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For the financial year 2021-22, STL profit slumped by about 77 per cent to Rs 61.95 crore from Rs 275.47 crore a year ago.

Total assets under management (AUM) increased 8 per cent to Rs 1.27 lakh crore from Rs 1.17 lakh crore a year ago. Net interest margins, the difference between the interest earned by the company on loans and that paid on deposits, expanded to 6.96 per cent from 6.80 per cent a year ago.

The Relative Strength Index of the stock stood at 50.24 on Friday.

“As far as the broader market is concerned, The low for the year for S&P 500 was 4114. Therefore, it is right to assume that everybody who is trying to just buy a little bit here and try and bottom fish and try and hope for a turn in the market, has got the same stop because everyone is going to stop loss around 4110-4100.”

LIC’s IPO, which had previously been touted as India’s Aramco moment in reference to Gulf oil giant Saudi Arabian Oil Co.’s $29.4 billion listing in 2019, will test the depth of India’s capital market.

At least 10 new financial technology platforms have sprung up during the pandemic with the aim of grabbing a share of the $1.9 trillion market for bank time deposits. They promise much higher interest rates through putting money into company bonds, which are generally seen as riskier higher-yielding debt.

A total of 87,772 shares changed hands on the counter till 10:35AM (IST)

Mahindra Lifespace Developers Ltd., incorporated in the year 1999, is a Small Cap company (having a market cap of Rs 5751.13 Crore) operating in Real Estate sector.

According to the release, the deal has been sealed for 600 million Euros (about Rs 4,831.8 crore), wherein Varroc will be divesting its lighting System operations in the USA, Brazil, Mexico, Poland, Czech Republic, Germany, Turkey, and Morocco.

The LIC has set a price band of Rs 902-Rs 949 per equity share. The government intends to raise Rs 21,000 crore through the issue.