MFs subscribe to IPOs, up play in health, chemical stocks

Fund managers have shown high conviction in Initial Public Offers during August. They subscribed to the issues of , Nuvoco Vistas, Devyani International, CarTrade Tech and Krsnaa Diagnostics as many of these companies have unique business models and leadership positions within their industries. Leading fund houses have followed a bottom-up approach while picking stocks amid … Read more

Day 1: Sona Comstar’s Rs 5,500 crore IPO gets off to a muted start

MUMBAI: Sona BLV Precision Forgings, also known as Sona Comstar saw a muted response from investors on the first day of its Rs 5,500-crore initial public offering. The IPO was subscribed merely 11 per cent at the end of day one. At 5:00 pm, only 1,13,93,298 shares of the company received bids out of a … Read more

Promoter pledges see some increase in May

A few brokers said promoters of some small companies were raising funds by pledging shares to invest in the stock market. Synopsis Shares pledged by promoters of companies listed on the National Stock Exchange increased to 1.53% of the total market capitalisation of all the companies listed on the exchange from 1.51% in April, according … Read more

FPI flows take Sensex to new high

Mumbai: Unabated foreign investor purchases and lower-than-expected contraction in the Indian economy are keeping the stock market humming. Key indices closed at record highs on Tuesday but simmering consumer inflation and rich valuations are keeping market participants on the edge. While investors have taken note of the advancing bond yields in the past month on … Read more

CLSA upgrades TechM to ‘buy’; bullish on Infosys, HCL

Mumbai: CLSA has upgraded Tech Mahindra to ‘buy’ and rated Infosys and HCL Technologies as its preferred picks ahead of the September quarter results season. The foreign brokerage also said the risk-reward for TCS is attractive at current levels. CLSA has maintained a ‘buy’ rating on HCL Tech and raised the price target by 11.5% … Read more