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Pharma stocks in pink of health in volatile market
Price as on 08 Feb, 2022 01:26 PM, Click on company names for their live prices.
Vedant Fashions IPO sails through
Wockhardt on Tuesday said it has received approval from the Central Drugs Standard Control Organisation (CDSCO) to export up to 10 crore doses of Russian COVID-19 vaccine Sputnik.
Price as on 08 Feb, 2022 01:02 PM, Click on company names for their live prices.
Should you buy Adani Wilmar post listing surprise?
Most analysts are surprised by the negative debut of the company and said that a discounted listing of Adani Wilmar is a buying opportunity for investors. Ajit Mishra, VP- Research, Religare Broking said that the company made a muted debut as the correction in broader market prevails. “Their valuations and subscription numbers were good for the issue,” he said. It is a buying opportunity for investors as long as one gets its near IPO price. They should accumulate on dips for the long term, he added with a word of caution to look over market sentiments.
IPO CHECK | Vedant Fashions subscribed nearly 50% on the last day
Inox Green files draft IPO paper with Sebi to raise Rs 740 crore
Inox Wind on Tuesday said its arm Inox Green Energy Services Ltd (IGESL) has filed drat paper with market regulator Sebi to raise up to Rs 740 crore through an initial public offer (IPO). IGESL has filed a draft red herring prospectus with the Securities and Exchange Board of India on February 7, 2022, a BSE filing said. As per the filing, the “proposed offer consists of a fresh issue of equity shares aggregating up to Rs 3,700 million (Rs 370 crore) and an offer for sale of equity shares aggregating up to Rs 3,700 million (Rs 370 crore) by the company”.
CoinDCX’s user base crosses 1 crore
Sarda Energy has commenced operations at its Coal Washery at Raigarh. The Coal Washery is located within the Gare Palma IV/7 coal mine premises and has an annual capacity of 0.96 MTPA.
Price as on 08 Feb, 2022 12:08 PM, Click on company names for their live prices.
JUST IN: Rotary Narayana Eye Hospital, Kolkata, has been disposed of on a slump sale basis to Techno India Technologies Limited for Rs 21 million
Price as on 08 Feb, 2022 12:07 PM, Click on company names for their live prices.
MOSL on Angel One stock
- Angel One is our top pick for 2022 in the capital market domain. Our investment idea is premised on our structurally positive view on digitalization and financialization of savings in India.
- Angel has been at the forefront in terms of client acquisitions with ~12.2% of incremental NSE active clients recorded over the past six quarters. Its share in the incremental demat accounts has averaged 15% for the past seven quarters. Angel has witnessed a relatively stable trend since Apr’20 in customer acquisition v/s Upstox and Groww that experienced major volatility in acquisition trends.
- We project an 18%/20% revenue/PAT CAGR over FY22-24E premised on significant industry opportunity, strong competitive positioning among discount brokers, and operating leverage. We find the stock valuations attractive at FY24E P/E of 13.0x. Maintain BUY with a one-year TP of Rs 1,900.
Sensex off day’s low
Adani Wilmar valued at up to $4.35 billion in market debut
- Edible oil maker Adani Wilmar rose as much as 8.5% to 249.5 rupees early on Tuesday as it debuted on the National Stock Exchange, valuing the firm at Rs 32,433 crore ($4.35 billion).
- The listing comes amid volatility in broader equities as central banks across the globe tackle high inflation and expectations of higher interest rates push foreign investors to exit domestic markets.
- The company’s shares opened at 227 rupees, a 1.3% discount to the initial public offering price of 230 rupees, before rising as high as 249.5 rupees. The stock was trading 8.35% higher at 249.15 rupees by 0458 GMT.
JUST IN: Dilip Buildcon wins order worth Rs 1,060 crore from NHAI
Price as on 08 Feb, 2022 11:40 AM, Click on company names for their live prices.
AMAZON-FUTURE RETAIL CASE
> CJI objects to fresh requests for submission in Amazon-Future Retail case
> Observes fresh submissions to complicate, drag litigation when orders are reserved
Sensex Heatmp | Top gainers and losers as index declines over 500 points
Nifty’s weakness had to stretch as far as 17200 and beyond for a brief period, before sellers withdrew. While the 16800s look quite nearnow, we feel that a consolidation is now in order. If 17280-300 is not breached on the bounce, bears will re assume dominance and Nifty will most likely go looking for support in the 16900s. Vertical recovery is not expected, if 17280-300 is breached, and upside targets will be modest and limited to 17350-400-460.
– Anand James – Chief Market Strategist at Geojit Financial Services
Top 10 losers in morning session
Price as on 08 Feb, 2022 10:53 AM, Click on company names for their live prices.
