Market Updates
Movers: Fedbank Financial, Gandhar Oil, IDBI, Tata Technologies
Arun Goswami
30 Nov, 2023
Mumbai
Stocks lacked direction but the benchmark indexes extended weekly gains for the second week in a row and investors are awaiting the release of September quarter GDP estimate.
The Sensex index increased 262.28 points to 66,436.58, and the Nifty index rose 122.95 points to 20,012.60.
On the Mumbai stock exchange, 133 stocks traded at their 52-week highs and 14 stocks traded at their 52-week lows.
Tata Technologies, Gandhar Oil, and Fedbank Financial Services listed their initial public offerings today, lifting the totalto 205 in the year so far.
Tata Technologies offering is oversubscribed by 69 times, Gandhar Oil by 64 times, but the Fedbank offering attracted lukewarm market interest.
Tata Technologies raised ₹3,040 crore and priced its stock at the upper end of its price range, ₹500 per share.
Gandhar Oil Refinery priced its 500.7 crore offering at 169 per share and Fedbank Financial Services priced its 1,092 crore offering at ₹140 per share.
Tata Technologies jumped 8.9% to ₹1,307, Gandhar Oil Refinery advanced 10.7% to 306.10, and Fedbank Financial inched up 4.5% to ₹144.50.
Indian Renewable Energy Development Agency priced its offering at ₹32 per share, and the stock was listed at ₹50 and closed at ₹60 on the first day of its trading on Wednesday.
The public offering of the state-controlled lending institution was oversubscribed 38 times.
IDBI Bank increased 0.5% to ₹62.30 after the central government's agency resumed its process of selecting asset valuation company and advanced the auction of the government's stake in the bank.
Annual Returns
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Earnings
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