Nifty above 19,800 level, Tata Technologies IPO fully subscribed

The frontline indices traded continued to trade with minor gains in mid-morning trade. The Nifty traded above the 19,800 level. Metal stocks declined after advancing in the past trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 37.37 points or 0.06% to 65,968.14. The Nifty 50 index added 20.15 points or 0.10% to 19,803.55.

In the broader market, the S&P BSE Mid-Cap index rose 0.07% while the S&P BSE Small-Cap index fell 0.39%.

The market breadth was positive. On the BSE, 1,793 shares rose and 1,710 shares fell. A total of 168 shares were unchanged.

Buzzing Index:

The Nifty Metal index lost 0.48% to 6,821.35. The index advanced 1.12% in the past trading session.

Jindal Stainless (down 4.38%), Welspun Corp (down 1.89%), National Aluminium Company (down 1.71%), Adani Enterprises (down 1.26%), Hindustan Zinc (down 0.86%), Vedanta (down 0.69%), Steel Authority of India (down 0.66%), Hindalco Industries (down 0.6%), Ratnamani Metals & Tubes (down 0.29%) and JSW Steel (down 0.21%) declined.

On the other hand, APL Apollo Tubes (up 1.41%) ,Hindustan Copper (up 0.79%) and NMDC (up 0.44%) edged higher.

IPO Updates:

The initial public offer (IPO) of Tata Technologies received bids for 8,44,31,790 shares as against 4,50,29,207 shares on offer, according to stock exchange data at 11:15 IST on Wednesday (22 November 2023). The issue was subscribed 1.88 times.

The issue opened for bidding on Wednesday (22 November 2023) and it will close on Friday (24 November 2023). The price band of the IPO is fixed at Rs 475-500 per share. An investor can bid for a minimum of 30 equity shares and in multiples thereof.

The IPO of Flair Writing Industries received bids for 64,83,288 shares as against 1,44,13,188 shares on offer, according to stock exchange data at 11:18 IST on Wednesday (22 November 2023). The issue was subscribed 0.45 times.

The issue opened for bidding on Wednesday (22 November 2023) and it will close on Friday (24 November 2023). The price band of the IPO is fixed at Rs 288-304 per share. An investor can bid for a minimum of 49 equity shares and in multiples thereof.

The IPO of Gandhar Oil Refinery (India) received bids for 2,21,31,912 shares as against 2,12,43,940 shares on offer, according to stock exchange data at 11:21 IST on Wednesday (22 November 2023). The issue was subscribed 1.04 times.

The issue opened for bidding on Wednesday (22 November 2023) and it will close on Friday (24 November 2023). The price band of the IPO is fixed at Rs 160-169 per share. An investor can bid for a minimum of 88 equity shares and in multiples thereof.

The IPO of Fedbank Financial Services received bids for 78,47,059 shares as against 5,59,23,660 shares on offer, according to stock exchange data at 11:21 IST on Wednesday (22 November 2023). The issue was subscribed 0.14 times.

The issue opened for bidding on Wednesday (22 November 2023) and it will close on Friday (24 November 2023). The price band of the IPO is fixed at Rs 133-140 per share. An investor can bid for a minimum of 107 equity shares and in multiples thereof.

The IPO of Indian Renewable Energy Development Agency (IREDA) received bids for 1,28,32,14,160 shares as against 47,09,21,451 shares on offer, according to stock exchange data at 11:21 IST on Wednesday (22 November 2023). The issue was subscribed 2.72 times.

The issue opened for bidding on Tuesday (21 November 2023) and it will close on Thursday (23 November 2023). The price band of the IPO is fixed at Rs 30-32 per share. An investor can bid for a minimum of 460 equity shares and in multiples thereof.

Global Markets:

Most of the Asian stocks were trading lower on Wednesday after minutes from the U.S. Federal Reserve�s recent meeting revealed that policy officials maintained that monetary policy had to be restrictive and had little appetite for rate cuts.

US stocks dipped on Tuesday while minutes from the Federal Reserve�s most recent meeting showed the central bank is "in a position to proceed carefully". The Fed�s minutes from its October 31-November 1 meeting showed the policy makers wrestling with conflicting signals and agreeing to continue with caution after voting to leave the Fed funds target rate at 5.25-5.50%.

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