Bank Stocks On Bull Momentum As Finance Ministry Announces INR 2.11 Trillion Bank Recapitalization Plan For Public Sector Banks

Today’s market has seen a huge boost in bullish momentum on bank stocks since market opened for the day and this bull run is visible especially in Public Sector Bank stocks. This bull momentum in bank stocks occurred on announcement from Indian Finance Ministry regarding INR 2.11 trillion bank recapitalization plan for public sector banks who are weighed down by bad loans to stimulate the flow of credit in said banks.

This move is expected to see huge increase in their market capitalization for many public sector banks. The funds for recapitalization move is expected to be made from two major moves, INR 1.35 Trillion is expected to be arranged through sales of recapitalization bond by Government details of which has not been announced yet and remaining INR 76,000 crore is expected to be made through government’s budgetary allocation. Since trading session opened for the day stock value of Punjab National Bank, Bank of Baroda, Canara Bank and State bank of India have sky rocketed.

This is clearly visible in gains made so far by the stocks in BSE and NSE. The stocks are currently at Punjab National Bank with 30.82% in NSE and 31.86% in BSE, Bank of Baroda with 22.60% in NSE and 22.60% in BSE, Canara Bank with 19.80% in NSE and 19.58% in BSE and State Bank of India with 17.96% in NSE and 17.94% in BSE. Nifty Bank index and S&P BSE Bankex index are currently trading with 1.88% & 3.32% increase in value respectively.

Details on change in value for NIFTY PSU BANK index since trading session opened for the day in NSE in provided in image below :

Source : – NSE data 11:16 AM

Details on change in value for stocks under Nifty bank benchmark index is provided in image below :

Source : – NSE data 11:19 AM

Details on change in value for stocks under S&P BSE Bankex benchmark index is provided in image below :

Source : – BSE data 11:19 AM

Details on change in value for all PSU bank stocks in NSE is provided in image below :


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Bank Nifty Technical Analysis: 25th September

The Bank Nifty gapped higher by almost 700 points at the start of today’s session reaching 24980 level. The bullish sentiment in the market is due to the government’s announcement of Rs 2.11 Lakh Crore recapitalisation programme for PSU Banks over the 2 years period.

Since the bullish start, the index is consolidating in a downward direction. Technical analysis of the chart reveals the support at the 24500 level, but the gap it has made underneath will attract the index to fall lower in next couple of session. On 5 min chart, the index will be getting support from the 30 Day Exponential Moving Average. The RSI and Stochastic are near the overbought territory and MACD is below the signal line. For the day ahead, Bank Nifty is likely to maintain the current level of 24600 with support at 24500 level. At 10:45 AM, the Bank Nifty is trading 1.89 percent higher at 24680 level and CNX PSU Bank Index is 20 percent higher.

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Gains In Infrastructure and Bank Stocks Help Nifty and Sensex Reach All Time High

Today’s market saw huge bull run during early hour of trading session as gains from Infrastructure stocks and Bank stocks helped Nifty and Sensex reach new record of all time high’s. While Nifty pre-open reached about 10440.40 , official all time high during market hours is 10340.55. Similarly Sensex rose over 500 points during first hour of trading session reaching new all time high at 33117.33. This bull run can be attributed to gains from major stocks in Infrastructure sector and Bank sector.

Some of stocks with huge gains include : NCC limited with 6.35% in NSE and 6.36% in BSE, IRB Infrastructure Developers Limited with 5.90% in NSE and 5.67% in BSE, Larsen & Toubro Ltd with 4.27% in NSE and 4.50% in BSE, GMR Infrastructure Limited with 5.46% in NSE and 5.75% in BSE, Punjab National Bank with 30.82% in NSE and 31.86% in BSE, Bank of Baroda with 22.60% in NSE and 22.60% in BSE, Canara Bank with 19.80% in NSE and 19.58% in BSE and State Bank of India with 17.96% in NSE and 17.94% in BSE.

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DOW 30 Hits New All Time High With Gains From Finance & Basic Materials Stock

Global Market yesterday took bull momentum on major market across globe with major market indices closing uptrend for the day. Gains from Basic Materials, Finance and S&P industrial sector index hitting record high helped DOW 30 reach new all time high and bullish reading in services PMI and Manufacturing PMI for month of October 2017 helped US market move uptrend for the day. NASDAQ, S&P 500 and DOW 30 closed for the day with 0.18%, 0.16% & 0.72% increase in value.

