|BS Correspondent / March 01, 2021
Will the Nifty survive 14,000?
The market saw a lot of ups and downs during the February series. After the Budget, the Nifty index has risen by more than 9 percent and the Bank Nifty had risen by 20 percent till the end of last week. Analysts say the index may face resistance at 14,750-14,920 levels. Sameer Chavan, chief analyst, technical and derivative at Angel Broking, said, “Traders should be cautious about showing more aggression or longing and using the big declines to select good quality stocks.” Ashley Kutinho
MTAR Tech gains strength in gray market
Before the gray market movement, it was estimated that the stock would be listed at 25 per cent. The company’s IPO opens on Wednesday. The price range of this IPO is Rs 574-575 per share and the value of the company is around Rs 1,770 crore. One broker said, “GMP has come down to 35 percent after Friday’s steep decline. Given the good performance of the latest IPO, there is enthusiasm among investors. MTAR Nuclear is an engineering company catering to the space and defense sectors. Beautiful Sethuraman
RailTel is pleased with institutional investors
RailTel Corporation’s stock closed up 28 per cent over its IPO price on Friday, even as key indices gained nearly 4 per cent on that day. The gray market activity indicates that the stock will be listed with a gain of 10-15 per cent. The data shows that Goldman Sachs bought 37 lakh shares while Nippon Mutual Fund bought 7 million shares of the government-owned company. The combined purchases by these two investors accounted for 3.34 percent. RailTel had a market capitalization of Rs 3,896 crore on Friday. Same Mode