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Aesthetik Engineers Jewels opened its SME IPO to raise Rs 26.47 crore by issuing 45.48 lakh fresh equity shares at Rs 55-58 per share. The company, known for facade systems, reported Rs 60 crore in revenues for the last fiscal year. The IPO closes on August 12 and is expected to list on August 16.

The stock quoted a 52-week high of Rs 653.9 and a 52-week low of Rs 208.05.

Suzlon Energy shares surged 33% to Rs 73.04 since its Q1 FY25 results on July 22, driven by a 200% YoY profit jump to Rs 302 crore. Revenue rose 50% to Rs 2,016 crore, and EBITDA increased 86% to Rs 370 crore. The stock hit a 5% upper circuit today and has reached it 7 times in 13 sessions.

Shree Cement faced a 4% drop in shares as it posted a 51% decrease in net profit for the June quarter, down to Rs 278.6 crore. Revenues saw a slight increase to Rs 5,123.9 crore, but higher expenses offset gains. Brokerages had varied opinions, noting concerns about weak demand and geographic expansion.

A total of 175,400 shares changed hands on the counter till 11:57AM (IST)

FMCG and pharma stocks have surged up to 23% over the last month, proving their defensive strength, while the Nifty50 has declined amid high volatility and a 27% rise in the India VIX. The Nifty FMCG and Pharma indices have gained 8% and 7.7%, respectively, versus a 0.11% drop in the broader Nifty.

Ahead of listing, the company’s shares had a GMP of Rs 14 in the unlisted market. The IPO, featuring a fresh equity issue of Rs 617.69 crore and an OFS of up to 1.42 crore shares, saw strong investor demand with a 13.78 times subscription. Proceeds will fund equipment purchases, debt repayment, and general corporate needs.

Mutual funds offloaded shares in 12 defence stocks amid concerns over high valuations, with retail investors stepping in to buy. Foreign institutional investors also increased their holdings in many of these stocks. Experts advised a careful stock-specific approach as high valuations may limit near-term gains despite strong order books and government focus on indigenization.

Dhariwalcorp shares listed on the NSE SME platform with a 41.5% premium, reaching Rs 150 from an issue price of Rs 106. The IPO, largely welcomed by investors, was oversubscribed by 100 times. The company trades waxes and industrial chemicals, serving various industries domestically and internationally with a diverse range of quality products.

Foreign institutional investors decreased their shareholding in NSE-listed companies to 17.38% in Q1 FY25 from 17.72% a year earlier. The highest FII holdings as of June 30, 2024, were seen in companies like 360 One Wam, Samhi Hotels, Delhivery, CarTrade Tech, and Paytm, reflecting key investment choices.