F&O expiry: Nifty ends April series above 17,200; Sensex gains 702 pts

CLOSING BELL: 26 of the 30 Sensex constituents and 45 of the 50 Nifty constituents ended the day in the green led by HUL, HDFC Life, SBI Life, Asian Paints, UPL, PowerGrid, L&T, NTPC, SBI, and Infosys

12:21 PM

Global Markets Check:: UK, UK futures up smartly

Source: Investing.com

12:12 PM

Mahindra Lifespace shares rally nearly 8% after earnings announcement

Its consolidated total income stood at Rs 408.2 crore in the last fiscal, against Rs 187.8 crore FY21, according to a regulatory filing. READ MORE

12:03 PM

LIC IPO :: Issue offers value to investors with a long-term view

Retail investors and policyholders will get some more benefits for applying for the IPO, company has fixed the discount of ₹45 for retail investors and ₹60 for policyholders. So the effective price for retail investors will be ₹904 and for policyholders, it will be ₹889. 

 

At the offer band, the LOC IPO is valued at a Price/Embedded value of 1.06-1.1 its Sep’21 EV of Rs. 539,686 crore which is at a significant discount to listed private life insurance companies which trade at P/EV of 2.5-3.9x their Dec’21 EV. While HDFC Life Insurance is trading at a P/EV of 3.9x SBI Life and ICICI Pru Life trade at 3.2x and 2.5x their Dec’21 embedded value. While LIC valuations appear to be cheap as compared to listed private players investors need to keep in mind that LIC has a lower VBN margin of 9.9% in FY2021 as compared to private players who have VNB margins of 22-27% due to higher share of participation & group product. Despite lower margins and inferior business mix, we believe that the IPO is being priced reasonably and offers value to investors with a long-term view.

Views by: Yash Gupta- Equity Research Analyst, Angel One

12:03 PM

Asian Markets Update:: Japan's Nikkei rallies nearly 2%

11:51 AM

BSE 500:: Top losers so far

Network 18 and TV18 Broadcast have tumbled over 11 per cent each. La Opala RG, Tata Tele Maharashtra and IIFL Finance were the other major losers so far.

11:41 AM

BSE 500:: Top gainers so far

KIOCL has zoomed 10 per cent, and TTK Prestige has soared 8.5 per cent. JM Financial, MRPL, Vaibhav Global and Godrej Agrovet were the other major gainers.

11:30 AM

Sensex 30 Heatmap:: HUL, RIL lead

11:19 AM

Damani eyes partners for Ambuja Cements buy; may invest up to Rs 10,000 cr

Radhakishan Damani, the billionaire investor and promoter of Avenue Supermarts, which owns and operates the DMart chain of retail stores, is planning to join hands with other potential bidders to invest up to Rs 10,000 crore in Ambuja Cements as a financial partner. Read here

11:06 AM

The stock of this edible oil company has zoomed 86% in last four days

Shares of Poona Dal & Oil Industries hit a record high of Rs 103.15 and were locked at the 10% upper circuit on the BSE. READ MORE HERE

11:01 AM

HUL better placed to fight inflation; negatives priced-in stock: Analysts

While analysts see near-term margin compression, on expected lines, due to rise in commodity prices, they believe HUL is relatively better placed to fight the inflation woes. READ MORE HERE

10:57 AM

ALERT: Bank of Japan leaves bond buying plans unchanged; yen sees sharp slide

10:45 AM

Axis Bank abuzz ahead of Q4 results

10:36 AM

Bajaj Auto declines over 1% despite strong Q4 results

10:28 AM

Paint stocks edger higher despite mild cool off in Brent crude to $103 a barrel

10:21 AM

Sugar stocks sweeten market mood