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“I still think midcaps and smallcaps are the place to be. That universe is expanding. So do not be deterred by the up move that we have seen in the last six months and say that as midcaps and smallcaps have gone up, do not be in them. Just be overweight on mid-tier technology services companies and India-centric online businesses. These are going to be the big compounders and the big wealth creators.”

When the stock price moves downward and open interest on the counter increases, it is taken as a sign of a long build-up

Trent has given multibagger returns of 109% in 2023, outperforming Nifty50 which has returned over 11% during this period. The last 12-month gains by this counter stand at 92%. Trent is trading above its 50-day and 200-day simple moving averages (SMAs), according to Trendlyne.

NCD is available in tenors of 24 months, 36 months and 60 months. The frequency of interest payment is available on monthly and annual basis for each of the series.

“Who is the person to decide whether the open offer is fishy or in accordance with the regulation? The authority rests with SEBI. If the regulator finds something they will obviously not clear the open offer but it does not mean that anybody can just say that open offer is bad or fishy.”

“We have seen some of these active fund managers gradually increasing their exposure to technology. And in India, most fund managers have allocations to a few of the companies that have been developing a lot of AI – Infosys, HCL Tech, Wipro. In the last two years, the allocations have gone up. There are various other sectors also which are benefiting from it.”

Tata Tech listing at a 140% premium marked the best debut in 2 years and the all-time best for IPOs with a value of Rs 1,000 crore and above.

In June, Sebi had announced changes to IPO listing rules, reducing the timeline from earlier 6 days to 3 days. The rules were voluntary for IPOs launched after September 1

The Nifty Realty index closed 1.32 per cent up at 723.05.