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Category: Sensex

  • As the anchor investor lock-in period expires, the LIC falls 4%, or 28%, from its issue price

    As the anchor investor lock-in period expires, the LIC falls 4%, or 28%, from its issue price

    In intra-day trade on Monday, shares of Life Insurance Corporation of India (LIC) fell 4% to Rs 681.70 on the BSE, with the lock-in period for anchor investors expiring on Monday, June 13 The share price of the state-owned insurance behemoth has dropped by 28% from its IPO price of Rs 949 per share. Retail investors were given shares for Rs 905 each at the time of the IPO, while policyholders were given shares at Rs 889 each The stock was trading at its lowest level since its initial public offering on May 17, 2022. It fell for the tenth trading day in a row, down 19% since the beginning of the year. Since its IPO, LIC’s market capitalization has dropped by Rs 1.2 trillion. The stock was down 3% at Rs 688.20 at 09:44 a.m., vs a 2.7 percent drop in the.





    LIC raised Rs 5,627 crore from anchor investors, with domestic mutual funds accounting for 71% of the total.

    The state-owned insurance company distributed almost 59.3 million shares to 123 individuals for Rs 949 each Anchor investors are well-known institutional investors who are given shares in a company before it goes public (IPO). Anchor investors will be able to sell their current shares on the market after the lock-in period expires. Nearly 1% of LIC’s 3.5 percent free float is held by anchor investors LIC is India’s sole public sector life insurance business, with private life insurance firms as its main rivals.




    Analysts say that private sector insurance businesses have grown quicker and gained market share than LIC, with no guarantee that LIC would not lose market share in the future. Emkay Global Financial Services analysts commenced coverage on LIC with a ‘hold’ rating and a target price of Rs 875, which is up roughly 12% from current levels market leadership and comfortable valuations remain attractive to analysts, but they favor private-sector counterparts with greater growth and profitability prospects, resulting in higher.

  • The Sensex Drops 236 Points In Turbulent Trade, Reversing Early Gains

    The Sensex Drops 236 Points In Turbulent Trade, Reversing Early Gains

    On Tuesday, equity indices failed to hold onto their morning gains, with the Sensex dropping 236 points due to a sell-off in information technology firms and negative global market trends The opened higher but was unable to maintain its gains, falling 236 points, or 0.43 percent, to 54,052.61. It traded between 53,886.28 and 54,524.37 during the day. The broader NSE Nifty ended at 16,125.15, down 89.55 points, or 0.55 percent Among the Sensex pack’s biggest laggards were Tech Mahindra, Hindustan Unilever, HCL Technologies, Asian Paints, NTPC, Tata Steel, Infosys, Axis Bank.




    and Bajaj Finserv. Dr Reddy’s Laboratories, HDFC, Power Grid Corporation of India, Kotak Mahindra Bank, HDFC Bank, and Nestlé, on the other hand, were among the biggest gainers Hong Kong, Shanghai, Seoul, and Tokyo all finished lower in Asia. In the afternoon, European exchanges were also trading down. On Monday, US stock markets finished higher Brent crude, the international oil standard, fell 0.46 percent to $112.9 per barrel According to stock market data, foreign institutional investors continued their selling binge on Monday, offloading shares worth a net Rs 1,951.17 crore.

  • Gokaldas Exports rises 9% to an all-time high, indicating a positive business outlook

    Gokaldas Exports rises 9% to an all-time high, indicating a positive business outlook

    On the back of a positive business outlook, Gokdaldas Exports’ stock hit an all-time high of Rs 505.65 on the BSE in intra-day trade on Wednesday The company’s stock, which is in the textiles and apparel business, has surpassed its previous high of Rs 488, which it reached on May 5, 2022. It has outpaced the market by 30 percent in the last month, compared to a 4 percent fall in the Gokaldas Exports achieved the greatest quarterly performance for the January-March quarter (Q4FY22), thanks to a growing order book and the ability to weather supply chain hiccups.




    In Q4FY22, the company’s consolidated profit after tax (PAT) more than doubled to Rs 61 crore, up from Rs 16 crore the previous quarter.

