Nifty Under Buy on Dips: Being long in the market last week helped, as the benchmark index did move higher and fared reasonably. It was not all smooth sailing as intra-week volatility was visible. But bite was missing in the selling and sentiment repair was evident from the fact that the market made an attempt to move higher every chance it got, and breadth too was fairly broad-based.
Stock Market
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Gold Jeweler Joyalukkas Files for $300 Million India IPO [26-03-2022]
Gold jeweler Joyalukkas India Ltd. plans to raise as much as 23 billion rupees ($300 million) from an initial share sale, seeking to tap into the growing demand for the precious metal in the world’s second-biggest consumer.
Motherson Sumi Surges After Securing First Order From Boeing
Shares of Motherson Sumi Systems rose over 5%, the most in seven sessions, after the company bagged its first order from Boeing.
L&T Secures Significant Orders In Construction Business
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HDFC Bank Jumps As Analysts Expect Lender To Benefit From Easing Of Curbs By RBI
Shares of HDFC Bank rose over 2.7% as analysts expect the lender to benefit from the removal of restrictions placed by RBI.
Jubilant FoodWorks CEO’s Exit To Add To Risks, But Remain Confident Of Long-Term Story
Analysts expressed surprise over the sudden resignation of Jubilant FoodWorks’ CEO and Wholetime Director Pratik Pota, since his re-appointment as CEO for three years from April 2022 to March 2025 was approved by the company.
India’s Stock Valuation Not Cheap Despite Sharp Plunge: Jefferies
India’s Stock Valuation: India’s NSE Nifty 50 Index is trading at 18 times its price-to-equity ratio and 2.8 times its price-to-book, valuation levels that are still a premium to its long-term average, according to Jefferies analyst Mahesh Nandurkar.