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IREDA surges 218% from IPO price, Hindalco to set up battery foil plant & more

NIFTY50: 20,906 ▼ 90 (-0.4%)
SENSEX: 69,551 ▼ 377 (-0.5%)


Among the NIFTY sectoral indices, Media (+0.5%) and Metal (+0.3%) are the top gainers, while Realty (-1.7%) and Oil & Gas (-1.3%) were the top losers.

What's Up

Top gainers Today's change
HDFC Life
707 ▲ 34 (+5.1%)
UltraTech Cement 9,874 ▲ 203 (+2.1%)
Baja Auto
6,244 ▲ 105 (+1.7%)

What's Down

Top losers Today's change
Apollo Hospitals
5,430 ▼ 116 (-2.1%)
Sun Pharma 1,217 ▼ 24 (-1.9%)
Maruti Suzuki
10,350 ▼ 191 (-1.8%)

Market Sentiment

USD-INR 83.37 ▲ 0.02 (+0.03%)
NIFTY MIDCAP 100 44,555 ▼ 173 (-0.39%)
NIFTY SMALLCAP 100 14,529 ▲ 3.8 (+0.03%)
India VIX 12.71 ▼ 0.04 (-0.35%)

Stock Buzz


⭐ IREDA surges 218% from IPO price

Shares of the pure-play green financing company were locked in the 20% upper circuit today. The recently listed stock has soared 218% as compared to the issue price of ₹32 per share. This came after the company launched its retail division to provide loans under the PM-KUSUM scheme and for rooftop solar projects, among others. The company has sanctioned its first loan of ₹58 crore, under the PM-KUSUM scheme. The scheme aims to boost self-reliance in high-efficiency solar PV module manufacturing in India.

⭐ Hindalco to set up battery foil manufacturing plant

Hindalco plans to invest ₹800 crore to set up a 25,000-tonne battery foil facility in Odisha to tap the EV market. The company aims to increase its production of high-quality aluminium foil used in rechargeable batteries, to meet the rising demand in the growing market of electric vehicle and energy storage systems.

⭐ Torrent Pharma falls on USFDA observations

Shares of the pharma company closed 2% lower today. This came after the USFDA issued five observations for its oral-oncology manufacturing facility in Gujarat. The company has clarified that there was no observation related to data integrity reported and will address the observations within the specified timeframe.

⭐ BLS International hits 52-week high on new contract

Shares of the visa processing services provider hit a 52-week high and closed 6.9% higher today. This was after the company won a contract from the High Commission of India (HCI) in Canada. Under this contract, it will provide a range of services, including consular support, passport processing, and visa facilitation.

⭐ Spicejet drops after weak Q2 numbers

Spicejet reported a net loss of ₹431.5 crore down 48% from ₹837.8 crore year-on-year (YoY). The company also reported a decline of 37% in its revenue to ₹1,415 crore. The management stated that elevated fuel prices impacted the company’s operational costs. Meanwhile, the shares of the company closed 4.1% lower today.


IPO Corner

The IPO of India Shelter Finance, a housing finance company, will be open for subscription between 13 and 15 December. The price band for the public issue is ₹469-493 per share. The company plans to raise ₹1,200 crore through this IPO. To pre-apply for this IPO, click here.


The IPO of DOMS Industries, the stationery and art products manufacturer, will be open for subscription between 13 and 15 December. The price band for the public issue is ₹750-790 per share. The company plans to raise ₹1,200 crore through this IPO. To pre-apply for this IPO, click here.


Learn with Upstox

What is a stock split?


A stock split is a corporate action by which a company divides the face value of its shares in a predetermined ratio. For instance, let’s assume a company has issued 1 crore shares with a face value of ₹10 each. If it decides to split its stock in the ratio of 1:10, the face value of its shares will reduce to ₹1 each and the number of shares will increase to 10 crore. The primary purpose of a stock split is to enhance liquidity and make the company's shares more accessible to a large number of investors who may have found them unaffordable due to their higher prices.


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Categories: Market Recap