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A total of 50,679 shares changed hands on the counter till 01:39PM (IST).

“LIC IPO is right sized, given the constraints in the market. LIC IPO will not crowd out capital and monetary supply in the market,” said Tuhin Kanta Pandey, Secretary, DIPAM, which is the government agency that looks after investments and divestments.

Last month, the BSE said that registered investor accounts in India had touched the Rs 10 crore mark. The BSE had reached 1 crore investor accounts in 2008.

Promoters held 54.92 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 16.53 per cent and 0.14 per cent, respectively.

In a regulatory filing by the rating agency the company informed the bourses that Ajay Mahajan has resigned as the managing director and chief executive officer (MD and CEO) of the company citing personal reasons. Following the development, CARE Rating tumbled 18 per cent to Rs 450 on Wednesday, its new 52-week low, before trading at R 458.35 at 11.45 am. The scrip had settled at Rs 548.60 on Tuesday.

The footwear manufacturer is eyeing to raise Rs 1,400.16 crore via its initial stake sale, which is entirely an offer for sale from the promoters and existing shareholders. The issue was subscribed 1.24 times by the end of day 1.

As of 31-Mar-2022, promoters held 51.45 per cent stake in the company, while FIIs held 19.49 per cent and domestic institutional investors had 9.06 per cent.

Aditya Birla Sun Life’s share price dropped to a low of Rs 520 as against Rs 540.65 at previous close on the BSE. The stock was last trading 2.6 per cent lower.

Nirmal Bang Institutional Equities expects HUL to post a volume decline of 4 per cent YoY after seven quarters as it feels that the market growth has softened. It sees a 7.1 per cent YoY growth in sales. This is after including the nutrition business. This brokerage sees profit rising 4.3 per cent YoY to Rs 2,194 crore.

“Bajaj Finance is a great franchise but it is quoting at seven times price to book on an FY23 basis and where growth is not looking good and more importantly, over the next one or two years, there is going to be a compression in margins. Our clear cut takeaway is to move out from Bajaj Finance and move into something like ICICI Bank or AU Bank where one is getting a good franchise at a reasonable valuation.”