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I think if you look at as a company, ICICI Lombard has got a market share of 8.2% but if you look at maybe the retail health space, particularly in the indemnity side, we would possibly have a market share of maybe 3%. And that is clearly the opportunity that one sees.

Market insiders note that the sideways-to-downtrend movement of Nifty in the last one-and-a-half years is gradually throwing weak hands out of the Street. The work-from-home culture during Covid-related lockdowns had made trading fashionable among youngsters who could easily punch orders away from the prying eyes of their bosses.

Anand Tandon sees a positive near-term outlook for India as incremental news flow has been positive and the RBI has put off raising interest rates. The challenge is to identify cheap sectors as those with high earning visibility have already performed well. Banking, the largest driver for earnings for the current year, has done quite well, hence the challenge is to find new sectors to invest in

The IPO is entirely an offer for sale (OFS) by promoters and existing investors who are looking to divest their stakes in the Delhi-based pharmaceutical company. The total equity shares on the block will be 40,058,844 according to the red-herring prospectus (RHP) filed by the company.

At the interbank foreign exchange, the domestic unit opened weak at 82.10 against the dollar, then fell to 82.11, registering a decline of 7 paise over its last close.

.In view of the better-than-expected margin outlook, the brokerage increases its EPS estimates for FY24E/FY25E by 15%/9%.

In the Sensex pack, Infosys was the top laggard, falling over 1%. Asian Paints, Sun Pharma, HUL, HCL Tech and Nestle also opened lower. On the flip side, Tata Steel, M&M, L&T, HDFC, HDFC Bank and Power Grid opened with gains.

Brokerage firm UBS maintained its buy rating on Zomato, B&K Securities initiated coverage with a buy rating on Titagarh Wagons, and Morgan Stanley maintained its overweight rating on ICICI Lombard.

Granules’ share price has been in a corrective phase for past six months and underwent a healthy base formation in past 12 weeks, thus offering fresh entry opportunity with decent risk-reward setup.

As of 31-Mar-2023, promoters held 59.45 per cent stake in the company, while FIIs held 23.11 per cent and domestic institutional investors had 3.91 per cent.