Indices at previous closing
Nifty50: 15,842 ▲ 60 (+0.3%)
Sensex: 52,973 ▲ 180 (+0.3%)
Nifty Bank: 33,597 ▲ 476 (+1.4%)
For more updates on F&O, click here.
Good morning, people!
Bulls fought hard yesterday to close the markets in the green. We really hope bears don’t make a comeback today. Anyhoo, the event that’s on everyone’s mind today is the LIC listing. All the best guys!
⭐Tata solar powers up 🌞
Tata Power’s solar energy subsidiary has landed a 300-megawatt project. This order from NHPC is worth ₹1,731 crore. The project aims to produce 750 million units of energy annually, and reduce carbon emissions. Located in Rajasthan, the project will be completed in 18 months.
⭐ Raymond suits up 👔
Apparel manufacturer and retailer Raymond's net profit rose over 3-fold year-on-year to ₹263 crore in the March quarter. This was driven by recovery of demand to pre-pandemic levels, and effective cost management. The revenues also grew by 44% to ₹2,032 crore.
⭐ LIC lists today ✌
Finally, the wait ends. India’s life insurance giant will list today! The state-owned company’s ₹20,557 crore IPO was subscribed 2.95 times. Its price has been fixed at ₹949 per share, which is at the upper limit of the IPO price band. Meanwhile, policyholders and retail investors have been allotted shares at ₹889 and ₹904 per share, respectively.
Sectoral indices (May 11)
| Top gainers | Top losers |
| Bank
▲1.4% |
IT
▼ 0.7% |
| Auto
▲2.2% |
FMCG
▼ 0.3% |
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.2% |
| Nikkei 225 (Japan) | ▲ 0.2% |
| Hang Seng (Hong Kong) | ▲ 1.8% |
| SSE Composite (China) | ▼ 0.3% |
| Dow Jones (US) (May 16) | ▲ 0.08% |
| NYSE (US) (May 16) | ▲ 0.01% |
| Nasdaq (US) (May 16) | ▼ 1.2% |
| S&P 500 (US) (May 16) | ▼ 0.3% |
Fact of the day
The US was India’s top export destination in FY22, with total exports worth $76 billion.
Source: Business Standard
We'd love your thoughts on this morning update.
If you haven't already, open your Upstox account to get IPO-ready today! Click here to sign up.
To catch our latest educational videos, join our Telegram channel here.
Disclosures and Disclaimer
Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.
Download the Upstox App Today