Page 10 - Wright Research News Today

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On both BSE and NSE, the stock with the symbol of JIOFIN will trade in the T Group segment for the first 10 days. The upper and lower circuit limit would be restricted to 5% which will restrict any major movement in the debutant.

Jio Financial Services much-anticipated listing on BSE and NSE starts today. Discover insights into valuation, Grey Market Premium (GMP), and the future outlook at news18.com

As part of a special price discovery session held on the record date of July 20, the new stocks pre-listing price came out to be Rs 261.85 per share, which was much higher than the brokerage estimate of around Rs 190 and RILs cost of acquisition of Rs 133. Shares of the NBFC were credited to demat accounts of eligible RIL shareholders last week in 1:1 ratio, which means that for every RIL share held as on the record date of July 20, shareholders got one share of JFSL.

“The IT sector, buoyed by an ever-increasing global reliance on technology, looks primed for more growth. Pharma, on the other hand, is benefiting from the dual boost of a growing domestic market and increased demand for generics,” she said in an interview to ETMarkets.

Das added that the prevailing CRR will remain unaffected. The current CRR in India is 4.5%.

Adani-owned Ambuja Cements recent acquisition is seen helping the company scale up capacity at a lucrative cost and emerge as one of the dominant players in western India over the medium term, although question marks remain over the immediate prospects of the freight-heavy primary building material that is decidedly regional in its pricing dynamics and determination of market power.

Our journey over the past four years has underscored the strength and potential of quant strategies in the Indian market, fueling our eagerness to witness their transformative impact on PMS.

While some brokerages believe there is limited upside as the stock is expensive, others feel the company is well-placed in the long term due to global and domestic growth opportunities.

The June quarter shareholding pattern data shows that FIIs pared their stake in Infosys by another 165 bps to 33.44%. In the case of Tech Mahindra, which will report its Q1 results on Wednesday, FII holding went down by 118 bps to 25.69%.