ITC Hotels removed from Sensex; Dr Agarwal slips on stock market debut

ITC Hotels was removed from the benchmark Sensex and other BSE indices on Tuesday. The company, which was spun off from ITC, was temporarily included in the Sensex and a few other indices to enable passive funds to rebalance their portfolios.

 

ITC Hotels began trading separately on January 29. “As ITC Hotels did not hit the lower circuit till the cut-off time, the company will be dropped from all the BSE indices effective prior to the open of trading on Wednesday,” BSE said in a notice.

 

Shares of the luxury hotel operator last closed at Rs 165, down 4.2 per cent, with over Rs 700 crore worth of shares changing hands. Index trackers had to sell shares worth over Rs 400 crore on account of the stock’s Sensex exclusion. Another Rs 700 crore worth of selling is anticipated when ITC Hotels is removed from NSE Nifty.

 

Dr Agarwal slips on debut

 

Dr Agarwal’s Health Care, an eye-care firm, had a lacklustre stock market debut, with its shares ending marginally below its initial public offering (IPO) price.

 

After hitting a high of Rs 413 and a low of Rs 370, the stock ended at Rs 401.6 compared to its issue price of Rs 402. The company’s Rs 3,027-crore IPO had managed to scrape through on the back of bids from institutional investors.

 

The high-net-worth individual (HNI) and retail quotas of the IPO remained unsubscribed at around 40 per cent each. Dr Agarwal’s Rs 3,027-crore IPO consisted of a Rs 300-crore fresh fundraise. At the last close, the company was valued at Rs 12,684 crore. 

NSE's Q3 topline dips 3.5% sequentially

 

The National Stock Exchange (NSE) on Tuesday reported a 3.5 per cent sequential decline in consolidated revenues to Rs 4,349 crore for the quarter ended December 2024 as new restrictions on index derivatives impacted trading volumes.  Consequently, transaction charges also fell by 4 per cent sequentially. The bourse, however, reported a 94 per cent year-on-year (YoY) increase in consolidated net profit to Rs 3,834 crore.  This significant jump was primarily due to a Rs 1,155-crore exceptional gain from the sale of its stake in Protean e-Gov Technologies. On a year-on-year (YoY) basis revenues were a 23 per cent.