Latest Stock Market News

The equity issue will lead to a 12 per cent dilution on the current equity base.

“Trading volumes have gone up. On the cash side, we are seeing that the volumes are a little lower on high volatile days, particularly on the downward side, we suddenly see surges. So there is some intelligent buying happening. There is conviction amongst investors in the market but indeed the average ticket size, particularly in February, saw a contraction relative to the previous months.”

As many as 320 stocks have delivered negative returns in the last five trading sessions.

​​ Persistent foreign fund outflows and a weak trend in domestic equities too weighed on the local unit, forex traders said.

“We would believe that a multiple of 2 to 2.25 or something like that for an embedded value should be more in order, which is at a discount to the likes of HDFC Life or ICICI Pru. That would give a range of Rs 9.5-10 lakh crore or 11 lakh crore. That would imply an IPO size of about Rs 50,000-52,000-55,000 crore.”

A break below the minor low at 16,200 does suggest that selling pressure has not abated as yet.

The Nifty Pharma index closed 0.34 per cent down at 12600.15.

The said Tier I bonds are perpetual in nature. However, it can be called back by the issuer after the fifth year from the deemed date of allotment.

Larsen & Toubro Infotech Ltd., incorporated in the year 1996, is a Large Cap company (having a market cap of Rs 105918.68 Crore) operating in IT Software sector.

As of 31-Dec-2021, promoters held 30.3 per cent stake in the company, while FIIs held 24.42 per cent and domestic institutional investors had 19.75 per cent.