Stock Market LIVE: GIFT Nifty Hints At Negative Open; Bajaj Housing, Triveni Engineering, HCC Shares In Focus
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Citi Research Projects Over 50% Upside Potential For LIC Despite Slashing Target Price
Citi Research slashed Life Insurance Corp's target price despite the company reporting strong numbers for the July–September. It reduced the target price to Rs 1,354 from Rs 1,370 apiece. The current target price implies a 51% upside potential from Thursday's close price.
The brokerage maintained a buy rating on the stock. It will monitor market share stabilisation in individual annualised premium equivalent for any re-rating.
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Citi Research Projects Over 50% Upside Potential For LIC Despite Slashing Target Price — Here's Why
Gold Price Advances To Rs 1,21,090 Levels
Gold prices in India stood at Rs 121,090 on Friday. Gold held steady as traders assessed remarks from Federal Reserve officials alongside data revealing a sharp slowdown in the US labor market, heightening expectations for lower interest rates.
IPO News: Shares Of Studds Accessories To Debut On Dalal Street Today
Shares of Studds Accessories Ltd. will be in focus as investors await the debut of the helmet manufacturer on the stock market on Friday, November 7.
The initial public offering (IPO) of Studds Accessories, which opened for subscription on Thursday, October 30, closed on Monday, November 3 with a robust response from investors. The mainboard offer was booked over 73 times on Monday, with investors bidding for 39,92,36,150 shares against the 54,50,284 on offer.
Asia Markets LIVE: Japan's Nikkei 225 And South Korea's KOSPI Fall
Markets in most regions in Asia declined early trade Friday mirroring overnight moves on Wall Street. US stock indices declined on weak job data and concern over artificial intelligence stocks' valuation.
The Nikkei 225 and KOSPI were trading 1.90% and 1.29% down, respectively as of 7:18 a.m.
LIVE: GIFT Nifty Hints At Negative Open; Bajaj Housing, Triveni Engineering, HCC Shares In Focus
The GIFT Nifty was trading 0.11% or 28.50 points lower at 25,511 as of 6:56 a.m., which implied a slight lower open for the benchmark index.
Bajaj Housing Finance Ltd., Triveni Engineering Ltd., HCC Ltd., Mankind Pharma Ltd., NHPC Ltd., ABB India Ltd. shares will likely be in focus for second-quarter earnings.
The NSE Nifty 50 and BSE Sensex declined for a second session as Grasim Industries Ltd. and Hindalco Industries Ltd. shares weighed. The indices closed 0.34% and 0.18% down, respectively at close.
