Pharma edges higher; Tata Tech IPO sees robust bidding


by mydhanush on 24 November 2023,  3 min read

Stock Market News

The pharma index gained over 1 percent while buying was also seen in the realty and metal space.

Indian equity markets continued trading flat, dragged by losses in China and in the absence of guidance from Wall Street, which was closed for the Thanksgiving holiday.

At 12:08 PM, Sensex was marginally up by 11 points at 66,029 mark while Nifty added 12 points and was trading at 19,814 level. Around 1,281 stocks advanced while 951 declined and 100 remained unchanged.

Among the sectors, the pharma index gained over 1 percent led by Granules India and Lupin which jumped 3-4 percent each followed by Gland Pharma, Cipla, Glenmark Pharma and Divis Labs which added 2 percent each.

Realty and metal stocks also edged higher led by Phoenix Mills which jumped over 7 percent followed by Hindustan Copper, NMDC and Hindalco Industries which were up 1-3 percent each.

Top Nifty50 Gainers:                                        Top Nifty50 Losers:

Tata Technologies IPO:

The Tata Technologies IPO’s Rs 3,042.51-crore offer saw 21.86 times subscription with bids coming in for 98.41 crore equity shares against an issue size of 4.5 crore on November 24, the final day of bidding.

On Day 3, of the last day of bidding, qualified institutional buyers subscribed 20.82 times of the issue allocated to them while high net-worth individuals (non-institutional investors) booked 45.35 times of their allotted portions.

Retail portion was booked 13.61 times while the employee portion was subscribed to the tune of 2.91 times with the reserved portion booked to the tune of 24.53 times.

Most active stocks on NSE in terms of volumes:

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.

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