The PE of aerospace and defence player Zen Technologies, which makes military training live-range equipment and anti-drone systems, has fallen from an average of 225 to 76.6. HDFC Securities said that given a large order inflow and revenue visibility for the next few years, some more rerating is possible in the stock.
The Securities and Exchange Board of India (SEBI) has found PTC India Financial Services top officials, Rajib Mishra and Pawan Singh, responsible for corporate governance lapses in its investigation. The company s directors had resigned previously citing serious governance lapses and accusing the chairman and CEO of running the company affairs single-handedly.
On Thursday, the indices opened gap and ended with gain. On the National Stock Exchange (NSE), 1,366 stocks advanced, 706 declined, and 55 remained unchanged with advance decline ratio of 1.93.
Shares of PTC India Financial Services Ltd fell nearly 19% in morning trade on Thursday following the resignation of three independent directors (IDs) over severe governance lapses and compliance in the state-run company, especially by its managing director (MD) and chief executive officer (CEO) Pawan Singh.