State-run Housing and Urban Development Corporation (HUDCO) has decided to launch its initial public offering on May 8 and set a price band at Rs 56-60 per share. The IPO comprised sale of 20 crore equity shares (10 percent paid-up capital) by the central government through an offer for sale (OFS). The issue will close on May 11 and anchor investors’ portion will open for subscription on May 5.
Equity benchmarks continued to consolidate after rallying for previous three consecutive sessions with record closing high. Investors digested global optimism and further earnings recovery. The Sensex declined 30 points at 30104, while the Nifty gained 2 points at 9339.90. The market breadth was negative as 1,010 shares advanced against a decline of 1,030 shares, while 98 shares were unchanged. The Indian Rupee opened higher by 2 paise at 64.09 per Dollar.
Intraday Tips By Expert
Buy Petron Engineering Construction Ltd at above: 160.89 Targets: 175.60 – 168.20 – 180.96 – 178.41 Stop loss : 175.56
HDIL, Gurusish Construction Company received a order worth Rs. 110 crore.
Buy Allcargo Logistics Ltd at above: 192.51 Targets: 192.25- 190.41 – 194.96 – 188.53 Stop loss : 189.06
Blackstone sells 3.38 million shares of the company. Morgan Stanley, Kotak MF, Birla and SBI MF bought shares.
Company gets approval from US FDA for cholesterol medication
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