Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended over half a per cent up on Tuesday, on the back of buying in Housing Development Finance Corporation (HDFC), HDFC bank, Bharti Airtel, Infosys, and ICICI Bank, among others. BSE Sensex ended 350 points or 0.6 per cent up at 57,944, while NSE Nifty 50 index surged 106 points or 0.6 per cent to settle at 17,325. The top gainers on S&P BSE Sensex were HDFC, Bharti Airtel, UltraTech Cement, HDFC Bank, Dr.Reddy’s, Sun Pharma, Kotak Mahindra Bank, among others. On the flip side, shares of ITC, IndusInd Bank, Maruti Suzuki, State Bank of India (SBI), TCS capped the Sensex’ gains, and were down in the range of 0.2-1 per cent.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
BSE Sensex ended 350 points or 0.6 per cent up at 57,944, while NSE Nifty 50 index surged 106 points or 0.6 per cent to settle at 17,325
Ruchi Soya’s Rs 4,300-crore FPO ended yesterday but in an unusual development, investors have now been allowed to withdraw their bids. Market Regulator SEBI directed the company to allow investors to withdraw their bids after it came to SEBI’s notice that unsolicited SMSes advertising the issue were circulated during the days of bidding for the FPO. The issue was subscribed a total of 3.6 times by investors, bidding for 17.6 crore equity shares till yesterday evening, against the 4.89 crore on offer. Now, investors will be able to withdraw their bids for the FPO till tomorrow, March 30, 2022 evening. Ruchi Soya shares surged 20% on Tuesday to hit the upper circuit at Rs 978 per share.
Hemani Industries has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI). The IPO consists of a fresh issue of shares aggregating up to Rs 500 crore and an offer for sale aggregating up to Rs 1,500 crore , by the selling shareholders from the Promoter and Promoter Group. The total IPO size is Rs 2,000 crore
Ruchi Soya’s Rs 4,300 crore FPO ended yesterday but in an unusual development, investors have been now allowed to withdraw their bids. Market Regulator SEBI direct the company to allow investors to withdraw their bids after it came to SEBI’s notice that unsolicited SMSes advertising the issue were circulated during the days of bidding for the FPO. The issue was subscribed a total of 3.6 times by investors, bidding for 17.6 crore equity shares till yesterday evening, against the 4.89 crore on offer. Now, investors will be able to withdraw their bids for the FPO till tomorrow, March 30, 2022 evening. Ruchi Soya shares surged 20% on Tuesday to hit the upper circuit at Rs 978 per share.
The outlook for the industry and Wipro is bullish however investors should not buy its share only based on dividends because historically, IT stocks tend to underperform in April whereas technically, Wipro is having strong resistance near the 620 level which is a cluster of its 20 and 100-DMA, therefore, we can expect some pressure from here. On the downside, 540 is a strong base where investors can look for buying opportunities. Santosh Meena, Head of Research, Swastika Investmart
K-12 education is over 40% of the total edu-tech market in India. This is followed by test preparation and online certification. VLS has presence in test preparation market and intends to have services for the K-12 segment in future. Having commenced its operations in Dec. 2020, the company is in growth phase. Currently the company is loss making and is forecasted to remain loss making in the medium term. Thus we are assigning an “AVOID” rating for the issue. Choice Broking
BSE has issued an advertisement in business dailies and on its website seeking applications for the position of new Managing Director and Chief Executive officer (MD & CEO). This comes a few days after its counterpart National Stock Exchange (NSE) also invited applications for a new chief executive. The tenure of current BSE boss Ashishkumar Chauhan ends in November this year. This is Chauhan’s second tenure and under SEBI guidelines a candidate can not be appointed as MD & CEO for more than two tenures. Read full story
We reiterate BUY on Bharti (TP of INR 900/share) as we believe tariff hikes are likely to be more frequent, going forward, with Jio more willing to participate in tariff hikes given that it also needs to start focussing on profitability (and not just on subscriber additions) as it prepares for its potential IPO in the next 1-2 years. In this scenario, we believe the sector could see significant re-rating, and Bharti could gain significantly from that given the sticky nature and premium quality of its subscribers, ensuring that tariff hikes flow through to ARPUs
Dr. Reddy's Labs (DRRD) had demonstrated considerable improvement in operating margin (600bp) over FY17-21, despite pricing headwinds in its key US market. However, during 9MFY22, there has been some moderation in margins due to the increased raw-material/supply chain costs that impaired margins in the PSAI segment. Motilal Oswal
Veranda Learning Solutions’ Rs 200 crore IPO opened for subscription today. Investors will be able to bid for the public issue in a fixed price band of Rs 130-137 per share. Ahead of the issue, the company’s anchor book portion saw only three institutional investors participate, pouring in Rs 46.75 crore for a 23.38% stake in the company. Interestingly, no domestic mutual fund participated in the anchor book portion of Veranda Learnings' IPO while analysts raised questions on the financial performance and valuations. However, retail investors oversubscribed their portion within minutes.