    Due to strong operating leverage, its consolidated earnings before interest, taxes, depreciation, and amortization (Ebitda) margin increased 170 basis points quarter over quarter and 365 basis points year over year to Revenue increased by 58% year on year (YoY) to Rs 588 crore, the largest quarterly revenue ever, compared to Rs 373 crore in Q4FY21. Export revenue grew by 58.3 percent year over year. According to the corporation, robust revenue growth was supported by deep interaction with key customers and capacity expansion Strong capacity expansion and a speedy ramp-up of production were the key drivers of growth. A higher operating profit was driven by increased volume, a better product mix, and enhanced operational efficiency. The company’s capacity to withstand production and supply chain disruptions is reflected in the year’s results, according to the company.





    For the entire fiscal year 2021-22 (FY22), consolidated profit after tax (PAT) increased by 342% year on year to Rs 117 crore, while operating revenue increased by 47.9% to Rs 1,790 crore. Ebitda’s margin increased 270 basis points to 12.0% from On the forecast, management stated that the order book for FY23 remains hopeful. Despite the predicted uncertainties from a combination of headwinds and tailwinds, the company sees growth potential in Continued global sourcing shift away from China, supplier consolidation towards efficient and well-capitalized players, supply-side instabilities in countries such as China, Vietnam, and Sri Lanka, strengthening Dollar, the announcement of Production Linked Incentive (PLI), and signing of free trade agreements (FTAs) with key markets are some of the opportunities.

  • Sensex Stops 6-Day Losing Streak With A 180-Point Gain; DMart Rallies 10%, ACC 4%

    Sensex Stops 6-Day Losing Streak With A 180-Point Gain; DMart Rallies 10%, ACC 4%

    On Monday, equity markets closed a bumpy day in the green, increasing for the first time in seven days, as global markets backed up the trade sentiment. The benchmark S&P BSE Sensex fluctuated between 796 points and 52,974 points, or 0.34 percent higher. On the other side, the NSE Nifty closed at 15,842, up 60 points or 0.38 percent The biggest gainers on the Sensex index today were NTPC, Bajaj Finance, Maruti Suzuki, SBI, HDFC, Kotak Bank, M&M, and IndusInd Bank, which rose between 1.6 and 2.9 percent.





    Ultratech Cement, Asian Paints, ITC, TCS, HCL Tech, Nestle, and Dr Reddy’s Labs were the worst performers, with losses ranging from The BSE MidCap and SmallCap indexes outpaced the benchmarks by 1.5 percent and 1.15 percent, respectively, in the wider market. The Nifty PSU Bank index was the best performer, up 3%, while the Nifty IT index was the poorest performer, down 0.75 percent.

  • Adani Wilmar is down for the eighth consecutive day, down 34% from its 52-week high

    Adani Wilmar's stock

    Adani Wilmar’s stock fell 5% to Rs 583.25 on the BSE on Tuesday, marking the eighth consecutive day of losses. For the fifth day in a row, the stock of Adani Group Company, which is in the edible oil business, has been stuck in a 5% lower circuit. After the company announced a mixed bag of results for the quarter ending March 2022, it fell 34% from its 52-week high of Rs 878 reached on April 28, 2022. (Q4FY22).

    On the NSE and BSE, a total of 781,497 equity shares changed hands until 10:41 a.m., with 2.73 million shares pending sell orders. The S&P BSE Sensex, on the other hand, was up 0.19 percent at 54,575 points.

    Adani Wilmar is currently listed on the BSE in the T group and on the NSE in the BE category. Each trade in the T2T and BE segments must result in delivery, and no intra-day netting of positions is permitted.

    Adani Wilmar is a joint venture between the Adani and Wilmar groups, and the Fortune brand is India’s top edible oil manufacturer. In addition to oil, the corporation sells wheat flour, rice, legumes, sugar, and packaged meals.

    Adani Wilmar had previously collected Rs 3,600 crore through an initial public offering (IPO) and launched on the stock exchanges on February 8, 2022. From its issue price of Rs 230 per share, the stock had risen 282 percent. However, on the day of the IPO, it hit an intra-day low of Rs 221.

    Adani Wilmar’s net profit for Q4FY22 declined 26% year on year (YoY) to Rs 219.2 crore, owing to higher tax burden. However, revenue from operations increased by 40.2 percent year on year to Rs 14,960.4 crore. “Inflation caused a decrease in rural demand,” the business explained.

