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The majority of analysts are positive on the issue and have recommended subscribing to it. However, a few of them have a word of warning for investors. Market participants are optimistic about the company’s strong business profile and strong fundamentals, but say high pricing and stiff competition make it an aggressive bet for conservative investors. The company, which is likely to raise Rs 130.05 crore via its first stake sale, is selling 8,500,000 new shares in the price range of Rs 144-153 each.
BSE Smallcap index outperforms Sensex; here are the best winners and losers of the pack
NIFTY EXCEEDS 17,500
Top 5 winners on NSE at this hour
Price as of March 30, 2022 11:03 amClick on company names for their live prices.
NIFTY NEAR 17,500
Top Sensex Contributors
Sensex Today Live: Index Extends Gains and Adds 500 Points
JUST IN: Axis Bank is expected to announce the acquisition of Citibank’s retail assets today, to hold a press briefing at 4:15 p.m. today (ET NOW Sources)
Price as of March 30, 2022 10:25 a.m.Click on company names for their live prices.
These outperforming stocks can continue their winning streak
Stocks are considered a risky asset class due to their high fluctuations and erratic returns. But some stocks have shown consistent performance despite the volatility. These include Bharti Airtel, Avenue Supermarts, Divi’s Laboratories, SRF, IRCTC and Trent. These have returned more than 15% in each of the past three years.
The Rupee opens at 75.68 against the US Dollar versus Tuesday’s close at 75.98
The Ministry of Commerce is studying the work of its three companies – MMTC, STC and PEC, and it will take appropriate measures to safeguard the national interest, Trade and Industry Minister Piyush Goyal said.
Price as of March 30, 2022 10:01 a.m.Click on company names for their live prices.
Nifty is poised for a break above 17500. There is hope that the ongoing peace talks brokered by Turkey could lead to an end to the war. But these are the early days. The break above 17500 Nifty is likely to be led by financials. The outlook for financials – major banks, major housing finance companies, fintech leader and select NBFCs – looks bright for FY23 and their valuations are fair. Pharma, housing-related segments and telecom majors can lend support to the rally. But the upside of the rally will likely be capped by profit taking and concerns over the hawkish Fed
– VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
JUST IN: Bharat Electronics Limited (BEL) on Tuesday signed a contract for the Instrumented Electronic Warfare Scope (IEWR) for the Indian Air Force. The contract is an important step towards improving the IAF’s capabilities to prepare for future warfare. The overall cost of the contract is estimated at Rs 1,109 Crore.
Price as of March 30, 2022 09:37Click on company names for their live prices.
ONGC drops 4% as government sells 1.5% stake through OFS on March 30-31
Price as of March 30, 2022 09:36Click on company names for their live prices.
Sector Watch: Metal only sector loser, drop of more than 1.5%
Discover the most active actions on NSE
Price as of March 30, 2022 09:20Click on company names for their live prices.
Sensex Heatmap: Top winners and losers at the opening tick
OPENING BELL: Sensex up 400, Nifty above 17,400; Ruchi Soya jumps 4%, ONGC drops 4%
Pre-open session: Sensex gains 380 points, Nifty above 17,450
SGX Nifty reports positive start
Nifty futures on the Singapore Stock Exchange traded 180 points, or 1.03%, at 17,619.50, signaling Dalal Street was heading for a positive start on Wednesday.
Tech View: Analysts Concerned About Nifty’s Tight Range
Nifty50 rose for the second day in a row on Tuesday and in doing so, formed a small bullish candle on the daily chart, after a gap start. The index remained within the wider 17,000-17,500 range, a break of which may send directional signals going forward. Analysts were concerned about the narrow trading range for the day. They see no signs of the index breaking through the 17,000-500 range anytime soon. -cues/articleshow/90519576.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Hong Kong stocks open with gains
Hong Kong shares started on a positive note on Wednesday as investors cautiously welcomed progress in peace talks in Ukraine after Russia pledged to de-escalate the war. The Hang Seng Index gained 0.79%, or 174.00 points, to 22,101.63. The Shanghai Composite Index added 0.43%, or 13.65 points, to 3,217.59, while the Shenzhen Composite Index on China’s second-largest stock exchange rose 0.46%, or 9.57 points, at 2,094.05.
Japan’s Nikkei opens lower despite Ukraine hopes
Shares in Tokyo opened lower on Wednesday, but the market remained buoyant as global equities rallied after Ukraine peace talks progress. The benchmark Nikkei 225 fell 0.16%, or 44.20 points, to 28,208.22, while the broader Topix index fell 0.57%, or 11.42 points, to 1,980.24.
Wall Street builds on gains as Ukraine talks progress
U.S. stocks posted more gains on Wall Street on Tuesday as investors welcomed encouraging economic data and talks on ending the war in Ukraine showed signs of progress. The S&P 500 rose 1.2%, its fourth consecutive gain. The Dow Jones Industrial Average ended up 1% and the Nasdaq composite climbed 1.8%. The latest gains build on the gains of major indexes over the past two weeks, even amid choppy trading and volatile energy prices.
Rupee soars from 43 paise to 4-week high
The rupee jumped 43 paise – its biggest single-day gain of 2022 – to close at a four-week high of 75.73 against the US currency on exporters selling dollars on hopes of a peace agreement between warring Russia and Ukraine and low crude oil prices. In the interbank forex market, the local unit opened higher at 75.97 and then touched the low of the day at 76.15.
Sensex, Nifty on Tuesday
Benchmark stock indices Sensex and Nifty rallied for a second consecutive session on Tuesday after gains in index major twins HDFC, Bharti Airtel and Infosys as global stocks rose ahead of peace talks between Ukraine and Russia. The 30-stock BSE Sensex jumped 350.16 points or 0.61% to settle at 57,943.65. During the day, the index gained 408.04 points or 0.70% to 58,001.53. The broader NSE Nifty gained 103.30 points or 0.60% to settle at 17,325.30.