Jyoti CNC Automation will hit the bourses on 16 January. The automation company’s shares were trading at a premium of Rs 38 a share or 11.5% in the grey market. The stock is expected to list for Rs 369 per share from its issue price of Rs 331.
The grey market is an unofficial market where shares trade before the allotment and listing.
The company’s initial public offering for subscription opened on January 09 at a price band of Rs315-331 per share and closed on 11 January. The issue worth Rs1,000 crore was a completely fresh issue.
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By Manojh Vayalar
The October series Nifty futures started with a premium of around 150 points for the current month. For the Nifty futures FII maintained around 70% short positions, higher than the last month series, as of 10 Oct. The index has added marginal shorts since the start of this series. With short covering and some fresh longs buildup near 19,500 levels, Nifty is now in a tussle between bulls and bears. With short bias towards 19,800 levels and longs at 19,500, Nifty might witness a good movement of around 500 points with the break of either of these levels.
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