The price band for the Rashi IPO is fixed at ₹295 to ₹311 per equity share
According to the announcement, this is the largest order ever signed by an OEM (Original Equipment Manufacturer) for a wind project in India.
PowerGrid jumped over 5%, with SBI, TCS, and HCL Tech following suit with gains of over 1% apiece.
The bank had already garnered ₹157 Crore from anchor investors on February 6, a day preceding the IPO launch.
Private banking stocks bore the brunt of the market sentiment, with Axis Bank, ICICI Bank, Kotak Mahindra Bank, and HDFC Bank
The rate decision by RBI was expected, but the macro outlook seems robust.
Recommendation: Buy; Target price: ₹2050
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