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According to Morgan Stanley, the current inflationary cycle could last longer than the previous two cycles and the steep price hikes could hurt the volume growth mix. The surge in crude oil prices to multi-year highs are further adding to the pain, it said.

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GameStop and AMC were the top two most trending stocks on the retail investor-focused stocktwits.com on Wednesday.

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"OMCs are not the better bet at this point, they will benefit only if there is a fall in crude oil prices. Oil explorers will be in demand because every $10 increase in crude oil prices boosts their EPS by 20%," said Amit Gupta, vice-president and fund manager, ICICI Securities PMS.

In its requisition, the offshore investor had asked ZEE’s board to conduct an extraordinary general meeting (EGM) of the shareholders to vote on removal of Goenka and two other directors – who have quit since then – and induction of six new independent directors.

Buy Cummins India, target price Rs 1135: IIFL

Updated at : 2022-03-24 08:30:02

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Promoters held 51.0 per cent stake in the company as of 31-Dec-2021, while FIIs owned 12.54 per cent, DIIs 23.75 per cent.

The Srei Group on Wednesday published a provisional list of eligible prospective resolution applicants The list mentioned as many as 14 interested entities including Assets Care & Reconstruction Enterprise Ltd, Asset Reconstruction Company (India) Ltd, International Asset Reconstruction Company Pvt Ltd, JM Financial Asset Reconstruction Company Ltd, Prudent ARC Ltd, Edelweiss Alternate Asset Advisors Ltd.

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Several mutual fund schemes had subscribed to the IPOs of these companies last year. Some of them raised their stakes in these companies after listing. As of February 28, 2022, mutual funds held 9.1 million shares of Nykaa compared to 4.8 million at the time of listing.

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The base deal would be for 28 million equity shares, representing 1.41% of total shares outstanding, with a greenshoe option of 12 million equity shares, representing 0.60% of total shares outstanding in case of oversubscription, according to a term sheet.

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The Dow Jones Industrial Average fell 58.62 points, or 0.17%, at the open to 34,748.84.

Options data helps us fairly conclude that unless the zone of 17,350-17,500 is taken out convincingly, there are greater possibilities of the markets facing corrective pressure at higher levels.

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