Four Nifty500 stocks, Balkrishna Industries, Aegis Logistics, PhysicsWallah and OneSource Specialty Pharma, closed over 3% below VWAP, highlighting bearish sentiment and weakening price momentum.
The company’s shares are commanding a premium of nearly Rs 21 over the upper price band of Rs 214, suggesting an estimated listing price of approximately Rs 235 per share if the current market sentiment sustains through listing day.
Diamond jewellery maker and exporter Goldiam International has fixed July 10 (Friday) as the record date for its 1:3 bonus issue, effectively marking today the last chance for interested investors to buy shares of the company to be eligible for the bonus reward.
The anchor book will open on Monday, July 13. The IPO will open for subscription on Tuesday, July 14, and close on Thursday, July 16.
Brent crude futures gained 78 cents, or 1%, to $78.8 a barrel while U.S. West Texas Intermediate (WTI) crude futures rose 74 cents, or 1.01%, to $74.26 a barrel. On Wednesday, the two benchmarks had settled at their highest levels in more than two weeks after U.S. President Donald Trump warned of additional strikes on Iran as early as Wednesday night.
The IPO received a solid response on Day 1, with the issue subscribed 3.45 times against the 1.14 crore shares on offer. The retail investor portion was subscribed 3.52 times, while the Non-Institutional Investors (NIIs) category saw a strong 7.35-times subscription.
Laser Power & Infra plans a ₹742 crore IPO to repay debt and fund expansion. The company expects growth from power infrastructure and network expansion projects. Revenue and profits have risen, and return ratios have improved significantly. However, elevated debt and raw material price volatility pose risks. The issue is suitable for long-term investors with higher risk tolerance.
The U.S. SEC cleared a key legal hurdle for UBS by allowing potential debt-to-equity conversions under its crisis-resolution plan without enforcement action. The move supports “bail-in†mechanisms directed by Swiss regulators and addresses cross-border issues exposed during the Credit Suisse rescue, strengthening UBS’s contingency framework.
U.S. stocks closed lower after Donald Trump declared the Iran deal “over,†raising fears of further conflict and pushing oil prices higher. The Dow dropped sharply while the S&P 500 slipped. Chip stocks gained on Apple’s Broadcom deal, but inflation concerns and IMF growth cuts weighed on sentiment.
US central bank officials discussed rising inflation at their recent meeting. Most participants saw inflation falling on its own, but some favored immediate rate hikes. The committee ultimately decided to keep interest rates steady for now. Policymakers also considered shortening the policy statement and ending forward guidance. New projections indicated a growing sentiment for a rate increase later this year.
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