Sensex soars 1,345pts, Nifty tops 16,250; LIC ends 8% down at Rs 875 on BSE

CLOSING BELL: Shares of Life Insurance Corporation of India (LIC) listed at Rs 867.20 on the BSE, a 8.6 per cent discount when compared with its issue price of Rs 949 per share

12:51 PM

Asian Markets Update:: Hang Seng outperforms global peers

Source: Yahoo Finance

12:44 PM

After a surprise profit in Q3, IndiGo may report net loss in Q4: Analysts

IndiGo Q4 preview: InterGlobe Aviation, the parent company of low-cost carrier IndiGo airlines, is set to report its March quarter result on May 25. READ MORE

12:37 PM

Currency outlook

Rupee fell fresh all-time low as broader strength in the dollar continued and also as global crude oil prices continued to trade higher. Last week's inflation number  released on the domestic front and from the US came in higher that disturbed the overall market sentiment. We expect the momentum for the USDINR to remain positive and quote in the range of 77.40 and 78.20.

Views by: Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services

12:37 PM

PE firm Multiples picks up 9.3% stake in BDR Pharma for Rs 685 cr

Private equity firm Multiples has picked up a 9.3 per cent stake in BDR Pharmaceuticals International for Rs 685 crore. The funds will be used by the company to build additional research and development (R&D) capabilities in current and emerging areas, invest in manufacturing capacity expansion and enhance the degree of vertical integration. READ MORE

12:28 PM

BSE 500:: Top losers so far

CRISIL, TCNS Clothing, JK Paper, Mahindra Holidays and Varroc Engineering were some of the prominent losers so far down up to 3 per cent.

12:20 PM

BSE 500:: Top gainers so far

Vardhman Textiles has soared over 10 per cent so far. MRPL, Shyam Metalics, Sterlite Technologies and Intellect Design were the other major gainers, up over 8 per cent each. 

12:10 PM

Rupee hits fresh all time low as investors rush for safe haven assets

The Reserve Bank of India has beefed up its intervention in the currency market which slowed the pace of the fall. READ MORE

12:05 PM

BREAKING :: APRIL WPI INFLATION SOARS TO 15.08% FROM 14.55% MoM

12:03 PM

Second half of FY23 is likely to see higher earnings growth: Swati Kulkarni

We can see a possible earnings growth revival in the automobile sector if the raw material pressure softens and semiconductor availability improves. READ MORE

11:53 AM

BSE Sensex 30 Heatmap:: Tata Steel, ITC top gainers

11:47 AM

S&P BSE Sensex at day's high, up 1,000 pts

11:31 AM

US hopes India would 'reconsider' its decision to restrict wheat exports

The US hopes India will reconsider its decision to ban wheat exports, with Washington encouraging countries not to restrict exports. Read here

11:25 AM

Expert view on LIC debut: Long-term investors should hold the scrip

As observed, the majority of big IPOs have not given a strong listing debut gains.

Considering previous trends, LIC has continued to take the same path with listing at a discount of 8% from 949 to 872 at NSE on its listing day and is currently trading at 900-905 levels.

We believe that personal savings and awareness regarding insurance will increase enabling the sector to outperform in the long run and will indirectly benefit LIC as it is the market leader in this sector.

We feel long term investors should continue to hold the scrip, while short-term investors can wait to enter at a lower price.

Views by Mohit Nigam, Head - PMS, Hem Securities

11:16 AM

Byju's in talks to acquire US target, likely to bid for Chegg or 2U

The Indian education pioneer is the country's most valuable startup, with a valuation of $22 billion. Read here

11:03 AM

MARKET CHECK: Sensex extends day's gains; soars over 850 pts