Five things to watch out for today
November 30, 2017:
The Central Statistics Office will release the second quarter GDP growth data. It is widely expected that data will show economic activity has picked up on improving macroeconomic indicators across sectors. Growth had slid to a three-year low of 5.7 per cent for the three months to June on the spillover effects of the note ban and the GST implementation.
OPEC, Russia and nine other producers will meet in Vienna today to discuss extension of oil output cut beyond March 2018. The market largely expects OPEC to prolong cuts until end 2018 but Goldman Sachs has said that is uncertain as Brent oil has risen above $63 per barrel.
Xiaomi will unveil a new India-centric budget smartphone today. Xiaomi teasers don’t reveal much about the phone except that it promises long-lasting battery. Earlier this month, Xiaomi India had launched the selfiecentric Redmi Y1 and Redmi Y1 Lite smartphones.
Infosys’ ₹13,000-crore buyback offer will open today. The buyback, at ₹1,150/share, is the first in the company’s 36-year-long history. The company will buy back 11.30 crore shares under the offer that closes on December 14.
Former US president Barack Obama will arrive in New Delhi as part of a three-nation tour, including China and France. He is set to meet Prime Minister Narendra Modi today. The tour continues a longstanding tradition of former US presidents travelling overseas after leaving office.