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The quota reserved for qualified institutional buyers (QIBs) was subscribed 98.47 times while the one reserved for non-institutional investors (NIIs) and retailers was subscribed 21.21 times and 4.1 times, respectively. Majority of the brokerage firms remain positive on the company citing its strong order book and growth prospects.

The aggregate loan assets and non-fund-based commitments against sanctioned loans stood at Rs 8,686 crore at end of March 2022. Loan assets aggregated to Rs 8,650 crore and outstanding non-fund-based commitments were at Rs 36 crore.

Bajaj Healthcare is a leading manufacturer of APIs, Intermediates and Formulations established in the year 1993. It specializes in manufacturing intermediates, API, formulations & Nutraceuticals. BHL has a strong presence globally in countries like Europe, the US, Australia, Africa, Middle East and South America.

The company, to push volumes in the second half of the financial year 2023, has cut iron ore prices sharply, the brokerage noted. The report said the company has been facing a dent in sales with a decline of 12% year-on-year YTD due to poor offtake from steel producers.

“ I am not a great fan of just jumping into something because it has done well. It is a question of where does the risk reward favour you and a large part of where risk reward favours always got to do with starting valuations being attractive. Jumping into a moving bandwagon of defence at this point of time is not my cup of tea. Maybe it fits other investors, but not my cup.”

Bitcoin traded sideways above the $16,800 level. It is trading near the two-year low price zone. It is likely to extend losses till the lower mark from where a significant recovery or bounce is possible.

The Nifty Realty index was trading 0.86 per cent down at 444.5.

KST measures price momentum for four different price cycles, combining into a single momentum oscillator. ADX is used to quantify the strength of the trend, and demand index indicator suggests a firm buying interest in the stock.

“People’s return expectations from financials from here on should be moderate and people should stick to the larger banks. It is premature to say this because the balance sheets have been improving constantly in terms of NPAs, GNPAs and net NPAs. But historically, whenever interest rates move up – 2-3% in a short period of time, we see a re-emergence of NPAs again.”

The benchmark Brent crude contract slipped below $90 per barrel on Thursday for the first time in a month. The movement in oil prices has a direct impact on local inflation as India is one of the largest importers of the commodity.