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The delay in the IPO represents a blow to Manappuram Finance, which had raised its stake in Ashirwad Microfinance in June 2022, acquiring a majority stake as part of its broader diversification strategy. Asirvad Microfinance had filed a DRHP with SEBI to raise Rs 1,500 crore from the public back in October last year.

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Dipan Mehta says: “Whatever cash flows are coming through, I am just sitting on it. I am not investing afresh. Whenever a company is not living up to its potential, like something in speciality chemicals has largely underperformed, largecap tech has underperformed, but I still am positive on that sector.”

The Financial Intelligence Unit, under the Finance Ministry, had last month issued show-cause notices to nine offshore VDA service providers, including Binance, for operating in the country without complying with money laundering laws.

​City-based Shyam Metalics and Energy Limited (SMEL) announced that it has raised Rs 1,385 through Qualified Institutional Placement (QIP).

Going forward, we believe gold will continue to have an edge over other asset classes in 2024. It will be seen as a tool to facilitate the flight to safety as the risk of a slowdown in the US market will continue to support the gold prices.

Godrej Properties saw stock pricing dipping up by 2.74% and the open interest saw an increase of 1.46%. BPCL stock price declined by 2.73% and open interest saw a rise of 1.48%.

​The initial public offer (IPO) of Jyoti CNC Automation was subscribed 3.24 times so far on Wednesday, the second day of the bidding process. The issue closes tomorrow.

Ashish Gupta says: “Banks have underperformed last year and the markets really did not pay up for the fact that ROAs for the banks improved. And therefore, despite the fact that return on assets for banks has peaked out and will be moderating, the valuations are comfortable enough for us to be positive on the sector.”

The stock quoted a 52-week high price of Rs 4046.9 and low of Rs 2375.05.