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Shares of Bajaj Finance and Bajaj Finserv declined by 3.3% and 3%, respectively, on the BSE following the multibagger listing of Bajaj Housing Finance. This IPO is the largest of 2024 so far and was subscribed nearly 67 times the number of shares offered. Bajaj Finance shares hit a day's low of Rs 7,347.10, while Bajaj Finserv shares fell to a low of Rs 1,855.30.
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Shares of Shubhshree Biofuels Energy made a robust debut on the NSE SME platform on Monday, opening at Rs 189, which is a 58.8% premium over the issue price of Rs 119. This strong start indicates solid investor interest, although the gains were slightly less than the 63% premium anticipated in the grey market prior to the listing.
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Shares of Macrotech Developers rose 5% to Rs 1,297.60 on BSE after Nomura initiated coverage with a buy rating and a target price of Rs 1,600. The firm expects strong earnings visibility and pre-sales growth at 20% CAGR over FY25-26, supported by solid operating cash flow and low net debt.
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