Trident Techlabs News Today

Investors high on SME IPOs with up to 1,300% returns. Marquee investors, top performers like Owais Metal & Mineral Processing, and risks of market manipulation highlighted. Emphasis on due diligence and investor awareness.

Jaipur-based AIK Pipes and Polymers opened its IPO for subscription from December 26 to 28 with a price band of ₹89 per share.

Tata Motors share price has doubled in 2023, making it the only stock in the Nifty 50 index to achieve this feat this year.

The Rs 16-crore IPO of Trident Techlabs was subscribed over 700 times at close. The retail category of the issue breached 1000 times subscription, while the NII portion came close at 854 times subscription. The QIB part was the least subscribed, but still received over 100 times bids.

After being subscribed over 700 times, Trident Techlabs stocks made their stellar debut at the stock market at 180 percent premium.

Profit booking soon trickled into the counter post listing, pulling the stock down 5 percent as investors rushed too book the stellar listing gains.

The Nifty 50 index has now expanded its trading range, with an upper boundary around 21,800 to 22,000, while support is observed in the range of 21,700 to 21,600.

Unlisted shares of Trident Techlabs Ltd are currently trading Rs 50 higher in the grey market, which is a 142.86 per cent listing gain from the public issue, Trident Techlabs IPO Closes Today: Check Subscription Status, GMP Today

The IPO, which opened for public subscription on December 21, Thursday, has seen particular fervor in specific investor categories.

Experts expect the market to remain rangebound in the last week of the year 2023.