In today’s briefing:
- Bharti Hexacom IPO Trading – Strong Insti and Anchor, Retail Gave It a Miss
- NIFTY Bank Index Rebalance Preview: Canara Bank Still Cheap; Double Deletion for Bandhan?
Bharti Hexacom IPO Trading – Strong Insti and Anchor, Retail Gave It a Miss
- Government of India raised around US$513m via selling some of its stake in Bharti Hexacom’s IPO.
- Bharti Hexacom (BH) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the North East telecommunication circles in India.
- We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.
NIFTY Bank Index Rebalance Preview: Canara Bank Still Cheap; Double Deletion for Bandhan?
- Canara Bank (CBK IN) should replace Bandhan Bank Ltd (BANDHAN IN) in the NSE Nifty Bank Index (NSEBANK INDEX) at the September rebalance.
- Passive trackers will need to buy nearly 2 days of ADV in Canara Bank (CBK IN) while selling over 1 day of ADV in Bandhan Bank Ltd (BANDHAN IN).
- Canara Bank (CBK IN) is one of the best performing banking stocks while Bandhan Bank Ltd (BANDHAN IN) has been the worst performer over the last two years.
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