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Closing Bell: Sensex snaps 3-day winning streak, down over 400 points
Indian equity benchmarks BSE Sensex and NSE Nifty50 snapped a three-day winning streak to end lower on Tuesday. Sensex closed 359 points lower at 55,566 while the broader Nifty shut shop at 16,585, 77 points lower.
Nifty Bank witness sharp decline
Midcap index sinks into red
LIC shares drop 3% as fewer policyholders pay renewal premium
Shares of Life Insurance Corporation of India (LIC) slipped over 3 percent on Tuesday after the insurer announced its earnings for the March quarter with the persistency ratios witnessing a dramatic fall compared to last year. (Read more)
Get ready to pay more for home loan, motor car insurance, flying from June 1
Come June 1, a slew of financial measures will kick in that are likely to impact the common man. From higher home loan rates to increased motor third-party liability insurance premium, customers will have to pay more for a number of products from next month. (Read more)
Organised pharmacy penetration only 3% in India: Gangadi Madhukar Reddy
Gangadi Madhukar Reddy, MD & CEO, MedPlus Health Services says, “Walgreens and Rite Aid (drugstore chain in US) have more than 6,000-7,000 stores out there. I see no reason why a country which is almost 3-times bigger and with stores, which is at least almost 20 percent of their size, why we should not basically be looking at a 10,000 or 20,000 store chain. If you look at it, while 4,000 does seem a little a lot, I see no reason why we should not be actually growing much faster to take the market out there. Today, organized retail has less than 3-4 percent.”
Buy Star Health with a target of Rs 250-260, Mahindra and Mahindra (M&M) with a target of Rs 1,250: Shrikant Chouhan
Shrikant Chouhan of Kotak Securities shares three trading calls
-Buy Aegis Logistics with a stop loss of Rs 205 and a target of Rs 250-260
-Buy Star Health with a stop loss of Rs 660 and a target of Rs 750-760
-Buy Mahindra and Mahindra (M&M) with a target of Rs 1,250
Radico Khaitan faces investors wrath as profits fall sharply on higher input costs
Radico Khaitan shares fell more than 5 percent on Tuesday, a day after the liquor maker announced its results for the January-March 2022 quarter. (Read more)
Can't immediately comment on crop losses due to weather conditions: Agriculture Minister Narendra Singh Tomar
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