News Wrap: Jubilant Foodworks Down By 12%; Govt Delays Lic’s IPO; India's Goods Exports Increased By 25.10%; Ruchi Soya surged By 20%; HDFC Bank Stock Flies
March 14, 2022:
Sensex, Nifty and Bank Nifty are all bullish today!
BSE Sensex is up by 935.72 points (+1.68%), a closing price of 56,486.02.
Nifty 50 rose by almost 240.85 points (+1.45%), closing price landed at 16,871.50.
Bank Nifty gets a boost of 765.9 points (+2.22%), closing price at 35,312.15.
Few indices like Nifty FMCG, Pharma, Metal, Healthcare ended in red whereas Nifty Bank, IT Auto, Media rose by 1 - 2%
BSE midcap and smallcap indices gained 0.019% and 0.31% each.
Trending Stocks On Encome.io Dashboard:
Jubilant Foodworks Tanks By 12%, Making A New 52 Week Low
The operator of Dominos Pizza India, Jubilant Foodworks is down by 12% in a day. The stock makes a new 52 week low today! The stock has been downgraded by the majority of brokerage companies. According to analysts, the company's capacity to retain talent is further harmed by recurrent exits at the senior management level.
The share price of Jubilant FoodWorks has surpassed its previous low of Rs 2,475.30, set last week. So far in the day, 4.07 lakh shares have been traded on the BSE, while 58.26 lakh shares have been traded on the NSEThe share price of Jubilant FoodWorks has surpassed its previous low of Rs 2,475.30, set last week. So far in the day, 4.07 lakh shares have been traded on the BSE, while 58.26 lakh shares have been traded on the NSE.
LIC’s IPO To Delay Further More!
The initial public offering (IPO) of India's largest insurer, Life Insurance Corporation of India (LIC), appears improbable in the fiscal year 2021-22. As the Russia-Ukraine crisis continues, the government may postpone the LIC's massive IPO because of market uncertainty.
While the Government has till May 12 to launch the LIC IPO without having to file new documents with SEBI, insiders claim that a listing in March is improbable due to the seesaw nature of news flow from the continuing Russia-Ukraine crisis.
More To Know:
N. Chandrasekaran, Chairman of Tata Sons, has been named Chairman of Air India.
On a year-over-year basis, India's goods exports increased by 25.10% in February 2022.
Ruchi Soya's stock surged 20% higher after the diversified FMCG business said its follow-on public offer of Rs 4,300 crore will be launched on March 24.
HDFC Bank's stock climbed sharply after the Reserve Bank of India eased limits on the bank's planned business-generating initiatives under the 'Digital 2.0' programme.
Food prices, as well as the cost of manufactured goods like apparel and footwear, kept India's retail inflation over 6% in February 2022, both sequentially and year-on-year.