Similarly major UK index FTSE 100 closed uptrend for the day with 0.03% increase in value. French and German Manufacturing PMI’s and French Business Survey Data for month of October 2017 came out with bullish reading which helped EURO Manufacturing PMI for October 2017 reading turn out bullish and resulted in major European markets trade bullish for the day and major index EUROSTOXX 50 close with 0.13% increase in value.

With US market reaching new all time high across month of October 2017 and financial quarterly updates providing bullish market sentiment in US economy , Asian markets see positive influence on market scenario. This has helped major Asian indices on their bull run across the month of October 2017. Indices like NIKKEI 225, FTSE STI and HANG SENG are trading for the day with 0.17%, 0.05% and 0.63% increase in value.

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Nifty Reaches All Time High At Pre-Open , Index Value Crossed 10400 point mark

Indian Market has been moving uptrend since market opened for the week. With Quarterly update season making the market, stocks from various sectors have so far come up with better financial results compared to previous quarter.  Some of major examples include stocks from IT sector such as Infosys and HCL Tech. With earnings from various stocks pushing Nifty index on bull run and nifty closing above 10200’s yesterday at E.O.D after positive results from PSU bank and Asian paint Nifty future has been trading uptrend in international market.

Nifty future has been trading above 10350 in Singapore exchange today morning and Nifty pre-open which started above 10400 point mark is currently at 10321.15 with 1.11% increase in value which adds further support to possibility of market opening for the day above 10300 point mark. Expected support and resistance for Nifty for the day is at 10210 and 10380 respectively.

Source : Nifty Pre-Open NSE Data

Source :

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Pre-Open Market Moves: 25th October

The Nifty is most likely to open above the 10300 level in today’s session. The Nifty Futures in Singapore Stock Exchange which gives the initial direction to the domestic market is trading 1.22 percent or 126 points higher at 10350 level. The strength in today’s session will be largely due to domestic factors including the Cabinets key decision on recapitalisation of Public Sector Banks. Asian Markets are also trading in the green zone with Nikkei 225 is up by 0.12 percent and Hang Seng is up by 0.6 percent.

Nifty’s major support level will be at 10200 level and resistance will be at 10250-10300 level. And, Bank Nifty will find support near the 24200 level and resistance at 24500-24600 level.

Stocks which will be in focus in today’s session are all PSU Banks stock, Inf0sys, HCL Tech and Road Infrastructure company stocks.

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Market Tuns Range Bound Near E.O.D

Today’s market took stable uptrend movement across the trading hours. However both nifty and sensex closed well below the opening value for the day in index chart as traders took to profit booking during last hour of today’s trading sessions. Nifty and Sensex closed for the day at 10207.70 & 32607.34 with 0.22% & 0.31% decrease in value. Today’s uptrend movement was strongly supported by gains from Media, MNC & Realty sector stocks.

Top gainers and losers in nifty are ZEEL, ASIAN PAINTS & SBIN with 6.65%, 4.67% & 3.64% increase in value and HCLTECH , YESBANK with 2.60% & 2.11% decrease in value respectively.

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Asian Paints Posts Strong Earnings, Stock Surges over 5 percent

Asian Paints reported an 8 percent jump in Net Profit at Rs 508.42 crore on a YoY basis. Consolidated revenue for the company grew by 13.7 percent at Rs 4,274.18 crore compared to Rs 3,757.66 crore in corresponding quarter of last year. The company has also announced an interim dividend of Rs 2.65.

Post the announcement of quarterly result the stock has surged over 5 percent and is currently (3:16 PM) is trading at Rs 1222 level with gains of 4.12 percent.

Charts: 5 minutes Chart
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PSU Bank Index Soars High, Inches Higher on Recapitalisation Plan

The shares of all PSU Bank are trading higher on hopes of early recapitalisation plan. Finance Minister Arun Jaitley is expected to come up with the issue, later on, today including the issue of recapitalisation bonds. The CNX PSU Bank Index in which all PSU Bank stocks are listed is trading 4.2 percent higher. All PSU Banks are participating in the rally with Small PSU Bank stocks are leading the index.

