Latest Market News Today Live Updates June 25, 2024: Akiko Global Services IPO: Issue subscribed 50% so far on Day 1; check GMP, other key details of SME IPO

• Akiko Global Services IPO price band is set at ₹73 to ₹77 per share. At the upper-end of the price band, the company aims to raise ₹23.11 crore from the issue which is entirely a fresh issue of 30.02 lakh equity shares.

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• Akme Fintrade IPO listing date is tomorrow, with allotment finalised and share crediting today. Subscription status was 55.12 times, raising nearly ₹38 crore from anchor investors. Estimated listing price is ₹140 per share, 16.67% higher than IPO price.

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• Small-cap stock under ₹50 opened upside at ₹20.58 per share and touched an intraday high of ₹21.90 within a few hours of the opening bell

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• Winny Immigration and Education Services IPO allotment is set to be finalised today after receiving strong response from investors. Shares will be allocated on proportional basis to retail investors due to oversubscription. Refund process for non-allottees will commence on June 26, 2024.

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• Prabhudas Lilladher says pizza chains may rebound faster than burger chains due to intense competition from regional players. Pizza outlets doubled while major burger chains only increased by 50% from FY20-24.

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• Sebi has proposed that brokers and mutual funds stop associating with unregistered influencers in order to ensure these influencers do not mislead investors, a report said.

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• Multibagger stock: MosChip Technologies share price has catapulted from approximately ₹136 to ₹295 per share in one month

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• In the current year so far, Kirloskar Oil Engines has climbed from around ₹662 apiece to the current position of ₹1,402, producing a staggering return of 114%.

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• The secret to making money in an overvalued market.

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• Hindustan Construction Company (HCC) has shown remarkable growth, with its stock price soaring over 1113% since June 2020. The company’s strong performance and market confidence have made it a standout performer in the stock market.

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• Divine Power Energy Ltd’s IPO, with a lot size of 3,000 shares, is open for subscription until June 27 at a price band of ₹36 to ₹40 per share. The company manufactures winding wires/strips for transformers and power distribution companies.

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• Stocks to buy: Emkay Global’s top smallcap and midcap stock picks are Jubilant FoodWorks, Honasa Consumer, Suprajit Engineering, Senco Gold and Metropolis Healthcare.

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• The company’s expertise in healthcare, education, and infrastructure projects, which together constitute approximately 55% of the company’s revenue, is expected to drive long-term growth as the company leverages its focused business model and enhanced government project execution capabilities.

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• Stocks to buy: Nifty 50 has gained over 8 per cent this year, with experts predicting a rise to 25,000 by year-end. Investors are advised to choose stocks with strong fundamentals. Recommendations include LIC Housing, ICICI Lombard, Somany Ceramics, RailTel and MRPL.

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• Allied Blenders and Distillers, known for brands like Officer’s Choice and Sterling Reserve, launches IPO with price band of ₹267 to ₹281. The company aims to raise ₹1,000 crore through fresh equity shares. It also plans to utilise funds for debt repayment and general corporate purposes.

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• Aamar Deo Singh, Sr. Vice President, Research, Angel One, believes a reduction in capital gains taxes of any kind will be a very welcome step, given that overall taxation rates are higher in India, as compared to many other countries.

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• Markets- Budget:: Jefferies expects budget to be positive for affordable housing, capex plays, consumer, rate-sensitives as government though may lack triggers for Information Technology and Pharma. Here are 21 key beneficiaries in these segments.

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• Following shares hit their 52 week low today – Ascom Leasing & Investments, Future Supply Chain Solutions, FILATEX FASHIONS, Suumaya Industries

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• Following shares hit their 52 week high today – Axis Bank, Samvardhana Motherson International, ICICI Bank, Grasim Industries, Trent

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• Hyundai India IPO valuations: Hyundai India is offloading around 13 per cent of its stake in the upcoming IPO, say experts

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• Dindigul Farm IPO allotment status can be checked online through the BSE website or the official portal of IPO registrar. Link Intime India Private Ltd is the Dindigul Farm Product IPO registrar.

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• Gold And Silver Prices Today:Gold And Silver Prices Today : 10 gm of 24 carat gold was at Rs.72689.0 in Delhi whereas 1 kg of silver was Rs.88850.0 in Delhi.

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• Amara Raja’s shares surged 20% to a new high of ₹1,656 after signing a technical licensing agreement with GIB EnergyX for LFP technology. The agreement aims to enhance manufacturing capabilities and strengthen R&D in lithium battery technology.

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• Stocks in focus: Ruchit Jain of 5paisa has recommended two stocks today – Affle (India) Ltd, and Mangalore Refinery and Petrochemicals Ltd (MRPL).

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• Zomato share price has rallied over 10% in the last one month, while the stock has jumped more than 63% year-to-date (YTD). Zomato shares have delivered multibagger returns of over 172% in one year.

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• Happiest Minds Technologies shares plunged 9.5% in morning deals after a block deal worth ₹1,076 crore. Reports suggested the company’s promoter might sell a 6% stake. Despite recent declines, the stock has shown volatility with gains in June and April.

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• Stanley Lifestyles IPO: Stanley Lifestyles Ltd, known for bespoke furniture, has small revenue of ₹400 crore. Market sees opportunity in its premium products, despite revenue challenges. Investors advised to apply for IPO for potential returns.

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• Allied Blenders and Distillers IPO GMP: Shares of the company are available at a premium of ₹76 in the grey market today, say market observers

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• DEE Development IPO: DEE Development Engineers IPO allotment process completed on June 24. The IPO received a positive response from investors with high subscription rates. The IPO listing date is set for June 26.

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• Stocks to buy today: Experts have recommended buying these five buy-or-sell stocks — Gujarat Gas, Punjab National Bank, Hindustan Copper, Titagarh Rail, and Sundram Fasteners

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• The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading around 23,580 level, a premium of nearly 25 points from the Nifty futures’ previous close.

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• Indian stock market: Gift Nifty was trading around 23,570 level, a premium of nearly 15 points from the Nifty futures’ previous close, indicating a muted start for the Indian stock market indices.

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• Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Oberoi Realty, United Spirits, and FSL

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• Voltas had declared a dividend of ₹5.50 per equity share for the FY24, Tata Elxsi had declared a final dividend of ₹70.00 per equity share

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• Balrampur Chini Mills, Chambal Fertilisers, GNFC, Granules, Indus Towers, Piramal Enterprises, PNB, and SAIL are the 8 stocks on the NSE’s F&O ban list for June 25

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