Amid expiry of the January derivatives series, Nifty rose 1.5% to 8602.75 and Sensex rose 1.2% to 27708.14 on Wednesday to log their biggest one-day gain in nearly a month.
Services, consumption, pharma, alcohol, agri, and infra cos are also expected to come to the primary market. It will not be dominated by a particular sector.
However, on a standalone basis, the company’s net profit fell 67.8% to Rs 25.9 crore and total income fell 55.6% to Rs 37 crore.
In Tata Steel, they have raised their holding by the most among group firms, by 2.5%, to 11.5% at the end of December.
The stock deserves to trade at 1.7 times 12-month price to adjusted book value as against 2.3 times PABV currently, due to profitability pressure, said HSBC.
The issue is entirely an offer for sale of a total of 1.54 cr shares (including anchor portion) by existing investors s including Singapore Exchange, Atticus Mauritius, Acacia Banyan Partners and Caldwell India Holdings Inc.
Macquarie said that the company's business will be impacted by the Supreme Court order to ban all liquor shops within a 500 meter radius of national and state highways from April.
It is an investment strategy which is used to take advantage of the price differential between two or more markets to earn a profit.
The brokerage said the bank’s initiative to improve the NPL coverage ratio is encouraging and it expects earnings to normalise after declining in FY17.
On Monday, LIC Housing reported a 19% rise in net profit for the December quarter to Rs 499.3 crore.
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