Nifty50: 17,038 ▼ 162 (-0.9%)
Sensex: 56,819 ▼ 537 (-0.9%)
Sup, people?
Chubhti, jalti garmi ka mausam just got worse with the pan-India heatwave. And if Apple’s smart water bottle concept is too OTT for you, just settle down with a glass of water! Why? The markets are still tepid, but our cities are heating up. Stay hydrated while we help you stay informed… Onto the markets, which seem unable to make up their mind this week.
- Not just this week, the markets have been range-bound since the beginning of last week.
- Meanwhile today, 39 of the Nifty50 stocks closed on a negative note. RIL set a new record. More on that in a bit.
- While Indian markets are trying to hold on to the cliff, major global markets have shown a clear direction—down. Rate hikes on their mind?
Media was the lone sector that tried to put up a good show but almost flopped, gaining a mere 0.07%. Financial Services (-1.4%) and Bank (-1.0%) witnessed losses.
Did you know?
You can now place Good-Till-Triggered (GTT) orders on the new Upstox app. To know more about GTT orders, click here.
| Top gainers | Today's change |
| Hero Motocorp | ▲ 3.8% |
| TATA Steel | ▲ 1.2% |
| Asian Paint | ▲ 0.6% |
| Top losers | Today's change |
| Bajaj Finance | ▼ 7.2% |
| Bajaj Finserv | ▼ 3.8% |
| TATA Consumer | ▼ 2.8% |
For more updates on F&O, click here.
What’s trending
⭐RIL market cap hits ₹19000000000000
That’s 12 zeroes, in case you are counting, which is a record for the Indian markets. Reliance Industries’ shares rose nearly 2% intraday to take the company's market cap over the ₹19 lakh crore mark. This was after the company signed a $2 billion deal with Abu Dhabi Chemicals Derivatives Company (TA’ZIZ) for a chemical project. RIL’s shares have risen nearly 17% so far in 2022
⭐Tata Motors' big EV win ⚡🚌
Auto major Tata Motors (-1.1%) has won an order of about ₹5,000 crore to supply electric buses. As per the order, it will deliver 5,450 buses that will be deployed in 5 cities.
⭐Macrotech to get fit🏋️
Macrotech Developers, also known as Lodha, rose over 3% intraday as it said it will bring down the debt in its India business by ₹3,000 crore from about ₹9,300 crore, currently. The Mumbai-based real estate player’s March quarter profits grew 72% year-on-year to ₹538 crore.
⭐The Maharaja makes a move🛫
Air India has proposed to acquire AirAsia India. Notably, both the airlines are run by the Tata Group. At present, Tata Sons holds about 83% stake in AirAsia India.
⭐AU Bank: Ek share par ek BONUS💰
AU Small Finance Bank’s (-3.7%) profits doubled to hit ₹346 crore. The growth was supported by low cost of funds and rise in bank’s core income. It has also declared a 1 for 1 bonus.
⭐ IOB, Central Bank to go private? 💸
Indian Overseas Bank (-0.5%) and Central Bank of India’s (-0.7%) could be next in line as the government plans to speed up the privatisation process. This had been put on hold keeping in view recent state elections and protests by bank associations.
In Focus
Coming Soon: India’s BIGGEST IPO
Your parents probably talked you into buying its policies and now you can invest in the company as well. And if you have listened to Mummy-Papa, then you stand to get a discount too on the LIC IPO.
What’s more, the government has confirmed it will not bring a follow-on public offer for LIC this year.
The LIC IPO will open for the general public between May 4 and 9. The IPO is priced between ₹902 to ₹949/share, with a minimum lot size of 15 shares. The Indian government, which is the 100% owner of the company, will offload 3.5% of its stake worth over ₹20,000 crore.
LIC policyholders will get a discount of ₹60/share and will have a proportionate allotment if the issue is oversubscribed. To further sweeten the deal, policyholders are permitted to apply for the IPO in both categories - investor and policyholder. All of this only applies if you have already linked your policy to your PAN number. Not an LIC policyholder? Don’t feel left out. Retail investors will also get a discount of ₹45/share. Click here to learn more about the LIC IPO.
IPO corner
Today, the entire spotlight was on the LIC IPO announcement. However, besides the LIC IPO, two other IPOs are currently open for subscription. On its day 2, Campus Activewear IPO was subscribed 3.2 times. Meanwhile, Rainbow Children's Medicare IPO subscribed 0.2 times on Day 1. Click here to apply for these IPOs.
Good to know
Who is a retail investor?
A retail investor is someone like you and us. People who scrimp together their savings to invest in equities, commodities, mutual funds, etc. From an IPO perspective, a retail investor is one who applies from an individual account for shares valued under ₹2 lakh.
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