Paramount has gone hostile bid for Warner Bros. Discovery, challenging Netflix which reached a $72 billion takeover deal with the company just days ago.
Indian markets opened muted, with Nifty hovering near 26,000 as momentum cooled post-record highs. Broader markets face strain, prompting caution. Analysts suggest Nifty will consolidate between 25,850 and 26,300. Investors are advised to be selective, buying dips and booking profits, with HDFC Life and BPCL identified as strong performers.
Reliance Powers shares declined as the Enforcement Directorate filed a chargesheet in a fake bank guarantee case, weighing on investor sentiment and drawing renewed attention to the companys ongoing legal challenges.
Investors are closely watching sectors like banking, manufacturing, auto distribution, and aviation after a recent rate cut. Analysts see temporary margin pressure for banks and potential opportunities in auto distribution. However, aviation faces further challenges. Digital platforms are preferred over insurers. Domestic institutions are buying IT stocks as foreign investors sell.
IndiGo faces significant financial headwinds due to widespread flight cancellations extending through December, impacting revenue by an estimated 5-7%. The airline is also grappling with increased pilot costs due to new regulations. Analysts, however, view this as a temporary operational blip, with operations expected to stabilize within weeks.
