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Shares of warship maker GRSE rallied 19% to hit a new 52-week high of Rs 781 on BSE after the company reported its best-ever net profit of Rs 77 crore in the June quarter. The firm saw a 54% rise in net profit as compared to the Rs 50 crore it reported in the year-ago period.

“If for the whole of the country, there are going to be only two food delivery companies, then the opportunity is much bigger and today maybe a 100 million customers out of 1.4 billion are using a service like this. Five years out, 200 million, 250 million of the middle class households might use that and then the frequency of use might improve.”

The Burman family, which owns a controlling stake in FMCG major Dabur, already owns more than 14% stake in Religare Enterprises through various entities. The news was reported by ETNow.

Rajagopal Menon, Vice President at WazirX, said, "Major market oscillators point to a Buy sentiment. The Relative Strength Index (14) sits at 45, with a neutral outlook. The Stochastic %K (14, 3, 3) at 39 and the Average Directional Index (14) at 13 indicate a Neutral outlook."

Promoters held 0.0 per cent stake in the company as of 30-Jun-2023, while FII and DII ownership stood at 15.43 per cent and 4.39 per cent, respectively.

Last year, Deloitte was appointed as the statutory auditor for a period of 5 years. However, the auditor had differences with the management regarding certain transactions, which were also flagged by US-based Hindenburg Research in its report in January.

The Relative Strength Index of the stock stood at 45.33 on Wednesday.

A total of 14,805 shares changed hands on the counter till 01:19PM (IST)

The existing SEBI regulations on delisting make the delisting process cumbersome as it requires RBB for price discovery. Presently, achieving the 90% threshold in the RBB process is essential for successful delisting, but concerns have been raised about potential manipulation during price discovery stating that, some operator(s) start cornering shares as the delisting is announced and collectively hold more than 10% stake in the company then to achieve 90% threshold their participation becomes inevitable, leading to a very high discovered price, which may not always be the fair price of the stock.

​ITC, incorporated in the year 1910, is a Large Cap company (having a market cap of Rs 558780.88 Crore) operating in Tobacco sector.