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Market LIVE Updates: Sensex gains 1 percent, Nifty crosses 17,200; HUL, Asian Paints top contributors – Moneycontrol

April 28, 2022 / 12:49 PM IST

La-Opala inaugurated its New Green Field Plant at Sitarganj,Uttarakhand
La-Opala inaugurated its New Green Field Plant at Sitarganj,Uttarakhand on April 27, 2022. The Production is likely to commence by end of the first quarter of the current financial year 2022-23. With operation of this new plant, the production capacity of the Company will increase by 11,000 metric tons per annum. This new Plant will help to cater the growing demand of opal glassware products in both domestic & international markets.

April 28, 2022 / 12:40 PM IST

Market Live Updates: Sensex gains 1%; Nifty crosses 17,200 

Source: BSE

April 28, 2022 / 12:25 PM IST

Pidilite Industries partners with GCP Applied Technologies, USA
Pidilite Industries Limited, has partnered with GCP Applied Technologies Inc, a global leader in construction products, to offer high-performance waterproofing solutions for challenging sites that have exposure to high temperature variation and water table, under its brand Dr.Fixit.

April 28, 2022 / 12:16 PM IST

Indian Hotels Q4FY22 Net profit jumps 272.79 percent YoY
Net Sales at Rs 593.58 crore in March 2022 up 27.94% from Rs. 463.96 crore in March 2021. Quarterly Net Profit at Rs. 85.60 crore in March 2022 up 272.79% from Rs. 49.54 crore in March 2021.EBITDA stands at Rs. 244.37 crore in March 2022 up 106.57% from Rs. 118.30 crore in March 2021. Indian Hotels EPS has increased to Rs. 0.64 in March 2022 from Rs. 0.42 in March 2021.

April 28, 2022 / 12:00 PM IST

Market Update at 12 PM: Sensex is up 462.95 points or 0.81% at 57282.34, and the Nifty jumped 126.70 points or 0.74% at 17165.10.

Market Update at 12 PM: Sensex is up 462.95 points or 0.81% at 57282.34, and the Nifty jumped 126.70 points or 0.74% at 17165.10.

April 28, 2022 / 11:56 AM IST

Varun Beverages Q1: Net profit jumped 96.7% at Rs 254.2 crore against Rs 129.2 crore (YoY). Revenue was up 26.3% at Rs 2,867.5 crore against Rs 2,270 crore (YoY). EBITDA rose 39.1% at Rs 531 crore against Rs 381.6 crore (YoY). EBITDA margin at 18.5% against 16.8% (YoY). The stock was trading at Rs 1,062.80, up Rs 25.75, or 2.48 percent. It has touched an intraday high of Rs 1,082.00 and an intraday low of Rs 1,045.00.

April 28, 2022 / 11:51 AM IST

Market alert: Reliance Industries becomes first Indian company to hit market cap of $250 billion.

Market alert : Reliance Industries becomes first Indian company to hit market cap of $250 billion.

April 28, 2022 / 11:46 AM IST

Govt sources to CNBC-TV18: LIC IPO mop-up was not factored in FY23 divestment budget estimate. FY23 divestment aim will rise to Rs 86,000 crore from Rs 65,000 crore after LIC IPO.

April 28, 2022 / 11:39 AM IST

Yash Gupta- Equity Research Analyst, Angel One on LIC IPO:

The much-awaited LIC IPO will be opening for subscription on the 4th of May at a price band of Rs. 902-949 per share. Retail investors and policyholders will get some more benefits for applying for the IPO, company has fixed the discount of Rs 45 for retail investors and ₹60 for policyholders. So the effective price for retail investors will be Rs 904 and for policyholders, it will be Rs 889. 

At the offer band, the LOC IPO is valued at a Price/Embedded value of 1.06-1.1 its Sep’21 EV of Rs 539,686 crore which is at a significant discount to listed private life insurance companies which trade at P/EV of 2.5-3.9x their Dec’21 EV. While HDFC Life Insurance is trading at a P/EV of 3.9x SBI Life and ICICI Pru Life trade at 3.2x and 2.5x their Dec’21 embedded value. 

While LIC valuations appear to be cheap as compared to listed private players investors need to keep in mind that LIC has a lower VBN margin of 9.9% in FY2021 as compared to private players who have VNB margins of 22-27% due to higher share of participation & group product. Despite lower margins and inferior business mix, we believe that the IPO is being priced reasonably and offers value to investors with a long-term view.

April 28, 2022 / 11:34 AM IST

April 28, 2022 / 11:22 AM IST

Rainbow Childrens Medicare IPO updates:

The public issue of paediatric multi-specialty hospital chain operator Rainbow Children’s Medicare on April 28 has seen 37 percent subscription on second day of bidding, getting bids for 75.25 lakh equity shares against offer size of 2.05 crore equity shares. The issue will close on April 29.

Retail investors bought 59 percent shares of the allotted quota and employees have put in bids for 9 percent shares of reserved portion. A part set aside for qualified institutional investors was booked 10 percent and that of non-institutional investors 22 percent.

April 28, 2022 / 11:18 AM IST

Campus Activewear IPO updates:

The maiden public offer of leading footwear brand Campus Activewear continues to garner decent response from investors as the offer has been subscribed 5.23 times so far, on April 28, the final day of bidding. The issue was opened on April 26. Investors have put in bids for 17.59 crore equity shares against offer size of 3.36 crore equity shares.

Non-institutional investors showed strong interest in the IPO as their reserved portion was subscribed 7.83 times, followed by retail investors who bid shares 4.96 times the allotted quota. Qualified institutional investors bought 3.84 times the shares of reserved quota, while employees portion was booked 1.53 times.