PNB is trading higher by 7.33%, Syndicate Bank is trading higher by 7.28%, Andhra Bank is up by 6.86%, Oriental Bank is up by 5.45%, Union Bank is up by 5.21%, Bank of India is up by 5.30%, Bank Of Baroda is up by 4.86%, SBI is up by 3.60%, IDBI Bank is up by 4.34%, Allahabad Bank is up by 4.41%.

The surge in the Bank Nifty is supported by the rally in PSU Banks stocks. Bank Nifty is currently trading 160 points higher at 24250 levels.

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ONGC, ZEEL & VEDL are top Nifty intra-day gainers

Today’s market took to fast uptrend movement during early hours of morning trading session as gains from metals. realty and various commodity sector stocks pulled market up by nearly 40%. However this movement has slowed down as trading session has progressed further into the day, Nifty & Sensex are currently trading at 10249.85 & 32616.21 with 0.34% & 0.33% increase in value respectively. Sensex has attained stability for the day with gain above 90 points and Nifty has reached the days’s support at 10200’s point value which is expected to continue across E.O.D unless there is a huge impact news that could shake market or traders take to profit booking.

Top gainers and losers in nifty 50 for morning session are ZEEL, ONGC &  VEDL with 4.22%, 2.68% & 2.54% increase in value and BOSCH LTD. Tata motors & Indus Ind Bank with 1.56% , 1.40% & 1.37% decrease in value respectively.

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Bulls To Look Out For The Day : Zuari Global, Zuari Agro Chemicals, Indstrial Investment Trust, Ramco Systems and Sanco Industries

Today’s market has taken a stable uptrend movement with Nifty and Sensex futures seeing a bullish sentiment across trading session since market opened for the day. Nifty and sensex have both seen an increase on value over nearly 0.35% to 0.40% during early hours of morning session with gains from Realty , MNC & Metals sector stocks giving market an uptrend boost. ONGC, & VEDL are top gainers so far in NSE.

Aside from top nifty gainers in NSE, these stocks are to be watched out for bull run across the day in today’s trading hours. The stocks and their change in value so far are :

  1. Zuari Global Ltd – 15.07%
  2. Zuari Agro Chemicals Ltd – 13.89%
  3. Industrial Investment Trust Ltd – 16.74%
  4. Ramco Systems Ltd -9.92%
  5. Sanco Industries Ltd – 9.98%

The above mentioned details are as per stock movement in NSE data.

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NSE Market Analysis For Today’s Morning Market Session : 24.10.2017

Indian Market has taken a stable uptrend movement since market opened for the week. Indian Market has maintained a stable uptrend movement in NSE for the last 8 business days. Nifty 50 has remained above 10120 in index chart since October 13, 2017 indicating a bullish market sentiment. With Second Quarterly Statement Report Announcement scheduled across the month for major company stocks Indian market is expected to be on bull momentum with possibility to reach new all time high’s and index chart movement backed by fundamental and technical data as opposed to news driven market during last month.

Nifty is currently trading at 10226.85 with 0.41% increase in value , this bull momentum has been strongly backed by bullish performance from Realty, Metals, MNC & IT Sector stocks, Since trading session began for the day market in NSE and BSE has seen stable uptrend movement Nifty crossing above 10200’s and Sensex seeing a 100 point increase in value. Top gainers in NSE so far are ONGC, VEDL & NTPC with 2.82%, 2.45% & 2.43% increase in value and top losers in NSE so far are Tata motors, Indus Ind Bank & HCL Tech with 1.45% , 1.27% & 1.13% decrease in value respectively.

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Bulls Takes Grip of the Market, Metal and Oil & Gas Stocks Shine

The broader market in today’s session looks bullish with both Nifty and Sensex are trading higher by about 0.40 percent. Nifty has successfully gone above the 10220 level in the first hour of trade. The positive push in the market is due to the strength in Metals, Banks and Oil & Gas stocks. The BSE Metal Index and Oil & Gas index has surged up by almost 1.3 percent and 0.8 percent respectively. The Bank Nifty is trading higher by 130 points above 24200 level.

Nifty’s top gainers are ONGC, Vedanta, NTPC, Yes Bank, Indian Oil whereas Tata Motors, IndusInd Bank, Sun Pharma, Tech Mahindra are in the negative zone of the territory in Nifty.

