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The trade was likely due to a custodian selling the shares as they were not converted prior to July 24, which was the deadline for holders to surrender their ADRs.

The category reserved for non-institutional investors was subscribed 7%, and there were no bids from qualified institutional buyers.

On the technical charts, the RSI of the stock stood at 69.13.

​So, we have been scaling up this business in a very cost effective, as well as focusing more on the distribution and kind of technology and partnerships, which we have built up.

The banking regulator kept the repo rate unchanged for the third time at 6.5% while retaining the FY24 GDP forecasts of 6.5%. RBI Governor Shaktikanta Das revised the FY24 inflation upwards to 5.4% from an earlier 5.1%.

The stock traded at a P/E multiple of 37.61, while the price-to-book value ratio stood at 5.03.

CLSA, a global brokerage firm, has removed Eicher Motors from its India Focus Portfolio due to 7.6 ppt underperformance. The portfolio has outperformed the Nifty in all 10 quarters since its inception, beating it by a total of 77.7ppts. Banks and energy have the highest importance in the portfolio, each with a weightage of 25%, while the remaining 50% is divided equally among IT, NBFC, materials, utilities, healthcare, and industrials.

ETMarkets conducted an analysis of Tata Group companies that have demonstrated sales and profit growth exceeding 20% in FY23 as compared to FY22, and these companies have also experienced price gains of over 20% in FY24 thus far

The share allotment of SBFC Finance will likely be finalised on August 10. Investors will get shares on a lottery basis and the whole process will be supervised by the registrar.

While leaving the repo rate unchanged at 6.50% and retaining the policy stance of staying focussed on the withdrawal of accommodation came as no surprise to the market, RBI’s sharp hike in inflation estimate and the imposition of incremental Cash Reserve Ratio of 10% on banks took Dalal Street bulls off guard.