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Shares of Technofab Engineering debuted on the BSE on Friday at 272 rupees, up 13.33 percent versus its issue price of 240 rupees.
Within minutes, the scrip touched a high of Rs 297, up 12 per cent from its opening price. The stock ended 23 percent higher from its issue price at 295.65 rupees with volumes of 9.4 million shares.
The engineering firm had entered the primary market on June 29 with an issue of 29.90 lakh shares of Rs 10 each with a price band of Rs 230 to Rs 240 a share. It has raised Rs 71.76 crore through the IPO.
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Shares in drugmaker Piramal Healthcare Ltd gained after the company said it will sell its diagnostic services unit to Super Religare Laboratories Ltd (SRL) for 6 billion rupees to focus on fewer and larger businesses left in its basket.
Piramal Healthcare had risen more than 2 percent in early trade on Wednesday but pared gains to close nearly 1 percent lower.
The BSE IT Index ended 2.68 percent lower on Tuesday weighed down by Infosys Technologies’ surprise 2.6 percent drop in April-June profit.
The country’s No. 2 outsourcer said before market hours its sales contribution from Europe fell to about 20 percent from nearly 25 percent a year ago and 23 percent in January-March.
Shares in Infosys, India’s second-largest software exporter, rose as much as 1.4 percent to a 52-week high of 2,911.55 rupees, on expectations it would raise its dollar revenue forecast for the full year when it unveils results on Tuesday.
The scrip pared morning gains to close 0.8 percent higher at 2894 rupees with volumes of 0.1 million shares.
Shares in Infosys Technologies, India’s second-largest outsourcer, rose as much as nearly 2 percent to a record high of 2,882 rupees on Friday on optimism about quarterly earnings next week.
The company unveils its quarterly earnings on June 13. Its earnings are often dubbed as a trendsetter for sectoral peers.
Oil marketing firms posted decent gains on Thursday, with BPCL’s 5.6 percent rise vaulting it to the top of the gainers list in the BSE Oil & Gas Index.
Other firms like IOC, the country’s biggest oil retailer, rose 2.2 percent, while HPCL and Essar Oil ended 3.5 percent and 2.6 percent higher respectively.
It was a weak day of trade for energy counters which saw the BSE Oil & Gas Index topping the list of sectoral losers with a 1.7 percent fall.
Weighing on the sectoral index and the Sensex was Reliance Industries which fell 1.8 percent to 1052 rupees.
The BSE IT Index gained 1.7 percent on Tuesday as expectations of revenue growth for the June quarter pushed up export-focused outsourcing firms.
All stocks in the IT index, except Mphasis, closed in positive territory, with Rolta India leading the list of gainers with a jump of 4.1 percent.
The BSE Oil & Gas index ended 0.8 percent lower on Monday with all but one of its constituent stocks closing in the red.
The big mover of the day was Reliance Natural, which dropped 27.2 percent after a deal to fold into sister firm Reliance Power valued the company at a steep discount to its market capitalisation on Friday.