Domestic equity markets began trading on Friday morning down in red. S&P BSE Sensex gave up 50,000 on opening while Nifty was seen trading below 14,800 levels. Bharti Airtel was the only Sensex stock to move with gains. Banking stocks including ICICI Bank, HDFC Bank were the top drags, followed by Reliance Industries Limited. India VIX or the volatility gauge shot up 11%.
RailTel’s shares will make their stock market debut today. The Rs 819 crore initial public offering (IPO) from the Ministry of Railways, its second public issue of 2021, had earlier this month garnered a subscription tally of 42.39 times. Incorporated in 2000, RailTel is an information and communications technology infrastructure provider and one of the largest neutral telecom infrastructure providers in the country. The issue was an offer for sale (OFS) with the government looking to trim its stake in the firm. Shares were offered in the price band of Rs 93-94 per share with the minimum application size at 155 equity shares.