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Saraswati India has set a price band of Rs 152-160 for its IPO, which opens on August 12 and closes on August 14. The minimum bid is for 90 shares, with additional bids in multiples of 90. The IPO includes a fresh issue of up to 65 lakh shares and an OFS of up to 35 lakh shares, with a total issue valued at Rs 160 crore.

In India also, if I look at the breadth indicator, advance decline line, that has also reached oversold and it has gotten there not just because of the last four days. In India, we have actually been seeing stocks weaken against the market for a couple of weeks.

On the technical charts, the RSI of the stock stood at 46.52.

On Tuesday, the cryptocurrency market showed mixed trends. Bitcoin climbed 1.8% to $56,829, and Solana surged nearly 7% to $151. However, Ethereum and other major tokens saw declines. The overall market cap rose by 1.25% to around $2.01 trillion, reflecting a market recovery. Analysts highlighted improving sentiment but advised cautious optimism.

By midday, the Unicommerce eSolutions IPO was highly sought after. Retail investors showed the strongest interest, oversubscribing their portion by 19.13 times. Non-institutional investors also showed significant demand, oversubscribing 5.42 times their allocation. However, qualified institutional buyers had only subscribed to a small fraction of their reserved shares. The grey market premium stands at Rs 25, indicating a 23% premium in the unlisted market.

A total of 97,721 shares changed hands on the counter till 01:44PM (IST).

Manish Gunwani from Bandhan AMC discussed market strategies, highlighting a cautious stance due to regulatory shifts. The firm has limited PSU investments, focusing instead on healthcare, internet, telecom, real estate, power, and capex sectors. Gunwani underscored the importance of a diverse and nimble approach in the current volatile market environment.

The stock quoted a 52-week high price of Rs 979.8 and a 52-week low of Rs 509.05.

Construction and infrastructure development company J Kumar Infra projects Ltd on Tuesday reported a 18.6 per cent rise in consolidated profit after tax (PAT) at Rs 86.41 crore for the quarter ended June 30, 2024.

The stock traded at a P/E multiple of -273.43, while the price-to-book value ratio stood at 10.16.