The broader indices almost mirrored their larger peers. All the 19 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Metal gaining 7.62%.
The market breadth was skewed in the favour of bulls. About 2,627 stocks advanced, 715 declined and 120 remained unchanged.
Allows export of wheat consignments handed over to customs and registered in their systems prior to May 13, 2022.
Allows a wheat consignment for Egypt, following a request by the Egyptian government. Consignment was under loading at Kandla port.
The relaxation comes after the government imposed a ban on wheat exports on May 14, 2022, with immediate effect.
Source: Ministry of Commerce & Industry
Bombay Stock Exchange has appointment SS Mundra, Public Interest Director as the Chairman of the Board of Directors of the company.
The appointment follows the board approval on Monday and is subject to approval by SEBI.
SS Mundra retired as Deputy Governor of Reserve Bank of India on July 30, 2017, after completing a stint of three years.
Source: Exchange filing
Paradeep Phosphates Subscription Status: Day 1 Live Updates
The 8% lower debut of LIC shares is a commentary on the current state of global markets rather than the company itself. In terms of subscription, the LIC IPO was extremely successful given the fact that it was the biggest IPO of India. LIC has a solid business, trusted brand, and market leadership in an underpenetrated insurance market. In FY-21, LIC’s market share was about 75% for individual policies and 81% for group policies. It is the top life insurance company by a wide margin.Mohit Ralhan, Managing Partner, TIW Capital Group
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
NSE Nifty Metal rose nearly 5.9% in intraday trade, the most in 11 weeks.
The metal index gained 6.3% on Feb. 25, a day after Russia launched the invasion of Ukraine, spurring volatility in metal and commodity prices.
All the 15 constituents of the index rose in today's session, with Vedanta and Hindalco rising over 9%.
The Nifty Metal index is the top sectoral gainer.
Source: Bloomberg
The S&P BSE MidCap underperformed its larger peers, rising 1.40% and S&P BSE SmallCap almost mirrored Sensex and Nifty. All the 19 sectoral indices compiled by BSE Ltd. advanced, with S&P BSE Metal gaining over 6%.
The market breadth was skewed in the favour of bulls. About 2,462 stocks advanced, 762 declined and 121 remained unchanged.
WPI inflation rose to 15.08% in April compared to 14.55% in March 2022.
Source: Ministry of Commerce & Industry
Shares of Fine Organic Ltd. gained as much as 7.8%, the most in at least 11 weeks.
The stock was the best performer among peers.
Of the 10 analysts tracking the company, four each maintain 'buy' and 'hold' and two recommend 'sell'. The overall consensus price of analysts tracked by Bloomberg implies an downside of 6.8%.
Pidilite Industries
Granules India
TeamLease
Lupin
Tata Power has entered into a strategic partnership with Hyundai Motor India Limited to build a EV charging network.
Under the partnership, Tata Power will install Tata Power EZ Charge fast chargers at Hyundai's existing 34 EV dealer locations across 29 cities along with supply, installation, and commissioning of home charging for Hyundai's EV customers.
Shares of Aditya Birla Capital rose over 4.5%, the most in this week so far.
The company said an independent committee investigating a whistleblower complaint did not find any merit in allegations made against Aditya Birla Sun Life and its employees.
Trading volume is twice the 30-day average. All 10 analysts tracking the company maintain 'buy'. The return potential of the stock is 53%.
Source: Exchange Filing, Bloomberg
LIC Shares Gain After Listing At 8.6% Discount To IPO Price
LIC's pre-market price at Rs 867.2 apiece on the BSE, a discount of 8.6% to its IPO price of Rs 949.
On the NSE, the stock is at Rs 872 apiece, a discount of 8.1%.
Source: BSE, NSE
MacquarieInitiates coverage of LIC with 'neutral', target price set at Rs 1,000, compared to the IPO price of Rs 949.
Volatility in Embedded Value remains a worry.
Important for the company to diversify the product mix in favour of high margin non-par products.
Company's market share in individual business (retail) has fallen due to lack of diversified product portfolio.
