Page 1597 - Markets News
Bofa cuts Nifty target by 1,000 pts to 16,000, sees flat market this year
Says any easing in global crude, FPI outflow reversal and bottoming of rupee will be positive for market. Key downside risks include higher global inflation and faster rate hikes
 "Bofa cuts Nifty target by 1,000 pts to 16,000, sees flat market this year")
Investors richer by over Rs 12 trillion as markets record sharp gains
Equity investors became richer by over Rs 12 trn on Tuesday, helped by a smart rally in the broader market.
 "Investors richer by over Rs 12 trillion as markets record sharp gains")
Top headlines: Airtel's Q4 net zooms 164%; WPI inflation hits 15.08% in Apr
Business Standard brings you the top headlines on Tuesday
 "Top headlines: Airtel's Q4 net zooms 164%; WPI inflation hits 15.08% in Apr")
 "Oil hits seven-week high amid EU push for ban on Russian crude imports")
Sensex soars 1,345pts, Nifty tops 16,250; LIC ends 8% down at Rs 875 on BSE
CLOSING BELL: Shares of Life Insurance Corporation of India (LIC) listed at Rs 867.20 on the BSE, a 8.6 per cent discount when compared with its issue price of Rs 949 per share
 "Sensex soars 1,345pts, Nifty tops 16,250; LIC ends 8% down at Rs 875 on BSE")
FPI holdings in Indian equities down 6% at $612 bn in March qtr: Report
The value of foreign portfolio investors' (FPI) holdings in domestic equities reached $612 billion in the March quarter, down 6 per cent from the preceding quarter, according to a Morningstar report.
 "FPI holdings in Indian equities down 6% at $612 bn in March qtr: Report")
Long runway for growth in the insurance sector, say analysts
Insurance stocks underperformed the frontline indices on Tuesday following a faded listing of state-run giant Life Insurance Corporation.
 "Long runway for growth in the insurance sector, say analysts")
Honda India Power surges 13%; stock hits over four-year high
The company remains confident of gasoline fueled engine and water pump business to perform well. It anticipates complete transition to gasoline from kerosene-powered products.
 "Honda India Power surges 13%; stock hits over four-year high")
ITC gains 4% ahead of March quarter results on Wednesday
ITC is better-placed than peers with improving cigarette performance and strong earnings visibility, analysts.
 "ITC gains 4% ahead of March quarter results on Wednesday")
Nifty Auto tests 200-DMA; TaMo, Maruti can rally up to 11%, charts show
The Nifty Auto index is slowly inching towards 200-DMA; above which the index can gain up to 4 per cent.
 "Nifty Auto tests 200-DMA; TaMo, Maruti can rally up to 11%, charts show")
Aurobindo hits 2-year low; dips 11% in a week on USFDA's 6 observations
Analysts at ICICI Securities expect Aurobindo Pharma's adjusted PAT to de-grow 30.4 per cent year-on-year (YoY) to Rs 557.90 crore in the March 2022 quarter.
 "Aurobindo hits 2-year low; dips 11% in a week on USFDA's 6 observations")
After a surprise profit in Q3, IndiGo may report net loss in Q4: Analysts
IndiGo Q4 preview: Analysts expect the airline to bleed this quarter yet again amid high fuel costs
 "After a surprise profit in Q3, IndiGo may report net loss in Q4: Analysts")
Metal shares shine on demand revival hopes; Hindalco, Vedanta soar 7%
At 10:36 am; Nifty Metal index was the top gainer among sectoral indices, up 4.4 per cent, as compared to 1.3 per cent rise in the Nifty50 index.
 "Metal shares shine on demand revival hopes; Hindalco, Vedanta soar 7%")
LIC lists at 8.6% discount, stock recovers partially post weak debut
LIC has now become the fifth most valuable listed Indian company with a market capitalisation of Rs 5.72 trillion on the BSE as of 10:08 am, the exchange data shows.
 "LIC lists at 8.6% discount, stock recovers partially post weak debut")
Stocks to Watch: LIC, IndiGo, GSK Pharma, Max Health, PSUs, Bharat Forge
Stocks to Watch Today: At 7:30 am, the SGX Nifty futures were quoting at 15,890 levels, hinting at an opening gain of 40-50 odd points for the Nifty.
 "Stocks to Watch: LIC, IndiGo, GSK Pharma, Max Health, PSUs, Bharat Forge")
LIC to list on bourses today: Check share price and other details
LIC IPO closed on May 9 and shares were allocated to bidders on May 12
 "LIC to list on bourses today: Check share price and other details")
Is Ambuja Cement & ACC merger on the cards after Adani's Holcim deal?
Shares of ACC and Ambuja Cements soared up to 4% in yesterday's trade after the Holcim Adani deal. Analysts believe the Adani Group may merge both these entities over the medium term. Find out more
 "Is Ambuja Cement & ACC merger on the cards after Adani's Holcim deal?")
Analysts cut target prices on SBI stock as lender misses Q4 estimates
SBI Q4 result review: Global brokerage Nomura has cut the lender's target from Rs 650 to Rs 610 as it reported flat net interest margin (NIM) of 3.15 per cent
 "Analysts cut target prices on SBI stock as lender misses Q4 estimates")
LIC stock may be held for long term if there's no listing gain: Experts
"If you hold on to this stock for more than three years, you are likely to earn decent returns," says Vikas Gupta, founder and chief executive officer, OmniScience Capital on LIC being listed today
Adani-Holcim deal: Analysts expect Ambuja and ACC to merge in medium-term
Adani-Holcim deal: The merger of Ambuja Cement and ACC will help Adani Group rationalise a lot of fixed cost quotients at both these entities, analysts said
 "Adani-Holcim deal: Analysts expect Ambuja and ACC to merge in medium-term")