Sensex drops 300 pts, Nifty tests 18k; IT, Realty, Pharma drag
Shares of companies like Bajaj Auto, ICICI Lombard General Insurance Company, Larsen & Toubro Infotech, JSW Energy, Aptech, Ceat, Mastek, Rallis India, Tata Communications, Tata Investment Corporation, and Tejas Networks will be in focus as they announce their December quarter earnings today. Stocks are on track to hit a new low for the year while bond yields surged on Wall Street Tuesday amid renewed jitters that the Federal Reserve will lift interest rates to tackle rising inflation.
BUY Angel One: ICICI Securities
Strong earnings growth continues; benefiting from increasing retail footprint on capital markets
Angel One (Angel) successfully maintained its business momentum in Q3FY22 with 110%/23% YoY/QoQ PAT growth. We estimate PAT to clock 37% CAGR between FY21-FY24E and we value the stock at 22x FY23E EPS of ₹86.5 (earlier: ₹74). Maintain BUY with a revised target price of ₹1,900 (earlier: ₹1,630).
Nifty tests 18,000
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Most active stocks on Nifty
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AGS Transact Tech IPO opens today
The initial public offering (IPO) of AGS Transact Technologies will open for subscription today. The price band of the three day initial share-sale has been fixed at ₹166-175 a share, which will conclude on Friday, January 21. The payment solutions provider raised ₹204 crore from anchor investors ahead of its issue.
Nifty at open
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Sensex over 250 points down at open
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Sensex in pre-open
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Nifty in pre-open
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Oil rises to 7-year high as Turkey outage adds to tight supply outlook
Oil prices rose for a fourth day to a seven-year high as an outage on a pipeline from Iraq to Turkey increased concerns about an already tight supply outlook amid worrisome geopolitical troubles in Russia and the United Arab Emirates.
Brent…
Read More: Sensex drops 300 pts, Nifty tests 18k; IT, Realty, Pharma drag