Global markets are suggesting Mixed signals, so our Indian markets are likely to start with a “Flat-Negative” opening today.
The GIFT Nifty indicates a negative start for Indian markets, with Nifty futures trading lower at 23,838.
• Despite a positive close on January 1, where Nifty rose by 0.41%, the outlook for January 2 appears cautious amid mixed global cues.
Tata Motors reported a 1% year-on-year growth in December 2024 sales, totaling 76,599 units, but shares have declined by 36% from their 52-week peak.
Anya Polytech & Fertilizers is set to debut its shares on the NSE SME platform, with a strong IPO subscription rate of 439.8 times, indicating robust investor interest.
• The grey market premium suggests a potential listing price of Rs 20 per share, reflecting a 43% premium over the IPO price of Rs 14.
The Reserve Bank of India (RBI) reported that Rs 6,691 crore worth of Rs 2000 banknotes remain with the public, following the withdrawal announcement made on May 19, 2023.
• The Nifty 50 and Bank Nifty started 2025 positively, with the Nifty 50 closing at 23,743 and Bank Nifty at 51,061, indicating bullish sentiment in the market.
Garware Technical Fibres is set to issue a 4:1 bonus share, with January 3, 2025, as the record date for eligible shareholders.
• Today is the last day to purchase shares to qualify for this bonus issue, marking the company’s first-ever bonus share offering.
Indo Farm Equipment’s IPO has garnered significant investor interest, with an overall subscription rate of 54.55 times, driven primarily by retail and non-institutional investors.