If Nifty closes above the 10250 level in today’s session, then the market will continue to be bullish. The Advance Decline Ratio in NSE is 1080 advances against 516 declines and 375 unchanged. India VIX is down by almost 4 percent indicating the strength to continue in the market.

At 10:55 AM, Nifty is up by 38 points at 10222 level and Sensex is up by 115 points at 32620 level.

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Pre-Open Market Moves: 24th October

The Nifty is more likely to open in the red zone with around 20 points of weakness. The Nifty has a strong support at 10150-10140 level which is likely to hold off and resistance is at 10200-10220 levels. Mixed global cues will also affect the market at the open. The SGX Nifty which gives the initial thrust to the market is trading lower by 13 points at 10187 level. Asian Indices such as Nikkei 225 is trading marginally higher with 0.17 percent of gains, Hang Seng is also trading higher by 0.14 percent, Taiwan’s TSEC 50 index and Singapore’s STI index are trading marginally lower.

The day ahead is expected to be volatile as we are witnessing a lot of actions in the Nifty F&O segment ahead of October expiry. In option chain, the highest shedding of OI can be seen in 10200 call and put strike with the unwinding of short positions by shedding OI to the tune of 2 lakh and 5 lakh shares.

Stocks which will be in focus are Infosys, RCOM, HDFC Bank, Hindalco, RBL Bank, Cochin Shipyard and all the road infrastructure stocks.

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EOD Market Review: 23rd October

The broader market closed on a positive note with Nifty and Sensex closed 0.38 % and 0.36% higher respectively. The strength in the market was derived from Telecom, Oil&Gas, Metals, Realty and IT stocks which helped the Nifty to zoom past the 10150 level and close at 10184 level. Overall, the market was in a back and forth movement due to the absence of any particular trend in the market.

The BSE Telecom index closed 2.82 percent higher, Oil & Gas index was 0.8 percent higher, Metal index was 0.47 percent higher and BSE IT Index was 0.90 percent higher. Out of 1,526 stocks traded on the NSE, 697 advanced, 783 declined, and 46 remained unchanged today. India VIX is at 12.32 level, has eased by 0.52 percent.

Stocks such as Reliance Industries (+3.32%) touched the 52 weeks high level of Rs 944 and Bharti Airtel (+4.92%) continued its bullish trend going above the Rs 500 level for the first time in 9 years.

Tomorrow, the Bank Nifty will take cues from the earning results of HDFC Bank which will also give further direction to the domestic market. Nifty’s close above 10180 level is very positive for the market and will try to move above the 10200 levels in the next session.


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South India Bank Technical Analysis: 23rd October

The stock has been consolidating with a downward proclivity in the last couple of session and is trading near its 52 weeks high level of Rs 32.95. The stock has started to show some amount of weakness in the counter with all major technical indicator including RSI, Stochastic and MACD are indicating an overbought condition. On the daily candlestick chart pattern, the stock has formed an Evening Shooting star candle pattern which indicates a trend reversal.

The Support for the stock stands at Rs 30.81 and extends up to Rs 27.86 which is also a 23.6 and 38.2 level in Fibonacci Retracement.

In today’s session, the stock has closed 0.60 percent lower at Rs 31.90.


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Exide Tecnical Analysis: 23rd October

The stock has been on a consolidation phase around the Rs 205 levels in the last few couple of session and has corrected almost 12 percent in the recent correction in the market. The stock has been hitting the 61.8% in Fibonacci Retracement scale. In MACD technical indicator the stock has given an upward crossover, signalling a reversal of trend and the stock is also receiving volume based buying activities. The support for the stock is at 193 levels with resistance at Rs 208 and then at Rs 228. If the stock clears this level then it will rally further towards Rs 250 level.

At 3:01 PM, the stock is trading 0.70 percent lower at Rs 205.80.

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Market Turns Weak, Telecom and Oil&Gas Gains

Erasing the early morning gains, Nifty and Sensex have slipped into the negative territory. The major drag in today’s session has been created by the Auto and FMCG stocks each trading lower by 0.53 percent and 0.8 percent respectively. The BSE Midcap index is trading marginally higher by 0.23 percent. The star performance in today’s session is Telecom sector with BSE Telecom index is trading higher by 2.5 percent.

