IndiaMART InterMESH in focus on debut

Shares of IndiaMART InterMESH will debut on bourses today, 4 July 2019. The initial public offer (IPO) received bids for 9.74 crore shares, National Stock Exchange of India (NSE) data showed. The IPO was subscribed 36.21 times. The company has fixed final issue price at Rs 973 per share, the higher end of the Rs 970 to Rs 973 per share price band.

Vedanta has been awarded 10 exploration blocks in sedimentary basins throughout India pursuant to the Indian Open Acreage Licensing Policy (OALP) at a total bid cost of US$245 million. The announcement was made after market hours yesterday, 3 July 2019.

Jindal Steel & Power (JSPL) said that blast furnace at JSPL Angul Odisha has produced its highest ever hot metal production of 10845 MT for a single day on 2 July 2019. It is also reported that this is the ever highest production produced by any of the blast furnace in India. The announcement was made after market hours yesterday, 3 July 2019.

Shares of Uniply Industries will be in focus after Markab made an open offer for acquisition of up to 4.94 crore shares, or 26% of the capital at Rs 82 per share, aggregating to Rs 405.62 crore.

Steel Strips Wheels achieved June 2019 total wheel rim sales of 11.28 lakh over 12.66 lakh in June 2018 representing a de-growth of 10% YoY. The June month had a shutdown coupled with major inventory reduction exercise going on at all car manufacturer's end. The announcement was made after market hours yesterday, 3 July 2019.

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