Shares of Mankind Pharma jumped nearly 5 per cent on Monday following the company’s inclusion in the FTSE indices.
The global index provider included the stock in the FTSE All-World, Large-Cap, Total-Cap, and All-Cap indices. Analysts said the inclusion—to become effective on December 15—will result in inflows worth Rs 250 crore in the stock from passive trackers.
Shares of Mankind closed at a record high of Rs 2,012, up 4.8 per cent over its previous day’s close. The company had priced its shares at Rs 1,080 in its IPO in April.
Flair Writing sets price band of Rs 288-304
Flair Writing Industries has set a price band of Rs 288 to Rs 304 for its Rs 593-crore initial public offering, which opens on Wednesday.
At the top-end of the price band, the country’s leading pen and stationery products company will be valued at Rs 3,204 crore. Flair’s IPO comprises Rs 292 crore fresh fund raise and Rs 301 crore worth of secondary share sale.
Besides Flair, the company’s products are sold under brands such as Hauser, Pierre Cardin and Zoox. For the quarter ended June 2023, Flair had reported net profit of Rs 32 crore on revenues of Rs 247 crore.