The stock closed 17% above its issue price at ₹455.95 in a weak market, surpassing analysts’ expectations of a tepid debut. The company’s market capitalisation at close on Wednesday was ₹1.02 lakh crore.
Nomura expects the RBI to pursue a limited tightening cycle, with a possible 50 bps rate hike by December, as food and energy pressures rise
NSE slipped below their Rs 1,785 IPO price on Monday, taking its market capitalisation to Rs 4.36 lakh crore. Despite the decline, brokerages remain positive
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