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On the technical charts, the RSI of the stock stood at 62.29.

The Nifty Realty index closed 0.2 per cent up at 1052.35.

A short buildup is when there is a rise in open interest and volumes along with a decrease in the price of the underlying stock in the Futures and Options segment.

Promoters held 51.5 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 7.79 per cent and 2.38 per cent, respectively.

QVC Exports launched its SME IPO from August 21 to August 23, aiming to raise Rs 24 crore through a fresh issue of 27.98 lakh shares at Rs 86 each. The proceeds are intended for loan repayment, working capital, and corporate purposes. The shares have a 58% premium in the unlisted market, with final allotment on August 26.

The first quarter earnings for the current fiscal were muted, affecting cyclical sectors like industrials and autos. This led several brokerages to lower their Nifty EPS estimates for FY25. Nuvama downgraded EPS by 2%, and Motilal Oswal adjusted it by 1.7%, notably impacting companies such as RIL, ONGC, and BPCL.

Hemang Jani, market expert, analyzed recent trends in defence, NBFC, and gold financier stocks. Defence stocks like BEL and HAL still show growth potential. Shriram Transport Finance and Chola are promising among NBFCs. Muthoot stands out among gold financiers. He also highlighted evolving dynamics in brokerage stocks impacting their valuations.

The stock quoted a 52-week high price of Rs 30710.15 and low of Rs 23525.0.

The division bench of Justice Virendra Singh G. Bisht and a technical member Prabhat Kumar, while approving the scheme in an oral order, also dismissed two applications that objected to the delisting scheme. The detailed order was not uploaded till the time of filing the story.

Ideal Technoplast Industries IPO: Ideal Technoplast Industries opened its SME IPO, aiming to raise Rs 16 crore through the issue of 13.25 lakh shares at Rs 121 each. The IPO, managed by Swastika Investmart, opened on August 21 and closed on August 23. Funds will go toward capital expenditure and general purposes. The listing is expected on August 28.