Stocks to Watch: Cyient DLM, RIL, HDFC Bank, Adani Group, IOCL, SpiceJet
Cyient DLM: Cyient DLM IPO will be listed on the bourses on Monday. As per the BSE notice, effective from Monday, July 10, 2023, the equity shares of Cyient DLM Limited shall be listed and admitted to dealings on BSE and NSE in the list of 'B' group of securities. According to market observers, Cyient DLM's share price is trading at a premium of ₹140 in the grey market today.
which means the grey market is expecting that the public issue will list at around ₹405 ( ₹265 + ₹140), which is more than 50 per cent from Cyient DLM IPO price band of ₹250 to ₹265 per equity share. Reliance Industries: Mukesh Ambani's daughter Isha and former CAG Rajiv Mehrishi have been appointed as directors on the board of demerged financial services unit of Reliance Industries Ltd, the company said on 8 July. Earlier, Reliance announced its plans to demerge its financial services undertaking into Reliance Strategic Investments Limited (RSIL) and rename and list it as Jio Financial Services Limited (JFSL).
Based on proprietary data analytics, the financial arm of Reliance will lend to consumers and merchants and eventually branch out to insurance, payments, digital broking, and asset management. HDFC Bank: Private sector lender, HDFC Bank has announced its plan to participate in the initial public offering (IPO) of the National Securities Depository (NSDL). The bank will divest a 2% stake in NSDL.
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