Sensex Today Live: Snapping their three-day winning streak, the domestic benchmark indices settled in the red on the last trading day of March – a tumultuous month marked by geopolitical and economic uncertainty after Russia invaded Ukraine. In line with global peers, the 30-share pack Sensex fell 115.48 points or 0.20% to a close at 58,568.51. Its broader peer NSE Nifty declined 33.50 points or 0.19% to 17,464.75.
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GAIL buyback at Rs.190 per share is attractive based on CMP. The buyback will result in a 1.5% reduction in a total number of shares outstanding and cause a marginal uptick in future EPS. The stock is currently trading at 6.1x EV/EBITDA 1Yr Fwd, which is lower than its 5Yr avg of 7.1x due to the headwinds in the sector. As per our analysis, the buyback can provide a return of 10% to 20% based on CMP & acceptance ratio of 50% to 100%, for short term investors.
– Sethumadhavan KS, Analyst at Geojit Financial Services
Tech View: Nifty50 forms small bearish candle, but momentum stays strong
Nifty50 on Thursday snapped a three-day winning run and ended up forming a small bearish candle on the daily chart. The day’s range remained narrow as was seen in the past couple of sessions but analysts see no signs of change in the positive momentum. The sustainability of the current zone could be perceived as a constructive setup, said Osho Krishan of Angel One.
Investors’ wealth surges over Rs 59.75 lakh cr in FY22
Investors’ wealth jumped over Rs 59.75 lakh crore in the 2021-22 fiscal, helped by a largely buoyant trend in domestic stocks with benchmark index Sensex surging over 18 per cent during the period. Braving many headwinds in the latter part of the current fiscal, Sensex closed the 2021-22 financial year with a gain of 9,059.36 points or 18.29 per cent.
What to expect from Street going ahead?
— Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
OPEC+ JMMC AGREES TO RAISE OIL OUTPUT BY 432,000 BPD FROM MAY – REUTERS
ONGC share sale fully subscribed, govt to get Rs 3,000 cr next fiscal
The government’s 1.5 per cent stake sale in ONGC got fully subscribed, ensuring Rs 3,000 crore to the exchequer that is to be accounted for in the next fiscal. The government is selling up to 1.5 per cent of its stake in the country’s top oil and gas producer ONGC at a floor price of Rs 159 per share. The Offer-For-Sale (OFS), which opened for retail investors on Thursday, received bids for over 1.33 crore shares. This represents 71 per cent of the total issue size of over 1.88 crore shares.
Veranda Learning IPO subscribed over 3.53x on final day
Nifty tech view by Rupak De, LKP Sec
Markets remained rangebound throughout the day as the benchmark Nifty hovered within 100 points range. However, the bais may continue to remain positive over the near to short term. On the higher end, the index may move towards 17650, whereas support is visible at 17300.
Fiscal Deficit for April-February 2022 at Rs 13.17 lk cr vs Rs 14.1 lk cr, YoY
Just In | Fiscal Deficit for April-February 2022 at Rs 13.17 lk cr vs Rs 14.1 lk cr, YoY @FinMinIndia… https://t.co/oaPdxnuVU4
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Domestic market opened on a positive note taking cues from global market & FIIs buying. However, the mood turned negative in line with global peers following inconclusive Russia-Ukraine talks. Plunge in Oil prices on reports that the US will release substantial petroleum reserves & cheaper oil offered to India by Russia will be positive for India in the future.
– Vinod Nair, Head of Research at Geojit Financial Services
What moved market today?
We reiterate our positive yet cautious stance citing lingering geopolitical tension between Russia-Ukraine and its impact on the global markets. Meanwhile, markets are offering opportunities across sectors so the focus should be on identifying the sectors/themes which are gaining traction and plan the positions accordingly.
— Ajit Mishra, VP – Research, Religare Broking
Market Watch
#MarketsWithETNOW | #Nifty snaps 2 month losing streak to post best month since Aug 2021, up ~4% Here's a complet… https://t.co/dBNT7g7T2M
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Sector Watch: FMCG, media index lead sectoral gainers
Top gainers & losers from Nifty pack
Sensex Heatmap: M&M top performer, RIL worst loser
CLOSING BELL: Sensex snaps 3-day winning run, drops 115 pts; Nifty50 ends March F&O series at 17,465; Adani Power surges 9%
STOCK FOCUS: Dhanlaxmi Bank jumps on RBI nod for opening new branches
Price as on 31 Mar, 2022 03:12 PM, Click on company names for their live prices.