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices fell over half a per cent in India on Tuesday, on the back of flat rates in global markets. On Multi Commodity Exchange, gold April futures were trading 0.7 per cent or Rs 357 down at Rs 51,214 per 10 grams. Silver May futures were ruling at Rs 67,580 per kg, down Rs 525 or 0.8 per cent.
The Indian rupee is expected to appreciate on Tuesday amid softening of crude oil prices and optimistic domestic market sentiments. Meanwhile, strong dollar and consistent FII outflows will hurt the currency. Further, market will stay vigilant ahead of major economic data from US. Rupee appreciated against the US dollar in the previous session, supported by positive domestic equities and a fall in global crude oil prices. However, a strengthening American currency overseas and concerns over renewed foreign capital outflows capped the gains in the domestic unit. Read full story
Rupee is trading against the broader picture of weaker fundamentals in the near term. The Russia-Ukraine tension remains a key risk for the market. On the macro side, Crude oil above the $100 mark, rising other commodities, overshooting inflation, FII’s huge outflow and a stronger dollar on hawkish Fed will surely make the depreciating story on for the Rupee in FY23. Overall, we can expect the pair to have limited downside up to 75.50 to 75.70 zone. And from there on, a bounce towards 76.50 to 76.70 can again be seen on the cards. Amit Pabari, managing director, CR Forex Advisors
Barring Nifty Media, Nifty Metal, and Nifty Oil & Gas, alll the sectoral indices were trading in the green. Bank Nifty was up half a per cent to trade at 35880
ITC, Tata Steel, and NTPC were the top BSE Sensex losers in Tuesday's trade
UltraTech Cement, Housing Development Finance Corporation (HDFC), Bharti Airtel, Asian Paints, ICICI Bank were among top BSE Sensex gainers
BSE Sensex jumped 260 points or 0.45 per cent to 57854, while NSE Nifty 50 index topped 17300
Overnight rally on the Wall Street is expected to give local gauges a major boost in early trades, as peace talks between Russia and Ukraine are set to resume today while oil prices tanked below $105 a barrel amidst fuel demand concerns in China after Shanghai launched a phased lockdown. Nifty’s support is seen at psychological 17000 mark and below the same, expect a waterfall of selling which could take Nifty down to 16691 mark with inter-week perspective. The technical landscape will improve considerably only if Nifty closes above its biggest hurdles at 17807 mark. Intraday hurdles at 17489 mark. Prashanth Tapse, Vice President (Research), Mehta Equities
Mixed global cues combined with a lack of any domestic trigger are causing volatile swings in the index. However, the rotational buying in select index majors is helping the benchmark to hold at higher levels. Going ahead, a decisive break above 17,350 in Nifty would fuel further surge else consolidation will continue. Meanwhile, traders should continue with a hedged approach. Ajit Mishra, VP – Research, Religare Broking
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices were increased for the seventh time in eight days by oil marketing companies (OMC). Fuel rates have now increased by as much as Rs 4.90 per litre after OMC hiked prices for the first time last Tuesday. Petrol in the National Capital of Delhi currently retails at Rs 100.21 per litre up from Rs 99.41 per litre yesterday, an increase of 80 paise from yesterday while diesel in the city is priced at Rs 91.47 from Rs 90.77, an increase of 70 paise from yesterday. In Mumbai, a litre of petrol and diesel cost Rs 115.04 and Rs 99.25, respectively. Pieces were hiked last week for the first time in 4 months. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
Ruchi Soya: The Securities and Exchange Board of India (SEBI) on 28 March provided an option to the investors in Ruchi Soya’s Rs 4,300 crore follow-on public offer (FPO) to withdraw their applications.
Bharti Airtel: Bharti Airtel’s management has affirmed ambitions of Rs 300 ARPU with further tariff hikes and continued ‘premiumisation’ during a recent analyst meet.
Nifty has again taken support at 17000 but the broader texture of the market is still non-directional, according to Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities. “In the near future, as long as the Nifty is holding the 17100 level, the market is likely to retest the level of 17325-17400. However, if the Nifty falls below the same, it could trigger further weakness till 17000-1695,” he added. Nagaraj Shetti believes that a sustainable move could only occur above 17500 levels, which could then open upside targets of around 17600-17800 levels for the near term,
US stock indices ended higher in overnight trade on Monday. The Dow Jones Industrial Average rose 0.27%, the S&P 500 gained 0.71%, and the Nasdaq Composite added 1.31%.
Asian stock markets surged following a fall in oil prices in overnight trade. Japan’s Nikkei 225 was 0.8% higher, while the Topix rose 0.69%.
Nifty futures were trading 110 points or 0.64 per cent up at 17,390 on Singaporean Exchange.
Veranda Learning Solutions’ Rs 200-crore IPO is scheduled to open for subscription on 29 March and close on 31 March 2022. The company has fixed a price band at Rs 130-137 per share. Before filing the red herring prospectus, Veranda Learning raised Rs 40 crore by issuing 30.8 lakh equity through a private placement to the public category. The book running lead manager to the offer is Systematix Corporate Services, and the registrar to the issue is KFin Technologies.
