Today’s breaking news on business, finance and the stock market at 9:30 a.m. on September 12, 2022


Episode
583
September 12, 2022

Transcript of today’s latest trade news at 9:30 am September 12, 2022

“You are listening to the Expresso Business update. Here is the latest Indian and international business news brought to you by The Indian Express and The Financial Express.

Let’s start with some stock market news – Market experts are urging caution amid a surge in Indian stocks since mid-June and the benchmark Nifty 50-stock index approaching a crucial resistance level of 18,000 The index has corrected four times since breaking the bar last year, with three corrections above 10%. According to foreign brokerage Jefferies, a gap of more than 2 percentage points between the yield of 10-year government securities and that of Nifty50 earnings also coincided with the peak of Nifty. The current spread is 2.01 ppt. The pick-up in IFP inflows into equity markets and rising expectations for India’s inclusion in global bond market indices have led to a stable currency and resilient bond markets over the past month.
In another update – The Center is unlikely to offer tax incentives for the issuance of its first green bonds in the second half of the current fiscal year, as it believes that investor interest in them comes from corporate green promises and funds, rather than profit. patterns. Rupee-denominated bonds, through which the government plans to raise Rs 20,000 crore-Rs 25,000 crore, will carry a slightly lower coupon rate than comparable government securities. The yield on 10-year G-secs is now around 7.2%.
On to other developments – Although the new railroad land royalty policy paved the way for the privatization of Container Corporation, the transaction will likely only bear fruit in the next fiscal year. Indeed, it is difficult to complete all the processes by March 2023. The divestment, the process of which was to start early this year, has been delayed due to the delay in rolling out the new LLF policy. The Investment and Public Assets Management Department will consider the changes to the LLF policy which will be operationalized in three months and seek feedback from investors, before launching expressions of interest. According to a senior official, these processes leading to the conclusion of the transaction could take up to a year. Under the new policy approved by the Cabinet Committee on Economic Affairs last week, the LLF will be 1.5% of the land value of new plots of land for the establishment of freight businesses, down from 75% from now on. In addition, the term of the lease will be 35 years, instead of five years.
In another development, Tata Motors is likely to recruit investors for its new wholly-owned mobility subsidiary, TML Smart City Mobility Solutions, to secure funding to fulfill orders from various state governments under tenders for electric buses. The company has already secured orders for 3,600 electric buses as part of the call for tenders for 5,450 e-buses launched by Convergence Energy Services, supported by the Centre. With an average price of an electric bus ranging between Rs 1.5 crore and Rs 2 crore, the new subsidiary of Tata Motors would need around Rs 5,400 crore to Rs 7,200 crore to purchase the 3,600 e-buses. TSCMSL will not only operate and maintain these buses, but will also have to buy and own them, which has never been done by Tata Motors so far. As the contract to operate these buses would be for 12 years, in some cities where Tata Motors won the contract, this new company will be asset-rich whose balance sheet will reflect all the buses.
Meanwhile, Infosys has signed a five-year agreement with a leading manufacturer of aerostructures for commercial aircraft, defense platforms and business/regional jets – Spirit AeroSystems – to provide aerostructure engineering services and of systems for the development of commercial, business and emerging aircraft products. maintenance, repair and overhaul programs and services. This collaboration builds on a 16-year long-standing relationship between the two, during which Infosys provided innovative design solutions for some of Spirit’s aerostructure programs. As part of this commitment, Infosys will offer end-to-end product development services, including design engineering, sustaining engineering, manufacturing engineering, repair and maintenance.
Finally – With the receding monsoons and the resumption of construction activities, cement manufacturers could opt for price increases by mid-September in eastern India and early October in some other regions. In August, pan-India average prices corrected by around 2% on a monthly basis, while a drop in petroleum coke prices – which are now cheaper than imported coal – would help improve their profitability. Brokerage firm ICICI Securities said in a report that cement companies had raised prices by 15 to 20 rupees per bag in eastern and western India, effective September 6, with the possibility of a further rise of 15 rupees per bag in the east by mid-September. They are expected to increase prices in the northern and central regions from the first week of October.

You were listening to the Expresso Business Update by The Indian Express and The Financial Express. Have your digital assistive device read the latest Indian Express business news and stay abreast of happenings in financial and business stories.

