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Employees oversubscribing an issue indicates high confidence in the prospects of the business

In intraday trade, the Nifty Midcap 150 and Smallcap 250 hit lifetime highs. Among sectoral indices, realty, metal, pharma and consumer durables advanced the most, while fast-moving consumer goods and public-sector banks faced pressure.

As of 30-Sep-2023, promoters held 63.1 per cent stake in the company, while FIIs held 27.55 per cent and domestic institutional investors had 2.22 per cent.

Fedbank Financial is among the five private bank-promoted NBFCs in India. It focuses on catering to the MSMEs and the emerging self-employed individuals sector.

“We still have to look at a situation where one has to take an approach more from a bottom-up view. I do not think a largecap, smallcap thing potentially works too much. Look for wherever there is growth at this juncture but overall return expectations still have to be slightly low, heading into the next three to six months.”

On November 20, a group of noteworthy midcap stocks exhibited strong bullish momentum by surpassing their 50-day Simple Moving Average (SMA).

Data of investors with a public equity portfolio worth at least Rs 1,000 crore, the wealth of these individuals has gone up by 8-102% in the first six months of FY24

“The consumer story in India is going to play out over several decades. If you take just the mobile phone and internet penetration in this country and the cost of data, it is changing the habits of Indians. It is not just the sheer size of the population, it’s the 21-64 population group continuing to grow that will be an opportunity.”

The stock quoted a 52-week high of Rs 4066.1 and a 52-week low of Rs 2692.0.

“In India, premiumisation is something that has been happening and is going to continue, sustaining simply because we have that benefit of people being aware of brands a lot more, people having aspirations a lot more and knowing what they want. They are value conscious and that value also has some sort of bragging rights involved in that, which drives our belief.”