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The IPO of DreamFolks Service, an airport service aggregator platform, will be sold in the price range of Rs 308-326 apiece. The IPO is entirely an offer for sale (OFS) of up to 1,72,42,368 equity shares with a face value of Rs 2 each.In terms of the valuations, the post issue P/E works out to 104.8x FY22, EPS at the upper range of the price band, However, it looks higher mainly due to lower profitability caused by pandemic led industry wide issue, said Puves S Chaudhari from Angel One.

Buying was seen in auto, banks, metal and pharma names, while a slide in tech stocks, as companies are scaling down variable pay due to margin pressure, capped gains.

Shares of Syrma SGS Technology were commanding a premium of Rs 45-50 in the grey market. The premium had risen to Rs 55-60 and as high as Rs 65 in the recent past. The premium in the unofficial market had kicked off from Rs 30.​According to market analysts, recent correction in the secondary market has dented prospects for the issue. Traders remain cautious over the primary market listing after a dull season a quarter ago.

“Initially the risks were balanced but now we think that even with the risk of higher food prices going forward, inflation numbers are going to come down. By Q1 of FY24, we are likely to be about 4.8% to 5% but that is pretty much the broad trajectory of inflation that will be coming down. ”

“It is important to look after the aviation industry and ensure that the players who participate in building an international hub in India are financially strong and viable. For that, it is important that we look at the cost structure of the airlines. A large part of the cost relates to ATF which in recent days has gone up to account for 70- 80% of the revenues of an airline.”

DIPAM aims to sell its stake in Nagarnar steel plant post demerger. Cabinet has already approved the demerger of Nagarnar steel plant and sale of government stake in it. The steel plant will be a separate company after the demerger.

Silver also declined by Rs 635 to Rs 55,416 per kg.In the international market, gold was quoting lower at USD 1,737 per ounce while silver was flat at USD 18.90 per ounce.

The Nikkei closed 1.19% lower at 28,452.75, while the broader Topix slipped 1.06% to 1,971.44.Wall Street closed sharply lower on Monday as investors fretted that the Jackson Hole gathering would reinforce a strong commitment by the Fed to stamp out inflation.

A total of 30,578 shares changed hands on the counter till 01:40PM (IST).

As of 31-Mar-2022, promoters held 65.4 per cent stake in the company, while FIIs held 20.01 per cent and domestic institutional investors had 0.15 per cent.