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Overseas investors purchased Indian equities worth 32,779 crore across 17 sectors in the first half of September. Financial services received the highest inflows at 12,253 crore. Healthcare, consumer durables, and FMCG sectors also saw significant investments. However, the automobile sector faced the highest outflows at 1,983 crore.
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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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News and Media
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