Auto Sector

The IPO will consist solely of a fresh issue of shares, with no offer-for-sale component.

Spot gold was down 0.2% at $1,824.10 per ounce, falling for the seventh session in a row to its lowest level since March 9. Futures for U.S. gold decreased 0.4% to $1,840.50.

The dollar index increased by almost 0.5% to 107.06, briefly reaching 107.12, its highest level since November 2022.

This marks the company's second attempt to go public, as it had previously filed draft papers with Sebi in August 2021 for an IPO but postponed the offering due to uncertain market conditions.

The IPO will consist of a fresh issue of 72.45 lakh equity shares and an offer-for-sale (OFS) of 35.55 lakh shares by the promoter group.

The latest week to September 29, 2023 was a week when the Nifty closed just about 18 bps lower.

Some good news on the fiscal deficit front in August

On the last working day of September 2023, the Office of the Economic Advisor published the core sector growth for the month of August 2023.

FPIs turn net sellers in September 2023

The spike in PCE inflation in the last 2 months shows that the PCE inflation has approximately followed the same trend as the consumer inflation.