Sees several challenges for LIC in scaling up the non-par business.
Believes that any investor who is taking an exposure to LIC is indirectly taking an exposure to equity markets and its inherent volatility.
Estimates a 10% fall in equity markets can erode the Embedded Value of LIC by 7% compared to 1-2% for its private sector peers.
Initiates coverage of LIC with 'neutral', target price set at Rs 1,000, compared to the IPO price of Rs 949.
Volatility in Embedded Value remains a worry.
Important for the company to diversify the product mix in favour of high margin non-par products.
Company's market share in individual business (retail) has fallen due to lack of diversified product portfolio.
Sees several challenges for LIC in scaling up the non-par business.
Believes that any investor who is taking an exposure to LIC is indirectly taking an exposure to equity markets and its inherent volatility.
Estimates a 10% fall in equity markets can erode the Embedded Value of LIC by 7% compared to 1-2% for its private sector peers.
LIC To Make Market Debut With Over 40 Lakh Shareholders
India's stock benchmarks opened higher after snapping a six-day losing streak on Monday. Metals, oil and gas and energy stocks aided the advance.
The S&P BSE Sensex rose 0.64% to 53,313.57. The NSE Nifty 50 also advanced by similar magnitude to 15,948.75.
The S&P BSE MidCap almost mirrored its larger peers while S&P BSE SmallCap outperformed, gaining 0.8%. All the 19 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Metal rising 3%.
The market breadth was skewed in the favour of bulls. About 1,741 stocks advanced, 464 declined and 70 remained unchanged.
LIC To Make Market Debut With Over 40 Lakh Shareholders
Shares of firms linked to the global wheat industry are in focus. This comes after wheat surged to near record high after India restricted exports.
In Focus: ITC, Britannia, Adani Wilmar, Kovilpatti Lakshmi Flour Mills.
Source: Bloomberg
SJVN: The company has signed a memorandum of understanding for development of 490 MW Arun-4 project in Nepal.
Aditya Birla Capital: The company said an independent committee investigating a whistleblower complaint did not find any merit in allegations made against Aditya Birla Sun Life and its employees.
KEC International: The company has received new orders of Rs 1,147 crore across its various businesses.
Kajaria Ceramics: The company has begun commercial production of ceramic floor tiles and vitrified tiles in manufacturing facilities in Gailpur, Rajasthan, and Chittoor, Andhra Pradesh, respectively.
Steel Exchange India: The company approved the proposal of splitting equity shares from face value of Rs 10 to Rs 1 each.
Max Healthcare Institute: Approves merger of units Alps, Max Hospitals
GSK Pharma Q4 FY22 (Consolidated, YoY)
Revenue up 8.76% at Rs 809.63 crore
EBITDA up 11.83% at Rs 175.22 crore
EBITDA margin 21.64% vs 21.05%
Net profit up 8,400% at Rs 1,219.05 crore
Recommended dividend of Rs 90 per share
Multi Commodity Exchange of India Q4 FY22 (Consolidated, QoQ)
Revenue up 18.8% at Rs 106.46 crore
EBIT up 60% at Rs 50.50 crore
EBIT margin 47.44% vs 35.23%
Net profit fell 5% at Rs 36.53 crore
Recommended final dividend of Rs 17.4 per share
Raymond Q4 FY22 (Consolidated, YoY)
Revenue up 43% at Rs 1,958.1 crore
EBITDA up 84% at Rs 284.40 crore
EBITDA margin 14.52% vs 11.33%
Net profit up 366% at Rs 263.31 crore
Recommended dividend of Rs 3 per share
PDS Q4 FY22 (Consolidated, YoY)
Revenue up 57% at Rs 2,775.43 crore
EBITDA up 6.2% at Rs 102.94 crore
EBITDA margin 3.71% vs 5.5%
Net profit up 27.87% at Rs 77.13 crore
Recommended final dividend of Rs 23.85 per share
Acquires 15% of Norlanka Brands for Rs 38.19 lakh
Stock Market Today: All You Need To Know Going Into Trade On May 17