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Share Market Closing Note

Market ends flat ahead of weekly expiry; Hero Moto jumps 5%

Equity benchmark indices settled on a flat note on Thursday, November 23, amid mixed global cues. The S&P BSE Sensex scaled a high of 66,235.24, and a low of 65,980.50, before closing a tad in red at 66,017.81 � down 5.43 points. The NSE Nifty50 managed to sustain above the 19,800 level for the second consecutive session and closed at 19,802.

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Topic :- Time:3.00 PM

Nifty spot if manages to hold above 19780 level on closing basis then expect some upmove in coming sessions and if it closes below above mentioned level then some sluggish movement can be witnessed in the market.

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Topic :- Time:2.50 PM

Just In:

Titan Stock : M-cap crosses ₹3 lakh crore.

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Topic :- Time:2.30 PM

REGULATORY SCRUTINY

Cipla shares fall over 7% as investors react to FDA warning letter.

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Topic :- Time:2.20 PM

Just In:

Bajaj Auto aims monthly sales target of 10,000 Triumphs; new products lined up from Dec: CEO Rajiv Bajaj

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Topic :- Time:2.00 PM

Nifty spot if manages to trade and sustain above 19840 level then expect some more upmove in the market and if it breaks and trade below 19780 level then some decline can be seen in the Nifty.

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Topic :- Time:12.20 PM

Just In:

Canara Bank to raise up to Rs 5,000 crore via 10-year bonds

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Topic :- Time:12.00 PM

Nifty spot if manages to trade and sustain above 19820 level then expect some upmove in the market and if it breaks and trade below 19760 level then some decline can follow in the Nifty.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex, Nifty flat; Hero Moto rallies 4%; Bajaj Auto 3%

2. MHI orders probe to investigate role of govt officials in FAME scam

3. Give detailed information on child pneumonia outbreak: WHO to China

4. IndiGos parent firm to challenge tax demands worth over Rs 1,666 cr

5. Mamaearth share price jumps 10% after Q2 net profit doubles to ₹30 crore

6. Cipla tanks almost 7% as USFDAs letter flags data issues at Madhya Pradesh unit

7. Sterling and Wilson hits 5% upper circuit for second straight day after securing $2.2-bn Nigeria order

8. CG Power soars 28% in 2 days as it seeks nod for semiconductor assembly, test facility

9. Home First stock tumbles 5% after block deal on nearly 10% equity

10. CDSL jumps 3% as demat accounts cross 10-crore mark

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Topic :- Time:11.00 AM

After positive opening nifty is now trading flat with minor losses. Nifty spot if manages to trade and sustain above 19820 level then expect some upmove in the market and if it breaks and trade below 19780 level then some decline can follow in the Nifty.

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Share Market Closing Note

Nifty above 19,750, Sensex up 250 pts; metal, realty, pharma rally:

Among sectors, Healthcare, realty, and metal up 1 percent each, while oil & gas and capital goods down 0.5 percent each. BSE Midcap and smallcap indices are trading marginally higher.

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Topic :- 3.25 PM

Just In:

The Fedbank Financial Services IPO will be opened for subscription on November 22, with a price band at Rs 133-140 per share.

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Topic :- Time:3.00 PM

Nifty spot if manages to hold and close above 19750 level then expect some further upmove in coming sessions and if it closes below above mentioned level then some sluggish movement can follow in the market. Avoid open positions for tomorrow.

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Topic :- Time:2.30 PM

NATURALGAS Trading View:

NG is trading at 242.If it manages to hold above 240 level then expect some pull back in it and if it breaks and trade below 240 level then some decline can be seen in NG.

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Topic :- Time:2.20 PM

Just In:

IREDA IPO Day 1: Issue subscribed 0.63 times, retail portion completely booked

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Topic :- Time:2.00 PM

Nifty spot is trading at 19800.Midcaps are likely to take the momentum further. Nifty spot if manages to trade and sustain above 19820 level then expect some further upmove in the market and if it breaks and trade below 19780 level then some decline can be seen in the Nifty.

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Topic :- Time:1.50 PM

Just In:

ED issues show cause notice to Byjus for alleged FEMA violations

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Topic :- Time:1.30 PM

GOLD Trading View:

GOLD is trading at 61040. If it manages to trade and sustain above 61080 level then expect some upmove in it and if it breaks and trade below 60980 level then some decline can be seen in the Gold.

