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About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.

When the stock prices move up and open interest on the counter also moves upward, it is taken as a sign of a long buildup.

“Inflation is definitely under control. We have seen quite a bit of moderation in the last few quarters and even going ahead, barring some uneven food inflation numbers that may come up temporarily, overall inflation trajectory seems to be well in control. Crude has fallen from $95 to about $75 a barrel. Inflation is unlikely to become a spoilsport in the very short term.”

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Shriram Finance, which has a market cap of Rs 75,215.33 crore, has surged nearly 50% over the last 12 months as against the 23% drop seen in UPL share price during this period. In the meantime, the returns by Nifty have been 13%

The company, which operates 13 ports and terminals in the country including its largest container handling port, Mundra in the western Indian state of Gujarat, said a majority of the funds issued will be used for refinancing of existing debt.

Accent Microcell is only the second issue in the SME segment to cross the Rs 10,000 crore subscription mark this year. Earlier, Chennai-based Basilic Fly Studio garnered bids of over Rs 14,000 crore

Happy Forgings IPO comprises a fresh equity issue of Rs 400 crore and an offer for sale (OFS) of 71.59 lakh shares. The price band for the public offer will be announced soon.

At the same time, Shriram Finance, Adani Wilmar and a few other stocks may be excluded from the index.

“The first buy recommendation is on Hindalco from the metal space. It has provided a very nice breakout after a long time. Hindalco is likely to reach 575-585 levels. These are its two short-term targets. One can buy this with the stop loss of 519. The second buy recommendation is Adani Ports”.