RBL, Bandhan Bank fall below IPO price; stocks hit new lows

Shares of RBL and Bandhan Bank hit new all-time lows, falling below their respective initial public offer (IPO) prices, on the BSE on Monday after a sharp sell-off in the equity markets.

Individually, RBL Bank slipped 18 per cent to Rs 212 in the intra-day trade, to hit its lowest level since its listing on August 31, 2016. The stock of the private sector lender fell below its issue price of Rs 225 per share.

Analyst at JP Morgan, rate RBL Bank ’underweight’ as the brokerage firm believes that the bank’s valuations would stay

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China Purchasing Indexes Drop to Record Lows as Epidemic Stalls Output

BEIJING—Official gauges of China’s factory and nonfactory activity plunged to history lows in February as the nation’s economic system struggled to resume standard output as it confronted the coronavirus epidemic.

The official production acquiring professionals index tumbled to 35.7 in February from 50 in January, indicating a deep contraction. February’s reading through from the Nationwide Bureau of Stats on Saturday was the initial official facts for a entire thirty day period of economic activity in China considering that the coronavirus commenced impacting the economic system…

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MARKET LIVE: Sensex off lows, down 200 pts; broader indices underperform

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Picture: iSTOCK

Benchmark indices have been buying and selling lower for the fifth straight session on Thursday amid expanding problems about the unfold of novel coronavirus outside the house China and ahead of the expiry of the February collection by-product contracts now.

The S&P BSE Sensex was down a hundred and seventy details, or .41 for each cent, at 39,723.forty nine levels. HCL Tech, TCS, Mahindra & Mahindra, and HDFC Lender (all down 1%) have been the leading laggards in the Sensex pack.

The broader Nifty50 index hovered around the eleven,600 level, down 62 details, or .53 for each cent.

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