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Today’s breaking news on business, finance and the stock market at 9:30 a.m. on September 12, 2022Transcript of today’s latest business news at 9.30am 12th September 2022 “You are listening to Expresso Business Update. Here is the latest news from the world of Indian and international business brought to you by The Indian Express and The Financial Express.” Let’s start with some stock market news – Market experts are urging caution amid a surge in Indian stocks since mid-June and the benchmark Nifty 50-stock index approaching a crucial resistance level of 18,000 The index has corrected four times since breaking the bar last year, with three corrections above 10%. According to foreign brokerage Jefferies, a gap of more than 2 percentage points between the yield of 10-year government securities and that of Nifty50 earnings also coincided with the peak of Nifty. The current spread is 2.01 ppt. The pick-up in IFP inflows into equity markets and rising expectations for India’s inclusion in global bond market indices have led to a stable currency and resilient bond markets over the past month. In another update – The Center is unlikely to offer tax incentives for the issuance of its first green bonds in the second half of the current fiscal year, as it believes that investor interest in them comes from corporate green promises and funds, rather than profit motives. Rupee-denominated bonds, through which the government plans to raise Rs 20,000 crore-Rs 25,000 crore, will carry a slightly lower coupon rate than comparable government securities. The yield on 10-year G-secs is now around 7.2%. On to other developments – Even though the railroad’s new policy on land royalties paved the way for the privatization of Container Corporation, the transaction will likely only bear fruit in the next fiscal year. Indeed, it is difficult to complete all the processes by March 2023. The divestment, the process of which was to start early this year, has been delayed due to the delay in rolling out the new LLF policy. The Investment and Public Assets Management Department will consider the changes to the LLF policy which will be operationalized in three months and seek feedback from investors, before launching expressions of interest. According to a senior official, these processes leading to the conclusion of the transaction could take up to a year. Under the new policy approved by the Cabinet Committee on Economic Affairs last week, the LLF will be 1.5% of the land value of new plots of land for the establishment of freight businesses, down from 75% from now on. In addition, the term of the lease will be 35 years, instead of five years. In another development – Tata Motors is likely to recruit investors for its new wholly-owned mobility subsidiary, TML Smart City Mobility Solutions, to secure funds to fulfill orders from various state governments under tenders for electric buses. The company has already secured orders for 3,600 electric buses as part of the call for tenders for 5,450 e-buses launched by Convergence Energy Services, supported by the Centre. With an average price of an electric bus ranging between Rs 1.5 crore and Rs 2 crore, the new subsidiary of Tata Motors would need around Rs 5,400 crore to Rs 7,200 crore to purchase the 3,600 e-buses. TSCMSL will not only operate and maintain these buses, but will also have to buy and own them, which has never been done by Tata Motors so far. As the contract to operate these buses would be for 12 years, in some cities where Tata Motors won the contract, this new company will be asset-rich whose balance sheet will reflect all the buses. Meanwhile, Infosys has signed a five-year agreement with Spirit AeroSystems, a leading manufacturer of aerostructures for commercial aircraft, defense platforms and business/regional jets, to provide aerostructure engineering services and systems for commercial, business and emerging aircraft product development and maintenance, repair and overhaul services. This collaboration builds on a 16-year long-standing relationship between the two, during which Infosys provided innovative design solutions for some of Spirit’s aerostructure programs. As part of this commitment, Infosys will offer end-to-end product development services, including design engineering, sustaining engineering, manufacturing engineering, repair and maintenance. Finally – With the receding monsoons and the resumption of construction activities, cement manufacturers could opt for price increases by mid-September in eastern India and early October in some other regions. In August, pan-India average prices corrected by around 2% on a monthly basis, while a drop in petroleum coke prices – which are now cheaper than imported coal – would help improve their profitability. Brokerage firm ICICI Securities said in a report that cement companies had raised prices by 15 to 20 rupees per bag in eastern and western India, effective September 6, with the possibility of a further rise of 15 rupees per bag in the east by mid-September. They are expected to increase prices in the northern and central regions from the first week of October. You were listening to the Expresso Business Update by The Indian Express and The Financial Express. Have your digital assistive device read the latest Indian Express business news and stay abreast of happenings in financial and business stories. Click here to listen to yesterday’s Business News

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