Weekend Wrap: From Linde India to Bajaj Auto, top market movers and news of week

Top News

1. As of the week ending September 2024, India’s foreign exchange reserves have climbed to an impressive USD 689.24 billion. This increase reflects the country's financial position and its ability to manage external economic factors effectively and also a solid financial foundation and growing economic confidence. The rise in reserves adds to India's capacity to safeguard against currency volatility and other external shocks.
2. Gala Precision Engineering’s shares made a strong debut, listing at a 42% premium over their issue price of ₹529 per share. This suggests that investors were very excited about the company, possibly due to its solid business outlook or strong performance.
3. Shree Tirupati Balajee Agro Trading Company’s shares also saw a good start, listing at a 12% premium over the issue price of ₹83 per share. While this premium isn’t as high as Gala Precision's, it still shows that investors are optimistic about the company's potential in the agro trading sector.
4. In terms of oversubscription, Bajaj Housing Finance’s IPO was a standout, with shares being oversubscribed by an astonishing 67.43 times. This indicates a huge level of investor enthusiasm and confidence in the company’s future. Tolins Tyres followed with an impressive 25.03 times oversubscription, showing strong interest in the automotive sector. Kross, oversubscribed 17.66 times, and P N Gadgil Jewellers saw an impressive 59.41 times oversubscription, underscoring strong demand and investor enthusiasm in the jewellery sector. This high level of oversubscription suggests that investors see great potential in the company’s growth and success.. These figures demonstrate a vibrant market with investors eager to support and invest in promising new opportunities.
5. Overall, these IPOs reveal a lively market with varying degrees of investor excitement, reflecting different levels of confidence and interest across sectors. Whether it’s engineering, agro trading, automotive, or jewellery, these companies are catching the eye of investors looking for promising new opportunities.
6. Axis Asset Management Company (AMC) has launched a new fund called the Axis Crisil Ibx Aaa Nbfc Index Jun 2027 Growth. The NFO, or new fund offer, is available for a limited time and will close on September 23. This gives investors a chance to get in early and potentially benefit from the growth in the NBFC sector.

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