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A total of 2,250 shares changed hands on the counter till time (IST).

The government sold 100 billion rupees ($1.2 billion) of the 2073 bond at a cutoff yield of 7.46%, the Reserve Bank of India said in a statement. That’s lower than the 7.48% forecast in a Bloomberg survey. Investors, including insurers, probably lapped up the paper as they had expressed strong interest before the auction to lock in higher yields to take care of long-term commitments.

As of 30-Sep-2023, promoters held 38.02 per cent stake in the company, while FIIs held 20.29 per cent and domestic institutional investors had 11.02 per cent.

The stock quoted a 52-week high of Rs 2138.1 and a 52-week low of Rs 1434.6.

“On the NIMS front, they are past the peak. However, the banks have other levers to pull. For instance, the opex growth is at a much higher pace than what I would call the normal pace. All the banks have built up a decent amount of credit cost buffers and they would start using that to make sure that the earnings trajectory is smoothened out to a certain extent.”

During this rally, 6 large and midcap stocks managed to hit new 52-week highs

“We have seen a reduction in volume in Q2 as compared to Q1 because there was a significant pre-buy in Q1 that happened because of the CPCB4 norm change. And because of that volume reduction, we have the operating leverage not kicking in and therefore a knock on margins per se in Q2. At the half year level though, we are well on track.”

“Near term, some of the hospital results which have come up, show some stress on margins. We need to let the results, etc. come out and then we can evaluate. Structurally, it is a good story but we have to buy at the right prices because we cannot be buying at any price and at any valuation.”

The Relative Strength Index of the stock stood at 49.33 on Friday.