    Analysts at KRChoksey Shares and Securities, on the other hand, feel that Adani Wilmar’s focus on growing its FMCG and packaged food businesses, as well as its shift to value added goods, will result in increased market share and margin expansion.

  • SBI Cards dips 5% as over 3% of equity changes hands via block deals on NSE

    Shares of SBI Cards and Payment Services dipped 5 per cent to Rs 836 on the National Stock Exchange (NSE) in Tuesday’s intra-day trade after over 3 per cent equity of the company changed hands at the counter via block deals.

    Till 09:21 am; around 31.9 million equity shares representing 3.37 per cent equity of SBI Cards changed hands on the NSE, the exchange data shows. The names of the buyers and sellers were not ascertained immediately.

    As per reports, private equity firm Carlyle Group was to sell its entire stake in the company for as much as Rs 2,558 crore via block trade. CA Rover Holdings, a Carlyle entity, as of December 2021 quarter, held 29.20 million shares or 3.09 percent stake in SBI Cards. The shares were to be offered at Rs 851.50-876.75 a piece, representing around 3 percent discount to Monday’s closing price.

    Earlier on September 21, 2021, CA Rover Holdings sold 32 million equity shares or 3.4 per cent stake of SBI Cards at an average price of Rs 1,021 per share on the NSE, data shows.

    Meanwhile, SBI Cards has underperformed the market by falling 23 per cent in the past six months, as compared to a 1.5 per cent rise othe Nifty50 index. However, in the last one month, the stock has outperformed by gaining 14 per cent as against a 12 per cent surge in the benchmark index. The stock hit a 52-week low of Rs 712.25 on March 7, 2022.

    At 09:35 am; SBI Cards traded 3 per cent lower at Rs 847.85, as compared to a 0.2 per cent decline on the Nifty50 index.

  • Sensex down 200pts, Nifty tests 18,000; RIL, HDFC twins weigh

    After a tepid start, the key benchmark indices were seen holding marginal losses in late morning trade-off the low of the day as gains in select IT and FMCG shares helped offset losses in financials.
    The BSE Sensex from an opening high of 60,786, had slipped to an intra-day low of 60,227. The index, however, was down around 200 points at 60,400-odd levels. The NSENifty was seen testing the 18,000-mark, down 50-odd points.
    Among the Sensex 30 shares, the HDFC and Bajaj twins along with Reliance Industries were the major losers, down 1-2 percent each. On the positive front, Titan, NTPC, Dr.Reddy’s, Mahindra & Mahindra, Hindustan Unilever, TCS, Maruti, and Nestle India were the prominent gainers, up 1-2 percent each.
    The broader markets, however, outperformed the benchmark indices by a large margin. The BSE Midcap index was up 0.8 percent, while the Smallcap index rallied 1.3 percent. The overall breadth too was fairly positive with nearly 2,300 stocks advancing, versus 913 declining stocks on the BSE so far.
    Sectorally, the BSE Consumer Durables, Power, Telecom and Auto indices were the strong gainers; whereas Bankex was the notable loser.

    Among other individual stocks, SBI Cards shed 4 percent on the BSE. As per reports, private equity firm Carlyle Group will sell its entire stake in the company for as much as Rs 2,558 crore.

    Moreover, Zomato, too, dropped 5 percent after the Competition Commission on Monday ordered a detailed probe against Zomato and Swiggy, for alleged unfair business practices with respect to their dealings with restaurant partners.

  • Sensex jumps over 300 points in early trade; Nifty above 17,300

    Equity benchmark Sensex surged over 300 points in early trade on Tuesday, following gains in index majors HDFC, Maruti Suzuki, and ICICI Bank amid a largely positive trend in global equity markets.

    Besides, a fall in international crude prices supported the market sentiment, traders said.

    The 30-share BSE barometer was trading 317.22 points higher at 57,910.71. Similarly, the broader NSE Nifty gained 93.45 points to 17,315.45.

    From the 30-share pack, UltraTech Cement, HDFC, Asian Paints, Bharti Airtel, Maruti Suzuki and ICICI Bank were the lead gainers.

    On the other hand, ITC, Tata Steel and NTPC were among the laggards.

