Gold futures on MCX were trading marginally higher by 0.11 per cent or Rs 53 at Rs 49,090 per 10 grams. Silver futures were up 0.27 per cent or Rs 179 at Rs 66,413 per kg.
Go Fashion IPO is a mix of issuance of fresh equity shares worth Rs 125 crore and offloading of stakes by promoters and shareholders of 12,878,389 equity shares worth Rs 888.6 via the offer for sale (OFS) route.
The Nifty Bank index was trading 0.31 per cent up at 38427.7.
A total of 16,462 shares changed hands on the counter till 10:31AM (IST).
Promoters held 38.4 per cent stake in the company as of 30-Sep-2021, while FII and DII ownership stood at 37.77 per cent and 10.96 per cent, respectively.
Berger Paints (India) Ltd., incorporated in the year 1923, is a Large Cap company (having a market cap of Rs 77912.43 Crore) operating in Building Materials sector.
The stock traded at a P/E multiple of 13.77, while the price-to-book value ratio stood at 0.99.
“Some of the auto ancillaries which are either neutral to this change in technology or are part of the EV ecosystem will do pretty well and some of the traditional OEMs who are embracing this change will also do very well.â€
“Within the entire auto pack, we are positive on M&M and Maruti Suzuki. In the BFSI pack, we like Bank of Baroda (BoB) and Punjab National Bank (PNB). These two stocks can be picked up at current levels.â€
Investors are already sensing the potential of a turnaround for a sector that has been troubled in the recent past due to the economic slowdown, the pandemic and the production delays. The Nifty Auto has risen more than 10 per cent since October.
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