IGI Logo

Market Outlook

Indian markets are likely to open on a positive note tracking mostly positive Asian cues. Investors are bargain hunting amid sharp falls in the previous session.

Markets Yesterday

* Domestic markets ended lower on the back of losses across BFSI, auto and FMCG stocks, which were partially offset by gains in IT stocks on fears of aggressive central bank action and a possible global recession

* US markets ended lower tracking losses in technology stocks amid a continuous surge in value of the US dollar

Key Developments

* The record date for demerger transaction between Aarti Industries and Aarti Pharmalabs has been fixed on October 20, 2022. As part of the scheme of arrangements, shareholders of Aarti Industries will be issued one share of Aarti Pharmalabs for every four shares of Aarti Industries held

* The PVR management in a media interview indicated that it is on track to open 125 screens by investing | 400 crore in the current financial year (FY23). It also reiterated that it expects the advertisement to reach pre-Covid levels by Q4, which will boost margins. It informed that the merger process may close by February-March next year

* Infosys has informed the stock exchange that it has opened Infosys Digital Centre in Calgary, Canada. The new centre will bring 1,000 new jobs in Calgary over the next two years, double its commitment announced in 2021. The centre will train, upskill and reskill Infosys and its clients’ employees to help Canadian businesses in digital transformation

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html
SEBI Registration number INZ000183631

Above views are of the author and not of the website kindly read disclaimer