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MARKET WRAP
Equity benchmarks rallied sharply after Moody's upgraded India's sovereign rating, but ended off
day's highs due to correction in technology stocks.
The 30-share BSE Sensex was up 235.98 points or 0.71 percent at 33,342.80 and the 50-share
NSE Nifty gained 68.80 points or 0.67 percent at 10,283.60.
About 1,590 shares advanced against 1,149 declining shares on the BSE.
HDFC Standard Life Insurance extends rally, jumps 27% after good
debut
HDFC Standard Life Insurance Company shares extended rally on Friday, rising as much as 27
percent over issue price of Rs 290 per share, driven by positive market conditions and good
subscription.
The stock touched an intraday high of Rs 369 and intraday low of Rs 307 after listing at Rs 313 on
the National Stock Exchange.
At 11:59 hours IST, it was trading at Rs 342.60, up 10.52 percent over pre-opening price of Rs
310 and up 18.13 percent over issue price.
Heads up! HDFC Standard Life to list on bourses with a premium: Experts
This is the third life insurance company getting listed on exchanges, after ICICI Prudential Life and
SBI Life.
The public issue of the subsidiary of housing finance major HDFC was oversubscribed 4.90 times
during November 7-9, 2017. The price band for the issue was Rs 275-290 per share.
At present, HDFC owns 51.69 percent stake in HDFC Standard Life and Standard Life has about
29.35 percent stake.
5Paisa Capital, a discount brokerage and financial advisory entity, made its debut on the bourses
on Thursday to become the first such listed financial digital marketplace.
On the BSE, the shares opened at 650 but immediately fell 5% to close at its lower circuit of 617.50.
At Thursdays closing price, the market capitalization of the company was pegged at 787 crore.
5Paisa Capital is a subsidiary of IIFL Holdings, and got listed after the online financial services
entity demerged from the parent entity. All existing shareholders of IIFL were allotted shares in the
demerged entity in the ratio of 25:1. The parent company had earlier infused 100 crore as fresh
capital in the demerged entity.
The company plans to revamp its financial advisory services with digital features such as robo
advisory and end-to-end algo-based solutions to help its customers in their trading and portfolio
monitoring activities.
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