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"A correction in the equity market can pose a significant risk to EV because of its large equity investment book, especially in the non-participating segment," the brokerage said.

“The Supreme Court has very often gone against its own judgments as we saw in the case of 2G spectrum auction where it said that no it should not have been done on the first cum first serve basis, it has to be done by auction for 2G. Again in the case of privatisation, the Supreme Court has repeatedly entertained petitions against privatisation.”

The year 2022 for economies across the globe was marked by resilient growth, high inflation, and hawkish policy. The year ahead is expected to diverge to weaker growth in advanced economies, disinflation, and the end of rate hikes. It is reasonable for investors to expect different outcomes and build a resilient portfolio.

Kotak Institutional Equities initiated coverage on LIC with a buy rating and a target price of Rs 1000 which translates into an upside of over 40% from Rs 709 recorded on 2 January 2023.

The brokerage firm Jefferies assigned buy rating to Piramal Pharma with a target price of Rs 150, implying an upside potential of 20% from the current market price of Rs 125.5 per share.

"In money management, being independent is very important. Having an independent thought process is very important because most often we invest like a crowd or like a herd and herds in the long term do not make money. Retailing independence is important, independence comes from asking the right questions and this particular experience sometime in the year 2000 or 2001 was a very important starting point for me in the journey of asking the right questions about anything and everything."

The stock traded at a P/E multiple of 23.92, while the price-to-book value ratio stood at 9.13.

As of 31-Mar-2022, promoters held 30.3 per cent stake in the company, while FIIs held 24.67 per cent and domestic institutional investors had 17.27 per cent.

Ashok Leyland Ltd., incorporated in the year 1948, is a Large Cap company (having a market cap of Rs 43636.61 Crore) operating in Auto sector.

A total of 705 shares changed hands on the counter till 11:43AM (IST).