Adani Wilmar was locked at the 20 per cent upper circuit for the second straight day. The market cap of the company stood at Rs 50,201 crore, as per NSE data.
Shares of Adani Wilmar hit a new high of Rs 299.65, surging nearly 13% in Wednesday's intra-day trade
Stock had slipped below issue price to touch a low of Rs 227. But strong buying saw it end near day's high. Shares worth Rs 3,397 cr changed hands on NSE and another Rs 191 crore on BSE
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The 30-pack index was lifted by Tata Steel (up 3 per cent), RIL (up 2 per cent), Bajaj twins, and Asian Paints
The company's IPO saw strong response from investors and had been subscribed 17 times. The issue had received bids for 212.88 crore shares against the offer size of 12.25 crore shares.
At 10:05 am, Adani Wilmar traded at Rs 244, a 6 per cent premium when compared to its issue price of Rs 230 per share.
Bata India, Bharti Airtel, Data Patterns, Escorts, Godrej Consumer, Greaves Cotton, Gujarat Gas, IRCTC, J&K Bank, Jindal Steel, Latent View, NMDC, SJS Enterprises and TTML to report results today.
Edible oil major Adani Wilmar on Friday finalised the issue price of its Rs 3,600 crore initial public offering (IPO) at Rs 230 per share.
Among sectors, all the key indices ended in the red, led by the Nifty IT index (down 2 per cent) and the Nifty Realty index (down 1.7 per cent). Nifty Auto index was the only gainer, up 0.4 per cent.
In the grey market, which is an unofficial platform for trading in IPO shares, Adani Wilmar shares are available at a premium of Rs 40 as of today.
The firm has set price band at Rs 218-230 per share. At the top-end, the company's market cap works out to nearly Rs 30,000 crore
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Large part of today's rally in the headline indices was led by IT stocks such Tech M, Wipro, Infosys and HCL Tech; financials such as Bajaj twins and SBI, and index heavyweights RIL
Analysts believe Adani Wilmar's strong parentage links with the Adani Group may give it a necessary fillip on the listing day
Small part of proceeds will also go towards expanding its edible oil capacity in eastern India, where its capacity utilisation is high and the market is growing at a fast pace
Bharti Airtel rises 6% on Google's $1-bn investment plan, erases gains later; PSE stocks surge ahead of Budget; CPSE index gains 1%; Adani Wilmar IPO subscribed 1.08 times on day 2
For the week, the Sensex and the Nifty indices are down 3% each
Institutional portion subscribed 30%, HNI 54% and retail quota 96%
Sectorally, the Nifty PSU Bank index jumped a massive 5 per cent on the NSE, while the Nifty Bank and Private Bank indices added about a per cent each