Research

Today’s main event was the planned acquisition of HTLS shares by BMHL with just under 20% being crossed off-the-ain board at the convened priced of Rs30.85 (+2.3%).

 

Excluding those exceptional exchanges, TMT stood at Rs48M driven by usual suspect MCB [44%: NFS: Rs18M] who continued its accelerated gain to 1½ Mth-High Rs274 (+1.3%) albeit registering appreciable foreign outflows. By contrast, counterpart SBM who announced the resignation of its CEO of SBM Bank (Mauritius) Ltd Mr. Raj Dussoyesaw another drop opening at Rs6.52 (-2.7%) but recouping its loss to a flat Rs6.70 (±0%) [88% foreign sales!].  

 

The session was also particularly volatile with sharp moves among illiquids. These include: SCT to nearly 2½Yr-High Rs5.50 (+9.6%) on low-vols, MSIL to almost 2Yr-High Rs31 (+5.1%), BYCH reversing to Rs5 (-9.1%) and MOLI to 11Yr-Low Rs32 (-8.6%).