Street signs: Auto stocks rev up, PSU shares see SLB demand, and more

Shares of public sector undertakings have been moving up the bourses

Getting the price right 

Investment bankers (i-bankers) are often criticized for overpricing an IPO as it leads to a bad-taste among investors. However, last week was one of the rare occasions when i-bankers have come under fire for underpricing the IPO of state-owned IRCTC, whose shares more than doubled during debt. “Both overpricing and underpricing are lapses on the part of the investment banker. Ideally, an IPO should be priced in such a way that it makes gains of between 10 and 25 per cent to investors. This makes both investors as well as the promoters diluting their stake happy,” says