Updated Apr 07, 2021 | 17:20 IST
The casual dining chain listed a marginal discount on the exchanges and after some hesitation investors seemed to have shown some faith in the long-term prospect of the company. Representational Image | Photo Credit: BCCL
Key Highlights
Take-away/Deliveries business contributes around 20% to its revenues.
Stock sprung up a surprise & jumped 20%, after debuting at a discount
Mumbai: The euphoria around new listings seemed to have faded amid a spike in volatility in the secondary market. Looking at the last few listing whether it was Kalyan Jewellers, Anupam Rasayan or Easy Trip Planners disappointed in their debut on the exchanges. The sentiment in the IPO market had turned weak, mainly due to the second wave of coronavirus infections, especially in the key state of Maharashtra.
By Reuters Staff
2 Min Read
BENGALURU, April 7 (Reuters) - Indian shares inched higher on Wednesday, ahead of a central bank decision that could leave interest rates at record lows, as a second surge in domestic coronavirus cases sparked fears about the impact on economic growth.
The Reserve Bank of India (RBI), which has slashed its main repo rate by 115 basis points since March 2020 to cushion the impact of the COVID-19 pandemic, was expected to keep its benchmark lending rate at 4%.
Economists had expected the RBI to start normalising policy or unwind the large scale rupee liquidity in the banking system in the June quarter or latest by September quarter. That is now expected to be delayed, according to analysts.
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BENGALURU Indian shares inched higher on Wednesday, ahead of a central bank decision that could leave interest rates at record lows, as a second surge in domestic coronavirus cases sparked fears about the impact on economic growth.
The Reserve Bank of India (RBI), which has slashed its main repo rate by 115 basis points since March 2020 to cushion the impact of the COVID-19 pandemic, was expected to keep its benchmark lending rate at 4%.
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Sensex, Nifty rise after RBI holds key rates amid rising Covid cases Sensex, Nifty rise after RBI holds key rates amid rising Covid cases
The NSE Nifty 50 index rose 0.8% to 14,809.70 and the S&P BSE Sensex was up 0.7% at 49,559 by 10:19 am.
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UPDATED: April 7, 2021 11:19 IST
Domestic benchmark indices rose after RBI decided to hold key interest rates in the wake of rising Covid-19 cases. (Photo: Reuters)
Indian shares and bond yields rose on Wednesday after the country s central bank kept key interest rates unchanged to support the economy against the backdrop of a second surge in domestic coronavirus cases.
The Reserve Bank of India (RBI) kept interest rates steady at record lows on Wednesday, as widely expected, amid concerns rising Covid-19 infections could derail the country s nascent economic recovery.
By Reuters Staff
2 Min Read
BENGALURU, April 7 (Reuters) - Indian shares and bond yields rose on Wednesday after the country’s central bank kept key interest rates unchanged to support the economy against the backdrop of a second surge in domestic coronavirus cases.
The Reserve Bank of India (RBI) kept interest rates steady at record lows on Wednesday, as widely expected, amid concerns rising COVID-19 infections could derail the country’s nascent economic recovery.
India’s central bank has slashed the repo rate by a total of 115 basis points (bps) since March 2020 to soften the blow from the pandemic. This follows 135 bps worth of rate cuts since the beginning of 2019.