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The board of Fedfina, a non-deposit taking and systemically important non-banking finance company, has on Monday given its nod for the plans to float an initial public offering (IPO) by way of fresh issue of equity shares and offer for sale.

A sudden price shock in any item may result in it having a disproportionate influence on households’ inflation perception and future expectations.

“To give an alpha push to your portfolio you have to move on to the next set of stocks but wherein one the quality of the company, the credibility of business promoters is not under question.”

"The market movement will be determined largely by earnings growth and not by multiples which have re-rated all through last year."

After falling just 1% earlier in the day, the interest rate sensitive technology sector bounced back and brought the broader indexes with it. Technology-laden Nasdaq closed up 1.4% marking its biggest daily gain so far this year.

The state-run insurer plans to file the draft IPO prospectus in the week starting Jan. 31, which will provide the embedded value of LIC as well as the number of shares on offer, the people said, asking not to be identified as the deliberations are private.

In another transaction, Way2Wealth Brokers sold 124,492 shares of Sungold Capital.

Benchmark indices climbed higher for the third consecutive day on Tuesday ahead of Q3 earnings announcements by IT heavyweights. Investors believe the earnings season will come with a positive surprise. The 30-share pack Sensex rose 221.26 points or 0.37 per cent to close at 60,7616.89. Its broader peer NSE Nifty climbed 52.45.80 points or 0.29 per cent to 18,055.75.

Options data does not present any clear picture, the maximum Call OI has shifted higher to 18,500 levels

News reports, citing the police, have said the industrial chemical that leaked on January 5 was allegedly collected from Hikal in Taloja of Maharashtra. Hikal management clarified that the leak did not come from the tanker that was from Hikal.