Listen In: How Airtel, Voda and Jio’s Q4 numbers might look like | The Economic Times Podcast

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

– HDFC Bank plans to raise ₹50, 000 crore through bond sale
– Bandhan-led group to buy IDFC MF for ₹4,500 crore
– No change in petrol, fuel prices today

Now lemme give you a quick glance on the state of the markets.

Asian stocks fell Thursday after the Federal Reserve outlined plans to pare its balance sheet by more than $1 trillion a year while hiking interest rates in a campaign to curb elevated inflation. Equities in Japan, South Korea and Australia declined.

Elsewhere, the yield on 10-year Treasuries fell three basis points to 2.57%. The dollar gauge was around a three-week high as investors digested the minutes of the Fed’s March meeting. Oil prices clawed back some losses on Thursday after tumbling more than 5% to a three-week low in the previous session after consuming nations announced a huge release of oil from emergency reserves to offset supply lost from Russia.

That said, here’s what is making news.

Reliance Jio, Bharti Airtel and Vodafone Idea (Vi) are set to report strong average revenue per user (ARPU) as well as India mobile revenue sequential growth in the fiscal fourth quarter, helped by the full beneficial impact of sharp tariff hikes taken last November-December, analysts said. Jefferies estimates Airtel and Jio to report 10% sequential jumps in their India mobile revenues in the March quarter, while BNP Paribas estimates Vi’s to rise by around 5.5% on-quarter.

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LASTLY,

Federal Reserve officials in March “generally agreed” to cut up to $95 billion a month from the central bank’s asset holdings as another tool in the fight against surging inflation, even as the war in Ukraine tempered the first US interest rate increase.

NOW Before I go, here is a look at some of the stocks buzzing this morning…

Bandhan Financial Holdings won the bid to buy IDFC Asset Management Company in a deal valued at ₹4,500 crore, marking the entry of a financier that began its life as a bottom-of-the-pyramid lender into the ritzy business of asset management dominated by bulge-bracket financial groupings such as ICICI, HDFC and the State Bank of India.

The country’s largest carmaker Maruti Suzuki Wednesday said it will increase prices across its range of vehicles later this month to partially offset the sharp rise in input costs.

Tata Motors expects its electric vehicle sales to more than double in the current financial year, backed by strong demand for cleaner vehicles amid rising fuel prices.

Coffee Day Enterprises Ltd on Wednesday said it has defaulted a total of Rs 479.68 crore on repayment of loans and unlisted debt securities in the quarter ended March 31, 2022.

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Do also check out over two dozen stock recommendations for today’s trade from top analysts on ETMarkets.com.

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



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