Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian benchmark indices opened on negative note with Nifty around 16,500 amid weak global cues. At open, the BSE Sensex was down 293.52 points or 0.53% at 55170.87, and the Nifty was down 86.40 points or 0.52% at 16508.50. Coal India, Tata Steel, Hindalco, BPCL and Britannia Industries were among major gainers on the Nifty, while losers were Tata Motors, HDFC, Maruti Suzuki, Eicher Motors and HUL. Among sectors, auto index down 1 percent, while metal index up 1 percent. In broader markets, BSE midcap and smallcap indices are trading flat.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
The total sales for the month of February 2022 declined 17.8% at 17.91 lakh units versus 21.77 lakh units, YoY. The passenger car sales were down 6.3% at 1.67 lakh units versus 1.78 lakh units and passenger vehicle sales were down 0.8% at 3.14 lakh units versus 3.16 lakh units, YoY.
However, utility vehicle sales were up 9.1% at 1.37 lakh units versus 1.26 lakh units, YoY. The 3-wheeler sales fell 8.4% at 63,036 units versus 68,832 units and 2-wheeler sales fell 21.1% at 14.13 lakh units versus 17.91 lakh units, YoY.
Rakesh Jhunjhunwala-backed Star Health and Allied Insurance Company’s share price has tanked nearly 33 per cent from its 52-week high of Rs 940, touched on its debut day in December last year. The stock is down 30 per cent from its IPO price of Rs 900 per share. Jhunjhunwala and his wife held a 17.51 per cent stake or 10.07 crore shares in the company at the end of December 2021 quarter. Despite the 30% correction in share price in three months, ICICI Securities is bullish on this stock. The brokerage firm has given a target price of Rs 806 per share, potential upside of 27 per cent from last close.
Shares of Laurus Labs hit an over four-month high of Rs 587.65, surging 6 per cent on the BSE in Friday’s intra-day trade on heavy volumes. The stock of the pharmaceutical company was trading at the highest level since October 21, 2021. It had hit a record high of Rs 724 on August 12, 2021.
China's benchmark index, the Shanghai Composite staged a rebound to end 0.4 per cent higher as against a loss of more than 2 per cent earlier in the day on Friday. However, Nikkei and Hang Seng were down sharply. Kospi and Taiwan too were down 0.7 per cent and 0.9 per cent, respectively.
Stock: Prestige
CMP: 442.90
Add on dips: 425
Targets: 478.50-491
SL: 409.50
Time Horizon: Up to 3 Months
Indraprastha Gas Limited (IGL) has received letter of intent from PNGRB for grant of authorization to the company for development of CGD network in the Geographical Area of Banda, Chitrakoot and Mahoba in the state of UP. Indraprastha Gas Ltd shares were trading at Rs 383.50, up Rs 0.40, or 0.10 per cent on the BSE.
ICICI Bank has signed an agreement to acquire a 5% stake in asset management company NARCL for Rs 137.5 crore in cash, the company said in a filing Friday. The investment will be done in tranches and the first tranche of investment of Rs 70.4 crores will be completed this quarter, the company added. Shares were up nearly 0.4% at Rs 679 apiece in afternoon trading
Life Insurance Corporation of India, the IPO-bound life insurer, said its fiscal third quarter profit after tax jumped to Rs 234.91 crores, from a mere Rs 0.91 crore in the same quarter in the previous year, primarily due to a change in funds redistribution policy. LIC’s profit for the first nine months of fiscal 2022, ie April-December, surged to Rs 1,642.78 crore, a jump from Rs 7.08 crore in the corresponding period previous year. The IPO of the largest insurer of the country has reportedly been approved by the markets regulator this week and an official announcement is imminent.
Our markets started yesterday’s session with a massive bump up beyond 16750 on the back of cheerful mood across the globe. However, this seemed overreaction as markets immediately came back to the realistic levels in the initial trade around 16650 in line with what SGX Nifty was indicating. This was followed by consolidation throughout the first half; but as we stepped into the latter half, the profit booking took place to some extent. Nifty 50 index came off sharply to test the 16450 mark in a span of merely half an hour. Fortunately, nerves settled down around it and with the help of a modest recovery at the end, Nifty concluded with weekly expiry tad below 16600 by adding over one and half a percent gain.
Buying seen in the banking and metal names, while selling is witnessed in the auto, FMCG and power names. BSE midcap and smallcap indices are trading flat.
TCL North America Inc., a wholly-owned subsidiary of Titan Company has today signed a Stock Purchase Agreement with Great Heights Inc., USA (Great Heights) for subscription of shares with voting preferred stock in the capital stock of Great Heights, which would result in TCLNA holding up to 17.5% voting rights in Great Heights. Titan Company shares were trading at Rs 2,481, up Rs 14, or 0.57 per cent on the BSE.
Benchmark indices were trading in the green in noon deals amid volatility with Nifty holding above 16,600. The Sensex was up 105.94 points or 0.19% at 55,570.33, and the Nifty was up 28 points or 0.17% at 16,622.90.
On Thursday, Indian markets rose for the third day in a row, boosted by banking, consumer, and auto stocks, as expected negotiations between Ukraine and Russia boosted global risk appetite. Today, markets began flat amid global market volatility, as investors shifted their emphasis back to global cues after investors welcomed the outcomes of Assembly elections in five states. The Reserve Bank data revealing that India Inc's direct foreign investment fell 67 percent to $753.61 million in February
