Stock splits enhance the liquidity of the company s equity shares and encourage the participation of retail investors by making equity shares of the company more affordable. The valuation of the stock doesnt change and the balance sheet doesn t get affected in this process.
The government proposes to sell an additional 100,450,348 shares, representing 1% of the total paid up capital of the company, in case of an oversubscription. The OFS will open for subscription to institutional investors on Thursday, and for retail investors on Friday.
HDFC Bank reported a 34% year-on-year (YoY) growth in net profit for the December quarter to Rs 16,372.54 crore. The bottomline was higher than an ETNow poll of Rs 15,846 crore.
Angel One Q3 Results: Sequentially, the bottomline declined by 14.5%, due to higher growth in cash segment orders and a rise in operating expenses on the back of higher client acquisition.
Earnings before interest, taxes, depreciation and amortization or EBITDA during the quarter grew by 16% YoY to Rs 1,119.89 crore. However, operating margin dipped marginally to 8.25% from 8.34% a year ago.