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Big deals happened on Friday, May 22, with three companies seeing nearly ₹1,800 crore in block trades. Paytm, JSW Cement, and Pine Labs had shares change hands. A CNBC-TV18 report mentioned SAIF Partners might sell in Paytm. These companies are trading below their initial prices.
LIC shares jumped over 4% on Friday, May 22, after strong Q4 results. Citi sees "83.5% upside" for LIC, calling its valuations "benign." Despite strong operations, Citi cautioned about "promoter holding structure" as an overhang. Many analysts have "buy" ratings, with only one "sell."
ITC shares are trading near their lowest target price. Citi set a ₹290 target, calling the Q4 results "not comparable" due to tax changes. While cigarettes showed good volume growth, FMCG did even better. Analysts are watching Q1 FY27 closely for the full tax impact.
Nifty might stay in a flat zone because of mixed global and local news. Analysts said, "The PCR stands near 0.94, indicating balanced positioning." This means the market is likely to move sideways, with strong resistance up high and support down low, as investors wait for clearer signals.
Oil India plans a big production boost in 18 months! Chairman Ranjit Rath said, "we will change the narrative [about OIL's production]." New infra, like the Duliajan feeder line, will help move more gas. They're also drilling 100 wells this year and expect Mozambique gas by late 2028.
SEBI wants to change how IPO and relisted stock prices are found. They think the current system might be messing with prices. SEBI said, "concerns about the current dummy price band system." This change aims for fairer prices and less artificial buying pressure right at the start.
The government is selling its stake in Central Bank of India, with shares offered at ₹31. Dalmia Bharat is buying cement assets for ₹2,850 crore. Eicher Motors and Volvo Group are forming a financial services joint venture. Exato Technologies got orders worth ₹24.57 crore, and Carysilnox expanded its steel sink production.
Arvind Panagariya, head of the 16th Finance Commission, advised the RBI to let the rupee weaken instead of using reserves to defend it. He said, "100 is just a number," urging the central bank not to let the Rs 100-per-dollar mark dictate policy. He believes defending the rupee would drain reserves.
Oil prices jumped on Friday because people aren't sure if US-Iran peace talks will work out. Worries about the Middle East and oil supply caused this. A source said, "no deal has been reached with the U.S." but things are getting closer. Still, the market is set for a weekly drop.
Dalmia Cement is buying cement plants from Jaiprakash Associates for ₹2,850 crore. This deal, after Adani took over, will help Dalmia grow in central India. The company said it has "signed a deal to acquire key cement assets." This move boosts their capacity and gives them quicker access to new markets.
India's looking at ways to fix its current account deficit because the rupee is falling and exports are down. Minister Piyush Goyal said, "We are monitoring the situation." The deficit grew, and the rupee weakened due to global issues like the Iran war. They've also raised import duties on gold and silver.
LIC's profit jumped 23% in the March quarter to ₹23,467 crore, thanks to more premiums and better investment returns. Despite worries about global tensions, LIC is aiming for "double digit growth in new business premium income." They also recommended a ₹10 dividend per share.