Here is a collection of the most important stories this evening:
Paytm buyback: The good, the bad, and the ugly
The Paytm share buyback plan triggered much head-scratching in newsrooms and in the investing community. Journalists are asking if this is a good use of capital. If the investor has given you money to grow your business, what’s the point of returning value when the stock is down by three-quarters?
Read here to know more
Weeks before Budget, CEA Nageswaran warns govt capex can't keep rising at same pace
Capital expenditure by the public sector cannot keep increasing as rapidly as it has in recent years, Chief Economic Adviser V Anantha Nageswaran has said. The comments by Nageswaran come at a time when expectations are that the Centre may keep pressing hard on the capex pedal in the Budget for 2023-24, set to be presented in Parliament on February 1 by Finance Minister Nirmala Sitharaman, who incidentally said last month that the government would "continue to keep pushing on capital expenditure".
Read here to know more
Taking Stock | Nifty around 18,500, Sensex falls 389 points as IT stocks tumble
After briefly pausing for a day, the market again witnessed profit booking with benchmark indices slipping 0.6 percent on December 9 mostly dragged by the IT majors, with HCL Technologies' management indicating that FY23 revenue growth will be at the lower end of earlier guidance. At close, the Sensex was down 389.01 points or 0.62 percent at 62,181.67, and the Nifty was down 112.70 points or 0.61 percent at 18,496.60.
Read here to know more
CPI inflation may have hit 9-month low of 6.4% in November, October IIP down 0.4%
India's headline retail inflation likely dropped to a nine-month low of 6.4 percent in November, according to a Moneycontrol poll of 19 economists. The Ministry of Statistics and Programme Implementation will release retail inflation data for October at 5.30 pm on December 12.
Read here to know more
PM Modi to skip annual summit with Putin over Ukraine nuke threats
Indian Prime Minister Narendra Modi won’t be holding an annual in-person summit with Vladimir Putin after the Russian president threatened to use nuclear weapons in the war in Ukraine, according to people with knowledge of the matter.
Read here to know more
Yes Bank gets RBI letters, gears up to engage with CA Basque Investments, Verventa
Private sector lender Yes Bank on December 9 said it has received two letters from the Reserve Bank of India pertaining to its deals with CA Basque Investments and Verventa Holdings Limited. The bank plans to engage with the investors to complete its fund raising. “Pursuant to this, the bank shall now engage with the investors for the completion of the proposed capital raise, subject to various regulatory compliances and conditions precedent as per the respective investment agreements,” Yes Bank said.
Read here to know more
V-Guard to acquire Sunflame Enterprises for Rs 660 crore; stock rises over 4%
Electrical goods manufacturer V-Guard Industries on December 9 said it has entered into an agreement to acquire a 100 percent stake in kitchen appliances company Sunflame Enterprises for Rs 660 crore, on a cash-free, debt-free basis, subject to closing adjustments. Shares of V-Guard jumped 4.19 percent to close at Rs 259.80 apiece on BSE after the acquisition announcement.
Read here to know more
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
