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MARKET LIVE: Tepid opening likely on cards for D-St; Zomato IPO opens today

Stock market LIVE: Infosys, 5paisa Capital, Craftsman Automation, Dodla Dairy, LTTS and Hatsun Agro Product are among 19 companies that are slated to post their Q1 earnings today

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MARKET LIVE | Markets | Zomato

SI Reporter  | New Delhi 

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EVENT HIGHLIGHTS

MARKET LIVE: Tepid opening likely on cards for D-St; Zomato IPO opens today
LIVE market updates: Global markets slipped early Wednesday after US consumer prices rose by the most in 13 years. SGX Nifty was trading 40 points lower at 15,794 around 7.30 am.

Asian markets traded mixed with Japan’s Topix index down 0.1 per cent and South Korea’s Kospi 0.4 per cent. Australia’s S&P/ASX 200 Index, meanwhile, rose 0.2 per cent.

Overnight, the Dow Jones Industrial Average fell 0.31 per cent, the S&P 500 lost 0.35 per cent and the Nasdaq Composite dropped 0.38 per cent.

Domestic cues
Investor interest will likely shift to the primary market today as Zomato's Rs 9,375 crore IPO kicks off. At the top-end of the price band (Rs 72-76), the company will be valued at nearly Rs 60,000 crore, which analysts find expensive and hence recommend subscribing only for listing gains purposes. 

In the secondary market, apart from global cues, quarterly earnings, macro data viz WPI inflation and oil price movement could influence investor sentiment.

Earnings today
Infosys, 5paisa Capital, Craftsman Automation, Dodla Dairy, L&T Technology Services and Hatsun Agro Product are among 19 companies that are slated to post their quarterly earnings today.

Most analysts are penciling in a 27-30 per cent year-on-year (YoY) rise in Infosys' Q1 profit while the revenue growth is seen between 16-17 per cent. That apart, expectations are ripe that the company may hike its FY22 revenue guidance to 13-15 per cent versus 12-14 per cent earlier.

(With inputs from Reuters)

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