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“In the current scenario, the amount which we can invest in foreign and the mutual fund industry is capped in terms of foreign investments. So incrementally, we are buying only Indian stocks but we are not looking to sell foreign stocks and invest that money into India,” says the CIO of PPFAS MF.

The brokerage expects a 20% EV CAGR over FY22-24E driven by NBV CAGR of 22% on the back of improving margins to ~27.5% levels into FY24E. It maintains BUY with target price of Rs 1,430, valuing the insurer at 2.5x FY24 EV.

Promoters held 30.3 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 26.19 per cent and 17.5 per cent, respectively.

For the quarter ended 31-03-2022, the company has reported a Consolidated Total Income of Rs 1426.12 Crore, up 37.91 % from last quarter Total Income of Rs 1034.09 Crore and up .68 % from last year same quarter Total Income of Rs 1416.45 Crore. Company has reported net profit after tax of Rs 231.90 Crore in latest quarter.

The Relative Strength Index of the stock stood at 46.82 on Monday.

Following the Q4 results, Tata Chemicals zoomed 8.4 per cent to Rs 1,019.80, before trading at Rs 1,017.75 at 9.30 am. Shares of the company on Friday closed at RS 940.75, down 1.90 per cent on BSE.

IT company Wipro on Friday posted a 4 per cent increase in its consolidated profit to Rs 3,092.5 crore in the fourth quarter ended March 31, 2022, on account of continued demand for IT services.

Musk advised people to buy stocks in companies that make products and services they believe in.

The stock rose more than 5 per cent in a week, and over 12 per cent in a month – outperforming benchmark indices in the same period.

A total of 151,174 shares changed hands on the counter till 11:51AM (IST).