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Aeron Composite Ltd has set the price for its SME IPO between Rs 121-125 per share, with subscriptions open from August 28 to 30. The IPO, targeting up to Rs 56.10 crore, will fund a new manufacturing unit in Gujarat and other corporate needs. It is listed on NSE Emerge. Hem Securities Ltd manages the issue.

“What seems to be deviating right now is the trajectory of valuations and the growth of the economy. Valuations in a lot of businesses are running ahead of time – the expectations are building up significantly. In situations like this, what is not factored into this scenario is an external event which could derail executions. Investors need to balance this view before taking any view of incremental investments.”

The offer is being conducted through the book-building process, with up to 50% allocated on a proportional basis to qualified institutional buyers, at least 15% allocated to non-institutional investors, and at least 35% allocated to retail individual investors.

Most management commentaries from within the space are indicating a significant amount of rural discretionary spending coming back in the second half with better crop produce and better crop realisation and so on and so forth, according to Mayuresh Joshi, Head Equity, Marketsmith India

Market participants will first respond to the dovish remarks by the US Fed Chair at the Jackson Hole symposium. After a period of consolidation, US markets resumed their upward movement on Friday and seem poised to test record highs soon.

We feel that the momentum has indeed slowed down with directional moving indicators DMI and ADX easing down. An uptick in momentum encouraged us to stay with the uptrend last week, though we had spotted several resistances that stalled the ascent.

Short covering typically leads to a decline in open interest and can push the stock price higher.

Both benchmarks hit their lowest since early January this week, after the U.S. government sharply lowered its estimate of jobs added by employers this year through March, raising fears of a possible recession.

FTSE announced changes to its All-World Index on Friday, adding 13 Indian stocks, the highest from any country. The new additions include Bank of Maharashtra, Central Bank of India, Cochin Shipyard, Hitachi Energy India, HUDCO, KEI Industries, and Motilal Oswal Financial Services. Additionally, 14 Indian stocks were added to the FTSE Large Cap Index, including Bharat Dynamics and Dixon Technologies.