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The initial public offering (IPO) is entirely an offer for sale of up to 75,47,959 equity shares by existing shareholders and a promoter, according to draft red herring prospectus (DRHP).

“For September, we have started to reduce exposure on midcap IT and increase on Reliance.”

Around 3.2 per cent of the 1,216 listed companies on the National Stock Exchange that have reported their June quarter earnings have managed to defy the odds by expanding their operating margins on a sequential basis for four consecutive quarters.

“With the US economy being on a strong footing, the US Fed said they would be looking at a calibrated taper. That kind of calmed the global nerves and liquidity flows continued afresh, entering largecaps again.”

Benchmark indices hit fresh highs, proving the sceptics wrong. However, even while enjoying the party, investors should be prepared for a sharp correction. Partial profit booking is never a bad idea, said an analyst.

“With support from government expenditure and low interest rates, I am looking for a turnaround in investment.”

A total of 38,855 shares changed hands on the counter till 10:00AM (IST).

PI Industries Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 51807.94 Crore) operating in Pesticides/Agro Chemicals sector.

Spot gold was steady at $1,813.93 per ounce by 0109 GMT. US gold futures were down 0.2% to $1,815.10.

The Organization of the Petroleum Exporting Countries (OPEC), Russia and allies, together called OPEC+, are due to meet on Wednesday at 1500 GMT to decide whether to stick to a plan to add 400,000 barrels per day (bpd) each month through December.