Since the LIC Act has no provision for foreign investments, there is a need to align the proposed LIC IPO with Sebi norms regarding foreign investor participation.

“A 5-10% correction is possible anytime, 10% plus will make it a bit serious.I am not expecting that till the end of the year. ”

“There is little scope of significant outperformance in earnings in Q2 because a lot of the costs which were not there last year have come back into the system. People are advertising and business travel has started as well. ”

The market capitalisation (Mcap) of Tata Consultancy Services declined Rs 52,526.53 crore to reach Rs 13,79,487.23 crore.

The New Delhi-based company is also looking to sell its stake in NTPC-SAIL Power Co., a joint venture with Steel Authority of India Ltd. for supplying electricity to the steelmaker’s mills and townships.

This week, market participants will be keenly watching RBI monetary policy which is likely to provide momentum to Dalal street. Q2 earnings and India’s service PMI readings would also be keenly watched.

All three major U.S. stock indexes seesawed earlier in the session, but began trending higher by late afternoon, led by economically sensitive cyclicals.

As per Issue of Capital and Disclosure Requirements norms, an application for a rights issue shall be made only through the ASBA facility.

In a regulatory filing, the company said the votes of one of the major shareholders, Jinendra Munot, who is also a board member were wrongly recorded "due to a technical glitch during his online voting that incorrectly or inadvertently took his voting as negative instead of positive, which was his intention".

"Ultimately, you need carbon, you need fossil fuels, because that is more than 75 per cent of the world’s energy requirements. In this crossfire, the prices are going up, and therefore, the markets going down, as it creates an input pressure right from factories to even countries."