Freefall for Railway PSU Stocks; IRCTC, RVNL, record upto 30% decline from this year’s highs
Shares of public sector companies faced increased selling pressure on Monday, driven by lackluster third-quarter results that led traders to unwind optimistic positions.
Analysts caution about the potential for additional declines in these stocks, despite their status as top performers on Dalal Street over the past three months. They suggest that any substantial drop in the coming weeks might present a favorable opportunity to consider buying some of these stocks.
Also Read
The decline can be attributed to a combination of factors, including below-estimated earnings and a subdued market response post the budget announcement, despite a 5 percent increase in rai…
Read moreRashi Peripherals IPO opens for subscription today- Should you subscribe-
The highly anticipated initial public offering (IPO) of Rashi Peripherals Limited commenced today, with the bidding window open until February 9, 2024. Priced at Rs 295 to Rs 311 per share, the global tech brand distributor aims to mobilize Rs 600 crore through the issuance of fresh shares. The IPO is geared towards a listing on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Prior to the IPO subscription date, Rashi Peripherals shares have made a notable debut in the grey market, trading at a premium of Rs 71 per share, as reported by market observers. The public offering, open until February 9, seeks to capitalize on the growing market interest.
Also Read