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Brokerage Wedbush downgraded the company to "underperform" and reaffirmed its price target of $5, saying the stock looks "disconnected from fundamentals" at current valuation."News that Ryan Cohen may be selling his stake in BBBY appears to have spooked the meme stock faithful," said David Jones, strategist at Capital.com.

The IPO had a fresh issue of equity shares aggregating to Rs 766 crore and an offer for sale of up to 33,69,360 equity shares.The offer was priced in the range of Rs 209-220 per share.On Thursday, Syrma SGS Technology raised Rs 252 crore from anchor investors.It was the first company to tap the primary market in two-and-a-half months. Prior to this, the IPO of Aether Industries was open for public subscription during May 24-26.

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Mazhar Mohammad of Chartviewindia.in said the weakness is not panning out, as clear-cut sell signals are missing on short-term charts despite being in extremely overbought zones"It needs to sustain above 17,833 to retain a positive stance as the breach of said level can trigger.

The partially convertible rupee ended at 79.6725, having flirted with the key 79.70 level occasionally during the session. The local unit had closed at 79.4450 on Wednesday.Traders widely expect the rupee to tread the 79-80 range for at least another week, with no major events around the corner.

The Nifty Realty index closed 1.55 per cent up at 459.35.

The stock quoted a 52-week high price of Rs 1696.15 and a 52-week low of Rs 1002.5.

Low cost airline SpiceJet and Swiss firm Credit Suisse AG on Thursday told the Supreme Court they have resolved their financial dispute. The apex court then permitted SpiceJet to withdraw its appeal against a Madras High Court verdict ordering that the airline be wound up on account of alleged non-payment of dues to Credit Suisse AG.

On the technical charts, the RSI of the stock stood at 61.98.

“Among the newer companies, Zomato is one which I will still place my bet on. The second one would be Nykaa where also we can see their point of presence across and that is one company which has the potential of growing big. Route Mobile is another newly listed company which has a decent business model and can do well.”