treasury rose 2 basis points to 1.72%. The dollar is heading for its biggest weekly decline in eight months as investors scale back their long positions and consider, for now, that many of the US interest rate hikes this year have been fully priced in.

Oil is heading for a fourth consecutive weekly gain, the longest winning streak since October, amid signs that the market is tightening as global consumption resists the impact of the omicron virus variable. West Texas Intermediate fell below $82 a barrel in Asian trading, but was above 3% this week.

However, here’s what makes the news.

Vodafone Idea is veering towards an external convertible bond option to raise between $750 million (approximately Rs 5,550 crore) and $1 billion (approximately Rs 7,400 crore) at the earliest, to pay vendors receivables, meet loan repayment obligations as well as finance capital expenditure plans, People familiar with the matter said.

With private sector firms providing the most healthcare in India, the trend in the financial performance of the top 10 hospital chains of listed companies over the past eight quarters shows that they have fought off the first two waves of the pandemic well – and have emerged more profitable, less effective as valuations on the stock exchanges rise. .

Torus Kling Blockchain IFSC, a joint venture between Mumbai-based Cosmea Financial Holdings and Hyderabad-based Kling Trading India, has signed a Memorandum of Understanding (MoU) with the international arm of BSE India INX to launch digital asset-based products, which will be traded on the Service Hub. International Finance (GIFT City).


Wealth managers advise that investors choose mutual fund plans that consistently perform better than their benchmarks and category averages in both rising and falling markets, and stick to a fund manager who takes a balanced approach, rather than seeking returns based on previous year’s performance.

Now before I go, here’s a look at some stocks that buzzed this morning

Reliance Industries said Thursday it will invest 5.95 crore ($80.49 billion) in green energy and other projects in the western state of Gujarat, as the conglomerate targets net carbon emissions by 2035.

Tata Motors reported a 2 percent year-over-year increase of 2,85,445 units in global wholesale sales for the group, Jaguar Land Rover, for the third quarter of fiscal year 22.

Information technology company Mindtree Thursday announced a 34 per cent increase in consolidated net profit at Rs.437.5 crore for the December quarter 2021 on the back of strong demand and strong client mining. Mindtree said in a regulatory filing that the company posted a net profit of Rs 326.5 crore in the same period last year.

Abu Dhabi Investment Authority (ADIA), Amundi Asset Management, East Spring Investment Singapore, along with some Taiwanese banks and brokerages, are likely to be among the major investors subscribing to SBI’s Formosa bond.

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That’s it for now. Stay with us for all the market news of the day. Happy investment!