Nifty Financial Services 25/50 Index

HCLTech shares rose by 1.55% to Rs 1,746.10 on the NSE, driven by positive analyst reports. Morgan Stanley maintained an Overweight rating with a target price of Rs 1,705, highlighting the management’s optimistic near-term outlook, especially in the financial services sector.

The Rs 2,830.40 crore initial public offering (IPO) of Premier Energies, a leading solar cell and module manufacturer, opened for subscription on August 27, 2024, and will remain open until August 29, 2024. The IPO is priced between Rs 427 and Rs 450 per share. Ahead of the launch, Premier Energies secured Rs 846 crore from anchor investors, indicating strong interest in the offering.

Baazar Style Retail's initial public offering (IPO) is set to open for subscription on Friday, August 30, and will remain open until Tuesday, September 3. The company aims to raise Rs 834.68 crore through this book-built issue, which includes a fresh issue of 38 lakh shares valued at Rs 148 crore and an offer for sale (OFS) of 1.8 crore shares amounting to Rs 686.68 crore.