Stock Market LIVE Updates: GIFT Nifty indicates a gap-up start; US, Asian markets gain

Stanley Lifestyles, the leading Indian luxury furniture brand, made a notable debut on the stock exchanges, listing at Rs. 494.95 per share. This translates to a significant 34.13% gain over its issue price of Rs. 369.

While this performance is undoubtedly positive, it falls short of pre-listing expectations that likely anticipated an even higher premium due to the overwhelming investor response.

The strong listing signifies investor confidence in Stanley Lifestyles’ established brand, diverse product portfolio, and consistent financial performance. However, the high IPO valuation and identified risks, such as dependence on sofa and recliner sales and geographical concentration, warrant careful consideration.

Existing investors may hold their shares with a suggested stop loss of 450.

The bank has received approval from the Board of Directors for raising funds up to Rs 5,000 crore via the issue of equity shares through private placement or qualified institutions placement (QIP) or preferential allotment or other modes. The board also approved raising funds up to Rs 6,000 crore, in one or more tranches, via the issue of debt instruments.

The Krishna Institute of Medical Sciences board approved the proposal for the sub-division of 1 equity share of the company having a face value of Rs10each into 5 equity shares having a face value of Rs2each, subject to regulatory/statutory approvals as may be required and the approval of the shareholders of the companyat the ensuing 22nd Annual General Meeting.

Reliance Jio Infocomm announced a series of new unlimited plans set to take effect on July 3. The new tariff plans range from Rs 189 for 2 GB per month to Rs 3,599 for a 2.5 GB per day annual plan. These plans include unlimited 5G data for all plans with 2GB/day and above.

The Nifty closed June at its highest levels, reaching the significant 24,000 mark. Technically, it is likely to remain strong as long as it stays above 23,900. Notably, the 24,000 Call strike has significant open interest (OI) of approximately 88 lakh shares. On the Put side, the 24,000 strike holds substantial OI of around 40 lakh shares.

The Bank Nifty index experienced volatility, trading within a broad range, with support at 52,700 and resistance at 53,100. In Bank Nifty, the 53,000 Call strike holds the highest OI of about 30 lakh shares. On the Put side, the highest OI is at the 53,000 strike, with approximately 21 lakh shares.

The Court of Justice of the EU has upheld the fine of 13.96 million euros (approximately Rs 125.62 crore) imposed by the General Court of the EU on the company’s subsidiary Unichem Laboratories with respect to a patent dispute settlement.

It had entered into a patent dispute agreement for the Perindopril drug matter with the innovator French company Servier group. The company and Unichem have already made a provision of Rs 125.62 crore in its book of accounts in respect of this litigation.

Stanley Lifestyles debuted at a 34 percent premium on the NSE, listing at Rs 494.95 compared to the issue price of Rs 369.

Stanley Lifestyles IPO, a book-built issue, aims to raise Rs 537.02 crores. The offering includes a fresh issue of 0.54 crore shares, totalling Rs 200 crores, and an offer for sale of 0.91 crore shares, amounting to Rs 337.02 crores.

The bidding for Stanley Lifestyles IPO commenced on June 21 and concluded on June 25. The allotment was finalised on June 26.

Medicamen Organics had a stellar debut on June 28, listing at Rs 137.85 on the NSE SME, marking an impressive premium of over 305 percent above the issue price of Rs 34.

Medicamen Organics recently launched its initial public offering (IPO) with a book-built issue of Rs 10.54 crores, consisting entirely of a fresh issue of 31 lakh shares. The IPO bidding period commenced on June 21 and concluded on June 25. The allotment was finalised on June 26.

The price band for Medicamen Organics IPO was set between Rs 32 – Rs 34 per share. Investors were required to apply for a minimum lot size of 4000 shares, making the minimum investment for retail investors Rs 136,000. For high-net-worth individuals (HNIs), the minimum investment was set at 2 lots, totalling 8,000 shares and amounting to Rs 2.72 lakh.

The bank has received approval from board members for raising funds up to Rs 3,500 crore via qualified institutions placement, in one or more tranches, and Rs 3,000 crore via the issue of debt securities, in one or more tranches, on a private placement basis.

The Sensex was up 311.04 points or 0.39 percent at 79,554.22, and the Nifty was up 88.70 points or 0.37 percent at 24,133.20. About 2122 shares advanced, 956 shares declined, and 91 shares unchanged.

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