In the dollar bond market, Evergrande accounts for 4% of Chinese real estate high-yields, according to DBS. Any defaults will also trigger sell-offs in the high-yield credit market. A collapse of Evergrande will have a large impact on the job market. It has 200,000 staff and hires 3.8 million people every year for project developments.

As of 30-Jun-2021, promoters held 55.99 per cent stake in the company, while FIIs held 17.35 per cent and domestic institutional investors had 13.19 per cent.

A retreat for the Nifty, trading at about 35% above its historical trend level, would reduce GDP by 1.4% in the same quarter of the shock and by 3.8% over the following year, Ankur Shukla, an economist with Bloomberg Economics, wrote in a separate note.

“The government announcements allow Vodafone Idea to just remain as a player in the industry. They will still be fragile and gradually lose market share to the other two operators.”

In the spot market, highest purity gold was sold at Rs 47,255 per 10 gram while silver was priced at Rs 63,081 per kg on Wednesday, according to the Indian Bullion and Jewellers Association.

“The telecom package is short term relief and a positive trigger for Vodafone but it remains to be seen how quickly they are able to raise money and get the traction back on their subscribers.”

Tata Motors Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 102746.92 Crore) operating in Auto sector.

The stock traded at a P/E multiple of 30.67, while the price-to-book value ratio stood at 0.0.

Analysts said the relief package is focused on annual cash outflow deferral for telcos, which provides the much-needed relief to Vodafone Idea. It is a forward-looking one, they said, the package also included long-term measures such as the elimination of SUC on future spectrum purchases, a change in AGR definition and reduction in bank guarantees.

The stock quoted a 52-week high of Rs 3226.05 and a 52-week low of Rs 2311.3.