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All seven analysts covering the stock have recommended a strong buy on the counter. The company for the September quarter posted a net loss of Rs 29 crore versus profit-after-tax of Rs 83 crore year-on-year (YoY).

“We could see a little bit of a re-rating happening in PSU banks but eventually at some point, in the next one or two quarters, as the valuation gap closes, investors will need to be nimble enough to move back into the private banks which will once again lead the rally. But for now, it makes sense to go down the quality curve a bit.”

Allcargo Logistics said its board has approved plans to acquire a 30 per cent stake in Gati Kintetsu Express Pvt Ltd (GKEPL) from KWE group. In the JV, Allcargo Group firm Gati owns 70 per cent stake while the remaining 30 per cent stake is with the KWE (Kintetsu World Express) group.

Manufacturing and other expenses were 30% of sales at Rs 1,226.8 crore compared to Rs 1,191.6 crore in Q1 FY2023. Investment in R&D for the quarter was Rs 337.6 crore (8.3% of sales), Lupin said in a BSE filing.

Piramal’s retail loan book now accounts for 43% of the overall loan book against 12% before the merger. In the wholesale lending business, Piramal said the asset recognition cycle has mostly been completed and provided for against possible credit risks.

There is definitely a festive boost which cannot be denied and which is reflected in earnings performance, said Vivek Kumar, economist at Mumbai-based QuantEco Research."There was also some comfort on input prices moderating in the quarter, and a boost from pent-up demand. All these factors came together to help.

A retail investor can bid at any price above the floor price. "In case of oversubscription in the retail category, if the aggregate number of offer shares bid for at a particular clearing price/cut-off price, as the case may be, is more than the available number of equity shares at such price, then the allocation for such bids will be done on a proportionate basis," SUUTI said in an exchange filing.

In addition, it recommended steps to enhance accountability and transparency and reviewed the policy on safekeeping and sharing of information held by MIIs, revisited the code of conduct and code of ethics for directors of the governing board and KMPs activities.

The quota for employees was booked at 85%, and retail bidders were subscribed 5%, whereas the allocation for HNI investors fetched only 1% bids. The portion for institutional investors was yet to see any action.

The cement and cement products player reported a 98% year-on-year (YoY) decline in net profit to Rs 11 crore for the quarter that ended September 30, 2022. It reported a bottomline of Rs 515.84 crore in the same period the previous year.