ITC Hotels Removed from Sensex: Impact on Stock Market and Investors
ITC Hotels, Sensex, BSE indices, stock market, luxury hotel operator, index exclusion
On Tuesday, ITC Hotels was removed from the benchmark Sensex and several other BSE indices. The company, which was spun off from ITC and began trading separately on January 29, was initially included in the Sensex and other indices to help passive funds rebalance their portfolios.
BSE issued a notice confirming that ITC Hotels would be excluded from the indices, effective before the open of trading on Wednesday. This decision was based on the fact that the stock did not hit the lower circuit limit by the cut-off time.
The last trade of ITC Hotels saw its shares close at Rs 165, marking a decline of 4.2%. In total, over Rs 700 crore worth of shares exchanged hands. Index trackers were forced to sell shares worth over Rs 400 crore due to the stock’s Sensex exclusion, with an additional Rs 700 crore worth of shares anticipated to be sold when the stock is removed from NSE Nifty.
Dr Agarwal’s Eye Care Firm Has a Lackluster Stock Market Debut
Dr Agarwal’s Healthcare, IPO debut, stock market debut, Dr Agarwal’s eye care, IPO subscription
Dr Agarwal’s Health Care, a leading eye-care firm, had a somewhat disappointing debut on the stock market. The company’s shares closed marginally below its initial public offering (IPO) price of Rs 402. After reaching a high of Rs 413 and a low of Rs 370, the stock ended at Rs 401.6.
Dr Agarwal’s Rs 3,027-crore IPO was primarily backed by institutional investors. However, the High-net-worth individual (HNI) and retail quotas of the IPO remained 40% unsubscribed. The IPO consisted of Rs 300-crore fresh funds and was valued at Rs 12,684 crore at the last close. Despite the mixed debut, the company’s market valuation remains solid.
NSE’s Q3 Financial Results: Revenue Dip and Exceptional Profit Surge
NSE Q3 results, National Stock Exchange, revenue dip, exceptional gain, Protean e-Gov Technologies
The National Stock Exchange (NSE) reported a 3.5% sequential decline in consolidated revenues, totaling Rs 4,349 crore for the quarter ended December 2024. The dip in revenue was attributed to new restrictions on index derivatives, which negatively impacted trading volumes. Consequently, transaction charges also dropped by 4% sequentially.
However, the exchange saw a remarkable 94% year-on-year (YoY) increase in its consolidated net profit, reaching Rs 3,834 crore. This surge was mainly driven by an exceptional gain of Rs 1,155 crore from the sale of its stake in Protean e-Gov Technologies. On a YoY basis, revenues grew by 23%, signaling positive long-term growth despite short-term setbacks.