Sharp Fall! Nifty slips below 17,150
An interesting trend in the market is that selling is in large-caps. High quality large-caps like the HDFC twins are hammered by the bears just because FIIs hold a large quantity of these stocks and the bears expect FIIs to sell them more, irrespective of their solid fundamentals and earnings visibility. Such aberrations in the market can be buying opportunities for discerning long-term investors.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Airtel Q3 Result Preview: Profit may drop 50% QoQ; Arpu seen rising to Rs 162
Bharti Airtel is likely to report a 53.5 per cent sequential drop in its consolidated profit at Rs 928 crore for the December quarter, an ET NOW poll of analysts suggested. The fall in profit would be seen as the numbers in the September quarter were aided by proceedings of sale of spectrum assets to Reliance Jio. Consolidated revenues are seen rising 3.7 per cent quarter-on-quarter (QoQ) to Rs 29,367 crore.
Sensex gyrates between gains & losses
LISTING DAY ACTION | Adani Wilmar rebounds sharply post tepid debut
Bitcoin near $44,000; XRP, Shiba Inu zoom up to 20%
Barring the dollar-pegged USD Coin, all other nine out of the top-10 digital tokens were trading with decent gains on Tuesday. Bitcoin rose to a four-week high, climbing for consecutive sessions lately, driven in part by the liquidation of some short positions that have accumulated in the virtual currency’s recent three-month downtrend. XRP zoomed 20 per cent, whereas Shiba Inu rallied 15 per cent.
ALERT: Adani Wilmar pre-open indicative price at Rs 221 vs issue price of Rs 230
Price as on 08 Feb, 2022 09:46 AM, Click on company names for their live prices.
JUST IN: Eclat Media Group selects Tata Communications to bring global sports to pan-Asian viewers; stock up 1%
Price as on 08 Feb, 2022 09:36 AM, Click on company names for their live prices.
Most active stocks on NSE
Price as on 08 Feb, 2022 09:25 AM, Click on company names for their live prices.
Sector Watch | All indices start on firm footing
OPENING BELL: Sensex rises 150 points, Nifty50 above 17,250; Maruti, Tata Steel gain 2% each
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 18 points, or 0.10 per cent, higher at 17,232, signaling that Dalal Street was headed for a positive start on Tuesday.
Asian shares trade mixed
Asian shares opened mostly higher on Tuesday despite falls on Wall Street over lingering uncertainties about the fast-spreading Omicron variant, inflation and Ukraine worries, but investors focused on corporate earnings. MSCI’s index of Asia-Pacific shares outside Japan was up by 0.06 per cent.Japan’s Nikkei gained 0.40%South Korea’s Kospi rose 0.90%Australia’s ASX 200 added 0.87%China’s Shanghai dropped 0.13%Hong Kong’s Hang Seng fell 0.98%
The Nifty50 on Monday fell for the third straight session and also slipped below its 50-day moving average. The index formed a bearish candle on the daily scale and made lower high-low for the third session in a row, suggesting that the bears have an edge over the bulls.
The fear gauge spike more than 8 per cent to 20.44 level on Monday over its close at 18.90 on Friday
US stocks settled lower
Wall Street ended lower on Monday, as investors digested recent quarterly results from Facebook owner Meta Platforms and other megacaps, while Peloton jumped following reports of interest from potential buyers, including Amazon.Dow Jones ended flat at 35,091.13S&P 500 plunged 0.37% to 4,483.87Nasdaq dropped 0.58% to 14,015.67
Euro bounce pauses ahead of US inflation
A resurgent euro was hunkered just short of strong resistance levels on Tuesday as traders awaited US inflation data due later in the week, wary it could trigger gains in the dollar.Dollar Index was pinned at 95.425Euro held gains at $1.1483Pound was steady at $1.3538Yen dropped to 115.22 per dollarYuan exchanged hands at 6.3574 against the greenback
FIIs sell shares worth Rs 1,157 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 1157.23 crore, data available with NSE suggested. DIIs turned net sellers to the tune of Rs 1,376 crore, data suggests.
Q3 earnings today
Bharti Airtel, Godrej Consumer Products, Gujarat Gas, IRCTC, Jindal Steel and Power, NMDC, Tata Teleservices (Maharashtra), Indraprastha Gas, Bata India, Escorts, Endurance Technologies, Suven Pharmaceuticals, BSE, Redigton (India) and EID Parry are among the companies that will announce their December quarter results today.
Adani Wilmar’s listing today
The Adani Group’s FMCG firm will be listed on the bourses on Tuesday, being the second player to make its Dalal Street debut on the bourses. The company raised Rs 3,600 crore via its IPO between January 27-31 by selling its shares in the range of Rs 218-230 apiece.
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