Orissa Bengal Carrier Ltd lost 10.00% to Rs 74.53. The stock was the second biggest loser in 'B' group.On the BSE, 71831 shares were traded on the counter so far as against the average daily volumes of 51154 shares in the past one month. North Eastern Carrying Corporation Ltd tumbled 11.25% to Rs 14.99 at 14:30 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 28759 shares were traded on the counter so far as against the average daily volumes of 20646 shares in the past one month.ĭeep Polymers Ltd crashed 10.28% to Rs 110.52. advises users to check with certified experts before taking any investment decisions.Deep Polymers Ltd, Orissa Bengal Carrier Ltd, ANG Lifesciences India Ltd and Alps Industries Ltd are among the other losers in the BSE's 'B' group today, 14 March 2023. Since valuation is attractive at 1.4x FY24 price-to-book ratio, it has a 'buy' rating on the stock with target price lowered to Rs 1,550 from Rs 1,600.ĭisclaimer: The views and investment tips expressed by investment experts on are their own and not those of the website or its management.
We see this as reasonable time to demonstrate progress as the bank had already made moves on these counts,” it noted in a report. “The lower tenure extension may be a reflection on the need to improve on controls (MFI incidence), liabilities (retail mix), and underwriting (retail and less risky). It has trimmed loan growth estimate by 100 basis points for FY24-25. “We will closely monitor the bank's progress on its strategic initiatives towards delivering over 5 percent pre-provision operating profit and towards delivering over 2 percent RoA and over 17 percent RoE over FY24/25,” it said.Īccording to Jefferies, the lower extension may mean slight pullback on growth and defer re-rating. Morgan Stanley analysts find it tough to ascertain the reason behind the lower tenure extension, as there have been instances of both lower as well as higher extension.Ĭiti, on the other hand, has maintained its 'buy' rating with a target of Rs 1,420 per share. Morgan Stanley, on its part, has given IndusInd Bank an 'overweight' rating and set a target of Rs 1,525 per share. “In the current environment of tightening liquidity, the reappointment for only two years could place the bank at a disadvantage,” the broking firm said.Īt 1 pm, the stock was quoting at Rs 1073 on the NSE, lower by 6.2 percent from the previous close. After six months, the RBI’s nod has come for only two years, contrary to Street expectations.įollow our live blog for all the market actionįollowing this, JPMorgan has downgraded the stock to a 'neutral' rating and cut its target to Rs 1,060 per share. The bank’s board had in September 2022 approved the re-appointment of Kathpalia with effect from Maup to March 23, 2026.
Since his appointment in 2020, Kathpalia has been instrumental in spearheading the bank’s growth with marked improvement in key financial and business performance metrics. Sumant Kathpalia’s reappointment as IndusInd Bank managing director and chief executive officer for two more years, instead of three as was ratified by the bank's board, has left foreign brokerages a bit puzzled.
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