Bharti Airtel (+5.22%) has been the top gainer in today’s session with stock touching the Rs 500 level for the first time in 9 years. All Bluechip companies are leading the gains in Nifty with Ultratech Cement (+3.18%), Reliance Industries (+2.01%), Hero Moto (+1.47%) and ICICI Bank (+2.21%). The Advance Decline ratio in NSE is 726 advances against 937 declines. All telecom stocks are trading with an upside proclivity with Idea gaining 8 percent during the day, RCOM trading 7.32 percent higher.

The market is likely to trade on the weaker side of the territory as it was bit overstretched. The 10000 level will be the important psychological level for the market. India VIX has spiked higher by 1.51 percent. At 1:30 PM, the Nifty and Sensex are trading at 10151 and 32400 level with marginal gains.

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Bank Nifty Technical Analysis: 23rd October

Bank Nifty over the last 4 trading session including the Muhrat Session has corrected over 3 percent. It is now in the downtrend channel and is likely to continue the same way for next few trading sessions. Factors lead such fall in the index are the bad set of performance from Axis Bank and RBI minutes which published last week indicating of fewer chances of lowering interest rate in December Policy meeting.

The Bank Nifty is currently hovering around the key support level of 24000 level and if it gives a close below this level, then we can see further correction till the range of 23500 level and 23000 level eventually. The RSI, MACD and Stochastic are giving a mixed signal on the trend. The trades in the market now will be strictly governed by the Support and Resistance to minimize the risk of loss. Further clarity on the direction in the Bank Nifty will come after the second quarter earnings results of HDFC Bank and Kotak Bank which is scheduled this week.

At 10:54 AM, Bank Nifty is trading at 60 points higher at 24070 level and CNX PSU Bank is trading 0.70 percent higher.

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Pre-Open Market Moves: 23rd October

The market is likely to open higher above the 10150 level with positive cues from the global market. The Nifty50 futures on Singapore stock exchange is trading 18 points higher at 10186 level. The Asian markets are trading on a mixed note with Japan’s Nikkei 225 index is trading 1 percent higher, Hang Seng is trading lower by 0.52 percent, Taiwan’s and Singapore’s indices are also trading on positive notes.

The market will today resume trading after the long Diwali break and is expected to remain volatile. Expiry of October F&O series and Quarterly earnings results from industry heavyweights like Maruti, HDFC Bank, Infosys, Hindustan Unilever and Kotak Mahindra Bank will give further direction to the market.

The Muhrat trading on the occasion of Diwali saw markets breaking down lower on weak global sentiments. Bank Nifty dragged almost 300 points lower and closed at24000 level. Weakness in Bank Nifty was majorly due to the increased stress level in the Banking sector and weak set of results produced by Axis Bank. If Nifty resumes trading above the 10200 level, we can expect the market to go higher towards the 10300 level.

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Samvat 2073 Ends on a High Note

Samvat 2073 will be known in the market for the blockbuster returns in the index, stocks despite hiccups in the domestic economy. Sensex and Nifty closed this Samvat 2073 near its lifetime high levels of 32650 and 10250 level delivering returns of almost 16% and 27% respectively during the period. Structural changes and optimism in the economy helped the market to rally post the lows during the period of demonetisation.

Large-cap and Mid-cap stocks were the flavour of the market during the period with 24 stocks among BSE 500 jumped over 100% during the period. Samvat 2073 has been a very strong year for the Oil & Gas, Metals, Auto and consumer durables stocks. BSE Mid-Cap index also registered a growth of around 20 percent during the period. It was actually the value discovery for the market with stocks with good management and performance has been rewarded.

Indiabulls Ventures was the best performer in the market with close to 1040 percent of gains during the period. Adani Transmission Ltd. (+ 380%), Avanti Feeds Ltd (+ 370%), Rain Industries Ltd (+ 307%), Bombay Dyeing ( + 244 %), Dilip Buildcon Ltd (+ 219 %), Future Retail Ltd (+ 209 %), Future Consumer Ltd (+ 175 %), Bombay Burmah Trading Co. (+ 156 %) and Sterlite Technologies Ltd (+ 149 %) are the top ten  gainers among BSE 500 firms in Samvat 2073.

