Mumbai-based Orient Technologies files DRHP for IPO
The company has developed deep expertise in creating products and solutions for specialized disciplines across IT Infrastructure, IT Enabled Services (IteS) and Cloud and Data Management Services
Markets Desk at BusinessUpturn.com
The company has developed deep expertise in creating products and solutions for specialized disciplines across IT Infrastructure, IT Enabled Services (IteS) and Cloud and Data Management Services
The Foreign Portfolio Investors (FPIs) Long-Short ratio rose from 38.24% on 16th February to 39.25% on 19th February as the FPI’s continued to build long positions in Index futures for the second consecutive day.
Top stocks to watch today are Hindalco, Zee Entertainment, Union Bank of India, Swan Energy, Devyani International.
The next rally would likely attempt to reach the 22,300-22,350 zone.
Out of the total allocation of 2,25,00,000 equity shares to the anchor investors, 75,00,000 equity shares were allocated to 7 domestic mutual funds through a total of 15 schemes amounting to Rs. 270 crore i.e. 33.33% of the Total Anchor Book Size.
The Fund’s current Assets Under Management (AUM) stand at Rs 7,424.61 Crore, as on January 31, 2024.
At 10:40 AM, Federal Bank shares were down 6.8% at Rs 151.85 on the NSE.
The shares surged almost 195% post listing. As of 10:15 AM, Vibhor Steel Tubes share price was up 193% (vs issue price) at Rs 442.50 on the NSE.
On November 30, 2023, Whirlpool Corp said it would sell up to 24% of its ownership interest in Whirlpool of India to reduce debt levels.
The Foreign Portfolio Investors (FPIs) Long-Short ratio rose from 36.47% on 15th February to 38.24% on 16th February as the FPIs were seen steadily building long positions in Index futures.
Top stocks to watch today are Whirlpool, Kotak Mahindra Bank, NBCC India, Vibhor Steel Tubes.
Markets are at new highs but the major contributor, banking, remains a laggard. Unless we see a decisive breakthrough from this space in the next couple of sessions, we may not see enough strength in Nifty to continue its trajectory in the upward direction, analysts said.
The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Thursday, February 22, 2024, for subscription and close on Monday, February 26, 2024.
The fourth quarter of 2023 emerged as the standout period of the year, accounting for nearly 40% of the total listings in 2023.
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