Asian Paints investors lose over $5.5 billion wealth in the last three sessions. The stock dropped over 14% in this period
Aether Industries IPO updates:
Speciality chemicals company Aether Industries Ltd’s initial public offering (IPO) had been subscribed 56 percent by the morning of May 26, the third and final day of booking. Investors had bid for 52.3 lakh units against an IPO size of 93.56 lakh shares.
Retail investors had bid for 73 percent of the portion set aside for them, while non-institutional investors have subscribed to 19 percent of their 19.47 lakh share quota. Qualified institutional buyers (QIB) sent in bids for 52 percent of the 27.48 lakh shares reserved for them, while the employee portion was booked 94 percent.
Buzzing stock:
Shares of Asian Granito fell over 6 percent on May 26 after ANI reported that the Income Tax Department is currently raiding the premises of the company. The report said that tax authority was raiding over 35 premises across Gujarat including those of Asian Granito.
The raid by the tax authority comes days after the company completed land acquisition for all three of its greenfield manufacturing plants in Morbi, Gujarat. The company planned to commence construction of the three facilities soon, a ANI report said.
#OnCNBCTV18 | There will be a material slowdown in the revenues of IT companies going forward. Near-term demand drivers in FY23 are still positive, says Abhishek Bhandari of Nomura pic.twitter.com/OY93eKXzzf
— CNBC-TV18 (@CNBCTV18Live) May 26, 2022
Market Update at 11 AM: Sensex is down 211.36 points or 0.39% at 53537.90, and the Nifty shed 88 points or 0.55% at 15937.80.
ITI was quoting at Rs 92.70, up Rs 8.85, or 10.55 percent and trading with volumes of 141,855 shares, compared to its five day average of 12,869 shares, an increase of 1,002.27 percent.The share touched a 52-week high of Rs 143.70 and a 52-week low of Rs 80.35 on 16 July, 2021 and 13 May, 2022, respectively. Currently, it is trading 35.49 percent below its 52-week high and 15.37 percent above its 52-week low.
Aurobindo Pharma arm receives USFDA approvalAurobindo Pharma is pleased to announce that its wholly owned subsidiary company, Eugia Pharma Specialties Limited, has received a final approval from the US Food & Drug Administration (USFDA) to manufacture and market Pemetrexed for Injection, 100 mg, 500mg and 1000mg.
IndiGo shares jump 10% as airline plans to hike fares with focus on profitability
The firm reported a consolidated net loss of Rs 1,681.80 crore . Revenue of the company jumped 29% from a year ago to Rs 8,020.75 crore. Operating profit margin contracted sharply to 2.1% in the…
Citi View On Coal India
Brokerage firm Citi has maintained a neutral rating on Coal India but raised the target price to Rs 180.
E-auction realisations were below expectations. With environmental, social and governance concerns, significant re-rating might not be easy, CNBC-TV18 reported.
Coal India was quoting at Rs 179.25, down Rs 1.35, or 0.75 percent on the BSE.
BSE Auto index slipped 1 percent dragged by the Tata Motors, Sundram Fasteners, Tube Investments of India
Aether Industries IPO Updates:
Speciality chemicals company Aether Industries Ltd’s initial public offering (IPO) had been subscribed 50 percent by the morning of May 26, the third and final day of booking. Investors had bid for 46.65 lakh units against an IPO size of 93.56 lakh shares.
Retail investors had bid for 69 percent of the portion set aside for them, while non-institutional investors have subscribed to 16 percent of their 19.47 lakh share quota.
Qualified institutional buyers (QIB) sent in bids for 39 percent of the 27.48 lakh shares reserved for them, while the employee portion was booked 93 percent.
Today’s Stock Market Action
