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Brokerage house ICICI Securities on Friday reported a one per cent decline in profit after tax (PAT) at Rs 271 crore for three months ended June 2023. In comparison, the company reported a PAT of Rs 273.6 crore in the year-ago period, ICICI Securities said in a regulatory filing.

The stock quoted a 52-week high of Rs 101.44 and a 52-week low of Rs 65.2.

Indonesia bans the use of cryptocurrencies as a means of payment, but allows investment in the assets. Such investment boomed during the pandemic, with data showing that as of June, 17.54 million people in the country had invested in the digital assets, more than the number of investors registered with the stock exchange.

The Relative Strength Index of the stock stood at 49.45 on Friday.

​RBL Bank was very cheap at that time. HDB Financial was very cheap. Today what has happened is that all of these stocks are completely discovered as good as a public market stock.

A company can be delisted by buying out just 90% of its holding. This may result in some minority shareholders left out despite the delisting. This creates ongoing compliance challenges and becomes expensive for the delisted companies.

“What happens in this space is that there is a valuation asymmetry because of lack of information. For example, in the case of PharmEasy or Reliance Retail, once the price starts going up, investors start seeing price as a value because there is no way to decipher what is the real value and that is where some people get burnt.”

Retaining its price target, Macquarie, in a note, said that it did not ascribe value accretion from JFSL (erstwhile Reliance Strategic Investments). With the key tactical catalyst in the form of demerger behind now, Macquarie sees RIL shares underperforming on the likelihood of lower earnings going ahead, it said, estimating the FY24-25E net profit at 15%-20% below the visible alpha consensus.

Hindustan Unilever on Thursday reported 6.9 per cent rise in consolidated profit after tax at Rs 2,556 crore for June quarter 2023-24 riding on a gradual recovery in the FMCG industry despite operating in challenging environment.

A total of 25,876 shares changed hands on the counter till 12:26PM (IST).