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The 52-week high is a crucial technical indicator for traders and investors, representing the highest price at which a stock has traded in the last year and helping assess its current value and potential future price movements.

This will be the third maiden public issue opening next week, after Indian Renewable Energy Development Agency and Tata Technologies.

The public issue of face value of Rs 10 per equity share comprises fresh issuance of equity shares up to 403.16 million and an Offer for Sale (OFS) of up to 268.78 million shares aggregating to up to 671.94 million equity shares, the government-owned company said.

Sectorally, buying was seen in IT, consumer durables, realty, healthcare, and auto stocks while banks, FMCG, and metals saw some selling pressure.

“One of the things that differentiates us is that although we are very proud of our position here in India, we are very much a global company, we are not an India out company and so we practice a very balanced onshore, offshore proposition and we have got a very balanced set of revenues from different parts of the world.”

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Nifty Bank index fell 0.09% on Thursday to close at 44,161. The index hit an intraday high of 44,420 but it failed to hold on to the momentum. Top index gainers include names like IDFC First Bank, PNB, and AU Small Finance Bank, while some profit booking was seen in Axis Bank and ICICI Bank.