Ambuja Cements Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 60850.10 Crore) operating in Cement sector.

The stock quoted a 52-week high of Rs 354.55 and a 52-week low of Rs 223.0.

“HDFC and HDFC Bank regulations are different, the SLR issues, the CRR issues will need to be dealt with. Obviously they would have discussed this with the RBI. I do not think any special dispensation will be given and so it is the right step near term. What it does for shareholders is tough to say. I do not know but this was the logical step.”

Following the upgrade, shares of PB Fintech zoomed more than 9 per cent to Rs 795.60, before trading at Rs 772.10 at 10.40 am. The scrip had settled at Rs 727.95 on Friday. The stock is, however, still trading 20 per cent below its issue price of Rs 980 and 45 per cent below its all-time peak of Rs 1,470 hit on November 17 2021, just two days after its listing.

Promoters held 48.05 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 28.12 per cent and 11.33 per cent, respectively.

HDFC Bank has been beset by the woes of its digital initiatives and many parts of its retail banking are under pressure from fintech companies.

As part of the merger between the HDFC twins, 42 shares of HDFC Bank would be given for every 25 shares of HDFC.

“Our guess is possibly 7.20-7.25% (yield on the 10-year bond) should be the peak that we would see possibly in the first six months of the next financial year and post that with decent tax revenues with disinvestment proceeds and with talks of overseas listing possibly we might see that it remains in a zone in a 7% to 7.25% zone the 10-year for the next year.”

As of 31-Dec-2021, promoters held 45.0 per cent stake in the company, while FIIs held 20.23 per cent and domestic institutional investors had 9.07 per cent.

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