On the NSE, a total 1.05 million shares or 2.2 per cent of the equity of the company had changed hands till 10:11 am
Stocks to Watch: With oil prices staging a dramatic reversal, related stocks, along with rate-sensitive sectors will be on the radar as RBI announces its monetary policy outcome Friday.
In the past one month, the stock underperformed the market by falling 24 per cent, after Indigo Paints reported a disappointing set of numbers for Q3FY22 mainly in margin front.
In line with the industry, Indigo Paints had also increased the product prices in the December quarter to mitigate the sharp escalation in the price of raw materials.
Indigo Paints zooms 16% after brokerage firm Motilal Oswal gives Buy rating; SmallCap Responsive Industries zooms 65% in 3 days on FY22 half-yearly turnaround
The stock had recently hit a fresh 52-week low of Rs 1,900 on December 27, 2021
In the past one month, the stock has underperformed the market by falling 11 per cent, after the company reported a disappointing set of numbers for quarter ended September 2021
The stock was trading lower for the fourth straight day, down 5.5 per cent during the period
Renuka Ramnath-led Multiples Private Equity sold nearly 12 lakh shares of multiplex chain operator PVR worth Rs 179 crore through open market transactions
Stellar debut becomes on back of hugely oversubscribed IPO, with 117 times more demand than shares on offer
The IPO of Indigo Paints had garnered 117 times subscription, generating bids worth Rs 96,222 crore
State-owned Coal India's coal production declined by 4.1 per cent to 60.5 million tonne (MT) last month
Given the strict trading restriction a 'short squeeze' strategy is difficult to execute in India.
The qualified institutional buyer (QIB) portion of the issue was subscribed 190x, while the high networth individual or HNI segment was subscribed 263x
IPO consists of Rs 300 crore in fresh fund raise and Rs 870 cr of secondary share sale. issue closes Friday
In this podcast, Mr Vinod Nair, Head of Research at Geojit Financial Services and Mr. Ajit Mishra, VP Research, Religare Broking discusses and compares the IPOs of Indigo Paints and Home First Finance
Sectorally, all except Nifty FMCG index ended the day in the green on the NSE with the FMCG index closing down 0.16 per cent
The recent reversal in paint stocks may see aggravated buying momentum after conquering significant resistances
Business Standard brings the top news of the evening
Indigo Paints is the fastest-growing paints company in India in terms of revenues, in a highly oligopolistic paint market.