Indices at previous closing
Nifty50: 17,069 ▼ 33 (-0.2%)
Sensex: 56,975 ▼ 84 (-0.1%)
Nifty Bank: 36,163 ▲ 75 (+0.2%)
For more updates on F&O, click here.
LIC IPO opens for subscription
The wait for the LIC IPO has finally ended. India’s biggest-ever public issue will be open for subscription between 4 May and 9 May 2022. The price band for the ₹20,557 crore IPO is set at ₹902-₹949 per share. According to reports, the LIC IPO will be the fifth biggest public issue globally in 2022. Click here to apply for the LIC IPO on Upstox.
Meanwhile, ahead of its IPO, the state-owned life insurance behemoth raised more than ₹5,000 crore from anchor investors. Around 70% of the anchor book was subscribed by domestic mutual funds.
Britannia has a "Good Day"
FMCG major Britannia Industries reported a 5% year-on-year rise in March quarter net profits to ₹378 crore. Meanwhile, its sales rose 15.5% to ₹3,508 crore in the quarter, compared to the year ago period.
The pick-up in revenues was driven by a 4% rise in sales volumes and a 10% hike in prices in the quarter to offset inflation. The company said it may continue to hike prices in the future to manage profitability.
Inox Leisure sees a recovery
With cinema halls back in business, multiplex operator Inox Leisure reported a lower consolidated net loss of ₹28.1 crore in Q4 FY22. The cinema chain recorded a net loss of ₹93.6 crore in the same period last year due to the second wave.
The operating revenue grew three-fold to ₹317.7 crore compared to ₹90.4 crore in the previous year. According to the company, the response was ‘reminiscent’ of pre-pandemic times due to the release of ‘blockbuster’ movies. Inox currently operates 161 multiplexes across 72 cities and recorded 11 million visitors in Q4.
Sectoral indices (May 4)
| Top gainers | Top losers |
| Nifty Metal ▲ 0.5% | Nifty IT ▼ 1.5% |
| Nifty Media ▲ 0.4% | Nifty Auto ▼ 1.2% |
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.5% |
| Nikkei 225 (Japan) | ▼ 0.1% |
| Hang Seng (Hong Kong) | ▼ 0.5% |
| SSE Composite (China) | ▲ 2.4% |
| Dow Jones (US) (May 3) | ▲ 0.2% |
| NYSE (US) (May 3) | ▲ 0.4% |
| Nasdaq (US) (May 3) | ▲ 0.2% |
| S&P 500 (US) (May 3) | ▲ 0.3% |
Fact of the day
India got its first unicorn, or startup valued at over $1 billion, in 2011. Eleven years on, the country has 100 unicorns.
Source: Times of India
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