Latest Stock Market News

Five Star Business Finance, whose IPO also closes today, has seen only 48% bids so far. At the same time, Inox Green which opened on Friday garnered 12% bids and Kaynes Tech 33% on day 2 of the book-building process.

"Increasing non-participating mix (currently ~5% in APE mix as of Q1FY23) and change in surplus distribution policy are significant growth drivers of the value of the new business (VNB) and in turn embedded value (EV). This, against the strong growth outlook of the Indian life insurance (especially through the lens of sum assured), makes LIC a strong investment proposition considering it is currently trading at 0.73x FY22 price to EV," said the brokerage.

“In the tractor segment, EBIT margin has improved by 40 bps sequentially. It came close to 17% EBIT margin whereas on the other end, auto segment EBIT margin has also improved by 45 basis point to 6.1%. These two are not in line with the trend which we have seen for other companies and this is a positive surprise. ”

For more such web stories click on the ET icon below

For FY2022, the company declared an equity dividend of 87.30%, amounting to Rs 8.73/share. At the current share price of Rs 778.50, this results in a dividend yield of 1.12%.

“Going forward with at least the industry looking reasonably better than where it was, largely driven by how the supply chain has played out, the situation remains volatile but hopefully better. We expect the improvement to continue going forward as well,” says Kunal Malani

Aggressive rates rise in the US leading to elevated US yields along with monetary policy divergence in key economies are prime factors driving dollar strength. Idiosyncrasies in other safe-haven economies have also made the greenback a unilateral choice during times of faltering growth outlook and reduced risk appetite.

“Among the new age tech companies, Zomato stands out best simply because they have a business model which can be profitable as long as they like. They just have to focus on the current business. The reserves combined with commentary could get some upside in the stock near term and then investors will monitor the next few quarters.”

“Among the new age tech companies, Zomato stands out best simply because they have a business model which can be profitable as long as they like. They just have to focus on the current business. The reserves combined with commentary could get some upside in the stock near term and then investors will monitor the next few quarters.”

However, consolidated net profit declined 20% to Rs 213 crore in the second quarter that ended in September. The healthcare major had reported a net profit of Rs 267 crore in the July-September period of the previous fiscal.