IPO News: Studds Accessories Shares Debut At 3% Discount Over IPO Price
Studds Accessories Ltd. listed on the National Stock Exchange on Friday at Rs 565 apiece, a discount of 3.42% over its issue price of Rs 585 apiece.
On the BSE, the stock debuted at Rs 570, a 2.56% discount.
Broader Markets At Open: Nifty Mdicap 150 And Nifty Smallcap 250 Underperform Benchmark Indices
The NSE Nifty Midcap 150 and the NSE Smallcap 250 underperformed the NSE Nifty 50 and BSE Sensex indices at open.
So far in the day, the indices fell as much as 0.96% and 1.36% down, respectively.
Samvardhana Motherson International Ltd., Bharti Hexacom Ltd., Amber Enterprises Ltd., Mtar Technologies Ltd. were the worst performers in the broader markets.
Stock Market LIVE: Nifty Metal Falls As Tata Steel, JSW Steel Shares Weigh
The NSE Nifty Metal index fell 0.94% to 10,184.95 as JSW Steel Ltd. and Tata Steel Ltd. shares weighed.
The Government levied provisional safeguard duty of 12% for 200 days, which expired on Thursday. Domestic steel prices are still at September level, Nuvama said.
The Ministry of Finance is yet to give go ahead on 12% safeguard duty.
Stock Market Today: Nifty IT Falls Over 1%
The NSE Nifty IT index fell 1.67% to 34,769.25. Coforge Ltd., LTIMindtree Ltd., and Persistent Systems Ltd. shares declined the most.
Sectoral Performance At Open: Nifty IT Leads Losses
Nifty Detractors: Airtel, HDFC Bank, Tata Consultancy Services Weigh
Markets At Open: Nifty, Sensex Extend Losses
The NSE Nifty 50 and BSE Sensex extended losses at open as Bharti Airtel Ltd. and HDFC Bank Ltd. shares weighed. The indices were trading 0.51% and 0.58% down, respectively as of 9:20 a.m.
Lenskart IPO Listing Date And Latest GMP Ahead Of Market Debut Next Week
IPO listing of Lenskart Solutions Ltd. will be in focus as investors await the company's debut on the stock market.
Despite the Lenskart Solutions IPO closing with an overwhelming 28.27 times subscription, the Grey Market Premium (GMP), an unofficial barometer of listing expectations, has slid sharply from a high of Rs 95 to just Rs 34. This significant volatility in the unlisted market, which now suggests a modest listing gain of around 8.46% over the Rs 402 price band, reflects a cautious sentiment among traders, who may be pricing in concerns over the company's rich valuation ahead of its market debut on November 10.
Citi Research Projects Over 50% Upside Potential For LIC Despite Slashing Target Price
Citi Research slashed Life Insurance Corp's target price despite the company reporting strong numbers for the July–September. It reduced the target price to Rs 1,354 from Rs 1,370 apiece. The current target price implies a 51% upside potential from Thursday's close price.
The brokerage maintained a buy rating on the stock. It will monitor market share stabilisation in individual annualised premium equivalent for any re-rating.
Gold Price Advances To Rs 1,21,090 Levels
Gold prices in India stood at Rs 121,090 on Friday. Gold held steady as traders assessed remarks from Federal Reserve officials alongside data revealing a sharp slowdown in the US labor market, heightening expectations for lower interest rates.
IPO News: Shares Of Studds Accessories To Debut On Dalal Street Today
Shares of Studds Accessories Ltd. will be in focus as investors await the debut of the helmet manufacturer on the stock market on Friday, November 7.
The initial public offering (IPO) of Studds Accessories, which opened for subscription on Thursday, October 30, closed on Monday, November 3 with a robust response from investors. The mainboard offer was booked over 73 times on Monday, with investors bidding for 39,92,36,150 shares against the 54,50,284 on offer.
Asia Markets LIVE: Japan's Nikkei 225 And South Korea's KOSPI Fall
Markets in most regions in Asia declined early trade Friday mirroring overnight moves on Wall Street. US stock indices declined on weak job data and concern over artificial intelligence stocks' valuation.
The Nikkei 225 and KOSPI were trading 1.90% and 1.29% down, respectively as of 7:18 a.m.
LIVE: GIFT Nifty Hints At Negative Open; Bajaj Housing, Triveni Engineering, HCC Shares In Focus
The GIFT Nifty was trading 0.11% or 28.50 points lower at 25,511 as of 6:56 a.m., which implied a slight lower open for the benchmark index.
Bajaj Housing Finance Ltd., Triveni Engineering Ltd., HCC Ltd., Mankind Pharma Ltd., NHPC Ltd., ABB India Ltd. shares will likely be in focus for second-quarter earnings.
The NSE Nifty 50 and BSE Sensex declined for a second session as Grasim Industries Ltd. and Hindalco Industries Ltd. shares weighed. The indices closed 0.34% and 0.18% down, respectively at close.
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