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According to the data from BSE, investors made bids for 4,36,34,400 equity shares or 2.11 times compared to 2,06,36,790 equity shares offered for the subscription by 11.15 am on Monday, November 07.The quota for retail bidders was subscribed three times, whereas portions for employees were subscribed 2.07 times. HNI allocation fetched 2.28 bids and the portion for institutional investors was subscribed 44%.

Incorporated in 1994, Fusion Micro Finance is engaged in providing financial services to women entrepreneurs belonging to the economically and socially deprived section of society.Last heard, the shares of Fusion Micro Finance were commanding a premium of around Rs 5 in the grey market. The premium in the unofficial market has been hovering around the same levels, signalling a flattish debut for the issue.

“We had guided at the beginning of the year that we would want to increase our margins by 10 basis points during the year. Already we have got that and without any exceptional items contributing to it. These are the two major factors which have been there, primarily the robust growth that we have seen and the fact that margins have improved along with growth.”

Some of these lenders have emerged as outperformers since the announcement of earnings, rising up to 45% within a week. Brokers see more upside is left in these names.

“In Q1 and Q2 we did not see a lot of traction, it was almost at a similar proportion to what it used to be but in quarter three we believe with the November and December month still ahead of us, we can see some positive traction. But on a LFL basis it would be very difficult to say that we should just extrapolate what we have seen in the festive season.”

Mysore-based Kaynes Technology is a leading end-to-end and IoT (Internet of Things) solutions-enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing services.

Health officials in China reiterated their commitment to strict COVID-19 curbs over the weekend, disappointing investors hopeful for a relief. Separately, data showed Chinese exports and imports both contracted in October and missed forecasts.

Jhunjhuwala added stakes in two new counters during the period while she likely exited three companies, suggests latest shareholding pattern. Further, Jhunjhunwala increased her stakes in as many as five existing holdings and cut stakes in three others. She kept her stake unchanged in seven counters.

On November 2, the stock clocked around 20% gains after strong earnings for the quarter ended September. During the quarter, the Mangaluru-headquartered bank posted an all-time high quarterly net profit of Rs 411.5 crore, recording 228% growth compared to the profit during the same period last year.

The Nifty Auto index closed 1.3 per cent up at 13443.9.