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Topic :- Time:1.20 PM

Just In:

Gandhar Oil Refinery IPO opens on November 22

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Topic :- Time:1.00 PM

Nifty is on the verge of losing some of its earlier gains however it is trading on a stronger note. Nifty spot is trading at 19771. Once it manages to trade and sustain above 19800 level then expect some upmove in the market and if it breaks and trade below 19740 level then some further decline can be seen in the market.

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Topic :- Time:12.45 PM

Just In:

Crude oil prices fall as demand worries outweigh supply cuts concerns

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Topic :- Time:12.30 PM

CRUDEOIL Trading View:

CRUDEOIL is trading at 6455. If it manages to hold above 6430 level then expect it to rise till 6490-6500 levels quite soon however if it breaks and trade below 6430 level then some decline can be seen in the Crudeoil.

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Topic :- Time:12.00 PM

Nifty is yet again under consolidation mode. Nifty spot if manages to trade and sustain above 19800 level then expect some upmove in the market and if it breaks and trade below 19750-19740 levels then some decline can be seen in the Nifty.

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Topic :- Time:11.55 AM

TATA TECHNOLOGIES  IPO:

Issue Opens on: 22 NOV 2023

Issue Closes on: 24 NOV 2023

Issue Price: Rs.475 RS.500

Market Lot: 30Shares

Amount: 15000

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Topic :- Time:12.00 PM

Just In:

Indian Renewable Energy Development Agency IPO now open.

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Topic :- Time:11.30 AM

COPPER Trading View:

COPPER is trading at 717.80. If it manages to trade and sustain above 719 level then expect some upmove in it and if it breaks and trade below 716.50 level then some decline can follow in it.

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Topic :- Time:11.00 AM

News Wrap Up:

1. Sensex up 250 pts; Titagarh zooms 11%; IRFC, IRCTC 2%

2. India Inc net profit share in GDP now just shy of 5% after robust Q2

3. Prataap Snacks zooms 30% in two days as GDN Investments buys 1% stake

4. Liquidation share in insolvency cases on the decline, shows IBBI data

5. RBI tightening on unsecured loans: White goods firms fear margin squeeze

6. Jio Financial Services gains 1% on report of bond issue of up to Rs 10k crore

7. Bullish market helps NSE record sustained rise in active users to 3.39 cr in Oct

8. Titagarh Rail scales 52-week high on strategic tie-up with ABB India

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Topic :- Time:10.30 AM

After positive opening nifty is still going good. Nifty spot if manages to trade and sustain above 19780 level then expect some further upmove in the market and if it breaks and trade below 19740 level then some decline can be seen.

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Share Market Closing Note

Benchmark indices ended lower for the second consecutive session on November 20 with Nifty around 19,700.

At close, the Sensex was down 139.58 points or 0.21 percent at 65,655.15, and the Nifty was down 37.80 points or 0.19 percent at 19,694. About 1784 shares advanced, 1864 shares declined, and 146 shares unchanged.

Top losers on the Nifty included Adani Enterprises, M&M, Bajaj Finance, SBI Life Insurance and UltraTech Cement, while gainers were Divis Labs, Bharti Airtel, HCL Technologies, Wipro and ONGC.

On the sectoral front, Information Technology index up 0.6 percent and healthcare index up 0.3 percent, while selling is seen in the metal, auto, capital goods, FMCG, realty names.

BSE midcap index ended flat, while smallcap index rose 0.4 percent.

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Topic :- Time:3.00 PM

Nifty spot if manages to trade and close above 19780 level then expect some upmove in coming sessions and if it closes below above mentioned level then some sluggish movement can further be seen in the market.

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Topic :- Time:2.45 PM

Just In:

Jio Financial Services in talks for maiden bond issue

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Topic :- Time:2.30 PM

CRUDEOIL Trading View:

CRUDEOIL is trading at 6383. If it holds above 6365 level then expect it to test 6440-6460 levels quite soon however once it breaks and trade below 6365 level then some decline can be seen in it.

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Topic :- Time:2.00 PM

Nifty is turning volatile now. Nifty spot if manages to trade and sustain above 19720 level then expect some upmove in the market and if it breaks and trade below 19680 level then some decline can be seen following in the Nifty.

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Topic :- Time:1.45 PM

Just In:

BSE MidCap and SmallCap hit fresh record highs, gain up to 38% in CY23 so far

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Topic :- Time:1.30 PM

SILVER Trading View:

SILVER is trading at 72847. If it holds above 72500 level then expect some good upmove in it and if it breaks and trade below 72500 level then some decline can be seen in it. Watch out for 72500 in Silver.

