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Market experts believe that Tamilnad Mercantile Bank is likely to be listed around its issue price due to muted response and mixed analyst views for the lender.The private lender, which raised Rs 831.60 crore from the primary markets between September 5 and 7, is likely to debut on the bourses on Thursday, September 15.

“I do not know how much more one can expect but yes, if the sectoral move is what you are looking at, clearly UltraTech is one of the bigger beneficiaries. If you are looking at companies which will become big, there is a likelihood of volume growth, commensurate with an increase in prices. My own favourite would be something like Dalmia Bharat.”

Vedanta-Foxconn JV is “at a very advanced stage with Gujarat for their investments” and the deal may be signed and announced this week.

The brokerage believes that the domestic OEM volume growth shall accelerate in the ongoing fiscal year for segments such as 2W, PV and tractors, while for MHCV, it would remain the highest at 30%. However, exports and replacement segment growth is expected to moderate in FY23 compared to FY22.

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Some of the marquee investors such as Shankar Sharma, Amit Bhartia-erstwhile Partner, GMO Singapore Pte, have invested in the pre-IPO funding in their personal capacities. Marquee institutional investors, including NAV Capital Emerging Star Fund and Rajasthan Global Securities, have also invested in the pre-IPO stakes in the company.

Analysts said the recent price action suggests the index is preparing for a downward trend. 17,700 and 17,500 will be key supports for the index incoming days, whereas any upside will be dependent upon a decisive break of the 18,000 level, analysts said.

The rolled out number can be attributed to decline in average prices of edible oils in August, reflecting the transmission of the import duty cut by the government as well as the ongoing downtrend in global prices. Some of the key constituents of the Indian staple diet including pulses, rice and wheat witnessed an increase in their average prices on the back of record heatwave and squeezing household budgets.

“This quarter and the next would not be a great time for IT companies, but from the March quarter onwards, till the next year when budgets are reallocated, IT companies will do well and perhaps stock markets will typically lead this anticipation by about two or three months. This might be an interesting time to take IT on for the next five to six years as a cycle.”

"The undertone remains bullish, and one should keep a buy-on-dip approach with strong support at the 40,000-39,800 zone. The immediate hurdle on the upside is placed at 40,700 and once taken out will witness a swift move towards 41,500-41,800 levels," Shah, a Senior Technical Analyst at LKP Securities, said.