Domestic stocks are likely to open on a cautious note ahead of the outcome of the US Fed s two-day policy meeting, where the US central bank is likely to raise economic forecasts and repeat a pledge to remain accommodative for the foreseeable future.
Here s the breaking down the pre-market actions:
STATE OF THE MARKETS
Nifty futures on the Singapore Exchange traded 40.5 points, or 0.27 per cent, higher at 15,012.50 in signs that Dalal Street was headed for a positive start on Wednesday.
Tech View: Nifty support seen at 50-DMA
Nifty declined for the third straight session on Tuesday and formed a bearish candle on the daily chart. During the day, the index broke below its 20-day moving average. Analysts said the market is likely to see sideways action now, but any failure to stage a recovery from here on could potentially send the Nifty tumbling towards the 14,720 level, which is near Nifty s 50-day simple moving average.
Chemicals maker Anupam Rasayan initial public offering subscribed 44 times business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
The initial public offer of speciality chemicals company Anupam Rasayan India Limited was subscribed 1.29 times on the first day of subscription on Friday. The Rs 760-crore public issue received bids for 1,25,08,209 shares against 97,01,809 shares on offer, according to NSE data. The category for non-institutional investors was subscribed 9 per cent and those for retail individual investors (RIIs) 2.58 times. Price range for the offer, which would close on Tuesday, has been fixed at Rs 553-555 per share. Anupam Rasayan had on Wednesday raised Rs 225 crore from anchor investors. The initial public offer (IPO) is an entirely fresh issuance of equity shares and proceeds of the issue would be mainly used to pay the debt.
Anupam Rasayan India Limited IPO of Equity Shares to open on Friday, March 12, 2021
Posted On: 2021-03-08 06:00:41 (Time Zone: Arizona, USA)
Surat based, custom synthesis and manufacturing focused specialty chemicals company Anupam Rasayan India Limited( Company or Anupam Rasayan ), will open the Bid/Issue period in relation to its initial public offering of Equity Shares (the Issue / IPO ) on Friday, March 12, 2021 and close on Tuesday, March 16, 2021. The price band for the Offer has been decided at Rs. 553.00 - Rs. 555.00 per Equity Share. The Company may, in consultation with the book running lead managers (the BRLMs ), consider participation by Anchor Investors which shall be one Working Day prior to the Bid / Issue open Date, i.e. Wednesday, March 10, 2021.