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In its petition, Reliance ARC has raised concerns over the Swiss Challenge Auction process, according to a lawyer source. The concern is that when an ARC makes a bid to buy a troubled asset or a nonperforming asset (NPA), it automatically becomes an initial bidder and this gives the ARC the exclusive right to match any bid that comes in during the Swiss Challenge Process, the lawyer explained.

​It is a one-day candlestick pattern in which there is a small red real body and a lower shadow extending from the body is formed at the top of an uptrend.​

This will be an option for IPOs opening after September 1, 2023, and will be mandatory for public issues opening after December 1, 2023.

The NCDs will be sold in five series. The tenor of series I and II is 18 months while that of series III, IV and V is 24 months, the firm said in a press briefing on Wednesday. JM Financial is the lead manager of the issue.

​The pattern signifies a bullish reversal as it shows that the bulls are trying to push prices higher.​

The company, in an exchange filing, said it had allotted 2.01 crore shares to 18 investors such as Franklin Templeton MF, SBI Life Insurance, Tata MF, Societe Generale, BNP Paribas, Copthall Mauritius Investments, Authum Investment, Aurigin Master, and Winro Commercial, among others.

In the June quarter, total vehicle sales declined 3% YoY, but grew 7% sequentially. Domestic sales were marginally down by 0.8% on a YoY basis while exports slumped 43%

The SoftBank-backed company, valued at just $446.8 million as of last close, has been in turmoil ever since it filed its IPO paperwork in 2019 as investors pointed out governance issues involving its then founder-CEO Adam Neumann

The floor price for the same has been fixed as Rs 18.44, which is nearly 6% discount from the current levels

"There is no doubt that there is plenty of momentum here," said Naeem Aslam, chief investment officer at Zaye Capital Markets. "The clear trend seems to be skewed to the upside."