Wed, Mar 22, 2023 11:40 AM
Disappointing debutants! 10 of 11 recent IPOs trade below issue price
A Flip by Gaurav
Shares of Kalpataru Power Transmission traded in the red on May 30 after a large trade took place on the bourses. The stock slumped 4 percent in early trade and, by 10am, it was quoting at Rs 505.80, down 0.25 percent. The scrip was trading with volumes of 10,698,136 shares so far today, as compared with its five-day average of 6,722 shares, which implies an increase of 1,59,056 percent.
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The government announced a complete waiver of the inter-state transmission system charges on offshore wind, green hydrogen and ammonia projects for 25 years. The waiver is applicable to projects commissioned till December 31, 2032. "This decision has been taken to facilitate wider execution of offshore wind energy initiatives, to promote the expansion of green hydrogen/green ammonia projects.
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ICICI Direct recommends selling USDINR between the range of 82.72 and 82.73. The target for this trade is 82.55, while the stop loss should be set at 82.88. Additionally, the support levels to keep in mind are 82.55 and 82.45, while the resistance levels are 82.90 and 83.05.
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