Latest Stock Market News

The stock traded at a P/E multiple of 83.12, while the price-to-book value ratio stood at 7.32.

A total of 216,152 shares changed hands on the counter till time (IST).

The global crypto market cap jumped about 3 per cent to $1.72 trillion. The total crypto market volume, meanwhile, jumped more than 18 per cent to $82.53 billion.

Similar to tech companies then, valuation of new age tech stocks surged thanks to massive investment in their pre-IPO phase. The Indian startup scene, flushed with money, saw numerous investments in loss making companies notwithstanding their profit making abilities.

“Just let your money do some basic plumbing and do not lock your money for long term because most probably in the next five-six months you will get an opportunity to lock your money either in a 7.5%-8% bond or potentially a 12% CAGR in equity again when the final flush happens. In either of them, you will have an opportunity to dial. Until then, just stay out.”

“We expect the first half of 2022 to be volatile, driven by not just geopolitics but also fears on inflation and US interest rate hikes among others. In the second half of the year, the earnings recovery would start to take some shape and form. We have been advising investors to use the volatility in the first half to gradually and steadily get invested rather than on a lump sum basis.”

Kotak Mahindra Bank Ltd., incorporated in the year 1985, is a banking company (having a market cap of Rs 365384.78 Crore).

The Centre is planning to sell its entire 53% stake in BPCL. The Cabinet had cleared the strategic sale in November 2019. Expressions of interest (EoIs) were invited in March 2020.

The approvals may be more than just a formality in the backdrop of edgy India-Turkey relations and the fact that Ayci is seen as close to Turkish president Racep Tayyip Erdogan, considered as a Pakistan ally. Tata Sons had announced Ayci as the new Air India CEO on February 15.

Cholamandalam Investment & Finance Company Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 56778.38 Crore) operating in NBFC sector.