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​We already have a few projects undergoing and we will possibly win a few more projects going forward. And we are definitely looking for opportunities in distribution where we are engaged with some of the state governments of the distribution reforms that they can carry out in their state as we have done in Odisha.

Sensex and Nifty traded higher on Wednesday, driven by gains in banking and IT stocks as global trend allays traders’ fears about US recession.

Promoters held 0.0 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 21.85 per cent and 6.74 per cent, respectively.

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.