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Ajax Engineering has filed draft papers for an IPO with Sebi. The IPO is solely an offer-for-sale of 2.28 crore equity shares by promoters and an investor. Kedaara Capital will sell 74.37 lakh shares. The company will not receive any proceeds from the IPO. Ajax Engineering is a leading concrete equipment manufacturer based in Bengaluru.

But overall, I feel that at lower level, they will find support and bounce back and resume their uptrend. So, as of now, the strategy for the day should be to concentrate on the sectors and stocks which are actually resilient in this market.

A total of 4,787 shares changed hands on the counter till 01:33PM (IST)

Investors typically look for stocks with stable performance and strong momentum. ETMarkets has identified 11 smallcap stocks that have consistently risen over 15% in each of the last four quarters.

As of 30-Jun-2024, promoters held 63.01 per cent stake in the company, while FIIs held 22.42 per cent and domestic institutional investors had 5.89 per cent.

Despite the broader market weakness, six midcap stocks from the Nifty 500 index reached new 52-week highs.

Chinese stock markets will be closed from October 1 to October 7 for the week-long China National Day celebrations. Additionally, both Hong Kong and India will observe market closures on October 1.

The stock quoted a 52-week high price of Rs 2697.45 and low of Rs 2081.25.

​On top of it, if you look at the last three-four quarters, there is a weak job hiring when it comes to IT sector and weak salary growth. And adding to that, if you look at last three-four quarters, banks and NBFCs have been cautious when it comes to retail lending.

​Mid and small size companies in order to regain the market share, so they are also in the process of creating capacity. So, because of this market share protection mindset, both from larger companies and from the mid-size companies, so we are clearly in for a supply cycle.