The week in the stock markets has been full of volatility and choppiness, with opening losses being wiped out on more than one occasion. At the end of the week, BSE Sensex gained 831.15 points or 1.16 per cent to close at 72,426.64 points, while Nifty gained 258.20 points or 1.19 per cent to close at 22,040.70 points. The broader markets also saw gains, with BSE 100, BSE 200, and BSE 500 all gaining over 1 per cent.
The Indian Rupee gained 2 paisa or 0.02 per cent to close at Rs 83.02, and Dow Jones was choppy and marginally negative, losing 43.70 points or 0.11 per cent to close at 38,627.99 points.
The week also saw five listings, with Apeejay Surrendra Park Hotels Limited, RP Tech Limited, Capital Small Finance Bank Limited, Jana Small Finance Bank Limited, and Entero Healthcare Services Limited all entering the stock market.
These listings indicate that the primary markets are overheated, and valuations are unrealistic in most cases, signaling the need for promoters and merchant bankers to exercise caution.
Looking ahead, Juniper Hotels Limited is tapping the capital markets with an IPO. The issue consists of a fresh issue of Rs 1,800 crore and will be open for subscription from February 21 to February 23. The company is the only hotel developer with a 50:50 joint venture with a leading global hotel operator.
The company reported revenues of Rs 717.3 crore for the year ended March 23 and EBITDA of Rs 327.4 crore, with the objective of the issue being to repay Rs 1,500 crore towards the company’s debt.
In the week ahead, markets are expected to remain choppy and volatile, with the need for caution in trading as the possibility of new highs could lead to increased volatility.
Overall, the week gone by was marked by volatility, new listings, and market gains, with caution being advised as the stock market landscape remains unpredictable.
(Arun Kejriwal is the founder of Kejriwal Research and Investment Services. The views expressed are personal)
–IANS
arun/prw
