Sensex slips 537pts on weak global cues, Nifty holds 17K; Bajaj Fin dips 7%

CLOSING BELL: Life Insurance Corporation of India (LIC) will come out with its IPO on May 4

1:19 PM

LIC Chairman on LIC IPO: Attractive valuations for maximum retail participation

LIC will transform itself into 3.0 now. We have kept valuations attractive for maximum retail participation and strive to launch new products as per demand environment.

1:03 PM

LIC IPO Press Conference:: IPO will not crowd out capital, monetary supply

Tuchin Kanta Pandey, DIPAM Secy, on LIC IPO:

• Govt had a strong commitment to list LIC
   
• Listing LIC is a long-term strategic vision of govt
   
• Expect significant retail participation in LIC IPO
   
• The issue is of the right size
   
• IPO to be biggest in India despite reduced offer size

1:02 PM

Mega LIC IPO opens next week; check details here

• IPO anchor book opens on May 2
• IPO book opens on May 4 and closes on May 9
• Issue size: Rs 20,557 cr
• Price band: Rs 902-949 per share
• Policyholders to receive discount of Rs 60/share
• Retail and employees to get Rs 40/share discount

12:53 PM

Alert: LIC IPO Live Press Conference

"We have planned to launch the LIC IPO now because of solid anchor book, reducing volatility, strong domestic flows. While global sentiments are weak, Indian markets are resilient due to strong domestic inflows. We expect strong retail participation in the IPO." - DIPAM Secy

12:46 PM

Trading strategies for SBI Life, ICICI Pru, HDFC Life ahead of LIC IPO

Except for Max Financial Services other insurance related shares seem to be on a weak ground, indicate technical charts. READ MORE

12:29 PM

Sensex 30 Heatmap: Bajaj Finance cracks, RIL holds fort

12:19 PM

Market Check:: S&P BSE Sensex languishes near the lows of th day

12:09 PM

BSE 500:: Top losers so far

Bajaj Finance, Atul Auto, Tata Elxsi, Mindtree and MRPL were some of the major losers in trade so far.

11:57 AM

BSE 500:: Top gainers so far

Adani Power, Alok Industries, Shipping Corporation of India, Mahanagar Gas and Petronet LNG were some of the prominent gainers in trade so far.

11:49 AM

Markets regulator Sebi tightens broker norms; customer caution is byword

Thirty-four brokers have defaulted since March 2018, including three year-to-date, according to the data available on the National Stock Exchange’s website. Broking industry sources say these defaults are mostly the result of misuse of client securities and funds by brokers earlier. READ MORE

11:36 AM

India Inc plans greater capex push in FY23, says CEO survey by BS

More than half the CEOs surveyed say they plan to increase investment by over 25 per cent. READ MORE

11:24 AM

Tata Group approaches CCI for merger between Air India and AirAsia India

The two combined entities, Air India and AirAsia India will have a 15.7% share of India's domestic passenger market. READ MORE HERE

11:14 AM

US stock futures firm; hint at recovery for Wall Street Thursday

source: finance.yahoo.com

11:07 AM

Bajaj Finance slips 5% despite strong Q4FY22 results

Brokerage firm Motilal Oswal Financial Services expects net interest margins (NIMs) to compress in FY23 due to yield pressure and higher borrowing cost. READ MORE HERE

11:00 AM

Asian markets: Hong Kong, Chinese indices erase day's losses, slip in green

source: finance.yahoo.com