L&T appoints ex-Citi India head Pramit Jhaveri as director
Price as on 31 Mar, 2022 03:00 PM, Click on company names for their live prices.
Having a common category benchmark is useful for investors to make a relative performance comparison for funds within a category to a single benchmark which is typically representative of the broader investment universe for the category. In addition, several other ratios that investors use like Information Ratio, Capture Ratios, etc will be calculated using a common benchmark for a category. Funds can also benchmark themselves against a secondary benchmark which is representative of their investment style. This will help investors identify the specific style of a fund and compare the fund’s performance versus that benchmark too.
– Kaustubh Belapurkar, Director – Manager Research, Morningstar India
Top tourism & hospitality losers
Price as on 31 Mar, 2022 02:38 PM, Click on company names for their live prices.
NIFTY FCMG rallies over 1%; top gainers & losers from pack
Sensex falls over 130 points
Stocks that have hit 52-week high in trade today
Price as on 31 Mar, 2022 01:43 PM, Click on company names for their live prices.
STOCK IN FOCUS: SPICEJET
Relief for #SpiceJet as airline reaches settlement with lender which sought its insolvency. @abhhimanyus gets you t… https://t.co/S2rQlWYpGn
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Grasim says Swedish company Renewcell & Birla Cellulose sign agreement for cellulosic fiber production
Price as on 31 Mar, 2022 01:24 PM, Click on company names for their live prices.
Auto component industry likely to clock 8-10% growth in FY23: Report
- The Indian auto component industry is expected to clock 8-10 per cent growth in FY23, supported by the easing of supply-chain issues and commodity inflation in the second half of the year, according to rating agency Icra.
- For 2021-22, the revenue growth of the industry is pegged at 13-15 per cent, driven by domestic OEM, replacement, export volumes and pass-through of commodity prices. The healthy volume growth will, however, come on a low base of FY2021, the agency said in a statement.
- “Demand for auto components stems from domestic OEMs, replacement and exports. Domestic OEM demand has remained a mixed bag across segments in FY2022, with a slowdown in two-wheelers (2Ws) and semiconductor shortage dragging down overall production volumes,” Icra Ltd Assistant Vice President & Sector Head – Corporate Ratings – Vinutaa S said.
Vodafone Idea raises Rs 4500 cr by allotting shares to following
Tata Sons rakes in Rs 11,200 crore on selling TCS shares during buyback
Tata Sons sold 2.48 crore shares of Tata Consultancy Services (TCS) to the company during its recently concluded buyback offer, raking in a total Rs 11,163 crore at Rs 4,500 per share. Out of the total accepted shares by TCS, Tata Sons’ portion constituted 62.02 per cent of the buyback size. Tata Sons is the promoter of the company. After the buyback, its stake in TCS stood at 72.30 per cent compared to 72.19 per cent before the offer.
Nifty outperforms global peers
#MarketsWithETNOW | Nifty outperforms most global peers, rallying 19% in the financial year ending March 31, 2022… https://t.co/8t2kNoFV75
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India may see above normal temperature in April: Met department
Price as on 31 Mar, 2022 12:32 PM, Click on company names for their live prices.
Airtel, Tech Mahindra: The two firms will co-develop and market 5G use cases in India
Price as on 31 Mar, 2022 12:09 PM, Click on company names for their live prices.
Sensex today live: Index erases gains, slips 100 points
GAIL buyback of shares at Rs 190 per share
Price as on 31 Mar, 2022 11:37 AM, Click on company names for their live prices.
Govt of India invites global EOI for strategic disinvestment of Ferro Scrap Nigam, a 100% subsidiary of MSTC
Price as on 31 Mar, 2022 11:33 AM, Click on company names for their live prices.
IIFL Wealth zooms 8% as Bain Capital buys stake
The Boston-based Bain Capital will buy 24.98 per cent equity stake in the wealth management player for Rs 3,679.95 crore, whereas existing investors including General Atlantic and Prem Watsa’s Fairfax Holdings will offload their stake.
The…
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