Sensex volatile, Midcap outperforms; Endurance lists
at Rs 572:
Equity benchmarks continued to
consolidate after yesterday's sharp run as investors awaited more quarterly
earnings. The broader markets marginally outperformed benchmarks. Endurance
Technologies surged 22 percent on debut. The stock opened at Rs 572 per share
against issue price of Rs 472 per share.
Varun Beverages has set a price
range of Rs 440-445 each for its planned initial public offering (IPO), which
is targeting to rise between USD 165 million and USD 167 million, according to
a term sheet of the deal obtained by IFR. Varun Beverages is offering up to 25
million shares, comprising 15 million primary and the rest secondary shares,
representing 13.7 percent of the expanded capital, the terms showed. The
company will have a market value of about USD 1.2 billion after the IPO, which
will be open for subscription between October 26-28, the terms showed. The
shares will start trading on or around November’8.
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Economy is embarking on strong earnings cycle: HDFC MF:
The market currently is fairly valued, but equities will
always be volatile in near term, says Prashant Jain, CIO of HDFC Mutual Fund,
adding that one must invest into equities at any point the market corrects due
to global reasons.
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