EMS LIMITED IPO (Subscribe)
Highlights Issue Size – 15,224,923 sharesIssue Open/Close – Sept 08 /Sept 12, 2023 Price Band (Rs.) 200 – 211Issue Size- 3,212 mnFace Value (Rs) 10Lot Size (shares) 70 EMS Ltd. incorporated in 2010 is in the business of (i) Sewerage solution providers (ii) Water Supply Systems (iii) Water and Waste Treatment Plants (iv) Electrical Transmission and Distribution (v) Road and Allied...
Market Morning Notes For 7th Sept 2023
Backed by last-hour buying activity, the domestic equity markets managed to extend their winning streak for the fourth consecutive session. The markets remained sluggish during most part of the day, initially impacted by a sudden spike in oil prices due to Saudi Arabia and Russia’s decision to extend production cuts until December. Additionally, there was selling pressure on metal...
Market Morning Notes For 6th Sept 2023
Markets witnessed a euphoric upmove in broader markets especially the midcap and small-cap segment despite USDINR crossing above 83 and Brent trading above 90$. A similar euphoric phase in the midcap and small-cap phase was witnessed in 2008 when the monthly RSI displayed V-divergence from the overbought zone and prices followed with a steep decline. Currently, Brent crude prices have crossed...
Market Morning Notes For 5th Sept 2023
Markets began on a positive note on Monday with Nifty surpassing the psychological mark of 19,500 and formed a doji star on the candlestick along with a negative reversal in RSI. As doji star has occurred after retracing 38.2%, we can expect a major reversal on the breach of yesterday’s low which is placed at 19432. Meanwhile, a negative reversal would also tempt many traders to open short...
Weekly Market Wrap From 28th Aug to 1st Sept 2023
Nifty bounces from support; Global cues, Brent prices to be watched Nifty closed in the green after 5 consecutive losses on the weekly chart. Buying interest was seen in metal stocks followed by auto and consumer durable stocks last week. Conversely, there was a trend of profit-taking in oil & gas, FMCG and pharmaceutical stocks. Healthy macroeconomic data, including the June quarter...
Market Morning Notes For 4th Sept 2023
Markets witnessed a sharp jump on Friday which helped Nifty to end 5 weeks of losing streak and post weekly gains of closer to 1%. Friday’s rebound was mainly on the back of retail euphoria which suddenly pumped an additional Rs 32,000 crore into the system compared to the previous day and this may be termed as unusual buying to protect weekly closing. Friday’s up move has the maximum...
Market Morning Notes For 1st Sept 2023
Markets confirmed major trend reversal after Sensex closed below long-term support of 64,836 thus activating a bearish engulfing line on a monthly candlestick chart. This move is significant as most of long-term investors may use this signal for long liquidation unless a new buy signal emerges on a monthly basis. The immediate downside projection is seen 12% lower which turns out to be 57,084...
Rishabh Instruments Ltd IPO (Avoid)
Highlights Issue Size – 11,128,858 sharesIssue Open/Close – Aug 30/Sept 1, 2023 Price Band (Rs.) 418 – 441Issue Size- Rs 4,651 mn – 4,907 mnFace Value (Rs) 10Lot Size (shares) 34 Rishabh Instruments Limited is a vertically integrated player incorporated in 1982, involved in designing, developing, manufacturing and supplying (a) Electrical Automation Devices; (b)...
Market Morning Notes For 31st Aug 2023
Markets failed to carry opening momentum on Wednesday despite positive global market cues and finally ended unchanged. In fact, Nifty 50 retreated before touching 19,467 which clearly indicates bulls have lost control of the markets. Today being a monthly losing, it would throw necessary signals for long-term investors about the trend change. A negative closing of -0.38% or below 64836 in...