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The company has allotted 29,27,485 equity shares to anchor investors at Rs 175 apiece, valuing the transaction at Rs 51.23 crore, according to a circular uploaded on the BSE website.

The Relative Strength Index (RSI) on the daily chart stood at 67.93; it has slipped below the 70 mark from the overbought zone. The daily MACD has shown a negative crossover; it is now bearish and trades below the signal line.

The sale price has been fixed at Rs 1021 to Rs 1072.30 a piece, which is as much as 4.78 per cent lower than Monday’s closing price of Rs 1072.30. As of March 31, 2021, CA Rover Holdings held a 6.50 per cent stake in the company.

The IPO includes a primary issue worth Rs 850 crore and an offer for sale up to 2.7 crore equity shares.

Ten of the 11 major S&P sectors declined in early trading. Economy-sensitive industrials, financials and energy dropped between 1.6 per cent and 3.2 per cent.

“We were relooking at all the commodity stocks and were waiting for a pullback. Now that we are witnessing one such pullback, we want to review our portfolio positioning as far as commodity companies are concerned over the next few weeks.”

Investors quite often focus on the last one-year return on a particular date to choose a mutual fund scheme for investment. There is a big fallacy in doing so.

The decentralised finance (DeFi) landscape offers multiple opportunities but smart-contract exploits are becoming an increasing concern, as fraudsters could take advantage of flaws in the code.

KFin Tech provides a wide array of financial technology solutions across a broad spectrum of asset classes spanning mutual funds, alternatives, insurance, and pension. It has been growing its market share in the mutual fund servicing segment.

Nowhere was the knee-jerk reaction felt more acutely today than in the metals space. The Nifty Metal index plummeted nearly 7 per cent in one of the biggest sell-offs the sector has seen since the dark days of March 2020. Much of that selling was in steel stocks, which reflected in Tata Steel’s 10 per cent fall.