Pipavav Shipyard IPo subscribed 2.67 times & market also rises…
The initial public offering (IPO) of Pipavav Shipyard Ltd, which was opened for the public on Wednesday, got subscribed within a few hours, indicating availability of enough liquidity in the market. The IPO got oversubscribed by 2.67 times, as it received bids for 18.71 crore shares against the issue size of 7.01 crore shares.
“The put-call ratio was 1.63 on Wednesday. It indicates a positive bias for the markets, and if other factors such as foreign fund flows remain good, the market is poised to move ahead.
Reliance Industries was too volatile as some selling was seen in the stock throughout the trading session.” Reliance Industries ended the day at Rs 2,183.50, a gain of Rs 3.35 or 0.15%.
All the sectors in the BSE sectoral indices ended the day on positive terrain with metal and auto stocks being the top performers. Steel Authority of India added 6.98% or Rs 11.70 to end the day at Rs 179.40. In the auto sector, Hero Honda Motors closed the day at Rs 1,674.10, a gain of Rs 58.95 or 3.65%.
According to the provisional figures by the BSE, foreign institutional investors were net buyers at Rs 1,105.64 crore, while domestic institutional investors were also buyers
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