Page 49 - Prashanth Tapse News Today

For a company which markets tear-free soaps and shampoos, its IPO was hardly a cheery affair, at least for retail investors.

On the stock-specific front, Tata Power, KIMS, MTAR Tech, RITES, Oberoi Realty, Devyani International and some other counters will be in focus today.

BSE's Sensex added 33.21 points, or 0.05 per cent, to end at 64,975.61. NSE's Nifty50 gained 36.80 .05 points, or 0.19 per cent, to end the day at 19,443.50 for the day

"I believe that spotting a gem in a falling market is a myth, being a fundamental research analyst, I believe risk-and-return are part of investing and identifying gems or a multibagger in the stock market which requires research, a disciplinary approach, high patience, and a willingness to take calculated risks and holding it for long-term."

Despite high valuations and mixed views from analysts, Mamaearth IPO was subscribed 7.6 times at close, led by strong interest from institutional investors. Analysts said most issues with high valuations in the recent past have struggled to deliver post listing. The company is valued at Rs 10,425 crore in the post-issue market cap.

Post the debut, analysts advised investors to book profits in Mamaearth notwithstanding the companys strong brand presence in the Indian BPC market. In their view, most issues with premium valuations struggled to deliver after the listing.

Mamaearth parent Honasa Consumer Listing: It traded with volume of 3.01 crore equity shares on the NSE, while on the BSE, the traded volume was 8.22 lakh shares.

Between Navratri and Diwali, bank stocks have given positive returns 7 out of 10 times, auto 8 out of 10 times and consumer durables 9 out of 10 times.

Cello World shares opened at Rs 829 on the NSE and Rs 831 on the BSE against the IPO price of Rs 648

Foreign institutional investors offloaded shares worth Rs 12.43 crore, while domestic institutional investors bought Rs 402.69 crore worth of stocks on November 3, provisional data from the National Stock Exchange showed.