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Waaree Energies has set a price band of Rs 1,427-1,503 for its initial public offering (IPO), opening for public subscription on October 21 and closing on October 23. Bids can be placed for a minimum of 9 shares per lot. The IPO will include fresh equity shares worth Rs 3,600 crore and an offer for sale (OFS) of up to 48 lakh shares by selling shareholders.

The stock traded at a P/E multiple of 79.4, while the price-to-book value ratio stood at 11.55.

The 40-acre prime Worli land parcel has the potential to generate cumulative pre-sales of Rs 40,000 crore with EBITDA margins of over 40% over its lifetime, even on a conservative basis.

Bitcoin surged over 3% to $67,200, driven by investor optimism and political developments, including potential crypto-friendly regulations and strong ETF inflows, signaling a bullish outlook for the cryptocurrency

As of 30-Jun-2024, promoters held 39.98 per cent stake in the company, while FIIs held 28.25 per cent and domestic institutional investors had 7.79 per cent.

The Relative Strength Index of the stock stood at 33.21 on Wednesday.

Jay Kotak shares insights into his strategic approach in the finance industry and his decision to return to India. He highlights his role in Kotak811 and his vision for Kotak Mahindra Bank. He discusses his experiences, the challenges in the Indian bank sector, and the importance of financial literacy and product design.

Dipan Mehta recommends cautious stock investments due to high PE multiples and slow growth in key sectors. He believes the next three-four months will be critical. Stocks like HCL Tech and Infosys are near all-time highs, suggesting a potential market correction. Long-term investments and maintaining strategic cash reserves are advised.

The Relative Strength Index of the stock stood at 55.07 on Wednesday.