Divine Power Energy's share price debuted at ₹155 on NSE SME, a 287.5% premium over the IPO price of ₹40. The company's IPO was subscribed 393.67 times, with a value of ₹22.76 crore, and comprised a fresh issuance of 5,690,000 equity shares at a face value of ₹10. The proceeds will be used for working capital and general corporate purposes.
Open FlipTata Steel's share price was volatile on Tuesday after its UK subsidiary averted potential strike action by the Unite Union, preventing operational disruptions. The company will resume discussions with the UK Steel Committee on future investments, rather than renegotiating the existing plan. Tata Steel's share price was down 0.086% to ₹173.92, with the wind-down process for Blast Furnace.
Open FlipAdani Group stocks traded mixed on Tuesday after India's regulator, SEBI, issued a show-cause notice to Hindenburg Research, a US-based short-seller. Hindenburg reported earning $4.1 million from Adani shorts and $31,000 from its short position in Adani's US bonds. The regulator's 46-page notice details Hindenburg's relationship with an investor who took a short position in Adani.
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