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Topic :- Time:1.00 PM

Nifty spot is trading at 19685. If it manages to trade and sustain above 19700 level then expect some upmove in the market and if it breaks and trade below 19660 level then some decline can be seen in the Nifty.

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Topic :- Time:12.50 PM

Just In:

Argentina will not join BRICS, said Diana Mondino, a candidate for the post of head of the countrys Foreign Ministry, after the presidential elections.

We donot understand what the benefit is for Argentina at the moment. If it later turns out that there is a benefit, we will analyze it, she said.

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Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 714.10. If it manages to trade and sustain above 714.80 level then expect some quick upmove in it and if it breaks and trade below 712.60 level then some decline can be seen in it.

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Topic :- Time:12.00 PM

Nifty is trading in a range now and is getting ready for good moves. Nifty spot if manages to trade and sustain above 19700 level then expect some upmove in the market and if it breaks and trade below 19640 level then some decline can be seen in the market.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Nifty below 19,700, Sensex down 200 pts; M&M, Bajaj twins top losers

2. NSE logs 7.67 million share trades in Oct, domestic investors pick up the bulk

3. RBIs risk weight norm will not affect our business: ESAF SFB MD and CEO

4. Nykaa shares extend rally with 5% gains to scale 11-month high

5. Cipla faces US FDA warning over manufacturing practices at Indore plant

6. Union Bank of India appoints Avinash Vasant Prabhu as CFO on a 3-year term

7. Bharti Airtel trades lower, receives DoT penalty for subscriber verification norms violation

8. Altman will not return to OpenAI, ex-Twitch boss Shear to be interim CEO

9. Laptop, tablet imports surge 42% to $715 million amid licensing fears

10. Penal amount hike on the cards as RBI likely to revamp framework

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Topic :- Time:11.25 AM

Just In:

Bonus Shares Alert: Newgen Software board to meet on November 27 to mull issue

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Topic :- Time:11.00 AM

After flat opening nifty is now trading in negative zone. Nifty spot if manages to trade and sustain above 19700 level then expect some upmove in the market and if it breaks and trade below 19640 level then some decline can follow in the market.

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Topic :- Nifty Opening Note

Indian Stock Market Trading View For 20 Nov,2023: 

Big TATA TECH IPO to open. Its a must apply IPO.

Nifty is likely to turn volatile as the day progresses. Global cues to act as trend deciding factor. Nifty spot if manages to trade and sustain above 19780 level then expect some upmove in the market and if it breaks and trade below 19680 level then some decline can be seen in the Nifty. Please note this is just opening view and should not be considered as the view for the whole day.

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The United Arab Emirates is considering investing as much as $50 billion in India, its second-largest trading partner, as part of a broader bet on the world’s fastest-growing major economy.

Provisional pledges from the UAE could be announced early next year, people familiar with the matter said, asking not to be named as the information is not public.

Any new investments would follow Narendra Modi’s meetings with UAE President Sheikh Mohammed bin Zayed in July.

The countries have been seeking to bolster ties over the past decade, and aim to increase non-oil bilateral trade to $100 billion. Modi’s recent visit to Abu Dhabi marked his fifth trip to the Gulf nation since he took over as prime minister in 2014.

The last Indian premier to visit the UAE before him was Indira Gandhi in 1981.

Deals being discussed include stakes in key Indian infrastructure projects and state-owned assets, with announcements likely before Modi seeks a third term in federal elections due next year, the people said. Some of the investments could involve sovereign wealth funds such as the Abu Dhabi Investment Authority, Mubadala Investment Co. and ADQ, they said.

The pledges are unlikely to have clear timelines for a large chunk of the investments, the people said. No final decisions have been made on the size or timing of the announcements.

As part of the push, entities overseen by Sheikh Tahnoon bin Zayed Al Nahyan have held early-stage talks on investing billions of dollars in India, one of the people said. Sheikh Tahnoon is the UAE president’s brother and chairman of International Holding Co., which disclosed a 5% stake in Gautam Adani’s flagship conglomerate last month. That came days after IHC sold down holdings in two Adani firms, though the firm reiterated its commitment to India at the time.

Representatives for India’s finance and trade ministries, the UAE government, and Sheikh Tahnoon’s private investment firm Royal Group didn’t respond to requests for comment. ADIA, ADQ and Mubadala declined to comment.

