IRCTC stock price rallies as LIC bought additional stake in the company

The Markets Today in a nutshell

• Domestic benchmark indices ended on a negative note.
• Global investors were rattled by a surprise monetary policy shift by the Bank of Japan. BoJ stunned markets by deciding to review its yield curve control policy and widen the trading band for the 10-year government bond yield. Investors were concerned that aggressive monetary policy moves by global central banks could push the world economy into recession.

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News you could use

? JSW Steel share price ended lower as Nomura retains ‘reduce’ rating 
Nomura retained its ‘reduce’ rating on the stock. The Japanese research firm has maintained its rating on the stock with a target of Rs 570 per share, a downside of 29 percent from the current market price.

? IRCTC stock price rallies as LIC bought additional stake in the company
Life Insurance Corporation of India (LIC) bought an additional stake in the company. LIC has bought an additional 2.27 percent stake in IRCTC, between October 17 and December 16 this year, via open market transactions. With this, LIC’s shareholding in IRCTC increased to 7.278 percent, from 5.005 percent earlier.

? Just Dial stock price declined after the promoter sells 2 percent stake
Promoter Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries, is planning to sell a 2 percent stake in the company through open market transactions for achieving minimum public shareholding.

News from the IPO world?

• IPOs in 2022: Fund mobilization halves to Rs. 57,000 crore 
• Fintech player Zaggle files papers with SEBI for IPO
• Radiant Cash Management Services IPO to open this week

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