During the period, many sectors witnessed consolidation and slow growth. One of the sectors was Telecom space, which entered the hyper-competition phase after the launch of services by Jio. Many players closed their operations or opted for merger with bigger players to stay in the market. Also, there were sectors which lost some of the value was Healthcare which declined 13 percent during the year. Some top losers in the BSE 500 index are Videocon (-84.40%), Religare Enterprises Ltd (- 81.27%), Reliance Communications Ltd (- 63.49%) and Inox Wind Ltd (-46%).

Tomorrow we start the  Samvat 2074 with the Muhrat Trading scheduled from 6:15 PM to 7:30 PM. And, the year ahead is also expected to be great with market touching new highs. Stocks with strong fundamentals and great management will continue to outperform the market and also in creating wealth.


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Market Review: Afternoon Session

Nifty and Sensex has come out of day’s low and has gained some strength to narrow the loss in today’s session. At 2:10 PM, Nifty is trading flat with 3 points of loss at 10231 level and Sensex is trading 43 points higher at 32650 level. The strength in today’s session has come in from the Oil&Gas and Midcap stocks with 1.1 % and 0.23% gains respectively.

Today’s star performance in the index are Reliance (+4.59%), Power Grid (3.78%), Indiabulls Housing Finance (+2.38%), ONGC (+1.64%) and Wipro (+1.47%). Advance Decline Ratio of NSE is almost flat with 822 stocks in advances against 805 stocks in decline. India VIX has lost 1 percent indicating of possible upside momentum.

Drag in the market is created by Bank Nifty (-1.14%), Auto (-0.30%) and Telecom index (-2%). All telecom stocks are witnessing profit booking after three consecutive days of gains. The top loser in Nifty is Axis Bank which is down by almost 9 percent.


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Bank Nifty Technical Analysis: 18th October

Bank Nifty slumped at the open of today’s session breaking below the important support level of 24500. The index gapped lower and opened at 24350 level almost 250 points lower. The fall in the banking index is mainly due to the worst set of second-quarter earnings from Axis Bank. This is pulling down the whole banking sector including the PSU Banks.

On the hourly chart, the Bank Nifty has a strong support at 24000 levels and is it breaks below from here, then 23500 will be the next target. If the index breaks above the 30 day SMA level, then we can see bullish sentiment in the market and the index will try to fill the gap above. With earning seasons kicked in, we can expect a lot of volatility in the index and the main concern for the investors is the deteriorating asset quality.

At 11:12 AM, the Bank Nifty is trading at 1.4 percent lower at 24306 level and CNX PSU Bank is 1.72 percent lower. Axis Bank is trading 7.87 % lower at Rs 472.75.

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Global Market On Mixed Momentum as Traders, Investors & Analysts Ponder Possibile Fed Leadership

Global Market on Tuesday took mixed momentum among major indices across time zone.  US market was driven on bull momentum with gains from Healthcare, Utilities and Telecoms sectors shares, however losses in financial , consumer goods and basic material stocks capped the market growth. Major indices such as NASDAQ, S&P 500 & DOW 30 closed for the day with -0.01%, 0.07% & 0.18% change in value respectively.

Bearish Core PPI YoY & MoM Output , Core RPI YoY & House price index reading pushed UK market on bearish trend with FTSE 100 seeing a -0.14% decrease in value. Despite dovish economic readings EUROSTOXX 50 closed bullish for the day with 0.21% increase in value. Asian market is also on bullish track since market opened for the day. Major indices such as NIKKEI225, HANG SENG & DOW 30 are currently trading with 0.28%, -0.08% & 0.18% change in value respectively.


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MAS Financials Makes Stellar Debut in Street, Lists At a Premium of 44%

Gujarat based NBFC, MAS Financial Services  Limited had made a stellar debut at today’s session with listing gains of 44 percent to the issue price. The stock got listed at Rs 660 crore on BSE.

The Rs 460 crore IPO was open for subscription from October 8 and October 10 and at Rs 456 – Rs 459 Per Equity Share. The issue was fully subscribed on Day 1 and at the close of the issue, it was oversubscribed by 128 times.

At 10:20 AM, the stock is trading at Rs 650 with around 40 percent gains.

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