Share Market LIVE: Sensex nears 48,000, Nifty below 14,200; RIL down 2%, HUL, Sun Pharma among top drags

Financial Express - Business News, Stock Market News

Volatility index surged 3% as it moved past 24 levels.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets opened in red on Monday morning. NSE Nifty 50 gave up 14,200 on the opening bell while S&P BSE Sensex was seen slipping below 48,100. Shares of Reliance Industries continued to fall and were seen trading 2% lower once again on Wednesday morning. These were followed by Dr Reddy’s and Sun Pharma. On the other end, Ultratech Cement was the only stock gaining above 1%, followed by IT stock such as Tech Mahindra and HCL Technologies. India VIX or the volatility gauge was up 3% as it breached 24 levels. All sectoral indices were trading in the red. 

So far, 99% of Stove Kraft Ltd’s Rs 412 crore issue has been subscribed to by investors. Retail investors have bid for 5.36 times their portion while Non-Institutional Investors (NII) have 0.05 times the quota. Qualified Institutional Buyers (QIB) are yet to arrive at the scene. Stove Kraft is a leading kitchen appliance manufacturer and home solutions provider. The firm caters to different segments through its brands, such as Pigeon, Gilma, and BLACK + DECKER. Post issue, promoter holding will come down to 54.36% from the current 61.31% while public shareholding will gain from 38.69% to 45.64%.

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