ETMarkets.comThe stock would be excluded for failing to meet the minimum criteria (average median quarter sigma, MWPL value and average daily deliverable value) for three consecutive months.
According to Nuvama Institutional Equities, the stock might fail to meet the minimum delivery criteria for the third consecutive month.
The exclusion is driven by a quantitative approach and its purely methodology driven, unlike the inclusions where the final call is taken by SEBI.
The current open interest in the stock is Rs 255 crore/$30 million.
The price performance of excluded stocks just before the announcement is mostly poor. For the recently excluded stocks, in the recent 8 out of 10 instances, a stock has corrected one week prior to the announcement with an average decline of 1.9%. Meanwhile, 7 out of 10 times, a stock has corrected two weeks prior to the announcement with an average decline of 2.5%.
In the post announcement of exclusion, there is no clear price performance trend.
Intellect Design Arena Ltd is a financial technology firm. The company caters to banks, insurance companies and other financial services firms. It is smallcap company with a market capitalisation of about Rs 7,394 crore.
The company's shares have risen 21.73% on a year-to-date basis. However, in the last one-year period, the stock is down 13%.
According to Trendlyne data, Intellect Design Arena has an average target of Rs 731. The consensus estimate represents an upside of 34% from the current levels.
For the quarter ended March, the company has reported a consolidated total income of Rs 627 crore, up 10% from last quarter. It has reported net profit after tax of Rs 82 crore in said quarter.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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