Weekend Wrap: From IndiGo to Mphasis, top market movers and news of week

Top News

• Security Exchange Board of India (SEBI) will soon introduce an industry-wide stress test for equity mutual funds.
• India’s foreign exchange reserves (Forex) increased to USD 674.66 billion for the week ending August 16, 2024.
• Indian Finance Ministry projects real GDP growth of 6.5-7% for FY25.
• Shares of Saraswati Saree Depot got listed at a premium of 21% over the issue price of ₹160, The ₹160.01-crore IPO has an offer for sale of 0.65 crore fresh shares worth ₹104 crore and an offer for sale of 0.35 crore shares worth ₹56.02 crore. Saraswati Saree Depot has set the price band of its IPO at ₹152 to ₹160 for each share.
• Interarch Building Products got oversubscribed by 93.79 times. The IPO of Interarch Building Products was offered at a price band of ₹850-900 per share. It opened for subscription on August 19, 2024, and the bidding closed on August 21, 2024. Although the IPO offered 4,653,341 shares, it received bidding for 43,87,55,568 shares.
• Orient Technologies got oversubscribed by 154.84 times. The ₹214.76-crore issue comprises a fresh issue of 58 lakh shares for ₹120 crore and an offer for sale of 46 lakh shares for ₹94.8 crore. Established in 1997, the company focuses on offering information technology (IT) solutions. The company has honed its skills in IT Infrastructure, IT Enabled Services (IteS), Cloud, and Data Management Services over time to provide products and solutions.
• Franklin AMC, Tata AMC, Bandhan AMC, Nippon AMC, ITI AMC, Baroda BNP Paribas AMC, PGIM AMC and Axis AMC has launched the NFO for Franklin India Ultra Short Duration Fund, Tata Nifty200 Alpha 30 Fund, Bandhan BSE Healthcare Fund, Nippon India Nifty 500 Equal Weight Fund, ITI Large & Mid Cap Fund, Baroda BNP Paribas Dividend Yield Fund, PGIM India Multi Cap Fund, and Axis Consumption Fund respectively.

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