Ruchit Purohit

Gautam Duggad, Head, Research, Institutional Equities, Motilal Oswal, believes valuations are now in the fair value zone and earnings would decide how they move. “Rising rates and monetary tightening will be headwinds and any correction in commodity costs and inflation would be a tailwind," Duggad said.

Equity valuations remain pricey despite corrections: India P/E multiples down but still more than peers

However, the multiple is higher compared with 16.4 times for the Jakarta Composite, 11.6 times for the Taiwan TAIEX and…

By Ruchit Purohit

May 19, 2022 4:00 am

The uncertainty in the markets was the main reason for the decline, LIC said. MR Kumar, Chairman, LIC, said, "We were not expecting a big listing as markets were jittery. It (stock price) will pick up as we go along." He further added that policyholders who have missed out on allotment during the initial share sale will pick up the shares now.

LIC makes weak market debut, stock falls 7.8%

The insurer’s shares made a day’s high of Rs 920 on the BSE and the day’s low was Rs 860.10…

By Ruchit Purohit

May 18, 2022 4:15 am

Despite the sharp selling in the markets and volatility across global markets the issue has been subscribed almost three (2.95) times. Overall proceeds from the IPO make up about a third of the government's Rs 65,000 crore disinvestment target for the current fiscal.

LIC shares to list on exchanges today: LIC’s listing will broaden investible universe, say analysts

LIC will play on the growth story of the under-penetrated insurance industry. The stock movement will also depend on the…

By Ruchit Purohit

May 17, 2022 1:30 am

The issuer would be required to file an updated DRHP (UDRHP -I) – which shall be made available to the public. The issuer and LMs (lead managers to the issue) can undertake marketing of the issue only after the filing of the UDRHP-I.

Sebi mulls confidential ‘pre-filing’ of IPO documents

In the discussion paper, Sebi said pre-filing of documents would be done confidentially with the regulator and the exchanges, and…

By Ruchit Purohit

May 12, 2022 6:15 am

The monthly SIP (systematic investment plan) contribution, too, witnessed a decline in April at Rs 11,863.09 crore against Rs 12,327.9 crore in the previous month. However, the number of SIP accounts stood at an all-time high in April at 53.9 million against the previous high of 52.7 million scaled in March this year.

Equity mutual fund inflows at Rs 15,890 crore in April, SIP contribution dips

According to the data, all 11 categories in the equity funds witnessed positive flows during the month. Sectoral/thematic funds saw…

By Ruchit Purohit

May 11, 2022 6:00 am

Allotment of shares will be finalised on May 12 and the insurer will list on the exchanges on May 17.

LIC IPO subscribed 2.9x on final day, issue attracts bids worth Rs 43,931 crore

The IPO received bids for 478 million equity shares against 162 million shares on offer. Prior to the offer, LIC…

By Ruchit Purohit

May 10, 2022 4:45 am

Demand from qualified institutional buyers and non-institutional investors continued to remain tepid. According to data available on the exchanges, NIIs bid for 76% of the total shares reserved, while the quota for QIBs was subscribed 56% so far.

LIC IPO subscribed 1.38x on Day 3; grey market premium declines by nearly 50%

Policyholders and employees have reposed faith in the company by betting big on the issue. The portion set aside for…

By Ruchit Purohit

May 7, 2022 2:45 am

Among Sensex stocks, Bajaj Finance and Axis Bank were the top losers, falling 4.9% and 4.1%, respectively. Overall, on the BSE, out of the 3,460 stocks traded, 2,616 declined on Friday.

Sensex plunges 867 points on global headwinds, equity benchmarks see massive sell-off

Prior to this, the US Federal Reserve raised interest rates by 50 bps, which is the highest in 22 years,…

By Ruchit Purohit

May 7, 2022 12:05 am

Interest from qualified institutional buyers and non-institutional investors remained somewhat muted on Thursday, as the portion set aside for these investors was subscribed 40% and 47%, respectively. Experts, however, said that demand from high net-worth individuals is typically seen on the last day of the issue.

LIC IPO fully subscribed on Day 2: Policyholder quota subscribed 3.11 times, employee quota subscribed 2.2 times

“The LIC IPO has been fully subscribed on the second day of its opening. There are still four more days…

By Ruchit Purohit

May 6, 2022 4:45 am

Retail investors can apply for the shares on Saturday, May 7.

LIC IPO: Policyholders lead subscriptions on Day 1; total issue subscribed 67%

The portion reserved for employees was subscribed 1.17 times, while the quota for retail investors was subscribed to the extent…

By Ruchit Purohit

May 5, 2022 4:30 am

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