    In the previous trade, the BSE barometer climbed 231.29 points or 0.40 per cent to settle at 57,593.49. The NSE Nifty recovered 69 points or 0.40 per cent to 17,222.

    Elsewhere in Asia, bourses in Tokyo, Seoul and Hong Kong trading in the green, while Shanghai quoted marginally lower during mid-session deals.

    Stock exchanges in the US ended with gains on Monday.

    Meanwhile, international oil benchmark Brent crude declined 1.30 per cent to USD 111.02 per barrel.

    Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 801.41 crore on Monday, according to stock exchange data.

  • Sensex, Nifty surrender early gains as boiling oil plays spoilsport

    Equity indices relinquished early gains to close in the red for the second straight session on Thursday as surging oil prices amid the ongoing conflict between Russia and Ukraine sapped risk appetite.

    Crude oil prices ratcheted up towards the USD 120 per barrel mark on fears of supply disruptions as western nations tightened sanctions on Russia, which accounts for around 10 percent of global oil output.

    A weakening rupee and persistent foreign fund outflows also weighed on sentiment, traders said.

    The 30-share BSE Sensex started the trade on a firm footing and jumped 527.72 points in morning deals to a high of 55,996.62. However, during the afternoon session, it surrendered all its early gains and finished at 55,102.68, down 366.22 points or 0.66 percent.

    UltraTech Cement was the biggest drag among the Sensex components, tumbling 6.47 percent, followed by Asian Paints, Dr. Reddy’s Laboratories, Maruti Suzuki India, Hindustan Unilever Limited, and ICICI Bank. Similarly, the broader NSE Nifty declined 107.90 points or 0.65 percent to close at 16,498.05.

    In contrast, PowerGrid, Wipro, Tech Mahindra, HCL Tech, ITC, Tata Steel, and Infosys were among the prominent gainers, climbing as much as 3.34 percent.

    “Domestic equity markets closed lower as the geopolitical scenario continue to worsen due to the Russia-Ukraine crisis. Soaring crude prices due to supply disruptions from Russian sanctions have further escalated the situation,” according to Mitul Shah, Head Of Research at Reliance Securities.

    Vinod Nair, Head of Research at Geojit Financial Services, said the release of strategic reserves of oil in India and abroad along with increased output Afrom OPEC is expected to ease crude prices in the future.

    “Additionally, the Indian market will look at the state elections exit poll data while the global market will track war developments, BoE and Fed policy meeting status from next week,” he noted.

    Among sectors, BSE auto dropped the most at 2.24 percent, followed by consumer discretionary goods and services, bank and capital goods, while utilities, power, and oil and gas mustered gains.

    The BSE midcap and smallcap indices ended on a mixed note.

    International oil benchmark Brent crude surged 2.75 percent to USD 116.03 per barrel.

    Bourses in Hong Kong and Tokyo settled with gains, while Shanghai was marginally lower.

    Stock exchanges in the US closed in the positive territory in the overnight session. European markets were mostly lower in the afternoon session.

    The rupee declined by 16 paise to close at 75.96 against the US dollar on Thursday.

    Foreign institutional investors continued their selling spree in Indian markets as they offloaded shares worth Rs 4,338.94 crore on a net basis on Wednesday, as per exchange data.

  • Market Highlights: Sensex rises 460 points, Nifty end above 17,600-mark after RBI keeps rates unchanged

    The benchmark equity indices on the BSE and National Stock Exchange (NSE) extended their gains for the third successive day, ending around 0.8 per cent higher on Thursday following the outcome of the Reserve Bank of India’s (RBI) monetary policy meeting where the central bank kept its key lending rates unchanged for the tenth consecutive time while maintaining an ‘accommodative stance’.

    The S&P BSE Sensex climbed 460.06 points (0.79 per cent) to settle at 58,926.03 while the Nifty 50 rose 142.05 points (0.81 per cent) to end at 17,605.85. Both the indices had opened with marginal gains earlier in the day.

    On the Sensex pack, Tata Steel was the top gainer of the day rising over 2 per cent, followed by Infosys, HDFC Bank, Housing Development Finance Corporation (HDFC), Kotak Mahindra Bank and Mahindra & Mahindra (M&M). On the other hand, Maruti Suzuki India, Nestle India, Ultratech Cement and Reliance Industries (RIL) were the laggards.