Growth Engine
Royal Group has long prized India, and executives there have called the country a potential growth engine of the next decade, Bloomberg has reported. Sheikh Tahnoon is also chairman of ADQ as well as ADIA — one of the world’s largest wealth funds, with close to $1 trillion in assets.

Lured by a rising middle class and seeking to diversify away from traditional investment destinations like Europe, Gulf state-backed investors have boosted ties with India. Others including the Qatar Investment Authority and Saudi Arabia’s Public Investment Fund have also emerged as prominent investors in the country.

The UAE’s plan is a further indicator of the government’s push to position itself as a country that avoids taking sides in a world increasingly split between Washington and Beijing.

As one of few countries to manage close to $1.5 trillion in sovereign wealth, the UAE is a vital ally to the world’s most populous nation, which is seeking to bridge infrastructure gaps. For India, any large foreign investments would help Prime Minister Modi highlight his efforts to bolster the economy ahead of the 2024 vote.

Earlier this year, the UAE announced plans to support Turkey’s embattled economy with a $51 billion investment pledge, including about $30 billion in energy. Talks over one deal in that sector — just one part of the broader bilateral push — have collapsed, Bloomberg News has reported.

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Ministry of Electronics and Information Technology has recommended that Reserve Bank of India design a detailed Know Your Digital Finance App (KYDFA) process that companies have to undertake before they access the Indian banking system

In a bid to tackle the growing menace of illegal instant loan apps, the Ministry of Electronics and Information Technology (MeitY) has urged the Reserve Bank of India (RBI) to design for banks a more detailed KYC process that companies will have to furnish. It will help trace errant loan apps, the ministry believes.

On October 13, the MeitY conveyed this to Department of Financial Services (DFS) and RBI in a meeting held in this regard.

"We have recommended the RBI, within their regulatory framework, to design a detailed KYC for companies, which we refer to as Know Your Digital Finance App (KYDFA), in the same manner that customers have to undergo detailed KYC for opening a bank account," Minister for State for Electronics and Information Technology Rajeev Chandrasekhar told Moneycontrol. He chaired the meeting with the RBI and DFS.

"This will ensure that only legitimate and scrutinised financial apps can access and use the Indian banking system and further, if there is any violation of law, the KYDFA process will help in establishing traceability and origin of the app for action under law," he said.

This comes at a time when several people have fallen into the trap of predatory loan apps, often driving the victims to suicide. The pull point of these apps is that they offer money instantly as loan, as opposed to more traditional methods such as through banks.

However, what these loan apps offer in terms of speed and accessibility to money, they also compromise when it comes to security and privacy of individuals. It has been well documented that these apps, when installed get access to huge amounts of smartphone data, including one's entire contact list.

There have been cases when recovery agents of such loan apps, when the borrower fails to return the money within the stipulated time, has harassed the victim by reaching out to their relatives.

In some cases, recovery agents of such apps even threaten to circulate digitally altered, poronographic images of the victims among his or her relatives.

Such incidents have often driven victims to suicide. Apart from that, police have found that several such illegal lending apps have connections to Chinese nationals, raising concerns of national security .

Both the government and app stores, where such lending apps are hosted, have taken cognisance of issues associated with such apps, and over the few years, have taken steps to address them.

The government has been sending several advisories to Google and Apple app stores to take action against such apps as they contravene several sections of the Indian Penal Code and the Information Technology Act.

Google and Apple's app stores have been identifying and removing such apps regularly. Earlier this year, Google said that it has removed more than 3,500 personal loan apps in 2022 for violating its Play Policy requirements.

The finance ministry had last year proposed that the RBI will prepare a whitelist of such applications and that the government will only allow those applications to be hosted on app stores.

However,  these measures have fallen short as complaints against such lending loan apps have increased over time. The number of complaints against such apps have more than doubled to 1,062 in FY 23, the finance ministry informed the Lok Sabha recently.

The MeitY's latest recommendation to the RBI marks a new method through which the government aims to tackle the ever-growing menace of instant loan apps.

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Bajaj Finance Q2 Results LIVE Updates: The leading non-banking finance company (NBFC), announced its financial results for second quarter of FY24 today, 17 October, 2023. Bajaj Finance's net profit rose 27.8 per cent to ₹3,550 crore, compared to ₹2,781 crore in the corresponding period last year.

