Latest Stock Market News

Emkay Global has retained its sell call on the stock due to slower growth, ongoing concerns around asset quality and subpar return ratios when compared with other public sector banks. It has valued the stock at Rs 35.

As of 30-Sep-2021, promoters held 51.5 per cent stake in the company, while FIIs held 7.21 per cent and domestic institutional investors had 3.92 per cent.

As per the data provided by National Stock Exchange (NSE), investors made bids for 74,69,725 equity shares as of 12.20 pm, against the total issue size of 1,14,64,664 equity shares. The retail portion was subscribed 1.89 times, whereas NII and QIB quota did not see any bids till the time of writing this report.

“A mistake can be made by anyone, why only government companies? Many times, private companies make mistakes even more glaring than this”

The Relative Strength Index of the stock stood at 50.69 on Monday.

Both the bottomline and topline of the company were aided by a low base in the year-ago quarter and improvement in demand in the said quarter.

The stock quoted a 52-week high price of Rs 5121.4 and low of Rs 2226.0.

Digital firm One97 Communications, which operates under Paytm brand name, is set to come out with it Rs 18,300-crore IPO on November 8.

The NBFC recorded a standalone profit at Rs 606.54 crore for the quarter ending September 30, 2021. The Chennai-based company had reported standalone net profit at Rs 431.91 crore during the corresponding quarter previous year.

“Platform companies revenue growth will happen over time and for that one needs clarity. We will stay on the sidelines until there is some more clarity on whether IRCTC as a business model will evolve into a platform company which will grow the valuations. ”