stock talk

Indian retail industry is one of the fastest growing in the world. As per Forrester Research, in 2020, India's retail sector was estimated at US$ 883 billion, with grocery retail accounting for US$ 608 billion.

The key Indian equity indices traded in the positive territory on Thursday morning with the BSE Sensex rising over 200 points. IT stocks witnessed healthy buying so far, while heavy selling in oil and gas and power stocks capped the gains. Around 10.07 a.m., Sensex was trading at 52,517.27, higher by 211.19 points or 0.40 per cent from its previous close of 52,306.08.

The IT industry accounted for 8% of India’s GDP in 2020. Exports from the Indian IT industry are expected to increase by 1.9% to reach US$ 150 billion in FY21. In 2020, the IT industry recorded 138,000 new hires.

The emerging economy and changing lifestyles of Indian consumers have been leading to growth of home appliances industries. The main growth drivers for this industry are increased affordability, focus on energy-efficient products, increasing digital penetration, and the rise in aspiration.

According to a survey by CBRE on India’s construction cost trends, the industry is likely to witness increased investment in technology oriented construction such as use of prefabricated and modularised components including others.

KKR, a leading global investment firm, and Vini Cosmetics, a leading branded personal care and beauty products company on Monday announced the signing of a definitive agreement pursuant to which the Company's Founder Group will sell a majority stake in the Company to KKR for approximately $625 million (Rs 46 billion).

The Adani Group stocks also have the same set of foreign portfolio investors among the big shareholders in that category. Albula Investment Fund, Cresta Fund and APMS Investment Fund holding shares in Adani Group Companies were in a controversy yesterday on reports that their share accounts were frozen but was later clarified that they are active.

Globally, stocks clung close to record highs as investors weighed inflation concerns ahead of key monthly US jobs report scheduled for release on Friday, while oil prices rose for a third straight session. However, European stock markets opened in the red after reports emerged that the UK is considering to delay the final stage of reopening by two weeks if hospitalizations and deaths increase.

At 11.50 a.m., the S&P BSE Sensex traded at 49,921.61, higher by 18.97 points, or 0.04 per cent, from its previous close. Similarly, the Nifty50 of the National Stock Exchange traded at 15,014.25, up by 15.90 points, or 0.11 per cent, from its previous close. Besides, both the key indices started on a positive note with a gap up opening, however, ceding their initial gains soon afterwards.

However, optimism over lower Covid-19 cases as well as hopes on faster vaccination drive arrested any major decline. Among sectors, realty, power and healthcare were the main gainers while telecom, metals, banks and auto were the main losers. Globally, stocks slipped and cryptocurrencies sank as threat of unwanted inflation had investors shy away from assets seen vulnerable to any removal of monetary stimulus.