By Anand James
The fortnight ahead is crucial as positions get re-aligned in anticipation of fresh cues from the budget scheduled for July 23. Though the budget has come to be a non-event of late for capital markets, there is always a question of “what if” on the lips of many, as speculations never cease to leave the traders unaffected, be in terms of broad market announcements, or sector-specific cues. This is probably the reason why the rise in benchmark indices has been muted, but with all dips quickly bought, disappointing bears as well. VIX continued to decline from last month’s peaks, but we could potentially see a rise in the same in the next fortnight.
Nifty50
Early last week, the conditions were ripe for a swing lower, not only due to persistent overbought conditions but more because of how far Nifty stayed above the 20-day SMA. However, after being 3% away, which is extreme, a pause ensued in the uptrend, allow…
Tata Technologies, a subsidiary of Tata Motors (TML), marked a significant milestone on Thursday, November 30, as it debuted on the market at a remarkable 140% premium to its issue price of Rs 500. The stock opened at Rs 1,200 on the NSE and ₹1,199.95 on the BSE, and made an intraday high of Rs 1400, almost 180% up.
The shares of Tata Technologies listed with a market capitalization of Rs 56,000 crores, more than Tata Elxi, which is valued at Rs 52,000 crores.
Industry analysts attribute Tata Tech’s exceptional debut to its robust subscription numbers, solid financial performance, strong parentage within the Tata Group, and optimistic growth prospects in the engineering services sector.
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