Analysts had expected the NBFC to report stable asset quality and strong loan growth. The company's net interest income (NII) also increased by 26.4 per cent to ₹8,841 crore, compared to ₹6,997 crore in the year-ago period.

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Israel-Hamas War LIVE Updates: Hamas fighters on Saturday fired more than 5,000 rockets from the Gaza Strip toward Israel, killing at least 1,100 people and wounding several others, setting off air raid sirens across the country and raising the likelihood of a new round of heavy fighting. Israel has declared a complete seizure of Gaza imposing a complete blockade on the strip, as Palestinians brace for 'living another Nakba’. Now, a senior official informed that the Hamas group is ready for discussions over truce talks with Israel. 

Israeli military says ‘Hamas has nowhere to hide’

The Israeli military continued their intensive airstrikes on the Gaza strip. On Tuesday the military said that Hamas operatives had “nowhere to hide" in Gaza and that its air force was carrying out intensive airstrikes in waves every four hours.

“We will reach them everywhere," Reuters reports chief military spokesperson Rear Admiral Daniel Hagari said in a briefing.

Gaza's death toll goes past 770 owing to Israel airstrikes

Relentless airstrikes ordered by PM Benjamin Netanyahu's government on Gaza strip in retaliation to the deadly Hamas attack on Israel, has killed over 770 people, taking the total death toll on both sides of the fence to over 2000. 

At least 770 Palestinians have been killed and 4,000 wounded in Israeli air strikes, Gaza’s Health Ministry has said.

Among the dead are 140 children and 120 women, a ministry spokesperson said.

At least another 18 people were killed and 100 injured in the occupied West Bank since Saturday, the ministry added.

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Topic :- Share Market Closing Note

Nifty below 19,550, Sensex down 320 pts; capital goods, PSU Bank outshine.

The BSE midcap index ended flat, while smallcap index rose 0.6 percent.

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Topic :- Time:3.10 PM

Just In:

Delhi Earthquake Today: Massive earthquake tremors felt in Delhi-NCR

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Topic :- Time:3.00 PM

Nifty spot if manages to close above 19520 level then expect some upmove in coming sessions and if it closes below above mentioned level then some sluggish movement is further likely to be witnessed. Avoid open positions fo r tomorrow.

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Topic :- Time:2.40 PM

IPO Alert:

Valiant Laboratories IPO subscribed 11.92 times on final day

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Topic :- Time:2.30 PM

GOLD Trading View:

GOLD is trading at 56923. If it manages to trade and sustain above 56950 level then expect some upmove in it and if it breaks and trade below 56880 level then some decline can be seen in the Gold.

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Topic :- Time:2.25 PM

Just In:

World Cup 2023: PVR INOX in talks with ICC to live screen India matches, finals in theatres

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Topic :- Time:2.00 PM

Nifty spot is at 19541. If it manages to trade and sustain above 19560 level then expect some further upmove in the market and if it breaks and trade below 19520 level then some decline can be seen in the Nifty.

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Topic :- Time:1.45 PM

Just In:

Anil Agarwal Exclusive: Vedanta chairman aims to complete sale of steel asset by March 2024

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Topic :- Time:1.30 PM

CRUDEOIL Trading View:

CRUDEOIL is trading at 7368.If it holds above 7330 level then expect it to test 7400-7420 levels quite soon. Buy on every dip till it holds above 7330 is recommended in it.

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Topic :- Time:1.00 PM

Nifty spot if manages to trade and sustain above 19560 level then expect some upmove in the market and if it breaks and trade below 19520 level then some decline can be seen. Currently Nifty spot is trading at 19541.

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Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 702. If it manages to trade and sustain above 705 level then expect it to rise and if it breaks and trade below 700 level then it will head towards 695-693 levels quite soon.

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Topic :- Time:12.05 PM

Just In:

Vedanta shares surge after initial volatility on demerger plans, up over 10% in two sessions

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Topic :- Time:12.00 PM

Nifty spot if manages to trade and sustain above 19520 level then expect some upmove in the market and if it breaks and trade below 19480 level then some decline can be seen in the Nifty.

