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Market LIVE Updates: Nifty below 16,300, Sensex falls 600 pts; LIC IPO fully subscribed in all categories – Moneycontrol

May 09, 2022 / 11:11 AM IST

May 09, 2022 / 11:01 AM IST

Market update at 11 AM: Sensex is down 642.23 points or 1.17 percent at 54,193.35 while the Nifty shed 180 points or 1.1 percent and is trading at 16,230 level.

May 09, 2022 / 10:53 AM IST

HCL Technologies signs definitive agreement to acquire Confinale AGHCL Technologies UK Limited, a wholly owned subsidiary of HCL Technologies (HCL), a leading global technology company, has signed a definitive agreement for the acquisition of Confinale AG, a Switzerland-based digital banking and wealth management consulting specialist and Avaloq Premium Implementation Partner.Through this strategic acquisition, HCL will increase its footprint in the global wealth management market with emphasis on Avaloq consulting, implementation and management capabilities, company said in its release.

HCL Technologies signs definitive agreement to acquire Confinale AG     HCL Technologies UK Limited, a wholly owned subsidiary of HCL Technologies (HCL), a leading global technology company, has signed a definitive agreement for the acquisition of Confinale AG, a Switzerland-based digital banking and wealth management consulting specialist and Avaloq Premium Implementation Partner.    Through this strategic acquisition, HCL will increase its footprint in the global wealth management market with emphasis on Avaloq consulting, implementation and management capabilities, company said in its release.

May 09, 2022 / 10:51 AM IST

Top 10 trading ideas by experts for next 3-4 weeks as bears rule Dalal Street

Top 10 trading ideas by experts for next 3-4 weeks as bears rule Dalal Street

ITC has shown a relative outperformance within the FMCG space in last few weeks. In spite of the market correction in last week, this stock has managed to give positive returns and the ’20 DEMA’ has…

May 09, 2022 / 10:45 AM IST

CLSA view on Reliance Industries:

The brokerage house CLSA has maintained a buy rating on Reliance Industries with a target of Rs 2,955 per share.

“O2C (oil to chemicals) was strong but retail weak. It is one of best earnings growth stories among India’s large caps,” CLSA said.

CLSA raised FY23-24 EPS (earnings per share) forecast by 5-9% on higher refining margin, CNBC-TV18 reported.

May 09, 2022 / 10:39 AM IST

May 09, 2022 / 10:37 AM IST

Indostar Capital Finance touched 52-week low of Rs 184.30. The share price locked at 10 percent lower circuit.

Indostar Capital Finance touched 52-week low of Rs 184.30. The share price locked at 10 percent lower circuit.

May 09, 2022 / 10:32 AM IST

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services:

Hawkish stance by the Fed, rate hikes by RBI, Bank of England and Australian central bank have created an atmosphere of risk-off for equities. We don’t know how long this will last. Nifty corrected by 3.9 percent last week, but investors should not commit the mistake of aggressively buying on this dip assuming that prices have corrected a lot. 

Even after the correction Nifty is trading at around 19 times FY23 earnings. This is higher than the long-term average of 16 times and certainly not buyable valuation, particularly when equity markets globally are facing many headwinds like risk of growth slowdown, Ukraine war and supply chain disruptions caused by stringent lockdown in China. However, long-term investors may start nibbling at high quality stocks in segments like financials where there is valuation comfort.

May 09, 2022 / 10:30 AM IST

LIC IPO Subscription Update:

LIC IPO Subscription Update:

May 09, 2022 / 10:28 AM IST

LIC IPO receives record applications from retail investor

LIC IPO receives record applications from retail investor

The issue received 10.9 crore bids from retail individual investors, against 6.9 crore shares reserved for them.

May 09, 2022 / 10:20 AM IST

Tata Steel acquires 1.20 crore preference shares of TRFTata Steel Limited on May 7, 2022, acquired 1,20,00,000, 11.25% Optionally Convertible Redeemable Preference Shares of face value Rs 10 each of TRF Limited, aggregating to Rs 12 crore.

Tata Steel acquires 1.20 crore preference shares of TRF     Tata Steel Limited on May 7, 2022, acquired 1,20,00,000, 11.25% Optionally Convertible Redeemable Preference Shares of face value Rs 10 each of TRF Limited, aggregating to Rs 12 crore.

May 09, 2022 / 10:16 AM IST

All the emerging market currencies are depreciating and don’t see any factors dramatically changing for the rupee: Bank Of America told to CNBC-TV18.