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The Indian stock market has been one of the best-performing markets in the world over the last 3 months. Over the last 1 year, 3 year, and 5 years, the Nifty 50 has delivered a CAGR of 21.6%, 23%, and 12.4%, respectively. This strong performance has been driven by the confluence of a number of factors. Notably, over the last 2 years, two very significant events have transpired

The exchange filing further said that the trading window of the company for trading in the company’s equity shares has already been closed from Saturday, July 01, till the expiry of forty-eight (48) hours after the announcement/ declaration of the financial results of the company for the quarter ended June 30, 2023.

A total of 28,097 shares changed hands on the counter till 01:36PM (IST)

Following a 7% stake sale, the promoter stake has been reduced from 80.82% in Patanjali to 73.82%. Accordingly, the company has now become compliant with minimum public shareholding requirements of 75%.

The Relative Strength Index of the stock stood at 64.07 on Monday.

In the case of NIMs, we have guided for 7% to 7.5% and we have retained 7.3% on this. 44% of the secured portfolio has come from within that part. If we go to 50%, it will not change the guidance. We will continue to retain that 7% to 7.5%, says Bandhan Bank MD & CEO.

The stock traded at a P/E multiple of 70.03, while the price-to-book value ratio stood at 8.49.

The GDP growth and corporate results upheld much above the negative bias of the world, driven by stable domestic demand and consistent external orders. And this sanguine trend is expected to continue in Q1. Key high-frequency data from April to June has been robust like PMI, GST collection, Credit growth, and auto sales.

Last quarter, we had almost a 22% kind of upgrade in the estimates for ABB India. So, I would say yes, valuations have inched up because they are pricing in optimism and growth, up cycle growth, which typically happens 25% kind of CAGR in revenues, 30% CAGR in earnings.

As of 30-Jun-2023, promoters held 59.43 per cent stake in the company, while FIIs held 23.78 per cent and domestic institutional investors had 3.47 per cent.