Stock Market: primary Market in pink mood

Posted by NILESH WAGHELA

Mumbai: stock market is likely to remain volatile this week amid lot of corporate action. 

Over 1000 companies would be announcing their Q3 FY24 results in the coming week, thus ending the earnings season. Among the major ones announcing results are Mahindra & Mahindra, Eicher Motors, Hindustan Aeronautics, Mazagaon Dock Shipbuilders, and Phoenix Mills.

Moreover, primary market is in pink of it's health. Four IPOs are set to hit Dalal Street with fundraising plan of Rs 237 crore, while nine companies are scheduled to debut on the bourses in the coming week beginning February 12.

The mainboard segment will have only one IPO, and five companies scheduled for debut on the bourses, while in the SME segment, there will be three IPOs opening for subscription and four corporates making their debut.

The car rentals and transportation services provider, Wise Travel India, will be the first among four companies to hit the Street next week with a public issue of 64.41 lakh equity shares on February 12. The last date for bidding will be February 14.

The transport company intends to raise Rs 94.68 crore through its initial public offering. The price band for the offer is Rs 140-147 per share.h

The Haryana-based steel pipes and tubes manufacturer Vibhor Steel Tubesi, s set to launch its maiden public issue for subscription on February 13. The Rs 72-crore IPO, which will close on February 15, comprises only a fresh issue by the company. The price band for the offer has been fixed at Rs 141-151 per share.

The automotive ancillary company, Thaai Casting will be opening its maiden public issue for subscription between February 15 and February 19. The IPO comprises only a fresh issue of 61.3 lakh equity shares.

The Chennai-based corporate, which is planning to raise Rs 47.2 crore through its offer at the upper end of the price band of Rs 73-77 per equity share.

Kalahridhaan Trendz's will be the last IPO of the week on February 15. The last date for bidding will be February 20. It is a fixed price issue of Rs 22.49 crore, with a price of Rs 45 per share.  purposes.

Meanwhile, solar panels maker Alpex Solar and Ahmedabad-based Rudra Gas Enterprise, engaged in the pipeline projects for city gas distribution, will be closing their public issues on February 12, while the last date for Polysil Irrigation Systems IPO will be February 13.

In the mainboard segment, healthcare products distribution company Entero Healthcare Solutions will be closing its Rs 1,600-crore initial public offering on February 13.