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Topic :- Time:11.50 AM

Just In:

Bandhan Bank reopens online and debit card services after 3 days but customers complain of disruptions

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex falls 400 points, Nifty below 19,550

2. Vedanta shares jump after demerger plan.

3. India asks Canada to withdraw dozens of diplomats

4. Indias factory activity grows at slowest pace in 5 mths

5. Jio adds another ₹16,640 crore ammo for 5G boost

6. JSW Infrastructure shares debut at 20% premium

7. PNB Housing stock price up 109.3% in last one year

8. Adani Ports shares rise 1% after 1HFY24 cargo hits lifetime high of 202.6 MMT

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Topic :- Nifty Opening Note

Indian Stock Market Opening View For 03 Oct,2023:

Nifty is likely to remain volatile and is expected to follow global cues. Nifty spot if manages to trade and sustain above 19680 level then expect some upmove in the market and if it breaks and trade below 19580 level then some decline can be seen in the Nifty. Please note this is just opening view and should not be considered as the view for the whole day.

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The initial public offering (IPO) by JSW Infrastructure, part of the JSW Group, has been subscribed 36.96 times on the final day of bidding.

Retail investors, who have 10 percent reservation in the public issue, have bought 9.91 times the allotted quota, while the portion set aside for high networth individuals, which is 15 percent of the total offer, was subscribed 15.94 times.

Qualified institutional buyers (QIB), who are generally considered medium-to-long term investors, have bid 56.49 times their reserved portion which is 75 percent of the issue size.

The quota for QIB was reduced after anchor investors bought Rs 1,260 crore worth of shares, which is 60 percent of the total QIB book, on September 22. HSBC, Morgan Stanley, ICICI Prudential Mutual Fund, Government of Singapore, LIC Mutual Fund, SBI Mutual Fund, Fullerton, The Master Trust Bank of Japan, Monetary Authority of Singapore, Goldman Sachs, Sunil Singhania-owned Abakkus, and HDFC Mutual Fund were amongst the marquee names who participated in the anchor book.

The port-related infrastructure company intends to raise Rs 2,800 crore through its public issue, which so far has subscribed 2.13 times in the first two days of bidding, i.e. September 25 and 26.

The price band for the offer is Rs 113-119 per share.

The maiden public issue comprises only a fresh issue component. Hence, the entire fresh issue proceeds, excluding IPO expenses, will go to the maritime-related services company.

India's second largest commercial port operator will reduce its debt burden by Rs 880 crore through the fresh issue funds. At the end of June 2023, it had total outstanding borrowings at Rs 4,228.4 crore on a consolidated basis.

Further, Rs 1,029.04 crore will go towards expansion or upgradation works at Jaigarh Port, owned by subsidiary JSW Jaigarh Port, and the Rs 151.05 crore will be utilised for the Mangalore Container Terminal owned by subsidiary JSW Mangalore Container Terminal.

And the remaining amount will be used by the firm for general corporate purposes going ahead.

JSW Infrastructure, the fastest-growing port-related infrastructure company with diversified operations in terms of cargo profile, geography, and assets, has recorded a 62.3-percent CAGR growth in net profit during FY21-FY23, and 41-percent CAGR growth in revenue from operations during the same period.

The company benefits from a strong corporate lineage of the JSW Group having strategically located assets in close proximity to JSW Group customers and industrial clusters supported by multi-modal evacuation infrastructure, Sharekhan said.

The market capitalisation post issue, at the upper price band, will be Rs 24,990 crore, while peer Adani Ports and Special Economic Zone has a market cap of Rs 1,77,243 crore on September 26's closing.

JSW Infrastructure has expanded its operations from one Port Concession at Mormugao, Goa in 2002, to nine Port Concessions as of June 2023 across India, making them a diversified maritime ports company. Its installed cargo handling capacity in India grew at a CAGR of 15.27 percent from 119.23 MTPA in March 2021 to 158.43 MTPA in March 2023.

JSW Infrastructure IPO Grey Market Premium

The company will finalise the basis of allotment of IPO shares by October 3, and equity shares will be credited to demat accounts of eligible investors by October 5.

The trading in its equity shares will commence with effect from October 6, which is the old T+6 timeline, as per the IPO schedule.

This will be the first listing from the JSW Group since 2010, when it had listed its energy business separately.

Henceforth, whether the company is going to adopt voluntarily the new T+3 timeline for listing or not will be closely watched by participants. Companies launching IPOs since September 1, 2023 can voluntarily list shares in the T+3 timeline, while it will be mandatory for all companies launching IPOs with effect from December 1, 2023.

JSW Infrastructure shares were available at around a 15-percent premium over the upper price band, in the grey market, an unofficial platform for trading in IPO shares till the listing, analysts said on anonymity.