Volatility inched higher and crosses 25 levels.
Share Bazaar News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets have turned negative year to date. Sensex and Nifty have now continuously been on the downfall for the last four trading sessions. Sensex is now down 5.5% from its all-time high, achieved a week ago. The bear attack on Dalal Street could continue today amid heightened volatility owing to the monthly F&O expiry. Nifty Futures on Singapore exchange were deep down in red on Thursday morning, hinting at further weakness. Stock indices on Wall Street closed with losses as Dow Jones, S&P 500, and NASDAQ all closed over 2% lower. Major Asian stock markets too were trading with losses during the early hours of trade.
The bidding process for Stove Kraft’s initial public offering (IPO) will close today. So far the issue has been oversubscribed 1.93 times, helped by primarily retail investors alone while institutional investors remain missing. The retail category has subscribed the issue 13 times while Non-Institutional Investors have subscribed the issue 1.85 times. Qualified Institutional Buyers (QIB) have submitted bids for just 8% their quota. The home solutions and kitchen appliance manufacturer, Stove Kraft is a leading firm in the segment. “At the upper band of issue price, Stove Kraft will trade at a Price/EPS multiple of 12.0x of its annualized H1FY21 revenue, which is at a discount to its listed peer like TTK Prestige Ltd (45x), Hawkins Cookers (42.3x), and Butterfly Gandhimathi (284.3x),” said analysts at KR Choksey while giving a ‘subscribe’ rating to the IPO.
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