In today’s briefing:
- HDB Financial Services IPO Trading – Strong Demand, Driven by Instis
- Kalpataru IPO Trading – Decent Anchor; Muted Overall Demand
- NIFTY Index at a Crossroads: Two-Week Tactical Outlook
HDB Financial Services IPO Trading – Strong Demand, Driven by Instis
- HDB Financial Services (HDBFS) raised around US$1.4bn in its India IPO.
- HDBFS is a leading retail-focused non-banking financial company (NBFC) in India, in terms of total gross loan book size, according to the CRISIL Report.
- We have looked at the past performance and pricing in our previous note. In this note, we talk about the trading dynamics.
Kalpataru IPO Trading – Decent Anchor; Muted Overall Demand
- Kalpataru Limited (KTARU IN) raised about US$184m in its India IPO.
- Kalpataru (KL) is an integrated real estate developer involved in identification and acquisition of land, planning, designing, execution, sales, and marketing of its projects.
- We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.
NIFTY Index at a Crossroads: Two-Week Tactical Outlook
- The NIFTY Index rally may stop briefly, for 1 or 2 weeks. At the moment the index hast started a very mild pullback, after closing higher for 2 consecutive weeks.
- Usually the rally does not last more than 3 weeks when this pattern is encountered although there has been occasions where it lasted 7 weeks.
- Two scenarios lie ahead: (1) if this week closes higher, expect a near-term pullback; or (2) if it closes lower—possibly continuing into next week—the rally may resume afterward.
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