Share Market Live: Sensex, Nifty Edge Higher; Larsen & Toubro Leads Advance
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S&P BSE Capital Goods Index Up Nearly 3%
PolicyBazaar IPO Subscription Status: Day 3 Live Updates
Retail and institutional investors bid for the shares of PB Fintech Ltd., the parent of policybazaar.com and paisabazaar.com, on the third day of the initial public offering. The offer subscribed 1.59 times on day 2.
Subscription Details: Day 3
The IPO was subscribed 2.03 times as of 11:30 a.m. on Nov. 3.
Institutional investors: 2.72 times.
Non-institutional investors: 0.36 times.
Retail investors: 2.37 times.
SJS Enterprises IPO Subscription Status: Day 3 Live Updates
Retail investors continue to bid for the shares of SJS Enterprises Ltd. on the third day of its initial public offering.
The issue ended with 32% and 51% subscriptions on day one and two, respectively.
Subscription Details: Day 3
The IPO was subscribed 0.60 times or 60% as of 11:30 a.m. on Nov. 3.
Institutional investors: 0.12 times.
Non-institutional investors: 0.08 times.
Retail investors: 1.10 times.
Rupee Outperforms Peers On Strong PMI, IPO Flows
India’s rupee was the sole gainer among emerging Asian currencies, helped by inflows from foreign investors seeking to participate in an IPO boom in India’s stock market as well as strong PMI data for October. Bonds traded little changed.
USD/INR fell 0.1% to 74.6200 on Wednesday
10-year yields steady at 6.36%
Source: Bloomberg
Larsen & Toubro Advances Nearly 5%; Trading Volume Surges
Shares of Larsen & Toubro Ltd. rose 4.79% in intraday trade, the biggest intraday gain in two weeks, to Rs 1,902.6 apiece.
Trading volume was triple the 20-day average volume, for this time of the day.
Larsen & Toubro trades at 27 times the estimated earnings per share for the coming year.
Analysts have 40 'buy', one 'hold' and one 'sell' recommendations on the stock. The overall consensus price of analysts tracked by Bloomberg implied an upside of 14.4%.