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In the international market, gold was trading marginally higher at USD 1,878 per ounce and silver was flat at USD 22.39 per ounce.

The fund owned over 1 per cent stake in eight domestic stocks, as per the data compiled with Trendlyne.

“There is always hope when there is a startup that some big story will emerge but currently we are in a situation where people are looking out for hard numbers in terms of cash flow, profitability, ROAs, strong customer franchise, etc. Given all of that, the LIC IPO pricing is definitely looking very fair, reasonable ”

“Sebi will take a very harsh look at this and the perpetrators will face penalties and whatever other consequences that fall under the law. It is a matter of investigation. I am sure the mutual fund house has its own explanation for whatever has happened. Sebi will start the enquiry and once the enquiry is completed, then the consequences will follow.”

The company said its revenue from operations stood at Rs 11,959.96 crore, rising 15.41 per cent from Rs 10,362.60 crore from the corresponding quarter year ago.

“We have not seen panic selling yet. Coming to the Indian Nifty, I expect it to drop to somewhere close to 14,000 before this correction comes to an end. Maybe we can evaluate if it can go a little lower but at the moment, these are the minimum price adjectives.”

“One has to stay with the flow for the next five-seven-ten years and that is what insurance is Insurance, mutual funds, brokers or asset management companies are here to stay for the next 10-12-15 years as financialisation of savings is the new buzzword. We are seeing millennials across the board participating in this.”

The deal involves the no cash consideration. Larsen & Toubro Infotech said it would issue and allot 73 fully paid up equity shares of face value Re 1 each of the company for every 100 fully paid up equity shares of face value Rs 10 in the amalgamating company.

“The total value of a Bitcoin for example is less than the value of Microsoft and so when you think of different store holds of wealth, it is not very big. By the way, the gold market is not very big either! It is about five times the size if you take out central bank reserves and jewellery and they have issues.”

The pan-European STOXX 600 index declined 0.6% by 0709 GMT, with travel & leisure and technology stocks falling the most. Oil & gas stocks were the sole gainers as crude prices traded above $110 a barrel.