S&P BSE Sensex stands at 48,878 points just days after breaching the historic 50,000 mark, while Nifty closed on Friday at 14,371.
Share Market News Today | Sensex, Nifty, Share Prices LIVE: After a deep correction in the last two trading sessions, Dalal Street is looking to start Monday on a strong footing. S&P BSE Sensex stands at 48,878 points just days after breaching the historic 50,000 mark, while Nifty closed on Friday at 14,371. During the early hours of trade on Monday, SGX Nifty was up 100 points, hinting at a positive start for domestic equity markets. Major Asian peers too were trading with gains. KOSPI, KOSDAQ, Hang Seng, Topix, and Nikkei 225 were all up in green while Shanghai Composite was down in red.
Continuing the recent flurry of initial public offerings, today the Rs 412 crore IPO of Stove Kraft Ltd will open for subscription. The kitchen appliance manufacturer is one of the leading brands in the segment. The issue is priced at Rs 384-385 per unit and investors can bid for a lot of 38 equity shares and in multiples thereafter. The company caters to the sub-premium category through its Pigeon and Gilma brands, while its premium offering is under the BLACK + DECKER brand. Brokerage and research firm, Angel Broking, has a ‘Neutral’ rating on the issue. “Company has priced its issue at 34.5x PE on a trailing basis, its peers TTK Prestige and Hawkins Cookers are currently trading at 61.0x and 47.5x respectively,” they said.