Markets may remain volatile; RIL, Yes Bank, Zee in focus

Asian shares were steady on Friday, indicating that indebted developer China Evergrande Group could meet a key payment deadline. Treasuries trimmed a drop, driven by inflation concerns.

Equities rose in China, Hong Kong and Japan. Local media said that Evergrande moved interest on the one-dollar bond before the end of the closely watched period. The yen weakened, the offshore yuan rose and the Australian dollar strengthened on the report. Concerns are swirling about a possible transition from any lapse by the firm.

Major companies Reliance Industries, Hindustan Zinc, HDFC Life Insurance, Tata Consumer Products and Yes Bank will release their September quarter results.

Zee Entertainment Enterprises Ltd on Thursday agreed to consider Invesco’s demand to convene a special shareholders’ meeting, after a nudge from the Bombay High Court, after the court assured that the results would be put on hold for a week, during which he can review the validity. Among the proposals recommended by US fund manager.

Indian Hotels Company Ltd (IHCL) on Thursday said it plans to buy 40% stake in those not owning in-unit Roots Corp Ltd, which runs the Ginger brand of economy hotels. ₹500 crores.

The initial public offering (IPO) of FSN E-Commerce Ventures Ltd., which owns Nykaa, will open for subscription on October 28 and close on November 1.

The 10-year US Treasury yield has risen but remains high for the week. The Federal Reserve is close to slashing bond purchases and traders are betting on raising rates to ease price pressure. Market-implied expectations for inflation have reached multi-year highs. Dollar ticked down.

Global stocks are set for a third weekly advance, helped by the ongoing global recovery from the health crisis. The rally is being overshadowed by the prospect of monetary policy tightening faster than expected to curb inflation due to energy shortages and crumbling supply chains.

(Bloomberg contributed to the story)