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Afcons Infrastructure's billion-dollar IPO, the largest in over two years, is set to launch in early October. The Shapoorji Pallonji Group's engineering arm may increase the issue size to 8,400 crore. Proceeds will fund capital expenditure, working capital needs, and debt repayment. ICICI Securities and others are managing the issue.
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Investors eyeing quick profits from IPOs might benefit from selling newly-acquired shares soon after listing. Data shows that out of over 100 IPOs in 2023, many stocks failed to maintain their initial gains. Analysts suggest selling on the first day if shares hit the upper circuit for short-term gains.
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Nifty shows a sharp positive trend with a potential target of 26,250 and immediate support at 25,600. Analysts advise caution due to high FPI long-short ratios and overbought conditions. Stocks like HDFC Bank, Kotak Bank, Maruti, and L&T are forming bullish trends. Investors should consider stock-specific opportunities while monitoring key support levels.
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