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In the run-up to the mega IPO, on February 13, the government had filed the draft red herring prospectus (DRHP) with the regulator giving details of financial results till September. The DRHP got Sebi approval early this month.

“Whenever there is a transaction, in the initial year, the cost of doing the transaction and amortisation is reflected before the synergy revenue can start kicking in. For the first year, on the EBIT side, we are expecting this to have a 45 to 50 bps impact but we are very confident that as we go ahead and integrate the organisation into our fabric and take these services to our customer base over next -3 years, we expect this to be much more accretive to the EPS side.”

A common investment phenomenon witnessed in markets worldwide at different times is ‘herding’ - a process where investors essentially place bets imitating the decisions of previous investors without sufficiently considering information on a stock or their own views.

Five top-performing mutual fund schemes delivered up to 47 per cent returns in the last one year against a 16 per cent rise in the BSE Sensex, data compiled from publicly available figures with Value Research suggests.

During the previous market corrections, Bank Nifty was able to bounce back — leverage is a two-way sword; banks benefit immensely during a good cycle — and eventually wipe off the underperformance. Since Covid, however, the Bank Nifty has continued to lag.

The shares were bought from promoter Shri Sukumar Srinivas at Rs 755 per share.

Vinayak Yannam, Co-founder and CBO, Sportzchain said, "We are keen to develop the sports NFT market in India. We are extremely thrilled to be the first in the ecosystem to launch the phygital collectibles of a Kabaddi team. Previously, fans had no medium to buy such memorabilia, especially one that honors a team’s achievements."

Bank, auto and financial services sectors were among the worst performers, while metal stocks shone. Some consumer names fell as they mulled another round of price hikes.

At the interbank foreign exchange market, the rupee opened at 76.08 against the American currency, then lost further ground to settle at 76.15, down 31 paise from the previous close. On Thursday, the rupee spurted by 37 paise to close at 75.84 against the US dollar. The forex market was closed on Friday on account of Holi.

When it comes to global investments, we believe passively managed exchange traded funds (ETFs) are a more efficient way to invest in equities. This avenue is extremely popular especially when it comes to developed markets. The assets under management for some of these ETFs are a testimony to that.