This is due to a relatively poor showing by top banking stocks on the exchanges in recent months. Analysts attribute this to the prospects of their muted earnings growth in the next few quarters
Posts in category Business Standard
BLS E-Services IPO subscribed 16x; Epack shares drop 10% on debut (30-01-2024)
BLS E-Services, an arm of visa application outsourcing firm BLS International, had reported net profit of Rs 15 crore on revenues of Rs 156 crore during the quarter ended September 2023
FPI lobby Asifma flags concerns over Sebi’s proposed T+0 settlement cycle (30-01-2024)
‘Two settlement cycles could lead to liquidity fragmentation, deterioration of market quality’
Bond market expects RBI to infuse liquidity via open market operation (30-01-2024)
Market participants said that if the government refrains from spending, the central bank might resort to other measures to infuse liquidity apart from variable rate repo auctions
Profit booking in RIL pulls down indices; Sensex ends 802 points lower (30-01-2024)
Shares of RIL, the country’s most valuable firm, fell 2.8 per cent and made a 246-point contribution to the Sensex decline
Crude oil up on tensions in West Asia, China economy worries limit gains (30-01-2024)
March Brent crude futures, which are due to expire on Wednesday, rose 8 cents, or 0.1%, to $82.48 a barrel by 1059 GMT
Profit booking in Reliance, drop in financials weigh on Indian shares (30-01-2024)
The blue-chip NSE Nifty 50 index declined 0.99% to 21,522.10 points and the S&P BSE Sensex fell 1.11% to 71,139.90
LIC’s $30 billion market rally gives IPO investors chance at redemption (30-01-2024)
The state-owned life insurer’s stock climbed 1.9% Tuesday, to close at its highest level since its IPO in May 2022
Maruti Suzuki Q3: Analysts expect profitability to weaken QoQ; here’s why (30-01-2024)
Maruti Suzuki news: Analysts expect Q3 earnings to take a hit on a sequential basis on the back of adverse product mix and higher discounts offered during the December quarter.
BLS E-Services IPO fully subscribed within minutes of subscription opening (30-01-2024)
The Initial Public Offering (IPO) of BLS E-Services Ltd was fully subscribed within minutes of opening for subscription on Tuesday.
The Rs 311-crore IPO received bids for 5,83,39,440 shares against 1,37,02,904 shares on offer, translating into 4.26 times subscription, as per NSE data till 11:57 hours.
The quota for Retail Individual Investors (RIIs) fetched 14.21 times subscription, while the category for non-institutional investors got subscribed 4.71 times. The portion for Qualified Institutional Buyers (QIBs) received 2.04 times subscription.
The initial public offering has a fresh issue of up to 2,30,30,000 equity shares. It has a price range of Rs 129-135 a share.
BLS E-Services Ltd on Monday mobilised Rs 126 crore from anchor investors.
The company proposes to utilise net proceeds from the fresh issue to strengthen its technology infrastructure to develop new capabilities and consolidate its existing platforms, among others.
The money will also be used to fund initiatives f