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The underperformance in the stock was because the Street saw limited earnings upgrade triggers and lower visibility on event-based triggers such as listing of Jio and/or Reliance Retail, besides concerns over high capex and resultant rising net debt.The initial euphoria around RIL’s foray into the financial services business also faded given the lack of visibility on the business roadmap ahead

Samvardhana Motherson has entered into a partnership with Honda Motor under which it will form an 81:19 strategic partnership with the latter where both partners will drive the company towards a strong and sustainable future and be fully prepared for next-generation products and technologies, SAMIL said in a regulatory filing to the stock exchanges on Tuesday

GIC will hold a majority stake of 74% and controlling rights in the platform, while Genus will hold the remaining 26%. The platform will have an exclusive supply contract for smart meters with Genus

Ahead of the IPO, Senco Gold raised Rs 121 crore in the anchor round, which saw the participation of marquee investors, including Nippon MF, White Oak, Jupiter asset management, Bandhan MF, and 3P India Equity Fund, among others. 3P India Equity Fund is owned by Prashant Jain.

“We continue to like largecap pharma stocks. Aurobindo Pharma has done well, coming up from the bottom and they are getting their act right. That is a bit of an outlier but looks interesting at these prices. So our top picks out there are Sun Pharma and Dr Reddy’s, followed by Aurobindo.”

FSN E-Commerce, the parent company of Indian fashion and beauty e-tailer Nykaa, has been downgraded from largecap to midcap category by the Association of Mutual Funds in India (AMFI) following a 42% drop in share price from its 52-week high. Nykaa was not the only firm downgraded to midcap, with Tata Elxsi and Info Edge among those also demoted. The market value of 100 stocks places them in the largecap category, while those ranked between 101 and 250 form the midcap category.

As of 31-Mar-2023, promoters held 0.0 per cent stake in the company, while FIIs held 15.21 per cent and domestic institutional investors had 4.59 per cent.

​So, it is not that blocks have not been pretty prevalent over the last few quarters, in fact it has been. It is just that the momentum has picked up very significantly in June and the factors are one, the corporate earnings are very strong and FPI investors are back in a very-very significant way.

On the technical charts, the RSI of the stock stood at 54.78.

Under the proposed merger scheme, approved by the two companies, IDFC shareholders will get 155 shares of IDFC First Bank for every 100 shares they hold