BSE shares extend their losses for seven sessions in a row
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Mumbai: Shares of BSE Ltd, Asia’s oldest stock exchange, on Friday extended its losses for the seventh consecutive session. The stock corrected nearly 17% from its listing day.
In intraday, the stock touched a low of Rs 888.10 a share and fell as much as 3.2% on the NSE.
On 3 February, the scrip got listed on rival NSE with 33% gains on the opening day. Since then, the stock rose only for five sessions.
On 14 February, the exchange reported its earnings for the first time since listing. The company posted a net profit of Rs 63.73 crore in December quarter—down 16.8% from Rs 76 crore a year ago.
Total income rose 8.82% to Rs 174.72 crore from Rs 160.56 crore.
In the initial public offering (IPO), the draft prospectus had listed 302 shareholders that were selling their shares. Singapore Exchange Ltd (SGX) sold 5.09 million shares, or a 4.7% stake, to make an exit from the bourse.
Edelweiss Financial Services Ltd, Axis Capital Ltd, Jefferies India Pvt. Ltd, Nomura Financial Advisory and Securities (India) Pvt. Ltd and SBI Capital Markets Ltd, were among the bankers that managed the issue.
Individual shareholders, mainly brokers and trading members, held 56.83% in BSE, before the IPO.
The rest was held by institutional holders such as the Life Insurance Corporation of India, State Bank of India and Bajaj Holdings, besides the foreign bourses.
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