Morning Buzz: India likely to get first $1 trillion market cap firm by 2032, Udaan valuation falls to $1.8 billion and more
Here are the top business headlines this morning to get your day started
India likely to get first $1 trillion market cap firm by 2032
RIL and HDFC Bank are top contenders for the first $1 trillion crown in the Indian stock market. To get there both firms will have to appreciate annually by 20 percent in the next decade and India achieving a profit to GDP ratio of 7 percent in the listed space. Bajaj Finance would have to maintain a 40 percent growth rate over the next decade to get there. RIL currently has the highest valuation at $213 billion.
(Business Standard)
Udaan valuation falls to $1.8 billion
The latest funding round has seen Udaan’s valuation fall to $1.8 billion from an earlier $3.2 billion in January 2021. Udaan is the second startup after Pharmeasy that has raised money at a significantly lower valuation than the previous round. Among startups only Swiggy has seen an increase in valuations in its recent round.(Economic Times)
India’s 10 year yield falls to 7.14 percent
India’s 10 year bond yield fell to a low of 7.14 percent due to better than expected inflation numbers and a lower current account deficit. India’s consumer price inflation in December was 5.69 percent versus an expectation of 5.9 percent. Traders expect bond yields to stay in this range but going below 7.10 percent will be difficult as it would be dependent on the US FOMC and RBI policy.Last Updated :
January 16, 24 09:58:21 AM IST