test-Top Market Highlights Of The Day – Nov 18th 2021


previous closing bearish  test Top Market Highlights Of The Day – Nov 18th 2021
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Market outlook

%name test Top Market Highlights Of The Day – Nov 18th 2021

UBS revises Indias GDP growth forecast to 9.5% from 8.9% for FY22

Global brokerage house, UBS, has revised India’s GDP growth for FY22 from 8.9% to 9.5%. UBS has cited faster-than-expected recovery, rising consumer confidence and the spending spike as key reasons for the upgrade. It estimates GDP growth at 7.7% for FY23 and at 6% for FY24. However, UBS sees the RBI hiking repo rates by 50 bps in FY23. GDP growth in the Jun-21 quarter was 20.1% while the GDP figure for Sep-21 quarter will be announced on 30-November. UBS India Activity Indicator showed 16.8% spike in Q2.

QSR chain, McDonald’s India, partnered with ITC

QSR chain, McDonald’s India, partnered with ITC to introduce fruit beverage, B-Natural into its new Happy Meal. This is available across West and South India. McDonalds completes 25 years in India. The idea is to make the food more wholesome and nutritious. The ITC fruit juice is considered to be a rich source of Vitamin-A and Vitamin-C. For ITC, this provides the much needed boost to make a mark in the FMCG segment with valuations consistently lagging that of HUL. McDonalds has reduced sodium content by 20%.

Vedanta sets up panel to recast firm, unlock value

Vedanta is exploring restructuring of the company, which could include demerger and listing of the aluminium, steel, copper and oil & gas businesses as standalone entities. Considering the recent spike in commodity prices, Vedanta believes that a standalone structure would result in better SOTP valuations. Once the restructuring is completed, the shareholders of Vedanta will automatically be allotted shares of all the individual companies. This is similar to the splitting exercise that Adani Group undertook in 2015.

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